Civic Intelligence

Project First Rate

990 • Fiscal year 2022 • EIN 80-0906394

Jun 01, 2021 to May 31, 2022 • Filed on Apr 14, 2023

111 S Madison StRockford, IL 61104

(815) 226-1764

Siviq Scores

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

Liabilities / Assets

54th percentile

0.01x

Higher debt load relative to assets than 54% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

52nd percentile

0.01x

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

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Net Margin

76th percentile

18%

Higher net margin than 76% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Top Officer Pay

92nd percentile

$72,620

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 30.4% of source-year revenue.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Asset Growth

84th percentile

29%

Faster asset growth than 84% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

72nd percentile

37%

Faster revenue growth than 72% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Annualized from 2021 to 2022

Assets

Up

$186,327

Up $42,096 (+29%) from 2021

Net Assets

Up

$184,580

Up $41,849 (+29%) from 2021

Liabilities

Up

$1,747

Up $247 (+16%) from 2021

Revenue

Up

$238,761

Up $63,928 (+37%) from 2021

Expenses

Up

$196,912

Up $8,023 (+4.2%) from 2021

Net Income

Up

$41,849

Up $55,905 (+398%) from 2021

Historical Trend

Balance Sheet Trend

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

$200K$150K$100K$50K$0Assets 2014: $57,083Liabilities 2014: $02014Assets 2015: $71,959Liabilities 2015: $831Net Assets 2015: $71,1282015Assets 2016: $90,104Liabilities 2016: $890Net Assets 2016: $89,2142016Assets 2017: $131,565Liabilities 2017: $925Net Assets 2017: $130,6402017Assets 2018: $147,165Liabilities 2018: $1,542Net Assets 2018: $145,6232018Assets 2019: $173,708Liabilities 2019: $2,214Net Assets 2019: $171,4942019Assets 2020: $159,589Liabilities 2020: $2,802Net Assets 2020: $156,7872020Assets 2021: $144,231Liabilities 2021: $1,500Net Assets 2021: $142,7312021Assets 2022: $186,327Liabilities 2022: $1,747Net Assets 2022: $184,5802022Assets 2023: $158,029Liabilities 2023: $2,053Net Assets 2023: $155,9762023Assets 2024: $135,528Liabilities 2024: $1,893Net Assets 2024: $133,6352024Assets 2025: $126,201Liabilities 2025: $1,950Net Assets 2025: $124,2512025

Highlighted filing

2022

Assets$186,327
Liabilities$1,747
Net Assets$184,580

Operations Trend

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

$400K$300K$200K$100K$0-$100KRevenue 2014: $92,248Expenses 2014: $35,165Net Income 2014: $57,0832014Revenue 2015: $130,170Expenses 2015: $116,125Net Income 2015: $14,0452015Revenue 2016: $128,051Expenses 2016: $109,965Net Income 2016: $18,0862016Revenue 2017: $159,104Expenses 2017: $117,678Net Income 2017: $41,4262017Revenue 2018: $173,065Expenses 2018: $158,082Net Income 2018: $14,9832018Revenue 2019: $185,178Expenses 2019: $159,307Net Income 2019: $25,8712019Revenue 2020: $188,191Expenses 2020: $202,898Net Income 2020: -$14,7072020Revenue 2021: $174,833Expenses 2021: $188,889Net Income 2021: -$14,0562021Revenue 2022: $238,761Expenses 2022: $196,912Net Income 2022: $41,8492022Revenue 2023: $264,057Expenses 2023: $292,661Net Income 2023: -$28,6042023Revenue 2024: $283,255Expenses 2024: $305,596Net Income 2024: -$22,3412024Revenue 2025: $295,209Expenses 2025: $304,593Net Income 2025: -$9,3842025

Highlighted filing

2022

Revenue$238,761
Expenses$196,912
Net Income$41,849
Jump To
Filing Snapshot
Filing Period
Jun 1, 2021 to May 31, 2022
Signed
Apr 14, 2023
Return Version
2021v4.2
Gross Receipts
$238,761
Mission and Program Overview

Mission

To promote the benefits of union labor.

