Local Economic & Employement Development Council Inc
- Assets
- $625.7k
- Revenue
- $532.3k
- Investments
- $0.0
- Employees
- 4
- Location
- Chicago, IL
- Founding
- 11/2001
- Data as of
- 12/2023
- EIN
- 36-4441222
Organization Overview
Local Economic & Employement Development Council Inc, operating under the name North Branch Works, is located in Chicago, IL. The organization was established in 2001. According to its NTEE Classification (J22) the organization is classified as: Job Training, under the broad grouping of Employment and related organizations. As of 12/2023, North Branch Works employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Branch Works 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, North Branch Works generated $532.3k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $474.7k during the year ending 12/2023. 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
NORTH BRANCH WORKS IS AN ECONOMIC AND EMPLOYMENT DEVELOPMENT ORGANIZATION FOCUSED ON BUSINESSES ON CHICAGOS NEAR NORTH SIDE. ESTABLISHED TO HELP BUSINESSES GROW, THEY CONNECT PEOPLE TO JOBS AND TRAIN THEM FOR THESE JOB
Describe the Organization's Program Activity:
Part 3 - Line 4a
NORTH BRANCH WORKS PROVIDES OUTREACH AND ASSISTANCE TO BUSINESSES IN THE NORTH RIVER CORRIDOR RELATED TO CITY SERVICES, PUBLIC INFRSTRUCTURE IMPROVEMENTS AND PUBLIC FINANCING PROGRAMS TO SUPPORT BUSINESS EXPANSION. THIS PROGRAM ALSO MANAGES LOAN FUNDS FOR LOCAL BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Bennett Director | OfficerTrustee | 2 | $0 |
Ken Kalafut Director | Trustee | 1 | $0 |
Lisa Disbrow Director | Trustee | 1 | $0 |
Steven Kersten Director | Trustee | 1 | $0 |
Robert Doepel Chairman | Trustee | 2 | $0 |
Reggie Grant Director | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $349,252 |
| All other contributions, gifts, grants, and similar amounts not included above | $57,100 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $406,352 |
| Total Program Service Revenue | $108,971 |
| Investment income | $16,965 |
| 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 | $532,288 |
| 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. | $83,181 |
| Compensation of current officers, directors, key employees. | $2,995 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $181,610 |
| Pension plan accruals and contributions | $6,793 |
| Other employee benefits | $0 |
| Payroll taxes | $11,528 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,969 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,832 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $29,433 |
| Travel | $3,072 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $53,645 |
| All other expenses | $16,401 |
| Total functional expenses | $474,666 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $413,443 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $112,999 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $95,248 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,000 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $625,690 |
| Accounts payable and accrued expenses | $20,504 |
| 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 | $435,662 |
| Total liabilities | $456,166 |
| Net assets without donor restrictions | $169,524 |
| 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 | $625,690 |
Grants Awarded
Over the last fiscal year, Local Economic & Employement Development Council Inc has awarded $20,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
SR SOLUTIONS INC | | | $2,500 |
BELMAR WIRE PRODUCTS | | | $2,500 |
BELMAR WIRE PRODUCTS | | | $2,500 |
WINDY CITY FIELD HOUSE | | | $2,500 |
CREATIVE SCHOLARS | | | $2,500 |
CREATIVE SCHOLARS | | | $2,500 |