Civic Intelligence

Lake County Illinois Convention & Visitors Bureau

990 • Fiscal year 2019 • EIN 36-3344874

Jul 01, 2018 to Jun 30, 2019 • Filed on Jan 16, 2020

5465 West Grand Avenue No 100Gurnee, IL 60031

(847) 662-2700

Siviq Scores

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

Liabilities / Assets

40th percentile

0.10x

Higher debt load relative to assets than 40% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

31st percentile

0.06x

Higher debt load relative to revenue than 31% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Net Margin

66th percentile

8.4%

Higher net margin than 66% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

50th percentile

$142,230

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 6.6% of source-year revenue.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Asset Growth

96th percentile

65%

Faster asset growth than 96% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

87th percentile

22%

Faster revenue growth than 87% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$1,310,621

Up $518,406 (+65%) from 2018

Net Assets

Up

$1,173,343

Up $460,980 (+65%) from 2018

Liabilities

Up

$137,278

Up $57,426 (+72%) from 2018

Revenue

Up

$2,164,146

Up $392,219 (+22%) from 2018

Expenses

Up

$1,982,106

Up $278,877 (+16%) from 2018

Net Income

Up

$182,040

Up $113,342 (+165%) from 2018

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2018: $792,215Liabilities 2018: $79,852Net Assets 2018: $712,3632018Assets 2019: $1,310,621Liabilities 2019: $137,278Net Assets 2019: $1,173,3432019Assets 2020: $1,337,955Liabilities 2020: $368,829Net Assets 2020: $969,1262020Assets 2021: $1,232,678Liabilities 2021: $120,495Net Assets 2021: $1,112,1832021Assets 2022: $1,545,455Liabilities 2022: $34,620Net Assets 2022: $1,510,8352022Assets 2023: $1,658,735Liabilities 2023: $122,650Net Assets 2023: $1,536,0852023Assets 2024: $1,782,008Liabilities 2024: $111,890Net Assets 2024: $1,670,1182024Assets 2025: $2,190,444Liabilities 2025: $304,746Net Assets 2025: $1,885,6982025

Highlighted filing

2019

Assets$1,310,621
Liabilities$137,278
Net Assets$1,173,343

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2018: $1,771,927Expenses 2018: $1,703,229Net Income 2018: $68,6982018Revenue 2019: $2,164,146Expenses 2019: $1,982,106Net Income 2019: $182,0402019Revenue 2020: $1,466,923Expenses 2020: $1,671,140Net Income 2020: -$204,2172020Revenue 2021: $1,600,265Expenses 2021: $1,457,208Net Income 2021: $143,0572021Revenue 2022: $2,068,670Expenses 2022: $1,625,409Net Income 2022: $443,2612022Revenue 2023: $2,273,777Expenses 2023: $2,248,527Net Income 2023: $25,2502023Revenue 2024: $2,680,848Expenses 2024: $2,546,815Net Income 2024: $134,0332024Revenue 2025: $2,594,999Expenses 2025: $2,379,419Net Income 2025: $215,5802025

Highlighted filing

2019

Revenue$2,164,146
Expenses$1,982,106
Net Income$182,040
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jan 16, 2020
Return Version
2018v3.1
Gross Receipts
$2,164,427
Mission and Program Overview

Mission

Promoting travel to lake county illinois by publication of brochures, radio, internet and television advertising as well as related general and specific promotional activities.

Promoting travel to lake county, illinois through promotional activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$400,367-
Prepaid Expenses and Deferred Charges$0$359,603▲ $359,603
Cash and Non-Interest-Bearing Accounts$616,789$312,907▼ $303,882
Accounts Receivable$159,961$219,177▲ $59,216
Land, Buildings, and Equipment, Net$10,171$13,273▲ $3,102
Total Assets$792,215$1,310,621▲ $518,406
Other Assets Total$5,294$5,294→ $0
Liabilities
Accounts Payable and Accrued Expenses$29,284$86,710▲ $57,426
Deferred Revenue$50,568$50,568→ $0
Total Liabilities$79,852$137,278▲ $57,426
Net Assets / Fund Balance
Unrestricted Net Assets$712,363$1,173,343▲ $460,980
Total Net Assets Fund Balance$712,363$1,173,343▲ $460,980
Total Liabilities and Net Assets / Fund Balance$792,215$1,310,621▲ $518,406

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$0$95,867$95,867
Other Land Buildings$13,273$35,020$48,293
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Maureen RiedyPresidentFT$142,230$142,230

Board Members and Trustees

NameTitle
Cheryl RossChair
David MotleyVice-chair
Andrew LichtermanDirector
Brad BurkeDirector
Brad LajoieDirector
Conrad KowalDirector
Greg KoeppenDirector
James KeimDirector
Judy MartiniDirector
Kerston RussellDirector
Nadine MiracleDirector
Ray KellerDirector
Sonolito BronsonDirector
Randy EbertowskiSecretary
John KrajnakTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,392,436
Program Service Revenue
$758,448
Investment Income
$3,033
Other Revenue
$10,229
Change in Net Assets
$182,040

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,164,146
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,164,146
Total Revenue per Form 990
$2,164,146
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,362,228
Salaries, Compensation, and Employee Benefits$619,878
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising---$949,986
Other Salaries and Wages---$309,522
Current Officers, Directors, Trustees, and Key Employees---$159,104
Other Employee Benefits---$107,368
Occupancy---$77,013
Conferences and Meetings---$54,767
Fees for Services Other---$48,877
Information Technology---$44,013
Payroll Taxes---$43,884
Travel---$18,885
Office Expenses---$17,182
Insurance---$7,638
Other Expenses---$3,702
Depreciation Depletion---$3,591
Total Functional Expenses$0$0$0$1,982,106

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,982,106
Total Expenses per Audited Statements$1,982,106
Total Expenses per Form 990$1,982,106
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Annual disclosure for covered persons
Yes
Audit committee
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 B, Line 11B

A draft of the form 990 and related schedules is provided to all board members. The audit and the 990 are then discussed and approved at a board meeting.

