Civic Intelligence

Oak Park Economic Development Corp

990 • Fiscal year 2021 • EIN 36-2788088

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 11, 2022

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

0.36x

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

2021 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

64th percentile

0.15x

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

2021 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2021

Net Margin

29th percentile

0.0%

Higher net margin than 29% of similar nonprofits.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

98th percentile

$248,900

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 49.1% of source-year revenue.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2021

Asset Growth

13th percentile

-7.4%

Faster asset growth than 13% of similar nonprofits.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

27th percentile

-6.8%

Faster revenue growth than 27% of similar nonprofits.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Assets

Down

$212,467

Down $17,086 (-7.4%) from 2020

Net Assets

Flat

$136,802

Flat from 2020

Liabilities

Down

$75,665

Down $17,086 (-18%) from 2020

Revenue

Down

$506,895

Down $36,963 (-6.8%) from 2020

Expenses

Down

$506,895

Down $13,837 (-2.7%) from 2020

Net Income

Down

$0

Down $23,126 (-100%) from 2020

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

2021

Assets$212,467
Liabilities$75,665
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

2021

Revenue$506,895
Expenses$506,895
Net Income$0
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 11, 2022
Return Version
2021v4.1
Gross Receipts
$506,895
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$188,753$132,081▼ $56,672
Cash and Non-Interest-Bearing Accounts$24,109$64,445▲ $40,336
Land, Buildings, and Equipment, Net$10,059$9,178▼ $881
Prepaid Expenses and Deferred Charges$6,632$6,763▲ $131
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$229,553$212,467▼ $17,086
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$63,624$59,574▼ $4,050
Grants Payable$29,127$16,091▼ $13,036
Total Liabilities$92,751$75,665▼ $17,086
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$229,553$212,467▼ $17,086

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$9,178$8,322$17,500
Other Land Buildings-$15,530$15,530
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John LynchExecutive DirectorFT$185,000$63,900$248,900
Eric MazelisEcon Dev MgrFT$77,938$6,646$84,584
Allison MarolaOffice MgrFT$47,756$10,253$58,009

Board Members and Trustees

NameTitle
Cory WesleyChairman
Aaron JosephVice-Chairman
Bill RogallaDirector
Jackie BarlowDirector
Mike WarrenDirector
Anan Abu-TalebDirector at large
Cara PavlicekDirector at large
Lisa ShelleyDirector at Large
Susan BuchananDirector at Large
Vicki ScamanDirector at Large
David KennedySecretary
Sandeep SoodTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$506,881
Program Service Revenue
$0
Investment Income
$14
Other Revenue
$0
All Other Contributions
$1,472
Change in Net Assets
$0

Audited Revenue Reconciliation

Revenue per Audited Statements
$506,895
Revenue Not Reported on Form 990
$10,975
Total Revenue per Audited Statements
$517,870
Total Revenue per Form 990
$506,895
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$409,198
Other Expenses$97,697
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$220,478$24,498-$244,976
Other Salaries and Wages$113,830$12,646-$126,476
Payroll Taxes$20,120$2,236-$22,356
Occupancy$16,792$1,866-$18,658
Fees for Services Accounting$2,422$13,728-$16,150
Insurance$11,581$1,287-$12,868
Other Employee Benefits$9,002$1,001-$10,003
Pension Plan Contributions$4,848$539-$5,387
All Other Expenses$3,172$1,708-$4,880
Other Expenses$234$4,438-$4,672
Office Expenses-$4,560-$4,560
Fees for Services Other$517$2,925-$3,442
Advertising$2,500--$2,500
Depreciation Depletion-$880-$880
Total Functional Expenses$424,187$82,708$0$506,895

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$517,870
Expenses per Audited Statements$506,895
Total Expenses per Form 990$506,895
Expenses Not Reported on Form 990$10,975
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
Yes
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 4: Description of Significant Changes to Organizational Documents

The Bylaws were updated. See attached Third Amended & Restated By-Laws of the Oak Park Economic Development Corporation.

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
2022-11-11
Discuss with paid preparer
Yes

Organization Details

Formed
1974
Legal Domicile
Il
Voting Board Members
9
Independent Board Members
9
Employees
3
Volunteers
12

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/InsuranceGrp/ManagementAndGeneralAmt01287
IRS990/InsuranceGrp/ProgramServicesAmt011581
IRS990/InsuranceGrp/TotalAmt012868
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IRS990/InterestGrp/TotalAmt00
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IRS990/IRPDocumentW2GCnt00
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IRS990/LandBldgEquipCostOrOtherBssAmt033030
IRS990/LegalDomicileStateCd0IL
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0To 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
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0136802
IRS990/NetAssetsOrFundBalancesEOYAmt0136802
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IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0136802
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt01866
IRS990/OccupancyGrp/ProgramServicesAmt016792
IRS990/OccupancyGrp/TotalAmt018658
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt04560
IRS990/OfficeExpensesGrp/TotalAmt04560
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt01001
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt09002
IRS990/OtherEmployeeBenefitsGrp/TotalAmt010003
IRS990/OtherExpensesGrp/Desc0Dues/subscriptions
IRS990/OtherExpensesGrp/Desc1Workshop/conferences
IRS990/OtherExpensesGrp/Desc2Telephone
IRS990/OtherExpensesGrp/Desc3Auto/Parking Exp
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0835
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt18937
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2624
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt34438
IRS990/OtherExpensesGrp/ProgramServicesAmt013075
IRS990/OtherExpensesGrp/ProgramServicesAmt15616
IRS990/OtherExpensesGrp/ProgramServicesAmt2234
IRS990/OtherExpensesGrp/TotalAmt013910
IRS990/OtherExpensesGrp/TotalAmt18937
IRS990/OtherExpensesGrp/TotalAmt26240
IRS990/OtherExpensesGrp/TotalAmt34672
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt012646
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0113830
IRS990/OtherSalariesAndWagesGrp/TotalAmt0126476
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02236
IRS990/PayrollTaxesGrp/ProgramServicesAmt020120
IRS990/PayrollTaxesGrp/TotalAmt022356
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0539
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt04848
IRS990/PensionPlanContributionsGrp/TotalAmt05387
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt06763
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0543842
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt016
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt077132
IRS990/PYRevenuesLessExpensesAmt023126
IRS990/PYSalariesCompEmpBnftPaidAmt0443600
IRS990/PYTotalExpensesAmt0520732
IRS990/PYTotalRevenueAmt0543858
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt00
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
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IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0188753
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0132081
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990/ScheduleBRequiredInd0true
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IRS990ScheduleD/DonatedServicesUseFcltsAmt010975
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IRS990ScheduleD/ExpensesSubtotalAmt0506895
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt09178
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt08322
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt017500
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt015530
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt015530
IRS990ScheduleD/RevenueNotReportedAmt010975
IRS990ScheduleD/RevenueSubtotalAmt0506895
IRS990ScheduleD/TotalBookValueLandBuildingsAmt09178
IRS990ScheduleD/TotalExpensesPerForm990Amt0506895
IRS990ScheduleD/TotalRevenuePerForm990Amt0506895
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0517870
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0517870
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/DeferredCompensationFlngOrgAmt09400
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt04500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0John Lynch
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Executive Dir.
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0248900
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Bylaws were updated. See attached Third Amended & Restated By-Laws of the Oak Park Economic Development Corporation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The 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/ExplanationTxt2Conflict 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/ExplanationTxt3Compensation 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/ExplanationTxt4Compensation, 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, Line 4: Description of Significant Changes to Organizational Documents

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