Civic Intelligence

Oak Park Economic Development Corp

990 • Fiscal year 2020 • EIN 36-2788088

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

104 N Oak Park Avenue 203Oak Park, IL 60301

(708) 383-3838

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.40x

Higher debt load relative to assets than 83% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

64th percentile

0.17x

Higher debt load relative to revenue than 64% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Net Margin

42nd percentile

4.3%

Higher net margin than 42% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

98th percentile

$250,200

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 46.0% of source-year revenue.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Asset Growth

87th percentile

33%

Faster asset growth than 87% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

41st percentile

-5.2%

Faster revenue growth than 41% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Assets

Up

$229,553

Up $57,061 (+33%) from 2019

Net Assets

Up

$136,802

Up $23,126 (+20%) from 2019

Liabilities

Up

$92,751

Up $33,935 (+58%) from 2019

Revenue

Down

$543,858

Down $29,595 (-5.2%) from 2019

Expenses

Down

$520,732

Down $25,846 (-4.7%) from 2019

Net Income

Down

$23,126

Down $3,749 (-14%) from 2019

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 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

2020

Assets$229,553
Liabilities$92,751
Net Assets$136,802

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 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

2020

Revenue$543,858
Expenses$520,732
Net Income$23,126
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.0
Gross Receipts
$543,858
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$125,720$188,753▲ $63,033
Cash and Non-Interest-Bearing Accounts$29,039$24,109▼ $4,930
Land, Buildings, and Equipment, Net$11,046$10,059▼ $987
Prepaid Expenses and Deferred Charges$6,687$6,632▼ $55
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$172,492$229,553▲ $57,061
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$58,816$63,624▲ $4,808
Grants Payable-$29,127-
Total Liabilities$58,816$92,751▲ $33,935
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$113,676$136,802▲ $23,126
Total Net Assets Fund Balance$113,676$136,802▲ $23,126
Total Liabilities and Net Assets / Fund Balance$172,492$229,553▲ $57,061

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$9,986$7,514$17,500
Other Land Buildings$73$15,457$15,530
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John LynchExecutive DirectorFT$185,000$65,200$250,200
Viktor M SchraderEcon Dev DirectorFT$107,094$9,766$116,860
Allison MarolaOffice MgrFT$48,700$1,800$50,500

Board Members and Trustees

NameTitle
Jackie BarlowChairwoman
Cory WesleyVice-Chairman
Aaron JosephDirector at Large
Anan Abu-TalebDirector at large
Cara PavlicekDirector at large
David KennedyDirector at Large
Susan BuchananDirector at Large
Bill RogallaSecretary
Sandeep SoodTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$543,842
Program Service Revenue
$0
Investment Income
$16
Other Revenue
$0
All Other Contributions
$1,469
Change in Net Assets
$23,126

Audited Revenue Reconciliation

Revenue per Audited Statements
$543,858
Revenue Not Reported on Form 990
$23,635
Total Revenue per Audited Statements
$567,493
Total Revenue per Form 990
$543,858
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$443,600
Other Expenses$77,132
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$223,330$24,814-$248,144
Other Salaries and Wages$140,583$15,620-$156,203
Payroll Taxes$23,981$2,665-$26,646
Occupancy$16,303$1,812-$18,115
Fees for Services Accounting$2,093$11,857-$13,950
Insurance$8,846$983-$9,829
Other Employee Benefits$6,270$697-$6,967
Pension Plan Contributions$5,076$564-$5,640
Advertising$4,750--$4,750
Office Expenses-$2,894-$2,894
Other Expenses$159$2,052-$2,052
All Other Expenses$699$1,261-$1,960
Depreciation Depletion-$987-$987
Fees for Services Other$57$328-$385
Total Functional Expenses$449,793$70,939$0$520,732

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$544,367
Expenses per Audited Statements$520,732
Total Expenses per Form 990$520,732
Expenses Not Reported on Form 990$23,635
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 203, Oak Park, IL 60301

Signing Officer

Name
John Lynch
Title
Executive Director
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
1974
Legal Domicile
Il
Voting Board Members
9
Independent Board Members
9
Employees
3
Volunteers
9

Preparer

Firm
Kenny & Kenny PC
Address
1400 West 47th Street Ste 4, La Grange, IL 60525
Preparer
Timothy M Kenny
Phone
7083860600
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IRS990/NetAssetsOrFundBalancesEOYAmt0136802
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0113676
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0136802
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt01812
IRS990/OccupancyGrp/ProgramServicesAmt016303
IRS990/OccupancyGrp/TotalAmt018115
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt02894
IRS990/OfficeExpensesGrp/TotalAmt02894
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0697
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt06270
IRS990/OtherEmployeeBenefitsGrp/TotalAmt06967
IRS990/OtherExpensesGrp/Desc0Dues/subscriptions
IRS990/OtherExpensesGrp/Desc1Telephone
IRS990/OtherExpensesGrp/Desc2Auto/Parking Exp
IRS990/OtherExpensesGrp/Desc3Software subscriptions
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0790
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1588
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt23027
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt32052
IRS990/OtherExpensesGrp/ProgramServicesAmt012357
IRS990/OtherExpensesGrp/ProgramServicesAmt15289
IRS990/OtherExpensesGrp/ProgramServicesAmt2159
IRS990/OtherExpensesGrp/TotalAmt013147
IRS990/OtherExpensesGrp/TotalAmt15877
IRS990/OtherExpensesGrp/TotalAmt23186
IRS990/OtherExpensesGrp/TotalAmt32052
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt015620
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0140583
IRS990/OtherSalariesAndWagesGrp/TotalAmt0156203
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02665
IRS990/PayrollTaxesGrp/ProgramServicesAmt023981
IRS990/PayrollTaxesGrp/TotalAmt026646
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0564
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt05076
IRS990/PensionPlanContributionsGrp/TotalAmt05640
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt06687
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt06632
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0572898
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt011
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt091196
IRS990/PYOtherRevenueAmt0544
IRS990/PYRevenuesLessExpensesAmt026875
IRS990/PYSalariesCompEmpBnftPaidAmt0455382
IRS990/PYTotalExpensesAmt0546578
IRS990/PYTotalRevenueAmt0573453
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt023126
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0125720
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0188753
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/DonatedServicesAndUseFcltsAmt023635
IRS990ScheduleD/DonatedServicesUseFcltsAmt023635
IRS990ScheduleD/ExpensesNotReportedAmt023635
IRS990ScheduleD/ExpensesSubtotalAmt0520732
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt09986
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt07514
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt017500
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt073
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt015457
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt015530
IRS990ScheduleD/RevenueNotReportedAmt023635
IRS990ScheduleD/RevenueSubtotalAmt0543858
IRS990ScheduleD/TotalBookValueLandBuildingsAmt010059
IRS990ScheduleD/TotalExpensesPerForm990Amt0520732
IRS990ScheduleD/TotalRevenuePerForm990Amt0543858
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0567493
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0544367
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/Form990OfOtherOrganizationsInd0X
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0185000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount050000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt011900
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt03300
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0John Lynch
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Executive Dir.
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0250200
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0172492
IRS990/TotalAssetsEOYAmt0229553
IRS990/TotalAssetsGrp/BOYAmt0172492
IRS990/TotalAssetsGrp/EOYAmt0229553
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt0543842
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt070939
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0449793
IRS990/TotalFunctionalExpensesGrp/TotalAmt0520732

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