Civic Intelligence

Oak Park Economic Development Corporation

EIN 36-2788088 • 501(c)4 • Oak Park, IL

Profile

To enhance the quality of life and economic health of Oak Park by:-Expanding its property tax base-Increasing sales tax revenue-Creating jobs in the Village-Retaining jobs in the Village

104 N Oak Park Ave 203Oak Park, IL 60301-1387

www.oakparkeconomicdevelopmentcorporation.org

Siviq Scores

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

Liabilities / Assets

88th percentile

0.52x

Higher debt load relative to assets than 88% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

75th percentile

0.27x

Higher debt load relative to revenue than 75% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Source year 2022

Net Margin

36th percentile

0.0%

Higher net margin than 36% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

90th percentile

34%

Faster asset growth than 90% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

59th percentile

10%

Faster revenue growth than 59% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Assets

Up

$285,638

Up $73,171 (+34%) from 2021

Liabilities

Up

$148,836

Up $73,171 (+97%) from 2021

Net Assets

Flat

$136,802

Flat from 2021

Revenue

Up

$558,987

Up $52,092 (+10%) from 2021

Expenses

Up

$558,987

Up $52,092 (+10%) from 2021

Net Income

Flat

$0

Flat from 2021

Trend Graphs

Balance Sheet Trend

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

$400K$300K$200K$100K$0Assets 2015: $324,202Liabilities 2015: $187,378Net Assets 2015: $136,8242015Assets 2017: $291,036Liabilities 2017: $99,182Net Assets 2017: $191,8542017Assets 2018: $143,510Liabilities 2018: $56,709Net Assets 2018: $86,8012018Assets 2019: $172,492Liabilities 2019: $58,816Net Assets 2019: $113,6762019Assets 2020: $229,553Liabilities 2020: $92,751Net Assets 2020: $136,8022020Assets 2021: $212,467Liabilities 2021: $75,665Net Assets 2021: $136,8022021Assets 2022: $285,638Liabilities 2022: $148,836Net Assets 2022: $136,8022022

Highlighted filing

2022

Assets$285,638
Liabilities$148,836
Net Assets$136,802

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2015: $538,885Expenses 2015: $521,802Net Income 2015: $17,0832015Revenue 2017: $670,818Expenses 2017: $670,818Net Income 2017: $02017Revenue 2018: $676,073Expenses 2018: $781,126Net Income 2018: -$105,0532018Revenue 2019: $573,453Expenses 2019: $546,578Net Income 2019: $26,8752019Revenue 2020: $543,858Expenses 2020: $520,732Net Income 2020: $23,1262020Revenue 2021: $506,895Expenses 2021: $506,895Net Income 2021: $02021Revenue 2022: $558,987Expenses 2022: $558,987Net Income 2022: $02022

Highlighted filing

2022

Revenue$558,987
Expenses$558,987
Net Income$0

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 6, 2023
Return Version
2022v5.0
Gross Receipts
$558,987
Mission and Program Overview

Mission

To enhance the quality of life and economic health of Oak Park by:-Expanding its property tax base-Increasing sales tax revenue-Creating jobs in the Village-Retaining jobs in the Village

Increasing sales tax revenue - creating jobs in the village - retaining jobs in the village

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$64,445$114,465▲ $50,020
Savings and Temporary Cash Investments$132,081$93,029▼ $39,052
Land, Buildings, and Equipment, Net$9,178$8,370▼ $808
Prepaid Expenses and Deferred Charges$6,763$6,754▼ $9
Total Assets$212,467$285,638▲ $73,171
Other Assets Total$0$63,020▲ $63,020
Liabilities
Accounts Payable and Accrued Expenses$59,574$73,296▲ $13,722
Other Liabilities$0$63,020▲ $63,020
Grants Payable$16,091$12,520▼ $3,571
Total Liabilities$75,665$148,836▲ $73,171
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$136,802$136,802→ $0
Total Net Assets Fund Balance$136,802$136,802→ $0
Total Liabilities and Net Assets / Fund Balance$212,467$285,638▲ $73,171

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$8,370$9,130$17,500
Other Land Buildings$0$15,530$15,530
Other Assets Org$63,020--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John LynchExecutive DirectorFT$192,500$55,400$247,900

Board Members and Trustees

NameTitle
Aaron JosephChair
Melissa ClevelandDirector
Mike WarrenDirector
Kevin JacksonNon-voting Director
Susan BuchananNon-voting Director
Vicki ScarmanNon-voting Director
David KennedySecretary
Sandeep SoodTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$558,980
Program Service Revenue
$0
Investment Income
$7
Other Revenue
$0
Change in Net Assets
$0

Audited Revenue Reconciliation

Revenue per Audited Statements
$558,987
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$12,415
Total Revenue per Audited Statements
$571,402
Total Revenue per Form 990
$558,987
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$451,293
Other Expenses$107,694
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$223,110$24,790-$247,900
Other Salaries and Wages$160,831$17,871-$178,702
Office Expenses$20,407$6,712-$27,119
Payroll Taxes$22,221$2,470-$24,691
Insurance$18,912$2,101-$21,013
Occupancy$17,296$1,922-$19,218
Fees for Services Accounting-$16,900-$16,900
Conferences and Meetings-$7,503-$7,503
Other Expenses$290$5,502-$5,792
Advertising$5,500--$5,500
Fees for Services Other$3,111$730-$3,841
Depreciation Depletion-$808-$808
Total Functional Expenses$471,678$87,309$0$558,987

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$571,402
Expenses per Audited Statements$558,987
Total Expenses per Form 990$558,987
Expenses Not Reported on Form 990$12,415
Expenses Not Reported on Financial Statements$0
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$63,020
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The organization has members who vote on board members at an annual meeting.

