Civic Intelligence

Rockford Local Development Corporation

990 • Fiscal year 2022 • EIN 36-3038678

Oct 01, 2021 to Sep 30, 2022 • Filed on Feb 08, 2023

Organization ProfileN/A

View Organization Page

120 West State StreetRockford, IL 61101-1437

(815) 987-8675

Siviq Scores

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

Liabilities / Assets

45th percentile

0.13x

Higher debt load relative to assets than 45% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

57th percentile

0.24x

Higher debt load relative to revenue than 57% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Net Margin

95th percentile

42%

Higher net margin than 95% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

79th percentile

$236,007

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 15.7% of source-year revenue.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Asset Growth

91st percentile

44%

Faster asset growth than 91% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

65th percentile

18%

Faster revenue growth than 65% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets45th percentile

Assets

Up

$2,794,433

Up $848,037 (+44%) from 2021

Net Assets

Up

$2,431,116

Up $629,254 (+35%) from 2021

Liabilities

Up

$363,317

Up $218,783 (+151%) from 2021

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin95th percentile

Revenue

Up

$1,498,474

Up $229,622 (+18%) from 2021

Expenses

Up

$869,220

Up $71,641 (+9.0%) from 2021

Net Income

Up

$629,254

Up $157,981 (+34%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

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

$6.0M$4.0M$2.0M$0Assets 2020: $1,534,022Liabilities 2020: $203,433Net Assets 2020: $1,330,5892020Assets 2021: $1,946,396Liabilities 2021: $144,534Net Assets 2021: $1,801,8622021Assets 2022: $2,794,433Liabilities 2022: $363,317Net Assets 2022: $2,431,1162022Assets 2023: $3,867,454Liabilities 2023: $646,560Net Assets 2023: $3,220,8942023Assets 2024: $4,737,897Liabilities 2024: $1,537,297Net Assets 2024: $3,200,6002024Assets 2025: $5,225,946Liabilities 2025: $2,165,779Net Assets 2025: $3,060,1672025

Highlighted filing

2022

Assets$2,794,433
Liabilities$363,317
Net Assets$2,431,116
Open 2022 Filing

Operations Trend

Revenue Growth65th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2020: $954,486Expenses 2020: $835,195Net Income 2020: $119,2912020Revenue 2021: $1,268,852Expenses 2021: $797,579Net Income 2021: $471,2732021Revenue 2022: $1,498,474Expenses 2022: $869,220Net Income 2022: $629,2542022Revenue 2023: $1,914,300Expenses 2023: $1,124,522Net Income 2023: $789,7782023Revenue 2024: $1,052,933Expenses 2024: $1,073,227Net Income 2024: -$20,2942024Revenue 2025: $1,114,739Expenses 2025: $1,255,172Net Income 2025: -$140,4332025

Highlighted filing

2022

Revenue$1,498,474
Expenses$869,220
Net Income$629,254
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Feb 8, 2023
Return Version
2021v4.0
Gross Receipts
$1,498,474
Mission and Program Overview

Mission

To advance the commercial, industrial and general welfare of the city of rockford, illinois and northern illinois and to assist in developing and implementing strategies to stimulate business development

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$1,506,362$2,593,887▲ $1,087,525
Savings and Temporary Cash Investments$382,094$165,178▼ $216,916
Prepaid Expenses and Deferred Charges$30,007$17,566▼ $12,441
Land, Buildings, and Equipment, Net$11,242$4,326▼ $6,916
Cash and Non-Interest-Bearing Accounts$100$100→ $0
Total Assets$1,946,396$2,794,433▲ $848,037
Other Assets Total$16,591$13,376▼ $3,215
Liabilities
Mortgage Notes Payable Secured by Investment Property-$225,000-
Deferred Revenue$86,116$84,257▼ $1,859
Accounts Payable and Accrued Expenses$58,418$54,060▼ $4,358
Total Liabilities$144,534$363,317▲ $218,783
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,801,862$2,431,116▲ $629,254
Total Net Assets Fund Balance$1,801,862$2,431,116▲ $629,254
Total Liabilities and Net Assets / Fund Balance$1,946,396$2,794,433▲ $848,037

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$29,782-
Equipment$4,326$75,956-
Compensation and Service Providers
Top Officer Pay79th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
John PhelpsExecutive DiFT$182,117$53,890$236,007
John PhelpsExecutive Director-$160,953$75,054$236,007

