South Elgin Economic Development Council
- Assets
- $57.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- South Elgin, IL
- Founding
- 01/2003
- Data as of
- 12/2020
- EIN
- 36-4379410
Organization Overview
South Elgin Economic Development Council is located in South Elgin, IL. The organization was established in 2003. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic 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. South Elgin Economic Development Council is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2020, South Elgin Economic Development Council generated $22.1k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of 0.0% each year. All expenses for the organization totaled $10.9k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (12.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3
PROMOTES LOCAL BUSINESSES AND ECONOMIC DEVELOPMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Montemayor Director | 1 | $0 | |
Judith Schening Director | 1 | $0 | |
Kathy Hazelwood Director | 1 | $0 | |
Mary Beth Jones Director | 1 | $0 | |
Taylor Garner Director | 1 | $0 | |
Adam Neisendorf Secretary | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,985 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $130 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $22,115 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $1,206 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $288 |
| Other expenses | $9,370 |
| Total expenses | $10,864 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $57,142 |
| Other assets | $0 |
| Total assets | $57,142 |
| Total liabilities | $0 |
| Net assets or fund balances | $57,142 |