Overview
What is Illinois Valley Economic Development Corporation?
The Illinois Valley Economic Development Corporation is a charitable and educational organization based in Gillespie, Illinois. They serve the community by managing various programs aimed at assisting low-income, disabled, elderly, and individuals and families in need. Their primary focus includes energy initiatives, such as the Low-Income Home Energy Assistance Program (LIHEAP) and the Illinois Home Weatherization Assistance Program (IHWAP). LIHEAP offers utility assistance, emergency reconnection funds, and furnace repair or replacement for eligible households, while IHWAP provides insulation, weather stripping, air-sealing, and heating system repairs to make homes more energy-efficient and affordable. In the fiscal year 2022, they assisted 2,887 households with utility assistance, 667 households with emergency reconnection, and approximately 32 households with furnace repair or replacement. IVEDC employs a team of 313 individuals and uses a hybrid approach, combining a crew-based program for architectural work and a contractor-based program for HVAC, to weatherize homes and return to pre-pandemic numbers.
Official website here: www.ilvalley-edc.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100% (Four-Star out of Four Stars)
The Illinois Valley Economic Development Corporation has achieved an impressive Four-Star rating from Charity Navigator, indicating a high level of accountability and financial health. The organization's score reflects a commitment to transparency, with all board members being independent and a strong oversight committee in place. The 90.76% ratio of program expenses suggests that a significant portion of their funds is directed towards their mission-related activities.
Strengths include comprehensive policies on conflict of interest, whistleblower protection, and document retention, all of which contribute to the organization's integrity and operational effectiveness. Additionally, their financial management is robust, as indicated by a low liabilities-to-assets ratio of 14.70%, demonstrating fiscal stability.
There are no noted limitations or issues in the data provided, which highlights the strong governance and financial practices of the organization. Overall, Illinois Valley Economic Development Corporation stands out as a well-managed nonprofit committed to its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Illinois Valley Economic Development Corporation legitimate?
Illinois Valley Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Illinois Valley Economic Development Corporation 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: $182,270
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,650,035
For more financial information, click here
Official website here: www.ilvalley-edc.org/
What is the mission statement of Illinois Valley Economic Development Corporation?
The Illinois Valley Economic Development Corporation functions as a charitable and educational organization, dedicated to serving the community through various programs. Its mission is to address the needs of low-income, disabled, elderly individuals, and families by coordinating and administering federal, state, local, and private resources. The organization focuses on education, employment, and training, housing, energy, food and nutrition, developmental training, transportation, resource coordination, and other related essentials. The Illinois Valley Economic Development Corporation acts as an advocate for its clients, working to improve lives and enrich communities.
Official website here: www.ilvalley-edc.org/
Who is the CEO of Illinois Valley Economic Development Corporation?
Stephanie Stahlhut is the Treasurer of Illinois Valley Economic Development Corporation.
Official website here: www.ilvalley-edc.org/
What is the revenue of Illinois Valley Economic Development Corporation?
Illinois Valley Economic Development Corporation's revenue in 2022 was $12,871,586.
Official website here: www.ilvalley-edc.org/
Who are the executives of Illinois Valley Economic Development Corporation and what are their salaries?
The average compensation at Illinois Valley Economic Development Corporation during 2022 was $15,439. There are 313 employees and 173 volunteers at Illinois Valley Economic Development Corporation.
Here are 26 key members and their salaries:
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Official website here: www.ilvalley-edc.org/
Where can I find the form 990 for Illinois Valley Economic Development Corporation?
Illinois Valley Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ilvalley-edc.org/
Learn more at the official website: www.ilvalley-edc.org/
Mission Statement of Illinois Valley Economic Development Corporation
The Illinois Valley Economic Development Corporation, a charitable and educational organization, is dedicated to serving the community by administering resources towards various needs of low-income, disabled, elderly individuals, and families. Through programs focused on education, employment and training, housing, energy, food and nutrition, developmental training, transportation, resource coordination, and other related services, IVEDC acts as a catalyst and advocate for its clients. The Corporation receives, plans, coordinates, and administers federal, state, local, and private resources to improve lives and enrich communities. By providing essential assistance in diverse areas, IVEDC strives to create opportunities that empower individuals and strengthen social bonds within the community.
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Impact
October, 2024
The Illinois Valley Economic Development Corporation (IVEDC) significantly impacts its community by providing essential programs aimed at assisting low-income, disabled, and elderly individuals and families in need. Through its energy programs, IVEDC operates the Low-Income Home Energy Assistance Program (LIHEAP) and the Illinois Home Weatherization Assistance Program (IHWAP), which together ensure that vulnerable households receive critical support for utility costs and home energy efficiency.
In the 2022 program year, LIHEAP delivered utility assistance to 2,887 households, addressing their energy needs during both winter and summer months. This support includes vital services such as the reconnection of utility services and financial assistance for furnace repairs or replacements, with over 667 households benefiting from emergency reconnection funds. The percentage of income payment program (PIPP) further extended assistance to 463 households, showcasing the comprehensive approach IVEDC takes to alleviate energy burdens on families.
IHWAP complements these efforts by focusing on energy conservation and efficiency. Through a hybrid approach that includes both a crew-based program for architectural needs and a contractor-based program for HVAC services, IVEDC successfully weatherized 31 homes in FY22. Such initiatives not only help families save on energy costs but also contribute to creating healthier and more comfortable living environments.
Overall, the efforts of Illinois Valley Economic Development Corporation serve as a powerful catalyst for improvement in the lives of individuals and families, fostering a more sustainable and enriched community in the Gillespie area of Illinois.
This information is meant to be a general summary of Illinois Valley Economic Development Corporation. 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: $22,046
- Program Service Revenue: $2,675,092
- Gross Receipts: $12,871,586
Assets and Liabilities:
- Total Assets: $10,213,117
- Total Liabilities: $1,573,969
- Net Assets: $8,639,148
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM INCOME
Revenue
$2,675,092
Organization Details
Founding Year
1966
Phone
(217) 839-4431Principal Officer
Stephanie Stahlhut
Main Address
223 SOUTH MACOUPIN, GILLESPIE, IL, 62033
Website
www.ilvalley-edc.org/NTEE Category
Code: P280 - Human services
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