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← ROCK RIVER DEVELOPMENT PARTNERSHIP INC

Form 990 for tax year 2024

Filed by ROCK RIVER DEVELOPMENT PARTNERSHIP INC.

Totals

Total revenue
$1,025,560
Total expenses
$980,442
Contributions and grants received
$529,871
Grants paid
$200,000
Program service revenue
$256,500
Investment income
$45,308
Other revenue
$193,881
Total assets, end of year
$7,157,229
Total liabilities, end of year
$2,942,034
Net assets or fund balances, end of year
$4,215,195
Program services expenses (Part IX)
$623,124
Management and general expenses
$273,192
Fundraising expenses
$84,126
Program service expenses (Part III)
$623,124

Program services were 63.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $300,000

  • 1f · All other contributions, gifts and grants

    $229,871

  • 2a · Program service revenue: INDOOR MARKET

    total $180,920 · related or exempt $180,920

  • 2b · Program service revenue: VENDOR FEES

    total $75,580 · related or exempt $75,580

  • 3 · Investment income

    total $45,308 · excluded $45,308

  • 10a · Gross sales of inventory

    $111,811

  • 10b · Cost of goods sold

    $50,906

  • 10c · Net income from sales of inventory

    total $60,905 · excluded $60,905

  • 11a · Other revenue: OTHER INCOME

    total $132,976 · related or exempt $132,976

  • 11e · Other revenue, total

    $132,976

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $200,000 · program services $200,000

  • 5 · Compensation of officers, directors and key employees

    total $86,814 · program services $26,044 · management and general $43,407 · fundraising $17,363

  • 7 · Other salaries and wages

    total $122,241 · program services $36,672 · management and general $61,121 · fundraising $24,448

  • 9 · Other employee benefits

    total $615 · management and general $615

  • 10 · Payroll taxes

    total $18,180 · program services $5,454 · management and general $9,090 · fundraising $3,636

  • 11b · Fees: legal

    total $27,349 · management and general $27,349

  • 11c · Fees: accounting

    total $82,460 · program services $24,224 · management and general $58,236

  • 12 · Advertising and promotion

    total $9,084 · fundraising $9,084

  • 13 · Office expenses

    total $19,743 · program services $6,099 · management and general $9,578 · fundraising $4,066

  • 14 · Information technology

    total $8,578 · program services $8,578

  • 16 · Occupancy

    total $13,628 · program services $13,628

  • 17 · Travel

    total $891 · program services $891

  • 20 · Interest

    total $108,823 · program services $108,823

  • 22 · Depreciation, depletion and amortization

    total $1,698 · management and general $1,698

  • 23 · Insurance

    total $40,009 · program services $40,009

  • 24a · Other expenses: INDOOR MARKET

    total $127,217 · program services $127,217

  • 24b · Other expenses: NEW MARKET TAX CREDIT E

    total $62,098 · management and general $62,098

  • 24c · Other expenses: PERMITS

    total $3,997 · program services $3,997

  • 24e · All other expenses

    total $47,017 · program services $21,488 · fundraising $25,529

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $150,857 · end of year $230,790

  • 3 · Pledges and grants receivable

    beginning of year $2,205,257 · end of year $2,114,080

  • 7 · Other notes and loans receivable

    beginning of year $4,530,800 · end of year $4,712,206

  • 10a · Land, buildings and equipment: cost or other basis

    $101,851

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,698

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $100,153

  • 12 · Investments: other securities

    beginning of year -$149,186

  • 15 · Other assets

    beginning of year $1,541,159 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $287,974 · end of year $260,658

  • 23 · Secured mortgages and notes payable

    beginning of year $3,519,275 · end of year $2,681,376

  • 25 · Other liabilities

    beginning of year $1,634,849 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $2,836,789 · end of year $4,215,195

Mission and programs · 2024

Mission

THE ROCK RIVER DEVELOPMENT PARTNERSHIP BRINGS BUSINESS AND PEOPLE TOGETHER TO CREATE A THRIVING ECONOMIC COMMUNITY. WE ARE ENTREPRENEURIAL AND EXPERIENTIAL MARKET MAKERS. OUR STRATEGY IS TO CREATE CONNECTIONS BETWEEN LOCAL ENTREPRENEURS AND CUSTOMERS TO DRIVE ECONOMY TO ROCKFORD'S URBAN CORE AND HISTORIC COMMERCIAL DISTRICTS.

Activities or mission (Part I)

TO ORGANIZE AND COORDINATE REDEVELOPMENT EFFORTS WITHIN THE CITY OF ROCKFORD.

  • OUR MARKETS BRING BUSINESS AND CUSTOMERS TOGETHER TO ENRICH THE COMMUNITY, BUSINESS, AND REVIVE THE HISTORIC DOWNTOWN AREA.

    Expenses $623,124 · Grants $200,000 · Revenue $389,476

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Peter Provenzano

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Catherine McDermott

    EXECUTIVE DIRECTOR AND FINANCE MANAGER

    Total calculated
    $32,682
    From this org
    $32,682
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

  • Thomas Budd

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Lorayne Logan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Douglas Mark

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Tyler Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Zina Horton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Rebecca Bartles

    EXECUTIVE DIRECTOR UNTIL APRIL 2024

    Total calculated
    $54,132
    From this org
    $54,132
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • ROCKFORD CITY MARKET MANAGER LLC

    HOLDING CO · IL · income $1,232,387 · assets $511,609

    Directly controlled by ROCK RIVER DEVELOPMENT PARTNERSHIP INC

  • ROCKFORD CITY MARKET MEMBER LLC

    HOLDING CO · IL · income $64,380 · assets -$26,481

    Directly controlled by ROCK RIVER DEVELOPMENT PARTNERSHIP INC

  • ROCKFORD CITY MARKET MANAGING MEMBER LLC

    HOLDING CO · IL · income -$1,221,533 · assets $561,269

    Directly controlled by ROCK RIVER DEVELOPMENT PARTNERSHIP INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • ROCKFORD CITY MARKET LLC

    RELATED · LEASING · IL · 95% owned · share of income $1,223,218 · share of assets $4,873,415

    Directly controlled by ROCK RIVER DEVELOPMENT PARTNERSHIP INC

  • ROCKFORD CITY MARKET MASTER TENANT LLC

    RELATED · LEASING · IL · 1% owned · share of income -$249

    Directly controlled by ROCK RIVER DEVELOPMENT PARTNERSHIP INC

Provenance

Return type
form_990
Tax year
2024
Filed
11 November 2025
IRS schema version
2024v5.2
Source object
202543189349305574

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