Civic Intelligence

Freeport Area Economic Development Foundation Inc

990 • Fiscal year 2020 • EIN 36-3280411

Jan 01, 2020 to Dec 31, 2020 • Filed on Jul 20, 2021

Organization ProfileGREATERFREEPORT.COM
110 W Main StFreeport, IL 61032

(815) 233-1350

Siviq Scores

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

Liabilities / Assets

66th percentile

0.17x

Higher debt load relative to assets than 66% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

58th percentile

0.11x

Higher debt load relative to revenue than 58% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

62nd percentile

13%

Higher net margin than 62% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

83rd percentile

$84,497

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 8.7% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

76th percentile

32%

Faster asset growth than 76% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

70th percentile

15%

Faster revenue growth than 70% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets66th percentile

Assets

Up

$623,370

Up $149,748 (+32%) from 2019

Net Assets

Up

$520,230

Up $130,894 (+34%) from 2019

Liabilities

Up

$103,140

Up $18,854 (+22%) from 2019

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin62nd percentile

Revenue

Up

$971,815

Up $127,219 (+15%) from 2019

Expenses

Up

$840,921

Up $23,004 (+2.8%) from 2019

Net Income

Up

$130,894

Up $104,215 (+391%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth76th percentile

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

2020

Assets$623,370
Liabilities$103,140
Net Assets$520,230
Open 2020 Filing

Operations Trend

Revenue Growth70th percentile

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

2020

Revenue$971,815
Expenses$840,921
Net Income$130,894
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jul 20, 2021
Return Version
2020v4.0
Gross Receipts
$997,828
Mission and Program Overview

Mission

To promote economic development in northwest illinois.

To promote economic and community development and enhancement in northwest illinois.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$77,836$392,765▲ $314,929
Savings and Temporary Cash Investments$164,544$165,904▲ $1,360
Land, Buildings, and Equipment, Net$50,788$42,432▼ $8,356
Other Notes and Loans Receivable, Net$35,000--
Accounts Receivable$134,054$15,110▼ $118,944
Prepaid Expenses and Deferred Charges$9,755$7,159▼ $2,596
Total Assets$473,622$623,370▲ $149,748
Other Assets Total$1,645--
Liabilities
Accounts Payable and Accrued Expenses$43,582$62,302▲ $18,720
Other Liabilities$14,134$38,558▲ $24,424
Deferred Revenue$26,570$2,280▼ $24,290
Total Liabilities$84,286$103,140▲ $18,854
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$319,758$505,639▲ $185,881
Net Assets With Donor Restrictions$69,578$14,591▼ $54,987
Total Net Assets Fund Balance$389,336$520,230▲ $130,894
Total Liabilities and Net Assets / Fund Balance$473,622$623,370▲ $149,748

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$30,577$73,990$104,567
Equipment$11,855$47,276$59,131
Compensation and Service Providers
Top Officer Pay83rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mark WilliamsExecutive DiFT$78,206$6,291$84,497

Board Members and Trustees

NameTitle
Gary QuinnChair
Mark GridleyVice Chair
Anna AlvaradoDirector
Brooke Deininger WagnerDirector
Chris KuberskiDirector
Jack CareyDirector
Mark WrightDirector
Mike MartenDirector
Mike MeadeDirector
Randy BukasDirector
Ross VehmeierDirector
Scott HelmsDirector
Tim HoodDirector
Josh ElliottSecretary
Chris SchneidermanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$894,401
Program Service Revenue
$65,443
Investment Income
$1,360
Other Revenue
$10,611
All Other Contributions
$51,159
Change in Net Assets
$130,894

Audited Revenue Reconciliation

Revenue per Audited Statements
$971,815
Total Revenue per Audited Statements
$971,815
Total Revenue per Form 990
$971,815
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$541,655
Other Expenses$299,266
Total Fundraising Expense$39,103
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$307,172$63,948$21,363$392,483
Occupancy$82,062$7,346$2,400$91,808
Current Officers, Directors, Trustees, and Key Employees$54,744$11,731$11,731$78,206
Fees for Services Accounting-$37,446-$37,446
Other Employee Benefits$26,369$9,492-$35,861
Payroll Taxes$28,891$3,682$2,532$35,105
Advertising$34,884--$34,884
Office Expenses$10,186$2,545-$12,731
Conferences and Meetings$7,942$685-$8,627
Depreciation Depletion$6,743$1,613-$8,356
Information Technology$5,724$2,332-$8,056
Insurance$3,528$2,935-$6,463
Other Expenses$6,783$3,830-$3,830
All Other Expenses$1,867$635$1,077$3,579
Fees for Services Legal-$1,383-$1,383
Travel$325$10-$335
Total Functional Expenses$645,097$156,721$39,103$840,921

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$840,921
Total Expenses per Audited Statements$840,921
Total Expenses per Form 990$840,921
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$21,695
Fundraising Gross Income$18,862
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outing$11,170$10,100$5,039$5,061
Kiwanis & Other$11,708$8,762$6,499$2,263
Total Events$22,878$18,862$21,695$-2,833
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Gift Certificates Outstanding$27,990
Other Liabilities$10,568
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
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, Page 6, Part VI, Line 11B

“The form 990 is reviewed by the board of directors.”

