Form 990 for tax year 2023
Filed by MCHENRY COUNTY ECONOMIC DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $350,013
- Total expenses
- $383,548
- Contributions and grants received
- $258,763
- Grants paid
- $0
- Program service revenue
- $90,675
- Investment income
- $0
- Other revenue
- $575
- Total assets, end of year
- $21,791
- Total liabilities, end of year
- $430
- Net assets or fund balances, end of year
- $21,361
- Program services expenses (Part IX)
- $323,407
- Management and general expenses
- $26,703
- Fundraising expenses
- $33,438
- Program service expenses (Part III)
- not reported
Program services were 84.3% 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.
-
1b · Membership dues
$68,300
-
1e · Government grants (contributions)
$160,000
-
1f · All other contributions, gifts and grants
$30,463
-
2a · Program service revenue: ANNUAL MEETING
total $64,275 · related or exempt $64,275
-
2b · Program service revenue: CEO PEER GROUP
total $26,400 · related or exempt $26,400
-
3 · Investment income
total $0
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: MISC REVENUE
total $575 · related or exempt $575
-
11e · Other revenue, total
$575
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $42,418 · program services $42,418
-
5 · Compensation of officers, directors and key employees
total $108,981 · program services $73,783 · management and general $11,733 · fundraising $23,465
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $160,682 · program services $155,431 · management and general $1,750 · fundraising $3,501
-
8 · Pension plan contributions
total $1,080 · program services $918 · management and general $54 · fundraising $108
-
9 · Other employee benefits
total $169 · management and general $169
-
10 · Payroll taxes
total $21,389 · program services $18,181 · management and general $1,069 · fundraising $2,139
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $1,225 · management and general $1,225
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $6,070 · program services $5,407 · management and general $294 · fundraising $369
-
12 · Advertising and promotion
total $6,452 · program services $4,517 · management and general $645 · fundraising $1,290
-
13 · Office expenses
total $5,373 · program services $2,687 · management and general $2,686
-
14 · Information technology
total $10,079 · program services $7,679 · management and general $800 · fundraising $1,600
-
15 · Royalties
total $0
-
16 · Occupancy
total $9,657 · program services $8,208 · management and general $483 · fundraising $966
-
17 · Travel
total $1,981 · management and general $1,981
-
18 · Travel or entertainment for public officials
total $404 · program services $303 · management and general $101
-
19 · Conferences, conventions and meetings
total $1,183 · program services $1,183
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $285 · management and general $285
-
23 · Insurance
total $2,985 · management and general $2,985
-
24a · Other expenses: EQUIPMENT LEASE
total $2,643 · program services $2,643
-
24b · Other expenses: Postage and Shipping
total $245 · management and general $245
-
24c · Other expenses: AWARDS
total $104 · management and general $104
-
24d · Other expenses: MISCELLANEOUS EXPENSES
total $94 · management and general $94
-
24e · All other expenses
total $49 · program services $49
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $56,108 · end of year $21,791
-
2 · Savings and temporary cash investments
end of year $0
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
end of year $0
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$9,622
-
10b · Land, buildings and equipment: accumulated depreciation
$9,622
-
10c · Land, buildings and equipment, net
beginning of year $283 · end of year $0
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
end of year $0
-
25 · Other liabilities
beginning of year $1,495 · end of year $430
-
27 · Net assets without donor restrictions
beginning of year $54,896 · end of year $21,361
Mission and programs · 2023
Mission
TO PROMOTE THE ECONOMIC HEALTH OF McHENRY COUNTY, IL THROUGH RETENTION, EXPANSION AND ATTRACTION OF COMMERCE AND INDUSTRY WHICH IS CONDUCIVE TO AN OPTIMAL QUALITY OF LIFE FOR ITS CITIZEN
-
PROMOTING ECONOMIC HEALTH OF McHENRY COUNTY THROUGH RETENTION, EXPANSION AND ATTACTION OF COMMERCE & INDUSTRY. FACILITATING AN ECONOMIC DEVELOPMENT STRUCTURE ENABLING THE COMMUNITY TO PROMOTE THE SAME GOOD FOR THEIR RESIDENTS.
As filed on the 2023 return.
Listed in Part VII
-
JAMES McCONOUGHY
Executive Dir.
- Total calculated
- $105,981
- From this org
- $105,981
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Shane NerbySHANE NERBY
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
Steve RankinsSTEVE RANKINS
Treasurer
- Total calculated
- $0
- Hours/week
- 3
-
Sharmella HarrisSHARMELLA HARRIS
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
Stephen BallotSTEPHEN BALLOT
Chairman
- Total calculated
- $0
- Hours/week
- 3
-
Peter AustinPETER AUSTIN
Director
- Total calculated
- $0
- Hours/week
- 2
-
Richard MackRICHARD MACK
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
JOHN McCANN
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
Jonathan KamanJONATHAN KAMAN
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
Dr Clinton GabbardDR CLINTON GABBARD
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
Jeni HallattJENI HALLATT
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
Colleen RoosCOLLEEN ROOS
Secretary
- Total calculated
- $0
- Hours/week
- 1.5
-
Heather MaieritschHEATHER MAIERITSCH
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
Michael SkalaMICHAEL SKALA
Vice Chairman
- Total calculated
- $0
- Hours/week
- 1.5
-
Kevin ThurstonKEVIN THURSTON
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
Peter SchollPETER SCHOLL
Director
- Total calculated
- $0
- Hours/week
- 1.5
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
- 10 June 2024
- IRS schema version
- 2023v5.0
- Source object
- 202411629349300806
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