Civic Intelligence

Kankakee County Economic Development Association

990 • Fiscal year 2024 • EIN 36-3316264

Jul 01, 2023 to Jun 30, 2024 • Filed on Feb 04, 2025

Organization ProfileN/A
200 E Court St Suite 507Kankakee, IL 60901

(815) 929-4000

Siviq Scores

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

Liabilities / Assets

84th percentile

0.41x

Higher debt load relative to assets than 84% of similar nonprofits.

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

Liabilities / Revenue

83rd percentile

0.71x

Higher debt load relative to revenue than 83% of similar nonprofits.

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

Net Margin

46th percentile

6.9%

Higher net margin than 46% of similar nonprofits.

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

Top Officer Pay

62nd percentile

$0

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

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

Asset Growth

32nd percentile

-0.3%

Faster asset growth than 32% of similar nonprofits.

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

Revenue Growth

23rd percentile

-5.2%

Faster revenue growth than 23% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets84th percentile

Assets

Down

$1,522,540

Down $4,404 (-0.3%) from 2023

Net Assets

Up

$904,462

Up $60,193 (+7.1%) from 2023

Liabilities

Down

$618,078

Down $64,597 (-9.5%) from 2023

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin46th percentile

Revenue

Down

$866,838

Down $48,026 (-5.2%) from 2023

Expenses

Down

$806,645

Down $9,757 (-1.2%) from 2023

Net Income

Down

$60,193

Down $38,269 (-39%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth32nd percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2015: $573,278Liabilities 2015: $68,193Net Assets 2015: $505,0852015Assets 2016: $412,351Liabilities 2016: $69,764Net Assets 2016: $342,5872016Assets 2017: $404,718Liabilities 2017: $75,003Net Assets 2017: $329,7152017Assets 2018: $467,003Liabilities 2018: $70,110Net Assets 2018: $396,8932018Assets 2019: $598,995Liabilities 2019: $75,349Net Assets 2019: $523,6462019Assets 2020: $731,259Liabilities 2020: $80,042Net Assets 2020: $651,2172020Assets 2021: $823,573Liabilities 2021: $63,539Net Assets 2021: $760,0342021Assets 2022: $817,904Liabilities 2022: $72,097Net Assets 2022: $745,8072022Assets 2023: $1,526,944Liabilities 2023: $682,675Net Assets 2023: $844,2692023Assets 2024: $1,522,540Liabilities 2024: $618,078Net Assets 2024: $904,4622024Assets 2025: $1,490,746Liabilities 2025: $542,065Net Assets 2025: $948,6812025

Highlighted filing

2024

Assets$1,522,540
Liabilities$618,078
Net Assets$904,462
Open 2024 Filing

Operations Trend

Revenue Growth23rd percentile

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

$1.0M$500K$0-$500KRevenue 2015: $653,505Expenses 2015: $651,922Net Income 2015: $1,5832015Revenue 2016: $677,366Expenses 2016: $839,864Net Income 2016: -$162,4982016Revenue 2017: $691,987Expenses 2017: $704,859Net Income 2017: -$12,8722017Revenue 2018: $681,321Expenses 2018: $614,143Net Income 2018: $67,1782018Revenue 2019: $717,845Expenses 2019: $591,092Net Income 2019: $126,7532019Revenue 2020: $742,840Expenses 2020: $615,269Net Income 2020: $127,5712020Revenue 2021: $758,074Expenses 2021: $649,257Net Income 2021: $108,8172021Revenue 2022: $771,305Expenses 2022: $785,532Net Income 2022: -$14,2272022Revenue 2023: $914,864Expenses 2023: $816,402Net Income 2023: $98,4622023Revenue 2024: $866,838Expenses 2024: $806,645Net Income 2024: $60,1932024Revenue 2025: $891,026Expenses 2025: $846,807Net Income 2025: $44,2192025

Highlighted filing

2024

Revenue$866,838
Expenses$806,645
Net Income$60,193
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 4, 2025
Return Version
2023v6.0
Gross Receipts
$866,838
Mission and Program Overview

Mission

Promotes industrial and commercial development through management of an industrial rental facility.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$435,296$790,529▲ $355,233
Cash and Non-Interest-Bearing Accounts$413,914$124,064▼ $289,850
Land, Buildings, and Equipment, Net$37,402$31,641▼ $5,761
Prepaid Expenses and Deferred Charges$19,750$19,750→ $0
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,526,944$1,522,540▼ $4,404
Other Assets Total$620,582$556,556▼ $64,026
Liabilities
Other Liabilities$680,371$615,211▼ $65,160
Accounts Payable and Accrued Expenses$2,304$2,867▲ $563
Total Liabilities$682,675$618,078▼ $64,597
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$844,269$904,462▲ $60,193
Total Net Assets Fund Balance$844,269$904,462▲ $60,193
Total Liabilities and Net Assets / Fund Balance$1,526,944$1,522,540▼ $4,404

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$31,641$54,725$86,366
Other Assets Org$556,556--
Compensation and Service Providers
Top Officer Pay62nd percentile

Board Members and Trustees

NameTitle
Jeff HammesChairman
Phillip KambicChairman
Michael BoydVice Chairman
Jeff BennettDirector
Pat MartinDirector
Andy WheelerSecretary
Michael O'GormanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$861,746
Investment Income
$5,092
Other Revenue
$0
Change in Net Assets
$60,193

