ROCK ISLAND ECONOMIC GROWTH CORPORATION Charity Report

Public IRS 990 nonprofit record

ROCK ISLAND ECONOMIC GROWTH CORPORATION

EIN 36-3267851 · Housing Development, Construction & Management (L20)

What they do

THE MISSION of ROCK ISLAND ECONOMIC GROWTH CORPORATION is to RENOVATE and BUILD NEW SINGLE FAMILY or MULTI-FAMILY HOUSING IN THE MIDWEST REGION; to FOSTER LOW-INCOME HOUSING THAT: ENHANCES THE OVERALL IMAGE and ECONOMIC VITALITY of THE REGION; IMPROVES HOUSING MARKET DYNAMICS IN THE REGION, ESPECIALLY IN ITS OLDER, BLIGHTED NEIGHBORHOODS; ENCOURAGES HOME OWNERSHIP; is COMMITTED to DEVELOPING AFFORDABLE HOUSING; PROMOTES BUILDING CONSTRUCTION and MAINTENANCE, TRAINING of HOMEBUYERS and NEIGHBORHOOD RESIDENTS.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $94.70 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders21 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

40.77%of revenue went to mission work94.7% of expenses · Program services

$43.06spent for every $100 of revenueRevenue covered expenses this year.

2.29%of revenue went to management and office costs5.3% of expenses

$5.65in assets for every $1 spent this yearSome assets cannot be spent right away.

56.9%of its money came from giftsOther money may come from services or investments.

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Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $173,790 for CYNTHIA BERG (CHIEF FINANCIAL OFFICER). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$19,970,238

Mission workProgram services$8,141,96940.77% of revenue94.7% of expenses

ManagementOffice and general costs$457,5522.29% of revenue5.3% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$11,370,71756.94% of revenueShown in gray on the chart

Total expenses$8,599,52143.06% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 94.7% mission · 5.3% management · 0.0% fundraisingTotal expenses: 43.06% of revenue

2023Expense mix: 92.4% mission · 7.6% management · 0.0% fundraisingTotal expenses: 126.24% of revenue

2022Expense mix: 91.1% mission · 8.9% management · 0.0% fundraisingTotal expenses: 212.94% of revenue

2021Expense mix: 90.1% mission · 9.9% management · 0.0% fundraisingTotal expenses: 233.86% of revenue

2020Expense mix: 89.8% mission · 10.2% management · 0.0% fundraisingTotal expenses: 120.00% of revenue

2019Expense mix: 87.2% mission · 12.8% management · 0.0% fundraisingTotal expenses: 126.97% of revenue

2018Expense mix: 89.1% mission · 10.9% management · 0.0% fundraisingTotal expenses: 27.20% of revenue

2017Expense mix: 90.9% mission · 9.1% management · 0.0% fundraisingTotal expenses: 91.02% of revenue

Money in and money out

Revenue$19,970,238

Expenses$8,599,521

Annual surplus $11,370,717 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$8,141,969 · 94.7% of expenses

Management and office costs$457,552 · 5.3% of expenses

See all reported dollar amounts

Revenue$19,970,238

Expenses$8,599,521

Assets$48,614,036

Income$20,303,342

Contributions$11,369,461

Mission work (program services)$8,141,969

Grants given$6,119,520

Average grant$470,732

Management and general$457,552

Executive compensation (total)$479,791

Accounting fees$94,723

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

CYNTHIA BERGCHIEF FINANCIAL OFFICER · 40 hrs/week $173,790Base $154,629 · Other $19,161

BRIAN HOLLENBACKPRESIDENT AND CEO · 40 hrs/week $148,370Base $112,798 · Other $35,572

ANDREW FISHERCONSTRUCTION DIRECTOR · 40 hrs/week $125,988Base $113,392 · Other $12,596

CAREY JORGENSENDIRECTOR OF PROPERTY MANAGEMENT · 40 hrs/week $116,966Base $101,579 · Other $15,387

ELIZABETH PAYNEVICE PRESIDENT · 40 hrs/week $107,227Base $103,330 · Other $3,897

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (21)

CYNTHIA BERGCHIEF FINANCIAL OFFICER

BRIAN HOLLENBACKPRESIDENT AND CEO

ANDREW FISHERCONSTRUCTION DIRECTOR

CAREY JORGENSENDIRECTOR OF PROPERTY MANAGEMENT

ELIZABETH PAYNEVICE PRESIDENT

STEVE OLLENBURGVICE CHAIRPERSON

ALVARO MACIASBOARD MEMBER

STELLA SCHNEEKLOTHBOARD MEMBER

SHELLY TUCCIARELLIBOARD MEMBER

SHELLEY SHEEHYBOARD MEMBER

RYAN HATTENBOARD MEMBER

PHYLLIS SCHWINDTSECRETARY

LOREDIA NUNN-DIXONBOARD MEMBER

LINDSEY RAMOSBOARD MEMBER

KATHY SPRINGERCHAIRPERSON

JANE SCHNEIDERTREASURER/PAST CHAIRPERSON

DENISE ISAACBOARD MEMBER

DARRYL THOMPSONBOARD MEMBER

DAMITA DAVIS-WRENBOARD MEMBER

AMY JONESFORMER BOARD MEMBER

AMETRA CARROLBOARD MEMBER

About this charity

Recognized since: January 1999
Location: 371 3RD ST W, MILAN, IL 61264-2453
County: Rock Island
In care of: BRIAN HOLLENBACK
Primary officer: BRIAN HOLLENBACK, PRESIDENT & CEO

How to reach them

WebsiteVisit the charity’s website Emailinfo@growthcorp.org Phone(309) 794-6711

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: RSM US LLP
NTEE classification: Housing Development, Construction & Management (L20)
IRS tax category: Housing Development, Construction & Management
Grant-giving organization: Yes