Civic Intelligence

Freeport Area Economic Development Foundation Inc

990 • Fiscal year 2013 • EIN 36-3280411

Jan 01, 2013 to Dec 31, 2013 • Filed on Jun 18, 2014

27 W Stephenson St61032

(815) 235-3950

Siviq Scores

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

Liabilities / Assets

88th percentile

0.45x

Higher debt load relative to assets than 88% of similar nonprofits.

2013 filings • 501(c)3 • <$500k nonprofits • Source year 2013

Liabilities / Revenue

93rd percentile

0.63x

Higher debt load relative to revenue than 93% of similar nonprofits.

2013 filings • 501(c)3 • <$500k nonprofits • Source year 2013

Net Margin

21st percentile

-13%

Higher net margin than 21% of similar nonprofits.

2013 filings • 501(c)3 • <$500k nonprofits • Source year 2013

Top Officer Pay

99th percentile

$108,469

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 39.9% of source-year revenue.

2013 filings • 501(c)3 • <$500k nonprofits • Source year 2013

Asset Growth

30th percentile

-8.6%

Faster asset growth than 30% of similar nonprofits.

2013 filings • 501(c)3 • <$500k nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Assets

Down

$373,706

Down $35,304 (-8.6%) from 2012

Net Assets

Up

$203,764

Up $18,939 (+10%) from 2012

Liabilities

Down

$169,942

Down $54,243 (-24%) from 2012

Revenue

$271,784

No earlier filing loaded for comparison.

Expenses

Down

$307,603

Down $28,870 (-8.6%) from 2012

Net Income

-$35,819

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0Assets 2011: $373,104Liabilities 2011: $186,702Net Assets 2011: $186,4022011Assets 2012: $409,010Liabilities 2012: $224,185Net Assets 2012: $184,8252012Assets 2013: $373,706Liabilities 2013: $169,942Net Assets 2013: $203,7642013Assets 2014: $362,280Liabilities 2014: $165,175Net Assets 2014: $197,1052014Assets 2015: $365,436Liabilities 2015: $127,586Net Assets 2015: $237,8502015Assets 2016: $450,444Liabilities 2016: $89,302Net Assets 2016: $361,1422016Assets 2017: $392,954Liabilities 2017: $100,154Net Assets 2017: $292,8002017Assets 2019: $473,622Liabilities 2019: $84,286Net Assets 2019: $389,3362019Assets 2020: $623,370Liabilities 2020: $103,140Net Assets 2020: $520,2302020Assets 2021: $551,807Liabilities 2021: $112,053Net Assets 2021: $439,7542021Assets 2022: $935,815Liabilities 2022: $596,198Net Assets 2022: $339,6172022Assets 2023: $934,991Liabilities 2023: $500,623Net Assets 2023: $434,3682023Assets 2024: $901,070Liabilities 2024: $400,882Net Assets 2024: $500,1882024

Highlighted filing

2013

Assets$373,706
Liabilities$169,942
Net Assets$203,764

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2011: $247,4712011Expenses 2012: $336,4732012Revenue 2013: $271,784Expenses 2013: $307,603Net Income 2013: -$35,8192013Revenue 2014: $261,698Expenses 2014: $268,357Net Income 2014: -$6,6592014Revenue 2015: $294,081Expenses 2015: $253,336Net Income 2015: $40,7452015Revenue 2016: $517,834Expenses 2016: $394,542Net Income 2016: $123,2922016Revenue 2017: $504,581Expenses 2017: $572,923Net Income 2017: -$68,3422017Revenue 2019: $844,596Expenses 2019: $817,917Net Income 2019: $26,6792019Revenue 2020: $971,815Expenses 2020: $840,921Net Income 2020: $130,8942020Revenue 2021: $873,402Expenses 2021: $953,878Net Income 2021: -$80,4762021Revenue 2022: $901,924Expenses 2022: $1,002,061Net Income 2022: -$100,1372022Revenue 2023: $1,055,011Expenses 2023: $960,260Net Income 2023: $94,7512023Revenue 2024: $979,152Expenses 2024: $913,332Net Income 2024: $65,8202024

