Nonprofit · EIN 87-0772222
DOWNERS GROVE ECONOMIC DEVELOPMENT CORPORATION
Tax-exempt · DOWNERS GROVE, IL 60515
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $719,538 | $693,950 | $25,588 | $594,122 | $247,075 | $347,047 |
| December 31, 2023 | 990 | $678,276 | $623,806 | $54,470 | $591,459 | $270,000 | $321,459 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $595,000
- of which government grants
- $595,000
- Program service revenue
- $116,724
- Investment income
- $7,814
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $155,299
- Other salaries and wages
- $156,588
- Salaries, compensation and benefits (total)
- $414,718
- Professional fundraising fees
- $0
- Occupancy
- $43,973
- Travel
- $1,782
- Program services (functional)
- $596,506
- Management and general (functional)
- $97,444
Balance sheet and other
- Total assets, start of year
- $591,459
- Total assets, end of year
- $594,122
- Total liabilities, end of year
- $247,075
- Net assets, end of year
- $347,047
- Net assets without donor restrictions
- $347,047
- Gross receipts
- $719,538
- Employees
- 3
- Volunteers
- 1
- Year formed
- 2006
- State of legal domicile
- IL
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 December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BRYAN GAY | PRESIDENT & Officer | 40 | $155,299 | $12,424 |
| ROBERT L FERNANDEZ | DIRECTOR & C Trustee or director, Officer | 1 | $0 | $0 |
| KEN MALINOWSKI | DIRECTOR/VIC Trustee or director, Officer | 1 | $0 | $0 |
| MICHAEL RIORDAN | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| SCOTT MILLER | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| JOHN LUKA | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| MARK COSENZA | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| LORI RITZERT | DIRECTOR/TRE Trustee or director | 1 | $0 | $0 |
| BETH GONCHER | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| KATHLEEN GOEPPINGER PHD | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| GARY MORI | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| RICHARD M GATTO | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| EDWARD SITAR III | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| DR MAUREEN DUNNE | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| ERIN VENEZIA | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
14 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LISA RASIN | DIRECTOR Trustee or director | 0.2 | $0 |
| JENNIFER SCHINKE | DIRECTOR Trustee or director | 0.2 | $0 |
| ALLISON WYLER | DIRECTOR Trustee or director | 0.2 | $0 |
| ROBERT BARNETT | DIRECTOR Trustee or director | 0.2 | $0 |
| DAVID FIELDMAN | DIRECTOR Trustee or director | 0.2 | $0 |
| MICHAEL BAKER | DIRECTOR Trustee or director | 0.2 | $0 |
| FADI OSMANO | DIRECTOR Trustee or director | 0.2 | $0 |
| CHRIS GILMARTIN | DIRECTOR Trustee or director | 0.2 | $0 |
| THERESA SCHULZ | DIRECTOR/SEC Trustee or director, Officer | 1 | $0 |
| MARY LYNN FAYOUMI | DIRECTOR Trustee or director | – | $0 |
| THOMAS BECKMANN | DIRECTOR Trustee or director | 0.2 | $0 |
| CLAUDIO GUTIERREZ | DIRECTOR Trustee or director | 0.2 | $0 |
| MARC IOZZO | DIRECTOR Trustee or director | 0.2 | $0 |
| ERIC RHODES | DIRECTOR Trustee or director | 0.2 | $0 |
990 for the year ended December 31, 2023: 27 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BRYAN GAY | PRESIDENT & Trustee or director, Officer | 40 | $157,791 | $12,263 |
| ROBERT L FERNANDEZ | DIRECTOR & C Trustee or director, Officer | 1 | $0 | $0 |
| KEN MALINOWSKI | DIRECTOR/VIC Trustee or director, Officer | 1 | $0 | $0 |
| MICHAEL RIORDAN | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| SCOTT MILLER | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| JOHN LUKA | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| MARK COSENZA | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| LORI RITZERT | DIRECTOR/TRE Trustee or director | 1 | $0 | $0 |
| BRIAN MALPELI | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| LAURA CRAWFORD | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| KATHLEEN GOEPPINGER PHD | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| GARY MORI | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| RICHARD M GATTO | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| EDWARD SITAR III | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| DR MAUREEN DUNNE | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| ERIN VENEZIA | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| LISA RASIN | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| JENNIFER SCHINKE | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| ALLISON WYLER | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| ROBERT BARNETT | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| DAVID FIELDMAN | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| MICHAEL BAKER | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| FADI OSMANO | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| CHRIS GILMARTIN | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| DAN LANEY | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
| THERESA SCHULZ | DIRECTOR/SEC Trustee or director, Officer | 1 | $0 | $0 |
| MARY LYNN FAYOUMI | DIRECTOR Trustee or director | 0.2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 5159 MOCHEL DR, DOWNERS GROVE, IL 60515-5065
- In care of
- % MICHAEL CASSA
- Principal officer (990 for 2024)
- BRYAN GAY, 5159 MOCHEL DRIVE, DOWNERS GROVE, IL 60515
- Signed the 990
- BRYAN GAY, PRESIDENT & CEO
- Phone
- (630) 729-0380
- Website
- WWW.DGEDC.COM
- Return prepared by
- KOLNICKI PETERSON & WIRTH CPA'S
Mission
TO ENHANCE THE ECONOMIC VITALITY OF THE VILLAGE OF DOWNERS GROVE THROUGH THE RETENTION, EXPANSION, AND ATTRACTION OF BUSINESS THAT IS CONDUCIVE TO IMPROVING THE QUALITY OF LIFE IN DOWNERS GROVE.
