Civic Intelligence

Bloomington Normal Economic Development Council

990 • Fiscal year 2019 • EIN 37-1169886

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 03, 2020

Organization ProfileWWW.BNBIZ.ORG
200 West College Avenue 402Normal, IL 61761

(309) 452-8437

Siviq Scores

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

Liabilities / Assets

47th percentile

0.05x

Higher debt load relative to assets than 47% of similar nonprofits.

2019 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

47th percentile

0.05x

Higher debt load relative to revenue than 47% of similar nonprofits.

2019 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2019

Net Margin

66th percentile

8.7%

Higher net margin than 66% of similar nonprofits.

2019 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

66th percentile

$90,634

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 11.2% of source-year revenue.

2019 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2019

Asset Growth

67th percentile

12%

Faster asset growth than 67% of similar nonprofits.

2019 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

7th percentile

-21%

Faster revenue growth than 7% of similar nonprofits.

2019 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets47th percentile

Assets

Up

$748,269

Up $78,339 (+12%) from 2018

Net Assets

Up

$711,760

Up $70,233 (+11%) from 2018

Liabilities

Up

$36,509

Up $8,106 (+29%) from 2018

Revenue And Expenses
Liabilities / Revenue47th percentileNet Margin66th percentile

Revenue

Down

$808,001

Down $217,900 (-21%) from 2018

Expenses

Down

$737,768

Down $102,344 (-12%) from 2018

Net Income

Down

$70,233

Down $115,556 (-62%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth67th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $1,503,977Liabilities 2011: $21,408Net Assets 2011: $1,482,5692011Assets 2012: $1,827,802Liabilities 2012: $18,434Net Assets 2012: $1,809,3682012Assets 2013: $1,669,671Liabilities 2013: $28,104Net Assets 2013: $1,641,5672013Assets 2014: $1,252,197Liabilities 2014: $54,955Net Assets 2014: $1,197,2422014Assets 2015: $985,944Liabilities 2015: $87,021Net Assets 2015: $898,9232015Assets 2016: $618,104Liabilities 2016: $46,044Net Assets 2016: $572,0602016Assets 2017: $516,471Liabilities 2017: $60,733Net Assets 2017: $455,7382017Assets 2018: $669,930Liabilities 2018: $28,403Net Assets 2018: $641,5272018Assets 2019: $748,269Liabilities 2019: $36,509Net Assets 2019: $711,7602019Assets 2020: $1,197,082Liabilities 2020: $49,334Net Assets 2020: $1,147,7482020Assets 2021: $1,349,335Liabilities 2021: $49,326Net Assets 2021: $1,300,0092021Assets 2022: $1,341,348Liabilities 2022: $131,466Net Assets 2022: $1,209,8822022Assets 2023: $1,057,647Liabilities 2023: $150,741Net Assets 2023: $906,9062023Assets 2024: $889,820Liabilities 2024: $194,694Net Assets 2024: $695,1262024

Highlighted filing

2019

Assets$748,269
Liabilities$36,509
Net Assets$711,760
Open 2019 Filing

Operations Trend

Revenue Growth7th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2011: $924,3162011Expenses 2012: $701,5672012Revenue 2013: $522,389Expenses 2013: $690,190Net Income 2013: -$167,8012013Revenue 2014: $492,409Expenses 2014: $936,734Net Income 2014: -$444,3252014Revenue 2015: $549,601Expenses 2015: $847,920Net Income 2015: -$298,3192015Revenue 2016: $679,460Expenses 2016: $1,006,323Net Income 2016: -$326,8632016Revenue 2017: $816,043Expenses 2017: $932,365Net Income 2017: -$116,3222017Revenue 2018: $1,025,901Expenses 2018: $840,112Net Income 2018: $185,7892018Revenue 2019: $808,001Expenses 2019: $737,768Net Income 2019: $70,2332019Revenue 2020: $1,149,476Expenses 2020: $713,488Net Income 2020: $435,9882020Revenue 2021: $930,075Expenses 2021: $777,817Net Income 2021: $152,2582021Revenue 2022: $981,896Expenses 2022: $1,072,023Net Income 2022: -$90,1272022Revenue 2023: $742,304Expenses 2023: $1,056,780Net Income 2023: -$314,4762023Revenue 2024: $1,063,313Expenses 2024: $1,275,093Net Income 2024: -$211,7802024

Highlighted filing

2019

Revenue$808,001
Expenses$737,768
Net Income$70,233
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 3, 2020
Return Version
2019v5.0
Gross Receipts
$808,001
Mission and Program Overview

Mission

The economic development council helps businesses in mclean county grow and attracts new business to the community. The edc is a leadership organization, investing in the community's assets to grow and improve the prosperity and quality of life.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$653,149$725,970▲ $72,821
Land, Buildings, and Equipment, Net$8,505$17,111▲ $8,606
Prepaid Expenses and Deferred Charges$3,088--
Total Assets$669,930$748,269▲ $78,339
Other Assets Total$5,188$5,188→ $0
Liabilities
Accounts Payable and Accrued Expenses$26,378$32,509▲ $6,131
Other Liabilities-$4,000-
Deferred Revenue$2,025--
Total Liabilities$28,403$36,509▲ $8,106
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$585,912$711,760▲ $125,848
Net Assets With Donor Restrictions$55,615--
Total Net Assets Fund Balance$641,527$711,760▲ $70,233
Total Liabilities and Net Assets / Fund Balance$669,930$748,269▲ $78,339

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$16,337$66,325$82,662
Equipment$774$19,371$20,145
Compensation and Service Providers
Top Officer Pay66th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Patrick HobanCEOFT$70,615$20,019$90,634
MIKE O'GRADYInterim CEOFT$70,191$6,420$76,611

