Form 990 for tax year 2024

Totals

Total revenue

$719,538

Total expenses

$693,950

Contributions and grants received

$595,000

Grants paid

$0

Program service revenue

$116,724

Investment income

$7,814

Other revenue

$0

Total assets, end of year

$594,122

Total liabilities, end of year

$247,075

Net assets or fund balances, end of year

$347,047

Program services expenses (Part IX)

$596,506

Management and general expenses

$97,444

Fundraising expenses

$0

Program service expenses (Part III)

$596,506

Program services were 86.0% 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.

Mission and programs · 2024

• 2024 PROGRAM SERVICE ACCOMPLISHMENTS ACTIVITIES OF THE DOWNERS GROVE ECONOMIC DEVELOPMENT CORPORATION INCLUDE BUSINESS ATTRACTION (FACILITATING NEW BUSINESS TO OPEN IN THE VILLAGE), BUSINESS RETENTION (WORKING WITH EXISTING BUSINESSES TO ENSURE SATISFACTION), VISITORS ATTRACTION (PROMOTING DOWNERS GROVE AS A DESTINATION FOR VISITORS), AND MARKETING (CREATION OF MATERIALS, WEBSITES, ETC., PARTICIPATION IN TRADE SHOWS, AND ADVERTISING). THE FOLLOWING ARE HIGHLIGHTS OF THE MANY PROGRAM SERVICE ACCOMPLISHMENTS OF THE DGEDC DURING 2024: ATI PHYSICAL THERAPY COMPLETED THE BUILDOUT OF THEIR NEW CORPORATE HEADQUARTERS AT 2001 BUTTERFIELD ROAD. BALES METALS SURFACE SOLUTIONS AT 2824 HITCHCOCK AVENUE COMPLETED THE EXPANSION OF THEIR EXISTING BUILDING WITH NEW PLATING EQUIPMENT. BUBBLY SIDE OF LIFE AT 5131 MAIN STREET COMPLETED THE BUILDOUT OF THEIR NEW RETAIL CHAMPAGNE AND WINE TASTING STORE IN THE DOWNTOWN. BUFFALO WILD WINGS GO COMPLETED THEIR QUICK SERVICE RESTAURANT BUILD-OUT AT 945 OGDEN AVENUE. CHEMRING ENERGETIC DEVICES COMPLETED A MAJOR RENOVATION OF THEIR NEW MANUFACTURING FACILITY AT 2525 CURTISS STREET. CHEMRING NOW FULLY OCCUPIES THE 100,000 SF FACILITY. ELEVEN26 CONTINUED CONSTRUCTION OF THEIR NEW RESTAURANT SPACE AT 5126 MAIN STREET IN THE DOWNTOWN. THE RESTAURANT IS LOOKING FORWARD TO A GRAND OPENING IN 2025. CNA COMPLETED THE BUILD-OUT OF THEIR CORPORATE OFFICE EXPANSION AT 3333 FINLEY ROAD. ENTOURAGE COMPLETED THE BUILD-OUT OF THEIR NEW RESTAURANT AT 5101 MAIN STREET. ESCAPOLOGY DOWNERS GROVE OPENED FOR BUSINESS AT 1250 75TH STREET. ESCAPOLOGY IS AN ESCAPE ROOM / ENTERTAINMENT VENUE. EVEREST ASIAN FUSION BEGAN BUILD-OUT OF THEIR NEW RESTAURANT 1550 75TH STREET. HIME CHA BOBA TEA COMPLETED THE BUILD-OUT OF THEIR NEW JUICE AND TEA SHOP AT 436 75TH STREET. CASTLE CARS GENESIS OF DOWNERS GROVE CONTINUED CONSTRUCTION OF THEIR NEW DEALERSHIP AT CROSS AND ODGEN AVENUE IN OCTOBER. CONSTRUCTION IS TO BE COMPLETED IN 2025. GOLDFINGER BREWING COMPANY COMPLETED CONSTRUCTION ON A MAJOR EXPANSION OF THEIR BREWING FACILITY AT 513 ROGERS STREET INCLUDING AN EXPANDED BREWHOUSE. LYTLE HOUSE COMPLETED CONSTRUCTION IN 2024 AT 4919 BELMONT ROAD WHICH HOUSES A NEW PHOTOGRAPHY STUDIO AND SPECIAL EVENT SPACE. FEDERAL SIGNAL COMPLETED SIGNED A LEASE AND COMPLETED THE BUILD-OUT OF THEIR NEW CORPORATE OFFICES AT 1333 BUTTERFIELD ROAD. HOME GOODS AND MARSHALLS BEGAN RENOVATING THEIR NEW RETAIL SPACES AT 1548 BUTTERFIELD ROAD IN THE FINLEY SQUARE SHOPPING CENTER. BOTH RETAILERS ARE SCHEDULED TO OPEN IN LATE 2025. MCALLISTER'S DELI OPENED FOR BUSINESS IN FEBRUARY AFTER COMPLETING THEIR RESTAURANT BUILD-OUT AT 933 OGDEN AVENUE. THE DOWNERS GROVE PARK DISTRICT COMPLETED CONSTRUCTION AT MCCOLLUM PARK FOR NEW SPRAY PADS, NEW TENNIS AND PICKLEBALL COURTS, RECONSTRUCTION OF PATHWAYS, NEW SHELTERS AND STORM SEWER IMPROVEMENTS. MEADOWBROOK SHOPPING CENTER CONTINUED WORKING THROUGH THE TIF CREATION PROCESS WITH THE VILLAGE FOR THE REHABILITATION OF THE CENTER. TIF CREATION AND RE-DEVELOPMENT PLAN TO BE ADOPTED IN 2025. MIDWESTERN UNIVERSITY CONTINUED CONSTRUCTION ON THEIR NEWEST BUILDING AT 555 31ST STREET. THIS NEW 122,000 SF BUILDING WILL INCLUDE ADMINISTRATIVE OFFICES, CLASSROOMS AND STATE-OF-THE-ART LAB SPACES. CONSTRUCTION IS SCHEDULED FOR COMPLETION IN 2025. OAK TRACE COMPLETED CONSTRUCTION OF A MAJOR EXPANSION OF THEIR COMMUNITY AT 270 VILLAGE DRIVE. CONSTRUCTION WILL INCLUDE A TWO NEW 5-STORY APARTMENT BUILDING AND PARKING COMPLEX. ROASTED ELEMENTS AT 4955 FAIRVIEW AVENUE BEGAN THE BUILD-OUT OF THEIR COFFEE SHOP AND ROASTERY. SKYWAY HEALTH COMPLETED THE BUILD-OUT OF THEIR NEW CORPORATE OFFICES AT 2001 BUTTERFIELD ROAD IN THE ESPLANADE LAKES OFFICE PARK. VINTAGE CHARM COMPLETED THE BUILD-OUT OF THEIR SEVENTH RETAIL LOCATION AT 5114 MAIN STREET IN THE DOWNTOWN. WOODCRAFT RELOCATED FROM WOODRIDGE TO 504 OGDEN AVENUE. WOODCRAFT IS A SPECIALTY WOODWORKING AND TOOL RETAIL STORE.

  Expenses $596,506 · Revenue $711,724

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

Listed in Part VII

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

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

2024

Filed

3 July 2025

IRS schema version

2024v5.0

Source object

202541849349300724

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

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