Illinois Business Innovation Services
- Assets
- $0.0
- Revenue
- $654.7k
- Investments
- $0.0
- Employees
- 16
- Location
- Lagrange, IL
- Founding
- 07/2015
- Data as of
- 12/2020
- EIN
- 38-3906070
Organization Overview
Illinois Business Innovation Services is located in Lagrange, IL. The organization was established in 2015. 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. As of 12/2020, Illinois Business Innovation Services employed 16 individuals. Illinois Business Innovation Services 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 12/2020, Illinois Business Innovation Services generated $654.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (20.1%) each year. All expenses for the organization totaled $816.8k during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SUPERIOR EDUCATIONAL TRAINING AND EDUCATION TO PROMOTE JOB CREATION AND RETENTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SUPERIOR EDUCATIONAL TRAINING TO PROMOTE A THRIVING U.S. ECONOMIC BASE BY PROVIDING EXCEPTIONAL HIGH QUALITY EDUCATION IN NUMEROUS DISCIPLINES THAT CREATE AND RETAIN JOBS.
PROVIDE SUPERIOR EDUCATIONAL TRAINING TO PROMOTE A THRIVING U.S. ECONOMIC BASE BY PROVIDING EXCEPTIONAL HIGH QUALITY EDUCATION IN NUMEROUS DISCIPLINES THAT CREATE AND RETAIN JOBS.
PROVIDE SUPERIOR EDUCATIONAL TRAINING TO PROMOTE A THRIVING U.S. ECONOMIC BASE BY PROVIDING EXCEPTIONAL HIGH QUALITY EDUCATION IN NUMEROUS DISCIPLINES THAT CREATE AND RETAIN JOBS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandra Malikowski Former Treasurer | 40 | $136,185 | |
Sharon Andersohn Former Secretary | 40 | $135,500 | |
Michael Mccauley Instructor | 55.98 | $134,829 | |
Francene Pelmon Instructor | 40 | $117,929 | |
Steven Gilbert Instructor | 48.5 | $107,244 | |
Todd Stukenberg Former President | 40 | $103,451 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $150,766 |
| 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 | $150,766 |
| Total Program Service Revenue | $213,648 |
| Investment income | $3 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,331 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $654,749 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $511,465 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $89,296 |
| Payroll taxes | $39,299 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $40,538 |
| Advertising and promotion | $777 |
| Office expenses | $3,732 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $80,872 |
| Travel | $1,123 |
| 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 | $8,689 |
| Insurance | $7,099 |
| All other expenses | $1,907 |
| Total functional expenses | $816,808 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 |
| 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 | $0 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $0 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Illinois Business Innovation Services has recieved totaling $31,500.
| Awarding Organization | Amount |
|---|---|
Chicagoland Chamber Of Commerce Chicago, IL PURPOSE: Training | $31,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
16 Tech Community Corporation Indianapolis, IN | $90,414,871 | $43,820,376 |
Chicago Convention & Tourism Bureau Inc Chicago, IL | $13,640,210 | $19,015,508 |
Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
Vocational Development Center Inc Council Bluffs, IA | $12,984,673 | $16,204,305 |
Southern Iowa Economic Development Association Ottumwa, IA | $4,848,905 | $15,262,424 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
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 |