Danville Foundation For Industrial Growth
- Assets
- $72.8k
- Revenue
- $33.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Danville, IL
- Founding
- 01/1996
- Data as of
- 08/2021
- EIN
- 37-0867044
Organization Overview
Danville Foundation For Industrial Growth is located in Danville, IL. The organization was established in 1996. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Danville Foundation For Industrial Growth 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 08/2021, Danville Foundation For Industrial Growth generated $33.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (22.9%) each year. All expenses for the organization totaled $26.1k during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (25.2%) per year over the past 7 years. 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 PURPOSE OF THE FOUNDATION IS TO PROMOTE INDUSTRIAL GROWTH AND ATTRACT, RETAIN, AND EXPAND JOBS IN VERMILION COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT TO VERMILION COUNTY BUSINESS CLUSTER PROGRAMS, INCLUDING TRAINING PROGRAMS, EMPLOYEE RECRUITMENT, AND BUSINESS EXPANSION SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Dudley Executive Director | OfficerTrustee | 1 | $0 |
Mike Hulvey President | OfficerTrustee | 0.3 | $0 |
Judd Peck Treasurer | Trustee | 0.3 | $0 |
Tinisha Spain Secretary | Trustee | 0.3 | $0 |
Jim Mulvaney Vice President | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $33,945 |
| Investment income | $0 |
| 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 | $33,945 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,152 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,277 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $1,848 |
| All other expenses | $0 |
| Total functional expenses | $26,107 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,926 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $60,894 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $72,820 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $72,820 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Danville Foundation For Industrial Growth has recieved totaling $12,000.
| Awarding Organization | Amount |
|---|---|
Iroquois Federal Foundation Inc Watseka, IL PURPOSE: BUSINESS RETENTION/GROWTH | $12,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Brighton Park Neighborhood Council Chicago, IL | $4,048,275 | $8,262,492 |
Explore Branson Tourism Branson, MO | $1,396,845 | $7,616,014 |
Applied Research Institute Bloomington, IN | $3,329,526 | $9,074,163 |
Mhub Chicago, IL | $5,077,327 | $6,781,086 |
The Center For Kentucky Rural Economic Development Inc Somerset, KY | $52,726,644 | $7,680,890 |
Elevate Ventures Inc Indianapolis, IN | $13,635,821 | $6,541,390 |
Kentucky Highlands Investment Corporation London, KY | $130,461,604 | $9,285,837 |
Chicago Neighborhood Initiatives Inc Chicago, IL | $28,044,875 | $6,086,031 |
Madison Development Corporation Madison, WI | $34,294,523 | $5,181,232 |
Economic Development Corporation Of Kansas City Missouri Kansas City, MO | $4,885,634 | $3,918,676 |