Illinois Economic Development Association
- Assets
- $113.9k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Springfield, IL
- Founding
- 07/1982
- Data as of
- 12/2021
- EIN
- 35-1087090
Organization Overview
Illinois Economic Development Association is located in Springfield, IL. The organization was established in 1982. According to its NTEE Classification (S11) the organization is classified as: Single Organization Support, 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. Illinois Economic Development Association 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 12/2021, Illinois Economic Development Association generated $46.8k 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 (10.7%) each year. All expenses for the organization totaled $66.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.0%) per year over the past 7 years. 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 Program Activity:
Part 3
THE ILLINOIS ECONOMIC DEVELOPMENT ASSOCIATION SPONSORS SPRING AND FALL CONFERENCES TO BRING TOGETHER ECONOMIC DEVELOPMENT PROFESSIONALS IN A SETTING CONDUCIVE TO THE EXCHANGE OF IDEAS AND INFORMATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bryan Gay President | 2 | $0 | |
Michael Cassa 1st Vice Pre | 2 | $0 | |
Ken Springer Secretary/tr | 2 | $0 | |
Mark Williams 2nd Vice Pre | 2 | $0 | |
Kim Pierce Director | 2 | $0 | |
Cheryl Welge Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $5,375 |
| Membership dues | $35,850 |
| Investment income | $1,084 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $4,533 |
| Total Revenue | $46,842 |
| 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 | $55,450 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $1,039 |
| Other expenses | $9,647 |
| Total expenses | $66,136 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $94,968 |
| Other assets | $0 |
| Total assets | $113,939 |
| Total liabilities | $9,290 |
| Net assets or fund balances | $104,649 |
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