Highlighted filing

2013

Revenue$271,784
Expenses$307,603
Net Income-$35,819
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Jun 18, 2014
Return Version
2013v3.0
Gross Receipts
$291,466
Mission and Program Overview

Mission

To promote economic development in northwest illinois.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$159,005$159,802▲ $797
Land, Buildings, and Equipment, Net$145,630$135,998▼ $9,632
Accounts Receivable$58,842$49,745▼ $9,097
Cash and Non-Interest-Bearing Accounts$45,033$27,486▼ $17,547
Prepaid Expenses and Deferred Charges$500$675▲ $175
Total Assets$409,010$373,706▼ $35,304
Liabilities
Unsecured Notes Loans Payable$93,616$85,483▼ $8,133
Mortgage Notes Payable Secured by Investment Property$59,984$74,980▲ $14,996
Accounts Payable and Accrued Expenses$70,585$9,479▼ $61,106
Total Liabilities$224,185$169,942▼ $54,243
Net Assets / Fund Balance
Unrestricted Net Assets$168,323$188,764▲ $20,441
Temporarily Rstr Net Assets$16,502$15,000▼ $1,502
Total Net Assets Fund Balance$184,825$203,764▲ $18,939
Total Liabilities and Net Assets / Fund Balance$409,010$373,706▼ $35,304

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$61,819$39,316$101,135
Equipment$15,102$26,707$41,809
Land$59,077--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Dave YoungExecutive DirectorFT$108,469$108,469
Tess DahmAssociate DirectorFT$39,499$39,499

Board Members and Trustees

NameTitle
Mike ClarkChair
Bill HadleyStephenson County Board Chair
Mark WrightVice Chair
Jeff MikkelsenCounty Board Rep
Brian HelmDirector
Doug BlockDirector
Dr Roberta SelleckDirector
Fritz KuhlmeierDirector
Mary HartmanDirector
Steve KneubuehlDirector
Todd WeegensDirector
Shawn BoldtCity Alderperson Rep
James GitzMayor, City of Freeport
Mark WinterSecretary
Peggy WohlfordTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$259,250
Program Service Revenue
$0
Investment Income
$797
Other Revenue
$11,737
All Other Contributions
$159,250
Change in Net Assets
$-35,819
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$222,938
Other Expenses$84,665
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$147,968--$147,968
Other Salaries and Wages$37,990$6,180-$44,170
Other Expenses$31,070--$31,070
Occupancy$16,710--$16,710
Other Employee Benefits$15,780--$15,780
Payroll Taxes$15,020--$15,020
Fees for Services Accounting-$13,592-$13,592
Depreciation Depletion$9,958--$9,958
Travel$6,315--$6,315
Office Expenses-$3,659-$3,659
Interest-$1,572-$1,572
Insurance-$1,100-$1,100
Conferences and Meetings$689--$689
Total Functional Expenses$281,500$26,103$0$307,603
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
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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, Section A, Line 2

Related party information among officers - stephenson county board chairman and director. City of freeport mayor and alderman.

Form 990, Part VI, Section B, Line 11

Organization's process to review form 990. The form 990 is reviewed as part of the financial report at the board of directors meeting.

Form 990, Part VI, Section B, Line 12C

Enforcement of conflicts policy monitoring of compliance with the conflict of interest policy is done at the time the form 990 is reviewed by the board of directors.

Form 990, Part VI, Section B, Line 15

Compensation process for top official and officers - compensation is based on data that is gathered from comparable organizations and reviewed by the executive committee acting as the compensation committee and then approved by the board of directors.

Form 990, Part VI, Section C, Line 19

The financial statements are available on the internet, as is the form 990, which discloses that the corporation's bylaws and conflict of interest policy are available upon request.

Filing and Contact Details

Filer

EIN
36-3280411
Phone
8152353950

Signing Officer

Name
Mike Clark
Title
Chairman
Phone
8152331350
Signed
2014-06-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mike Clark
Formed
1984
Legal Domicile
Il
Voting Board Members
13
Independent Board Members
13
Employees
3
Volunteers
0

Preparer

Preparer
Gregory a Dunham
Phone
8153997700
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

No changes from the prior year.

Raw XML AppendixShowing 400 of 450 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/OtherExpensesGrp/TotalAmt031070
IRS990/OtherRevenueMiscGrp/BusinessCd0448000
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt040
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt040
IRS990/OtherRevenueTotalAmt040
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt06180
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt037990
IRS990/OtherSalariesAndWagesGrp/TotalAmt044170
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt015020
IRS990/PayrollTaxesGrp/TotalAmt015020
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0500
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0675
IRS990/PrincipalOfficerNm0MIKE CLARK
IRS990/PriorPeriodAdjustmentsAmt054758
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0332970
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01087
IRS990/PYOtherExpensesAmt0153477
IRS990/PYOtherRevenueAmt0839
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-1577
IRS990/PYSalariesCompEmpBnftPaidAmt0182996
IRS990/PYTotalExpensesAmt0336473
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0334896
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-35819
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt011697
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0159005
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0159802
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0359250
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0335335
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0286752
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0186505
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0303500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01471342
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt032216
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt028462
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt035862
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt032331
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt065012
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0193883
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.88360
IRS990ScheduleA/PublicSupportPY170Pct00.79030
IRS990ScheduleA/PublicSupportTotal170Amt01471342
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0359250
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0335335
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0286752
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0186505
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0303500
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01471342
IRS990ScheduleA/TotalSupportAmt01665225
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/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt015102
IRS990ScheduleD/EquipmentGrp/DepreciationAmt026707
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt041809
IRS990ScheduleD/LandGrp/BookValueAmt059077
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt059077
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt061819
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt039316
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0101135
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0135998
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RELATED PARTY INFORMATION AMONG OFFICERS - STEPHENSON COUNTY BOARD CHAIRMAN AND DIRECTOR. CITY OF FREEPORT MAYOR AND ALDERMAN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ORGANIZATION'S PROCESS TO REVIEW FORM 990. THE FORM 990 IS REVIEWED AS PART OF THE FINANCIAL REPORT AT THE BOARD OF DIRECTORS MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ENFORCEMENT OF CONFLICTS POLICY MONITORING OF COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS DONE AT THE TIME THE FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION PROCESS FOR TOP OFFICIAL AND OFFICERS - COMPENSATION IS BASED ON DATA THAT IS GATHERED FROM COMPARABLE ORGANIZATIONS AND REVIEWED BY THE EXECUTIVE COMMITTEE ACTING AS THE COMPENSATION COMMITTEE AND THEN APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE INTERNET, AS IS THE FORM 990, WHICH DISCLOSES THAT THE CORPORATION'S BYLAWS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO CHANGES FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IL
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt016502
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt015000
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0409010
IRS990/TotalAssetsEOYAmt0373706
IRS990/TotalAssetsGrp/BOYAmt0409010
IRS990/TotalAssetsGrp/EOYAmt0373706
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0259250
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt026103
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0281500
IRS990/TotalFunctionalExpensesGrp/TotalAmt0307603
IRS990/TotalGrossUBIAmt040
IRS990/TotalLiabilitiesBOYAmt0224185
IRS990/TotalLiabilitiesEOYAmt0169942
IRS990/TotalLiabilitiesGrp/BOYAmt0224185
IRS990/TotalLiabilitiesGrp/EOYAmt0169942
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0184825
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0203764
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0281500
IRS990/TotalReportableCompFromOrgAmt0147968
IRS990/TotalRevenueGrp/ExclusionAmt012494
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0271784
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt040
IRS990/TotalVolunteersCnt00

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