Civic Intelligence

Mchenry County Economic Development Corporation

990 • Fiscal year 2021 • EIN 36-3849857

Jan 01, 2021 to Dec 31, 2021 • Filed on Oct 14, 2022

620 Dakota StreetCrystal Lake, IL 60012

(815) 893-0895

Siviq Scores

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

Liabilities / Assets

60th percentile

0.03x

Higher debt load relative to assets than 60% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

49th percentile

0.00x

Higher debt load relative to revenue than 49% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Net Margin

46th percentile

5.9%

Higher net margin than 46% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Top Officer Pay

72nd percentile

$0

Higher top officer pay than 72% of similar nonprofits.

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

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Asset Growth

86th percentile

47%

Faster asset growth than 86% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

70th percentile

25%

Faster revenue growth than 70% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Annualized from 2020 to 2021

Assets

Up

$71,248

Up $22,894 (+47%) from 2020

Net Assets

Up

$69,354

Up $22,490 (+48%) from 2020

Liabilities

Up

$1,894

Up $404 (+27%) from 2020

Revenue

Up

$381,320

Up $75,505 (+25%) from 2020

Expenses

Up

$358,830

Up $12,218 (+3.5%) from 2020

Net Income

Up

$22,490

Up $63,287 (+155%) from 2020

Historical Trend

Balance Sheet Trend

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

$200K$100K$0-$100K-$200KAssets 2011: $10,050Liabilities 2011: $158,452Net Assets 2011: -$148,4022011Assets 2012: $15,004Liabilities 2012: $137,331Net Assets 2012: -$122,3272012Assets 2013: $20,830Liabilities 2013: $114,002Net Assets 2013: -$93,1722013Assets 2014: $29,418Liabilities 2014: $82,123Net Assets 2014: -$52,7052014Assets 2015: $41,390Liabilities 2015: $57,402Net Assets 2015: -$16,0122015Assets 2016: $65,060Liabilities 2016: $20,638Net Assets 2016: $44,4222016Assets 2017: $125,805Liabilities 2017: $1,362Net Assets 2017: $124,4432017Assets 2018: $112,259Liabilities 2018: $2,529Net Assets 2018: $109,7302018Assets 2019: $89,865Liabilities 2019: $2,204Net Assets 2019: $87,6612019Assets 2020: $48,354Liabilities 2020: $1,490Net Assets 2020: $46,8642020Assets 2021: $71,248Liabilities 2021: $1,894Net Assets 2021: $69,3542021Assets 2022: $56,391Liabilities 2022: $1,495Net Assets 2022: $54,8962022Assets 2023: $21,791Liabilities 2023: $430Net Assets 2023: $21,3612023Assets 2024: $115,296Liabilities 2024: $1,420Net Assets 2024: $113,8762024

Highlighted filing

2021

Assets$71,248
Liabilities$1,894
Net Assets$69,354

Operations Trend

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

$600K$400K$200K$0-$200KExpenses 2011: $359,9312011Expenses 2012: $340,3542012Revenue 2013: $357,869Expenses 2013: $328,714Net Income 2013: $29,1552013Revenue 2014: $382,035Expenses 2014: $341,568Net Income 2014: $40,4672014Revenue 2015: $337,622Expenses 2015: $300,929Net Income 2015: $36,6932015Revenue 2016: $389,760Expenses 2016: $329,326Net Income 2016: $60,4342016Revenue 2017: $369,828Expenses 2017: $289,807Net Income 2017: $80,0212017Revenue 2018: $321,970Expenses 2018: $336,683Net Income 2018: -$14,7132018Revenue 2019: $378,914Expenses 2019: $400,983Net Income 2019: -$22,0692019Revenue 2020: $305,815Expenses 2020: $346,612Net Income 2020: -$40,7972020Revenue 2021: $381,320Expenses 2021: $358,830Net Income 2021: $22,4902021Revenue 2022: $335,863Expenses 2022: $350,321Net Income 2022: -$14,4582022Revenue 2023: $350,013Expenses 2023: $383,548Net Income 2023: -$33,5352023Revenue 2024: $388,469Expenses 2024: $295,954Net Income 2024: $92,5152024

