Civic Intelligence

Rockford Area Strategic Initiatives

EIN 27-0964918 • 501(c)3 • Rockford, IL

Profile

The primary role of the rockford area strategic initiative is to enhance education, commerce, trade and economic development in the rockford region

308 W State Street Suite 190Rockford, IL 61101

rockfordil.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

92nd percentile

0.83x

Higher debt load relative to assets than 92% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

89th percentile

0.31x

Higher debt load relative to revenue than 89% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

44th percentile

-0.1%

Higher net margin than 44% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

99th percentile

$158,229

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 44.2% of source-year revenue.

501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

98th percentile

481%

Faster asset growth than 98% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

93rd percentile

126%

Faster revenue growth than 93% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Assets

Up

$134,782

Up $111,586 (+481%) from 2023

Liabilities

Up

$111,915

Up $44,567 (+66%) from 2023

Net Assets

Up

$22,867

Up $67,019 (+152%) from 2023

Revenue

Up

$358,096

Up $199,706 (+126%) from 2023

Expenses

Up

$358,425

Up $199,742 (+126%) from 2023

Net Income

Down

-$329

Down $36 (-12%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0-$500KAssets 2011: $1,217,528Liabilities 2011: $234,028Net Assets 2011: $983,5002011Assets 2012: $1,210,159Liabilities 2012: $191,264Net Assets 2012: $1,018,8952012Assets 2013: $1,138,291Liabilities 2013: $348,477Net Assets 2013: $789,8142013Assets 2014: $732,297Liabilities 2014: $298,709Net Assets 2014: $433,5882014Assets 2015: $327,886Liabilities 2015: $11,627Net Assets 2015: $316,2592015Assets 2016: $271,267Liabilities 2016: $7,150Net Assets 2016: $264,1172016Assets 2017: $133,666Liabilities 2017: $11,468Net Assets 2017: $122,1982017Assets 2019: $86,929Liabilities 2019: $4,461Net Assets 2019: $82,4682019Assets 2021: $25,868Liabilities 2021: $37,627Net Assets 2021: -$11,7592021Assets 2022: $23,490Liabilities 2022: $67,349Net Assets 2022: -$43,8592022Assets 2023: $23,196Liabilities 2023: $67,348Net Assets 2023: -$44,1522023Assets 2024: $134,782Liabilities 2024: $111,915Net Assets 2024: $22,8672024

Highlighted filing

2024

Assets$134,782
Liabilities$111,915
Net Assets$22,867

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2011: $1,108,6922011Expenses 2012: $1,472,3062012Revenue 2013: $1,131,683Expenses 2013: $1,360,764Net Income 2013: -$229,0812013Revenue 2014: $1,097,553Expenses 2014: $1,453,778Net Income 2014: -$356,2252014Revenue 2015: $136,633Expenses 2015: $253,963Net Income 2015: -$117,3302015Revenue 2016: -$26,106Expenses 2016: $26,036Net Income 2016: -$52,1422016Revenue 2017: $4,534Expenses 2017: $146,453Net Income 2017: -$141,9192017Revenue 2019: $758Expenses 2019: $12,361Net Income 2019: -$11,6032019Revenue 2021: $83,200Expenses 2021: $133,377Net Income 2021: -$50,1772021Revenue 2022: $100,863Expenses 2022: $132,963Net Income 2022: -$32,1002022Revenue 2023: $158,390Expenses 2023: $158,683Net Income 2023: -$2932023Revenue 2024: $358,096Expenses 2024: $358,425Net Income 2024: -$3292024

Highlighted filing

2024

Revenue$358,096
Expenses$358,425
Net Income-$329

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Sep 25, 2025
Return Version
2024v5.0
Gross Receipts
$358,096
Mission and Program Overview

Mission

The primary role of the rockford area strategic initiative is to enhance education, commerce, trade and economic developemnt in the rockford region.

The primary role of the rockford area strategic initiative is to enhance education, commerce, trade and economic development in the rockford region

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable-$76,114-
Cash and Non-Interest-Bearing Accounts$23,196$58,668▲ $35,472
Total Assets$23,196$134,782▲ $111,586
Liabilities
Accounts Payable and Accrued Expenses$67,348$111,915▲ $44,567
Total Liabilities$67,348$111,915▲ $44,567
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-44,152$22,867▲ $67,019
Total Net Assets Fund Balance$-44,152$22,867▲ $67,019
Total Liabilities and Net Assets / Fund Balance$23,196$134,782▲ $111,586
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Angela LarsonDirectorPT$85,474$85,474

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$357,525
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$571
All Other Contributions
$150,000
Change in Net Assets
$-329

Audited Revenue Reconciliation

Revenue per Audited Statements
$358,096
Total Revenue per Audited Statements
$358,096
Total Revenue per Form 990
$358,096
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$357,525
Other Expenses$900
Total Fundraising Expense$225
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$357,525--$357,525
Fees for Services Accounting$450$225$225$900
Total Functional Expenses$357,975$225$225$358,425

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$358,425
Total Expenses per Audited Statements$358,425
Total Expenses per Form 990$358,425
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Greater Rockford Chamber of CommercRockford, IL501c6-$357,525
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
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The board of directors has given authority to the executive committee to review the 990 prior to filing.