Promoting the development, establishment, or expansion of industries.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$125,297$173,235▲ $47,938
Land, Buildings, and Equipment, Net$18,934$13,092▼ $5,842
Total Assets$144,231$186,327▲ $42,096
Liabilities
Other Liabilities$1,500$1,747▲ $247
Total Liabilities$1,500$1,747▲ $247
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$142,731$184,580▲ $41,849
Total Net Assets Fund Balance$142,731$184,580▲ $41,849
Total Liabilities and Net Assets / Fund Balance$144,231$186,327▲ $42,096

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,760$16,636$21,396
Leasehold Improvements$8,332$11,668$20,000
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Paul NolleyExecutive DirectorFT$72,620$72,620

Board Members and Trustees

NameTitle
Bill SpragueCo-chair
Fortunato SalamoneCo-chair
Alan GoldenBoard Member
Andy KwiatkowskiBoard Member
Brad LongBoard Member
Charles BarrettBoard Member
David AnspaughBoard Member
Jamie StanleyBoard Member
Joe MaringBoard Member
Joseph CookBoard Member
Linda MchughBoard Member
Mark SzulaBoard Member
Tim HuffBoard Member
Travis GormanBoard Member
Richard ShugaBoard Member - New
John PenneyBoard Member - Past
Keith GahlSecretary
Debra SullivanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,100
Program Service Revenue
$237,661
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,100
Change in Net Assets
$41,849

Audited Revenue Reconciliation

Revenue per Audited Statements
$238,761
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$238,761
Total Revenue per Form 990
$238,761
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$82,838
Other Expenses$72,884
Grants and Similar Amounts Paid$41,190
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$76,825
Grants to Domestic Orgs---$41,190
Occupancy---$19,414
Payroll Taxes---$6,013
Depreciation Depletion---$5,842
Office Expenses---$5,115
Advertising---$4,417
Fees for Services Accounting---$4,300
Insurance---$2,181
Conferences and Meetings---$2,168
Travel---$1,619
Other Expenses---$1,169
All Other Expenses---$200
Total Functional Expenses$0$0$0$196,912

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$196,912
Total Expenses per Audited Statements$196,912
Total Expenses per Form 990$196,912
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Growth Dimensions for Belvidere & Boone County IncBelvidere, IL501(c)6Economic Development Investment$7,500
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Withholdings Not Remitted$1,747
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
Yes
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 A, Line 8B

No committees exist with the authority to act on behalf of the governing body.

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

The form 990 is provided to the organization's executive director and treasurer for review and approval prior to its filing.

Form 990, Part VI, Section B, Line 15A

Compensation for the executive director is reviewed and approved annually by the executive board members (co-chairs, treasurer, and secretary).

Form 990, Part VI, Section C, Line 19

The governing documents and financial statements are avaialble upon request at the organization's office.

Filing and Contact Details

Filer

Filer Name
Project First Rate
EIN
80-0906394
Phone
8152261764
Address
111 S MADISON ST, ROCKFORD, IL 61104

Signing Officer

Name
Debra L Sullivan
Title
Treasurer
Phone
8152261764
Signed
2023-04-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Debra L Sullivan
Formed
2013
Legal Domicile
Il
Voting Board Members
17
Independent Board Members
17
Employees
1
Volunteers
0

Preparer

Firm
Legacy Professionals Llp
Address
4 WESTBROOK CORPORATE CTR STE 700, WESTCHESTER, IL 60154
Preparer
Brandon Wolber
Phone
3123680500
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The organization is required to evaluate its tax positions and disclose the amount of a tax liability if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by tax authorities. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