Program accomplishments
- 2024 PROGRAM SERVICE ACCOMPLISHMENTS ACTIVITIES OF THE DOWNERS GROVE ECONOMIC DEVELOPMENT CORPORATION INCLUDE BUSINESS ATTRACTION (FACILITATING NEW BUSINESS TO OPEN IN THE VILLAGE), BUSINESS RETENTION (WORKING WITH EXISTING BUSINESSES TO ENSURE SATISFACTION), VISITORS ATTRACTION (PROMOTING DOWNERS GROVE AS A DESTINATION FOR VISITORS), AND MARKETING (CREATION OF MATERIALS, WEBSITES, ETC., PARTICIPATION IN TRADE SHOWS, AND ADVERTISING). THE FOLLOWING ARE HIGHLIGHTS OF THE MANY PROGRAM SERVICE ACCOMPLISHMENTS OF THE DGEDC DURING 2024: ATI PHYSICAL THERAPY COMPLETED THE BUILDOUT OF THEIR NEW CORPORATE HEADQUARTERS AT 2001 BUTTERFIELD ROAD. BALES METALS SURFACE SOLUTIONS AT 2824 HITCHCOCK AVENUE COMPLETED THE EXPANSION OF THEIR EXISTING BUILDING WITH NEW PLATING EQUIPMENT. BUBBLY SIDE OF LIFE AT 5131 MAIN STREET COMPLETED THE BUILDOUT OF THEIR NEW RETAIL CHAMPAGNE AND WINE TASTING STORE IN THE DOWNTOWN. BUFFALO WILD WINGS GO COMPLETED THEIR QUICK SERVICE RESTAURANT BUILD-OUT AT 945 OGDEN AVENUE. CHEMRING ENERGETIC DEVICES COMPLETED A MAJOR RENOVATION OF THEIR NEW MANUFACTURING FACILITY AT 2525 CURTISS STREET. CHEMRING NOW FULLY OCCUPIES THE 100,000 SF FACILITY. ELEVEN26 CONTINUED CONSTRUCTION OF THEIR NEW RESTAURANT SPACE AT 5126 MAIN STREET IN THE DOWNTOWN. THE RESTAURANT IS LOOKING FORWARD TO A GRAND OPENING IN 2025. CNA COMPLETED THE BUILD-OUT OF THEIR CORPORATE OFFICE EXPANSION AT 3333 FINLEY ROAD. ENTOURAGE COMPLETED THE BUILD-OUT OF THEIR NEW RESTAURANT AT 5101 MAIN STREET. ESCAPOLOGY DOWNERS GROVE OPENED FOR BUSINESS AT 1250 75TH STREET. ESCAPOLOGY IS AN ESCAPE ROOM / ENTERTAINMENT VENUE. EVEREST ASIAN FUSION BEGAN BUILD-OUT OF THEIR NEW RESTAURANT 1550 75TH STREET. HIME CHA BOBA TEA COMPLETED THE BUILD-OUT OF THEIR NEW JUICE AND TEA SHOP AT 436 75TH STREET. CASTLE CARS GENESIS OF DOWNERS GROVE CONTINUED CONSTRUCTION OF THEIR NEW DEALERSHIP AT CROSS AND ODGEN AVENUE IN OCTOBER. CONSTRUCTION IS TO BE COMPLETED IN 2025. GOLDFINGER BREWING COMPANY COMPLETED CONSTRUCTION ON A MAJOR EXPANSION OF THEIR BREWING FACILITY AT 513 ROGERS STREET INCLUDING AN EXPANDED BREWHOUSE. LYTLE HOUSE COMPLETED CONSTRUCTION IN 2024 AT 4919 BELMONT ROAD WHICH HOUSES A NEW PHOTOGRAPHY STUDIO AND SPECIAL EVENT SPACE. FEDERAL SIGNAL COMPLETED SIGNED A LEASE AND COMPLETED THE BUILD-OUT OF THEIR NEW CORPORATE OFFICES AT 1333 BUTTERFIELD ROAD. HOME GOODS AND MARSHALLS BEGAN RENOVATING THEIR NEW RETAIL SPACES AT 1548 BUTTERFIELD ROAD IN THE FINLEY SQUARE SHOPPING CENTER. BOTH RETAILERS ARE SCHEDULED TO OPEN IN LATE 2025. MCALLISTER'S DELI OPENED FOR BUSINESS IN FEBRUARY AFTER COMPLETING THEIR RESTAURANT BUILD-OUT AT 933 OGDEN AVENUE. THE DOWNERS GROVE PARK DISTRICT COMPLETED CONSTRUCTION AT MCCOLLUM PARK FOR NEW SPRAY PADS, NEW TENNIS AND PICKLEBALL COURTS, RECONSTRUCTION OF PATHWAYS, NEW SHELTERS AND STORM SEWER IMPROVEMENTS. MEADOWBROOK SHOPPING CENTER CONTINUED WORKING THROUGH THE TIF CREATION PROCESS WITH THE VILLAGE FOR THE REHABILITATION OF THE CENTER. TIF CREATION AND RE-DEVELOPMENT PLAN TO BE ADOPTED IN 2025. MIDWESTERN UNIVERSITY CONTINUED CONSTRUCTION ON THEIR NEWEST BUILDING