Highlighted filing

2021

Revenue$381,320
Expenses$358,830
Net Income$22,490
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Oct 14, 2022
Return Version
2021v4.0
Gross Receipts
$381,320
Mission and Program Overview

Mission

TO PROMOTE THE ECONOMIC HEALTH OF McHENRY COUNTY, IL THROUGH RETENTION, EXPANSION AND ATTRACTION OF COMMERCE AND INDUSTRY WHICH IS CONDUCIVE TO AN OPTIMAL QUALITY OF LIFE FOR ITS CITIZEN

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$43,503$69,268▲ $25,765
Land, Buildings, and Equipment, Net$4,851$1,980▼ $2,871
Savings and Temporary Cash Investments-$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-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$48,354$71,248▲ $22,894
Other Assets Total-$0-
Liabilities
Other Liabilities$1,490$1,894▲ $404
Total Liabilities$1,490$1,894▲ $404
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$46,864$69,354▲ $22,490
Total Net Assets Fund Balance$46,864$69,354▲ $22,490
Total Liabilities and Net Assets / Fund Balance$48,354$71,248▲ $22,894

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,980$23,561$25,541
Compensation and Service Providers

Board Members and Trustees

NameTitle
Brad HeldtChairman
JAMES McCONOUGHEYPresident
Jim RingnessVice Chairman
Dave JohnsonVice President
Colleen RoosDirector
David OverbeekeDirector
Dr Clinton GabbardDirector
Heather MaieritschDirector
JOHN McCANNDirector
Jeni HallattDirector
Jill DinsmoreDirector
Mary Margaret MauleDirector
Michael SkalaDirector
Peter AustinDirector
Richard MackDirector
Stephen BallotSecretary
Keith HoganTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$298,075
Program Service Revenue
$83,245
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$22,490
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$253,835
Other Expenses$63,995
Total Fundraising Expense$30,481
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$96,523-$20,035$116,558
Current Officers, Directors, Trustees, and Key Employees$85,418$27,723$3,263$116,404
Benefits to Members$41,000--$41,000
Payroll Taxes$15,524$913$1,826$18,263
Fees for Services Other$12,505$2,219$486$15,209
Occupancy$9,380$552$1,104$11,036
Information Technology$6,317$902$1,805$9,024
Advertising$5,919$846$1,691$8,456
Office Expenses$3,631$3,631-$7,262
Depreciation Depletion-$2,871-$2,871
Insurance-$2,710-$2,710
Pension Plan Contributions$2,219$131$260$2,610
Fees for Services Accounting-$700-$700
Other Expenses$1,825$454-$454
All Other Expenses$243$190$11$444
Travel$243$172-$415
Conferences and Meetings$388--$388
Total Functional Expenses$283,702$44,648$30,481$358,830
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
Credit Cards Payable$1,894
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
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, Part VI, Line 11B: Form 990 Review Process

The Independent Accounting Firm provides the Presdient and Treasurer with a draft of the Form 990 to review. Barring any corrections, or after it is corrected, the final draft of the Form 990 is presented for approval to the Board of Directors at a regularly scheduled meeding. Once the approval of the Board is obtained, the Form 990 is submitted prior to the deadline.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

All Board Members receive an orientation upon election to the board. This orientation includes a review of the Bylaws, Article VIII specifically addressing conflict of interest. It is understood that in order to make the MCEDC a strong and viable force, Corporate Board Members and Committee Members will consist of successful and prominent individuals in both the private and public sectors. As a result, it is understood that the appointee may now or in the future have an apparent conflict of interest with the stated purpose of the Corporation or the policies or recommendations thereof. Therefore, those Corporation Board members who feel that there may be a conflict in the Representation of a Client's interest on a particular issue being considered, while serving on the the Board or committee, shall inform all Corporation Board Members in writing of said Conflict and shall not take part in any vote on such matter which gives rise to said conflict.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The Officers of the Corporation meet to discuss salaries during the budget process. Organizational circumstances also may dictate adjustments, ie new responsibilities, change of responsibilities, etc. The officers have use of current industry standard wage, salary and benefit surveys for comparison and guidance.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

