Skip to content
Nonprofiteer
← SPRINGFIELD BUSINESS DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by SPRINGFIELD BUSINESS DEVELOPMENT CORPORATION.

Totals

Total revenue
$962,431
Total expenses
$1,008,369
Contributions and grants received
$666,250
Grants paid
$0
Program service revenue
$268,805
Investment income
$27,376
Other revenue
$0
Total assets, end of year
$1,264,246
Total liabilities, end of year
$754,830
Net assets or fund balances, end of year
$509,416
Program services expenses (Part IX)
$950,075
Management and general expenses
$58,294
Fundraising expenses
$0
Program service expenses (Part III)
$950,075

Program services were 94.2% 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)

    $122,500

  • 1f · All other contributions, gifts and grants

    $543,750

  • 2a · Program service revenue: ECONOMIC DEVELOPMENT MANAGEMENT CONTRACT

    total $50,000 · related or exempt $50,000

  • 2b · Program service revenue: ANNUAL MEETING

    total $51,960 · related or exempt $51,960

  • 2c · Program service revenue: INVESTOR EVENTS OUTLOOK SERIES

    total $92,075 · related or exempt $92,075

  • 2d · Program service revenue: REGIONAL PARTNERS SERVICES

    total $35,000 · related or exempt $35,000

  • 2e · Program service revenue: RESTRICTED INCOME

    total $39,770 · related or exempt $39,770

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $27,376 · excluded $27,376

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8c · Net income from fundraising events

    total $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 11a · Fees: management

    total $650,000 · program services $650,000

  • 11c · Fees: accounting

    total $12,955 · management and general $12,955

  • 11g · Fees: other

    total $5,326 · program services $5,326 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $6,270 · program services $6,270

  • 13 · Office expenses

    total $15,718 · management and general $15,718

  • 14 · Information technology

    total $9,170 · management and general $9,170

  • 17 · Travel

    total $21,008 · program services $21,008

  • 19 · Conferences, conventions and meetings

    total $32,017 · program services $32,017

  • 24a · Other expenses: BUSINESS DEVELOPMENT

    total $91,239 · program services $91,239

  • 24b · Other expenses: RESEARCH

    total $64,306 · program services $64,306

  • 24c · Other expenses: INVESTOR RELATIONS

    total $59,584 · program services $59,584

  • 24d · Other expenses: LICENSES, DUES & SUBSCRIPTIONS

    total $20,451 · management and general $20,451

  • 24e · All other expenses

    total $20,325 · program services $20,325 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $752,912 · end of year $641,541

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $26,300

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

    $121,666

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

    $121,666

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $555,909 · end of year $596,405

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,958 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $89,600 · end of year $68,425

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $60,000 · end of year $60,000

  • 25 · Other liabilities

    beginning of year $585,909 · end of year $626,405

  • 27 · Net assets without donor restrictions

    beginning of year $553,170 · end of year $453,717

  • 28 · Net assets with donor restrictions

    beginning of year $2,184 · end of year $55,699

  • 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 $0 · end of year $0

Mission and programs · 2024

Mission

TO PROVIDE A CONTINUED REVENUE SOURCE FOR THE CHAMBER'S ECONOMIC DEVELOPMENT PROGRAM; ASSISTING BUSINESS AND INDUSTRY AND ATTRACTING NEW BUSINESS AND INDUSTRY TO THE SPRINGFIELD REGION.

Activities or mission (Part I)

TO PROVIDE CONTINUED REVENUE SOURCE FOR THE CHAMBER'S ECONOMIC DEV. PROGRAM; ASSISTING BUSINESS AND INDUSTRY AND ATTRACTING NEW BUSINESS AND INDUSTRY TO THE REGION.

  • ECONOMIC DEVELOPMENT PROJECTS - IN 2024, ECONOMIC DEVELOPMENT TEAM MANAGED SEVERAL NEW BUSINESS INVESTMENT OPPORTUNITIES/LEADS, RESULTING IN 9 SUCCESSFUL PROJECTS. THE TEAM HOSTED 5 PROJECT SPECIFIC SITE VISITS IN THE SPRINGFIELD REGION AND SOLD 105 ACRES OF INDUSTRIAL LAND. THE TEAM ANNOUNCED SEVERAL PROJECT WINS, RESULTING IN 382 NEW JOBS, $38.4M IN NEW PAYROLL AND $208M IN NEW CAPITAL INVESTMENT.

    Expenses $332,526 · Revenue $94,082

  • WORKFORCE DEVELOPMENT - IN ORDER TO MEET THE MOST PRESSING NEED OF EXISTING BUSINESSES, NEWLY ATTRACTED BUSINESSES AND START-UP COMPANIES, THE SBDC HAS SIGNIFICANTLY INCREASED ITS FOCUS ON WORKFORCE DEVELOPMENT. STAFF ADMINISTERS SIGNIFICANT PROGRAMS FOCUSED ON DEVELOPING TALENT WITHIN THE EXISTING EDUCATION SYSTEM, ATTRACTING TALENT TO THE REGION FROM OUTSIDE THE AREA AND RETAINING TALENT ALREADY IN THE REGION OR ATTENDING SCHOOL IN THE REGION. ALL OF THESE EFFORTS WILL GIVE SPRINGFIELD A COMPETITIVE ADVANTAGE NOW AND INTO THE FORESEEABLE FUTURE.

    Expenses $332,526 · Revenue $94,082

  • BUSINESS DEVELOPMENT INITIATIVES - IN 2024, OUR AGGRESSIVE APPROACH TO ASSISTING EXISTING COMPANIES WITH GROWTH OPTIONS, CONTINUED ALONG WITH OUR OUTREACH TO BRING NEW PRIMARY INDUSTRY SECTOR EMPLOYERS TO THE AREA. STAFF HELD NUMEROUS FACE-TO-FACE MEETINGS WITH LOCAL BUSINESS LEADERS TO IDENTIFY BARRIERS TO GROWTH AND INVESTMENTS THEY MAY NEED TO MAKE TO ENSURE THEIR PRESENCE IN THE REGION. SEE SCHEDULE O FOR ADDITIONAL INFORMATION.

    Expenses $285,023 · Revenue $80,641

As filed on the 2024 return.

Listed in Part VII

  • Brad Erwin

    Board Vice President

    Total calculated
    $0
    Hours/week
    1

  • Christina Angle

    Board President

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • David Atkisson

    Board Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Matt Morrow

    Board Secretary

    Total calculated
    $331,313
    From this org
    $0
    From related orgs
    $273,902
    Other
    $57,411
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $213,496 related
    Bonus
    $0 + $40,906 related
    Other
    $0 + $19,500 related
    Deferred
    $0 + $26,491 related
    Nontaxable benefits
    $0 + $30,920 related
    Filer's total
    $0 + $331,313 related

  • Bob Dixon

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Brent Baldwin

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Brian Hammons

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Carl Kicklighter

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Chris Stange

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Gary Gibson

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Gary Schafer

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Hollie Elliott

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Jake McWay

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Jason Gage

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Jason Smith

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Joe Wilkinson

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Joselyn Baldner

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Robert Randolph

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Stephanie O'Connor

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Trevor Crist

    Board Member

    Total calculated
    $0
    Hours/week
    1

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
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.1
Source object
202533169349300443

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.