Kewanee Economic Development Corp

Kewanee, IL
Tax-exempt since March 1985
EIN: 36-3276581

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Type of Nonprofit

Designated as a 501(c)(4) Civic leagues, social welfare organizations and local associations of employees, created to promote community welfare for charitable, educational or recreational purposes.

Donations to this organization are not tax deductible.

Revenue

$228k (2023)

Expenses

$78.5k (2023)

Total Assets

$1.31M (2023)

Total Liabilities

$1.6k (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings 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.

Fiscal Year Ending Dec.
2023

Revenue

$228,279

Expenses

$78,524

Net Income

$149,755

Net Assets

$1,306,892

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$53,205	23.3%
Program Services	$0
Investment Income	$1,923	0.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$173,151	75.9%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$56,070	71.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$1,308,489
Total Liabilities	$1,597
Net Assets	$1,306,892

Compensation

Key Employees and Officers	Compensation	Related	Other
Katherine J Albert (Executive Director)	$56,070	$0	$0
Charles Eastman (President)	$0	$0	$0
Thomas G Ratliff (Vice President)	$0	$0	$0
Mark Rewerts (Treasurer)	$0	$0	$0
See List (Directors)	$0	$0	$0

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990

Filed on May 1, 2024

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

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2022

Revenue

$281,958

Expenses

$74,146

Net Income

$207,812

Net Assets

$1,157,137

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$69,540	24.7%
Program Services	$0
Investment Income	$784	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$211,634	75.1%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$57,400	77.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$1,158,704
Total Liabilities	$1,567
Net Assets	$1,157,137

Compensation

Key Employees and Officers	Compensation	Related	Other
Katherine J Albert (Executive Director)	$57,400	$0	$0
Charles Eastman (President)	$0	$0	$0
Thomas G Ratliff (Vice President)	$0	$0	$0
Mark Rewerts (Treasurer)	$0	$0	$0
See List (Directors)	$0	$0	$0

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990

Filed on May 9, 2023

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

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2021

Revenue

$124,328

Expenses

$75,146

Net Income

$49,182

Net Assets

$949,325

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$90,254	72.6%
Program Services	$0
Investment Income	$698	0.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$33,376	26.8%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$55,750	74.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$950,675
Total Liabilities	$1,350
Net Assets	$949,325

Compensation

Key Employees and Officers	Compensation	Related	Other
Katherine J Albert (Executive Director)	$55,750	$0	$0
Charles Eastman (President)	$0	$0	$0
Thomas G Ratliff (Vice President)	$0	$0	$0
Mark Rewerts (Treasurer)	$0	$0	$0
See List (Directors)	$0	$0	$0

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990

Filed on May 3, 2022

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

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2020

Revenue

$126,736

Expenses

$72,549

Net Income

$54,187

Net Assets

$900,143

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$66,015	52.1%
Program Services	$0
Investment Income	$641	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$60,080	47.4%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$54,250	74.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$913,932
Total Liabilities	$13,789
Net Assets	$900,143

Compensation

Key Employees and Officers	Compensation	Related	Other
Katherine J Albert (Executive Director)	$54,250	$0	$0
Charles Eastman (President)	$0	$0	$0
Thomas G Ratliff (Vice President)	$0	$0	$0
Mark Rewerts (Treasurer)	$0	$0	$0
See List (Directors)	$0	$0	$0

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990

Filed on June 21, 2021

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

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2019

Revenue

$131,484

Expenses

$71,087

Net Income

$60,397

Net Assets

$845,956

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$67,148	51.1%
Program Services	$0
Investment Income	$658	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$63,678	48.4%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$53,021	74.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$847,222
Total Liabilities	$1,266
Net Assets	$845,956

990

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

PDF

Fiscal Year Ending Dec.
2018

Revenue

$91,174

Expenses

$65,569

Net Income

$25,605

Net Assets

$785,559

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$64,985	71.3%
Program Services	$0
Investment Income	$556	0.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$27,762	30.4%
Net Fundraising	$0
Sales of Assets	-$2,129
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$47,593	72.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$786,786
Total Liabilities	$1,227
Net Assets	$785,559

