Civic Intelligence

Oak Park Economic Development Corp

990 • Fiscal year 2015 • EIN 36-2788088

Jan 01, 2015 to Dec 31, 2015 • Filed on Sep 14, 2016

Organization Profilewww.oakparkeconomicdevelopmentcorporation.org
104 N Oak Park AvenueOak Park, IL 60301

(708) 383-3838

Siviq Scores

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

Liabilities / Assets

86th percentile

0.58x

Higher debt load relative to assets than 86% of similar nonprofits.

2015 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

72nd percentile

0.35x

Higher debt load relative to revenue than 72% of similar nonprofits.

2015 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2015

Net Margin

45th percentile

3.2%

Higher net margin than 45% of similar nonprofits.

2015 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

95th percentile

$138,331

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 25.7% of source-year revenue.

2015 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2015

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Balance Sheet
Liabilities / Assets86th percentile

Assets

$324,202

No earlier filing loaded for comparison.

Net Assets

$136,824

No earlier filing loaded for comparison.

Liabilities

$187,378

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin45th percentile

Revenue

$538,885

No earlier filing loaded for comparison.

Expenses

$521,802

No earlier filing loaded for comparison.

Net Income

$17,083

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$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

2015

Assets$324,202
Liabilities$187,378
Net Assets$136,824
Open 2015 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this 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

2015

Revenue$538,885
Expenses$521,802
Net Income$17,083
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Sep 14, 2016
Return Version
2015v2.0
Gross Receipts
$538,885
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

To enhance the quality of life and economic health of Oak Park

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$238,463$275,277▲ $36,814
Cash and Non-Interest-Bearing Accounts$18,811$19,085▲ $274
Land, Buildings, and Equipment, Net$17,444$16,241▼ $1,203
Prepaid Expenses and Deferred Charges$4,854$4,749▼ $105
Investments in Publicly Traded Securities$1,000$1,000→ $0
Accounts Receivable-$0-
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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$280,572$324,202▲ $43,630
Other Assets Total-$7,850-
Liabilities
Deferred Revenue$153,173$186,640▲ $33,467
Accounts Payable and Accrued Expenses$7,658$738▼ $6,920
Total Liabilities$160,831$187,378▲ $26,547
Net Assets / Fund Balance
Unrestricted Net Assets$119,688$136,824▲ $17,136
Temporarily Rstr Net Assets$53--
Total Net Assets Fund Balance$119,741$136,824▲ $17,083
Total Liabilities and Net Assets / Fund Balance$280,572$324,202▲ $43,630

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$14,024$3,476$17,500
Other Land Buildings$2,217$13,313$15,530
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
John LynchExecutive DirectorFT$134,375$3,956$138,331
John HedgesExecutive DirectorFT$77,942$2,278$80,220
Viktor M SchraderHceFT$72,204$2,155$74,359
Clair MaloHceFT$42,642$1,279$43,921
Christopher McCourtHceFT$700-$700

Board Members and Trustees

NameTitle
Martin J NollChairman
Thomas GallagherVice Chairman
Anan Abu-TalebDirector
Cara PavlicekDirector
Cathy YenDirector
Everett WardDirector
Peter BarberDirector
Frank PellegriniSecretary
Mary LudginTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$538,860
Program Service Revenue
$0
Investment Income
$25
Other Revenue
$0
All Other Contributions
$4,000
Change in Net Assets
$17,083

Audited Revenue Reconciliation

Revenue per Audited Statements
$538,885
Revenue Not Reported on Form 990
$32,874
Total Revenue per Audited Statements
$571,759
Total Revenue per Form 990
$538,885
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$362,243
Other Expenses$159,559
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-$218,551-$218,551
Other Salaries and Wages-$118,980-$118,980
Fees for Services Other-$65,520-$65,520
Payroll Taxes-$24,712-$24,712
Advertising-$24,130-$24,130
Occupancy-$15,626-$15,626
All Other Expenses-$11,912-$11,912
Fees for Services Accounting-$11,131-$11,131
Insurance-$7,968-$7,968
Other Expenses-$4,106-$4,106
Office Expenses-$2,663-$2,663
Depreciation Depletion-$2,395-$2,395
Total Functional Expenses$0$521,802$0$521,802

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$554,676
Expenses per Audited Statements$521,802
Total Expenses per Form 990$521,802
Expenses Not Reported on Form 990$32,874
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
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
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The Form 990 will be reviewed by the executive committee of OPEDC prior to filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Officers and Directors complete an annual conflict of interest statement affirming the individual has received, read and will comply with the policy. Any and all disclosures are made on the statement. It is signed and dated by the individual. Further, the policy is reiterated whenever appropriate.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Compensation for the Executive Director is determined by the Executive Committee.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Compensation, other than the Executive Director, is determined by the Executive Director.”

