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DOWNERS GROVE ECONOMIC DEVELOPMENT CORPORATION

EIN 87-0772222 DOWNERS GROVE, IL

Revenue 2024
$719,538
Expenses 2024
$693,950

Program services were 86.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

As filed

Subsection
06
NTEE code
S41
Classification
1000
Street
5159 MOCHEL DR

These codes are the IRS's own and are shown exactly as filed. What each one means is in the Business Master File documentation (opens in a new tab).

Mission and programs · 2024

Mission

TO ENHANCE THE ECONOMIC VITALITY OF THE VILLAGE OF DOWNERS GROVE THROUGH THE RETENTION, EXPANSION, AND ATTRACTION OF BUSINESS THAT IS CONDUCIVE TO IMPROVING THE QUALITY OF LIFE IN DOWNERS GROVE.

Activities or mission (Part I)

TO ENHANCE THE ECONOMIC VITALITY AND ATTRACT NEW BUSINESS TO THE VILLAGE OF DOWNERS GROVE

  • 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.

Officers and directors · 2024

As listed in Part VII of the 2024 return, in the order the filer printed them. Each return names its own; this is not a roster the organization keeps with us.

  • ROBERT L FERNANDEZ

    DIRECTOR & C

    Total calculated
    $0
    Hours/week
    1

  • KEN MALINOWSKI

    DIRECTOR/VIC

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL RIORDAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • SCOTT MILLER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • JOHN LUKA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • MARK COSENZA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • LORI RITZERT

    DIRECTOR/TRE

    Total calculated
    $0
    Hours/week
    1

  • BETH GONCHER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • KATHLEEN GOEPPINGER PHD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • GARY MORI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • RICHARD M GATTO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • EDWARD SITAR III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • DR MAUREEN DUNNE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • ERIN VENEZIA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • LISA RASIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • JENNIFER SCHINKE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • ALLISON WYLER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • ROBERT BARNETT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • DAVID FIELDMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • MICHAEL BAKER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • FADI OSMANO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • BRYAN GAY

    PRESIDENT &

    Total calculated
    $167,723
    From this org
    $155,299
    From related orgs
    $0
    Other
    $12,424
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,007
    Bonus
    not reported
    Other
    $18,292
    Deferred
    not reported
    Nontaxable benefits
    $12,424
    Filer's total
    $167,723

  • CHRIS GILMARTIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • THERESA SCHULZ

    DIRECTOR/SEC

    Total calculated
    $0
    Hours/week
    1

  • MARY LYNN FAYOUMI

    DIRECTOR

    Total calculated
    $0

The first 25 listed. 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. Earlier years are each on their own filing page.

Filings

  • 2024
    Revenue
    $719,538
    Expenses
    $693,950
    Contributions
    $595,000
    Grants paid
    $0
  • 2023
    Revenue
    $678,276
    Expenses
    $623,806
    Contributions
    $540,000
    Grants paid
    $0
  • 2022
    Revenue
    $477,738
    Expenses
    $475,973
    Contributions
    $430,000
    Grants paid
    $0

The four totals the IRS asks for on Part I of the Form 990, as filed. A dash means the figure was not present on the return — not that it was zero.

Other returns filed

  • 2021 · 990

    Revenue
    $564,179
    Expenses
    $543,598
    Assets (EOY)
    $265,224

  • 2020 · 990

    Revenue
    $595,862
    Expenses
    $487,356
    Assets (EOY)
    $244,643

Nonprofiteer parses Forms 990, 990-EZ and 990-PF, in a window of recent tax years. These returns are recorded from the IRS e-file index, so their figures were extracted by that index rather than read from the return here — treat them as a different source from the filings above, not as more of the same record. A dash means the index carries no figure; Form 990-T listings carry none at all.

Grants made

No itemized grants to organizations. Schedule I is filed only by organizations that granted more than $5,000 to a recipient, so most filers have none.

Grants received

Other IRS files

Auto-Revocation List

Not listed. The IRS publishes this list for organizations whose exemption was automatically revoked for failing to file for three consecutive years.

Publication 78

Not present in the most recent drop.

These are two separate IRS files on two separate schedules, shown as published and not reconciled with each other. Neither is a statement about whether a contribution is deductible today: 19,245 organizations appear in Publication 78 while the IRS's own revocation file lists them as currently revoked, more than half of those revoked before 2019. Absence from Publication 78 is evidence of nothing, and presence is not evidence either. Verify current status with the IRS before relying on it.

What this page reflects

The registration facts above come from the IRS Business Master File published 13 October 2026 and read 26 October 2026, for every organization at once. Returns through tax year 2024, the newest we have parsed for this organization.