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Nonprofiteer
← KANE AREA INDUSTRIAL DEVELOPMENT CORP

Form 990 for tax year 2023

Filed by KANE AREA INDUSTRIAL DEVELOPMENT CORP.

Totals

Total revenue
$71,618
Total expenses
$59,408
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$9,583
Other revenue
$62,035
Total assets, end of year
$1,394,625
Total liabilities, end of year
$44,108
Net assets or fund balances, end of year
$1,350,517
Program services expenses (Part IX)
$59,408
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$59,408

Program services were 100.0% 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.

  • 3 · Investment income

    total $9,583 · excluded $9,583

  • 6a · Gross rents

    real property $98,794

  • 6b · Less rental expenses

    real property $53,258

  • 6c · Rental income or loss

    real property $45,536

  • 6d · Net rental income or loss

    total $45,536 · related or exempt $45,536

  • 11a · Other revenue: PAYROLL REIMBURSEMENT

    total $15,846 · related or exempt $15,846

  • 11b · Other revenue: MISC INCOME

    total $653 · related or exempt $653

  • 11e · Other revenue, total

    $16,499

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $53,287 · program services $53,287

  • 10 · Payroll taxes

    total $3,913 · program services $3,913

  • 11c · Fees: accounting

    total $1,385 · program services $1,385

  • 23 · Insurance

    total $736 · program services $736

  • 24a · Other expenses: MISC EXPENSES

    total $87 · program services $87

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $97 · end of year $11,707

  • 2 · Savings and temporary cash investments

    beginning of year $390,004 · end of year $443,802

  • 7 · Other notes and loans receivable

    beginning of year $18,500 · end of year $33,249

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

    $1,707,085

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

    $801,218

  • 10c · Land, buildings and equipment, net

    beginning of year $948,736 · end of year $905,867

  • 23 · Secured mortgages and notes payable

    beginning of year $18,500 · end of year $43,500

  • 25 · Other liabilities

    beginning of year $530 · end of year $608

  • 27 · Net assets without donor restrictions

    beginning of year $1,338,307 · end of year $1,350,517

Mission and programs · 2023

Mission

TO ASSIST IN THE RECRUITMENT OF NEW BUSINESS AND INDUSTRY AND TO WORK WITH EXISTING BUSINESS AND INDUSTRY TO RETAIN PRESENT LEVELS AND PROVIDE FOR FUTURE GROWTH.

Activities or mission (Part I)

LEVELS AND PROVIDE FOR FUTURE GROWTH.TO ASSIST IN THE RECRUITMENT OF NEW BUSINESS AND INDUSTRY AND TO WORK WITH EXISTING BUSINESS AND INDUSTRY TO RETAIN PRESENT

  • PROVIDE A VEHICLE FOR COOPERATIVE PROJECTS, INTERCHANGE OF IDEAS, INTERCOMMUNITY COOPERATION, INTERCHANGE OF INDUSTRIAL INFORMATION FOR THE ECONOMICAL DEVELOPMENT AND BETTERMENT OF THE AREA SERVED.

    Expenses $59,408 · Revenue $62,035

As filed on the 2023 return.

Listed in Part VII

  • Steve Tunall

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Crystal Kocjancic

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Susan Zook Wilson

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Steve Perry

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Ed Kocjancic

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tom Kase

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Don Payne

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tom Geer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Norm Strotman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jeannine Kloss

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kathryn Kennedy

    EXECUTIVE DIRECTOR

    Total calculated
    $53,287
    From this org
    $47,827
    From related orgs
    $0
    Other
    $5,460
    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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
5 June 2024
IRS schema version
2023v5.0
Source object
202411779349300901

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