Civic Intelligence

Rockford Local Development Corporation

990 • Fiscal year 2023 • EIN 36-3038678

Oct 01, 2022 to Sep 30, 2023 • Filed on Mar 26, 2024

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

52nd percentile

0.17x

Higher debt load relative to assets than 52% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

69th percentile

0.34x

Higher debt load relative to revenue than 69% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Net Margin

95th percentile

41%

Higher net margin than 95% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

78th percentile

$232,488

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 12.1% of source-year revenue.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Asset Growth

91st percentile

38%

Faster asset growth than 91% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

81st percentile

28%

Faster revenue growth than 81% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Up

$3,867,454

Up $1,073,021 (+38%) from 2022

Net Assets

Up

$3,220,894

Up $789,778 (+32%) from 2022

Liabilities

Up

$646,560

Up $283,243 (+78%) from 2022

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin95th percentile

Revenue

Up

$1,914,300

Up $415,826 (+28%) from 2022

Expenses

Up

$1,124,522

Up $255,302 (+29%) from 2022

Net Income

Up

$789,778

Up $160,524 (+26%) from 2022

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

2023

Assets$3,867,454
Liabilities$646,560
Net Assets$3,220,894
Open 2023 Filing

Operations Trend

Revenue Growth81st 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

2023

Revenue$1,914,300
Expenses$1,124,522
Net Income$789,778
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Mar 26, 2024
Return Version
2022v5.0
Gross Receipts
$1,914,300
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$2,593,887$3,486,109▲ $892,222
Savings and Temporary Cash Investments$165,178$248,456▲ $83,278
Intangible Assets-$53,943-
Land, Buildings, and Equipment, Net$4,326$26,836▲ $22,510
Prepaid Expenses and Deferred Charges$17,566$15,164▼ $2,402
Cash and Non-Interest-Bearing Accounts$100$100→ $0
Total Assets$2,794,433$3,867,454▲ $1,073,021
Other Assets Total$13,376$36,846▲ $23,470
Liabilities
Mortgage Notes Payable Secured by Investment Property$225,000$419,218▲ $194,218
Deferred Revenue$84,257$87,033▲ $2,776
Other Liabilities-$78,943-
Accounts Payable and Accrued Expenses$54,060$61,366▲ $7,306
Total Liabilities$363,317$646,560▲ $283,243
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$2,302,152-
Net Assets Without Donor Restrictions$2,431,116$918,742▼ $1,512,374
Total Net Assets Fund Balance$2,431,116$3,220,894▲ $789,778
Total Liabilities and Net Assets / Fund Balance$2,794,433$3,867,454▲ $1,073,021

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$29,782-
Equipment$26,836$81,222-

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$622,004$45,000▲ $30,933$128,000$546,556
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
John PhelpsExecutive DiFT$180,962$51,526$232,488
John PhelpsExecutive Director-$180,962$51,526$232,488

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$1,042,400
Program Service Revenue
$869,926
Investment Income
$1,974
Other Revenue
$0
Change in Net Assets
$789,778
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$636,277
Other Expenses$488,245
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$306,790
Current Officers, Directors, Trustees, and Key Employees---$231,658
Occupancy---$64,076
Other Employee Benefits---$47,134
Office Expenses---$42,832
Conferences and Meetings---$38,759
Payroll Taxes---$37,280
Interest---$25,491
Fees for Services Accounting---$19,750
Insurance---$17,018
Pension Plan Contributions---$13,415
Other Expenses---$7,670
Depreciation Depletion---$5,266
All Other Expenses---$2,896
Advertising---$1,150
Fees for Services Other---$25
Total Functional Expenses$0$0$0$1,124,522
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$53,943
Due to Nicdc$25,000
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
2024-03-26

Organization Details

Principal Officer
John Phelps
Formed
1979
Legal Domicile
Il
Voting Board Members
18
Independent Board Members
17
Employees
9
Volunteers
17

Preparer

Firm
Benning Group LLC
Address
6815 WEAVER RD STE 300, ROCKFORD, IL 61114-8060
Preparer
Jakob J Thompson
Phone
8153162375
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“The board of directors has designated 546,556 as of september 2023, to be expended only for certain programs as specified by the government grantor agencies.”

