Civic Intelligence

Oak Park Economic Development Corp

990 • Fiscal year 2016 • EIN 36-2788088

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 14, 2017

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

79th percentile

0.35x

Higher debt load relative to assets than 79% of similar nonprofits.

2016 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

62nd percentile

0.16x

Higher debt load relative to revenue than 62% of similar nonprofits.

2016 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2016

Net Margin

56th percentile

8.4%

Higher net margin than 56% of similar nonprofits.

2016 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

97th percentile

$190,234

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 29.0% of source-year revenue.

2016 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2016

Asset Growth

15th percentile

-8.4%

Faster asset growth than 15% of similar nonprofits.

2016 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

80th percentile

22%

Faster revenue growth than 80% of similar nonprofits.

2016 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Assets

Down

$297,104

Down $27,098 (-8.4%) from 2015

Net Assets

Up

$191,854

Up $55,030 (+40%) from 2015

Liabilities

Down

$105,250

Down $82,128 (-44%) from 2015

Revenue

Up

$656,302

Up $117,417 (+22%) from 2015

Expenses

Up

$601,272

Up $79,470 (+15%) from 2015

Net Income

Up

$55,030

Up $37,947 (+222%) from 2015

Historical Trend

Balance Sheet Trend

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 2016: $297,104Liabilities 2016: $105,250Net Assets 2016: $191,8542016Assets 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

2016

Assets$297,104
Liabilities$105,250
Net Assets$191,854

Operations Trend

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 2016: $656,302Expenses 2016: $601,272Net Income 2016: $55,0302016Revenue 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

2016

Revenue$656,302
Expenses$601,272
Net Income$55,030
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 14, 2017
Return Version
2016v3.0
Gross Receipts
$656,302
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

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$275,277$147,986▼ $127,291
Cash and Non-Interest-Bearing Accounts$19,085$73,387▲ $54,302
Land, Buildings, and Equipment, Net$16,241$14,547▼ $1,694
Prepaid Expenses and Deferred Charges$4,749$7,109▲ $2,360
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$324,202$297,104▼ $27,098
Other Assets Total$7,850$53,075▲ $45,225
Liabilities
Deferred Revenue$186,640$63,530▼ $123,110
Accounts Payable and Accrued Expenses$738$41,720▲ $40,982
Total Liabilities$187,378$105,250▼ $82,128
Net Assets / Fund Balance
Unrestricted Net Assets$136,824$191,854▲ $55,030
Total Net Assets Fund Balance$136,824$191,854▲ $55,030
Total Liabilities and Net Assets / Fund Balance$324,202$297,104▼ $27,098

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$13,217$4,283$17,500
Other Land Buildings$1,330$14,200$15,530
Other Assets Org$53,075--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John LynchExecutive DirectorFT$163,480$26,754$190,234
Viktor M SchraderEcon Dev MgrFT$88,048$7,577$95,625
Clair MaloOffice MgrFT$58,587$11,554$70,141
Charliese AgnewMarketing MgrFT$32,706$2,139$34,845
Cameron GearenMarketing MgrFT$2,621-$2,621

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
$656,270
Program Service Revenue
$0
Investment Income
$32
Other Revenue
$0
Change in Net Assets
$55,030

Audited Revenue Reconciliation

Revenue per Audited Statements
$656,302
Revenue Not Reported on Form 990
$33,606
Total Revenue per Audited Statements
$689,908
Total Revenue per Form 990
$656,302
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$464,498
Other Expenses$136,774
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-$225,234-$225,234
Other Salaries and Wages-$187,789-$187,789
Fees for Services Other-$43,056-$43,056
Payroll Taxes-$28,180-$28,180
Other Employee Benefits-$17,534-$17,534
Advertising-$16,615-$16,615
Occupancy-$16,095-$16,095
Fees for Services Accounting-$11,799-$11,799
Office Expenses-$8,911-$8,911
Insurance-$8,550-$8,550
All Other Expenses-$7,257-$7,257
Pension Plan Contributions-$5,761-$5,761
Other Expenses-$3,709-$3,709
Depreciation Depletion-$1,694-$1,694
Total Functional Expenses$0$601,272$0$601,272

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$636,602
Expenses per Audited Statements$601,272
Total Expenses per Form 990$601,272
Expenses Not Reported on Form 990$35,330
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 director of OPEDC prior to filing.

