Rockford Local Development Corporation

Rockford, IL
EIN: 36-3038678

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Type of Nonprofit

Designated as a 501(c)(6) Business leagues, chambers of commerce, real estate boards, etc, created for the improvement of business conditions.

Details

An independent audit commissioned by this organization for the fiscal year ending Sept. 2023 identified:

Significant deficiency in internal controls

Audit identified a deficiency in internal financial or governance controls that could limit the organization's ability to track and report financial data reliably. The deficiency is less severe than a material weakness but warrants attention from management.

Revenue

$1.91M (2023)

Expenses

$1.12M (2023)

Total Assets

$3.87M (2023)

Total Liabilities

$647k (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings and Audits by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Audits are required to be submitted by nonprofit organizations that spend $750,000 or more in federal grant money in a fiscal year. "Single audits" look at the entire organization's finances and compliance, while other audits are program specific. Nonprofit Explorer has PDFs of audits for some nonprofits for fiscal year 2015 and later. Audit data is from the Federal Audit Clearinghouse.

Fiscal Year Ending Sept.
2023

Revenue

$1,914,300

Expenses

$1,124,522

Net Income

$789,778

Net Assets

$3,220,894

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,042,400	54.5%
Program Services	$869,926	45.4%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$1,974	0.1%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$231,658	20.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$306,790	27.3%

Assets/Debt
Total Assets	$3,867,454
Total Liabilities	$646,560
Net Assets	$3,220,894

Compensation

Key Employees and Officers	Compensation	Related	Other
John Phelps (Executive Di)	$180,962	$0	$51,526
Donald Banks (Director)	$0	$0	$0
Todd Cagnoni (Director)	$0	$0	$0
Earl Dotson Jr (Director)	$0	$0	$0
Jeff Fahrenwald (Director)	$0	$0	$0
Linda Heckert (Chair)	$0	$0	$0
Kent Kohlbacher (Director)	$0	$0	$0
Audra Moncur (Director)	$0	$0	$0
Ed Munguia (Vice Chair)	$0	$0	$0
J Daniel O'boyle (Director)	$0	$0	$0
Michele Petrie (Director)	$0	$0	$0
Brian Peterson (Past Chairma)	$0	$0	$0
James Ryan (Secretary)	$0	$0	$0
Karl Swanson (Assistant Tr)	$0	$0	$0
Michael Schultz (Treasurer)	$0	$0	$0
Karen Walsh (Director)	$0	$0	$0
Brenten Witherby (Assistant Se)	$0	$0	$0
Janessa Wilkins (Ex Officio)	$0	$0	$0

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990

Filed on Aug. 5, 2024

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

XML

Audit

Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

PDF

This audit found:

Significant deficiency in internal controls

Fiscal Year Ending Sept.
2022

Revenue

$1,498,474

Expenses

$869,220

Net Income

$629,254

Net Assets

$2,431,116

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$690,600	46.1%
Program Services	$806,015	53.8%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$1,859	0.1%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$238,480	27.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$287,999	33.1%

Assets/Debt
Total Assets	$2,794,433
Total Liabilities	$363,317
Net Assets	$2,431,116

Compensation

Key Employees and Officers	Compensation	Related	Other
John Phelps (Executive Di)	$182,117	$0	$53,890
Donald Banks (Director)	$0	$0	$0
Audra Moncur (Director)	$0	$0	$0
Karl Swanson (Assistant Tr)	$0	$0	$0
Todd Cagnoni (Director)	$0	$0	$0
Jeff Fahrenwald (Director)	$0	$0	$0
Ed Munguia (Vice Chair)	$0	$0	$0
J Daniel O'boyle (Secretary)	$0	$0	$0
Michael Schultz (Treasurer)	$0	$0	$0
Michele Petrie (Director)	$0	$0	$0
Brian Peterson (Past Chairma)	$0	$0	$0
Brenten Witherby (Director)	$0	$0	$0
Kent Kohlbacher (Director)	$0	$0	$0
James Ryan (Secretary)	$0	$0	$0
Linda Heckert (Chair)	$0	$0	$0
Earl Dotson Jr (Director)	$0	$0	$0
Karen Walsh (Director)	$0	$0	$0
Janessa Wilkins (Director)	$0	$0	$0

