Berwyn Development Corporation
- Assets
- $2.9m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 20
- Location
- Berwyn, IL
- Founding
- 08/1988
- Data as of
- 12/2023
- EIN
- 36-3301829
Organization Overview
Berwyn Development Corporation is located in Berwyn, IL. The organization was established in 1988. 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. As of 12/2023, Berwyn Development Corporation employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Berwyn Development 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 12/2023, Berwyn Development Corporation generated $2.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $2.0m during the year ending 12/2023. While expenses have increased by 4.2% per year over the past 9 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
DEVELOP AND PROMOTE THE CITY OF BERWYN THROUGH RENOVATION PROJECTS, EVENTS AND PROMOTIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BERWYN DEVELOPMENT CORPORATION IS COMMITTED TO THOSE ACTIVITIES THAT SUPPORT AND CONTRIBUTE TO THE ECONOMIC GROWTH AND VITALITY OF THE BERWYN COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Hulseberg Executive Dir. | OfficerTrustee | 40 | $190,277 |
Jamie Revell President | OfficerTrustee | 0 | $0 |
Diane Salemi Past President | OfficerTrustee | 0 | $0 |
Richard Mondragon Vice President | OfficerTrustee | 0 | $0 |
Juan Agustin Fleitas Treasurer | OfficerTrustee | 0 | $0 |
Anthony Belcaster Secretary | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $80,062 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $388,903 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $468,965 |
| Total Program Service Revenue | $1,389,466 |
| Investment income | $24,815 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $58,786 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,988,768 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $34,617 |
| 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. | $190,277 |
| Compensation of current officers, directors, key employees. | $153,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $645,126 |
| Pension plan accruals and contributions | $33,479 |
| Other employee benefits | $28,849 |
| Payroll taxes | $78,012 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,782 |
| Fees for services: Accounting | $19,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $115,585 |
| Advertising and promotion | $120,662 |
| Office expenses | $22,790 |
| Information technology | $42,570 |
| Royalties | $0 |
| Occupancy | $93,811 |
| Travel | $19,482 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,947 |
| Interest | $19,694 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,595 |
| Insurance | $46,947 |
| All other expenses | $25,949 |
| Total functional expenses | $2,014,503 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,968,685 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $279,806 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $582,723 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,884 |
| Net Land, buildings, and equipment | $17,039 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25,726 |
| Total assets | $2,880,863 |
| Accounts payable and accrued expenses | $222,764 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $808,252 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $34,325 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,065,341 |
| Net assets without donor restrictions | $1,815,522 |
| 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 | $2,880,863 |