Nonprofit · EIN 36-3276581
KEWANEE ECONOMIC DEVELOPMENT CORP
Tax-exempt · KEWANEE, IL 61443
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $255,895 | $91,393 | $164,502 | $1,614,404 | $2,503 | $1,611,901 |
| December 31, 2024 | 990 | $225,157 | $84,650 | $140,507 | $1,449,041 | $1,642 | $1,447,399 |
| December 31, 2023 | 990 | $228,279 | $78,524 | $149,755 | $1,308,489 | $1,597 | $1,306,892 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $77,005
- of which government grants
- $40,000
- Program service revenue
- $0
- Investment income
- $2,959
- Net rental income
- $175,931
- Other revenue
- $175,931
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $60,624
- Salaries, compensation and benefits (total)
- $78,772
- Professional fundraising fees
- $0
- Accounting fees
- $1,150
- Travel
- $115
- Program services (functional)
- $91,393
Balance sheet and other
- Total assets, start of year
- $1,449,041
- Total assets, end of year
- $1,614,404
- Total liabilities, end of year
- $2,503
- Net assets, end of year
- $1,611,901
- Gross receipts
- $261,974
- Employees
- 1
- Volunteers
- 50
- Year formed
- 1975
- 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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KATHERINE J ALBERT | EXECUTIVE DIRECTOR Trustee or director, Highest-paid employee | 32 | $60,624 |
| CHARLES EASTMAN | PRESIDENT Trustee or director, Officer | 1 | $0 |
| THOMAS G RATLIFF | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| MARK REWERTS | TREASURER Trustee or director, Officer | 1 | $0 |
| SEE LIST | DIRECTORS Trustee or director | 1 | $0 |
990 for the year ended December 31, 2024: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KATHERINE J ALBERT | EXECUTIVE DIRECTOR Trustee or director, Highest-paid employee | 32 | $58,292 |
| CHARLES EASTMAN | PRESIDENT Trustee or director, Officer | 1 | $0 |
| THOMAS G RATLIFF | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| MARK REWERTS | TREASURER Trustee or director, Officer | 1 | $0 |
| SEE LIST | DIRECTORS Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KATHERINE J ALBERT | EXECUTIVE DIRECTOR Trustee or director, Highest-paid employee | 32 | $56,070 |
| CHARLES EASTMAN | PRESIDENT Trustee or director, Officer | 1 | $0 |
| THOMAS G RATLIFF | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| MARK REWERTS | TREASURER Trustee or director, Officer | 1 | $0 |
| SEE LIST | DIRECTORS Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 404 E 3RD ST, KEWANEE, IL 61443-2324
- Principal officer (990 for 2025)
- KATHERINE ALBERT, 404 E THIRD ST, KEWANEE, IL 61443
- Signed the 990
- KATHERINE ALBERT, EXECUTIVE DIRECTOR
- Phone
- (309) 853-5000
- Website
- kedcorp.org
- Return prepared by
- Calvert Tax & Bookkeeping
Mission
ECONOMIC DEVELOPMENT
Program accomplishments
- THE KEWANEE ECONOMIC DEVELOPMENT CORPORATION IS FORMED AS A GROUP TO BRING ECONOMIC AND INDUSTRIAL GROWTH TO THE GEOGRAPHIC AREA OF KEWANEE, ILLINOIS. WITH THE DEVELOPMENT OF NEW INDUSTRIES AND BUSINESSES, JOBS ARE CREATED AND THE OVERALL STRENGTH OF THE COMMUNITY IS INCREASED.Expenses $91,393 · revenue $77,006
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 | 990 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
- 36-3276581
- Tax-exempt status
- 501(c)(4): Social welfare organization
- Donations deductible
- No
- Exempt since
- 1985
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $1,614,404
- Income (IRS master file)
- $261,974
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $255,895 | $91,393 | $1,614,404 | IRS |
| 990 | December 2024 | $225,157 | $84,650 | $1,449,041 | IRS |
| 990 | December 2023 | $228,279 | $78,524 | $1,308,489 | XML |
| 990 | December 2022 | $281,958 | $74,146 | $1,158,704 | 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 36-3276581).
Questions about KEWANEE ECONOMIC DEVELOPMENT CORP
- What is the EIN of KEWANEE ECONOMIC DEVELOPMENT CORP?
- The employer identification number (EIN) of KEWANEE ECONOMIC DEVELOPMENT CORP is 36-3276581.
- Is KEWANEE ECONOMIC DEVELOPMENT CORP tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 1985.
- Are donations to KEWANEE ECONOMIC DEVELOPMENT CORP tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does KEWANEE ECONOMIC DEVELOPMENT CORP 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 KEWANEE ECONOMIC DEVELOPMENT CORP due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did KEWANEE ECONOMIC DEVELOPMENT CORP last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of KEWANEE ECONOMIC DEVELOPMENT CORP?
- The 990 for the year ended December 31, 2025 names KATHERINE ALBERT.
- Who are the officers and directors of KEWANEE ECONOMIC DEVELOPMENT CORP?
- The 990 for the year ended December 31, 2025 lists 5 people; 1 received compensation from the organization, the highest $60,624 (KATHERINE J ALBERT, EXECUTIVE DIRECTOR).
- How much revenue does KEWANEE ECONOMIC DEVELOPMENT CORP have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $255,895, expenses of $91,393 and total assets of $1,614,404 at year end.
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