Civic Intelligence

Grundy Economic Development Council

990 • Fiscal year 2020 • EIN 22-3872361

Jan 01, 2020 to Dec 31, 2020 • Filed on May 03, 2021

Organization ProfileWWW.GEDC.COM
112 E Washington StMorris, IL 60450

(815) 942-0163

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

52nd percentile

0.01x

Higher debt load relative to assets than 52% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

53rd percentile

0.01x

Higher debt load relative to revenue than 53% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Net Margin

69th percentile

15%

Higher net margin than 69% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Top Officer Pay

70th percentile

$0

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Asset Growth

68th percentile

15%

Faster asset growth than 68% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

91st percentile

21%

Faster revenue growth than 91% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Up

$423,744

Up $55,063 (+15%) from 2019

Net Assets

Up

$420,320

Up $53,135 (+14%) from 2019

Liabilities

Up

$3,424

Up $1,928 (+129%) from 2019

Revenue And Expenses
Liabilities / Revenue53rd percentileNet Margin69th percentile

Revenue

Up

$357,531

Up $61,057 (+21%) from 2019

Expenses

Down

$304,396

Down $9,290 (-3.0%) from 2019

Net Income

Up

$53,135

Up $70,347 (+409%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth68th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0Assets 2011: $375,730Liabilities 2011: $5,280Net Assets 2011: $370,4502011Assets 2012: $371,160Liabilities 2012: $5,150Net Assets 2012: $366,0102012Assets 2013: $388,331Liabilities 2013: $7,078Net Assets 2013: $381,2532013Assets 2014: $382,741Liabilities 2014: $5,281Net Assets 2014: $377,4602014Assets 2015: $377,673Liabilities 2015: $3,299Net Assets 2015: $374,3742015Assets 2016: $393,342Liabilities 2016: $886Net Assets 2016: $392,4562016Assets 2017: $374,128Liabilities 2017: $1,474Net Assets 2017: $372,6542017Assets 2018: $387,269Liabilities 2018: $2,872Net Assets 2018: $384,3972018Assets 2019: $368,681Liabilities 2019: $1,496Net Assets 2019: $367,1852019Assets 2020: $423,744Liabilities 2020: $3,424Net Assets 2020: $420,3202020Assets 2021: $440,846Liabilities 2021: $4,035Net Assets 2021: $436,8112021Assets 2022: $501,002Liabilities 2022: $54,456Net Assets 2022: $446,5462022Assets 2023: $520,401Liabilities 2023: $0Net Assets 2023: $520,4012023Assets 2024: $564,397Liabilities 2024: $850Net Assets 2024: $563,5472024Assets 2025: $560,992Liabilities 2025: $44Net Assets 2025: $560,9482025

Highlighted filing

2020

Assets$423,744
Liabilities$3,424
Net Assets$420,320
Open 2020 Filing

Operations Trend

Revenue Growth91st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2011: $234,781Expenses 2011: $242,266Net Income 2011: -$7,4852011Revenue 2012: $247,496Expenses 2012: $251,936Net Income 2012: -$4,4402012Revenue 2013: $258,549Expenses 2013: $243,306Net Income 2013: $15,2432013Revenue 2014: $250,117Expenses 2014: $253,910Net Income 2014: -$3,7932014Revenue 2015: $244,210Expenses 2015: $247,296Net Income 2015: -$3,0862015Revenue 2016: $300,231Expenses 2016: $282,149Net Income 2016: $18,0822016Revenue 2017: $273,879Expenses 2017: $293,681Net Income 2017: -$19,8022017Revenue 2018: $304,661Expenses 2018: $293,751Net Income 2018: $10,9102018Revenue 2019: $296,474Expenses 2019: $313,686Net Income 2019: -$17,2122019Revenue 2020: $357,531Expenses 2020: $304,396Net Income 2020: $53,1352020Revenue 2021: $308,134Expenses 2021: $291,643Net Income 2021: $16,4912021Revenue 2022: $362,312Expenses 2022: $352,576Net Income 2022: $9,7362022Revenue 2023: $466,293Expenses 2023: $392,438Net Income 2023: $73,8552023Revenue 2024: $449,237Expenses 2024: $405,365Net Income 2024: $43,8722024Revenue 2025: $484,483Expenses 2025: $487,082Net Income 2025: -$2,5992025

