Civic Intelligence

Seize the Future Development Foundation

990 • Fiscal year 2022 • EIN 36-4573388

Jul 01, 2021 to Jun 30, 2022 • Filed on May 11, 2023

Organization ProfileWWW.INVESTAURORA.ORG
43 West Galena BlvdAurora, IL 60506

(630) 256-3160

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.07x

Higher debt load relative to assets than 52% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

56th percentile

0.12x

Higher debt load relative to revenue than 56% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

48th percentile

5.9%

Higher net margin than 48% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

83rd percentile

$148,415

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 8.3% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

59th percentile

4.9%

Faster asset growth than 59% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

65th percentile

19%

Faster revenue growth than 65% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Up

$2,921,280

Up $137,362 (+4.9%) from 2021

Net Assets

Up

$2,711,901

Up $105,151 (+4.0%) from 2021

Liabilities

Up

$209,379

Up $32,211 (+18%) from 2021

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin48th percentile

Revenue

Up

$1,785,249

Up $278,711 (+19%) from 2021

Expenses

Up

$1,680,098

Up $626,270 (+59%) from 2021

Net Income

Down

$105,151

Down $347,559 (-77%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth59th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2012: $247,460Net Assets 2012: $247,4602012Assets 2013: $94,819Liabilities 2013: $18,616Net Assets 2013: $76,2032013Assets 2014: $695,263Liabilities 2014: $557Net Assets 2014: $694,7062014Assets 2016: $672,011Liabilities 2016: $26,571Net Assets 2016: $645,4402016Assets 2017: $2,195,465Liabilities 2017: $27,611Net Assets 2017: $2,167,8542017Assets 2018: $2,674,263Liabilities 2018: $23,571Net Assets 2018: $2,650,6922018Assets 2019: $2,297,920Liabilities 2019: $50,249Net Assets 2019: $2,247,6712019Assets 2020: $2,405,216Liabilities 2020: $251,176Net Assets 2020: $2,154,0402020Assets 2021: $2,783,918Liabilities 2021: $177,168Net Assets 2021: $2,606,7502021Assets 2022: $2,921,280Liabilities 2022: $209,379Net Assets 2022: $2,711,9012022Assets 2023: $3,398,655Liabilities 2023: $71,775Net Assets 2023: $3,326,8802023Assets 2024: $3,236,289Liabilities 2024: $43,834Net Assets 2024: $3,192,4552024

Highlighted filing

2022

Assets$2,921,280
Liabilities$209,379
Net Assets$2,711,901
Open 2022 Filing

Operations Trend

Revenue Growth65th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2012: $1,778Expenses 2012: $161,028Net Income 2012: -$159,2502012Revenue 2013: $4,264Expenses 2013: $175,521Net Income 2013: -$171,2572013Revenue 2014: $1,019,142Expenses 2014: $400,639Net Income 2014: $618,5032014Revenue 2016: $847,199Expenses 2016: $910,911Net Income 2016: -$63,7122016Revenue 2017: $2,515,828Expenses 2017: $993,414Net Income 2017: $1,522,4142017Revenue 2018: $1,525,060Expenses 2018: $1,042,222Net Income 2018: $482,8382018Revenue 2019: $760,138Expenses 2019: $1,163,159Net Income 2019: -$403,0212019Revenue 2020: $1,022,623Expenses 2020: $1,116,254Net Income 2020: -$93,6312020Revenue 2021: $1,506,538Expenses 2021: $1,053,828Net Income 2021: $452,7102021Revenue 2022: $1,785,249Expenses 2022: $1,680,098Net Income 2022: $105,1512022Revenue 2023: $1,988,055Expenses 2023: $1,373,076Net Income 2023: $614,9792023Revenue 2024: $804,439Expenses 2024: $964,184Net Income 2024: -$159,7452024

Highlighted filing

2022

Revenue$1,785,249
Expenses$1,680,098
Net Income$105,151
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 11, 2023
Return Version
2021v4.0
Gross Receipts
$1,785,249
Mission and Program Overview

Mission

To motivate and facilitate the revitalization and development of aurora and its downtown.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,045,335$2,520,894▲ $1,475,559
Other Notes and Loans Receivable, Net$1,118,217$279,022▼ $839,195
Accounts Receivable$9,240$18,654▲ $9,414
Land, Buildings, and Equipment, Net$3,170$2,169▼ $1,001
Prepaid Expenses and Deferred Charges$1,231$1,624▲ $393
Total Assets$2,783,918$2,921,280▲ $137,362
Other Assets Total$606,725$98,917▼ $507,808
Liabilities
Unsecured Notes Loans Payable$149,703$150,000▲ $297
Accounts Payable and Accrued Expenses$27,465$59,379▲ $31,914
Total Liabilities$177,168$209,379▲ $32,211
Net Assets / Fund Balance
Net Assets With Donor Restrictions$699,966$1,457,643▲ $757,677
Net Assets Without Donor Restrictions$1,906,784$1,254,258▼ $652,526
Total Net Assets Fund Balance$2,606,750$2,711,901▲ $105,151
Total Liabilities and Net Assets / Fund Balance$2,783,918$2,921,280▲ $137,362

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,169$2,836$5,005
Compensation and Service Providers
Top Officer Pay83rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Bryan GayPresident/ceFT$144,208$4,207$148,415
Bryan GayPresident/CEO-$144,208$4,207$148,415