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

COnflict of interest is reviewed annually. If projects arise during the year that create new conflicts, board members recuse themselves.

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
2017-11-14
Discuss with paid preparer
Yes

Organization Details

Formed
1974
Legal Domicile
Il
Voting Board Members
9
Independent Board Members
9
Employees
5
Volunteers
10

Preparer

Firm
Kenny & Kenny PC
Address
1400 West 47th Street Ste 4, La Grange, IL 60525-6148
Preparer
Timothy M Kenny
Phone
7083860600
Supplemental Narrative

Financial Statement Notes

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

Audit report error $3276

Part XII, Line 2D: Other expenses and losses per audited F/S

Audit report error $5000

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IRS990/IRPDocumentCnt04
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt018483
IRS990/LandBldgEquipBasisNetGrp/BOYAmt016241
IRS990/LandBldgEquipBasisNetGrp/EOYAmt014547
IRS990/LandBldgEquipCostOrOtherBssAmt033030
IRS990/LegalDomicileStateCd0IL
IRS990/LicensedMoreThanOneStateInd0false
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
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/NetAssetsOrFundBalancesBOYAmt0136824
IRS990/NetAssetsOrFundBalancesEOYAmt0191854
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt016095
IRS990/OccupancyGrp/TotalAmt016095
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt08911
IRS990/OfficeExpensesGrp/TotalAmt08911
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt07850
IRS990/OtherAssetsTotalGrp/EOYAmt053075
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt017534
IRS990/OtherEmployeeBenefitsGrp/TotalAmt017534
IRS990/OtherExpensesGrp/Desc0Workshop/conferences
IRS990/OtherExpensesGrp/Desc1Dues/subscriptions
IRS990/OtherExpensesGrp/Desc2Business Expenses
IRS990/OtherExpensesGrp/Desc3Telephone
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt010700
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt14199
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt24189
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt33709
IRS990/OtherExpensesGrp/TotalAmt010700
IRS990/OtherExpensesGrp/TotalAmt14199
IRS990/OtherExpensesGrp/TotalAmt24189
IRS990/OtherExpensesGrp/TotalAmt33709
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0187789
IRS990/OtherSalariesAndWagesGrp/TotalAmt0187789
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt028180
IRS990/PayrollTaxesGrp/TotalAmt028180
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt05761
IRS990/PensionPlanContributionsGrp/TotalAmt05761
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt04749
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt07109
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0538860
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt025
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0159559
IRS990/PYRevenuesLessExpensesAmt017083
IRS990/PYSalariesCompEmpBnftPaidAmt0362243
IRS990/PYTotalExpensesAmt0521802
IRS990/PYTotalRevenueAmt0538885
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt055030
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0true
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0275277
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0147986
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/DonatedServicesAndUseFcltsAmt030330
IRS990ScheduleD/DonatedServicesUseFcltsAmt030330
IRS990ScheduleD/ExpensesNotReportedAmt035330
IRS990ScheduleD/ExpensesSubtotalAmt0601272
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt013217
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt04283
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt017500
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt053075
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Due Form Subsidiary
IRS990ScheduleD/OtherExpensesIncludedAmt05000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01330
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt014200
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt015530
IRS990ScheduleD/OtherRevenueAmt03276
IRS990ScheduleD/RevenueNotReportedAmt033606
IRS990ScheduleD/RevenueSubtotalAmt0656302
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Audit report error $3276
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Audit report error $5000
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XI, Line 2d: Other revenue amounts included in F/S but not included on form 990
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XII, Line 2d: Other expenses and losses per audited F/S
IRS990ScheduleD/TotalBookValueLandBuildingsAmt014547
IRS990ScheduleD/TotalBookValueOtherAssetsAmt053075
IRS990ScheduleD/TotalExpensesPerForm990Amt0601272
IRS990ScheduleD/TotalRevenuePerForm990Amt0656302
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0689908
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0636602
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990ScheduleJ/RebuttablePresumptionProcInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0163480
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount05000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt010965
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt06289
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt04500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0John Lynch
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Executive Dir.
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0190234
IRS990ScheduleJ/SeverancePaymentInd0true
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Form 990 will be reviewed by the executive director of OPEDC prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COnflict of interest is reviewed annually. If projects arise during the year that create new conflicts, board members recuse themselves.
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

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