ILLINOIS TAX INCREMENT ASSOCIATION (EIN 363543897) - 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

1987

Legal Domicile

Principal Officer

MICHAEL ARMSTRONG

Phone

2175234905

Tax Period

2024-07-01 to 2025-06-30

ILLINOIS TAX INCREMENT ASSOCIATION, founded in 1987, is a small nonprofit that reported $262K in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. The organization ran a surplus of $42K, a strong 16% operating margin.

Mission

IMPROVING AND EXPANDING THE USE OF TAX INCREMENT FINANCING AND THE USE OF OTHER STATE AND FEDERAL TAX INCENTIVES. WITH THE INTENT OF FOSTERING SOUND ECONOMIC GROWTH IN THE STATE OF ILLINOIS, ITIA PROVIDES ITS MEMBERS WITH NUMEROUS OPPORTUNITIES FOR PROFESSIONAL DIALOGUE, EDUCATION AND EXCHANGE OF INFORMATION. IT DOES THIS THROUGH ITS CONFERENCES, ITS QUARTERLY NEWSLETTER AND LEGISLATIVE ALERTS, AND AN INFORMATIVE WEBSITE, AS WELL AS OTHER PUBLICATIONS, WORKSHOPS, SEMINARS, AND EVENTS OF INTEREST TO THE MEMBERSHIP.

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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 $261,740

Investment Income $0

Other Revenue $0

TOTAL REVENUE $261,740

Expense Breakdown

Grants Paid $0

Salaries & Benefits $91,595

Fundraising Expenses $0

Other Expenses $128,145

TOTAL EXPENSES $219,740

Year-over-Year Comparison

	2024	2023	Change
Revenue	$261,740	$230,208	+0.1%
Expenses	$219,740	$201,058	+0.1%
Net Income	$42,000	$29,150	+0.4%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL ARMSTRONG	PRESIDENT	2.00	Officer Director	$0	$0	$0
NATHAN BRUCK	DIRECTOR	2.00	Director	$0	$0	$0
TERRY BRUCKERT	VICE PRESIDE	2.00	Officer Director	$0	$0	$0
GEOFFREY DICKINSON	DIRECTOR	2.00	Director	$0	$0	$0
LARRY DOMINICK	DIRECTOR	2.00	Director	$0	$0	$0
GINO GALLUZZO	DIRECTOR	2.00	Director	$0	$0	$0
TODD HULL	DIRECTOR	2.00	Director	$0	$0	$0
GREG HUMMEL	DIRECTOR	2.00	Director	$0	$0	$0
DANIEL KLEISS	DIRECTOR	2.00	Director	$0	$0	$0
PHIL MCKENNA	DIRECTOR	2.00	Director	$0	$0	$0
DEBBIE VAN SICKLE	SECRETARY	2.00	Director	$0	$0	$0
CRAIG SMITH	DIRECTOR	2.00	Director	$0	$0	$0
STACI SPRINGER	SECRETARY	2.00	Director	$0	$0	$0
ADAM STROUD	TREASURER	2.00	Officer Director	$0	$0	$0

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	$261,740	$219,740	$142,902	$42,000
2023	$243,670	$255,270	$15,598	$-11,600
2022	$244,799	$251,143	$23,706	$-6,344
2021	$247,355	$206,342	$31,457	$41,013
2020	$218,278	$245,603	$29,498	$-27,325
2019	$268,463	$261,196	$16,082	$7,267

ILLINOIS TAX INCREMENT ASSOCIATION