Skip to main content
IRS-authorized e-file provider · not the IRS

Nonprofit · EIN 37-1100487

ILLINOIS BUSINESS FINANCIAL SERVICES

Tax-exempt · PEORIA, IL 61602

Financials

$514K$544K2022$367K$363K2023$349K$413K2024
Revenue Expenses · by fiscal year end
Financials of ILLINOIS BUSINESS FINANCIAL SERVICES by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
September 30, 2025990$349,146$412,767-$63,621$319,087$73,619$245,468
September 30, 2024990$366,903$362,782$4,121$388,874$79,785$309,089
September 30, 2023990$513,500$544,474-$30,974$376,756$71,788$304,968
Financial details: 990 for the year ended September 30, 2025

Revenue

Contributions, gifts and grants
$0
Program service revenue
$349,135
Investment income
$11
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$72,317
Other salaries and wages
$29,205
Salaries, compensation and benefits (total)
$109,731
Professional fundraising fees
$0
Accounting fees
$14,181
Occupancy
$172,982
Depreciation
$20,504
Program services (functional)
$365,841
Management and general (functional)
$46,926

Balance sheet and other

Total assets, start of year
$388,874
Total assets, end of year
$319,087
Total liabilities, end of year
$73,619
Net assets, end of year
$245,468
Land, buildings and equipment
$212,518
Net assets without donor restrictions
$245,468
Gross receipts
$349,146
Employees
2
Volunteers
20
Year formed
1981
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 September 30, 2025, highest compensation first.

NameTitleHours / weekCompensation
EUGENE D GATHERSPRESIDENTCEO
Officer
40$32,817
RACHAEL PARKERDIRECTOR
Trustee or director
0.5$0
KIMBERLEY RICHARDSONDIRECTOR
Trustee or director
0.5$0
NICHOLAS ROCHFORDDIRECTOR
Trustee or director
0.5$0
LARAINE BRYSONVICE CHAIRPERSON
Trustee or director, Officer
1$0
ALLEN KILGORECHAIRPERSON
Trustee or director, Officer
1$0
CHARLES RANDLEAT-LARGE EXECUTIVE
Trustee or director, Officer
1$0
JOSH GRABERTREASURER
Trustee or director, Officer
1$0
BRITTANY CLONESECRETARY
Trustee or director, Officer
1$0
990 for the year ended September 30, 2024: 11 people
NameTitleHours / weekCompensation
ERIK READERPRESIDENTCEO FORMER
Officer
40$75,000
RACHAEL PARKERDIRECTOR
Trustee or director
0.5$0
DONALD JACKSONDIRECTOR FORMER
Trustee or director
0.5$0
KIMBERLEY RICHARDSONDIRECTOR
Trustee or director
0.5$0
JAMES TILLMANSECRETARY FORMER
Trustee or director, Officer
0.5$0
JOSH GRABERTREASURER
Trustee or director, Officer
1$0
CORRY HARRISCHAIRPERSON FORMER
Trustee or director, Officer
1$0
LARAINE BRYSONVICE CHAIRPERSON
Trustee or director, Officer
0.5$0
CHARLES RANDLEAT-LARGE EXECUTIVE
Trustee or director, Officer
1$0
ALLEN KILGORECHAIRPERSON
Trustee or director, Officer
1$0
EUGENE D GATHERSPRESIDENTCEO
Officer
40$0
990 for the year ended September 30, 2023: 11 people
NameTitleHours / weekCompensation
ERIK READERPRESIDENTCEO
Officer
40$83,333
KYLE KINGINTERIM CEO
Officer
40$36,906
RACHAEL PARKERDIRECTOR
Trustee or director
0.5$0
JOSH GRABERDIRECTOR
Trustee or director
0.5$0
LARAINE BRYSONDIRECTOR
Trustee or director
0.5$0
KIMBERLEY RICHARDSONDIRECTOR
Trustee or director
0.5$0
DONALD JACKSONDIRECTOR
Trustee or director
0.5$0
ALLEN KILGOREVICE CHAIRPERSON
Trustee or director, Officer
0.5$0
CORRY HARRISCHAIRPERSON
Trustee or director, Officer
1$0
JAMES TILLMANSECRETARY
Trustee or director, Officer
0.5$0
CHARLES RANDLEAT-LARGE EXECUTIVE
Trustee or director, Officer
1$0

Address and contacts

Address (IRS master file)
201 SW ADAM ST STE 222, PEORIA, IL 61602-1407
In care of
% EUGENE D GATHERS
Principal officer (990 for 2024)
EUGENE D GATHERS, 201 SW ADAMS ST, Peoria, IL 61602
Signed the 990
EUGENE D GATHERS, PRESIDENTCEO
Phone
(309) 495-5976
Return prepared by
KOCH CONSULTANTS LTD

Mission

PROMOTE ECONOMIC AND SOCIAL WELFARE THROUGH ADMINISTRATION OF SBA LOAN PROGRAMS AND ESTABLISHMENT OF SPACE FOR A BUSINESS INCUBATION PROGRAM.

990 for the year ended September 30, 2025

Program accomplishments

  • ESTABLISHMENT OF SPACE FOR A BUSINESS INCUBATION PROGRAM
    Expenses $230,673 · revenue $134,496
  • THE PROCESSING AND SERVICING OF SMALL BUSINESS LOANS UNDER VARIOUS SMALL BUSINESS ADMINISTRATION PROGRAMS
    Expenses $135,168 · revenue $214,639

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 September, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025September 30, 2026February 16, 2027Not due yet
2024September 30, 2025February 17, 2026990 on file
2023September 30, 2024February 18, 2025990 on file

IRS record

EIN
37-1100487
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (509(a)(2))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1982
Accounting year ends
September
Files
Form 990 or 990-EZ
Assets (IRS master file)
$319,087
Income (IRS master file)
$349,146

Filing history

FormYear endedRevenueExpensesAssetsReturn
990September 2025$349,146$412,767$319,087XML
990September 2024$366,903$362,782$388,874XML
990September 2023$513,500$544,474$376,756XML
990September 2022$473,829$260,434$382,958IRS
990September 2021–––IRS
990September 2020–––IRS
990September 2019–––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 37-1100487).

Questions about ILLINOIS BUSINESS FINANCIAL SERVICES

What is the EIN of ILLINOIS BUSINESS FINANCIAL SERVICES?
The employer identification number (EIN) of ILLINOIS BUSINESS FINANCIAL SERVICES is 37-1100487.
Is ILLINOIS BUSINESS FINANCIAL SERVICES tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1982.
Are donations to ILLINOIS BUSINESS FINANCIAL SERVICES tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does ILLINOIS BUSINESS FINANCIAL SERVICES 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 ILLINOIS BUSINESS FINANCIAL SERVICES due?
The return for tax year 2025 (the year ending September 30, 2026) is due February 16, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did ILLINOIS BUSINESS FINANCIAL SERVICES last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended September 2025.
Who is the principal officer of ILLINOIS BUSINESS FINANCIAL SERVICES?
The 990 for the year ended September 30, 2025 names EUGENE D GATHERS.
Who are the officers and directors of ILLINOIS BUSINESS FINANCIAL SERVICES?
The 990 for the year ended September 30, 2025 lists 9 people; 1 received compensation from the organization, the highest $32,817 (EUGENE D GATHERS, PRESIDENTCEO).
How much revenue does ILLINOIS BUSINESS FINANCIAL SERVICES have?
On its 990 for the year ended September 30, 2025 it reported revenue of $349,146, expenses of $412,767 and total assets of $319,087 at year end.

Other nonprofits in PEORIA

All nonprofits in PEORIA · Illinois