Civic Intelligence

Oak Park Economic Development Corp

990 • Fiscal year 2019 • EIN 36-2788088

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 16, 2020

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

80th percentile

0.34x

Higher debt load relative to assets than 80% of similar nonprofits.

2019 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

58th percentile

0.10x

Higher debt load relative to revenue than 58% of similar nonprofits.

2019 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2019

Net Margin

46th percentile

4.7%

Higher net margin than 46% of similar nonprofits.

2019 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

98th percentile

$245,796

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 42.9% of source-year revenue.

2019 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2019

Asset Growth

83rd percentile

20%

Faster asset growth than 83% of similar nonprofits.

2019 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

17th percentile

-15%

Faster revenue growth than 17% of similar nonprofits.

2019 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets80th percentile

Assets

Up

$172,492

Up $28,982 (+20%) from 2018

Net Assets

Up

$113,676

Up $26,875 (+31%) from 2018

Liabilities

Up

$58,816

Up $2,107 (+3.7%) from 2018

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin46th percentile

Revenue

Down

$573,453

Down $102,620 (-15%) from 2018

Expenses

Down

$546,578

Down $234,548 (-30%) from 2018

Net Income

Up

$26,875

Up $131,928 (+126%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth83rd percentile

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

2019

Assets$172,492
Liabilities$58,816
Net Assets$113,676
Open 2019 Filing

Operations Trend

Revenue Growth17th percentile

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

2019

Revenue$573,453
Expenses$546,578
Net Income$26,875
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 16, 2020
Return Version
2019v5.0
Gross Receipts
$573,453
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 attract and promote investment and development in Oak Park with the objectives of:-Expanding the 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$83,886$125,720▲ $41,834
Cash and Non-Interest-Bearing Accounts$39,577$29,039▼ $10,538
Land, Buildings, and Equipment, Net$12,072$11,046▼ $1,026
Prepaid Expenses and Deferred Charges$7,975$6,687▼ $1,288
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-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$143,510$172,492▲ $28,982
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$56,709$58,816▲ $2,107
Total Liabilities$56,709$58,816▲ $2,107
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$86,801$113,676▲ $26,875
Total Net Assets Fund Balance$86,801$113,676▲ $26,875
Total Liabilities and Net Assets / Fund Balance$143,510$172,492▲ $28,982

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$10,794$6,706$17,500
Other Land Buildings$252$15,278$15,530
Compensation and Service Providers
Top Officer Pay98th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
John LynchExecutive DirectorFT$178,328$67,468$245,796
Viktor M SchraderEcon Dev DirectorFT$98,536$9,946$108,482
Allison MarolaOffice MgrFT$46,700$1,820$48,520
Cameron GearenMarketing MgrFT$18,548$2,810$21,358

Board Members and Trustees

NameTitle
Thomas GallagherChairman
Frank PellegriniVice Chairman
Cory WesleyDirector
Jackie BarlowDirector
Anan Abu-TalebDirector at large
Cara PavlicekDirector at large
Susan BuchananDirector at Large
Bill RogallaSecretary
Mary LudginTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$572,898
Program Service Revenue
$0
Investment Income
$11
Other Revenue
$544
All Other Contributions
$1,398
Change in Net Assets
$26,875

Audited Revenue Reconciliation

Revenue per Audited Statements
$573,453
Revenue Not Reported on Form 990
$20,413
Total Revenue per Audited Statements
$593,866
Total Revenue per Form 990
$573,453
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$455,382
Other Expenses$91,196
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$222,786$24,754-$247,540
Other Salaries and Wages$147,832$16,426-$164,258
Payroll Taxes$25,024$2,781-$27,805
Occupancy$15,828$1,759-$17,587
Fees for Services Accounting$1,546$8,760-$10,306
Insurance$8,707$968-$9,675
Other Employee Benefits$8,276$920-$9,196
Pension Plan Contributions$5,925$658-$6,583
All Other Expenses$2,799$2,851-$5,650
Advertising$5,450--$5,450
Other Expenses$237$4,494-$4,731
Fees for Services Other$566$3,209-$3,775
Office Expenses-$3,648-$3,648
Fees for Services Legal$158$898-$1,056
Depreciation Depletion-$1,026-$1,026
Total Functional Expenses$470,688$75,890$0$546,578

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$566,991
Expenses per Audited Statements$546,578
Total Expenses per Form 990$546,578
Expenses Not Reported on Form 990$20,413
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
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
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
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, Line 11B: Form 990 Review Process

“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, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

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

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

“Compensation for the Executive Director is reviewed and determined by the Executive Members (all board members) of the OPEDC Board after the first of the year.”

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
2020-11-16
Discuss with paid preparer
Yes

Organization Details

Formed
1974
Legal Domicile
Il
Voting Board Members
9
Independent Board Members
9
Employees
4
Volunteers
11

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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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0John Lynch
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Executive Dir.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The 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/ExplanationTxt1Conflict of interest is reviewed and signed annually by all officers and directors. If projects arise during the year that create new conflicts, board members recuse themselves. New members are required to sign a conflict of interest immediately.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Compensation for the Executive Director is reviewed and determined by the Executive Members (all board members) of the OPEDC Board after the first of the year.
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
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$172,492
Liabilities
$58,816
Net assets
$113,676
Revenue
$573,453
Expenses
$546,578
Net income
$26,875
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
2019Detailed filing. Detailed filing data is available for this year.$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
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.24$1.87$1.37$5.39$5.22$0.17