Civic Intelligence

Kewanee Economic Development Corp

EIN 36-3276581 • 501(c)4 • Kewanee, IL

Profile

ECONOMIC DEVELOPMENT

404 E Third StreetKewanee, IL 61443

kedcorp.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

32nd percentile

0.00x

Higher debt load relative to assets than 32% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

38th percentile

0.01x

Higher debt load relative to revenue than 38% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2024

Net Margin

91st percentile

62%

Higher net margin than 91% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

77th percentile

$58,292

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 25.9% of source-year revenue.

501(c)4 • $1M-$5M nonprofits • Source year 2024

Asset Growth

68th percentile

11%

Faster asset growth than 68% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

28th percentile

-1.4%

Faster revenue growth than 28% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Up

$1,449,041

Up $140,552 (+11%) from 2023

Liabilities

Up

$1,642

Up $45 (+2.8%) from 2023

Net Assets

Up

$1,447,399

Up $140,507 (+11%) from 2023

Operations
Liabilities / Revenue38th percentileNet Margin91st percentile

Revenue

Down

$225,157

Down $3,122 (-1.4%) from 2023

Expenses

Up

$84,650

Up $6,126 (+7.8%) from 2023

Net Income

Down

$140,507

Down $9,248 (-6.2%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth68th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0Assets 2020: $913,932Liabilities 2020: $13,789Net Assets 2020: $900,1432020Assets 2021: $950,675Liabilities 2021: $1,350Net Assets 2021: $949,3252021Assets 2022: $1,158,704Liabilities 2022: $1,567Net Assets 2022: $1,157,1372022Assets 2023: $1,308,489Liabilities 2023: $1,597Net Assets 2023: $1,306,8922023Assets 2024: $1,449,041Liabilities 2024: $1,642Net Assets 2024: $1,447,3992024

Highlighted filing

2024

Assets$1,449,041
Liabilities$1,642
Net Assets$1,447,399
Open 2024 Filing

Operations Trend

Revenue Growth28th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$300K$200K$100K$0Revenue 2020: $126,736Expenses 2020: $72,549Net Income 2020: $54,1872020Revenue 2021: $124,328Expenses 2021: $75,146Net Income 2021: $49,1822021Revenue 2022: $281,958Expenses 2022: $74,146Net Income 2022: $207,8122022Revenue 2023: $228,279Expenses 2023: $78,524Net Income 2023: $149,7552023Revenue 2024: $225,157Expenses 2024: $84,650Net Income 2024: $140,5072024

Highlighted filing

2024

Revenue$225,157
Expenses$84,650
Net Income$140,507
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,449,041
Liabilities
$1,642
Net assets
$1,447,399
Revenue
$225,157
Expenses
$84,650
Net income
$140,507
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.45$0.00$1.45$0.23$0.08$0.14
2023Detailed filing. Detailed filing data is available for this year.$1.31$0.00$1.31$0.23$0.08$0.15
2022Detailed filing. Detailed filing data is available for this year.$1.16$0.00$1.16$0.28$0.07$0.21
2021Detailed filing. Detailed filing data is available for this year.$0.95$0.00$0.95$0.12$0.08$0.05
2020Detailed filing. Detailed filing data is available for this year.$0.91$0.01$0.90$0.13$0.07$0.05
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 25, 2025
Return Version
2024v5.1
Gross Receipts
$230,868
Mission and Program Overview

Mission

ECONOMIC DEVELOPMENT

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,306,892$1,447,399▲ $140,507
Savings and Temporary Cash Investments$1,004,894$1,145,446▲ $140,552
Total Assets$1,308,489$1,449,041▲ $140,552
Other Assets Total$303,595$303,595→ $0
Liabilities
Accounts Payable and Accrued Expenses$1,597$1,642▲ $45
Total Liabilities$1,597$1,642▲ $45
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,306,892$1,447,399▲ $140,507
Total Liabilities and Net Assets / Fund Balance$1,308,489$1,449,041▲ $140,552

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$3,595--
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Katherine J AlbertExecutive DirectorPT$58,292$58,292

Board Members and Trustees

NameTitle
Charles EastmanPresident
Thomas G RatliffVice President
See ListDirectors
Mark RewertsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$48,105
Program Service Revenue
$0
Investment Income
$2,555
Other Revenue
$174,497
All Other Contributions
$48,105
Change in Net Assets
$140,507
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$76,210
Other Expenses$8,440
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$58,292$0$0$58,292
Other Employee Benefits$8,640$0$0$8,640
Payroll Taxes$5,278$0$0$5,278
Pension Plan Contributions$4,000$0$0$4,000
Insurance$2,739$0$0$2,739
Fees for Services Accounting$1,150$0$0$1,150
Office Expenses$977$0$0$977
Conferences and Meetings$781$0$0$781
Travel$64$0$0$64
Total Functional Expenses$84,650$0$0$84,650
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
Backup withholding compliance
Yes
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
Yes
Filing and Contact Details

Filer

Filer Name
Kewanee Economic Development Corp
EIN
36-3276581
Phone
3098535000
Address
404 E THIRD STREET, KEWANEE, IL 61443

Signing Officer

Name
Katherine Albert
Title
Executive Director
Phone
3098535000
Signed
2025-04-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Katherine Albert
Formed
1975
Legal Domicile
Il
Voting Board Members
20
Independent Board Members
20
Employees
1
Volunteers
50

Preparer

Firm
Calvert Tax & Bookkeeping
Address
210 N Tremont, Kewanee, IL 61443
Preparer
Karin R Cook CPA
Phone
3098534693
Supplemental Narrative

Additional Explanations

Pt VI, Line 1A

“City manager, city council members, bank presidents”

Pt VI, Line 3

“The executive directors duties are documented and updated annually by the board of directors.”

Pt VI, Line 6

“The organization has 5 voting members on the governing board and 20 members who are independent.”

Pt VI, Line 7B

“The decisions of the governing body are approved by the members.”

Pt VI, Line 11B

“A copy of the annual 990 is presented to the treasurer prior to being filed.”

Raw XML Appendix334 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.

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IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd061443
IRS990/VotingMembersGoverningBodyCnt020
IRS990/VotingMembersIndependentCnt020
IRS990/WebsiteAddressTxt0kedcorp.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KATHERINE ALBERT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03098535000
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0KEWANEE ECONOMIC DEVELOPMENT CORP
ReturnHeader/Filer/BusinessNameControlTxt0KEWA
ReturnHeader/Filer/EIN0363276581
ReturnHeader/Filer/PhoneNum03098535000
ReturnHeader/Filer/USAddress/AddressLine1Txt0404 E THIRD STREET
ReturnHeader/Filer/USAddress/CityNm0KEWANEE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd061443
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0364035487
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Calvert Tax & Bookkeeping
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0210 N Tremont
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Kewanee
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd061443
ReturnHeader/PreparerPersonGrp/PhoneNum03098534693
ReturnHeader/PreparerPersonGrp/PreparationDt02025-04-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KARIN R COOK CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02025-04-29T12:18:23-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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