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

“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, Page 6, Part VI, Line 15A

“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, Page 6, Part VI, Line 15B

“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, Page 6, Part VI, Line 19

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

Filing and Contact Details

Filer

Filer Name
Greater Freeport Partnership
EIN
36-3280411
Phone
8152331350
Address
110 W MAIN ST, FREEPORT, IL 61032

Signing Officer

Name
Chris Schneiderman
Title
Treasurer
Phone
8152331350
Signed
2021-07-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gary Quinn
Formed
1984
Legal Domicile
Il
Voting Board Members
14
Independent Board Members
14
Employees
12
Volunteers
50

Preparer

Firm
Lucas Group Cpas Advisors LLC
Address
524 W STEPHENSON ST STE 200, FREEPORT, IL 61032
Preparer
Lucas a Beggin
Phone
8152359610
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“Management has determined that the organization does not have any uncertain tax positions and associated unrecognized benefits that would materially impact the financial statements or related disclosures.”

Raw XML AppendixShowing 400 of 516 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/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
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IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0TO PROMOTE ECONOMIC AND COMMUNITY DEVELOPMENT AND ENHANCEMENT IN NORTHWEST ILLINOIS.
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IRS990/OtherExpensesGrp/Desc1REPAIRS & MAINTENANCE
IRS990/OtherExpensesGrp/Desc2DUES & MEMBERSHIPS
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IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt02532
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03682
IRS990/PayrollTaxesGrp/ProgramServicesAmt028891
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IRS990/PoliticalCampaignActyInd0false
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IRS990/PrincipalOfficerNm0GARY QUINN
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IRS990/ProgramServiceRevenueGrp/Desc0MEMBER DUES
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IRS990/PYContributionsGrantsAmt0787512
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0-40689
IRS990/PYOtherExpensesAmt0276931
IRS990/PYOtherRevenueAmt031482
IRS990/PYProgramServiceRevenueAmt066291
IRS990/PYRevenuesLessExpensesAmt026679
IRS990/PYSalariesCompEmpBnftPaidAmt0540986
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IRS990/PYTotalRevenueAmt0844596
IRS990/ReconcilationRevenueExpnssAmt0130894
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt0164544
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0165904
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0PPP LOAN FORGIVENESS & EIDL 100,800
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SUPPORTING SCHEDULE
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0492761
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0500045
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03144262
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01360
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IRS990/ScheduleBRequiredInd0true
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt047276
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt059131
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IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0104567
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt027990
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt110568
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0GIFT CERTIFICATES OUTSTANDING
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1OTHER LIABILITIES
IRS990ScheduleD/RevenueSubtotalAmt0971815
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS AND ASSOCIATED UNRECOGNIZED BENEFITS THAT WOULD MATERIALLY IMPACT THE FINANCIAL STATEMENTS OR RELATED DISCLOSURES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalExpensesPerForm990Amt0840921
IRS990ScheduleD/TotalLiabilityAmt038558
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$623,370
Liabilities
$103,140
Net assets
$520,230
Revenue
$971,815
Expenses
$840,921
Net income
$130,894
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.90$0.40$0.50$0.98$0.91$0.07
2023Detailed filing. Detailed filing data is available for this year.$0.93$0.50$0.43$1.06$0.96$0.09
2022Detailed filing. Detailed filing data is available for this year.$0.94$0.60$0.34$0.90$1.00$0.10
2021Detailed filing. Detailed filing data is available for this year.$0.55$0.11$0.44$0.87$0.95$0.08
2020Detailed filing. Detailed filing data is available for this year.$0.62$0.10$0.52$0.97$0.84$0.13
2019Detailed filing. Detailed filing data is available for this year.$0.47$0.08$0.39$0.84$0.82$0.03
2017Detailed filing. Detailed filing data is available for this year.$0.39$0.10$0.29$0.50$0.57$0.07
2016Detailed filing. Detailed filing data is available for this year.$0.45$0.09$0.36$0.52$0.39$0.12
2015Detailed filing. Detailed filing data is available for this year.$0.37$0.13$0.24$0.29$0.25$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.36$0.17$0.20$0.26$0.27$0.01
2013Detailed filing. Detailed filing data is available for this year.$0.37$0.17$0.20$0.27$0.31$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.41$0.22$0.18$0.34
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.37$0.19$0.19$0.25