DOWNERS GROVE ECONOMIC DEVELOPMENT CORPORATION (EIN 870772222) - Form 990 Financial Analysis & Trantor Score

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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

2006

Legal Domicile

Principal Officer

BRYAN GAY

Phone

6307290380

Tax Period

2024-01-01 to 2024-12-31

DOWNERS GROVE ECONOMIC DEVELOPMENT CORPORATION, founded in 2006, is a small nonprofit in the Community Improvement sector that reported $720K in total revenue in fiscal year 2024. Expenses of $694K left a modest 4% surplus.

Mission

TO ENHANCE THE ECONOMIC VITALITY AND ATTRACT NEW BUSINESS TO THE VILLAGE OF DOWNERS GROVE

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $595,000

Program Service Revenue $116,724

Investment Income $7,814

Other Revenue $0

TOTAL REVENUE $719,538

Expense Breakdown

Grants Paid $0

Salaries & Benefits $414,718

Fundraising Expenses $0

Program Expenses $596,506

Other Expenses $279,232

TOTAL EXPENSES $693,950

Year-over-Year Comparison

	2024	2023	Change
Revenue	$719,538	$678,276	+0.1%
Expenses	$693,950	$623,806	+0.1%
Net Income	$25,588	$54,470	-0.5%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$167,723

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT L FERNANDEZ	DIRECTOR & C	1.00	Officer Director	$0	$0	$0
KEN MALINOWSKI	DIRECTOR/VIC	1.00	Officer Director	$0	$0	$0
MICHAEL RIORDAN	DIRECTOR	0.20	Director	$0	$0	$0
SCOTT MILLER	DIRECTOR	0.20	Director	$0	$0	$0
JOHN LUKA	DIRECTOR	0.20	Director	$0	$0	$0
MARK COSENZA	DIRECTOR	0.20	Director	$0	$0	$0
LORI RITZERT	DIRECTOR/TRE	1.00	Director	$0	$0	$0
BETH GONCHER	DIRECTOR	0.20	Director	$0	$0	$0
KATHLEEN GOEPPINGER PHD	DIRECTOR	0.20	Director	$0	$0	$0
GARY MORI	DIRECTOR	0.20	Director	$0	$0	$0
RICHARD M GATTO	DIRECTOR	0.20	Director	$0	$0	$0
EDWARD SITAR III	DIRECTOR	0.20	Director	$0	$0	$0
DR MAUREEN DUNNE	DIRECTOR	0.20	Director	$0	$0	$0
ERIN VENEZIA	DIRECTOR	0.20	Director	$0	$0	$0
LISA RASIN	DIRECTOR	0.20	Director	$0	$0	$0
JENNIFER SCHINKE	DIRECTOR	0.20	Director	$0	$0	$0
ALLISON WYLER	DIRECTOR	0.20	Director	$0	$0	$0
ROBERT BARNETT	DIRECTOR	0.20	Director	$0	$0	$0
DAVID FIELDMAN	DIRECTOR	0.20	Director	$0	$0	$0
MICHAEL BAKER	DIRECTOR	0.20	Director	$0	$0	$0
FADI OSMANO	DIRECTOR	0.20	Director	$0	$0	$0
BRYAN GAY	PRESIDENT &	40.00	Officer	$155,299	$12,424	$167,723
CHRIS GILMARTIN	DIRECTOR	0.20	Director	$0	$0	$0
THERESA SCHULZ	DIRECTOR/SEC	1.00	Officer Director	$0	$0	$0
MARY LYNN FAYOUMI	DIRECTOR	N/A	Director	$0	$0	$0
THOMAS BECKMANN	DIRECTOR	0.20	Director	$0	$0	$0
CLAUDIO GUTIERREZ	DIRECTOR	0.20	Director	$0	$0	$0
MARC IOZZO	DIRECTOR	0.20	Director	$0	$0	$0
ERIC RHODES	DIRECTOR	0.20	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
2024	$719,538	$693,950	$594,122	$25,588
2023	$678,276	$623,806	$591,459	$54,470
2022	$477,738	$475,973	$557,515	$1,765
2021	$564,179	$543,598	$265,224	$20,581
2020	$595,862	$487,356	$244,643	$108,506

DOWNERS GROVE ECONOMIC DEVELOPMENT CORPORATION