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IRS990/FundraisingActivitiesInd0false
IRS990/GainOrLossGrp/OtherAmt01974
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt018
IRS990/GovernmentGrantsAmt01042400
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossAmountSalesAssetsGrp/OtherAmt01974
IRS990/GrossReceiptsAmt01914300
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt017
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/TotalAmt017018
IRS990/IntangibleAssetsGrp/EOYAmt053943
IRS990/InterestGrp/TotalAmt025491
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt010
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0111004
IRS990/LandBldgEquipBasisNetGrp/BOYAmt04326
IRS990/LandBldgEquipBasisNetGrp/EOYAmt026836
IRS990/LandBldgEquipCostOrOtherBssAmt0137840
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/BOYAmt0225000
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0419218
IRS990/NetAssetsOrFundBalancesBOYAmt02431116
IRS990/NetAssetsOrFundBalancesEOYAmt03220894
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt01974
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt01974
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt02431116
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0918742
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt064076
IRS990/OfficeExpensesGrp/TotalAmt042832
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt013376
IRS990/OtherAssetsTotalGrp/EOYAmt036846
IRS990/OtherEmployeeBenefitsGrp/TotalAmt047134
IRS990/OtherExpensesGrp/Desc0BAD DEBT EXPENSE
IRS990/OtherExpensesGrp/Desc1LOAN SVC FEES
IRS990/OtherExpensesGrp/Desc2DUES/SUBSCRIPTIONS
IRS990/OtherExpensesGrp/TotalAmt0252267
IRS990/OtherExpensesGrp/TotalAmt111045
IRS990/OtherExpensesGrp/TotalAmt27670
IRS990/OtherLiabilitiesGrp/EOYAmt078943
IRS990/OtherSalariesAndWagesGrp/TotalAmt0306790
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt02593887
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt03486109
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/TotalAmt037280
IRS990/PensionPlanContributionsGrp/TotalAmt013415
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt017566
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt015164
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/RelatedOrExemptFuncIncomeAmt0443590
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1239335
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2111570
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt354563
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt420868
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0443590
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1239335
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2111570
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt354563
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt420868
IRS990/ProgSrvcAccomActy2Grp/Desc0RLF PROGRAM: ROCKFORD LOCAL DEVELOPMENT CORPORATION ALSO MANAGES SIX REVOLVING LOAN PROGRAMS SERVING FOUR COUNTIES IN NORTHERN ILLINOIS (STEPHENSON, MCHENRY, WINNEBAGO AND BOONE). TOTALING 6,177,220, THESE LOAN FUNDS ARE TARGETED TO SERVE LOW-INCOME COMMUNITIES, DISADVANTAGED BUSINESSES AND MANUFACTURING EMPLOYMENT. PRESENTLY, THERE ARE APPROXIMATELY 147 LOANS OUTSTANDING TO SMALL BUSINESSES. IN FY 2023, ROCKFORD LOCAL DEVELOPMENT CORPORATION, THROUGH ITS MANAGEMENT OF THESE SIX REVOLVING LOAN PROGRAMS, CLOSED 51 LOANS FOR ELIGIBLE PROJECTS TOTALING 2,889,850.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0690600
IRS990/PYInvestmentIncomeAmt01859
IRS990/PYOtherExpensesAmt0248866
IRS990/PYProgramServiceRevenueAmt0806015
IRS990/PYRevenuesLessExpensesAmt0629254
IRS990/PYSalariesCompEmpBnftPaidAmt0620354
IRS990/PYTotalExpensesAmt0869220
IRS990/PYTotalRevenueAmt01498474
IRS990/ReconcilationRevenueExpnssAmt0789778
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0true
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0165178
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0248456
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BoardDesignatedBalanceEOYPct01.00000
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt023381
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0622004
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt045000
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0546556
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt030933
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt0128000
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt026836
IRS990ScheduleD/EquipmentGrp/DepreciationAmt081222
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0108058
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt029782
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt029782
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt053943
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt125000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LEASE LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO NICDC
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS HAS DESIGNATED 546,556 AS OF SEPTEMBER 2023, TO BE EXPENDED ONLY FOR CERTAIN PROGRAMS AS SPECIFIED BY THE GOVERNMENT GRANTOR AGENCIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
IRS990ScheduleD/TotalBookValueLandBuildingsAmt026836
IRS990ScheduleD/TotalLiabilityAmt078943
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0180962
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt09048
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt042478
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOHN PHELPS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0232488
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

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,867,454
Liabilities
$646,560
Net assets
$3,220,894
Revenue
$1,914,300
Expenses
$1,124,522
Net income
$789,778
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