Connect Waukegan NFP ConnectLC Con… - Form 990 Financial Data

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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

2021

Legal Domicile

Phone

7733200302

Tax Period

2024-01-01 to 2024-12-31

Connect Waukegan NFP ConnectLC ConnectLakeCounty, founded in 2021, is a small nonprofit in the Community Improvement sector that reported $287K in total revenue in fiscal year 2024. Revenue decreased 11% compared to the prior year. Expenses of $353K exceeded revenue, resulting in a 23% operating deficit.

Mission

Organized?to?help?ensure?that?all?residents?businesses?and?institutions?in?the?community?have?access?to?robust?stable?internet?in?an equitable?reliable?and?sustainable?manner.

Program Service Accomplishments

Program 1

Expenses: $114,398

Digital Literacy and Device Distribution - Dedicated to equipping residents with the knowledge and tools necessary to thrive in a digital world. This includes purchasing and distributing laptops...

Digital Literacy and Device Distribution - Dedicated to equipping residents with the knowledge and tools necessary to thrive in a digital world. This includes purchasing and distributing laptops, tablets, and Chromebooks, as well as delivering structured digital skills training workshops. The program ensures residents not only gain access to devices but also learn how to use them effectively for education, employment, healthcare, and communication.

Program 2

Expenses: $76,958

Outreach and Access - Supports community engagement efforts to raise awareness about digital inclusion resources. Funds are used for organizing and attending outreach events, distributing...

Outreach and Access - Supports community engagement efforts to raise awareness about digital inclusion resources. Funds are used for organizing and attending outreach events, distributing informational materials, coordinating with local partners, and providing direct assistance to residents seeking support with digital connectivity. These activities help ensure that underserved communities are informed and connected to the digital tools and services available to them.

Program 3

Expenses: $16,640

Advocacy and Solution Exploration - Focuses on identifying and promoting long-term strategies to close the digital divide. Funds support policy research, participation in coalitions, and outreach to stakeholders at the local, state, and federal levels. The aim is to influence systemic changes that lead to sustainable digital equity, including funding access, infrastructure development, and inclusive digital policies.

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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 $287,155

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $287,155

Expense Breakdown

Grants Paid $0

Salaries & Benefits $274,764

Fundraising Expenses $95,185

Program Expenses $207,996

Other Expenses $77,771

TOTAL EXPENSES $352,535

Year-over-Year Comparison

	2024	2023	Change
Revenue	$287,155	$323,650	-0.1%
Expenses	$352,535	$328,772	+0.1%
Net Income	$-65,380	$-5,122	+11.8%

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

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

$119,550

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Candace Browdy	Executive Dir.	40.00	Officer	$119,550	$0	$119,550
Dawayne Douglas	Director	5.00	Director	$0	$0	$0
Peggy Talbot	President	20.00	Officer Director	$0	$0	$0
Anne Durot	Treasurer	10.00	Officer Director	$0	$0	$0
David Collins	Director	5.00	Director	$0	$0	$0
David Giordano	Director	5.00	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	$287,155	$352,535	$6,487	$-65,380
2023	$323,650	$328,772	$75,040	$-5,122
2022	$130,000	$190,467	$76,989	$-60,467
2021	$225,000	$87,544	$164,956	$137,456

Connect Waukegan NFP ConnectLC ConnectLakeCounty