Galesburg Downtown Council
- Assets
- $210.0k
- Revenue
- $157.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Galesburg, IL
- Founding
- 03/1976
- Data as of
- 12/2022
- EIN
- 37-1005211
Organization Overview
Galesburg Downtown Council is located in Galesburg, IL. The organization was established in 1976. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Galesburg Downtown Council employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Galesburg Downtown Council 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 12/2022, Galesburg Downtown Council generated $157.1k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of 0.0% each year. All expenses for the organization totaled $195.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by 0.0% per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Galesburg Downtown Council has awarded 70 individual grants totaling $430,225. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE AND ENHANCE THE ECONOMIC VIABILITY AND AESTHETIC QUALITY OF DOWNTOWN GALESBURG
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO HELP PROMOTE DOWNTOWN DEVELOPMENT, REDEVELOPMENT,AND BUSINESS STARTUP BY OFFERING FACADE GRANTS, ANDSTARTUP GRANTS TO NEW BUSINESSES. MAINTAIN COMMON PROPERTY WITHINTHE SPECIAL SERVICE AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kate Bullis Director | Trustee | 0 | $0 |
Laurie Plunk Director | Trustee | 0 | $0 |
Seamus Reilly Director | Trustee | 0 | $0 |
Tim Cramer Director | Trustee | 0 | $0 |
Phil Dickinson Director | Trustee | 0 | $0 |
Carla Markwart Director | Trustee | 0 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $48 |
| 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 | $157,052 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $85,185 |
| 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 | $54,128 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,607 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,652 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $500 |
| Office expenses | $921 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,600 |
| 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 | $12,188 |
| Insurance | $6,929 |
| All other expenses | $12,536 |
| Total functional expenses | $195,364 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $135,054 |
| 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 |
| Net Land, buildings, and equipment | $74,902 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $209,956 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $209,956 |
| Total liabilities and net assets/fund balances | $209,956 |
Grants Awarded
Over the last fiscal year, Galesburg Downtown Council has awarded $0 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
BONDI BUILDING CORP PURPOSE: RENT SUBSIDY | $0 |
PMTSP LLC PURPOSE: SIGNAGE | $0 |
MARIA VALDEZ PURPOSE: FACADE REPAIRS | $0 |
PLC REALTY PURPOSE: FACADE REPAIRS | $0 |
BONDI BUILDING CORP PURPOSE: MORTAR REPAIR | $0 |
MARTIN RENTALS WOODSMITH BOOKSHOPPE PURPOSE: RENT SUBSIDIES | $0 |