Board Members and Trustees

NameTitle
Donald PilmerChairman
Nelson SantosVice Chairma
Alex LopezDirector
Brian DahlDirector
Charles DossDirector
Christine SobekDirector
Daniel DolanDirector
Dharmisth PatelDirector
Marcee BrummelDirector
Matthew WinkleDirector
Terry BohrDirector
Loretta DalyActing Presi
Melinda KruderSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$1,713,667
Program Service Revenue
$35,725
Investment Income
$26,650
Other Revenue
$9,207
All Other Contributions
$9,009
Change in Net Assets
$105,151

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,785,249
Revenue Not Reported on Form 990
$21,770
Total Revenue per Audited Statements
$1,807,019
Total Revenue per Form 990
$1,785,249
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,135,387
Salaries, Compensation, and Employee Benefits$478,211
Grants and Similar Amounts Paid$66,500
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$378,506$56,558-$435,064
Grants to Domestic Orgs$66,500--$66,500
Office Expenses$18,174$40,840-$59,014
Advertising$11,305$45,134-$56,439
Fees for Services Legal$32,454$18,305-$50,759
Insurance$3,452$42,663-$46,115
Payroll Taxes$30,068$4,493-$34,561
Fees for Services Accounting$5,955$25,388-$31,343
Conferences and Meetings$8,912$2,068-$10,980
Other Employee Benefits-$8,586-$8,586
Other Expenses$4,568$682-$5,250
Travel$2,035$271-$2,306
Depreciation Depletion-$1,001-$1,001
Total Functional Expenses$1,434,109$245,989$0$1,680,098

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,701,868
Expenses per Audited Statements$1,680,098
Total Expenses per Form 990$1,680,098
Expenses Not Reported on Form 990$21,770
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Endiro Coffe LLCAurora, IL-Building Renovation$35,000
River Breeze LLCNaperville, IL-Building Renovation$31,500
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
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
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 9

“Bryan gay 43 west galena blvd aurora, il 60506”

Form 990, Page 6, Part VI, Line 11B

“Directors review form 990 prior to signature and filing.”

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

“Each new responsible person shall be required to review a copy of the conflict of interest policy and to acknowledge in writing that he or she has done so. Each responsible person shall annually complete a disclosure form identifying any relationships, positions, or circumstances in which the responsible person is involved that he or she believes could contribute to a conflict of interest arising. The conflict of interest policy shall be reviewed annually by each member of the board of directors. Any changes to the policy shall be communicated immediately to all respoonsible persons.”

Form 990, Page 6, Part VI, Line 15A

“The directors performed a compensation survey and utilized an independent compensation consultant. The board then approved a written employment contract for the ceo.”

Form 990, Page 6, Part VI, Line 19

“All governing documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Seize the Future Development
EIN
36-4573388
Phone
6302563160
Address
43 WEST GALENA BLVD, AURORA, IL 60506
Doing Business As
Invest Aurora

Signing Officer

Name
Loretta Daly
Title
Acting President/CEO
Phone
6302563160
Signed
2023-05-11

Organization Details

Principal Officer
Loretta Daly
Formed
2005
Legal Domicile
Il
Voting Board Members
13
Independent Board Members
13
Employees
10
Volunteers
20

Preparer

Firm
WEBER & ASSOCIATES CPA'S
Address
314 N LAKE ST STE 1B, AURORA, IL 60506-4086
Preparer
Michael R Coakley
Phone
6308974500
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Assistance to local organization.”

Financial Statement Notes

Schedule D, Page 3, Part X

“Part x - fin 48 footnote the organization has adopted guidance issued by the financial accounting stards board relating to uncertain tax positions. The organization's policy is to classify income tax related interest and penalties in interest expense and other miscellaneous expneses, respectively. The tax years 2019, 2020, and 2021 for income tax returns filed in the u.s. Federal jurisdiction and the state of illinois (the organization's major tax jurisdictions) remain open and subject to examination. The organization has analyzed tax positions taken and believes that income tax filing postions would be sustained upon examination and does not anticipate any adjustments that would have a material adverse effect on the organization's financial condition, results of operations or cash flows.”

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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1ENDIRO COFFE LLC
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION HAS A GRANT COMMITTEE THAT MEETS REGULARLY TO REVIEW, APPROVE AND MONITOR GRANTS.
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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,921,280
Liabilities
$209,379
Net assets
$2,711,901
Revenue
$1,785,249
Expenses
$1,680,098
Net income
$105,151
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.24$0.04$3.19$0.80$0.96$0.16
2023Detailed filing. Detailed filing data is available for this year.$3.40$0.07$3.33$1.99$1.37$0.61
2022Detailed filing. Detailed filing data is available for this year.$2.92$0.21$2.71$1.79$1.68$0.11
2021Detailed filing. Detailed filing data is available for this year.$2.78$0.18$2.61$1.51$1.05$0.45
2020Detailed filing. Detailed filing data is available for this year.$2.41$0.25$2.15$1.02$1.12$0.09
2019Detailed filing. Detailed filing data is available for this year.$2.30$0.05$2.25$0.76$1.16$0.40
2018Detailed filing. Detailed filing data is available for this year.$2.67$0.02$2.65$1.53$1.04$0.48
2017Detailed filing. Detailed filing data is available for this year.$2.20$0.03$2.17$2.52$0.99$1.52
2016Detailed filing. Detailed filing data is available for this year.$0.67$0.03$0.65$0.85$0.91$0.06
2014Detailed filing. Detailed filing data is available for this year.$0.70$0.00$0.69$1.02$0.40$0.62
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.09$0.02$0.08$0.00$0.18$0.17
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.25$0.25$0.00$0.16$0.16