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

“All information is available upon request.”

Filing and Contact Details

Filer

Filer Name
Oak Park Economic Development
EIN
36-2788088
Phone
7083833838
Address
104 N Oak Park Avenue, Oak Park, IL 60301

Signing Officer

Name
John Lynch
Title
Executive Director
Signed
2016-09-14
Discuss with paid preparer
Yes

Organization Details

Formed
1974
Legal Domicile
Il
Voting Board Members
7
Independent Board Members
6
Employees
5
Volunteers
12

Preparer

Firm
Kenny & Kenny PC
Address
1400 West 47th Street Ste 4, La Grange, IL 60525-6148
Preparer
Timothy M Kenny
Phone
7083860600
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IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0To 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
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0119741
IRS990/NetAssetsOrFundBalancesEOYAmt0136824
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt015626
IRS990/OccupancyGrp/TotalAmt015626
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt02663
IRS990/OfficeExpensesGrp/TotalAmt02663
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/EOYAmt07850
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Dues/subscriptions
IRS990/OtherExpensesGrp/Desc1Workshop/conferences
IRS990/OtherExpensesGrp/Desc2Service Contracts
IRS990/OtherExpensesGrp/Desc3Miscellaneous Program Expenses
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt05759
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt14213
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt24136
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt34106
IRS990/OtherExpensesGrp/TotalAmt05759
IRS990/OtherExpensesGrp/TotalAmt14213
IRS990/OtherExpensesGrp/TotalAmt24136
IRS990/OtherExpensesGrp/TotalAmt34106
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0118980
IRS990/OtherSalariesAndWagesGrp/TotalAmt0118980
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt024712
IRS990/PayrollTaxesGrp/TotalAmt024712
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt04854
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt04749
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0375577
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0-619
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0100020
IRS990/PYOtherRevenueAmt073
IRS990/PYProgramServiceRevenueAmt01000
IRS990/PYRevenuesLessExpensesAmt0-89497
IRS990/PYSalariesCompEmpBnftPaidAmt0365508
IRS990/PYTotalExpensesAmt0465528
IRS990/PYTotalRevenueAmt0376031
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt017083
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0true
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0238463
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0275277
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt032874
IRS990ScheduleD/DonatedServicesUseFcltsAmt032874
IRS990ScheduleD/ExpensesNotReportedAmt032874
IRS990ScheduleD/ExpensesSubtotalAmt0521802
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt014024
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt03476
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt017500
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt02217
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt013313
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt015530
IRS990ScheduleD/RevenueNotReportedAmt032874
IRS990ScheduleD/RevenueSubtotalAmt0538885
IRS990ScheduleD/TotalBookValueLandBuildingsAmt016241
IRS990ScheduleD/TotalExpensesPerForm990Amt0521802
IRS990ScheduleD/TotalRevenuePerForm990Amt0538885
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0571759
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0554676
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Form 990 will be reviewed by the executive committee of OPEDC prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Officers and Directors complete an annual conflict of interest statement affirming the individual has received, read and will comply with the policy. Any and all disclosures are made on the statement. It is signed and dated by the individual. Further, the policy is reiterated whenever appropriate.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Compensation for the Executive Director is determined by the Executive Committee.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Compensation, other than the Executive Director, is determined by the Executive Director.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4All information is available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd0true
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0364333871
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C Corp
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0IL
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/OwnershipPct01.00000
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0Rental
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0Spa Inc
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfEOYAssetsAmt0110546
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfTotalIncomeAmt0-8929
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0PO Box 1335
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0Oak Park
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0IL
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd060303
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0true
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$324,202
Liabilities
$187,378
Net assets
$136,824
Revenue
$538,885
Expenses
$521,802
Net income
$17,083
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.86$1.49$1.37$5.59$5.59$0.00
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.12$0.76$1.37$5.07$5.07$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.30$0.93$1.37$5.44$5.21$0.23
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.72$0.59$1.14$5.73$5.47$0.27
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.44$0.57$0.87$6.76$7.81$1.05
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.91$0.99$1.92$6.71$6.71$0.00
2015Detailed filing. Detailed filing data is available for this year.$3.24$1.87$1.37$5.39$5.22$0.17