Overview
What is Downers Grove Economic Development Corporation?
Downers Grove Economic Development Corporation (DGEDC) is a nonprofit organization based in Downers Grove, Illinois. Its primary mission is to boost the economic vitality of the village by attracting new businesses, ensuring the satisfaction of existing ones, promoting the area as a tourist destination, and marketing through various means. In 2022, the DGEDC played a significant role in facilitating various business developments, such as the opening of new stores like At Home Furnishings and La-Z Boy Furniture, as well as renovations and expansions of existing businesses like ADVOCATE Medical Group and Pugi Hyundai. The corporation also worked on redevelopment projects, like the Meadowbrook Shopping Center, to revitalize the area and attract more businesses.
Official website here: www.dgedc.com
Is Downers Grove Economic Development Corporation legitimate?
Downers Grove Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(6) entity. Downers Grove 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: $48,891
Professional Fundraising Fees: $0
Other Salaries and Wages: $144,759
For more financial information, click here
Official website here: www.dgedc.com
What is the mission statement of Downers Grove Economic Development Corporation?
The Downers Grove Economic Development Corporation's mission is geared towards enhancing the economic vitality of its community. This is achieved through various strategies, including attracting new businesses, retaining existing ones, promoting the area as a tourist destination, and conducting marketing activities. The corporation's activities in 2022 resulted in several business openings and expansions, such as Advocate Medical Group, Athletico, and At Home Furnishings, among others. These developments aim to improve the overall quality of life in the community.
Official website here: www.dgedc.com
Who is the CEO of Downers Grove Economic Development Corporation?
Bryan Gay is the Director & C of Downers Grove Economic Development Corporation.
Official website here: www.dgedc.com
What is the revenue of Downers Grove Economic Development Corporation?
Downers Grove Economic Development Corporation's revenue in 2022 was $477,738.
Official website here: www.dgedc.com
Who are the executives of Downers Grove Economic Development Corporation and what are their salaries?
The average compensation at Downers Grove Economic Development Corporation during 2022 was $48,412. There are 4 employees at Downers Grove Economic Development Corporation.
Here are 27 key members and their salaries:
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Official website here: www.dgedc.com
Where can I find the form 990 for Downers Grove Economic Development Corporation?
Downers Grove Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.dgedc.com
Learn more at the official website: www.dgedc.com
Mission Statement of Downers Grove Economic Development Corporation
Downers Grove Economic Development Corporation, abbreviated as DGEDC, has a mission to enhance the economic vitality of the village of Downers Grove. This nonprofit organization strives to achieve this goal by focusing on the retention, expansion, and attraction of businesses that contribute positively to the quality of life in Downers Grove. By doing so, DGEDC aims to foster a thriving economic environment that benefits the local community.
In pursuit of its mission, DGEDC engages in various activities. These include business attraction, which involves facilitating new businesses to open in the village, as well as business retention, where the organization works with existing businesses to ensure their satisfaction. Furthermore, DGEDC promotes Downers Grove as a destination for visitors and employs marketing strategies such as creating promotional materials, participating in trade shows, and advertising.
Throughout 2022, DGEDC achieved numerous accomplishments in its program services. These accomplishments ranged from facilitating the renovation of medical facilities to the opening of new retail stores, showcasing the organization's dedication to enhancing Downers Grove's economic vitality and attracting new businesses. Overall, DGEDC's mission is to contribute to Downers Grove's economic growth and improve the quality of life for its residents by fostering a thriving business environment.
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Impact
October, 2024
The Downers Grove Economic Development Corporation (DGEDC) plays a crucial role in enhancing the economic vitality of Downers Grove by attracting new businesses, retaining existing ones, and promoting the village as a destination for visitors. In 2022, they achieved significant milestones, including the successful facilitation of new businesses and the expansion of existing facilities.
Among their accomplishments, Advocate Medical Group renovated its cardiology department to better serve the community, while Athletico opened a new physical therapy facility at 1117 Ogden Avenue. Retail developments thrived, with stores like At Home, La-Z Boy Furniture, and Lantern Pizza Co. opening their doors, thereby contributing to local commerce and job creation. Notably, multiple properties, including a multi-tenant building developed by Vequity Real Estate, were completed, creating vibrant spaces for businesses to thrive.
To further enhance community appeal, the DGEDC engaged in marketing efforts that included advertising in state and regional publications and participating in trade shows. Their strategic approach to business attraction and retention has helped fill vacant spaces and redevelop key areas, such as the remodeled Higher Ground Education daycare center and the new Planet Fitness gym.
Overall, the DGEDC's work significantly impacts the local economy, fosters community improvement, and ultimately aims to enhance the quality of life for Downers Grove residents. With ongoing projects and a focused strategy, the DGEDC remains pivotal to shaping a prosperous future for the village.
This information is meant to be a general summary of Downers Grove 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: $410
- Program Service Revenue: $47,000
- Gross Receipts: $477,738
Assets and Liabilities:
- Total Assets: $557,515
- Total Liabilities: $290,526
- Net Assets: $266,989
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP DUES
Revenue
$47,000
Organization Details
Founding Year
2006
Phone
(630) 729-0380Principal Officer
Bryan Gay
Main Address
5159 MOCHEL DRIVE, DOWNERS GROVE, IL, 60515
Website
www.dgedc.comNTEE Category
Code: S41 - Community improvement
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