Community Development Corporation Of The Bloomington-Normal Area
- Assets
- $50.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Normal, IL
- Founding
- 11/2012
- Data as of
- 12/2021
- EIN
- 26-1436471
Organization Overview
Community Development Corporation Of The Bloomington-Normal Area is located in Normal, IL. The organization was established in 2012. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Development Corporation Of The Bloomington-Normal Area is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Community Development Corporation Of The Bloomington-Normal Area generated $26.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (24.3%) each year. All expenses for the organization totaled $108.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
AIDS THE EDC IN PROVIDING ADDITIONAL FUNDING IN THE DEVELOPMENT OF THE BLOOMINGTON-NORMAL AREA THROUGH GRANTS AND LOANS; PROMOTES SCIENCE, TECHNOLOGY, ENGINEERING, AND MATHEMATICS IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3
THE ORGANIZATION SPONSORS PROGRAMS THAT PROMOTE ECONOMIC DEVELOPMENT IN THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Gleason Board Member | 1 | $0 | |
Cassy Taylor Board Member | 1 | $0 | |
Pam Reece Board Member | 1 | $0 | |
Russell Edelman Board Member | 1 | $0 | |
Tom Good Board Member | 1 | $0 | |
Patrick Hoban CEO | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,800 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $8 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $22,000 |
| Total Revenue | $26,808 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $151 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $39 |
| Other expenses | $108,038 |
| Total expenses | $108,228 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $48,146 |
| Other assets | $0 |
| Total assets | $50,693 |
| Total liabilities | $5,000 |
| Net assets or fund balances | $45,693 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Community Development Corporation Of The Bloomington-Normal Area has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
Commerce Foundation Kansas City, MO PURPOSE: CAPITAL CAMPAIGN | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iec Hotel Corporation West Des Moines, IA | $103,529,195 | $16,531,928 |
Milwaukee Economic Development Corp Milwaukee, WI | $129,937,785 | $4,507,113 |
The Center Of Workforce Innovations Inc Valparaiso, IN | $2,958,255 | $14,608,336 |
Black Hawk County Gaming Assoc Waterloo, IA | $18,246,475 | $5,898,126 |
World Business Chicago Chicago, IL | $9,302,792 | $9,942,081 |
Enlace Chicago Chicago, IL | $7,912,354 | $9,016,287 |
West Central Indiana Economic Development District Inc Terre Haute, IN | $2,629,970 | $4,624,225 |
Common Wealth Development Inc Madison, WI | $16,900,042 | $3,774,568 |
Evansville Vanderburgh County Convention & Visitors Bureau Inc Evansville, IN | $5,490,585 | $3,551,749 |
Milwaukee Urban Strategic Investment Corp Milwaukee, WI | $23,035,863 | $4,044,506 |
Far South Cdc Chicago, IL | $4,303,074 | $2,694,787 |
Northwest Side Community Development Corporation Milwaukee, WI | $11,140,702 | $4,254,876 |