Civic Intelligence

Illinois Business and Economic Development Corp DBA Illinois Economic D

EIN 81-1265157 • 501(c)3 • Chicago, IL

Profile

Business development for the state of illinois.

230 W Monroe Street 330Chicago, IL 60606

intersectillinois.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

61st percentile

0.22x

Higher debt load relative to assets than 61% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Liabilities / Revenue

46th percentile

0.13x

Higher debt load relative to revenue than 46% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Net Margin

73rd percentile

20%

Higher net margin than 73% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Top Officer Pay

85th percentile

$275,000

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 3.4% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Asset Growth

93rd percentile

60%

Faster asset growth than 93% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2024 to 2025

Revenue Growth

58th percentile

11%

Faster revenue growth than 58% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets61st percentile

Assets

Up

$4,917,684

Up $1,844,479 (+60%) from 2024

Liabilities

Up

$1,075,298

Up $235,964 (+28%) from 2024

Net Assets

Up

$3,842,386

Up $1,608,515 (+72%) from 2024

Operations
Liabilities / Revenue46th percentileNet Margin73rd percentile

Revenue

Up

$8,164,220

Up $820,659 (+11%) from 2024

Expenses

Up

$6,555,705

Up $54,816 (+0.8%) from 2024

Net Income

Up

$1,608,515

Up $765,843 (+91%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth93rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2016: $143,675Liabilities 2016: $34,121Net Assets 2016: $109,5542016Assets 2017: $861,794Liabilities 2017: $64,229Net Assets 2017: $797,5652017Assets 2018: $1,507,603Liabilities 2018: $50,955Net Assets 2018: $1,456,6482018Assets 2019: $872,827Liabilities 2019: $93,415Net Assets 2019: $779,4122019Assets 2020: $699,937Liabilities 2020: $154,634Net Assets 2020: $545,3032020Assets 2021: $1,437,626Liabilities 2021: $616,124Net Assets 2021: $821,5022021Assets 2022: $1,596,602Liabilities 2022: $26,383Net Assets 2022: $1,570,2192022Assets 2023: $1,841,889Liabilities 2023: $450,690Net Assets 2023: $1,391,1992023Assets 2024: $3,073,205Liabilities 2024: $839,334Net Assets 2024: $2,233,8712024Assets 2025: $4,917,684Liabilities 2025: $1,075,298Net Assets 2025: $3,842,3862025

Highlighted filing

2025

Assets$4,917,684
Liabilities$1,075,298
Net Assets$3,842,386
Open 2025 Filing

Operations Trend

Revenue Growth58th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2016: $372,517Expenses 2016: $262,963Net Income 2016: $109,5542016Revenue 2017: $2,863,062Expenses 2017: $2,175,051Net Income 2017: $688,0112017Revenue 2018: $2,821,569Expenses 2018: $2,162,486Net Income 2018: $659,0832018Revenue 2019: $1,384,388Expenses 2019: $2,061,624Net Income 2019: -$677,2362019Revenue 2020: $1,407,861Expenses 2020: $1,641,970Net Income 2020: -$234,1092020Revenue 2021: $1,743,434Expenses 2021: $1,467,235Net Income 2021: $276,1992021Revenue 2022: $3,788,084Expenses 2022: $3,039,367Net Income 2022: $748,7172022Revenue 2023: $4,048,933Expenses 2023: $4,227,953Net Income 2023: -$179,0202023Revenue 2024: $7,343,561Expenses 2024: $6,500,889Net Income 2024: $842,6722024Revenue 2025: $8,164,220Expenses 2025: $6,555,705Net Income 2025: $1,608,5152025

