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Nonprofiteer
← ILLINOIS MANUFACTURING EXCELLENCE CENTER

Form 990 for tax year 2023

Filed by ILLINOIS MANUFACTURING EXCELLENCE CENTER.

Totals

Total revenue
$17,029,628
Total expenses
$16,748,628
Contributions and grants received
$9,863,943
Grants paid
$6,018,170
Program service revenue
$6,887,264
Investment income
$278,421
Other revenue
$0
Total assets, end of year
$11,459,263
Total liabilities, end of year
$3,791,015
Net assets or fund balances, end of year
$7,668,248
Program services expenses (Part IX)
$15,597,996
Management and general expenses
$1,150,632
Fundraising expenses
$0
Program service expenses (Part III)
$15,597,996

Program services were 93.1% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $9,863,929

  • 1f · All other contributions, gifts and grants

    $14

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: Client Projects

    total $6,887,264 · related or exempt $6,887,264 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $278,421 · related or exempt $0 · unrelated business $0 · excluded $278,421

  • 4 · Income from investment of tax-exempt bond proceeds

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

  • 5 · Royalties

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

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $6,018,170 · program services $6,018,170

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $357,000 · program services $218,517 · management and general $138,483 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $474,340 · program services $444,760 · management and general $29,580 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $2,326 · program services $0 · management and general $2,326 · fundraising $0

  • 10 · Payroll taxes

    total $51,917 · program services $42,450 · management and general $9,467 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $35,385 · program services $0 · management and general $35,385 · fundraising $0

  • 11d · Fees: lobbying

    total $48,000 · program services $48,000 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $20,788 · program services $20,788 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $313,399 · program services $211,321 · management and general $102,078 · fundraising $0

  • 14 · Information technology

    total $102,062 · program services $9,520 · management and general $92,542 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $61,136 · program services $0 · management and general $61,136 · fundraising $0

  • 17 · Travel

    total $525,801 · program services $517,542 · management and general $8,259 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $34,533 · program services $34,533 · management and general $0 · fundraising $0

  • 20 · Interest

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $22,416 · program services $0 · management and general $22,416 · fundraising $0

  • 24a · Other expenses: Contractual Services

    total $5,931,600 · program services $5,282,710 · management and general $648,890 · fundraising $0

  • 24b · Other expenses: Cybersecurity Awards

    total $2,711,587 · program services $2,711,587 · management and general $0 · fundraising $0

  • 24c · Other expenses: Misc

    total $38,168 · program services $38,098 · management and general $70 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,073,149 · end of year $7,603,366

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $1,551,091 · end of year $2,455,533

  • 4 · Accounts receivable

    beginning of year $805,938 · end of year $1,192,019

  • 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 $73,403 · end of year $116,880

  • 15 · Other assets

    beginning of year $153,569 · end of year $91,465

  • 17 · Accounts payable and accrued expenses

    beginning of year $670,368 · end of year $1,235,549

  • 18 · Grants payable

    beginning of year $951,148 · end of year $1,035,276

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 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 $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $648,386 · end of year $1,520,190

  • 27 · Net assets without donor restrictions

    beginning of year $7,387,248 · end of year $7,668,248

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

To foster the long-term economic and workforce competitiveness of the state and nation by stimulating innovation and the development of new practices, products, services, and production practices and to operate exclusively for educational and charitable purposes.

  • The Illinois Manufacturing Excellence Center (IMEC) is a not-for-profit organization dedicated to providing technical, management and financial assistance as well as consulting and training service to manufacturing and technology-related firms, and to related industries that impact such enterprises. Activities during the period include service to 3376 smaller manufacturers involving 796 technical assistance projects, 601 other informal assistance engagements, and dissemination of information to over 10,000 smaller manufacturers and manufacturing-related enterprises.

    Expenses $15,597,996 · Grants $6,018,170 · Revenue $6,887,264

As filed on the 2023 return.

Listed in Part VII

  • David Boulay

    President

    Total calculated
    $336,007
    From this org
    $336,007
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $294,757
    Bonus
    $41,250
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $336,007

  • Marcia Ayala

    Director

    Total calculated
    $0
    Hours/week
    0.7

  • Robert Barnett

    Director

    Total calculated
    $0
    Hours/week
    0.7

  • David Carroll

    Director

    Total calculated
    $0
    Hours/week
    0.7

  • Pedro DeJesus

    Director

    Total calculated
    $0
    Hours/week
    0.7

  • David Fox

    Director

    Total calculated
    $0
    Hours/week
    0.7

  • Mike Loquercio

    Director

    Total calculated
    $0
    Hours/week
    0.7

  • Robert Herrmann

    Director

    Total calculated
    $0
    Hours/week
    0.7

  • Ashley Moy

    Director

    Total calculated
    $0
    Hours/week
    0.7

  • Caitlin Simhauser

    Director

    Total calculated
    $0
    Hours/week
    0.7

  • Jeff Taylor

    Director

    Total calculated
    $0
    Hours/week
    0.7

  • Craig Van den Avont

    Past Chair

    Total calculated
    $0
    Hours/week
    0.7

  • Karen Watson

    Director

    Total calculated
    $0
    Hours/week
    0.7

  • Ken Carlton

    Director

    Total calculated
    $0
    Hours/week
    0.7

  • Jim Nelson

    Director

    Total calculated
    $0
    Hours/week
    0.7

  • Mauro Frangipani

    Director

    Total calculated
    $0
    Hours/week
    0.7

  • Michele Drew Rodriguez

    Chair

    Total calculated
    $0
    Hours/week
    0.8

  • Scott Rempala

    Finance Committee Chair

    Total calculated
    $0
    Hours/week
    0.8

  • Margy Sweeney

    Governance Committee Chair

    Total calculated
    $0
    Hours/week
    0.8

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 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 6a · Pay contingent on this organization's net earnings

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

The filer's explanations (Part III)

Schedule J, Part I, Line 3
Compensation for IMEC's president is established by IMEC's board of directors' personnel committee and approved by the full board. The board reviews data gathered from comparable organizations in setting salary.
Schedule J, Part I, Line 6
Net earnings along with other organizational performance metrics are used to determine IMEC's annual bonus.

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

Provenance

Return type
form_990
Tax year
2023
Filed
28 May 2025
IRS schema version
2023v6.0
Source object
202541489349300524

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