The Officers of the Corporation meet to discuss salaries during the budget process. Organizational circumstances also may dictate adjustments, ie new responsibilities, change of responsibilities, etc. The officers have use of current industry standard wage, salary and benefit surveys for comparison and guidance.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Mchenry County Economic Development
EIN
36-3849857
Phone
8158930895
Address
620 DAKOTA STREET, CRYSTAL LAKE, IL 60012

Signing Officer

Name
Brad Heldt
Title
Chairman
Signed
2022-10-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brad Heldt
Formed
1992
Legal Domicile
Il
Voting Board Members
17
Independent Board Members
17
Employees
4
Volunteers
26

Preparer

Firm
George Roach & Assoc Pc
Address
44 N WALKUP AVE, CRYSTAL LAKE, IL 60014
Preparer
George Roach CPA
Phone
8154590700
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/TitleTxt0Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt1Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt2Vice Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt3Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15President
IRS990/Form990PartVIISectionAGrp/TitleTxt16Vice President
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr01992
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedInd0false
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt017
IRS990/GovernmentGrantsAmt0206800
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt00
IRS990/GrantsToDomesticOrgsGrp/TotalAmt00
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt0381320
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt00
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt017
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/FundraisingAmt01805
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt0902
IRS990/InformationTechnologyGrp/ProgramServicesAmt06317
IRS990/InformationTechnologyGrp/TotalAmt09024
IRS990/InsuranceGrp/ManagementAndGeneralAmt02710
IRS990/InsuranceGrp/TotalAmt02710
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/TotalAmt00
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt00
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt00
IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt023561
IRS990/LandBldgEquipBasisNetGrp/BOYAmt04851
IRS990/LandBldgEquipBasisNetGrp/EOYAmt01980
IRS990/LandBldgEquipCostOrOtherBssAmt025541
IRS990/LegalDomicileStateCd0IL
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembershipDuesAmt091275
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO PROMOTE THE ECONOMIC HEALTH OF McHENRY COUNTY, IL THROUGH RETENTION, EXPANSION AND ATTRACTION OF COMMERCE AND INDUSTRY WHICH IS CONDUCIVE TO AN OPTIMAL QUALITY OF LIFE FOR ITS CITIZEN
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt046864
IRS990/NetAssetsOrFundBalancesEOYAmt069354
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt046864
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt069354
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/FundraisingAmt01104
IRS990/OccupancyGrp/ManagementAndGeneralAmt0552
IRS990/OccupancyGrp/ProgramServicesAmt09380
IRS990/OccupancyGrp/TotalAmt011036
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt03631
IRS990/OfficeExpensesGrp/ProgramServicesAmt03631
IRS990/OfficeExpensesGrp/TotalAmt07262
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0EQUIPMENT LEASE
IRS990/OtherExpensesGrp/Desc1Dues & Memberships
IRS990/OtherExpensesGrp/Desc2AWARDS
IRS990/OtherExpensesGrp/Desc3Postage and Shipping
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0634
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1454
IRS990/OtherExpensesGrp/ProgramServicesAmt02567
IRS990/OtherExpensesGrp/ProgramServicesAmt11825
IRS990/OtherExpensesGrp/TotalAmt02567
IRS990/OtherExpensesGrp/TotalAmt11825
IRS990/OtherExpensesGrp/TotalAmt2634
IRS990/OtherExpensesGrp/TotalAmt3454
IRS990/OtherLiabilitiesGrp/BOYAmt01490
IRS990/OtherLiabilitiesGrp/EOYAmt01894
IRS990/OtherRevenueMiscGrp/Desc0MISC REVENUE
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt020035
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt096523
IRS990/OtherSalariesAndWagesGrp/TotalAmt0116558
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/FundraisingAmt01826
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0913
IRS990/PayrollTaxesGrp/ProgramServicesAmt015524
IRS990/PayrollTaxesGrp/TotalAmt018263
IRS990/PensionPlanContributionsGrp/FundraisingAmt0260
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0131
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt02219
IRS990/PensionPlanContributionsGrp/TotalAmt02610
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0BRAD HELDT
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0541900
IRS990/ProgramServiceRevenueGrp/BusinessCd1541900
