LAND OF LINCOLN ECONOMIC DEVELOPMENT CORPORATION

EIN: 824479816 Community Improvement

SPRINGFIELD, IL

Total Revenue
$1,500,237
Total Expenses
$1,802,974
Total Assets
$2,322,508
Net Assets
$1,822,316
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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
2018
Legal Domicile
IL
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 $1.3M in total revenue in fiscal year 2018. The organization ran a surplus of $635K, a strong 49% operating margin.

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 THE PROFITABLE COMPANIES AND LOCAL WORKFORCE WHO ALREADY MAKE SANGAMON COUNTY THEIR HOME.

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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 $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
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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
28
Independent Members
28
Employees
4
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
6
$196,878
Total Directors
28
$0
Key Employees
0
$0
Highest Compensated
0
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
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