Grundy Economic Development Council Nfp
- Assets
- $520.4k
- Revenue
- $466.3k
- Investments
- $0.0
- Employees
- 4
- Location
- Morris, IL
- Founding
- 00/0000
- Data as of
- 12/2023
- EIN
- 22-3872361
Organization Overview
Grundy Economic Development Council Nfp is located in Morris, IL. The organization was established in 0000. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Grundy Economic Development Council Nfp employed 4 individuals. Grundy Economic Development Council Nfp is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Grundy Economic Development Council Nfp generated $466.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $392.4k during the year ending 12/2023. While expenses have increased by 5.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE COUNCIL PROVIDES DEVELOPMENT FUNCTIONS WITHIN GRUNDY COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GROWTH & EXPANSION: THE COUNCIL PLANS FOR ECONOMIC DEVELOPMENT WITH A FOCUS ON INDUSTRIAL RETENTION AND EXPANSION.
BUSINESS DEVELOPMENT: THE COUNCIL USES THIS PROGRAM FOR DIRECT EFFORTS OF BUSINESS ATTRACTION. THE COUNCIL WILL OVERSEE THE MARKETING, PROMOTION, INCENTIVES, AND BUSINESS ISSUES THAT IMPACT A SECCESSFUL ATTRACTION PROGRAM.
COMMUNITY RELATIONS: THE COUNCIL USES THIS PROGRAM TO DISSEMINATE INFORMATION, SERVICES, AND ECONOMIC DEVELOPMENT OPPORTUNITIES AMONG ALL GRUNDY COUNTY COMMUNITIES AND RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brett Madison Director | Trustee | 0 | $0 |
John Adler Director | Trustee | 0 | $0 |
Chirs Balkema Director | Trustee | 0 | $0 |
Ryan Hansen Director | Trustee | 0 | $0 |
John Mccann Director | Trustee | 0 | $0 |
Pete Brummel Chairman | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $321,944 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,563 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $339,507 |
| Total Program Service Revenue | $111,217 |
| Investment income | $15,606 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$37 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $466,293 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $248,041 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $29,616 |
| Payroll taxes | $18,633 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,035 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1 |
| Advertising and promotion | $0 |
| Office expenses | $1,236 |
| Information technology | $5,240 |
| Royalties | $0 |
| Occupancy | $26,805 |
| Travel | $2,367 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,248 |
| Insurance | $4,282 |
| All other expenses | $9,528 |
| Total functional expenses | $392,438 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,125 |
| Savings and temporary cash investments | $480,032 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,244 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $520,401 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $520,401 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $520,401 |