AT 555 31ST STREET. THIS NEW 122,000 SF BUILDING WILL INCLUDE ADMINISTRATIVE OFFICES, CLASSROOMS AND STATE-OF-THE-ART LAB SPACES. CONSTRUCTION IS SCHEDULED FOR COMPLETION IN 2025. OAK TRACE COMPLETED CONSTRUCTION OF A MAJOR EXPANSION OF THEIR COMMUNITY AT 270 VILLAGE DRIVE. CONSTRUCTION WILL INCLUDE A TWO NEW 5-STORY APARTMENT BUILDING AND PARKING COMPLEX. ROASTED ELEMENTS AT 4955 FAIRVIEW AVENUE BEGAN THE BUILD-OUT OF THEIR COFFEE SHOP AND ROASTERY. SKYWAY HEALTH COMPLETED THE BUILD-OUT OF THEIR NEW CORPORATE OFFICES AT 2001 BUTTERFIELD ROAD IN THE ESPLANADE LAKES OFFICE PARK. VINTAGE CHARM COMPLETED THE BUILD-OUT OF THEIR SEVENTH RETAIL LOCATION AT 5114 MAIN STREET IN THE DOWNTOWN. WOODCRAFT RELOCATED FROM WOODRIDGE TO 504 OGDEN AVENUE. WOODCRAFT IS A SPECIALTY WOODWORKING AND TOOL RETAIL STORE.Expenses $596,506 · revenue $711,724
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 December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 87-0772222
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 2007
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S41)
- Assets (IRS master file)
- $594,122
- Income (IRS master file)
- $719,538
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $719,538 | $693,950 | $594,122 | XML |
| 990 | December 2023 | $678,276 | $623,806 | $591,459 | XML |
| 990 | December 2022 | $477,738 | $475,973 | $557,515 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | 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 87-0772222).
Questions about DOWNERS GROVE ECONOMIC DEVELOPMENT CORPORATION
- What is the EIN of DOWNERS GROVE ECONOMIC DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of DOWNERS GROVE ECONOMIC DEVELOPMENT CORPORATION is 87-0772222.
- Is DOWNERS GROVE ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 2007.
- Are donations to DOWNERS GROVE ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does DOWNERS GROVE ECONOMIC DEVELOPMENT 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 DOWNERS GROVE ECONOMIC DEVELOPMENT CORPORATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did DOWNERS GROVE ECONOMIC DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of DOWNERS GROVE ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 names BRYAN GAY.
- Who are the officers and directors of DOWNERS GROVE ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 lists 29 people; 1 received compensation from the organization, the highest $155,299 (BRYAN GAY, PRESIDENT &).
- How much revenue does DOWNERS GROVE ECONOMIC DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $719,538, expenses of $693,950 and total assets of $594,122 at year end.
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- RJN FOUNDATION EIN 36-3963955 · last filed 990-PF for 2025
- CHICAGO BOOTH ENTREPRENEURIAL ROUNDTREE EIN 20-5952325 · last filed 990-N for 2025
- FRIENDS OF THE EDWARDS HOUSE EIN 81-4646043 · last filed 990-N for 2025
- AMERICAN ASSOCIATION OF UNIVERSITY WOMEN EIN 36-6212505 · last filed 990-N for 2025
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All nonprofits in DOWNERS GROVE · Illinois · Community improvement and capacity building