Audited Revenue Reconciliation

Revenue per Audited Statements
$866,838
Total Revenue per Audited Statements
$866,838
Total Revenue per Form 990
$866,838
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$569,645
Grants and Similar Amounts Paid$237,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$237,000--$237,000
Insurance$92,128$606-$92,734
Fees for Services Management$75,000--$75,000
Other Expenses$33,868--$33,868
Fees for Services Accounting-$13,500-$13,500
Depreciation Depletion$5,761--$5,761
Fees for Services Legal$1,957$267-$2,224
Office Expenses-$66-$66
All Other Expenses-$15-$15
Total Functional Expenses$792,191$14,454$0$806,645

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$806,645
Total Expenses per Audited Statements$806,645
Total Expenses per Form 990$806,645
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Economic Alliance of Kankakee CoKankakee, IL-Support economic development activity in Kankakee County$237,000
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating lease liability$556,556
Accrued Real Estate Tax$37,265
Security deposits$21,390
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Officers review tax return prior to filing”

Form 990, Part VI, Section C, Line 19

“Available to public upon request.”

Filing and Contact Details

Filer

Filer Name
Kankakee County Economic Development
EIN
36-3316264
Phone
8159294000
Address
200 E Court St Suite 507, Kankakee, IL 60901

Signing Officer

Name
Michael O'Gorman
Title
Treasurer
Signed
2025-02-04
Discuss with paid preparer
Yes

Organization Details

Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Borschnack Pelletier & Co
Address
200 E COURT ST STE 608, KANKAKEE, IL 60901
Preparer
James F Borschnack
Phone
8159331771
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The Treasurer has been delegated the responsibility for obtaining bids for the audit and for oversight of the audit. The treasurer then takes all information to the full board for approval.”

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IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0435296
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0790529
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt0806645
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt031641
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt054725
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt086366
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0556556
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Right-of-use asset
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt037265
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1556556
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt221390
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Accrued Real Estate Tax
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Operating lease liability
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Security deposits
IRS990ScheduleD/RevenueSubtotalAmt0866838
IRS990ScheduleD/TotalBookValueLandBuildingsAmt031641
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0556556
IRS990ScheduleD/TotalExpensesPerForm990Amt0806645
IRS990ScheduleD/TotalLiabilityAmt0615211
IRS990ScheduleD/TotalRevenuePerForm990Amt0866838
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0866838
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0806645
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt0237000
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Support economic development activity in Kankakee County
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Economic Alliance of Kankakee Co
IRS990ScheduleI/RecipientTable/RecipientEIN0262831810
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0200 E Court Street Suite 507
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Kankakee
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0IL
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd060901
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Officers review tax return prior to filing
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Available to public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Treasurer has been delegated the responsibility for obtaining bids for the audit and for oversight of the audit. The treasurer then takes all information to the full board for approval.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part XII, Line 2c
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0true
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd1false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Economic Alliance of Kankakee County Inc
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1Area Jobs Development Association
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0262831810
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1363251054
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt06
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt13
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0IL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1IL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Economic Development
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1Improve employment and commercial activity
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt09
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0200 E Court Ste 507
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1PO Box 333
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Kankakee
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1Aroma Park
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0IL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1IL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd060901
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd160910
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0true
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0237000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1110440
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Cash
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1Cash
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Economic Alliance of Kankakee County Inc
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1Area Jobs Development Association
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0b
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1k
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IL
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01526944
IRS990/TotalAssetsEOYAmt01522540
IRS990/TotalAssetsGrp/BOYAmt01526944
IRS990/TotalAssetsGrp/EOYAmt01522540
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt014454
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0792191
IRS990/TotalFunctionalExpensesGrp/TotalAmt0806645
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0682675
IRS990/TotalLiabilitiesEOYAmt0618078
IRS990/TotalLiabilitiesGrp/BOYAmt0682675
IRS990/TotalLiabilitiesGrp/EOYAmt0618078
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0844269
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0904462
IRS990/TotalProgramServiceExpensesAmt0792191
IRS990/TotalProgramServiceRevenueAmt0861746
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0866838
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0866838
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01526944
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01522540
IRS990/TravelGrp/TotalAmt00
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$1,522,540
Liabilities
$618,078
Net assets
$904,462
Revenue
$866,838
Expenses
$806,645
Net income
$60,193
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.49$0.54$0.95$0.89$0.85$0.04
2024Detailed filing. Detailed filing data is available for this year.$1.52$0.62$0.90$0.87$0.81$0.06
2023Detailed filing. Detailed filing data is available for this year.$1.53$0.68$0.84$0.91$0.82$0.10
2022Detailed filing. Detailed filing data is available for this year.$0.82$0.07$0.75$0.77$0.79$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.82$0.06$0.76$0.76$0.65$0.11
2020Detailed filing. Detailed filing data is available for this year.$0.73$0.08$0.65$0.74$0.62$0.13
2019Detailed filing. Detailed filing data is available for this year.$0.60$0.08$0.52$0.72$0.59$0.13
2018Detailed filing. Detailed filing data is available for this year.$0.47$0.07$0.40$0.68$0.61$0.07
2017Detailed filing. Detailed filing data is available for this year.$0.40$0.08$0.33$0.69$0.70$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.41$0.07$0.34$0.68$0.84$0.16
2015Detailed filing. Detailed filing data is available for this year.$0.57$0.07$0.51$0.65$0.65$0.00