Nonprofit · EIN 37-1119582
ILLINOIS SMALL BUSINESS GROWTH CORPORATION
Tax-exempt · SPRINGFIELD, IL 62704
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | $9,309,985 | $9,296,280 | $13,705 | $3,232,254 | $1,967,117 | $1,265,137 |
| September 30, 2024 | 990 | $8,989,595 | $8,981,334 | $8,261 | $3,272,579 | $2,021,147 | $1,251,432 |
| September 30, 2023 | 990 | $8,060,894 | $8,060,999 | -$105 | $3,259,531 | $2,016,360 | $1,243,171 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $175,000
- of which government grants
- $175,000
- Program service revenue
- $9,038,255
- Investment income
- $96,730
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $5,309,667
- Salaries, compensation and benefits (total)
- $7,418,956
- Professional fundraising fees
- $0
- Legal fees
- $85,806
- Accounting fees
- $58,100
- Occupancy
- $285,120
- Depreciation
- $28,263
Balance sheet and other
- Total assets, start of year
- $3,272,579
- Total assets, end of year
- $3,232,254
- Total liabilities, end of year
- $1,967,117
- Net assets, end of year
- $1,265,137
- Land, buildings and equipment
- $93,922
- Net assets without donor restrictions
- $1,265,137
- Gross receipts
- $9,309,985
- Employees
- 33
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended September 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOEL HERSCHER | VP / LOAN OF Key employee | 40 | $605,000 | $17,500 |
| DOUGLAS KINLEY | PRESIDENT Trustee or director, Officer | 40 | $455,000 | $17,500 |
| DAVID NOVAK | CFO Officer | 40 | $355,000 | $17,500 |
| STEVE KIRBY | VP / LOAN OF Key employee | 40 | $335,000 | $16,750 |
| SARA VANHALA | DIRECTOR OF Key employee | 40 | $265,000 | $13,250 |
| BENJAMIN KREIGER | CHIEF CREDIT Key employee | 40 | $240,000 | $12,000 |
| RYAN O'NEILL | LOAN OFFICER Key employee | 40 | $217,000 | $10,850 |
| PHIL MATON | CHIEF CREDIT Key employee | 40 | $205,000 | $10,250 |
| KATHLEEN LENT | VP / RELATIO Highest-paid employee | 40 | $190,000 | $9,500 |
| RANDY NEUMANN | PORTFOLIO MA Highest-paid employee | 40 | $190,000 | $9,500 |
| GREGG KYES | CHIEF TECH O Key employee | 40 | $180,000 | $9,000 |
| MESLISSA VARHEGYI | VP/RELATION Highest-paid employee | 40 | $143,500 | $7,175 |
| SHANNON CRAWFORD | EMPLOYEE Highest-paid employee | 40 | $122,500 | $0 |
| KATELYN DUNN | EMPLOYEE Highest-paid employee | 40 | $106,500 | $5,325 |
| JERRY FURBY | CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
7 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| THOMAS GRIFFITH | TREASURER Trustee or director, Officer | 2 | $0 |
| JOHN ALLEN | DIRECTOR Trustee or director | 2 | $0 |
| CARTER HUHTA | DIRECTOR Trustee or director | 2 | $0 |
| DONALD BROOKHART | SECRETARY Trustee or director, Officer | 2 | $0 |
| MARY MIDIRI | DIRECTOR Trustee or director | 2 | $0 |
| MARK PAPOCCIA | DIRECTOR Trustee or director | 2 | $0 |
| MICHAEL MILLIGAN | DIRECTOR Trustee or director | 2 | $0 |
990 for the year ended September 30, 2024: 22 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOEL HERSCHER | VP / LOAN OF Key employee | 40 | $531,833 | $17,250 |
| DOUGLAS L KINLEY | PRESIDENT Officer | 40 | $400,000 | $16,750 |
| STEVE KIRBY | VP / LOAN OF Key employee | 40 | $322,625 | $11,288 |
| DAVID NOVAK | CFO Officer | 40 | $285,000 | $12,188 |
| BENJAMIN KRIEGER | CHIEF CREDIT Key employee | 40 | $215,000 | $8,500 |
| RYAN O'NEILL | LOAN OFFICER Key employee | 40 | $196,047 | $9,225 |
| SARA VANHALA | DIRECTOR MAR Key employee | 40 | $179,167 | $9,000 |
| PHIL MATON | CHIEF CREDIT Key employee | 40 | $180,000 | $7,250 |
| GREGG KYES | CHIEF TECH O Key employee | 40 | $180,000 | $6,650 |
| KATHLEEN LENT | VP/RELATION Highest-paid employee | 40 | $170,000 | $6,625 |
| RANDY NEUMANN | PORTFOLIO MA Highest-paid employee | 40 | $154,167 | $6,625 |
| MELISSA VARHEGYI | VP/RELATION Highest-paid employee | 40 | $140,000 | $5,150 |
| SHANNON CRAWFORD | – Highest-paid employee | 40 | $120,000 | $4,588 |
| STEVE LINDSEY | LOAN OFFICER Highest-paid employee | 40 | $101,400 | $4,540 |
| JERRY FURBY | CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| THOMAS GRIFFITH | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| JOHN ALLEN | DIRECTOR Trustee or director | 2 | $0 | $0 |
| CARTER HUHTA | DIRECTOR Trustee or director | 2 | $0 | $0 |
| DONALD BROOKHART | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| MARY MIDIRI | DIRECTOR Trustee or director | 2 | $0 | $0 |
