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Northwest Rockford Redevelop Corp

Rockford, ILUnknown exempt organization EIN 81-4021619Revenue −$10K in FY2024

On file with the IRS2801 Huffman Blvd · Rockford, IL

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Assistance in the redevelopment of the Northwest portion of the city of Rockford, illinois.

98¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
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 4
filings with a surplus
Average deficit $29K a year · 579% of revenue · last 4 filings
Concern: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
−$10K
-532% vs prior year
Spent
$86K
To programs
98%
Net assets
$0
By yearFY2020–FY2024
Revenue
−$10K
FY2024▼ -532%
Tap a bar for its year
Revenue by fiscal year
FY2020$17K
FY2021$25K
FY2022$6K
FY2023−$2K
FY2024−$10K
Expenses
$86K
FY2024▲ ×134
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021$50K
FY2022$630
FY2023$644
FY2024$86K
Net assets
$0
FY2024▼ -100%
Tap a bar for its year
Net assets by fiscal year
FY2020$122K
FY2021$97K
FY2022$103K
FY2023$101K
FY2024$0

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

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

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $85K Management & general 2% · $1K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Kathy Schier
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Northwest Rockford Redevelop Corp 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

Helps redevelop the northwest part of Rockford, Illinois.

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Provided by the organization

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1 program · $85K · in their own filed words · FY2024
01

The organization is taking initial steps to make financial investments into the northwest geographic portion of the city of rockford, illinois to enhance the potential for economic and various types of redevelopment.

$85Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
−$10K
Ln 12
Money outPt IX
$86K
Ln 25
Programscol B$85K
Managementcol C$1K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gains on assetsLn 7−$10K
Total revenueLn 12−$10K
Assets in detailPt X, end of year
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
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
Total assetsLn 16$113K$0
LiabilitiesLn 26$12K$0
Net assetsLn 32$101K$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$63K$63K
Accounting feesLn 11c$1K$1K
Other fees for servicesLn 11g$22K$22K
Other expenses (24a–d)Ln 24$128$128
Total functional expensesLn 25$86K$85K$1K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing −$10K$86K−$96K$0 990 PDF
FY2023 −$2K$644−$2K$101K 990 PDF
FY2022 $6K$630$6K$103K 990 PDF
FY2021 $25K$50K−$25K$97K 990 PDF
FY2020 $17K$122K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary −$9,727 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment incomePrior year −$2,307−$9,888
I-11 Other revenuePrior year $769$161
I-12 Total revenuePrior year −$1,538−$9,727
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $644$86,028
I-18 Total expensesPrior year $644$86,028
I-19 Revenue less expensesPrior year −$2,182−$95,755
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 −$9,727 across 3 lines filed
VIII-7 Net gain or loss on sales of assetsRelated to mission −$9,888−$9,888
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $161$161
VIII-12 Total revenueRelated to mission −$9,727−$9,727
Part IX · Statement of functional expenses $86,028 across 4 lines filed
IX-11a Management feesPrograms $62,600$62,600
IX-11c Accounting feesManagement $1,300$1,300
IX-11g Other fees for servicesPrograms $22,000$22,000
IX-24 Other expenses (24a–d)Management $128$128
IX-25 Total functional expensesPrograms $84,600 · Management $1,428 · Fundraising $0$86,028
Part X · Balance sheet $0 assets, 4 lines filed
X-16 Total assetsStart of year $112,586$0
X-26 Total liabilitiesStart of year $12,000$0
X-32 Total net assets or fund balancesStart of year $100,586$0
X-33 Total liabilities and net assetsStart of year $112,586$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue−$9,727
XI-2 Total expenses$86,028
XI-3 Revenue less expenses−$95,755
XI-4 Net assets at start of year$100,586
XI-9 Other changes in net assets−$4,831
XI-10 Net assets at end of year$0

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

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