GRUNDY DEVELOPMENT CORPORATION CO GRUNDY COUNTY HOUSING AUTHORITY

EIN: 364104384 501(c)(3) Housing & Shelter

MORRIS, IL

Total Revenue
$1,192,866
Total Expenses
$1,023,550
Total Assets
$2,164,392
Net Assets
$1,325,826
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1996
Legal Domicile
IL
Phone
8159426198
Tax Period
2024-01-01 to 2024-12-31

GRUNDY DEVELOPMENT CORPORATION CO GRUNDY COUNTY HOUSING AUTHORITY, founded in 1996, is a community nonprofit in the Housing & Shelter sector that reported $1.2M in total revenue in fiscal year 2024. Expenses of $1.0M left a modest 14% surplus.

Mission

TO PROMOTE THE DEVELOPMENT, ESTABLISHMENT, OR EXPANSION INDUSTRIES, PRIMARILY LOW-INCOME HOUSING, SERVING THE NEEDS OF PEOPLE OF LOW INCOME IN GRUNDY COUNTY, ILLINOIS

Program Service Accomplishments

Program 1
Expenses: $564,435 Revenue: $1,130,076

TO PROMOTE THE DEVELOPMENT, ESTABLISHMENT, OR EXPANSION INDUSTRIES, PRIMARILY LOW-INCOME HOUSING, SERVING THE NEEDS OF PEOPLE OF LOW INCOME IN GRUNDY COUNTY, ILLINOIS. THE OFFICERS AND EMPLOYEES OF...

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TO PROMOTE THE DEVELOPMENT, ESTABLISHMENT, OR EXPANSION INDUSTRIES, PRIMARILY LOW-INCOME HOUSING, SERVING THE NEEDS OF PEOPLE OF LOW INCOME IN GRUNDY COUNTY, ILLINOIS. THE OFFICERS AND EMPLOYEES OF THE COMPANY WILL RAISE CAPITAL THROUGH GIFTS, THE ISSUANCE OF BONDS, IN ADDITION TO APPLYING FOR FEDERAL, STATE, COUNTY, AND LOCAL MUNICIPALITY LOANS AND GRANTS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,130,076
Investment Income $-194
Other Revenue $62,984
TOTAL REVENUE $1,192,866

Expense Breakdown

Grants Paid $0
Salaries & Benefits $510,726
Fundraising Expenses $0
Program Expenses $564,435
Other Expenses $512,824
TOTAL EXPENSES $1,023,550

Year-over-Year Comparison

2024 2023 Change
Revenue $1,192,866 $1,242,175 0.0%
Expenses $1,023,550 $532,045 +0.9%
Net Income $169,316 $710,130 -0.8%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
5
Independent Members
5
Employees
8
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
2
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LAUREN OFFERMAN Vice Chair 0.00
Officer Director
$0 $0 $0
SHANE GILBERTSON Chair 0.00
Officer Director
$0 $0 $0
JC LAWSON Director 0.00
Director
$0 $0 $0
TOM TESDAL Director 0.00
Director
$0 $0 $0
LORI BONAREK Director 0.00
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 No data No data No data No data
2024 $1,192,866 $1,023,550 $2,164,392 $169,316
2023 $1,242,175 $532,045 $1,956,862 $710,130
2022 $108,826 $113,727 $1,182,781 $-4,901
2021 $114,041 $97,161 $1,178,536 $16,880
2020 $118,633 $83,923 $1,170,415 $34,710
2019 $123,001 $89,033 $1,172,431 $33,968
2018 $101,549 $99,690 $1,174,148 $1,859
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