Greater Rochelle Economic Development Corporation DEVELOPMENT CORPORRATION
- Assets
- $1.3m
- Revenue
- $200.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Rochelle, IL
- Founding
- Data as of
- 12/2021
- EIN
- 36-3097906
Organization Overview
Greater Rochelle Economic Development Corporation DEVELOPMENT CORPORRATION, operating under the name Greater Rochelle Development C, is located in Rochelle, IL. Greater Rochelle Development C is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Greater Rochelle Development C generated $200.3k in total revenue. All expenses for the organization totaled $9.8k during the year ending 12/2021.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE THE DEVELOPMENT, ESTABLISHMENT, RETENTION AND EXPANSION OF COMMERCIAL INDUSTRIAL, PROFESSIONAL, AND CIVIC ENTERPRISES IN ROCHELLE, ACTING AS A BUSINESS FACILITATOR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS FACILIATOR
BUSINESS FACILITATOR
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Seldal Treasurer | Officer | 0 | $0 |
Clyde Gelderloos Secretary | Officer | 0 | $0 |
Richard Ohlinger President | Officer | 0 | $0 |
Claude Mckibben Vice-President | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $47,694 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $47,694 |
| Total Program Service Revenue | $0 |
| Investment income | $1,671 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$19,500 |
| Net Gain/Loss on Asset Sales | $170,407 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $200,272 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,590 |
| Fees for services: Accounting | $1,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,906 |
| Advertising and promotion | $0 |
| Office expenses | $125 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $1,832 |
| Insurance | $1,125 |
| All other expenses | $0 |
| Total functional expenses | $9,828 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $32,880 |
| Savings and temporary cash investments | $135,597 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $10,992 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $493,603 |
| Intangible assets | $0 |
| Other assets | $659,752 |
| Total assets | $1,332,824 |
| 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 | $0 |
| 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 | $1,332,824 |
| Total liabilities and net assets/fund balances | $1,332,824 |
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