Lake County Economic Development Corporation

Organization Overview

Lake County Economic Development Corporation is located in Lincolnshire, IL. The organization was established in 1985. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake County Economic Development Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

For the year ending 12/2021, Lake County Economic Development Corporation generated $137.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.3% each year . All expenses for the organization totaled $115.5k during the year ending 12/2021. While expenses have increased by 10.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO BRING TOGETHER STATE AND LOCAL ELECTED LEADERS, ALONG WITH BUSINESS REPRESENTATIVES, AND OTHER TRANSPORTATION STAKEHOLDERS TO BUILD CONSENSUS AROUND TRANSPORTATION GOALS AND TO WORK TOGETHER TO DEVELOP A STRATEGIC APPROACH TO PLANNING FOR OUR TRANSPORTATION FUTURE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

LEVERAGING LOCAL, COUNTY, STATE, FEDERAL AND PRIVATERECOURCES TO MITIGATE TRAFFIC CONGESTION IMPACTING LAKECOUNTY ILLINIOS.


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Board, Officers & Key Employees

Name (title)Compensation
Linda Soto
Executive Director
$14,400
Peter Manhard
President
$0
Steve Henley
Vice President
$0
Kent Street
Treasurer
$0
Amanda Orenchuk
Director
$0
Kathleen O'connor
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$53,582
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$83,666
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$137,248
Total Program Service Revenue$0
Investment income $15
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $137,263

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