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Revitalize and Develop East Moline FY2023 filing

Tax-deductible

East Moline, IL501(c)(3)EIN 36-3815927Revenue −$157K in FY2023

On file with the IRS1033 7th St Ste 2, 61244-1461 · East Moline, ILTax-exempt since Nov 1992Publicly supported charity — 170(b)(1)(A)(vi)

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To promote commercial, industrial and recreational development that enhances both the tax base and the quality of life in East Moline; provide financial assistance to and encourage businesses to locate in identified project areas; target businesses which will provide training for unemployed or underemployed individuals and secure unsafe properties in economically depressed areas; and offfer sites on favorable terms to new or existing businesses.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
$98K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $92K a year · 120% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$98K
to officers and key staff · 56% of spending
Concern: pay to officers and key staff is 56% of spending; over 30%.
Pt VII · Sec A
Cash reserves
64 mo
of spending, in cash
Looks good: 64.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $11
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3K
0.3% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
−$157K
-242% vs prior year
Spent
$174K
To programs
88%
Net assets
$951K
By yearFY2020–FY2024
Revenue
−$157K
FY2023▼ -242%
Tap a bar for its year
Revenue by fiscal year
FY2020$155K
FY2021$195K
FY2022$110K
FY2023−$157K
FY2024$82K
Expenses
$174K
FY2023▼ -3%
Tap a bar for its year
Expenses by fiscal year
FY2020$159K
FY2021$186K
FY2022$179K
FY2023$174K
FY2024$149K
Net assets
$951K
FY2023▼ -26%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.3M
FY2021$1.4M
FY2022$1.3M
FY2023$951K
FY2024$884K

From the FY2023 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1992.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $154K Management & general 12% · $20K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990; $98K paid to officers and key staff.

Part VII, Section A · reportable compensation
Tim Knanishu
Executive Vice President
$97,500Pt VII · Sec A
$0Pt VII · Sec A
Eric Davis
Director
$0Pt VII · Sec A
Jerry Lack
Director
$0Pt VII · Sec A
Jennifer Hirsch
Treasurer, Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Tadd Griffith
Secretary
$0Pt VII · Sec A
Jay Morrow
President
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Tim Knanishu$112,468$97,500$85,000$85,000$85,000

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

Encourages business growth and development to improve the community and create jobs.

Questions for Revitalize and Develop East Moline

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Provided by the organization

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3 programs · $151K · in their own filed words · FY2023
01

Riverfront project-activities pursuant to the development of riverfront and downtown properties, including mixed-use development, wetlands enhancement, and environmental cleanup.

$101Kprogram expense
02

Property tax on property held for revitalization.

$29Kprogram expense
03

Downtown

$21Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
Amazonsmile FoundationFY2023$11
Total grants receivedfrom 1 funder$11
Grants paid · 1 grant · $25K · 2021–2021
City of East Moline IlFY2021$25,000

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
−$157K
Ln 12
Gifts and grantsLn 1h$88K
Investment incomeLn 3$17K
Money outPt IX
$174K
Ln 25
Programscol B$154K
Managementcol C$20K
Owns and owesPt X
$951K
net assets · Ln 32
Cash and savingsLn 1–2$930K
Total assetsLn 16$954K
LiabilitiesLn 26$3K
PeoplePt VI, VII
11
listed · VII A
PaidVII A1
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$88K
Investment incomeLn 3$17K
Gains on assetsLn 7−$261K
Total revenueLn 12−$157K
Assets in detailPt X, end of year
CashLn 1$704K
SavingsLn 2$225K
Cash and savings togetherLn 1–2$930K
Land, buildings, equipmentLn 10c$25K
Total assetsLn 16$954K
LiabilitiesLn 26$3K
Net assetsLn 32$951K
OperationsPt I, VI
EmployeesI 52
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$933K$930K
Land, buildings, equipmentLn 10c$352K$25K
Total assetsLn 16$1.3M$954K
LiabilitiesLn 26$2K$3K
Net assetsLn 32$1.3M$951K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$98K$88K$10K
Payroll taxesLn 10$7K$7K$746
Accounting feesLn 11c$5K$5K
Office expensesLn 13$381$381
Information technologyLn 14$3K$3K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$52K$52K
All other expensesLn 24e$4K$3K$1K
Total functional expensesLn 25$174K$154K$20K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $82K$149K−$67K$884K 990 PDF
FY2023 Viewing −$157K$174K−$331K$951K 990 PDF
FY2022 $110K$179K−$69K$1.3M 990 PDF
FY2021 $195K$186K$9K$1.4M 990 PDF
FY2020 $155K$159K−$5K$1.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary −$156,710 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $86,500$87,700
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year −$59,068−$244,421
I-11 Other revenuePrior year $82,598$11
I-12 Total revenuePrior year $110,030−$156,710
I-13 Grants and similar amounts paidPrior year $5,000$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $91,503$104,959
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $82,172$69,167
I-18 Total expensesPrior year $178,675$174,126
I-19 Revenue less expensesPrior year −$68,645−$330,836
Part VI · Governance 10 of 10 board members independent, 2 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue −$156,710 across 6 lines filed
VIII-1f All other contributions, gifts and grants$87,700
VIII-1h Total contributions, gifts and grants$87,700
VIII-3 Investment incomeExcluded from tax $16,547$16,547
VIII-7 Net gain or loss on sales of assetsRelated to mission −$260,968−$260,968
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $11$11
VIII-12 Total revenueRelated to mission −$260,957 · Unrelated business $0 · Excluded from tax $16,547−$156,710
Part IX · Statement of functional expenses $174,126 across 8 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $87,750 · Management $9,750$97,500
IX-10 Payroll taxesPrograms $6,713 · Management $746$7,459
IX-11c Accounting feesManagement $5,380$5,380
IX-13 Office expensesManagement $381$381
IX-14 Information technologyManagement $3,014$3,014
IX-23 InsurancePrograms $3,844$3,844
IX-24 Other expenses (24a–d)Programs $52,436$52,436
IX-24e All other expensesPrograms $2,912 · Management $1,200$4,112
IX-25 Total functional expensesPrograms $153,655 · Management $20,471 · Fundraising $0$174,126
Part X · Balance sheet $954,225 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $743,580$704,449
X-2 Savings and temporary cash investmentsStart of year $189,019$225,160
X-10c Land, buildings and equipment, netStart of year $351,709$24,616
X-16 Total assetsStart of year $1,284,308$954,225
X-17 Accounts payable and accrued expensesStart of year $2,396$3,149
X-26 Total liabilitiesStart of year $2,396$3,149
X-27 Net assets without donor restrictionsStart of year $1,281,912$951,076
X-32 Total net assets or fund balancesStart of year $1,281,912$951,076
X-33 Total liabilities and net assetsStart of year $1,284,308$954,225
Part XI · Reconciliation of net assets $951,076 net assets at year end
XI-1 Total revenue−$156,710
XI-2 Total expenses$174,126
XI-3 Revenue less expenses−$330,836
XI-4 Net assets at start of year$1,281,912
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$951,076

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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