Dekalb County Economic Development Corporation
- Assets
- $494.0k
- Revenue
- $611.9k
- Investments
- $0.0
- Employees
- 2
- Location
- Dekalb, IL
- Founding
- 10/1987
- Data as of
- 12/2021
- EIN
- 36-3524353
Organization Overview
Dekalb County Economic Development Corporation is located in Dekalb, IL. The organization was established in 1987. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Dekalb County Economic Development Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dekalb County Economic 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 12/2021, Dekalb County Economic Development Corporation generated $611.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $448.8k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE AND ASSIST THE GROWTH AND DEVELOPMENT OF BUSINESS IN DEKALB COUNTY, ATTRACT BUSINESS AND INDUSTRY TO DEKALB COUNTY, ASSIST WITH WORKFORCE DEVELOPMENT, AND FACILITATE DEMOGRAPHIC RESEARCH AND EDUCATIONAL ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING 2021, DCEDC HANDLED A RECORD NUMBER OF (83) DEVELOPMENT PROJECTS LEADING TO 9 INDUSTRIAL ATTRACTION PROJECTS AND 3 EXPANSIONS. THESE PROJECTS INVOLVE CAPITAL INVESTMENT OF OVER 130 MILLION IN THE CONSTRUCTION, RENOVATION, LEASE OR ACQUISITION OF 3 WITH OVER 2.2 MILLION SQUARE FEET OF SPACE AND THE CREATION OF MORE THAN 850 JOBS. OVER THE PAST 5 YEARS, DCEDC HAS HELPED ATTRACT INVESTMENT OF 1.2 BILLION DOLLARS IN OVER 6.5 MILLION SQUARE FEET OF SPACE AND CREATING 2,500 JOBS.
DURING 2021, DCEDC INITIATED THE OPPORTUNITY UNBOUND BRANDING AND COMMUNICATIONS PROGRAM TO ATTRACT PROFESSIONALS, WORKERS, FAMILIES, VISITORS AND STUDENTS TO WORK AND LIVE IN DEKALB COUNTY. THIS INITIATIVE IS CRUCIAL TO DEKALB COUNTY TO ATTRACT TALENT TO WORK AT NUMEROUS NEW INDUSTRIES AND BUSINESSES, AS WELL AS REVERSE THE POPULATION DECLINE THAT THE COUNTY EXPERIENCED DURING THE PAST DECADE. DCEDC RAISED 94,350 TO INITIATE THE PROGRAM AND TO PROMOTE ALL DEKALB COUNTY HAS TO OFFER IN ITS COMMUNITIES, ATTRACTIONS, SCHOOLS, COMMERCIAL SERVICES, AND NON-PROFITS.
DURING 2021, DCEDC COMPLETED ITS SIXTH YEAR ADMINISTERING THE DEKALB COUNTY ENTERPRISE ZONE PROGRAM. SINCE 2016, THE DEKALB COUNTY ENTERPRISE ZONE HAS SUPPORTED 52 PROJECTS WITH TOTAL CAPITAL INVESTMENT OF 1.9 BILLION IN THE DEKALB COUNTY ENTERPRISE ZONE COMMUNITIES OF CORTLAND, DEKALB, GENOA, SANDWICH, SYCAMORE AND WATERMAN, AS WELL AS MALTA TOWNSHIP. THE ENTERPRISE ZONE HAS INCREASED THE VISIBILITY AND COMPETITIVENESS OF DEKALB COUNTY IN ATTRACTING FIVE NEW COMPANIES TO DEKALB COUNTY: META (FACEBOOK), FERRARA CANDY COMPANY, MEADOWVALE, SOLOTECH AND SYNGENTA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Borek Executive Di | Officer | 40 | $143,523 |
Michael Kokott Vice Preside | OfficerTrustee | 3 | $0 |
Kevin Lamb Treaurer | OfficerTrustee | 4 | $0 |
Frank Roberts President | OfficerTrustee | 8 | $0 |
Dan Templin Secretary | OfficerTrustee | 3 | $0 |
Tia Anderson Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $6,050 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $35,275 |
| All other contributions, gifts, grants, and similar amounts not included above | $412,801 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $454,126 |
| Total Program Service Revenue | $156,032 |
| Investment income | $1,375 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $611,941 |
| 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. | $143,523 |
| Compensation of current officers, directors, key employees. | $11,482 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $88,501 |
| Pension plan accruals and contributions | $14,018 |
| Other employee benefits | $0 |
| Payroll taxes | $16,598 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,775 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $50,017 |
| Advertising and promotion | $63,044 |
| Office expenses | $9,691 |
| Information technology | $6,104 |
| Royalties | $0 |
| Occupancy | $33,962 |
| Travel | $5,325 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,128 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,487 |
| Insurance | $4,483 |
| All other expenses | $0 |
| Total functional expenses | $448,811 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $275,090 |
| Savings and temporary cash investments | $171,282 |
| Pledges and grants receivable | $20,400 |
| Accounts receivable, net | $303 |
| 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 | $2,654 |
| Net Land, buildings, and equipment | $22,196 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,100 |
| Total assets | $494,025 |
| Accounts payable and accrued expenses | $3,200 |
| 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 | $3,200 |
| Net assets without donor restrictions | $441,728 |
| Net assets with donor restrictions | $49,097 |
| 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 | $494,025 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Dekalb County Economic Development Corporation has recieved totaling $37,723.
| Awarding Organization | Amount |
|---|---|
Nebraska Community Foundation Lincoln, NE PURPOSE: ECONOMIC DEVELOPMENT | $20,000 |
Dekalb County Community Foundation Sycamore, IL PURPOSE: GENERAL SUPPORT | $17,718 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
16 Tech Community Corporation Indianapolis, IN | $90,414,871 | $43,820,376 |
Chicago Convention & Tourism Bureau Inc Chicago, IL | $13,640,210 | $19,015,508 |
Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
Vocational Development Center Inc Council Bluffs, IA | $12,984,673 | $16,204,305 |
Southern Iowa Economic Development Association Ottumwa, IA | $4,848,905 | $15,262,424 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |