Civic Intelligence

Freeport Area Economic Development Foundation Inc

990 • Fiscal year 2015 • EIN 36-3280411

Jan 01, 2015 to Dec 31, 2015 • Filed on Jul 14, 2016

27 W Stephenson StFreeport, IL 61032

(815) 235-3950

Siviq Scores

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

Liabilities / Assets

86th percentile

0.35x

Higher debt load relative to assets than 86% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

91st percentile

0.43x

Higher debt load relative to revenue than 91% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

70th percentile

14%

Higher net margin than 70% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

99th percentile

$132,380

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 45.0% of source-year revenue.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

49th percentile

0.9%

Faster asset growth than 49% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

65th percentile

12%

Faster revenue growth than 65% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Assets

Up

$365,436

Up $3,156 (+0.9%) from 2014

Net Assets

Up

$237,850

Up $40,745 (+21%) from 2014

Liabilities

Down

$127,586

Down $37,589 (-23%) from 2014

Revenue

Up

$294,081

Up $32,383 (+12%) from 2014

Expenses

Down

$253,336

Down $15,021 (-5.6%) from 2014

Net Income

Up

$40,745

Up $47,404 (+712%) from 2014

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

2015

Assets$365,436
Liabilities$127,586
Net Assets$237,850

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

2015

Revenue$294,081
Expenses$253,336
Net Income$40,745
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Jul 14, 2016
Return Version
2015v2.1
Gross Receipts
$313,566
Mission and Program Overview

Mission

To promote economic development in northwest illinois.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$160,603$161,326▲ $723
Land, Buildings, and Equipment, Net$126,204$120,716▼ $5,488
Accounts Receivable$26,480$56,035▲ $29,555
Cash and Non-Interest-Bearing Accounts$48,993$26,909▼ $22,084
Prepaid Expenses and Deferred Charges-$450-
Total Assets$362,280$365,436▲ $3,156
Liabilities
Unsecured Notes Loans Payable$76,132$65,396▼ $10,736
Mortgage Notes Payable Secured by Investment Property$79,979$49,997▼ $29,982
Accounts Payable and Accrued Expenses$9,064$12,193▲ $3,129
Total Liabilities$165,175$127,586▼ $37,589
Net Assets / Fund Balance
Unrestricted Net Assets$185,157$216,481▲ $31,324
Temporarily Rstr Net Assets$11,948$21,369▲ $9,421
Total Net Assets Fund Balance$197,105$237,850▲ $40,745
Total Liabilities and Net Assets / Fund Balance$362,280$365,436▲ $3,156

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$54,142$48,383$102,525
Equipment$7,497$35,190$42,687
Land$59,077--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Dave YoungExecutive DirectorFT$132,380$132,380
Tess DahmAssociate DirectorFT$36,658$36,658

Board Members and Trustees

NameTitle
Fritz KuhlmeierChair
Brian HelmVice Chair
Doug BlockDirector
Gary QuinnDirector
Mark WrightDirector
Michael SchiffmanDirector
Mike ClarkDirector
Steve KneubuehlDirector
Todd WeegensDirector
Tom KlemmCity Alderperson Rep
James GitzMayor, City of Freeport
Mark WinterSecretary
Mary HartmanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$279,330
Program Service Revenue
$0
Investment Income
$723
Other Revenue
$14,028
All Other Contributions
$179,330
Change in Net Assets
$40,745
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$189,812
Other Expenses$63,524
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$169,038--$169,038
Occupancy$16,914--$16,914
Payroll Taxes$12,213--$12,213
Other Expenses$12,050--$12,050
Fees for Services Accounting-$11,585-$11,585
Other Employee Benefits$8,561--$8,561
Depreciation Depletion$7,755--$7,755
Travel$7,465--$7,465
Office Expenses-$3,038-$3,038
Conferences and Meetings$1,888--$1,888
Interest$746$983-$1,729
Insurance-$1,100-$1,100
Total Functional Expenses$236,630$16,706$0$253,336
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
No
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

Filer Name
Freeport Area Economic Development
EIN
36-3280411
Phone
8152353950
Address
27 W STEPHENSON ST, FREEPORT, IL 61032
Doing Business As
Northwest Il Development Alliance

Signing Officer

Name
Mike Clark
Title
Chairman
Phone
8152331350
Signed
2016-07-14
Discuss with paid preparer
Yes

Organization Details

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

Preparer

Firm
Wipfli Llp
Address
PO BOX 5407, ROCKFORD, IL 61125-0407
Preparer
Neal T Richardson
Phone
8153997700
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

No changes from the prior year.

Raw XML AppendixShowing 400 of 432 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/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0253000
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0802
IRS990/PYOtherExpensesAmt066597
IRS990/PYOtherRevenueAmt07896
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-6659
IRS990/PYSalariesCompEmpBnftPaidAmt0201760
IRS990/PYTotalExpensesAmt0268357
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0261698
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt040745
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt09783
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0160603
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0161326
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0279330
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0253000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0259250
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0335335
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0286752
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01413667
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt034236
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt029800
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt032216
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt028462
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt035862
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0160576
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.89800
IRS990ScheduleA/PublicSupportPY170Pct00.89280
IRS990ScheduleA/PublicSupportTotal170Amt01413667
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0279330
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0253000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0259250
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0335335
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0286752
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01413667
IRS990ScheduleA/TotalSupportAmt01574243
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/BookValueAmt07497
IRS990ScheduleD/EquipmentGrp/DepreciationAmt035190
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt042687
IRS990ScheduleD/LandGrp/BookValueAmt059077
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt059077
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt054142
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt048383
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0102525
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0120716
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/BOYAmt011948
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt021369
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0362280
IRS990/TotalAssetsEOYAmt0365436
IRS990/TotalAssetsGrp/BOYAmt0362280
IRS990/TotalAssetsGrp/EOYAmt0365436
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0279330
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt016706
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0236630
IRS990/TotalFunctionalExpensesGrp/TotalAmt0253336
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0165175
IRS990/TotalLiabilitiesEOYAmt0127586
IRS990/TotalLiabilitiesGrp/BOYAmt0165175
IRS990/TotalLiabilitiesGrp/EOYAmt0127586
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0197105
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0237850
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0236630
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt010506
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt04245
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0294081
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0362280
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0365436
IRS990/TotReportableCompRltdOrgAmt0169038
IRS990/TravelGrp/ProgramServicesAmt07465
IRS990/TravelGrp/TotalAmt07465
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0185157
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0216481
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt076132
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt065396
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt027 W STEPHENSON ST
IRS990/USAddress/CityNm0FREEPORT
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd061032
IRS990/VotingMembersGoverningBodyCnt013

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