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990

Filed on March 1, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending Sept.
2021

Revenue

$1,268,852

Expenses

$797,579

Net Income

$471,273

Net Assets

$1,801,862

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$517,000	40.7%
Program Services	$749,454	59.1%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$1,751	0.1%
Net Inventory Sales	$0
Other Revenue	$647	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$180,530	22.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$271,622	34.1%

Assets/Debt
Total Assets	$1,946,396
Total Liabilities	$144,534
Net Assets	$1,801,862

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
John Phelps (Executive Director)	$172,881	$0	$49,439
Audra Moncur (Director)	$0	$0	$0
Jeff Fahrenwald (Director)	$0	$0	$0
Michael Schultz (Treasurer)	$0	$0	$0
Brian Peterson (Past Chairman)	$0	$0	$0
Brenten Witherby (Director)	$0	$0	$0
J Daniel O'boyle (Secretary)	$0	$0	$0
Linda Heckert (Chairman)	$0	$0	$0
Todd Cagnoni (Director)	$0	$0	$0
Michele Petrie (Director)	$0	$0	$0
Ed Munguia (Vice Chairman)	$0	$0	$0
Earl Dotson (Director)	$0	$0	$0
Karl Swanson (Assistant Treasurer)	$0	$0	$0
James Ryan (Assistant Secretary)	$0	$0	$0
Karen Walsh (Director)	$0	$0	$0

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990

Filed on Jan. 14, 2022

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending Sept.
2020

Revenue

$954,486

Expenses

$835,195

Net Income

$119,291

Net Assets

$1,330,589

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$25,000	2.6%
Program Services	$927,767	97.2%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$1,185	0.1%
Net Inventory Sales	$0
Other Revenue	$534	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$165,912	19.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$312,492	37.4%

Assets/Debt
Total Assets	$1,534,022
Total Liabilities	$203,433
Net Assets	$1,330,589

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
John Phelps (Executive Director)	$182,721	$0	$43,737
Audra Moncur (Director)	$0	$0	$0
Jeff Fahrenwald (Director)	$0	$0	$0
Michael Schultz (Assistant Treasurer)	$0	$0	$0
Brian Peterson (Chairman)	$0	$0	$0
Brenten Witherby (Director)	$0	$0	$0
Chris Black (Director)	$0	$0	$0
J Daniel O'boyle (Secretary)	$0	$0	$0
Linda Heckert (Vice Chairman)	$0	$0	$0
Todd Cagnoni (Director)	$0	$0	$0
Michele Petrie (Director)	$0	$0	$0
Ed Munguia (Treasurer)	$0	$0	$0
Earl Dotson (Director)	$0	$0	$0
Todd Larson (Director)	$0	$0	$0
Karen Walsh (Director)	$0	$0	$0
Karl Swanson (Director)	$0	$0	$0
James Ryan (Assistant Secretary)	$0	$0	$0

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990

Filed on Nov. 29, 2021

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Sept.
2019

Revenue

$935,341

Expenses

$798,522

Net Income

$136,819

Net Assets

$1,211,298

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$229,995	24.6%
Program Services	$704,418	75.3%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$928	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$173,494	21.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$251,822	31.5%

Assets/Debt
Total Assets	$1,521,830
Total Liabilities	$310,532
Net Assets	$1,211,298

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

PDF (2 of 2)

Fiscal Year Ending Sept.
2018

Revenue

$692,407

Expenses

$697,919

Net Income

-$5,512

Net Assets

$1,074,479

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$692,407	100%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$153,083	21.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$253,618	36.3%

Assets/Debt
Total Assets	$1,462,798
Total Liabilities	$388,319
Net Assets	$1,074,479