Form 990, Page 6, Part VI, Line 12C

Each board member must complete a conflict of interset statement on an annual basis

Form 990, Page 6, Part VI, Line 19

AVAILABLE UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Rockford Area Strategic Initiatives
EIN
27-0964918
Phone
8159878100
Address
308 W STATE STREET SUITE 190, ROCKFORD, IL 61101

Signing Officer

Name
Caitlin Pusateri
Title
Director
Phone
8153164337
Signed
2025-09-25

Organization Details

Principal Officer
Caitlin Pusateri
Formed
2009
Legal Domicile
Il
Voting Board Members
21
Independent Board Members
21
Employees
0
Volunteers
21

Preparer

Firm
Benning Group LLC
Address
6815 WEAVER RD STE 300, ROCKFORD, IL 61114-8060
Preparer
Curtis D Kleckler
Phone
8153162375
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

The chamber is a nonprofit organization and is exempt from federal and state income taxes under internal revenue code section 501(c)(6). Rasi is a nonprofit organization and is exempt from federal and state income taxes under internal revenue code section 501(c)(3). As a result, there is no provision for income taxes in the financial statements for either organization . The chamber and rasi are subject to taxation on unrelated business income. During the year ended december 31, 2024, no payments or provisions for unrelated business income tax were required. Management of the chamber has evaluated for and determined there are no uncertain tax positions as of december 31, 2024. The chamber and rasi are subject to informational reporting requirements in the united states federal jurisdiction and the state of illinois and file separately with the taxing authorities as they each deem appropriate.

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IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
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IRS990/MissionDesc0THE PRIMARY ROLE OF THE ROCKFORD AREA STRATEGIC INITIATIVE IS TO ENHANCE EDUCATION, COMMERCE, TRADE AND ECONOMIC DEVELOPMENT IN THE ROCKFORD REGION
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IRS990/ProgSrvcAccomActy2Grp/Desc0ECONOMIC DEVELOPMENT INVESTMENT: RASI SUPPORTS STRATEGIC ECONOMIC DEVELOPMENT EFFORTS THAT ENHANCE BUSINESS GROWTH AND COMPETITIVENESS IN THE ROCKFORD REGION.
IRS990/ProgSrvcAccomActy3Grp/Desc0COMMUNITY PARTNERSHIPS AND STRATEGIC INITIATIVES: RASI INVESTS IN PARTNERSHIPS THAT ENHANCE QUALITY OF LIFE AND STRENGTHEN THE COMMUNITY'S ECONOMIC VITALITY.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART III, LINE 12
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CHAMBER IS A NONPROFIT ORGANIZATION AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(6). RASI IS A NONPROFIT ORGANIZATION AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). AS A RESULT, THERE IS NO PROVISION FOR INCOME TAXES IN THE FINANCIAL STATEMENTS FOR EITHER ORGANIZATION . THE CHAMBER AND RASI ARE SUBJECT TO TAXATION ON UNRELATED BUSINESS INCOME. DURING THE YEAR ENDED DECEMBER 31, 2024, NO PAYMENTS OR PROVISIONS FOR UNRELATED BUSINESS INCOME TAX WERE REQUIRED. MANAGEMENT OF THE CHAMBER HAS EVALUATED FOR AND DETERMINED THERE ARE NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2024. THE CHAMBER AND RASI ARE SUBJECT TO INFORMATIONAL REPORTING REQUIREMENTS IN THE UNITED STATES FEDERAL JURISDICTION AND THE STATE OF ILLINOIS AND FILE SEPARATELY WITH THE TAXING AUTHORITIES AS THEY EACH DEEM APPROPRIATE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleI/RecipientTable/IRCSectionDesc0501C6
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0GREATER ROCKFORD CHAMBER OF COMMERC
IRS990ScheduleI/RecipientTable/RecipientEIN0861203372
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0308 W STATE STREET SUITE 190
IRS990ScheduleI/RecipientTable/USAddress/CityNm0ROCKFORD
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0ROCKFORD AREA STRATEGIC INITIATIVES (RASI) SUPPORTS THE GREATER ROCKFORD CHAMBER OF COMMERCE (GRCC) WHICH IS A 501(C)6 ORGANIZATION THAT DELIVERS BENEFIT TO THE COMMUNITY BY LEADING IN THE PROMOTION OF ECONOMIC GROWTH, ADVOCATING FOR THE INTERESTS OF BUSINESS AND PROVIDING SERVICE AND EDUCATION OPPORTUNITIES THAT HELP THEIR MEMBERS GROW. RASI REGULARLY REVIEWS GRCC'S FINANCIAL INFORMATION TO ENSURE AMOUNTS CONTRIBUTED ARE SPENT ON ITS INTENDED PURPOSE.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
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