ROCKFORD LOCAL DEVELOPMENT CORPORATION (EIN 363038678) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1979

Legal Domicile

Principal Officer

JOHN PHELPS

Phone

8159878675

Tax Period

2024-10-01 to 2025-09-30

ROCKFORD LOCAL DEVELOPMENT CORPORATION, founded in 1979, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2024. Expenses of $1.3M exceeded revenue, resulting in a 13% operating deficit.

Mission

TO ADVANCE THE COMMERCIAL, INDUSTRIAL AND GENERAL WELFARE OF THE CITY OF ROCKFORD, ILLINOIS AND NORTHERN ILLINOIS AND TO ASSIST IN DEVELOPING AND IMPLEMENTING STRATEGIES TO STIMULATE BUSINESS DEVELOPMENT

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,113,608

Investment Income $1,131

Other Revenue $0

TOTAL REVENUE $1,114,739

Expense Breakdown

Grants Paid $0

Salaries & Benefits $742,440

Fundraising Expenses $0

Other Expenses $512,732

TOTAL EXPENSES $1,255,172

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,114,739	$1,052,933	+0.1%
Expenses	$1,255,172	$1,073,227	+0.2%
Net Income	$-140,433	$-20,294	+5.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$200,606

Total Directors

$200,606

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KARL SWANSON	CHAIR	1.00	Officer Director	$0	$0	$0
MICHAEL SCHULTZ	VICE CHAIR	1.00	Officer Director	$0	$0	$0
J DANIEL O'BOYLE	SECRETARY	1.00	Officer Director	$0	$0	$0
LESLY COOPER	ASSISTANT SE	1.00	Officer Director	$0	$0	$0
BRIAN PETERSON	TREASURER	1.00	Officer Director	$0	$0	$0
TODD CAGNONI	ASSISTANT TR	1.00	Officer Director	$0	$0	$0
JEFF FAHRENWALD	DIRECTOR	1.00	Director	$0	$0	$0
LINDA HECKERT	PAST CHAIR	1.00	Officer Director	$0	$0	$0
AUDRA MONCUR	DIRECTOR	1.00	Director	$0	$0	$0
KAREN WALSH	DIRECTOR	1.00	Director	$0	$0	$0
MICHELE PETRIE	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT YOUNG	DIRECTOR	1.00	Director	$0	$0	$0
ED MUNGUIA	DIRECTOR	1.00	Director	$0	$0	$0
JOHN PHELPS	EXECUTIVE DI	35.00	Officer Director	$177,344	$23,262	$200,606

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$1,114,739	$1,255,172	$5,225,946	$-140,433
2024	$1,052,933	$1,073,227	$4,737,897	$-20,294
2023	$1,914,300	$1,124,522	$3,867,454	$789,778
2022	$1,498,474	$869,220	$2,794,433	$629,254
2021	$1,268,852	$797,579	$1,946,396	$471,273
2020	$954,486	$835,195	$1,534,022	$119,291

ROCKFORD LOCAL DEVELOPMENT CORPORATION