Board Members and Trustees

NameTitle
Linda HeckertChair
Brian PetersonPast Chairma
Ed MunguiaVice Chair
Audra MoncurDirector
Brenten WitherbyDirector
Donald BanksDirector
Earl Dotson JrDirector
Janessa WilkinsDirector
Jeff FahrenwaldDirector
Karen WalshDirector
Kent KohlbacherDirector
Michele PetrieDirector
Todd CagnoniDirector
Karl SwansonAssistant Tr
J DANIEL O'BOYLESecretary
James RyanSecretary
Michael SchultzTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$690,600
Program Service Revenue
$806,015
Investment Income
$1,859
Other Revenue
$0
Change in Net Assets
$629,254
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$620,354
Other Expenses$248,866
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$287,999
Current Officers, Directors, Trustees, and Key Employees---$238,480
Occupancy---$65,710
Other Employee Benefits---$46,348
Payroll Taxes---$35,476
Office Expenses---$31,363
Fees for Services Accounting---$18,725
Insurance---$17,611
Fees for Services Other---$13,332
Pension Plan Contributions---$12,051
Conferences and Meetings---$11,393
Depreciation Depletion---$6,916
Other Expenses---$4,622
All Other Expenses---$4,270
Interest---$1,133
Advertising---$1,013
Total Functional Expenses$0$0$0$869,220
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
No
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, Page 6, Part VI, Line 6

“As stated in the organization's bylaws - the corporation shall have as its members a self-perpetuating group consisting of at least 25 persons to be known as members chosen and selected in accordance with the by-laws. The membership of the corporation shall be representative of the community and include at least one representative from each of the following groups: local government; the private sector; lending institutions; community organizations; and, business organizations.”

Form 990, Page 6, Part VI, Line 7A

“As stated in the organization's bylaws, each member shall be entitled to cast one vote at any election of directors of the corporation. Members shall have no other voting rights and there shall be no cumulative voting rights.”

Form 990, Page 6, Part VI, Line 11B

“The executive committee is provided a copy of the tax return to review and approve before submitting to the irs.”

Form 990, Page 6, Part VI, Line 12C

“If a matter comes before the board of directors or any committee, the conflict is disclosed and the director(s) or member(s) abstains from voting.”

Form 990, Page 6, Part VI, Line 15A

“The executive committee meets annually to review the past year's performance and determine the compensation of the executive director. This committee consists of bankers and other business professionals from the community who are acutely aware of current market conditions. In addition, the national association of development companies (nadco) conducts a bi- annual compensation survey that the committee uses as a source of comparable data.”

Form 990, Page 6, Part VI, Line 19

“The governing documents, financial statements and tax returns are available to the general public upon request at the organization's office during normal business hours. The federal tax return is available on the guidestar website.”

Filing and Contact Details

Filer

Filer Name
Rockford Local Development
EIN
36-3038678
Phone
8159878675
Address
120 WEST STATE STREET, ROCKFORD, IL 61101-1437

Signing Officer

Name
John Phelps
Title
Executive Director
Phone
8159878675
Signed
2023-02-08

Organization Details

Principal Officer
John Phelps
Formed
1979
Legal Domicile
Il
Voting Board Members
18
Independent Board Members
17
Employees
8

