Bloomington-Normal Area Economic Development Council

Organization Overview

Bloomington-Normal Area Economic Development Council is located in Normal, IL. The organization was established in 1987. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2020, Bloomington-Normal Area Economic Development Council employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bloomington-Normal Area Economic Development 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 12/2020, Bloomington-Normal Area Economic Development Council generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.1% each year . All expenses for the organization totaled $713.5k during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

THE ECONOMIC DEVELOPMENT COUNCIL HELPS BUSINESSES IN MCLEAN COUNTY GROW AND ATTRACTS NEW BUSINESS TO THE COMMUNITY. THE EDC IS A LEADERSHIP ORGANIZATION, INVESTING IN THE COMMUNITY'S ASSETS TO GROW AND IMPROVE THE PROSPERITY AND QUALITY OF LIFE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ECONOMIC DEVELOPMENT PROGRAMS


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Board, Officers & Key Employees

Name (title)Compensation
Patrick Hoban
CEO
$218,050
John Hesse
Past Chair
$0
Bill Lawrence
Chair
$0
Cindy Blackburn
Board Member
$0
Amelia Buragas
Board Member
$0
Neil Finlen
Board Member
$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$547,773
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$547,773
Total Program Service Revenue$42,861
Investment income $600
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 $1,149,476

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Bloomington-Normal Area Economic Development Council has recieved totaling $15,000.

Awarding OrganizationAmount
Osf Healthcare System

Peoria, IL

PURPOSE: SUPPORT OF ORG OPERATIONS

$15,000
View Grant Recipient Profile

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