Highlighted filing

2025

Revenue$8,164,220
Expenses$6,555,705
Net Income$1,608,515
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,917,684
Liabilities
$1,075,298
Net assets
$3,842,386
Revenue
$8,164,220
Expenses
$6,555,705
Net income
$1,608,515
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.92$1.08$3.84$8.16$6.56$1.61
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.07$0.84$2.23$7.34$6.50$0.84
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.84$0.45$1.39$4.05$4.23$0.18
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.60$0.03$1.57$3.79$3.04$0.75
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.44$0.62$0.82$1.74$1.47$0.28
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.70$0.15$0.55$1.41$1.64$0.23
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.87$0.09$0.78$1.38$2.06$0.68
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.51$0.05$1.46$2.82$2.16$0.66
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.86$0.06$0.80$2.86$2.18$0.69
2016Detailed filing. Detailed filing data is available for this year.$0.14$0.03$0.11$0.37$0.26$0.11
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Feb 12, 2026
Return Version
2024v5.5
Gross Receipts
$8,171,573
Mission and Program Overview

Mission

To bring new jobs, investment and economic prosperity to the state of illinois through dynamic partnerships and collaborations with companies, universities, non-for-profit organizations and the government to deliver a unified approach to economic development.

Business development for the state of illinois.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$875,313$3,384,018▲ $2,508,705
Pledges and Grants Receivable$1,704,648$826,350▼ $878,298
Accounts Receivable$177,214$380,004▲ $202,790
Prepaid Expenses and Deferred Charges$144,789$237,443▲ $92,654
Land, Buildings, and Equipment, Net$17,153$7,479▼ $9,674
Intangible Assets$0$0→ $0
Total Assets$3,073,205$4,917,684▲ $1,844,479
Other Assets Total$154,088$82,390▼ $71,698
Liabilities
Unsecured Notes Loans Payable$658,644$646,544▼ $12,100
Accounts Payable and Accrued Expenses$16,397$346,895▲ $330,498
Other Liabilities$164,293$81,859▼ $82,434
Total Liabilities$839,334$1,075,298▲ $235,964
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,233,871$3,842,386▲ $1,608,515
Total Net Assets Fund Balance$2,233,871$3,842,386▲ $1,608,515
Total Liabilities and Net Assets / Fund Balance$3,073,205$4,917,684▲ $1,844,479

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,479$99,172$106,651
Compensation and Service Providers
Top Officer Pay85th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Christy GeorgeChief Execeutive OfficerFT$275,000$275,000
Daniel SealsFormer Chief Executive OfficerFT$171,793$171,793
Paulina San MilianSenior VP Business DevelopmentFT$170,025$170,025
Preeti ChalsaniChief Senior VP QuantumFT$150,519$150,519
Robert StephanFormer VP of Community Relations/developmentFT$140,218$140,218
Robert StephanFormer VP of Community Relations/dev-$140,218$140,218
Kaitlyn McdermottVice President, Admin/operatingFT$124,280$124,280

Board Members and Trustees

NameTitle
John AtkinsonChairman
Brad HendersonDirector
Brett HartDirector
Brian D WolfeDirector
Carmen RossiDirector
Chip JorstadDirector
Chris GladwinDirector
Chris SmithDirector
Curt BaileyDirector
Dan MahoneyDirector
David BoulayDirector
David NamkungDirector
David ReifmanDirector
Eileen MitchellDirector
Elizabeth BuchananDirector
Gil QuinionesDirector
Gregory CaseDirector
Hardik BhattDirector
JEREMY O'BRIENDirector
Jack LavinDirector
James LeonardDirector
James Reynolds JrDirector
Jeffrey BakerDirector
Joe DominguezDirector
John HolmesDirector
John LyonsDirector
Juan LucianoDirector
Kate Waimey TimmermanDirector
Kevin WarrenDirector
Kirk DillardDirector
Kristof TerrynDirector
Lenny SinghDirector
Lisa FreemanDirector
Maria BocanegraDirector
Mark DenzlerDirector
Martin CabreraDirector
Michael FassnachtDirector
Michael JacobsonDirector
Michael ReinsdorfDirector
Michael SacksDirector
Michael SchillDirector
Michelle CarrDirector
Paul AlivisatosDirector
Pin NiDirector
Rashod JohnsonDirector
Rebecca LosliDirector
Richard DemirjianDirector
Richard PriceDirector
Robert SehringDirector
Sheila Quirk-baileyDirector
Smita N ShahDirector
Tim KilleenDirector
Wendell DallasDirector
Zaldwaynaka Z Scott EsqDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$8,164,131
Program Service Revenue
$0
Investment Income
$89
Other Revenue
$0
All Other Contributions
$2,163,111
Change in Net Assets
$1,608,515

