INDUSTRIAL COUNCIL OF NEARWEST CHICAGO (EIN 363312341) - 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

1984

Legal Domicile

Principal Officer

MARIA MORAN

Phone

3124213941

Tax Period

2024-01-01 to 2024-12-31

INDUSTRIAL COUNCIL OF NEARWEST CHICAGO, founded in 1984, is a community nonprofit that reported $8.8M in total revenue in fiscal year 2024. Expenses of $10.2M exceeded revenue, resulting in a 16% operating deficit.

Mission

STRENGTHEN COMPANIES IN THE KINZIE INDUSTRIAL CORRIDOR AND FACILITATE ECONOMIC AND COMMUNITY DEVELOPMENT BY PROVIDING SERVICES AND INCUBATOR SPACE.

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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 $1,947,291

Program Service Revenue $6,820,133

Investment Income $21,751

Other Revenue $33,064

TOTAL REVENUE $8,822,239

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,265,406

Fundraising Expenses $530,261

Program Expenses $8,115,776

Other Expenses $6,906,550

TOTAL EXPENSES $10,221,956

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,822,239	$8,612,313	+0.0%
Expenses	$10,221,956	$9,807,637	+0.0%
Net Income	$-1,399,717	$-1,195,324	+0.2%

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

$203,485

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
UNAH CHOI	PRESIDENT	2.00	Officer Director	$0	$0	$0
CALVIN GIN	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
KELLY DEADY	SECRETARY	2.00	Officer Director	$0	$0	$0
TIM GARCIA	TREASURER	2.00	Officer Director	$0	$0	$0
EVERETT BELL	VICE TREASURER	2.00	Officer Director	$0	$0	$0
DAVID AVRAM	MEMBER	2.00	Director	$0	$0	$0
JUAN AYALA	MEMBER	2.00	Director	$0	$0	$0
ANDY BIZUB	MEMBER (THRU MAR 2024)	2.00	Director	$0	$0	$0
HARVEY CAMINS	MEMBER	2.00	Director	$0	$0	$0
MARCIA HUNDT	MEMBER	2.00	Director	$0	$0	$0
SIMONE MITCHELL-PETERSON	MEMBER	2.00	Director	$0	$0	$0
MARIA MORAN	MEMBER	2.00	Director	$0	$0	$0
KIM STAPLETON	MEMBER	2.00	Director	$0	$0	$0
JOSEPH WEIN	MEMBER	2.00	Director	$0	$0	$0
ANDREW WIELGUS	MEMBER (THRU MAR 2024)	2.00	Director	$0	$0	$0
SHOUSHANA YARBROUGH	MEMBER	2.00	Director	$0	$0	$0
EDWARD YOU	MEMBER	2.00	Director	$0	$0	$0
STEVE DEBRETTO	EXECUTIVE DIRECTOR	40.00	Officer	$197,153	$6,332	$203,485
NATALIE SHMULIK	CHIEF STRATEGY AND INCUBATION	40.00	Highest	$158,561	$3,629	$162,190
ROBERT CLIMACK	CHIEF FACILITIES OFFICER	40.00	Highest	$114,771	$0	$114,771
PRISCILLA TORRENCE	CHIEF WORKFORCE DEVELOPMENT	40.00	Highest	$110,323	$2,657	$112,980

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
2024	$8,822,239	$10,221,956	$30,205,467	$-1,399,717
2023	$8,612,313	$9,807,637	$32,080,463	$-1,195,324
2022	$8,831,961	$8,780,452	$34,041,028	$51,509
2021	$7,031,368	$7,467,996	$18,846,941	$-436,628
2020	$3,940,577	$3,688,904	$9,263,428	$251,673
2019	$2,766,729	$1,416,318	$7,726,453	$1,350,411
2018	$3,427,649	$1,028,118	$6,564,004	$2,399,531

INDUSTRIAL COUNCIL OF NEARWEST CHICAGO