Rockford Local Development Corporation
ROCKFORD, IL
Total revenue
$1.1M
Total expenses
$1.1M
Net assets
$3.2M
Grants received
—
EIN
363038678
Tax year
2023
Mission
To advance the commercial, industrial and general welfare of the city of rockford, illinois and northern illinois and to assist in developing and implementing strategies to stimulate business development
Programs
1 program
Rlf program: rockford local development corporation also manages six revolving loan programs serving four counties in northern illinois (ogle, mchenry, winnebago and boone). Totaling 7,053,734, these loan funds are targeted to serve low-income communities, disadvantaged businesses and manufacturing employment. Presently, there are approximately 155 loans outstanding to small businesses. In fy 2024, rockford local development corporation, through its management of these six revolving loan programs, closed 29 loans for eligible projects totaling 2,327,000.
Financials
FY 2023
Revenue
Expenses
People
15 listed
JOHN PHELPS
EXECUTIVE DI
$184K
35 hrs/wk
EARL DOTSON JR
DIRECTOR
—
1 hrs/wk
JEFF FAHRENWALD
DIRECTOR
—
1 hrs/wk
LINDA HECKERT
CHAIR
—
1 hrs/wk
AUDRA MONCUR
DIRECTOR
—
1 hrs/wk
ED MUNGUIA
VICE CHAIR
—
1 hrs/wk
J DANIEL O'BOYLE
DIRECTOR
—
1 hrs/wk
TODD CAGNONI
ASSISTANT TR
—
1 hrs/wk
BRIAN PETERSON
PAST CHAIRMA
—
1 hrs/wk
JAMES RYAN
SECRETARY
—
1 hrs/wk
KARL SWANSON
VICE CHAIR
—
1 hrs/wk
MICHAEL SCHULTZ
TREASURER
—
1 hrs/wk
KAREN WALSH
DIRECTOR
—
1 hrs/wk
BRENTEN WITHERBY
ASSISTANT SE
—
1 hrs/wk
MICHELE PETRIE
DIRECTOR
—
1 hrs/wk