Corenet Global Inc
- Assets
- $340.4k
- Revenue
- $390.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Frankfort, IL
- Founding
- 08/2014
- Data as of
- 03/2024
- EIN
- 45-4944764
Organization Overview
Corenet Global Inc is located in Frankfort, IL. The organization was established in 2014. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Corenet Global Inc 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 03/2024, Corenet Global Inc generated $390.2k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $445.2k during the year ending 03/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EXCELLENCE IN LEADERSHIP, LEARNING, BEST PRACTICES, AND CAREER DEVELOPMENT TO CORPORATE REAL ESTATE PROFESSIONALS AND VALUE TO OUR RESPECTIVE ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHAPTER FACILITATED AND SPONSORED A VARIETY OF DIVERSIFIED PROGRAMS THAT PROVIDED MEMBERS EDUCATIONAL AND NETWORK OPPORTUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Cole President | OfficerTrustee | 5 | $0 |
Diana Pisone Vice President | OfficerTrustee | 4 | $0 |
Jason Streepy Treasurer | OfficerTrustee | 4 | $0 |
Scott Phillips Secretary | OfficerTrustee | 4 | $0 |
Sheila Sipes Chairman | OfficerTrustee | 4 | $0 |
Carly Johnston Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $30,725 |
| 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 | $30,725 |
| Total Program Service Revenue | $353,996 |
| Investment income | $15 |
| 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 | $390,165 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,389 |
| Grants and other assistance to domestic individuals. | $10,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $74,180 |
| 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 | $4,504 |
| Advertising and promotion | $0 |
| Office expenses | $20,450 |
| Information technology | $9,925 |
| Royalties | $0 |
| Occupancy | $43,178 |
| Travel | $867 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $198,043 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $727 |
| All other expenses | $2,983 |
| Total functional expenses | $445,240 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $191,060 |
| Savings and temporary cash investments | $133,320 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,000 |
| 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 | $340,380 |
| Accounts payable and accrued expenses | $21,823 |
| Grants payable | $0 |
| Deferred revenue | $94,700 |
| 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 | $116,523 |
| Net assets without donor restrictions | $223,857 |
| 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 | $340,380 |