Skip to content
Nonprofiteer
← LAND OF LINCOLN ECONOMIC DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by LAND OF LINCOLN ECONOMIC DEVELOPMENT CORPORATION.

Totals

Total revenue
$1,500,237
Total expenses
$1,802,974
Contributions and grants received
$1,320,000
Grants paid
$0
Program service revenue
$0
Investment income
$53,723
Other revenue
$126,514
Total assets, end of year
$2,322,508
Total liabilities, end of year
$500,192
Net assets or fund balances, end of year
$1,822,316
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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

    $570,000

  • 1e · Government grants (contributions)

    $750,000

  • 3 · Investment income

    total $53,723 · excluded $53,723

  • 11a · Other revenue: BROADBAND STUDY REIMBU

    total $124,000 · related or exempt $124,000

  • 11b · Other revenue: MISCELLANEOUS

    total $2,514 · related or exempt $2,514

  • 11e · Other revenue, total

    $126,514

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $196,878

  • 7 · Other salaries and wages

    total $301,036

  • 8 · Pension plan contributions

    total $14,910

  • 9 · Other employee benefits

    total $38,655

  • 10 · Payroll taxes

    total $35,034

  • 11c · Fees: accounting

    total $18,451

  • 11g · Fees: other

    total $90,149

  • 12 · Advertising and promotion

    total $355,094

  • 13 · Office expenses

    total $7,420

  • 14 · Information technology

    total $18,436

  • 16 · Occupancy

    total $74,328

  • 17 · Travel

    total $47,628

  • 19 · Conferences, conventions and meetings

    total $13,919

  • 22 · Depreciation, depletion and amortization

    total $24,151

  • 23 · Insurance

    total $4,835

  • 24a · Other expenses: STRATEGIC INVESTMENT

    total $433,508

  • 24b · Other expenses: PROFESSIONAL DEVELOPMEN

    total $81,784

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $35,722

  • 24d · Other expenses: TELEPHONE AND INTERNET

    total $7,306

  • 24e · All other expenses

    total $3,730

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,114,064 · end of year $2,211,040

  • 3 · Pledges and grants receivable

    beginning of year $86,250 · end of year $42,500

  • 9 · Prepaid expenses and deferred charges

    beginning of year $24,425 · end of year $24,079

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

    $120,754

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

    $98,370

  • 10c · Land, buildings and equipment, net

    beginning of year $46,535 · end of year $22,384

  • 15 · Other assets

    beginning of year $55,970 · end of year $22,505

  • 17 · Accounts payable and accrued expenses

    beginning of year $112,612 · end of year $420,007

  • 25 · Other liabilities

    beginning of year $89,579 · end of year $80,185

  • 27 · Net assets without donor restrictions

    beginning of year $2,038,803 · end of year $1,779,816

  • 28 · Net assets with donor restrictions

    beginning of year $86,250 · end of year $42,500

Mission and programs · 2023

Mission

TO PURSUE ECONOMIC PROSPERITY AND GROWTH FOR SANGAMON COUNTY AND THE CITY OF SPRINGFIELD BY CREATING A FINANCIALLY SOUND COMMUNITY ABLE TO ATTRACT NEW BUSINESSES AND SKILLED TALENT, WHILE RETAINING TODAY'S PROFITABLE COMPANIES AND THEIR LOCAL WORKFORCE.

Activities or mission (Part I)

TO PURSUE ECONOMIC PROSPERITY AND GROWTH FOR SANGAMON COUNTY AND THE CITY OF SPRINGFIELD BY CREATING A FINANCIALLY SOUND COMMUNITY ABLE TO ATTRACT NEW BUSINESSES AND SKILLED TALENT, WHILE RETAINING THE PROFITABLE COMPANIES AND LOCAL WORKFORCE WHO ALREADY MAKE SANGAMON COUNTY THEIR HOME.

  • GREW THE BUSINESS RETENTION AND EXPANSION (BRE) PROGRAM THAT WAS STARTED IN 2021 BY CONDUCITNG OVER 100 MEETINGS IN 2023. AT THE BRE MEETINGS, LLEDC STAFF ALSO WORKS TO ENCOURAGE BUSINESSES TO EXPAND AND CONNECT THEM TO RESOURCES TO ASSIST THEM. THE COMMUNITY MARKETING CAMPAIGN CONTINUES TO BE SUCCESSFUL WITH OVER 3 MILLION VIEWS OF THE DIGITAL MARKETING EFFORTS. WORKERS IN THE COMMUNITY STAYED ENGAGED WITH THE METRO AREA SURPASSING ITS PRE-PANDEMIC EMPLOYMENT LEVELS AND AVERAGE WAGES ALSO SHOWING SIGNIFICANT INCREASES. TOTAL EMPLOYMENT INCREASED 1.7% OVER THE PREVIOUS YEAR AND MORE THAN 2% OVER PRE-PANDEMIC LEVELS. MAJOR INVESTMENTS BEGAN INCLUDING THE GROUNDBREAKING FOR THE $75 MILLION SCHEELS SPORTS COMPLEX AT LEGACY POINTE. THE $800 MILLION DOUBLE BLACK DIAMOND SOLAR DEVELOPMENT CONTIUED CONSTRUCTION WITH COMPLETION EXPECTED IN 2024. NEW PASSENGER AIR SERVICE WAS SECURED WITH BREEZE AIRWAYS STARTING DIRECT FLIGHTS TO TAMPA AND ORLANDO BEGINNING DECEMBER 1ST. STAFF MADE DOZENS OF VISITS WITH NATIONAL SITE SELECTION CONSULTANTS TO GROW THEIR AWARENESS OF THE COMMUNITY IN REGARDS TO BUSINESS ATTRACTION OPPORTUNITIES AND LOCATIONS.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mike Aiello

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Ed Curtis

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Sarah Phalen

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Dr Charlotte Warren

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Satch Pecori

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dan Dungan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marita Zuraitis

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Damond Boatwright

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Hy Bunn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Gill

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Janet Gooch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Aaron Gurnsey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Hanna

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Geoff Isringhausen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marcus Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jason Knoedler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gregg Humphrey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ryan Levi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bill Bailey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mike O'Shea

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Clint Paul

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mike Murphy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Andy Van Meter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dominic Watson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ray Williams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Misty Buscher

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Steve Schoeffel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Teri Myers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ryan McCrady

    EXECUTIVE DIRECTOR

    Total calculated
    $196,878
    From this org
    $196,878
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $196,878
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $196,878

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

  • 3 · Approval by the board or compensation committee

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
2023
Filed
4 November 2024
IRS schema version
2023v5.1
Source object
202423199349312382

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.