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

The organization includes the conflict of interest policy in their employee manual which is distributed to each employee upon the start of their employment.

Form 990, Part VI, Section B, Line 15

Annual review by executive committee of board of directors. The review includes compensation data from the national association of convention and vistiors bureaus. A written form is used, which is retained.

Form 990, Part VI, Section C, Line 19

Financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Lake County Illinois Convention &
EIN
36-3344874
Phone
8476622700
Address
5465 WEST GRAND AVENUE NO 100, GURNEE, IL 60031

Signing Officer

Name
Maureen Riedy
Title
President
Phone
8476622700
Signed
2020-01-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Maureen Riedy
Formed
1984
Legal Domicile
Il
Voting Board Members
15
Independent Board Members
15
Employees
8
Volunteers
15

Preparer

Firm
Sikich Llp
Address
1415 W DIEHL RD SUITE 400, NAPERVILLE, IL 60563-2349
Preparer
Jill M Boyle CPA
Phone
6305668400
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The organization qualifies for tax-exempt status under section 501(c)(6) of the internal revenue code as other than a private foundation.

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IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0359603
IRS990/PrincipalOfficerNm0MAUREEN RIEDY
IRS990/PriorPeriodAdjustmentsAmt0278940
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1511190
IRS990/ProgramServiceRevenueGrp/Desc0HOTEL TAX REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1MEMBER DUES/ASSESSMENT
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0470843
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1287605
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0470843
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1287605
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01673672
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0704
IRS990/PYOtherExpensesAmt01195905
IRS990/PYOtherRevenueAmt08624
IRS990/PYProgramServiceRevenueAmt088927
IRS990/PYRevenuesLessExpensesAmt068698
IRS990/PYSalariesCompEmpBnftPaidAmt0507324
IRS990/PYTotalExpensesAmt01703229
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01771927
IRS990/ReconcilationRevenueExpnssAmt0182040
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0400367
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/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01982106
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt095867
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt095867
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt013273
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt035020
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt048293
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02164146
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION QUALIFIES FOR TAX-EXEMPT STATUS UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE AS OTHER THAN A PRIVATE FOUNDATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt013273
IRS990ScheduleD/TotalExpensesPerForm990Amt01982106
IRS990ScheduleD/TotalRevenuePerForm990Amt02164146
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02164146
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01982106
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT OF THE FORM 990 AND RELATED SCHEDULES IS PROVIDED TO ALL BOARD MEMBERS. THE AUDIT AND THE 990 ARE THEN DISCUSSED AND APPROVED AT A BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION INCLUDES THE CONFLICT OF INTEREST POLICY IN THEIR EMPLOYEE MANUAL WHICH IS DISTRIBUTED TO EACH EMPLOYEE UPON THE START OF THEIR EMPLOYMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANNUAL REVIEW BY EXECUTIVE COMMITTEE OF BOARD OF DIRECTORS. THE REVIEW INCLUDES COMPENSATION DATA FROM THE NATIONAL ASSOCIATION OF CONVENTION AND VISTIORS BUREAUS. A WRITTEN FORM IS USED, WHICH IS RETAINED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0792215
IRS990/TotalAssetsEOYAmt01310621
IRS990/TotalAssetsGrp/BOYAmt0792215
IRS990/TotalAssetsGrp/EOYAmt01310621
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01392436
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/TotalAmt01982106
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt079852
IRS990/TotalLiabilitiesEOYAmt0137278
IRS990/TotalLiabilitiesGrp/BOYAmt079852
IRS990/TotalLiabilitiesGrp/EOYAmt0137278
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0712363
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01173343
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt0758448
IRS990/TotalReportableCompFromOrgAmt0142230
IRS990/TotalRevenueGrp/ExclusionAmt03033
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0768677
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02164146
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt015
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0792215
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01310621
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt018885
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0712363
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01173343
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05465 WEST GRAND AVENUE NO 100
IRS990/USAddress/CityNm0GURNEE
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060031
IRS990/VotingMembersGoverningBodyCnt015
IRS990/VotingMembersIndependentCnt015
IRS990/WebsiteAddressTxt0WWW.VISITLAKECOUNTY.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MAUREEN RIEDY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08476622700
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-01-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LAKE COUNTY ILLINOIS CONVENTION &
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0VISITORS BUREAU
ReturnHeader/Filer/BusinessNameControlTxt0LAKE
ReturnHeader/Filer/EIN0363344874
ReturnHeader/Filer/PhoneNum08476622700
ReturnHeader/Filer/USAddress/AddressLine1Txt05465 WEST GRAND AVENUE NO 100
ReturnHeader/Filer/USAddress/CityNm0GURNEE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060031

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