Preparer

Firm
Benning Group LLC
Address
6815 WEAVER RD STE 300, ROCKFORD, IL 61114-8060
Preparer
Jakob J Thompson
Phone
8153162375
Raw XML AppendixShowing 400 of 489 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd0false
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt058418
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt054060
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0TO ADVANCE THE COMMERCIAL, INDUSTRIAL AND GENERAL WELFARE OF THE CITY OF ROCKFORD, ILLINOIS AND NORTHERN ILLINOIS AND TO ASSIST IN DEVELOPING AND IMPLEMENTING STRATEGIES TO STIMULATE BUSINESS DEVELOPMENT
IRS990/AdvertisingGrp/TotalAmt01013
IRS990/AllOtherExpensesGrp/TotalAmt04270
IRS990/AnnualDisclosureCoveredPrsnInd0true
IRS990/AuditCommitteeInd0true
IRS990/BackupWthldComplianceInd0false
IRS990/BooksInCareOfDetail/PersonNm0JOHN PHELPS
IRS990/BooksInCareOfDetail/PhoneNum08159878675
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0120 WEST STATE STREET
IRS990/BooksInCareOfDetail/USAddress/CityNm0ROCKFORD
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0IL
IRS990/BooksInCareOfDetail/USAddress/ZIPCd0611011437
IRS990/BusinessRlnWith35CtrlEntInd0false
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CashNonInterestBearingGrp/BOYAmt0100
IRS990/CashNonInterestBearingGrp/EOYAmt0100
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CollectionsOfArtInd0false
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0238480
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0true
IRS990/CompensationProcessOtherInd0false
IRS990/ConferencesMeetingsGrp/TotalAmt011393
IRS990/ConflictOfInterestPolicyInd0true
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0true
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0690600
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt01859
IRS990/CYOtherExpensesAmt0248866
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt0806015
IRS990/CYRevenuesLessExpensesAmt0629254
IRS990/CYSalariesCompEmpBnftPaidAmt0620354
IRS990/CYTotalExpensesAmt0869220
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt01498474
IRS990/DecisionsSubjectToApprovaInd0false
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DeferredRevenueGrp/BOYAmt086116
IRS990/DeferredRevenueGrp/EOYAmt084257
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/DepreciationDepletionGrp/TotalAmt06916
IRS990/Desc0SBA 504 LOAN PROGRAM: ROCKFORD LOCAL DEVELOPMENT CORPORATION IS A CERTIFIED DEVELOPMENT COMPANY (CDC) UNDER THE U.S. SMALL BUSINESS ADMINISTRATION'S SBA 504 PROGRAM. ROCKFORD LOCAL DEVELOPMENT CORPORATION SERVES THE STATE OF ILLINOIS. CERTIFICATION THROUGH SBA FOR THIS PROGRAM REQUIRES THAT THE CDC BE A NOT-FOR-PROFIT ORGANIZATION. SBA 504 PROVIDES LONG TERM, FIXED RATE, SUBORDINATED DEBT TO ELIGIBLE SMALL BUSINESSES. THE ROCKFORD LOCAL DEVELOPMENT CORPORATION CURRENTLY MANAGES A 58.9 MILLION PORTFOLIO OF LOANS TO 152 BUSINESSES. IN FY 2022, ROCKFORD LOCAL DEVELOPMENT CORPORATION CLOSED 15 SBA 504 LOANS IN THE AMOUNT OF 10,016,000 AND APPROVED 10 NEW SBA 504 LOANS FOR AN ADDITIONAL 13,707,000.
IRS990/DescribedInSection501c3Ind0false
IRS990/DisregardedEntityInd0true
IRS990/DocumentRetentionPolicyInd0true
IRS990/DonorAdvisedFundInd0false
IRS990/DonorRstrOrQuasiEndowmentsInd0false
IRS990/ElectionOfBoardMembersInd0true
IRS990/EmployeeCnt08
IRS990/EmploymentTaxReturnsFiledInd0true
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FederalGrantAuditRequiredInd0false
IRS990/FeesForServicesAccountingGrp/TotalAmt018725
IRS990/FeesForServicesOtherGrp/TotalAmt013332
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignOfficeInd0false
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt00.25
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt10.25
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt20.25
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt30.75
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt40.25
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt56.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt51.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt61.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt71.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt81.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt91.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt101.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt111.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt121.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt131.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt141.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt151.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt161.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1735.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd9X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd10X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd11X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd12X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd13X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd14X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd15X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd16X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd17X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OfficerInd5X
IRS990/Form990PartVIISectionAGrp/OfficerInd6X
IRS990/Form990PartVIISectionAGrp/OfficerInd7X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt130
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt140
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt150
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt160
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1753890
