Illinois Venture Capital Association
- Assets
- $948.1k
- Revenue
- $681.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Chicago, IL
- Founding
- 12/2001
- Data as of
- 06/2021
- EIN
- 36-4385926
Organization Overview
Illinois Venture Capital Association is located in Chicago, IL. The organization was established in 2001. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Illinois Venture Capital Association employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Illinois Venture Capital Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2021, Illinois Venture Capital Association generated $681.4k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $682.4k during the year ending 06/2021. 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
THE ILLINOIS VENTURE CAPITAL ASSOCIATION (THE "ASSOCIATION) WAS INCORPORATED ON JULY 27, 2000, TO FOSTER DEVELOPMENT AND GROWTH OF BUSINESS ENTERPRISE, WHICH WILL ENHANCE THE VITALITY OF THE ILLINOIS VENTURE CAPITAL AND PRIVATE EQUITY COMMUNITY. THE ASSOCIATION INTENDS TO ACHIEVE ITS GOALS BY: (I) PROVIDING GOVERNMENT AFFAIRS EXPERTISE, (II) OFFERING EDUCATIONAL MEMBER PROGRAMS, (III) FACILITATING MEMBER NETWORKING AND (IV) PARTICIPATING IN SHARED PROGRAMS AND EVENTS OF MUTUAL INTEREST WITH OTHER ORGANIZATIONS IN SUPPORT OF THE VENTURE CAPITAL COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEWSLETTERS ARE ISSUED SEMI-MONTHLY. NETWORKING & EDUCATIONAL EVENTS INCLUDE CONFERENCES, PANELS, AWARDS DINNERS, AND BREAKFAST/LUNCH/DINNER RECEPTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maura O'hara Executive Director | Officer | 40 | $236,746 |
Lee Mitchell Ivca-Pac Vice Chairman | OfficerTrustee | 1 | $0 |
Rocco Martino Ivca-Pac Vice Chairman | OfficerTrustee | 1 | $0 |
Tony Palcheck Ivca-Pac Co-Chairman | OfficerTrustee | 1 | $0 |
Jeffrey Piper Treasurer | OfficerTrustee | 1 | $0 |
Jim Tenbroek Ivca-Pac Co-Chairman | OfficerTrustee | 1 | $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 | $324,069 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $324,069 |
| Total Program Service Revenue | $355,398 |
| Investment income | $1,944 |
| 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 | $681,411 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $105,900 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $236,746 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $81,085 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,892 |
| Payroll taxes | $19,488 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $548 |
| Fees for services: Accounting | $25,858 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $72,170 |
| Advertising and promotion | $15,286 |
| Office expenses | $7,244 |
| Information technology | $12,519 |
| Royalties | $0 |
| Occupancy | $3,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,201 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $340 |
| Insurance | $25,612 |
| All other expenses | $0 |
| Total functional expenses | $682,380 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $710,727 |
| Savings and temporary cash investments | $218,761 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,250 |
| 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 | $9,946 |
| Net Land, buildings, and equipment | $395 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $948,079 |
| Accounts payable and accrued expenses | $64,435 |
| Grants payable | $0 |
| Deferred revenue | $178,560 |
| 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 | $242,995 |
| Net assets without donor restrictions | $705,084 |
| 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 | $948,079 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Illinois Venture Capital Association has recieved totaling $47,172.
| Awarding Organization | Amount |
|---|---|
A Good Walk Spoiled Foundation Hinsdale, IL PURPOSE: EDUCATION | $47,172 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Statewide Energy Efficiency Andrenewables Administration Inc Madison, WI | $63,794,129 | $99,926,553 |
Information Systems Audit And Control Association Inc Schaumburg, IL | $168,414,298 | $101,751,321 |
International Code Council Inc Country Club Hills, IL | $173,275,221 | $89,069,791 |
American Property Casualty Insurance Association Chicago, IL | $156,045,230 | $59,541,606 |
Healthcare Information And Management Systems Society Chicago, IL | $52,722,997 | $65,054,367 |
Inter-Industry Conference On Auto Collision Repairs Hoffman Estates, IL | $98,841,828 | $60,778,547 |
Iowa Soybean Association Ankeny, IA | $41,040,308 | $49,594,198 |
Society Of Actuaries Professional Association Schaumburg, IL | $48,907,069 | $54,354,624 |
Association Of Equipment Manufacturers Milwaukee, WI | $65,690,987 | $35,929,615 |
Ipc International Inc Bannockburn, IL | $35,069,140 | $30,776,508 |
Apics Inc Chicago, IL | $42,029,595 | $30,789,675 |
International Sanitary Supply Association Rosemont, IL | $73,095,156 | $16,343,711 |