ILLINOIS BUSINESS AND ECONOMIC DEVELOPMENT CORP DBA ILLINOIS ECONOMIC D Charity Report

Public IRS 990 nonprofit record

ILLINOIS BUSINESS AND ECONOMIC DEVELOPMENT CORP DBA ILLINOIS ECONOMIC D

EIN 81-1265157 · Economic Development (S30)

What they do

to BRING NEW JOBS, INVESTMENT and ECONOMIC PROSPERITY to THE STATE of ILLINOIS THROUGH DYNAMIC PARTNERSHIPS and COLLABORATIONS WITH COMPANIES, UNIVERSITIES, NON-FOR-PROFIT ORGANIZATIONS and THE GOVERNMENT to DELIVER A UNIFIED APPROACH to ECONOMIC DEVELOPMENT.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $51.60 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 leaders60 people are listed in the latest report.

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

Money made simple

41.46%of revenue went to mission work51.6% of expenses · Program services

4.45%of revenue went to fundraising5.5% of expenses

$80.30spent for every $100 of revenueRevenue covered expenses this year.

34.38%of revenue went to management and office costs42.8% of expenses

$0.75in assets for every $1 spent this yearSome assets cannot be spent right away.

100.0%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

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 $275,000 for CHRISTY GEORGE (CHIEF EXECEUTIVE 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$8,164,220

Mission workProgram services$3,385,26341.46% of revenue51.6% of expenses

ManagementOffice and general costs$2,807,05234.38% of revenue42.8% of expenses

FundraisingAsking for donations$363,3904.45% of revenue5.5% of expenses

Revenue left after expensesReported annual surplus$1,608,51519.70% of revenueShown in gray on the chart

Total expenses$6,555,70580.30% 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: 51.6% mission · 42.8% management · 5.5% fundraisingTotal expenses: 80.30% of revenue

2023Expense mix: 25.5% mission · 42.0% management · 32.5% fundraisingTotal expenses: 88.53% of revenue

2022Expense mix: 41.2% mission · 23.4% management · 35.5% fundraisingTotal expenses: 104.42% of revenue

2021Expense mix: 48.1% mission · 21.7% management · 30.3% fundraisingTotal expenses: 80.23% of revenue

2020Expense mix: 28.6% mission · 29.4% management · 42.1% fundraisingTotal expenses: 84.16% of revenue

2019Expense mix: 27.3% mission · 27.4% management · 45.3% fundraisingTotal expenses: 116.63% of revenue

2018Expense mix: 27.0% mission · 30.6% management · 42.5% fundraisingTotal expenses: 148.92% of revenue

2017Expense mix: 43.0% mission · 23.3% management · 33.7% fundraisingTotal expenses: 76.64% of revenue

Money in and money out

Revenue$8,164,220

Expenses$6,555,705

Annual surplus $1,608,515 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)$3,385,263 · 51.6% of expenses

Management and office costs$2,807,052 · 42.8% of expenses

Fundraising$363,390 · 5.5% of expenses

See all reported dollar amounts

Revenue$8,164,220

Expenses$6,555,705

Assets$4,917,684

Income$8,171,573

Contributions$8,164,131

Mission work (program services)$3,385,263

Fundraising$363,390

Management and general$2,807,052

Executive compensation (total)$463,950

Accounting fees$52,000

Investing fees$12,100

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

CHRISTY GEORGECHIEF EXECEUTIVE OFFICER · 40 hrs/week $275,000

DANIEL SEALSFORMER CHIEF EXECUTIVE OFFICER · 40 hrs/week $171,793

PAULINA SAN MILIANSENIOR VP BUSINESS DEVELOPMENT · 40 hrs/week $170,025

PREETI CHALSANICHIEF SENIOR VP QUANTUM · 40 hrs/week $150,519

ROBERT STEPHANFORMER VP OF COMMUNITY RELATIONS/DEVELOPMENT · 40 hrs/week $140,218

KAITLYN MCDERMOTTVICE PRESIDENT, ADMIN/OPERATING · 40 hrs/week $124,280

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 (60)

CHRISTY GEORGECHIEF EXECEUTIVE OFFICER

DANIEL SEALSFORMER CHIEF EXECUTIVE OFFICER

PAULINA SAN MILIANSENIOR VP BUSINESS DEVELOPMENT

PREETI CHALSANICHIEF SENIOR VP QUANTUM

ROBERT STEPHANFORMER VP OF COMMUNITY RELATIONS/DEVELOPMENT

KAITLYN MCDERMOTTVICE PRESIDENT, ADMIN/OPERATING

MARK DENZLERDIRECTOR

MICHAEL SCHILLDIRECTOR

MICHAEL SACKSDIRECTOR

MICHAEL REINSDORFDIRECTOR

MICHAEL JACOBSONDIRECTOR

MICHAEL FASSNACHTDIRECTOR

MARTIN CABRERADIRECTOR

KIRK DILLARDDIRECTOR

MARIA BOCANEGRADIRECTOR

LISA FREEMANDIRECTOR

LENNY SINGHDIRECTOR

KRISTOF TERRYNDIRECTOR

KATE WAIMEY TIMMERMANDIRECTOR

MICHELLE CARRDIRECTOR

PAUL ALIVISATOSDIRECTOR

PIN NIDIRECTOR

RASHOD JOHNSONDIRECTOR

REBECCA LOSLIDIRECTOR

RICHARD DEMIRJIANDIRECTOR

RICHARD PRICEDIRECTOR

ROBERT SEHRINGDIRECTOR

SHEILA QUIRK-BAILEYDIRECTOR

SMITA N SHAHDIRECTOR

TIM KILLEENDIRECTOR

WENDELL DALLASDIRECTOR

ZALDWAYNAKA Z SCOTT ESQDIRECTOR

GIL QUINIONESDIRECTOR

BRETT HARTDIRECTOR

BRIAN D WOLFEDIRECTOR

CARMEN ROSSIDIRECTOR

CHIP JORSTADDIRECTOR

CHRIS GLADWINDIRECTOR

CHRIS SMITHDIRECTOR

CURT BAILEYDIRECTOR

DAN MAHONEYDIRECTOR

DAVID BOULAYDIRECTOR

DAVID NAMKUNGDIRECTOR

DAVID REIFMANDIRECTOR

EILEEN MITCHELLDIRECTOR

ELIZABETH BUCHANANDIRECTOR

KEVIN WARRENDIRECTOR

GREGORY CASEDIRECTOR

HARDIK BHATTDIRECTOR

JACK LAVINDIRECTOR

JAMES LEONARDDIRECTOR

JAMES REYNOLDS JRDIRECTOR

JEFFREY BAKERDIRECTOR

JEREMY OBRIENDIRECTOR

JOE DOMINGUEZDIRECTOR

JOHN ATKINSONCHAIRMAN

JOHN HOLMESDIRECTOR

JOHN LYONSDIRECTOR

JUAN LUCIANODIRECTOR

BRAD HENDERSONDIRECTOR

About this charity

Recognized since: January 2016
Location: 230 W MONROE ST STE 330, CHICAGO, IL 60606-4701
County: Cook
In care of: % REGISTERED AGENT SOLUTIONS INC
Primary officer: CHRISTY GEORGE, CEO

How to reach them

WebsiteVisit the charity’s website Phone(312) 667-6010

Filing and classification

Latest tax year: 2024
Tax period began: July 1, 2024
Return type: 990
Tax preparer: DHJJ LTD
NTEE classification: Economic Development (S30)
IRS tax category: Economic Development