Chicago Regional Growth Corporation
- Assets
- $480.7k
- Revenue
- $434.9k
- Investments
- $0.0
- Employees
- 3
- Location
- Chicago, IL
- Founding
- 09/2018
- Data as of
- 12/2019
- EIN
- 82-3570310
Organization Overview
Chicago Regional Growth Corporation is located in Chicago, IL. The organization was established in 2018. 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 12/2019, Chicago Regional Growth Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago Regional Growth Corporation 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 12/2019, Chicago Regional Growth Corporation generated $434.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (34.5%) each year. All expenses for the organization totaled $601.6k during the year ending 12/2019. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
CRGC IS A REGIONAL ECONOMIC DEVELOPMENT ORGANIZATION THAT DRIVES COLLABORATION BETWEEN PUBLIC AND PRIVATE PARTNERS TO GENERATE INCLUSIVE GROWTH AND PROSPERITY ACROSS NORTHEASTERN ILLINOIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPORT GRANT PROGRAM PROVIDES SMALL AND MEDIUM-SIZED BUSINESS FUNDING AWARDS. EXPORTTECH IS A TECHNICAL ASSISTANCE PROGRAM FOR SMALL AND MEDIUM-SIZED BUSINESSES TO DEVELOP AN EXPORT STRATEGY PLAN WITH THE SUPPORT OF GOVERNMENT EXPORT ASSISTANCE ORGANIZATIONS AND INDUSTRY LEADERS. EXPORT PITCH COMPETITION PROVIDES SMALL AND MEDIUM-SIZED BUSINESSES THE OPPORTUNITY TO PRESENT THEIR STRATEGIES FOR EXPORT GROWITH FOR THE CHANCE TO WIN A CASH AWARD.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Hulseman Executive Director | Officer | 40 | $165,000 |
Alberto Paracchini Treasurer | OfficerTrustee | 2 | $0 |
Lauren C Cody Vice Chair | OfficerTrustee | 2 | $0 |
Jim Roolf Chair | OfficerTrustee | 2 | $0 |
Kevin Considine Secretary | OfficerTrustee | 2 | $0 |
Scott Koeppel Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $325,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $100,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $425,000 |
| Total Program Service Revenue | $9,477 |
| Investment income | $457 |
| 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 | $434,934 |
| 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. | $165,000 |
| Compensation of current officers, directors, key employees. | $13,274 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $118,573 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $37,683 |
| Payroll taxes | $20,649 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,146 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $185,964 |
| Advertising and promotion | $10,536 |
| Office expenses | $1,219 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,496 |
| Travel | $9,014 |
| 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 | $0 |
| Insurance | $7,152 |
| All other expenses | $1,718 |
| Total functional expenses | $601,619 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $288,165 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $187,500 |
| 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 | $5,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $480,665 |
| Accounts payable and accrued expenses | $14,421 |
| Grants payable | $79,287 |
| 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 | $93,708 |
| Net assets without donor restrictions | $170,632 |
| Net assets with donor restrictions | $216,325 |
| 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 | $480,665 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Chicago Regional Growth Corporation has recieved totaling $100,000.
| Awarding Organization | Amount |
|---|---|
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION | $100,000 |
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 |