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
Where the money goes
51 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
49 people listed on the 990; $472K paid to officers and key staff.
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.
See Rockford Area Economic Development executive salaries →Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2Yes
- 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.
Business Climate Services
Work with current and potential raedc investors regarding economic development issues.
Business Attraction
Attracting businesses to locate or relocate to the rockford area.
Business Expansion & Retention
Assisting existing area businesses to retain or expan
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2020 990, line by line.
Download 990
| Line | Start FY20 | End FY20 |
|---|---|---|
| Cash and savingsLn 1–2 | $415K | $239K |
| InvestmentsLn 11–13 | $112K | $113K |
| Total assetsLn 16 | $753K | $547K |
| LiabilitiesLn 26 | $336K | $196K |
| Net assetsLn 32 | $417K | $351K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $249K | $249K | ||
| Other salaries and wagesLn 7 | $428K | $119K | $139K | $170K |
| Pension plan contributionsLn 8 | $34K | $25K | $9K | |
| Other employee benefitsLn 9 | $56K | $40K | $2K | $15K |
| Payroll taxesLn 10 | $52K | $35K | $2K | $15K |
| Legal feesLn 11b | $4K | $4K | ||
| Accounting feesLn 11c | $28K | $28K | ||
| Other fees for servicesLn 11g | $72K | $21K | $51K | |
| Advertising and promotionLn 12 | $159K | $159K | ||
| Office expensesLn 13 | $23K | $10K | $13K | |
| OccupancyLn 16 | $103K | $103K | ||
| TravelLn 17 | $21K | $21K | ||
| Conferences, conventions and meetingsLn 19 | $5K | $5K | ||
| InterestLn 20 | $2K | $2K | ||
| Depreciation, depletion and amortizationLn 22 | $57 | $57 | ||
| Other expenses (24a–d)Ln 24 | $69K | $8K | $19K | $42K |
| All other expensesLn 24e | $196 | $196 | ||
| Total functional expensesLn 25 | $1.3M | $664K | $362K | $277K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2023 LatestFiled with the IRS Nov 15, 2024 | $677K | $508K | $169K | $0 | 990 PDF |
| FY2022Filed with the IRS Nov 15, 2023 | $589K | $1.2M | −$592K | −$225K | 990 PDF |
| FY2021Filed with the IRS Nov 7, 2022 | $988K | $971K | $16K | $367K | 990 PDF |
| FY2020 ViewingFiled with the IRS Oct 21, 2021 | $1.2M | $1.3M | −$66K | $351K | 990 PDF |
| FY2019Filed with the IRS Jan 30, 2021 | $1.5M | $1.6M | −$79K | $417K | 990 PDF |
Schedules filed Part IV
See the full FY2020 990 (6 parts)
Part I · Summary $1,237,789 revenue, 12 lines filed
Part VI · Governance 39 of 39 board members independent, 1 to look at
Part VIII · Statement of revenue $1,237,789 across 7 lines filed
Part IX · Statement of functional expenses $1,303,779 across 17 lines filed
Part X · Balance sheet $547,217 assets, 12 lines filed
Part XI · Reconciliation of net assets $350,964 net assets at year end
Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File
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