Rock Island Economic Growth Corporation

Organization Overview

Rock Island Economic Growth Corporation, operating under the name Economic Growth Corporation, is located in Rock Island, IL. The organization was established in 1999. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Economic Growth Corporation employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Growth Corporation 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, Economic Growth Corporation generated $2.1m 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 (13.0%) each year. All expenses for the organization totaled $4.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO REVITALIZE AND STABILIZE THE ECONOMY AND RESIDENTIAL NEIGHBORHOODS IN THE MIDWEST REGION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ROCK ISLAND ECONOMIC GROWTH CORPORATION STABILIZES AND REHABILITATES RESIDENTIAL NEIGHBORHOODS IN THE MIDWEST REGION BY DEVELOPING HOUSING, MANAGING HOUSING AND PROVIDING ASSISTANCE TO HOMEBUYERS INCLUDING, BUT NOT LIMITED TO, HOMEBUYER AND HOMEOWNER EDUCATION, CLOSING COST AND DOWN PAYMENT ASSISTANCE, REHABILITATION COST ASSISTANCE AND FORECLOSURE PREVENTION.


Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.

Board, Officers & Key Employees

Name (title)Compensation
Cynthia Berg
Chief Financial Officer
$126,475
Brian Hollenback
President And CEO
$110,369
Daryl Empen
Treasurer/past Chairperson
$0
Phyllis Schwindt
Secretary
$0
Kathy Springer
Vice Chairperson
$0
Jane Schneider
Chairperson
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Bi-state Masonry
Masonry Repair
$259,202
Jl Brady Company Llc
Hvac Installation
$229,195
Sterling Commercial Roofing
Roof Repair
$209,203
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $952,050
All other contributions, gifts, grants, and similar amounts not included above$157,150
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,109,200
Total Program Service Revenue$0
Investment income $216,372
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $1,905,117
Net Gain/Loss on Asset Sales -$1,631,647
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,050,446

Grants Awarded

Over the last fiscal year, Rock Island Economic Growth Corporation has awarded $36,500 in support to 6 organizations.

Grant RecipientAmount

ROBERT YOUNG CENTER FOR COMMUNITY MENTAL HEALTH

Org PageRecipient Profile

Moline, IL

PURPOSE: UNRESTRICTED PROGRAM SUPPORT

$10,000

ROCK ISLAND COMMUNITY CARING CONFERENCE

Org PageRecipient Profile

Rock Island, IL

PURPOSE: UNRESTRICTED PROGRAM SUPPORT

$6,500

SAL FAMILY & COMMUNITY SERVICES

Org PageRecipient Profile

Moline, IL

PURPOSE: UNRESTRICTED PROGRAM SUPPORT

$5,000

RIVER MUSIC EXPERIENCE

Org PageRecipient Profile

Davenport, IA

PURPOSE: UNRESTRICTED PROGRAM SUPPORT

$5,000

ROCK ISLAND-MILAN EDUCATION FOUNDATION

Org PageRecipient Profile

Rock Island, IL

PURPOSE: UNRESTRICTED PROGRAM SUPPORT

$5,000

QUAD CITIES BALLET FOLKLORICO

Org PageRecipient Profile

Moline, IL

PURPOSE: UNRESTRICTED PROGRAM SUPPORT

$5,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Rock Island Economic Growth Corporation has recieved totaling $15,000.

Awarding OrganizationAmount
Quad Cities Community Foundation

Bettendorf, IA

PURPOSE: FINANCIAL COUNSELING

$15,000
View Grant Recipient Profile

Create an account to unlock the data you need.

or