IRS990/Form990PartVIISectionAGrp/PersonNm0DONALD BANKS
IRS990/Form990PartVIISectionAGrp/PersonNm1AUDRA MONCUR
IRS990/Form990PartVIISectionAGrp/PersonNm2KARL SWANSON
IRS990/Form990PartVIISectionAGrp/PersonNm3TODD CAGNONI
IRS990/Form990PartVIISectionAGrp/PersonNm4JEFF FAHRENWALD
IRS990/Form990PartVIISectionAGrp/PersonNm5ED MUNGUIA
IRS990/Form990PartVIISectionAGrp/PersonNm6J DANIEL O'BOYLE
IRS990/Form990PartVIISectionAGrp/PersonNm7MICHAEL SCHULTZ
IRS990/Form990PartVIISectionAGrp/PersonNm8MICHELE PETRIE
IRS990/Form990PartVIISectionAGrp/PersonNm9BRIAN PETERSON
IRS990/Form990PartVIISectionAGrp/PersonNm10BRENTEN WITHERBY
IRS990/Form990PartVIISectionAGrp/PersonNm11KENT KOHLBACHER
IRS990/Form990PartVIISectionAGrp/PersonNm12JAMES RYAN
IRS990/Form990PartVIISectionAGrp/PersonNm13LINDA HECKERT
IRS990/Form990PartVIISectionAGrp/PersonNm14EARL DOTSON JR
IRS990/Form990PartVIISectionAGrp/PersonNm15KAREN WALSH
IRS990/Form990PartVIISectionAGrp/PersonNm16JANESSA WILKINS
IRS990/Form990PartVIISectionAGrp/PersonNm17JOHN PHELPS
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt17182117
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2ASSISTANT TR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt6SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt7TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9PAST CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt13CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17EXECUTIVE DI
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr01979
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GainOrLossGrp/OtherAmt01859
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt018
IRS990/GovernmentGrantsAmt0690600
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossAmountSalesAssetsGrp/OtherAmt01859
IRS990/GrossReceiptsAmt01498474
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt017
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/TotalAmt017611
IRS990/InterestGrp/TotalAmt01133
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt015
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0105738
IRS990/LandBldgEquipBasisNetGrp/BOYAmt011242
IRS990/LandBldgEquipBasisNetGrp/EOYAmt04326
IRS990/LandBldgEquipCostOrOtherBssAmt0110064
IRS990/LegalDomicileStateCd0IL
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO ADVANCE THE COMMERCIAL, INDUSTRIAL AND GENERAL WELFARE OF THE CITY OF ROCKFORD, ILLINOIS AND NORTHERN ILLINOIS AND TO ASSIST IN DEVELOPING AND IMPLEMENTING STRATEGIES TO STIMULATE BUSINESS DEVELOPMENT
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0225000
IRS990/NetAssetsOrFundBalancesBOYAmt01801862
IRS990/NetAssetsOrFundBalancesEOYAmt02431116
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt01859
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt01859
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt01801862
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt02431116
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt065710
IRS990/OfficeExpensesGrp/TotalAmt031363
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt016591
IRS990/OtherAssetsTotalGrp/EOYAmt013376
IRS990/OtherEmployeeBenefitsGrp/TotalAmt046348
IRS990/OtherExpensesGrp/Desc0BAD DEBT EXPENSE
IRS990/OtherExpensesGrp/Desc1DUES/SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc2LOAN SVC FEES
IRS990/OtherExpensesGrp/TotalAmt065717
IRS990/OtherExpensesGrp/TotalAmt17061
IRS990/OtherExpensesGrp/TotalAmt24622
IRS990/OtherSalariesAndWagesGrp/TotalAmt0287999
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt01506362
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt02593887
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/TotalAmt035476
IRS990/PensionPlanContributionsGrp/TotalAmt012051
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt030007
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt017566
IRS990/PrincipalOfficerNm0JOHN PHELPS
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0525990
IRS990/ProgramServiceRevenueGrp/BusinessCd1525990
IRS990/ProgramServiceRevenueGrp/BusinessCd2551114
IRS990/ProgramServiceRevenueGrp/BusinessCd3551114
IRS990/ProgramServiceRevenueGrp/BusinessCd4525990
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM RELATED LOAN FEES
IRS990/ProgramServiceRevenueGrp/Desc1PROGRAM RELATED INTEREST
IRS990/ProgramServiceRevenueGrp/Desc2MANAGEMENT FEES
IRS990/ProgramServiceRevenueGrp/Desc3SERVICE CONTRACTS
IRS990/ProgramServiceRevenueGrp/Desc4LOAN DOCUMENTATION FEE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0464558
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1112353
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2109317
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3102776
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt417011
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0464558
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1112353
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2109317
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3102776
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt417011
IRS990/ProgSrvcAccomActy2Grp/Desc0RLF PROGRAM: ROCKFORD LOCAL DEVELOPMENT CORPORATION ALSO MANAGES SIX REVOLVING LOAN PROGRAMS SERVING THREE COUNTIES IN NORTHERN ILLINOIS (STEPHENSON, WINNEBAGO AND BOONE). TOTALING 5,420,581, THESE LOAN FUNDS ARE TARGETED TO SERVE LOW-INCOME COMMUNITIES, DISADVANTAGED BUSINESSES AND MANUFACTURING EMPLOYMENT. PRESENTLY, THERE ARE APPROXIMATELY 121 LOANS OUTSTANDING TO SMALL BUSINESSES. IN FY 2022, ROCKFORD LOCAL DEVELOPMENT CORPORATION, THROUGH ITS MANAGEMENT OF THESE SIX REVOLVING LOAN PROGRAMS, CLOSED 41 LOANS FOR ELIGIBLE PROJECTS TOTALING 2,326,050.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0517000
