Greater Waukegan Development Coalition
- Assets
- $640.6k
- Revenue
- $746.6k
- Investments
- $0.0
- Employees
- 8
- Location
- Waukegan, IL
- Founding
- 02/2014
- Data as of
- 06/2023
- EIN
- 45-4807745
Organization Overview
Greater Waukegan Development Coalition, operating under the name Gwdc, is located in Waukegan, IL. The organization was established in 2014. 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 06/2023, Gwdc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gwdc 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 06/2023, Gwdc generated $746.6k in total revenue. All expenses for the organization totaled $652.7k during the year ending 06/2023. While expenses have increased by 18.7% per year over the past 5 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
WE STRENGTHEN COMMUNITIES THROUGH LOCAL ENTREPRENEURSHIP, TRANSFORMATIVE REAL ESTATE DEVELOPMENT, AND ACCESS TO CAPITAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SMALL BUSINESS SUPPORT (FORMERLY PROGRAM DEVELOPMENT): THIS PROGRAM PROVIDES TECHNICAL ASSISTANCE AND VARIOUS FORMS OF SMALL BUSINESS SUPPORT. KEY ACCOMPLISHMENTS THIS YEAR INCLUDED ASSEMBLING A STEERING COMMITTEE OF LEADERS OF KEY LOCAL INSTITUTIONS AND EDUCATING/GRADUATING 15 BUSINESSES FROM THE INAUGURAL GWDC COMMUNITY CONTRACTING PROCUREMENT ACADEMY.
INNOVATES: THE GWDC FACILITY IS A REMODELED, REPURPOSED 8,000 SQUARE FOOT FORMER POLICE SUB-STATION IN DOWNTOWN WAUKEGAN CONTAINING CONFERENCE/TRAINING ROOMS, MEETING SPACES, AND STATE-OF-THE-ART NETWORKING AND TELECOMMUNICATIONS SYSTEMS. THIS FACILITY CURRENTLY SERVES AS AN ECONOMIC DEVELOPMENT CENTER. IN THIS FISCAL YEAR, IT HOUSED ALL OF GWDC'S PROGRAMS, AS WELL AS OFFICE SPACE FOR LOCAL NONPROFITS AND SMALL BUSINESSES.
RAY BRADBURY EXPERIENCE MUSEUM - AN EXPERIENTIAL MUSEUM DEDICATED TO HOMETOWN AUTHOR RAY BRADBURY. PROGRAMMING CENTERS ON RAY BRADBURY'S ROOTS IN WAUKEGAN, HIS ROLE IN SHAPING THE 20TH CENTURY, AND HIS VISION FOR A BETTER FUTURE. THE MUSEUM WAS CLOSED IN SPRING OF 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darren Miller Secretary, General Counsel (non-Voting) | Officer | 1 | $2,400 |
Carrie Espinosa Board Member | Trustee | 1 | $0 |
Caryn Kahn Board Member | Trustee | 1 | $0 |
Matthew Hixon Board Treasurer | OfficerTrustee | 5 | $0 |
Shai Lothan Board Chair | OfficerTrustee | 10 | $0 |
Michael Edgar President Thru Feb 2023 | OfficerTrustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $497,532 |
| All other contributions, gifts, grants, and similar amounts not included above | $235,698 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $733,230 |
| Total Program Service Revenue | $13,410 |
| 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 | $746,640 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $112,938 |
| 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. | $2,400 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $156,863 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,803 |
| Payroll taxes | $31,339 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,889 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $1,050 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $167,218 |
| Advertising and promotion | $21,074 |
| Office expenses | $4,160 |
| Information technology | $11,047 |
| Royalties | $0 |
| Occupancy | $88,304 |
| Travel | $5,342 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,442 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,427 |
| Insurance | $3,366 |
| All other expenses | $0 |
| Total functional expenses | $652,673 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,847 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $338,389 |
| 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 | $202 |
| Net Land, buildings, and equipment | $277,124 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $640,562 |
| Accounts payable and accrued expenses | $127,187 |
| Grants payable | $112,938 |
| 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 | $535,826 |
| Secured mortgages and notes payable | $806,285 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,582,236 |
| Net assets without donor restrictions | -$966,674 |
| Net assets with donor restrictions | $25,000 |
| 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 | $640,562 |