| MARK PAPOCCIA | DIRECTOR Trustee or director | 2 | $0 | $0 |
| MICHAEL MILLIGAN | DIRECTOR Trustee or director | 2 | $0 | $0 |
990 for the year ended September 30, 2023: 16 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOEL HERSCHER | VP / LOAN OF Highest-paid employee | 40 | $530,000 | $7,500 |
| DOUGLAS L KINLEY | PRESIDENT Officer | 40 | $400,000 | $15,250 |
| STEVE KIRBY | VP / LOAN OF Highest-paid employee | 40 | $386,218 | $13,069 |
| DAVID NOVAK | CFO Officer | 40 | $250,000 | $13,250 |
| BENJAMIN KRIEGER | CHIEF CREDIT Highest-paid employee | 40 | $209,000 | $10,250 |
| GREGG KYES | CHIEF TECH O Highest-paid employee | 40 | $170,000 | $9,000 |
| PHIL MATON | CHIEF CREDIT Highest-paid employee | 40 | $170,000 | $9,000 |
| JERRY FURBY | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| THOMAS GRIFFITH | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| JOHN ALLEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CARTER HUHTA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DONALD BROOKHART | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| RICK HANSELMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARY MIDIRI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARK PAPOCCIA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL MILLIGAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2401 W WHITE OAKS DR, SPRINGFIELD, IL 62704-6563
- Principal officer (990 for 2024)
- DAVID NOVAK
- Signed the 990
- DAVID NOVAK, CFO
- Website
- WWW.GROWTHCORP.COM
- Return prepared by
- RMSCI INC (DBA THE LEDGE)
Mission
TO FURTHER ECONOMIC DEVEOLPMENT BY PROMOTING AND ASSISTING THE GROWTH, DEVELOPMENT, AND EXPANSION OF BUSINESS CONCERNS THROUGHOUT THE STATE OF ILLINOIS AND ADJACENT LOCAL ECONOMIC AREAS
Program accomplishments
- CERTIFIED DEVELOPMENT COMPANY FOR US SMALL BUSINESS ADMINISTRATION SECTION 504 LOANS
- CERTIFIED DEVELOPMENT COMPANY FOR US SMALL BUSINESS ADMINISTRATION SECTION 504 LOANS
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 16, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 17, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 18, 2025 | 990 on file |
IRS record
- EIN
- 37-1119582
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1984
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $3,232,254
- Income (IRS master file)
- $9,309,985
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | $9,309,985 | $9,296,280 | $3,232,254 | IRS |
| 990 | September 2024 | $8,989,595 | $8,981,334 | $3,272,579 | XML |
| 990 | September 2023 | $8,060,894 | $8,060,999 | $3,259,531 | XML |
| 990 | September 2022 | $7,890,542 | $7,880,914 | $2,478,514 | IRS |
| 990 | September 2021 | – | – | – | IRS |
| 990 | September 2020 | – | – | – | IRS |
| 990 | September 2019 | – | – | – | IRS |
| 990 | September 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 37-1119582).
Questions about ILLINOIS SMALL BUSINESS GROWTH CORPORATION
- What is the EIN of ILLINOIS SMALL BUSINESS GROWTH CORPORATION?
- The employer identification number (EIN) of ILLINOIS SMALL BUSINESS GROWTH CORPORATION is 37-1119582.
- Is ILLINOIS SMALL BUSINESS GROWTH CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1984.
- Are donations to ILLINOIS SMALL BUSINESS GROWTH CORPORATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does ILLINOIS SMALL BUSINESS GROWTH CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ILLINOIS SMALL BUSINESS GROWTH CORPORATION due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 16, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ILLINOIS SMALL BUSINESS GROWTH CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2025.
- Who is the principal officer of ILLINOIS SMALL BUSINESS GROWTH CORPORATION?
- The 990 for the year ended September 30, 2025 names DAVID NOVAK.
- Who are the officers and directors of ILLINOIS SMALL BUSINESS GROWTH CORPORATION?
- The 990 for the year ended September 30, 2025 lists 22 people; 14 received compensation from the organization, the highest $605,000 (JOEL HERSCHER, VP / LOAN OF).
- How much revenue does ILLINOIS SMALL BUSINESS GROWTH CORPORATION have?
- On its 990 for the year ended September 30, 2025 it reported revenue of $9,309,985, expenses of $9,296,280 and total assets of $3,232,254 at year end.
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