Raw XML AppendixShowing 400 of 419 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OtherExpensesGrp/Desc1WEBSITE DEVELOPMENT
IRS990/OtherExpensesGrp/Desc2SHARED SERVICE REIMBURS
IRS990/OtherExpensesGrp/Desc3DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/TotalAmt013852
IRS990/OtherExpensesGrp/TotalAmt16607
IRS990/OtherExpensesGrp/TotalAmt26000
IRS990/OtherExpensesGrp/TotalAmt31169
IRS990/OtherLiabilitiesGrp/BOYAmt01500
IRS990/OtherLiabilitiesGrp/EOYAmt01747
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt06013
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0DEBRA L SULLIVAN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0MEMBERSHIP DUES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0237661
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0237661
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt041890
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt061426
IRS990/PYOtherRevenueAmt0620
IRS990/PYProgramServiceRevenueAmt0174213
IRS990/PYRevenuesLessExpensesAmt0-14056
IRS990/PYSalariesCompEmpBnftPaidAmt071137
IRS990/PYTotalExpensesAmt0188889
IRS990/PYTotalProfFndrsngExpnsAmt014436
IRS990/PYTotalRevenueAmt0174833
IRS990/ReconcilationRevenueExpnssAmt041849
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt04760
IRS990ScheduleD/EquipmentGrp/DepreciationAmt016636
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt021396
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0196912
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt08332
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt011668
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt020000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01747
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL WITHHOLDINGS NOT REMITTED
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0238761
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS REQUIRED TO EVALUATE ITS TAX POSITIONS AND DISCLOSE THE AMOUNT OF A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY TAX AUTHORITIES. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt013092
IRS990ScheduleD/TotalExpensesPerForm990Amt0196912
IRS990ScheduleD/TotalLiabilityAmt01747
IRS990ScheduleD/TotalRevenuePerForm990Amt0238761
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0238761
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0196912
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt07500
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)6
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0NOT APPLICABLE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0ECONOMIC DEVELOPMENT INVESTMENT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0GROWTH DIMENSIONS FOR BELVIDERE & BOONE COUNTY INC
IRS990ScheduleI/RecipientTable/RecipientEIN0363196645
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0401 WHITNEY BLVD
IRS990ScheduleI/RecipientTable/USAddress/CityNm0BELVIDERE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0IL
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd061008
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0BOOK VALUE
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS CAREFULLY REVIEWS ALL REQUESTS FOR DONATIONS AND ASSISTANCE PRIOR TO THEIR APPROVAL AND DISBURSEMENT. APPROVAL IS GRANTED ONLY TO REPUTABLE INDIVIDUALS AND ORGANIZATIONS WHO HAVE SATISFIED THE BOARDS DUE DILIGENCE. THE BOARD PERFORMS NO SUBSEQUENT MONITORING OF THE USE OF DONATIONS OR ASSISTANCE. ALL RECORDS REGARDING THE DISBURSEMENT OF FUNDS ARE MAINTAINED AT THE OFFICE OF THE ORGANIZATION.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO COMMITTEES EXIST WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PROVIDED TO THE ORGANIZATION'S EXECUTIVE DIRECTOR AND TREASURER FOR REVIEW AND APPROVAL PRIOR TO ITS FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION FOR THE EXECUTIVE DIRECTOR IS REVIEWED AND APPROVED ANNUALLY BY THE EXECUTIVE BOARD MEMBERS (CO-CHAIRS, TREASURER, AND SECRETARY).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAIALBLE UPON REQUEST AT THE ORGANIZATION'S OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
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/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0144231
IRS990/TotalAssetsEOYAmt0186327
IRS990/TotalAssetsGrp/BOYAmt0144231
IRS990/TotalAssetsGrp/EOYAmt0186327
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01100
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/TotalAmt0196912
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01500
IRS990/TotalLiabilitiesEOYAmt01747
IRS990/TotalLiabilitiesGrp/BOYAmt01500
IRS990/TotalLiabilitiesGrp/EOYAmt01747
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0142731
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0184580
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt0237661
IRS990/TotalReportableCompFromOrgAmt072620
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0237661
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0238761
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0144231
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0186327
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt01619
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0111 S MADISON ST
IRS990/USAddress/CityNm0ROCKFORD
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd061104
IRS990/VotingMembersGoverningBodyCnt017
IRS990/VotingMembersIndependentCnt017
IRS990/WebsiteAddressTxt0WWW.PROJECTFIRSTRATE.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DEBRA L SULLIVAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08152261764
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-04-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PROJECT FIRST RATE
ReturnHeader/Filer/BusinessNameControlTxt0PROJ
ReturnHeader/Filer/EIN0800906394
ReturnHeader/Filer/PhoneNum08152261764
ReturnHeader/Filer/USAddress/AddressLine1Txt0111 S MADISON ST

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