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Lee County Industrial Dev Association FY2024 filing

Not tax-deductible

Dixon, IL501(c)(6)Since 1960Mutual / membership EIN 36-6050638Revenue $247K in FY2024

On file with the IRSdixonillinoischamber.org101 W 2nd St Ste 301, 61021-3051 · Dixon, ILTax-exempt since Dec 1962

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To enhance the business climate of Lee County, illinois and the surrounding region by encouraging industries to locate in the area.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
90¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $27K a year · 20% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
94 mo
of spending, in cash
Looks good: 94.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$247K
+78% vs prior year
Spent
$120K
To programs
90%
Net assets
$1.1M
By yearFY2020–FY2025
Revenue
$247K
FY2024▲ +78%
Tap a bar for its year
Revenue by fiscal year
FY2020$2K
FY2021$105K
FY2022$80K
FY2023$138K
FY2024$247K
FY2025$224K
Expenses
$120K
FY2024▼ -29%
Tap a bar for its year
Expenses by fiscal year
FY2020$189K
FY2021$82K
FY2022$50K
FY2023$169K
FY2024$120K
FY2025$24K
Net assets
$1.1M
FY2024▲ +13%
Tap a bar for its year
Net assets by fiscal year
FY2020$958K
FY2021$981K
FY2022$1.0M
FY2023$980K
FY2024$1.1M
FY2025$1.3M

From the FY2024 Form 990 · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1962.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $108K Management & general 10% · $12K

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

13 people listed on the 990.

Part VII, Section A · reportable compensation
Chad Weigle
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jeff Stauter
Vice Chairman
$0Pt VII · Sec A
Glen Hughes
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Rory Sohn
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
See Lee County Industrial Dev Association executive salaries →

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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 15aNo

Programs and updates

Promotes, develops, and facilitates business growth and retention in Lee County, Illinois.

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Provided by the organization

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1 program · $108K · in their own filed words · FY2024
01

Expenses paid to encourage development in the lee county area.

$108Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$247K
Ln 12
Gifts and grantsLn 1h$150K
Investment incomeLn 3$97K
Money outPt IX
$120K
Ln 25
Programscol B$108K
Managementcol C$12K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$942K
Total assetsLn 16$1.1M
LiabilitiesLn 26$0
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$150K
Investment incomeLn 3$97K
Gains on assetsLn 7$84K
Total revenueLn 12$247K
Assets in detailPt X, end of year
SavingsLn 2$942K
Cash and savings togetherLn 1–2$942K
Land, buildings, equipmentLn 10c$165K
Total assetsLn 16$1.1M
LiabilitiesLn 26$0
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$734K$942K
Land, buildings, equipmentLn 10c$246K$165K
Total assetsLn 16$980K$1.1M
LiabilitiesLn 26$0$0
Net assetsLn 32$980K$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$108K$108K
TravelLn 17$5K$5K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$6K$6K
Total functional expensesLn 25$120K$108K$12K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $224K$24K$200K$1.3M 990 PDF
FY2024 Viewing $247K$120K$127K$1.1M 990 PDF
FY2023 $138K$169K−$31K$980K 990 PDF
FY2022 $80K$50K$29K$1.0M 990 PDF
FY2021 $105K$82K$23K$981K 990 PDF
FY2020 $2K$189K−$187K$958K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $246,739 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $103,779$150,000
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $21,232$96,739
I-11 Other revenuePrior year $13,326$0
I-12 Total revenuePrior year $138,337$246,739
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $168,856$119,591
I-18 Total expensesPrior year $168,856$119,591
I-19 Revenue less expensesPrior year −$30,519$127,148
Part VI · Governance 13 of 13 board members independent, 4 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $246,739 across 5 lines filed
VIII-1f All other contributions, gifts and grants$150,000
VIII-1h Total contributions, gifts and grants$150,000
VIII-3 Investment incomeExcluded from tax $12,582$12,582
VIII-7 Net gain or loss on sales of assetsRelated to mission $84,157$84,157
VIII-12 Total revenueRelated to mission $84,157 · Unrelated business $0 · Excluded from tax $12,582$246,739
Part IX · Statement of functional expenses $119,591 across 4 lines filed
IX-11a Management feesPrograms $108,000$108,000
IX-17 TravelManagement $4,707$4,707
IX-23 InsuranceManagement $1,118$1,118
IX-24 Other expenses (24a–d)Management $5,766$5,766
IX-25 Total functional expensesPrograms $108,000 · Management $11,591 · Fundraising $0$119,591
Part X · Balance sheet $1,107,106 assets, 6 lines filed
X-2 Savings and temporary cash investmentsStart of year $734,145$942,136
X-10c Land, buildings and equipment, netStart of year $245,813$164,970
X-16 Total assetsStart of year $979,958$1,107,106
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $979,958$1,107,106
X-33 Total liabilities and net assetsStart of year $979,958$1,107,106
Part XI · Reconciliation of net assets $1,107,106 net assets at year end
XI-1 Total revenue$246,739
XI-2 Total expenses$119,591
XI-3 Revenue less expenses$127,148
XI-4 Net assets at start of year$979,958
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,107,106

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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