Highlighted filing

2020

Revenue$357,531
Expenses$304,396
Net Income$53,135
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 3, 2021
Return Version
2020v4.0
Gross Receipts
$357,693
Mission and Program Overview

Mission

The council provides development functions within grundy county.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$339,138$339,228▲ $90
Cash and Non-Interest-Bearing Accounts$16,508$69,311▲ $52,803
Accounts Receivable$10,500$11,250▲ $750
Land, Buildings, and Equipment, Net$2,305$3,955▲ $1,650
Prepaid Expenses and Deferred Charges$230$0▼ $230
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$368,681$423,744▲ $55,063
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$1,496$3,424▲ $1,928
Total Liabilities$1,496$3,424▲ $1,928
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$367,185$420,320▲ $53,135
Total Net Assets Fund Balance$367,185$420,320▲ $53,135
Total Liabilities and Net Assets / Fund Balance$368,681$423,744▲ $55,063

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$3,955$39,607$43,562
Compensation and Service Providers
Top Officer Pay70th percentile

Board Members and Trustees

NameTitle
Brett MadisonChairman
Tawnya MackVice Chairman
Andy SchwerhaTrustee
Ben HutchinsonTrustee
Chris BalkemaTrustee
Christina Van YperenTrustee
Jason WiesbrockTrustee
John AdlerTrustee
John MccannTrustee
Pete BrummelTrustee
Ryan HansenTrustee
Terry KerncTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$292,911
Program Service Revenue
$8,553
Investment Income
$6,867
Other Revenue
$49,200
All Other Contributions
$1,138
Change in Net Assets
$53,135
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$237,237
Other Expenses$67,159
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$198,117
Other Employee Benefits---$21,411
Occupancy---$20,544
Payroll Taxes---$17,709
All Other Expenses---$5,078
Fees for Services Accounting---$3,905
Insurance---$3,798
Other Expenses---$3,383
Information Technology---$2,505
Depreciation Depletion---$966
Office Expenses---$561
Travel---$473
Conferences and Meetings---$377
Total Functional Expenses$0$0$0$304,396
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“The organization's members pay annual dues in order to receive services and participate in programs provided by the organization.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“990 is reviewed by the organizations executive director prior to filing.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No other documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Grundy Economic Development Council
EIN
22-3872361
Phone
8159420163
Address
112 E WASHINGTON ST, MORRIS, IL 60450

Signing Officer

Name
Nancy Norton
Title
CEO
Signed
2021-05-03
Discuss with paid preparer
Yes

Organization Details

Formed
2002
Legal Domicile
Il
Voting Board Members
12
Independent Board Members
12
Employees
3

Preparer

Firm
Brian Zabel & Associates PC
Address
1040 West Route 6, Morris, IL 60450
Preparer
Tamra Roseland CPA
Phone
8159419833
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“Tax status in note 1 of audit”

