KNOX COUNTY DEVELOPMENT CORPORATION

EIN: 371046950

GALESBURG, IL

Total Revenue
$19,265
Total Expenses
$7,204
Total Assets
$1,233,036
Net Assets
$945,137
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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
1977
Legal Domicile
IL
Principal Officer
KENNETH SPRINGER
Phone
3093431194
Tax Period
2024-01-01 to 2024-12-31

KNOX COUNTY DEVELOPMENT CORPORATION, founded in 1977, is a micro nonprofit that reported $19K in total revenue in fiscal year 2024. The organization ran a surplus of $12K, a strong 63% operating margin.

Mission

TO PROMOTE ECONOMIC DEVELOPMENT IN KNOX COUNTY, ILLINOIS.

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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 $19,202
Investment Income $63
Other Revenue $0
TOTAL REVENUE $19,265

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $7,204
TOTAL EXPENSES $7,204

Year-over-Year Comparison

2024 2023 Change
Revenue $19,265 $19,267 0.0%
Expenses $7,204 $7,536 0.0%
Net Income $12,061 $11,731 +0.0%
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

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Governance

Voting Members
14
Independent Members
14
Employees
N/A
Volunteers
14

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
4
$141,615
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ADAM VITALE BOARD CHAIR 0.25
Officer Director
$0 $0 $0
JOSH GIBB BOARD VICE CHAIR 0.25
Officer Director
$0 $0 $0
C ANDREW MCGADNEY BOARD TREASURER 0.25
Officer Director
$0 $0 $0
JOHN PRITCHARD BOARD MEMBER 0.25
Director
$0 $0 $0
BECKY KING BOARD MEMBER 0.25
Director
$0 $0 $0
SARA YEMM-WITHERELL BOARD MEMBER 0.25
Director
$0 $0 $0
SEAMUS REILLY BOARD MEMBER 0.25
Director
$0 $0 $0
DOUG HANKES BOARD MEMBER (FROM NOVEMBER 2024) 0.25
Director
$0 $0 $0
DOUG SANDERS BOARD MEMBER (FROM NOVEMBER 2024) 0.25
Director
$0 $0 $0
MARSHALL SCHRADER BOARD MEMBER (FROM NOVEMBER 2024) 0.25
Director
$0 $0 $0
JOHN ASPLUND BOARD MEMBER (FROM NOVEMBER 2024) 0.25
Director
$0 $0 $0
ERIC HANSON BOARD MEMBER 0.25
Director
$0 $0 $0
PETER SCHWARTZMAN BOARD MEMBER 0.25
Director
$0 $0 $0
JARED HAWKINSON BOARD MEMBER 0.25
Director
$0 $0 $0
KEN SPRINGER PRESIDENT 1.00
Officer
$0 $11,835 $141,615
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 $19,265 $7,204 $1,233,036 $12,061
2023 $19,267 $7,536 $1,220,975 $11,731
2022 $20,972 $8,683 $1,209,299 $12,289
2021 $27,815 $14,883 $1,197,005 $12,932
2020 $25,611 $13,415 $1,184,025 $12,196
2019 $25,762 $13,898 $1,173,286 $11,864
2018 $26,180 $13,597 $1,159,965 $12,583
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