Board Members and Trustees

NameTitle
John HesseChair
Jared HallPast Chair
Bill LawrenceVice Chair
Camille RodriguezBoard Member
Chris KoosBoard Member
Eric JensenBoard Member
Jeff FritzenBoard Member
John McintyreBoard Member
Leann SealBoard Member
Lynn FultonBoard Member
Mary Bennett HenrichsBoard Member
Nick GrojeanBoard Member
Pam ReeceBoard Member
Puneet LeekhaBoard Member
Tari RennerBoard Member
Tim GleasonBoard Member
Tom GoodBoard Member
Tony PennBoard Member
Aaron QuickSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$672,544
Program Service Revenue
$50,718
Investment Income
$1,252
Other Revenue
$83,487
All Other Contributions
$672,544
Change in Net Assets
$70,233

Audited Revenue Reconciliation

Revenue per Audited Statements
$808,001
Total Revenue per Audited Statements
$808,001
Total Revenue per Form 990
$808,001
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$377,921
Salaries, Compensation, and Employee Benefits$359,847
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$133,796$33,449-$167,245
Other Salaries and Wages$67,586$63,917-$131,503
Office Expenses$61,100$6,893-$67,993
Occupancy$41,325$7,293-$48,618
Travel$31,288$5,521-$36,809
Other Employee Benefits$22,340$12,826-$35,166
Payroll Taxes$16,986$8,947-$25,933
Fees for Services Accounting$19,420$4,855-$24,275
Conferences and Meetings$13,934$3,484-$17,418
Other Expenses$9,909$1,749-$11,658
All Other Expenses$9,369$1,261-$10,630
Depreciation Depletion$2,810$497-$3,307
Total Functional Expenses$578,898$158,870$0$737,768

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$737,768
Total Expenses per Audited Statements$737,768
Total Expenses per Form 990$737,768
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Others$4,000
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“990 is provided to the board of directors for approval prior to filing”

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

“The edc regularly and consistently monitored and enforced compliance with its conflicts policy”

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

“Ceo salary determined by the board of directors' executive committee based on comparable data. This review takes place annually.”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Bloomington Normal Economic
EIN
37-1169886
Phone
3094528437
Address
200 WEST COLLEGE AVENUE 402, NORMAL, IL 61761

Signing Officer

Name
Patrick Hoban
Title
CEO
Phone
3094528437
Signed
2020-08-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Patrick Hoban
Voting Board Members
16
Independent Board Members
16
Employees
5

Preparer

Firm
Mck Cpas & Advisors
Address
1353 E MOUND RD SUITE 300, DECATUR, IL 62526
Preparer
Craig T Negangard
Phone
2178752655
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The economic development council helps businesses in mclean county grow and attracts new business to the community. The edc is a leadership organization, investing in the community's assets to grow and improve the prosperity and quality of life.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD MEMBER
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IRS990/MissionDesc0THE ECONOMIC DEVELOPMENT COUNCIL HELPS BUSINESSES IN MCLEAN COUNTY GROW AND ATTRACTS NEW BUSINESS TO THE COMMUNITY. THE EDC IS A LEADERSHIP ORGANIZATION, INVESTING IN THE COMMUNITY'S ASSETS TO GROW AND IMPROVE THE PROSPERITY AND QUALITY OF LIFE.
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IRS990/PrincipalOfficerNm0PATRICK HOBAN
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgramServiceRevenueGrp/Desc1OTHER PROGRAM REVENUE
IRS990/ProgramServiceRevenueGrp/Desc2COMMUNITY LEADERS DINNER
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ECONOMIC DEVELOPMENT COUNCIL HELPS BUSINESSES IN MCLEAN COUNTY GROW AND ATTRACTS NEW BUSINESS TO THE COMMUNITY. THE EDC IS A LEADERSHIP ORGANIZATION, INVESTING IN THE COMMUNITY'S ASSETS TO GROW AND IMPROVE THE PROSPERITY AND QUALITY OF LIFE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1990 IS PROVIDED TO THE BOARD OF DIRECTORS FOR APPROVAL PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EDC REGULARLY AND CONSISTENTLY MONITORED AND ENFORCED COMPLIANCE WITH ITS CONFLICTS POLICY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CEO SALARY DETERMINED BY THE BOARD OF DIRECTORS' EXECUTIVE COMMITTEE BASED ON COMPARABLE DATA. THIS REVIEW TAKES PLACE ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0ECONOMIC D
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0IL

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$748,269
Liabilities
$36,509
Net assets
$711,760
Revenue
$808,001
Expenses
$737,768
Net income
$70,233
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.89$0.19$0.70$1.06$1.28$0.21
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.06$0.15$0.91$0.74$1.06$0.31
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.34$0.13$1.21$0.98$1.07$0.09
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.35$0.05$1.30$0.93$0.78$0.15
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.20$0.05$1.15$1.15$0.71$0.44
2019Detailed filing. Detailed filing data is available for this year.$0.75$0.04$0.71$0.81$0.74$0.07
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.67$0.03$0.64$1.03$0.84$0.19
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.52$0.06$0.46$0.82$0.93$0.12
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.62$0.05$0.57$0.68$1.01$0.33
2015Detailed filing. Detailed filing data is available for this year.$0.99$0.09$0.90$0.55$0.85$0.30
2014Detailed filing. Detailed filing data is available for this year.$1.25$0.05$1.20$0.49$0.94$0.44
2013Detailed filing. Detailed filing data is available for this year.$1.67$0.03$1.64$0.52$0.69$0.17
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.83$0.02$1.81$0.70
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.50$0.02$1.48$0.92