Form 990 for tax year 2022
Filed by ROCKFORD AREA ECONOMIC DEVELOPMENT COUNCIL INC.
Totals
- Total revenue
- $588,661
- Total expenses
- $1,180,644
- Contributions and grants received
- $538,084
- Grants paid
- $0
- Program service revenue
- $45,500
- Investment income
- $581
- Other revenue
- $4,496
- Total assets, end of year
- $393,923
- Total liabilities, end of year
- $618,554
- Net assets or fund balances, end of year
- -$224,631
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- not reported
Program services were 0.0% 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.
-
1b · Membership dues
$437,221
-
1e · Government grants (contributions)
$100,863
-
2a · Program service revenue: MIDWEST AEROSPACE CONFERENCE
total $45,500 · related or exempt $45,500
-
3 · Investment income
total $581 · excluded $581
-
11a · Other revenue: MISCELLANEOUS
total $4,496 · excluded $4,496
-
11e · Other revenue, total
$4,496
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $266,770
-
7 · Other salaries and wages
total $432,474
-
8 · Pension plan contributions
total $14,339
-
9 · Other employee benefits
total $38,577
-
10 · Payroll taxes
total $44,280
-
11b · Fees: legal
total $6,381
-
11c · Fees: accounting
total $24,370
-
11g · Fees: other
total $105,449
-
12 · Advertising and promotion
total $5,500
-
13 · Office expenses
total $17,298
-
16 · Occupancy
total $105,838
-
17 · Travel
total $17,413
-
19 · Conferences, conventions and meetings
total $48,482
-
22 · Depreciation, depletion and amortization
total $1,438
-
23 · Insurance
total $1,385
-
24a · Other expenses: BAD DEBT EXPENSE
total $41,849
-
24e · All other expenses
total $8,801
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $236,777 · end of year $186,510
-
2 · Savings and temporary cash investments
beginning of year $11,783 · end of year $11,784
-
4 · Accounts receivable
beginning of year $150,677 · end of year $95,750
-
9 · Prepaid expenses and deferred charges
beginning of year $11,006 · end of year $2,778
-
10a · Land, buildings and equipment: cost or other basis
$203,540
-
10b · Land, buildings and equipment: accumulated depreciation
$200,214
-
10c · Land, buildings and equipment, net
end of year $3,326
-
12 · Investments: other securities
beginning of year $112,660
-
14 · Intangible assets
end of year $93,775
-
17 · Accounts payable and accrued expenses
beginning of year $61,877 · end of year $138,419
-
19 · Deferred revenue
beginning of year $93,675 · end of year $385,604
-
25 · Other liabilities
end of year $94,531
-
27 · Net assets without donor restrictions
beginning of year $367,351 · end of year -$224,631
Mission and programs · 2022
Mission
THE ROCKFORD AREA ECONOMIC DEVELOPMENT COUNCIL CULTIVATES OPPORTUNITIES FOR PRIMARY JOB GROWTH THAT INCREASE THE ECONOMIC WELL-BEING OF OUR REGION
-
BUSINESS ATTRACTION: ATTRACTING BUSINESSES TO LOCATE OR RELOCATE TO THE ROCKFORD AREA.
-
BUSINESS EXPANSION & RETENTION: ASSISTING EXISTING AREA BUSINESSES TO RETAIN OR EXPAND.
-
BUSINESS CLIMATE SERVICES: WORK WITH CURRENT AND POTENTIAL RAEDC INVESTORS REGARDING ECONOMIC DEVELOPMENT ISSUES.
As filed on the 2022 return.
Listed in Part VII
-
Wendy AlsteenWENDY ALSTEEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Christopher AndersonCHRISTOPHER ANDERSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
David AnspaughDAVID ANSPAUGH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Edward BergEDWARD BERG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Conor BrownCONOR BROWN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Sully CadengaSULLY CADENGA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Gina CaronnaGINA CARONNA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Eric CunninghamERIC CUNNINGHAM
CHAIR
- Total calculated
- $0
- Hours/week
- 5
-
Rebecca EppersonREBECCA EPPERSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
David ForwardDAVID FORWARD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Karl FranzenKARL FRANZEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
George GaulrappGEORGE GAULRAPP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Dan GiovanettiDAN GIOVANETTI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Alan GoldenALAN GOLDEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Thomas GreenTHOMAS GREEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
John GrohJOHN GROH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Michael GronewoldMICHAEL GRONEWOLD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Caitlin PusateriCAITLIN PUSATERI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
James Richter IIJAMES RICHTER II
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
James RozinskyJAMES ROZINSKY
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 5
-
Grant SjostromGRANT SJOSTROM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Therese ThillTHERESE THILL
PRESIDENT/CE
- Total calculated
- $162,791
- From this org
- $149,833
- From related orgs
- $0
- Other
- $12,958
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $149,833
- Bonus
- not reported
- Other
- not reported
- Deferred
- $4,938
- Nontaxable benefits
- $8,020
- Filer's total
- $162,791
-
Don DanielsDON DANIELS
PRESIDENT/CE
- Total calculated
- $103,979
- From this org
- $103,465
- From related orgs
- $0
- Other
- $514
- 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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202313199349326056
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