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,164,220
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$145,750
Total Revenue per Audited Statements
$8,309,970
Total Revenue per Form 990
$8,164,220
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,333,166
Salaries, Compensation, and Employee Benefits$3,222,539
Total Fundraising Expense$363,390
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,037,268$314,348$164,584$2,516,200
Conferences and Meetings-$747,973-$747,973
All Other Expenses$91,883$412,851$1,035$505,769
Current Officers, Directors, Trustees, and Key Employees$55,000$55,000$165,000$275,000
Travel$244,802$10,481-$255,283
Other Employee Benefits$201,111$20,790$11,200$233,101
Payroll Taxes$161,264$17,381$19,593$198,238
Other Expenses$262$180,787$1,978$182,765
Information Technology$65,309$84,372-$149,681
Occupancy$58,972$19,657-$78,629
Fees for Services Accounting-$52,000-$52,000
Office Expenses$6,819$34,824-$41,643
Advertising-$40,117-$40,117
Fees for Service Investment Mgmnt Fees$12,100--$12,100
Depreciation Depletion$10,433--$10,433
Insurance-$5,045-$5,045
Fees for Services Legal-$192-$192
Total Functional Expenses$3,385,263$2,807,052$363,390$6,555,705

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,701,455
Expenses per Audited Statements$6,555,705
Total Expenses per Form 990$6,555,705
Expenses Not Reported on Form 990$145,750
Expenses Not Reported on Financial Statements$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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability (asc 842)$81,859
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
No
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, Part VI, Section B, Line 11B

“Line 11b explanation - the tax return is reviewed by the president of the organization prior to filing.”

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

“Conflicts of interest are reviewed at least annually.”

Form 990, Part VI, Section C, Line 19

“The organization's conflict of interest policy, articles of incorporation, and bylaws are available upon request.”

Filing and Contact Details

Filer

Filer Name
Illinois Business and Economic
EIN
81-1265157
Phone
3126676010
Address
230 W MONROE STREET 330, CHICAGO, IL 60606

Signing Officer

Name
Christy George
Title
CEO
Phone
3126676010
Signed
2026-02-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christy George
Formed
2016
Legal Domicile
Il
Voting Board Members
54
Independent Board Members
0
Employees
30
Volunteers
0

Preparer

Firm
Dhjj Ltd
Address
184 SHUMAN BLVD STE 200, NAPERVILLE, IL 60563
Preparer
Meaghan Figg CPA
Phone
6304201360
Raw XML AppendixShowing 400 of 914 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.

Path#Value
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IRS990/ActivityOrMissionDesc0BUSINESS DEVELOPMENT FOR THE STATE OF ILLINOIS.
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IRS990/BooksInCareOfDetail/PhoneNum03126676010
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IRS990/Form990PartVIISectionAGrp/PersonNm3ROBERT SEHRING
IRS990/Form990PartVIISectionAGrp/PersonNm4JAMES LEONARD
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IRS990/Form990PartVIISectionAGrp/PersonNm13JOE DOMINGUEZ
IRS990/Form990PartVIISectionAGrp/PersonNm14CURT BAILEY
IRS990/Form990PartVIISectionAGrp/PersonNm15MICHAEL FASSNACHT
IRS990/Form990PartVIISectionAGrp/PersonNm16MARK DENZLER
IRS990/Form990PartVIISectionAGrp/PersonNm17JOHN LYONS
IRS990/Form990PartVIISectionAGrp/PersonNm18ZALDWAYNAKA Z SCOTT ESQ
IRS990/Form990PartVIISectionAGrp/PersonNm19JACK LAVIN
IRS990/Form990PartVIISectionAGrp/PersonNm20BRAD HENDERSON
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IRS990/Form990PartVIISectionAGrp/PersonNm26GIL QUINIONES
IRS990/Form990PartVIISectionAGrp/PersonNm27TIM KILLEEN
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IRS990/Form990PartVIISectionAGrp/PersonNm30ELIZABETH BUCHANAN
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