Land Of Lincoln Economic Development Corporation
- Assets
- $2.3m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 4
- Location
- Springfield, IL
- Founding
- 10/2019
- Data as of
- 12/2022
- EIN
- 82-4479816
Organization Overview
Land Of Lincoln Economic Development Corporation, operating under the name Springfield Sangamon Growth Alliance, is located in Springfield, IL. The organization was established in 2019. 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. As of 12/2022, Springfield Sangamon Growth Alliance employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Springfield Sangamon Growth Alliance 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 12/2022, Springfield Sangamon Growth Alliance generated $1.6m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $1.7m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PURSUE ECONOMIC PROSPERITY AND GROWTH FOR SANGAMON COUNTY AND THE CITY OF SPRINGFIELD BY CREATING A FINANCIALLY SOUND COMMUNITY ABLE TO ATTRACT NEW BUSINESSES AND SKILLED TALENT, WHILE RETAINING THE PROFITABLE COMPANIES AND LOCAL WORKFORCE WHO ALREADY MAKE SANGAMON COUNTY THEIR HOME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LLEDC CONTINUED AND GREW THE BUSINESS RETENTION AND EXPANSION (BRE) PROGRAM THAT WAS STARTED IN 2021. AT THE BRE MEETINGS, LLEDC STAFF ALSO WORKS TO ENCOURAGE BUSINESSES TO EXPAND AND CONNECT THEM TO RESOURCES TO ASSIST THEM. THE COMMUNITY MARKETING CAMPAIGN CONTINUES TO BE SUCCESSFUL WITH OVER 5 MILLION VIEWS OF THE DIGITAL MARKETING EFFORTS. WORKERS IN THE COMMUNITY STAYED ENGAGED WITH THE METRO AREA SURPASSING ITS PRE-PANDEMIC EMPLOYMENT LEVELS AND AVERAGE WAGES ALSO SHOWING SIGNIFICANT INCREASES. TOTAL EMPLOYMENT INCREASED MORE THAN 2% OVER THE PREVIOUS YEAR AND MORE THAN 1.5% OVER PRE-PANDEMIC LEVELS. MAJOR ENERGY DEVELOPMENTS CONTINUE WITH THE $800 MILLION DOUBLE BLACK DIAMOND SOLAR DEVELOPMENT BREAKING GROUND IN OCTOBER 2022. STAFF MADE DOZENS OF VISITS WITH NATIONAL SITE SELECTION CONSULTANTS TO GROW THEIR AWARENESS OF THE COMMUNITY IN REGARDS TO BUSINESS ATTRACTION OPPORTUNITIES AND LOCATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Aiello Chair | OfficerTrustee | 2 | $0 |
Ed Curtis Vice-Chair | OfficerTrustee | 1 | $0 |
Sarah Phalen Treasurer | OfficerTrustee | 2 | $0 |
Dr Charlotte Warren Secretary | OfficerTrustee | 2 | $0 |
Satch Pecori Chair Of The Nominating Co | Trustee | 1 | $0 |
Dan Dungan Immediate Past Chair | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $704,335 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $850,000 |
| 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 | $1,554,335 |
| Total Program Service Revenue | $0 |
| Investment income | $10,813 |
| 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 | $1,565,148 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $65,000 |
| 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. | $199,498 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $282,467 |
| Pension plan accruals and contributions | $14,465 |
| Other employee benefits | $36,020 |
| Payroll taxes | $33,446 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,106 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $444,110 |
| Advertising and promotion | $350,104 |
| Office expenses | $6,079 |
| Information technology | $23,138 |
| Royalties | $0 |
| Occupancy | $61,576 |
| Travel | $33,956 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,499 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,150 |
| Insurance | $4,669 |
| All other expenses | $405 |
| Total functional expenses | $1,742,108 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,114,064 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $86,250 |
| 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 | $24,425 |
| Net Land, buildings, and equipment | $46,535 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $55,970 |
| Total assets | $2,327,244 |
| Accounts payable and accrued expenses | $112,612 |
| 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 | $89,579 |
| Total liabilities | $202,191 |
| Net assets without donor restrictions | $2,038,803 |
| Net assets with donor restrictions | $86,250 |
| 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 | $2,327,244 |
Grants Awarded
Over the last fiscal year, Land Of Lincoln Economic Development Corporation has awarded $102,900 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE GREATER SPRINGFIELD CHAMBER OF COMMERCE PURPOSE: UNRENTED LEASE SPACE | $37,900 |
UIS INNOVATE SPRINGFIELD PURPOSE: BUSINESS INCUBATION PROGRAMMING | $65,000 |