Great River Economic Development Foundation FY2020 filing

Not tax-deductible

Quincy, IL501(c)(6)Community DevelopmentEIN 37-1053827Revenue $394K in FY2020

On file with the IRSgredf.org501 Hampshire St, 62301-2928 · Quincy, ILTax-exempt since Aug 1979

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Promote Economic Development

100¢ of each $1 spent went to programs.
$105K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

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FY2020 · 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
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
4 of 5
filings with a surplus
Average surplus $39K a year · 9% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$105K
to officers and key staff · 28% of spending
Worth a look: pay to officers and key staff is 28% of spending; over 20%.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $23K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$67K
10% of total assets
Looks good: liabilities are 10% of assets; 50% or less.
Pt X · Ln 26
Independent board members
24
of 24 voting members
Looks good: 24 of 24 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$394K
Spent
$380K
To programs
100%
Net assets
$629K
By yearFY2020–FY2024
Revenue
$394K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$394K
FY2021$460K
FY2022$326K
FY2023$538K
FY2024$503K
Expenses
$380K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$380K
FY2021$417K
FY2022$418K
FY2023$419K
FY2024$393K
Net assets
$629K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$629K
FY2021$651K
FY2022$558K
FY2023$667K
FY2024$778K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 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 Aug 1979.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $380K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

24 people listed on the 990; $105K paid to officers and key staff.

Part VII, Section A · reportable compensation
President
$105,350Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
$0Pt VII · Sec A

Kyle Moore’s $103K as President is at the 75th percentile of top reported officer pay among 1708 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Kyle Moore$102,700$104,700$106,700——
Marcel Wagner JR———$105,350—
Marcel Wagner————$105,350

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

Promotes economic development in the Quincy area by assisting businesses and fostering workforce growth.

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Provided by the organization

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1 program · $380K · in their own filed words · FY2020
01

Gredf promotes economic development in the quincy community and provides professional assistance to businesses wishing to locate in the quincy area.

$380Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2021
Total grants receivedfrom 1 funder$23K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$394K
Ln 12
Gifts and grantsLn 1h$172K
Fees for servicesLn 2g$165K
Investment incomeLn 3$32K
Money outPt IX
$380K
Ln 25
Programscol B$380K
Owns and owesPt X
$629K
net assets · Ln 32
Cash and savingsLn 1–2$41K
Total assetsLn 16$696K
LiabilitiesLn 26$67K
PeoplePt VI, VII
24
listed · VII A
PaidVII A1
Voting boardVI 1a24
IndependentVI 1b24
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$172K
Government grantsLn 1e$172K
Fees for servicesLn 2g$165K
Investment incomeLn 3$32K
Other incomeLn 4–11$25K
Gains on assetsLn 7$21K
Total revenueLn 12$394K
Assets in detailPt X, end of year
CashLn 1$6K
SavingsLn 2$35K
Cash and savings togetherLn 1–2$41K
InvestmentsLn 11–13$594K
Land, buildings, equipmentLn 10c$4K
Total assetsLn 16$696K
LiabilitiesLn 26$67K
Net assetsLn 32$629K
OperationsPt I, VI
EmployeesI 56
VolunteersI 615
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$70K$41K
InvestmentsLn 11–13$539K$594K
Land, buildings, equipmentLn 10c$3K$4K
Total assetsLn 16$658K$696K
LiabilitiesLn 26$69K$67K
Net assetsLn 32$589K$629K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$235K$235K
Pension plan contributionsLn 8$12K$12K
Other employee benefitsLn 9$41K$41K
Payroll taxesLn 10$19K$19K
Accounting feesLn 11c$8K$8K
OccupancyLn 16$14K$14K
TravelLn 17$6K$6K
Conferences, conventions and meetingsLn 19$5K$5K
Depreciation, depletion and amortizationLn 22$2K$2K
Other expenses (24a–d)Ln 24$26K$26K
All other expensesLn 24e$14K$14K
Total functional expensesLn 25$380K$380K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $503K$393K$111K$778K 990 PDF
FY2023 $538K$419K$119K$667K 990 PDF
FY2022 $326K$418K−$92K$558K 990 PDF
FY2021 $460K$417K$43K$651K 990 PDF
FY2020 Viewing $394K$380K$13K$629K 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 FY2020 990 (6 parts)
Part I · Summary $393,867 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $160,000$172,182
I-9 Program service revenuePrior year $186,317$165,270
I-10 Investment incomePrior year $20,126$31,653
I-11 Other revenue$24,762
I-12 Total revenuePrior year $366,443$393,867
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $316,104$306,804
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $82,083$73,607
I-18 Total expensesPrior year $398,187$380,411
I-19 Revenue less expensesPrior year −$31,744$13,456
Part VI · Governance 24 of 24 board members independent, 1 to look at
VI-1a Voting members of the governing body24
VI-1b Independent voting members24
VI-12a Written conflict of interest policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $393,867 across 7 lines filed
VIII-1e Government grants$172,182
VIII-1h Total contributions, gifts and grants$172,182
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $165,270$165,270
VIII-3 Investment incomeExcluded from tax $10,908$10,908
VIII-7 Net gain or loss on sales of assetsExcluded from tax $20,745$20,745
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $24,762$24,762
VIII-12 Total revenueRelated to mission $165,270 · Unrelated business $24,762 · Excluded from tax $31,653$393,867
Part IX · Statement of functional expenses $380,411 across 11 lines filed
IX-7 Other salaries and wagesPrograms $235,334$235,334
IX-8 Pension plan contributionsPrograms $11,554$11,554
IX-9 Other employee benefitsPrograms $40,585$40,585
IX-10 Payroll taxesPrograms $19,331$19,331
IX-11c Accounting feesPrograms $7,583$7,583
IX-16 OccupancyPrograms $14,092$14,092
IX-17 TravelPrograms $5,560$5,560
IX-19 Conferences, conventions and meetingsPrograms $4,764$4,764
IX-22 Depreciation, depletion and amortizationPrograms $1,685$1,685
IX-24 Other expenses (24a–d)Programs $26,047$26,047
IX-24e All other expensesPrograms $13,876$13,876
IX-25 Total functional expensesPrograms $380,411 · Management $0 · Fundraising $0$380,411
Part X · Balance sheet $696,196 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $7,190$6,209
X-2 Savings and temporary cash investmentsStart of year $62,407$34,603
X-4 Accounts receivableStart of year $46,627$56,877
X-10c Land, buildings and equipment, netStart of year $3,221$4,271
X-11 Publicly traded securitiesStart of year $538,779$594,236
X-16 Total assetsStart of year $658,224$696,196
X-17 Accounts payable and accrued expensesStart of year $3,336$3,252
X-19 Deferred revenueStart of year $66,120$64,107
X-26 Total liabilitiesStart of year $69,456$67,359
X-27 Net assets without donor restrictionsStart of year $568,768$628,837
X-32 Total net assets or fund balancesStart of year $588,768$628,837
X-33 Total liabilities and net assetsStart of year $658,224$696,196
Part XI · Reconciliation of net assets $628,837 net assets at year end
XI-1 Total revenue$393,867
XI-2 Total expenses$380,411
XI-3 Revenue less expenses$13,456
XI-4 Net assets at start of year$588,768
XI-5 Net unrealized gains (losses) on investments$46,614
XI-9 Other changes in net assets−$20,001
XI-10 Net assets at end of year$628,837

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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