Illinois Valley Economic Development Corporation

Analysis

Illinois Valley Economic Development Corporation is a registered charity in United States, based in Gillespie, IL. It received its IRS tax-exemption ruling in August 1966, 60 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Illinois Valley Economic Development Corporation reported income of $14.5m and spending of $13.8m, spending 96% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $9.0m to $14.5m (+60%), an average of +17% a year. The sharpest change came in the year to June 2021, when income rose by 37%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Illinois Valley Economic Development Corporation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within IL. Charities of a similar size with the same main cause include Westmoreland County Food Bank Inc ($14.5m), Brazos Valley Food Bank Inc ($14.5m) and Blessings in a Backpack Inc ($14.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 80% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $215k (1.6% of expenses). Other salaries and wages came to $4.8m. At year end it held assets of $10.9m against liabilities of $1.6m, net assets of $9.3m. It reported 320 employees.