Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2023.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Who runs it and what they're paid
22 people listed on the 990.
Compensation history total reportable pay by year · 7 named individuals · Part VII
| Name | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|
| Nathan Bryant | — | — | $247,383 | $244,913 |
| Therese Thill | $149,833 | — | — | — |
| Jarid Funderburg | — | — | $112,152 | $114,046 |
| Gerald Sagona | — | $113,894 | $112,191 | — |
| Stephanie Jones | — | $113,760 | — | $113,542 |
| Jerry Sagona | — | — | — | $113,443 |
| Don Daniels | $103,465 | — | — | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Cultivates regional economic well-being by driving primary job growth and providing business climate services to current and potential investors.
Questions for Rockford Area Economic Development
Your first name shows with your question. Rockford Area Economic Development answers here, for everyone.
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Business Climate Services
Work with current and potential raedc investors regarding economic development issues.
Business Expansion & Retention
Assisting existing area businesses to retain or expand.
Business Attraction
Attracting businesses to locate or relocate to the rockford area.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Total assetsLn 16 | $394K | $0 |
| LiabilitiesLn 26 | $619K | $0 |
| Net assetsLn 32 | −$225K | $0 |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $125K | |||
| Other salaries and wagesLn 7 | $154K | |||
| Pension plan contributionsLn 8 | $5K | |||
| Other employee benefitsLn 9 | $10K | |||
| Payroll taxesLn 10 | $18K | |||
| Legal feesLn 11b | $4K | |||
| Other fees for servicesLn 11g | $95K | |||
| Advertising and promotionLn 12 | $6K | |||
| Office expensesLn 13 | $10K | |||
| OccupancyLn 16 | $58K | |||
| TravelLn 17 | $5K | |||
| Conferences, conventions and meetingsLn 19 | $6K | |||
| Depreciation, depletion and amortizationLn 22 | $2K | |||
| InsuranceLn 23 | $827 | |||
| Other expenses (24a–d)Ln 24 | $6K | |||
| All other expensesLn 24e | $3K | |||
| Total functional expensesLn 25 | $508K | $0 | $0 | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2023 Latest Viewing | $677K | $508K | $169K | $0 | 990 PDF |
| FY2022 | $589K | $1.2M | −$592K | −$225K | 990 PDF |
| FY2021 | $988K | $971K | $16K | $367K | 990 PDF |
| FY2020 | $1.2M | $1.3M | −$66K | $351K | 990 PDF |
| FY2019 | $1.5M | $1.6M | −$79K | $417K | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $676,959 revenue, 12 lines filed
Part VI · Governance 21 of 21 board members independent, no flags
Part VIII · Statement of revenue $676,959 across 6 lines filed
Part IX · Statement of functional expenses $507,963 across 16 lines filed
Part X · Balance sheet $0 assets, 4 lines filed
Part XI · Reconciliation of net assets $0 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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