Dekalb County Economic Development Corporation
- Assets
- $555.8k
- Revenue
- $647.8k
- Investments
- $0.0
- Employees
- 5
- Location
- Dekalb, IL
- Founding
- 10/1987
- Data as of
- 12/2023
- 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 12/2023, Dekalb County Economic Development Corporation employed 5 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 12/2023, Dekalb County Economic Development Corporation generated $647.8k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $612.6k during the year ending 12/2023. While expenses have increased by 3.4% 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
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
DCEDC PROCESSED 35 ATTRACTION & EXPANSION PROJECTS IN 2023. THIS NUMBER IS LOWER THAN PREVIOUS YEARS, BUT SEVERAL MAJOR PROJECTS, INCLUDING THE KRAFT HEINZ.CAPITAL INVESTMENT OF 493,009,012 (3RD HIGHEST IN DCEDC HISTORY).1,347,800 SQ FT OF INDUSTRIAL CONSTRUCTION, ACQUISITION, & LEASING. 2020-2023 1227 NEW JOBS HAVE BEEN CREATED IN DEKALB COUNTY, IL.
IN 2023, WE SUSTAINED OUR ANNUAL FUNDING AND ADDED TWO NEW INVESTORS FOR 2024, AND EXTENDED FIVE ORIGINAL 3-YEAR INVESTOR FOR ADDITIONAL YEARS. THE WORKSHEET HAS BEEN ATTACHED IN THE PORTAL. IN ADDITION, THE CREATION OF THE YOUNG PROFESSIONALS GROUP ELEVATE EVOLVED FROM THE OPPORTUNITY UNBOUND PROGRAM. THIS IS A PROGRAM GEARED TOWARDS ENGAGING OUR YOUNG PROFESSIONALS TO LIVE, WORK, PLAY, AND STAY IN DEKALB COUNTY. ENGAGEMENTS INCLUDE PERIODIC SOCIAL NETWORKING EVENTS THROUGHOUT THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Kokott President | OfficerTrustee | 1 | $0 |
Kevin Lamb Treaurer | OfficerTrustee | 1 | $0 |
Pramit Patel Vice Preside | OfficerTrustee | 1 | $0 |
Frank Roberts Immediate Pp | OfficerTrustee | 1 | $0 |
Cortney Strohacker Secretary | OfficerTrustee | 1 | $0 |
Paul Borek Executive Di | Officer | 60 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $19,050 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $481,222 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $500,272 |
| Total Program Service Revenue | $102,844 |
| Investment income | $3,809 |
| 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 | $647,753 |
| 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 | $343,718 |
| Pension plan accruals and contributions | $13,566 |
| Other employee benefits | $0 |
| Payroll taxes | $19,046 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $52,207 |
| Advertising and promotion | $101,170 |
| Office expenses | $25,452 |
| Information technology | $2,607 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,078 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,338 |
| Interest | $2,232 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $28,190 |
| Insurance | $5,465 |
| All other expenses | $0 |
| Total functional expenses | $612,573 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $269,556 |
| Savings and temporary cash investments | $176,050 |
| Pledges and grants receivable | $9,680 |
| Accounts receivable, net | $18,200 |
| 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 | $80,184 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,100 |
| Total assets | $555,770 |
| Accounts payable and accrued expenses | $31,169 |
| 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 | $34,085 |
| Total liabilities | $65,254 |
| Net assets without donor restrictions | $421,157 |
| Net assets with donor restrictions | $69,359 |
| 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 | $555,770 |