Form 990, Part VI, Section A, Line 7A

The members vote every three years on the board of directors new and continuing board members.

Form 990, Part VI, Section B, Line 11B

The form 990 will be reviewed by the executive director of opedc prior to filing and a copy is supplied to the board of directors after it is accepted, if requested.

Form 990, Part VI, Section B, Line 12C

Conflict of interest is reviewed and signed annually by all officers and directors. If projects arise during the year that create new conflict, board members recuse themselves. New members are required to sign a conflict of interest immediately.

Form 990, Part VI, Section B, Line 15

Compensation for the executive director is reviewed and determined by the executive members (all board members) of the opedc board after the first day of the year. Compensation, other than the executive director is determined by the executive director.

Form 990, Part VI, Section C, Line 19

All information is available upon request.

Filing and Contact Details

Filer

Filer Name
Oak Park Economic Development Corp
EIN
36-2788088
Phone
7083833838
Address
104 N OAK PARK AVE 203, OAK PARK, IL 60301-1387

Signing Officer

Name
Aaron Joseph
Title
President
Phone
7083833838
Signed
2023-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Aaron Joseph
Formed
1974
Legal Domicile
Il
Voting Board Members
5
Independent Board Members
5
Employees
3
Volunteers
8

Preparer

Firm
Sassetti LLC
Address
2107 SWIFT DRIVE SUITE 210, OAK BROOK, IL 60523
Preparer
Jeff Schroeder
Phone
7083861433
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0558987
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08370
IRS990ScheduleD/TotalBookValueOtherAssetsAmt063020
IRS990ScheduleD/TotalExpensesPerForm990Amt0558987
IRS990ScheduleD/TotalLiabilityAmt063020
IRS990ScheduleD/TotalRevenuePerForm990Amt0558987
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0571402
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0571402
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0192500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount050000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt05400
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOHN LYNCH
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0247900
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE EXECUTIVE DIRECTOR'S SALARY IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS MEMBERS WHO VOTE ON BOARD MEMBERS AT AN ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBERS VOTE EVERY THREE YEARS ON THE BOARD OF DIRECTORS NEW AND CONTINUING BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 WILL BE REVIEWED BY THE EXECUTIVE DIRECTOR OF OPEDC PRIOR TO FILING AND A COPY IS SUPPLIED TO THE BOARD OF DIRECTORS AFTER IT IS ACCEPTED, IF REQUESTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONFLICT OF INTEREST IS REVIEWED AND SIGNED ANNUALLY BY ALL OFFICERS AND DIRECTORS. IF PROJECTS ARISE DURING THE YEAR THAT CREATE NEW CONFLICT, BOARD MEMBERS RECUSE THEMSELVES. NEW MEMBERS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST IMMEDIATELY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION FOR THE EXECUTIVE DIRECTOR IS REVIEWED AND DETERMINED BY THE EXECUTIVE MEMBERS (ALL BOARD MEMBERS) OF THE OPEDC BOARD AFTER THE FIRST DAY OF THE YEAR. COMPENSATION, OTHER THAN THE EXECUTIVE DIRECTOR IS DETERMINED BY THE EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL INFORMATION IS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0212467
IRS990/TotalAssetsEOYAmt0285638
IRS990/TotalAssetsGrp/BOYAmt0212467
IRS990/TotalAssetsGrp/EOYAmt0285638
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt0558980
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt087309
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0471678
IRS990/TotalFunctionalExpensesGrp/TotalAmt0558987
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt075665
IRS990/TotalLiabilitiesEOYAmt0148836
IRS990/TotalLiabilitiesGrp/BOYAmt075665
IRS990/TotalLiabilitiesGrp/EOYAmt0148836
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0136802
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0136802
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0471678
IRS990/TotalReportableCompFromOrgAmt0247900
IRS990/TotalRevenueGrp/ExclusionAmt07
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0558987
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0212467
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0285638
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0104 N OAK PARK AVE 203
IRS990/USAddress/CityNm0OAK PARK
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd0603011387
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.OAKPARKEDC.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0AARON JOSEPH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07083833838
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OAK PARK ECONOMIC DEVELOPMENT CORP
ReturnHeader/Filer/BusinessNameControlTxt0OAKP
ReturnHeader/Filer/EIN0362788088
ReturnHeader/Filer/PhoneNum07083833838
ReturnHeader/Filer/USAddress/AddressLine1Txt0104 N OAK PARK AVE 203
ReturnHeader/Filer/USAddress/CityNm0OAK PARK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd0603011387
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0362239746
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SASSETTI LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02107 SWIFT DRIVE SUITE 210
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0OAK BROOK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL

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