Raw XML Appendix396 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OtherRevenueTotalAmt049200
IRS990/OtherSalariesAndWagesGrp/TotalAmt0198117
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IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt017709
IRS990/PensionPlanContributionsGrp/TotalAmt00
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0230
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IRS990/ProgSrvcAccomActy3Grp/Desc0COMMUNITY RELATIONS: THE COUNCIL USES THIS PROGRAM TO DISSEMINATE INFORMATION, SERVICES, AND ECONOMIC DEVELOPMENT OPPORTUNITIES AMONG ALL GRUNDY COUNTY COMMUNITIES AND RESIDENTS.
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IRS990/PYProgramServiceRevenueAmt019418
IRS990/PYRevenuesLessExpensesAmt0-17212
IRS990/PYSalariesCompEmpBnftPaidAmt0236225
IRS990/PYTotalExpensesAmt0313686
IRS990/PYTotalRevenueAmt0296474
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IRS990/ScheduleBRequiredInd0false
IRS990ScheduleC/AgreeCarryoverPriorYearInd0false
IRS990ScheduleC/Form1120POLFiledInd0false
IRS990ScheduleC/OnlyInHouseLobbyingInd0false
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt03955
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt039607
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt043562
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TAX STATUS IN NOTE 1 OF AUDIT
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03955
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S MEMBERS PAY ANNUAL DUES IN ORDER TO RECEIVE SERVICES AND PARTICIPATE IN PROGRAMS PROVIDED BY THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1990 IS REVIEWED BY THE ORGANIZATIONS EXECUTIVE DIRECTOR PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO OTHER DOCUMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/SignificantChangeInd0false
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0423744
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IRS990/TotalAssetsGrp/EOYAmt0423744
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IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01496
IRS990/TotalLiabilitiesEOYAmt03424
IRS990/TotalLiabilitiesGrp/BOYAmt01496
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IRS990/TotalProgramServiceRevenueAmt08553
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0368681
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0423744
IRS990/TravelGrp/TotalAmt0473
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0MORRIS
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060450
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0WWW.GEDC.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0NANCY NORTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GRUNDY ECONOMIC DEVELOPMENT COUNCIL
ReturnHeader/Filer/BusinessNameControlTxt0GRUN
ReturnHeader/Filer/EIN0223872361
ReturnHeader/Filer/PhoneNum08159420163
ReturnHeader/Filer/USAddress/AddressLine1Txt0112 E WASHINGTON ST
ReturnHeader/Filer/USAddress/CityNm0MORRIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060450
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0010802750
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Brian Zabel & Associates PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01040 West Route 6
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Morris
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060450
ReturnHeader/PreparerPersonGrp/PhoneNum08159419833
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TAMRA ROSELAND CPA
ReturnHeader/ReturnTs02021-05-03T07:58:29-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0NANCY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0NORTON
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$423,744
Liabilities
$3,424
Net assets
$420,320
Revenue
$357,531
Expenses
$304,396
Net income
$53,135
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$5.61$0.00$5.61$4.84$4.87$0.03
2024Detailed filing. Detailed filing data is available for this year.$5.64$0.01$5.64$4.49$4.05$0.44
2023Detailed filing. Detailed filing data is available for this year.$5.20$0.00$5.20$4.66$3.92$0.74
2022Detailed filing. Detailed filing data is available for this year.$5.01$0.54$4.47$3.62$3.53$0.10
2021Detailed filing. Detailed filing data is available for this year.$4.41$0.04$4.37$3.08$2.92$0.16
2020Detailed filing. Detailed filing data is available for this year.$4.24$0.03$4.20$3.58$3.04$0.53
2019Detailed filing. Detailed filing data is available for this year.$3.69$0.01$3.67$2.96$3.14$0.17
2018Detailed filing. Detailed filing data is available for this year.$3.87$0.03$3.84$3.05$2.94$0.11
2017Detailed filing. Detailed filing data is available for this year.$3.74$0.01$3.73$2.74$2.94$0.20
2016Detailed filing. Detailed filing data is available for this year.$3.93$0.01$3.92$3.00$2.82$0.18
2015Detailed filing. Detailed filing data is available for this year.$3.78$0.03$3.74$2.44$2.47$0.03
2014Detailed filing. Detailed filing data is available for this year.$3.83$0.05$3.77$2.50$2.54$0.04
2013Detailed filing. Detailed filing data is available for this year.$3.88$0.07$3.81$2.59$2.43$0.15
2012Summary only. Only limited summary data is available for this year.$3.71$0.05$3.66$2.47$2.52$0.04
2011Summary only. Only limited summary data is available for this year.$3.76$0.05$3.70$2.35$2.42$0.07