LAND OF LINCOLN ECONOMIC DEVELOPME… - Form 990 Financial Data

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2018

Legal Domicile

Principal Officer

SARAH PHALEN

Phone

2176793500

Tax Period

2023-01-01 to 2023-12-31

LAND OF LINCOLN ECONOMIC DEVELOPMENT CORPORATION, founded in 2018, is a community nonprofit in the Community Improvement sector that reported $1.5M in total revenue in fiscal year 2023. Expenses of $1.8M exceeded revenue, resulting in a 20% operating deficit.

Mission

TO PURSUE ECONOMIC PROSPERITY AND GROWTH FOR SANGAMON COUNTY AND THE CITY OF SPRINGFIELD BY CREATING A FINANCIALLY SOUND COMMUNITY ABLE TO ATTRACT NEW BUSINESSES AND SKILLED TALENT, WHILE RETAINING TODAY'S PROFITABLE COMPANIES AND THEIR LOCAL WORKFORCE.

Program Service Accomplishments

Program 1

GREW THE BUSINESS RETENTION AND EXPANSION (BRE) PROGRAM THAT WAS STARTED IN 2021 BY CONDUCITNG OVER 100 MEETINGS IN 2023. AT THE BRE MEETINGS, LLEDC STAFF ALSO WORKS TO ENCOURAGE BUSINESSES TO EXPAND AND CONNECT THEM TO RESOURCES TO ASSIST THEM. THE COMMUNITY MARKETING CAMPAIGN CONTINUES TO BE SUCCESSFUL WITH OVER 3 MILLION VIEWS OF THE DIGITAL MARKETING EFFORTS. WORKERS IN THE COMMUNITY STAYED ENGAGED WITH THE METRO AREA SURPASSING ITS PRE-PANDEMIC EMPLOYMENT LEVELS AND AVERAGE WAGES ALSO SHOWING SIGNIFICANT INCREASES. TOTAL EMPLOYMENT INCREASED 1.7% OVER THE PREVIOUS YEAR AND MORE THAN 2% OVER PRE-PANDEMIC LEVELS. MAJOR INVESTMENTS BEGAN INCLUDING THE GROUNDBREAKING FOR THE $75 MILLION SCHEELS SPORTS COMPLEX AT LEGACY POINTE. THE $800 MILLION DOUBLE BLACK DIAMOND SOLAR DEVELOPMENT CONTIUED CONSTRUCTION WITH COMPLETION EXPECTED IN 2024. NEW PASSENGER AIR SERVICE WAS SECURED WITH BREEZE AIRWAYS STARTING DIRECT FLIGHTS TO TAMPA AND ORLANDO BEGINNING DECEMBER 1ST. STAFF MADE DOZENS OF VISITS WITH NATIONAL SITE SELECTION CONSULTANTS TO GROW THEIR AWARENESS OF THE COMMUNITY IN REGARDS TO BUSINESS ATTRACTION OPPORTUNITIES AND LOCATIONS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,320,000

Program Service Revenue $0

Investment Income $53,723

Other Revenue $126,514

TOTAL REVENUE $1,500,237

Expense Breakdown

Grants Paid $0

Salaries & Benefits $586,513

Fundraising Expenses $0

Other Expenses $1,216,461

TOTAL EXPENSES $1,802,974

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,500,237	$1,565,148	0.0%
Expenses	$1,802,974	$1,742,108	+0.0%
Net Income	$-302,737	$-176,960	+0.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$196,878

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE AIELLO	IMMEDIATE PAST CHAIR	2.00	Officer Director	$0	$0	$0
ED CURTIS	CHAIR	1.00	Officer Director	$0	$0	$0
SARAH PHALEN	TREASURER	2.00	Officer Director	$0	$0	$0
DR CHARLOTTE WARREN	SECRETARY	2.00	Officer Director	$0	$0	$0
SATCH PECORI	DIRECTOR	1.00	Director	$0	$0	$0
DAN DUNGAN	DIRECTOR	1.00	Director	$0	$0	$0
MARITA ZURAITIS	VICE CHAIR	2.00	Officer Director	$0	$0	$0
DAMOND BOATWRIGHT	DIRECTOR	1.00	Director	$0	$0	$0
HY BUNN	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER GILL	DIRECTOR	1.00	Director	$0	$0	$0
JANET GOOCH	DIRECTOR	2.00	Director	$0	$0	$0
AARON GURNSEY	DIRECTOR	1.00	Director	$0	$0	$0
MARK HANNA	DIRECTOR	1.00	Director	$0	$0	$0
GEOFF ISRINGHAUSEN	DIRECTOR	1.00	Director	$0	$0	$0
MARCUS JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
JASON KNOEDLER	DIRECTOR	1.00	Director	$0	$0	$0
GREGG HUMPHREY	DIRECTOR	1.00	Director	$0	$0	$0
RYAN LEVI	DIRECTOR	1.00	Director	$0	$0	$0
BILL BAILEY	DIRECTOR	1.00	Director	$0	$0	$0
MIKE O'SHEA	DIRECTOR	1.00	Director	$0	$0	$0
CLINT PAUL	DIRECTOR	1.00	Director	$0	$0	$0
MIKE MURPHY	DIRECTOR	1.00	Director	$0	$0	$0
ANDY VAN METER	DIRECTOR	1.00	Director	$0	$0	$0
DOMINIC WATSON	DIRECTOR	1.00	Director	$0	$0	$0
RAY WILLIAMS	DIRECTOR	1.00	Director	$0	$0	$0
MISTY BUSCHER	DIRECTOR	1.00	Director	$0	$0	$0
STEVE SCHOEFFEL	DIRECTOR	1.00	Director	$0	$0	$0
TERI MYERS	DIRECTOR	1.00	Director	$0	$0	$0
RYAN MCCRADY	EXECUTIVE DIRECTOR	40.00	Officer	$196,878	$0	$196,878

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	$1,500,237	$1,802,974	$2,322,508	$-302,737
2022	$1,565,148	$1,742,108	$2,327,244	$-176,960
2021	$1,412,439	$1,114,979	$2,374,665	$297,460
2020	$1,407,603	$901,294	$2,027,987	$506,309
2019	$1,419,053	$555,748	$1,672,511	$863,305
2018	$1,286,102	$651,163	$841,706	$634,939

LAND OF LINCOLN ECONOMIC DEVELOPMENT CORPORATION