Galesburg Downtown Council
- Assets
- $248.3k
- Revenue
- $149.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Galesburg, IL
- Founding
- 03/1976
- Data as of
- 12/2021
- 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 12/2021, 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 12/2021, Galesburg Downtown Council generated $149.2k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $210.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Galesburg Downtown Council has awarded 63 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
2021
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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jay Bullis Vice President | OfficerTrustee | 1 | $0 |
Greg Peterson Director | Trustee | 0 | $0 |
Thomas L Irons Secretary | OfficerTrustee | 1 | $0 |
Mike Holloway President | OfficerTrustee | 1 | $0 |
Laurie Plunk Director | Trustee | 0 | $0 |
Seamus Reilly 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 | $257 |
| 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 | $149,169 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $107,346 |
| 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 | $51,204 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,129 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,945 |
| 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 | $496 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,100 |
| 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 | $9,009 |
| Insurance | $6,200 |
| All other expenses | $9,582 |
| Total functional expenses | $210,235 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $188,037 |
| 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 | $60,231 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $248,268 |
| 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 | $248,268 |
| Total liabilities and net assets/fund balances | $248,268 |
Grants Awarded
Over the last fiscal year, Galesburg Downtown Council has awarded $107,347 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
PLC REALTY PURPOSE: FACADE REPAIRS | $37,425 |
BONDI BUILDING CORP PURPOSE: MORTAR REPAIR | $32,468 |
CENTRAL CONGO CHURCH | | | $24,563 |
PMTSP LLC PURPOSE: SIGNAGE | $5,977 |
BONDI BUILDING CORP PURPOSE: RENT SUBSIDY | $3,000 |
MARIA VALDEZ PURPOSE: FACADE REPAIRS | $2,914 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United States Soybean Export Council Inc Chesterfield, MO | $22,345,655 | $54,169,870 |
Midway Airlines Terminal Consortium Chicago, IL | $5,016,144 | $16,801,841 |
Julie Inc Joliet, IL | $17,181,914 | $10,586,687 |
International Accreditation Service Inc Country Club Hills, IL | $30,369,423 | $13,023,651 |
Better Business Bureau Of Chicago And Northern Illinois Inc Chicago, IL | $9,345,951 | $7,242,725 |
Somercor 504 Inc Chicago, IL | $3,029,721 | $5,498,037 |
Chicago Minority Supplier Development Council Inc Chicago, IL | $1,146,742 | $3,861,380 |
Sdco 2121 Belmont Inc Chicago, IL | $50,394,223 | $3,094,881 |
American Academy Of Emergency Medicine Inc Milwaukee, WI | $5,226,963 | $3,404,237 |
Better Business Bureau Of Wisconsin Inc Milwaukee, WI | $5,171,220 | $3,579,852 |
Financial & Insurance Conference Professionals Chicago, IL | $5,858,048 | $2,460,356 |
Surplus Line Association Of Illinois Chicago, IL | $9,048,277 | $3,089,072 |