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Sept.
2017

Revenue

$708,195

Expenses

$712,110

Net Income

-$3,915

Net Assets

$1,079,991

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$708,195	100%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$149,706	21.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$255,223	35.8%

Assets/Debt
Total Assets	$1,611,202
Total Liabilities	$531,211
Net Assets	$1,079,991

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Sept.
2016

Revenue

$687,376

Expenses

$688,280

Net Income

-$904

Net Assets

$1,083,906

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$687,276	100.0%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$100	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$149,706	21.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$253,297	36.8%

Assets/Debt
Total Assets	$1,483,646
Total Liabilities	$399,740
Net Assets	$1,083,906

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Sept.
2015

Revenue

$630,051

Expenses

$638,532

Net Income

-$8,481

Net Assets

$1,084,810

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$628,771	99.8%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$1,280	0.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$378,183	59.2%

Assets/Debt
Total Assets	$1,624,180
Total Liabilities	$539,370
Net Assets	$1,084,810

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Sept.
2014

Revenue

$705,289

Expenses

$698,521

Net Income

$6,768

Net Assets

$1,093,291

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$705,289	100%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$407,096	58.3%

Assets/Debt
Total Assets	$1,672,335
Total Liabilities	$579,044
Net Assets	$1,093,291

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Sept.
2013

Revenue

$2,724,871

Expenses

$674,523

Net Income

$2,050,348

Net Assets

$1,086,523

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$688,520	25.3%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$2,036,351	74.7%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$141,842	21.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$1,752,027
Total Liabilities	$665,504
Net Assets	$1,086,523

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Sept.
2012

Revenue

$650,884

Expenses

$758,145

Net Income

-$107,261

Net Assets

-$963,825

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$650,884	100%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$140,717	18.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$257,059	33.9%

Assets/Debt
Total Assets	$4,498,928
Total Liabilities	$5,462,753
Net Assets	-$963,825

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Sept.
2011

Revenue

$621,000

Expenses

$779,180

Net Income

-$158,180

Net Assets

-$856,564

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$607,119	97.8%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$13,881	2.2%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$133,793	17.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$241,011	30.9%

Assets/Debt
Total Assets	$4,478,690
Total Liabilities	$5,335,254
Net Assets	-$856,564

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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Raw filing data. Includes EINs and summary financials as structured data.
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Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
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Updated December 20, 2024

Rockford Local Development Corporation

Organization summary

Type of Nonprofit

Details

Summary charts: organization finances over time

Revenue $1.91M (2023)

Expenses $1.12M (2023)

Total Assets $3.87M (2023)

Total Liabilities $647k (2023)

Tax Filings and Audits by Year

Fiscal Year Ending Sept. 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Audit

Fiscal Year Ending Sept. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Sept. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Sept. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Sept. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Sept. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Sept. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Sept. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Sept. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Sept. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Sept. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Sept. 2012

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Sept. 2011

Extracted Financial Data

Extracted Financial Data from Form 990

Revenue

$1.91M (2023)

Expenses

$1.12M (2023)

Total Assets

$3.87M (2023)

Total Liabilities

$647k (2023)

Fiscal Year Ending Sept.
2023

Fiscal Year Ending Sept.
2022

Fiscal Year Ending Sept.
2021

Fiscal Year Ending Sept.
2020

Fiscal Year Ending Sept.
2019

Fiscal Year Ending Sept.
2018

Fiscal Year Ending Sept.
2017

Fiscal Year Ending Sept.
2016

Fiscal Year Ending Sept.
2015

Fiscal Year Ending Sept.
2014

Fiscal Year Ending Sept.
2013

Fiscal Year Ending Sept.
2012

Fiscal Year Ending Sept.
2011

Fiscal Year Ending Sept.
2010

Fiscal Year Ending Sept.
2009

Fiscal Year Ending Sept.
2008

Fiscal Year Ending Sept.
2007

Fiscal Year Ending Sept.
2006

Fiscal Year Ending Sept.
2005