IRS990/ProgramServiceRevenueGrp/Desc0ANNUAL MEETING
IRS990/ProgramServiceRevenueGrp/Desc1CEO PEER GROUP
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt056245
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt127000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt056245
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt127000
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt012465
IRS990/PYContributionsGrantsAmt0281365
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt068937
IRS990/PYOtherRevenueAmt03000
IRS990/PYProgramServiceRevenueAmt021450
IRS990/PYRevenuesLessExpensesAmt0-40797
IRS990/PYSalariesCompEmpBnftPaidAmt0265210
IRS990/PYTotalExpensesAmt0346612
IRS990/PYTotalRevenueAmt0305815
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt022490
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt01980
IRS990ScheduleD/EquipmentGrp/DepreciationAmt023561
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt025541
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01894
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CREDIT CARDS PAYABLE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01980
IRS990ScheduleD/TotalLiabilityAmt01894
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Independent Accounting Firm provides the Presdient and Treasurer with a draft of the Form 990 to review. Barring any corrections, or after it is corrected, the final draft of the Form 990 is presented for approval to the Board of Directors at a regularly scheduled meeding. Once the approval of the Board is obtained, the Form 990 is submitted prior to the deadline.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All Board Members receive an orientation upon election to the board. This orientation includes a review of the Bylaws, Article VIII specifically addressing conflict of interest. It is understood that in order to make the MCEDC a strong and viable force, Corporate Board Members and Committee Members will consist of successful and prominent individuals in both the private and public sectors. As a result, it is understood that the appointee may now or in the future have an apparent conflict of interest with the stated purpose of the Corporation or the policies or recommendations thereof. Therefore, those Corporation Board members who feel that there may be a conflict in the Representation of a Client's interest on a particular issue being considered, while serving on the the Board or committee, shall inform all Corporation Board Members in writing of said Conflict and shall not take part in any vote on such matter which gives rise to said conflict.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Officers of the Corporation meet to discuss salaries during the budget process. Organizational circumstances also may dictate adjustments, ie new responsibilities, change of responsibilities, etc. The officers have use of current industry standard wage, salary and benefit surveys for comparison and guidance.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Officers of the Corporation meet to discuss salaries during the budget process. Organizational circumstances also may dictate adjustments, ie new responsibilities, change of responsibilities, etc. The officers have use of current industry standard wage, salary and benefit surveys for comparison and guidance.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.15$0.01$1.14$3.88$2.96$0.93
2023Detailed filing. Detailed filing data is available for this year.$0.22$0.00$0.21$3.50$3.84$0.34
2022Detailed filing. Detailed filing data is available for this year.$0.56$0.01$0.55$3.36$3.50$0.14
2021Detailed filing. Detailed filing data is available for this year.$0.71$0.02$0.69$3.81$3.59$0.22
2020Detailed filing. Detailed filing data is available for this year.$0.48$0.01$0.47$3.06$3.47$0.41
2019Detailed filing. Detailed filing data is available for this year.$0.90$0.02$0.88$3.79$4.01$0.22
2018Detailed filing. Detailed filing data is available for this year.$1.12$0.03$1.10$3.22$3.37$0.15
2017Detailed filing. Detailed filing data is available for this year.$1.26$0.01$1.24$3.70$2.90$0.80
2016Detailed filing. Detailed filing data is available for this year.$0.65$0.21$0.44$3.90$3.29$0.60
2015Detailed filing. Detailed filing data is available for this year.$0.41$0.57$0.16$3.38$3.01$0.37
2014Detailed filing. Detailed filing data is available for this year.$0.29$0.82$0.53$3.82$3.42$0.40
2013Detailed filing. Detailed filing data is available for this year.$0.21$1.14$0.93$3.58$3.29$0.29
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.15$1.37$1.22$3.40
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.10$1.58$1.48$3.60
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2021 filings • 501(c)6 • <$500k nonprofits