KNOX COUNTY AREA PARTNERSHIP FOR ECONOMIC DEVELOPMENT NFP

EIN: 371356170

GALESBURG, IL

Total Revenue
$305,352
Total Expenses
$305,711
Total Assets
$883,796
Net Assets
$749,078
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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
1996
Legal Domicile
IL
Principal Officer
KENNETH J SPRINGER
Phone
3093431194
Tax Period
2023-01-01 to 2023-12-31

KNOX COUNTY AREA PARTNERSHIP FOR ECONOMIC DEVELOPMENT NFP, founded in 1996, is a small nonprofit that reported $305K in total revenue in fiscal year 2023. Net assets of $749K represent 29 months of operating reserves.

Mission

PROVIDE LEADERSHIP FOR ECONOMIC GROWTH AND PROSPERITY IN THE KNOX COUNTY ILLINOIS REGIONAL AREA.

Program Service Accomplishments

Program 1
Expenses: $192,501

WORK WITH PRIVATE AND PUBLIC SECTOR INVESTORS WHO COLLABORATE TO ENHANCE WEALTH CREATION BY MARKETING OUR REGION AND HELPING EMPLOYERS RETAIN AND CREATE QUALITY JOBS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $95,978
Program Service Revenue $196,900
Investment Income $11,844
Other Revenue $630
TOTAL REVENUE $305,352

Expense Breakdown

Grants Paid $0
Salaries & Benefits $221,119
Fundraising Expenses $0
Program Expenses $192,501
Other Expenses $84,592
TOTAL EXPENSES $305,711

Year-over-Year Comparison

2023 2022 Change
Revenue $305,352 $290,693 +0.1%
Expenses $305,711 $303,146 +0.0%
Net Income $-359 $-12,453 -1.0%
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
10
Independent Members
10
Employees
2
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
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LISA DEKEZEL DIRECTOR N/A
Director
$0 $0 $0
JOSH GIBB TREASURER N/A
Director
$0 $0 $0
ERIC HANSON DIRECTOR N/A
Director
$0 $0 $0
JARED HAWKINSON DIRECTOR N/A
Director
$0 $0 $0
REBECCA KING DIRECTOR N/A
Director
$0 $0 $0
C ANDREW MCGADNEY DIRECTOR N/A
Director
$0 $0 $0
DOUG SANDERS DIRECTOR N/A
Director
$0 $0 $0
PETER SCHWARTZMAN DIRECTOR N/A
Director
$0 $0 $0
CANDY WEBB VICE CHAIR N/A
Director
$0 $0 $0
JOHN PRITCHARD CHAIR N/A
Officer
$0 $0 $0
KENNETH J SPRINGER PRESIDENT N/A
Officer
$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
2024 No data No data No data No data
2023 $305,352 $305,711 $883,796 $-359
2022 $290,693 $303,146 $893,665 $-12,453
2021 $335,651 $287,013 $770,718 $48,638
2020 $261,899 $322,664 $731,459 $-60,765
2019 $311,701 $272,429 $784,934 $39,272
2018 $303,121 $313,554 $750,614 $-10,433
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