EIN 87-0772222

Downers Grove Economic Development Corporation

IRS 501(c) type
501(c)(6)
Num. employees
4
Year formed
2006
Most recent tax filings
2022-12-01
NTEE code, primary
Description
To enhance the Economic vitality of the village of Downers Grove through the retention, expansion, and attraction of business that is conducive to improving the quality of life in Downers Grove. To enhance the Economic vitality and attract new business to the village of Downers Grove.
Total revenues
$477,738
2022
Total expenses
$475,973
2022
Total assets
$557,515
2022
Num. employees
4
2022

Program areas at Downers Grove Economic Development Corporation

2022 program service accomplishments activities of the dgedc include business attraction (facilitating new business top open in the village), business retention (working with existing businesses to ensure satisfaction), visitors attraction (promoting Downers Grove as a destination for visitors), and marketing (creation of materials, websites, etc., participation in trade shows, and advertising). Following are highlights of the many program service accomplishments of the dgedc during 2022: advocate medical group completed a major renovation of their cardiology department at 3825 highland avenue to better serve the Downers Grove area community athletico completed the build out for their new physical therapy facility at 1117 ogden avenue. Vequity real estate developed the multi-tenant building at 1111-1117 ogden avenue. At home furnishings opened in august at 1212 75th street in the Grove shopping center. At home now occupies the former ultra foods space. Bold insight signed a lease and completed the build out of 9,000 sq. Ft for a new usability testing facility and additional corporate offices at 2001 butterfield road in the esplanade at locust point. Bridge industrial completed construction of bridge point Downers Grove iii at 5300 belmont road. Shortly after completion of the property, lec event technology signed a lease for 69,720 sq ft of the 126,445 sq ft building and occupied the space in december. Flavorchem completed buildout of the former aerial gymnastics club at 1516 brook drive. The new 15,000 sq ft space includes offices and warehousing areas. Higher ground education completed redevelopment of the former sears hardware facility at 925 ogden avenue. Higher ground opened their new 11,850 sq. Ft. day care center at the site in august. Illinois bone and joint completed the build out of their new 7,756 sq. Ft. medical facility at 1034 warren in downtown Downers Grove. Kfc completed both interior and exteriors renovations to their retail restaurant at 1450 75th street in the Grove shopping center. Kore investments completed major renovations to the lobby and improved amenity areas at 3500 lacey road. La-z boy furniture opened in june at 1410 butterfield road in butterfield plaza. La-z boy completed a complete interior renovation of the 16,000 sq ft. retail space. Lantern pizza co. Opened for business at 1420 ogden avenue, in the 1,789 sq ft former enterprise rent-a-car. Lantern opened in july after a complete remodel of the interior space. Leffelman meat center opened at 4952 main street in the downtown. Leffelmans is a family-owned butcher specializing in quality meats, and small batch sausages. Meadowbrook shopping center was purchased by stellco properties. Stellco is working on a redevelopment agreement with the village for the rehabilitation of the center. Plans to be reviewed at a village board meeting in 2023. Noodles & co. Completed the build out for its new restaurant at 1101 ogden. Vequity real estate developed the multi-tenant building at 1101-1117 ogden avenue. Panera bread completed construction on their new location with a drive-thru at 7361 lemont an outlot in the Downers park plaza shopping center. Planet fitness opened in october their new 21,000 sq ft gym at 2055 63rd street in the meadowbrook shopping center. Pugi hyundai completed the remodel and expansion of their dealership at 1866 ogden avenue. Roadrunner sports completed a renovation of their 2,612 sq ft retail store at 1532 butterfield road in the finley square shopping center. Ross builders completed construction of fairview station at 5117 fairview. The company construced a new 18-unit apartment building on the site of a long vacant gas station. Super cheer & dance studio opened at 7221 lemont road. Super cda has filled the long vacant walgreens store and providing more families and foot traffic in the Downers park place shopping center. Symmetry energy solutions completed build out of their new 9,600 sq ft offices in esplanade at locust point. T-mobile completed the renovation of their 2,000 sq ft retail store at 504 ogden avenue. T-mobile completed the renovations of their 30,000 sq ft corporate offices at 1400 opus place in the corporate towers west office park. Tropical smoothie completed the build out of their new restaurant at 1111 ogden avenue. Vequity real estate developed the multi-tenant building at 1101-1117 ogden avenue. Ugn automotive completed the build out of their 21,643 sq ft corporate headquarters at 2650 warrenville road in the corridors business park. Holladay properties began construction of a 122-room woodspring suites hotel at 2751 ogden. In addition to the 48,660 sq. Ft. hotel, holladays Development plan includes a restaurant site. The dgedc advertised in many state and regional publications, including the state of Illinois Economic Development guide and the dupage travel guide. The dgedc completed its fourth year in the tourism partnership with the dupage convention and visitors bureau. The dgedc hosted its annual brokers reception in november to promote Downers Grove as a great partner to the broker and Development communities. Also, the dgedc hired its new president & ceo in september, filling the position left vacant since april 2022.

Personnel at Downers Grove Economic Development Corporation

NameTitleCompensation
Bryan GayPresident and Chief Executive Officer$48,891
Michael CassaPast President and Chief Executive Officer$166,176
Michael RiordanDirector and Tre$0
Ken MalinowskiDirector and Vic$0
Robert L FernandezDirector and C$0
...and 2 more key personnel

Financials for Downers Grove Economic Development Corporation

RevenuesFYE 12/2022
Total grants, contributions, etc.$430,000
Program services$47,000
Investment income and dividends$410
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$328
Total revenues$477,738

Form 990s for Downers Grove Economic Development Corporation

Fiscal year endingDate received by IRSFormPDF link
2022-122023-10-25990View PDF
2021-122022-10-14990View PDF
2020-122021-09-27990View PDF
2019-122021-06-01990OView PDF
2017-122018-08-15990OView PDF
...and 7 more Form 990s

Organizations like Downers Grove Economic Development Corporation

OrganizationLocationRevenue
Greater Muskegon Econ DevelopmentMuskegon, MI$720,236
Chaffee County Economic Development CorporationSalida, CO$337,507
The Enterprise Group of JacksonJackson, MI$1,045,436
Daviess County Economic Development CorporationWashington, IN$260,391
Lake Superior Community PartnershipMarquette, MI$728,201
Strategic Economic Development Corporation of the Mid-Willamette ValleySalem, OR$1,197,091
Shenandoah Economic Development CorporationShenandoah, IA$269,727
Central Vermont Economic Development CorporationMontpelier, VT$295,591
Pike County Economic Development CorporationTroy, AL$382,974
Marion Economic Development CompanyMarion, IA$882,633
Data update history
November 27, 2023
Posted financials
Added Form 990 for fiscal year 2022
November 27, 2023
Updated personnel
Identified 3 new personnel
November 26, 2023
Used new vendors
Identified 1 new vendor, including
July 14, 2023
Posted financials
Added Form 990 for fiscal year 2021
July 4, 2023
Updated personnel
Identified 1 new personnel
Nonprofit Types
Public sector nonprofitsBusiness and community development organizations
Issues
Community improvementEconomic developmentBusiness and industry
Characteristics
MembershipsReceives government fundingManagement and technical assistance
General information
Address
5159 Mochel Dr
Downers Grove, IL 60515
Metro area
Chicago-Naperville-Elgin, IL-IN-WI
County
DuPage County, IL
Website URL
dgedc.com/ 
Phone
(630) 729-0380
IRS details
EIN
87-0772222
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2006
Eligible to receive tax-deductible contributions (Pub 78)
No
Categorization
NTEE code, primary
S30: Economic Development
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Independent
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