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Nonprofit · EIN 36-2788088

OAK PARK ECONOMIC DEVELOPMENT CORPORATION

Tax-exempt · OAK PARK, IL 60301

Financials

$313K$313K2023
Revenue Expenses · by fiscal year end
Financials of OAK PARK ECONOMIC DEVELOPMENT CORPORATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2023990$313,255$313,255$0$295,442$158,640$136,802
Financial details: 990 for the year ended December 31, 2023

Revenue

Contributions, gifts and grants
$312,693
of which government grants
$312,693
Program service revenue
$0
Investment income
$14
Other revenue
$548

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$44,434
Other salaries and wages
$122,884
Salaries, compensation and benefits (total)
$194,484
Professional fundraising fees
$0
Accounting fees
$11,250
Occupancy
$29,004
Travel
$7,209
Depreciation
$808
Program services (functional)
$270,416
Management and general (functional)
$42,839

Balance sheet and other

Total assets, start of year
$285,638
Total assets, end of year
$295,442
Total liabilities, end of year
$158,640
Net assets, end of year
$136,802
Land, buildings and equipment
$7,563
Net assets without donor restrictions
$136,802
Gross receipts
$313,255
Employees
3
Volunteers
8
Year formed
1974
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, 2023, highest compensation first.

NameTitleHours / weekCompensation
JOHN LYNCHEXECUTIVE DIRECTOR (THRU MAY-2023)
Officer
40$148,314
ERIC MAZELISEXECUTIVE DIRECTOR
Officer
40$44,434
AARON JOSEPHCHAIR, BOARD OF DIRECTORS
Trustee or director, Officer
1$0
DAVID KENNEDYSECRETARY
Trustee or director, Officer
1$0
SANDEEP SOODTREASURER
Trustee or director, Officer
1$0
MIKE WARRENDIRECTOR
Trustee or director
1$0
JOHN LIPICDIRECTOR
Trustee or director
1$0

Address and contacts

Address (IRS master file)
104 N OAK PARK AVE STE 203, OAK PARK, IL 60301-1367
Principal officer (990 for 2023)
AARON JOSEPH, 104 N OAK PARK AVE 203, OAK PARK, IL 603011387
Signed the 990
AARON JOSEPH, CHAIR, BOARD OF DIRECTORS
Phone
(708) 383-3838
Return prepared by
SASSETTI LLC

Mission

THE MISSION OF THE ORGANIZATION IS TO ENHANCE THE QUALITY OF LIFE IN AND THE ECONOMIC HEALTH OF THE VILLAGE OF OAK PARK THROUGH THE EXPANSION OF THE VILLAGE'S PROPERTY TAX BASE, EXPANSION OF THE VILLAGE'S SALES TAX REVENUE AND THE CREATION AND RETENTION OF JOBS IN THE VILLAGE.

990 for the year ended December 31, 2023

Program accomplishments

  • THE ORGANIZATION'S EFFORTS DURING 2023 RESULTED IN INCREASED SALES TAX REVENUE, OPENING OF NEW BUSINESSES, JOB CREATION AND JOB RETENTION.
    Expenses $270,416

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025Not on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
36-2788088
Tax-exempt status
501(c)(4): Social welfare organization
Donations deductible
No
Exempt since
1974
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$295,442
Income (IRS master file)
$313,255

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2023$313,255$313,255$295,442XML
990December 2022$558,987$558,987$285,638IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990December 2017–––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 36-2788088).

Questions about OAK PARK ECONOMIC DEVELOPMENT CORPORATION

What is the EIN of OAK PARK ECONOMIC DEVELOPMENT CORPORATION?
The employer identification number (EIN) of OAK PARK ECONOMIC DEVELOPMENT CORPORATION is 36-2788088.
Is OAK PARK ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 1974.
Are donations to OAK PARK ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does OAK PARK 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 OAK PARK 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 OAK PARK ECONOMIC DEVELOPMENT CORPORATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2023.
Who is the principal officer of OAK PARK ECONOMIC DEVELOPMENT CORPORATION?
The 990 for the year ended December 31, 2023 names AARON JOSEPH.
Who are the officers and directors of OAK PARK ECONOMIC DEVELOPMENT CORPORATION?
The 990 for the year ended December 31, 2023 lists 7 people; 2 received compensation from the organization, the highest $148,314 (JOHN LYNCH, EXECUTIVE DIRECTOR (THRU MAY-2023)).
How much revenue does OAK PARK ECONOMIC DEVELOPMENT CORPORATION have?
On its 990 for the year ended December 31, 2023 it reported revenue of $313,255, expenses of $313,255 and total assets of $295,442 at year end.

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