Overview
What is Industrial Council Of Nearwest Chicago?
The Industrial Council of Nearwest Chicago is a nonprofit organization situated in Chicago, Illinois, specifically at 320 N Damen Avenue 1st Floor, 60612. Their primary focus is to support and fortify businesses within the Kinzie Industrial Corridor. They achieve this by offering business development services and providing incubator space. Their mission is to promote economic and community development in the area, aiming to strengthen local companies and contribute positively to the community. The organization currently employs 43 individuals.
Official website here: www.industrialcouncil.com
What are the reviews and ratings of this charity?
Charity Navigator has rated the Industrial Council of Nearwest Chicago with a score of 91%, awarding it a Four-Star out of Four Star rating. This high score reflects a strong emphasis on accountability and financial efficiency, which are critical for donor confidence. The organization has demonstrated a solid governance structure, with 100% independent board members and comprehensive oversight, indicating a commitment to ethical management.
Noteworthy strengths include a robust program expense ratio of 71.45%, showcasing the organization’s dedication to its mission through effective use of funds. Additionally, the absence of any material asset diversions reinforces its reliability. However, the organization did receive a score of zero in the area of posting tax forms on its website, which may raise concerns regarding transparency, albeit this aspect did not heavily impact its overall rating.
User reviews from GreatNonprofits are not available for this organization, limiting the insight into the broader public’s sentiment. Overall, the charity’s high accountability and financial scores point to a reliable organization committed to its mission despite some areas for improvement regarding transparency.
This AI summary has been generated from information found on Charity Navigator.
Is Industrial Council Of Nearwest Chicago legitimate?
Industrial Council Of Nearwest Chicago is a legitimate nonprofit organization registered as a 501(c)(3) entity. Industrial Council Of Nearwest Chicago submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $187,455
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,157,198
For more financial information, click here
Official website here: www.industrialcouncil.com
What is the mission statement of Industrial Council Of Nearwest Chicago?
The Industrial Council Of Nearwest Chicago's mission is focused on enhancing companies within the Kinzie Industrial Corridor and fostering both economic and community development. They accomplish this by offering services and providing incubator space. In essence, their goal is to support and strengthen these companies, thereby contributing to the overall growth and development of the area. Their activities include renting out space to tenants and offering business development services to help these companies thrive.
Official website here: www.industrialcouncil.com
Who is the CEO of Industrial Council Of Nearwest Chicago?
Steve Debretto is the President of Industrial Council Of Nearwest Chicago.
Official website here: www.industrialcouncil.com
What is the revenue of Industrial Council Of Nearwest Chicago?
Industrial Council Of Nearwest Chicago's revenue in 2022 was $8,831,961.
Official website here: www.industrialcouncil.com
Who are the executives of Industrial Council Of Nearwest Chicago and what are their salaries?
The average compensation at Industrial Council Of Nearwest Chicago during 2022 was $54,527. There are 43 employees and 16 volunteers at Industrial Council Of Nearwest Chicago.
Here are 19 key members and their salaries:
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- Compensation: $140,688
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- Compensation: $100,642
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Official website here: www.industrialcouncil.com
Where can I find the form 990 for Industrial Council Of Nearwest Chicago?
Industrial Council Of Nearwest Chicago's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.industrialcouncil.com
Learn more at the official website: www.industrialcouncil.com
Mission Statement of Industrial Council Of Nearwest Chicago
The Industrial Council of Nearwest Chicago, in its mission, aims to bolster businesses situated in the Kinzie Industrial Corridor and contribute to both economic and community development. This is achieved by offering essential services and providing incubator space. By doing so, the organization seeks to foster growth and development within the companies located in this area, thereby enhancing the overall prosperity of the community.
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Impact
October, 2024
The Industrial Council of Nearwest Chicago has a significant impact on the local economy and community development in the Kinzie Industrial Corridor. By providing essential services and incubator space, it strengthens companies in the area, enabling businesses to grow and thrive. The organization not only rents space to tenants but also offers robust business development services that contribute to the overall economic vitality of Chicago.
As a catalyst for local economic development, the council fosters collaboration among businesses, creating a supportive ecosystem that encourages innovation and entrepreneurship. This focus on strengthening the industrial base enhances job creation and retention, which in turn boosts the community's economic prospects.
Furthermore, the council's initiatives contribute to community improvement by enhancing the quality of the local business environment. By prioritizing the needs of companies and facilitating their growth, the Industrial Council of Nearwest Chicago plays a crucial role in ensuring that the Kinzie Industrial Corridor remains a vibrant and dynamic area for economic activity.
This information is meant to be a general summary of Industrial Council Of Nearwest Chicago. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $11,543
- Program Service Revenue: $6,498,028
- Gross Receipts: $8,831,961
Assets and Liabilities:
- Total Assets: $34,041,028
- Total Liabilities: $19,433,388
- Net Assets: $14,607,640
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
BASE RENT
Revenue
$6,109,121
MANAGEMENT FEES
Revenue
$185,000
SPECIAL EVENTS
Revenue
$118,002
SERVICE FEES
Revenue
$85,905
Organization Details
Founding Year
1984
Phone
(312) 421-3941Principal Officer
Steve Debretto
Main Address
320 N DAMEN AVENUE 1ST FLOOR, CHICAGO, IL, 60612
Website
www.industrialcouncil.comNTEE Category
Code: S30 - Community improvement
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