IRS990/PYInvestmentIncomeAmt01751
IRS990/PYOtherExpensesAmt0198424
IRS990/PYOtherRevenueAmt0647
IRS990/PYProgramServiceRevenueAmt0749454
IRS990/PYRevenuesLessExpensesAmt0471273
IRS990/PYSalariesCompEmpBnftPaidAmt0599155
IRS990/PYTotalExpensesAmt0797579
IRS990/PYTotalRevenueAmt01268852
IRS990/ReconcilationRevenueExpnssAmt0629254
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0true
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0382094
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0165178
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt04326
IRS990ScheduleD/EquipmentGrp/DepreciationAmt075956
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt080282
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt029782
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt029782
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04326
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0160953
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount021164
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt053890
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOHN PHELPS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0236007
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AS STATED IN THE ORGANIZATION'S BYLAWS - THE CORPORATION SHALL HAVE AS ITS MEMBERS A SELF-PERPETUATING GROUP CONSISTING OF AT LEAST 25 PERSONS TO BE KNOWN AS MEMBERS CHOSEN AND SELECTED IN ACCORDANCE WITH THE BY-LAWS. THE MEMBERSHIP OF THE CORPORATION SHALL BE REPRESENTATIVE OF THE COMMUNITY AND INCLUDE AT LEAST ONE REPRESENTATIVE FROM EACH OF THE FOLLOWING GROUPS: LOCAL GOVERNMENT; THE PRIVATE SECTOR; LENDING INSTITUTIONS; COMMUNITY ORGANIZATIONS; AND, BUSINESS ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AS STATED IN THE ORGANIZATION'S BYLAWS, EACH MEMBER SHALL BE ENTITLED TO CAST ONE VOTE AT ANY ELECTION OF DIRECTORS OF THE CORPORATION. MEMBERS SHALL HAVE NO OTHER VOTING RIGHTS AND THERE SHALL BE NO CUMULATIVE VOTING RIGHTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE COMMITTEE IS PROVIDED A COPY OF THE TAX RETURN TO REVIEW AND APPROVE BEFORE SUBMITTING TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3IF A MATTER COMES BEFORE THE BOARD OF DIRECTORS OR ANY COMMITTEE, THE CONFLICT IS DISCLOSED AND THE DIRECTOR(S) OR MEMBER(S) ABSTAINS FROM VOTING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE EXECUTIVE COMMITTEE MEETS ANNUALLY TO REVIEW THE PAST YEAR'S PERFORMANCE AND DETERMINE THE COMPENSATION OF THE EXECUTIVE DIRECTOR. THIS COMMITTEE CONSISTS OF BANKERS AND OTHER BUSINESS PROFESSIONALS FROM THE COMMUNITY WHO ARE ACUTELY AWARE OF CURRENT MARKET CONDITIONS. IN ADDITION, THE NATIONAL ASSOCIATION OF DEVELOPMENT COMPANIES (NADCO) CONDUCTS A BI- ANNUAL COMPENSATION SURVEY THAT THE COMMITTEE USES AS A SOURCE OF COMPARABLE DATA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND TAX RETURNS ARE AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST AT THE ORGANIZATION'S OFFICE DURING NORMAL BUSINESS HOURS. THE FEDERAL TAX RETURN IS AVAILABLE ON THE GUIDESTAR WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0RLDC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0KEITH CREEK DEVELOPMENT LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0IL
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0FLOOD PREV
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt0120 WEST STATE STREET
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0ROCKFORD
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0IL
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd061101
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0true
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd1false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0RLDC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0SOUTH MAIN SHOPPING CENTER
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1ROCKFORD COMMUNITY INVESTMENT FUND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0020552826
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1874616912
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0IL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1IL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0ECO DEV
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1ECO DEV
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0120 WEST STATE STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1120 WEST STATE STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0ROCKFORD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1ROCKFORD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0IL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1IL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd061101
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd161101
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0true
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0true
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,794,433
Liabilities
$363,317
Net assets
$2,431,116
Revenue
$1,498,474
Expenses
$869,220
Net income
$629,254
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$5.23$2.17$3.06$1.11$1.26$0.14
2024Detailed filing. Detailed filing data is available for this year.$4.74$1.54$3.20$1.05$1.07$0.02
2023Detailed filing. Detailed filing data is available for this year.$3.87$0.65$3.22$1.91$1.12$0.79
2022Detailed filing. Detailed filing data is available for this year.$2.79$0.36$2.43$1.50$0.87$0.63
2021Detailed filing. Detailed filing data is available for this year.$1.95$0.14$1.80$1.27$0.80$0.47
2020Detailed filing. Detailed filing data is available for this year.$1.53$0.20$1.33$0.95$0.84$0.12