990

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

PDF

Fiscal Year Ending Dec.
2017

Revenue

$86,806

Expenses

$65,046

Net Income

$21,760

Net Assets

$759,954

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$68,835	79.3%
Program Services	$0
Investment Income	$368	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$17,603	20.3%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$46,432	71.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$782,330
Total Liabilities	$22,376
Net Assets	$759,954

990

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

PDF

Fiscal Year Ending Dec.
2016

Revenue

$104,884

Expenses

$63,071

Net Income

$41,813

Net Assets

$738,194

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$72,160	68.8%
Program Services	$0
Investment Income	$392	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$32,332	30.8%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$45,027	71.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$780,457
Total Liabilities	$42,263
Net Assets	$738,194

990

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

PDF

Fiscal Year Ending Dec.
2015

Revenue

$91,171

Expenses

$49,753

Net Income

$41,418

Net Assets

$696,381

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$73,998	81.2%
Program Services	$0
Investment Income	$264	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$16,820	18.4%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$89	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$34,542	69.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$757,572
Total Liabilities	$61,191
Net Assets	$696,381

990

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

PDF

Fiscal Year Ending Dec.
2014

Revenue

-$2,672

Expenses

$79,383

Net Income

-$82,055

Net Assets

$654,963

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$74,755
Program Services	$0
Investment Income	$222
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$6,686
Net Fundraising	$0
Sales of Assets	-$84,335
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$60,375	76.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$733,766
Total Liabilities	$78,803
Net Assets	$654,963

990

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

PDF

Fiscal Year Ending Nov.
2014

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

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

PDF

Fiscal Year Ending Dec.
2013

Revenue

$68,174

Expenses

$86,833

Net Income

-$18,659

Net Assets

$737,018

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$59,997	88.0%
Program Services	$0
Investment Income	$251	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$14,493	21.3%
Net Fundraising	$0
Sales of Assets	-$6,567
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$66,000	76.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$835,191
Total Liabilities	$98,173
Net Assets	$737,018

The IRS has provided extracted financial data for this filing, but has not yet released the source documents.

Fiscal Year Ending Dec.
2012

Revenue

$100,508

Expenses

$86,670

Net Income

$13,838

Net Assets

$755,677

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$71,360	71.0%
Program Services	$0
Investment Income	$366	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$28,782	28.6%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$64,500	74.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$867,938
Total Liabilities	$112,261
Net Assets	$755,677

990

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

PDF

Fiscal Year Ending Dec.
2011

Revenue

$126,326

Expenses

$83,952

Net Income

$42,374

Net Assets

$741,856

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$69,123	54.7%
Program Services	$0
Investment Income	$768	0.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$56,435	44.7%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$63,500	75.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$866,996
Total Liabilities	$125,140
Net Assets	$741,856

990

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

PDF

Fiscal Year Ending Dec.
2010

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

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

PDF

Fiscal Year Ending Dec.
2009

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

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

PDF

Fiscal Year Ending Dec.
2008

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

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

PDF

Fiscal Year Ending Dec.
2007

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

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

PDF

Fiscal Year Ending Dec.
2006

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

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

PDF

Fiscal Year Ending Dec.
2005

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

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

PDF

Fiscal Year Ending Dec.
2004

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

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

PDF

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

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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For those interested in acquiring the original data from the source, here’s where our data comes from:

Raw filing data. Includes EINs and summary financials as structured data.
Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
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.
Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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By Andrea Suozzo, Alec Glassford and Ash Ngu, ProPublica, and Brandon Roberts, Special to ProPublica.
Design by Jeff Frankl. Additional development by Ken Schwencke, Mike Tigas, and Sisi Wei.

E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

Updated March 27, 2025

Kewanee Economic Development Corp

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $228k (2023)

Expenses $78.5k (2023)

Total Assets $1.31M (2023)

Total Liabilities $1.6k (2023)

Tax Filings by Year

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Nov. 2014

No Extracted Financial Data

Document Links

990

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

No Document Links

Fiscal Year Ending Dec. 2012

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2011

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

Revenue

$228k (2023)

Expenses

$78.5k (2023)

Total Assets

$1.31M (2023)

Total Liabilities

$1.6k (2023)

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Nov.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004