Program areas at RLDC
Sba 504 loan program: Rockford Local Development Corporation is a certified Development company (cdc) under the u.s. small business administration's sba 504 program. Rockford Local Development Corporation serves the state of Illinois. Certification through sba for this program requires that the cdc be a not-for-profit organization. Sba 504 provides long term, fixed rate, subordinated debt to eligible small businesses. The Rockford Local Development Corporation currently manages a 57.3 million portfolio of loans to 147 businesses. In fy 2023, Rockford Local Development Corporation closed 4 sba 504 loans in the amount of 5,626,000 and approved 9 new sba 504 loans for an additional 11,375,000.
Rlf program: Rockford Local Development Corporation also manages six revolving loan programs serving four counties in northern Illinois (stephenson, mchenry, winnebago and boone). Totaling 6,177,220, these loan funds are targeted to serve low-income communities, disadvantaged businesses and manufacturing employment. Presently, there are approximately 147 loans outstanding to small businesses. In fy 2023, Rockford Local Development Corporation, through its management of these six revolving loan programs, closed 51 loans for eligible projects totaling 2,889,850.
Personnel at RLDC
| Name | Title | Compensation | Date of data |
|---|
| Debbie Kimes | Chief Financial Officer | | 2024-01-24 |
| John Phelps | Executive Director | $182,117 | 2023-03-01 |
| Karl Swanson | Assistant TR | $0 | 2022-09-30 |
| Brian Peterson | Past Chairman | $0 | 2022-09-30 |
| Ed Munguia | Vice Chair | $0 | 2022-09-30 |
| ...and 6 more key personnel |
Financials for RLDC
| Revenues | FYE 09/2023 | FYE 09/2022 | % Change |
|---|
| Total grants, contributions, etc. | $1,042,400 | $690,600 | 50.9% |
| Program services | $869,926 | $806,015 | 7.9% |
| Investment income and dividends | $0 | $0 | - |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $0 | $0 | - |
| Net gain from sale of non-inventory assets | $1,974 | $1,859 | 6.2% |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $0 | $0 | - |
| Total revenues | $1,914,300 | $1,498,474 | 27.7% |
Organizations like RLDC
| Organization | Type | Location | Revenue |
|---|
| Small Business Growth Corporation | 501(c)(6) | Springfield, IL | $8,060,894 |
| Montana Business Assistance Connection | 501(c)(6) | Helena, MT | $1,856,589 |
| Iowa Lakes Corridor Development Cor | 501(c)(6) | Spencer, IA | $508,613 |
| Central Minnesota Development Company | 501(c)(6) | Andover, MN | $1,198,809 |
| Wilmington Business Development | 501(c)(6) | Wilmington, NC | $1,504,050 |
| Utah Certified Development Company | 501(c)(6) | Ogden, UT | $2,629,750 |
| Greater Spokane Incorporated (GSI) | 501(c)(6) | Spokane, WA | $5,819,739 |
| Greater Wichita Partnership | 501(c)(6) | Wichita, KS | $3,535,389 |
| York County Economic Alliance | 501(c)(6) | York, PA | $3,255,423 |
| Grow Cedar Valley | 501(c)(6) | Waterloo, IA | $2,150,725 |
Data update history
April 19, 2024
Updated personnel
Identified 1 new personnel
April 19, 2024
Used new vendors
Identified 1 new vendor, including
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2021
June 17, 2023
Posted financials
Added Form 990 for fiscal year 2022
June 15, 2023
Updated personnel
Identified 3 new personnel
Nonprofit Types
Public sector nonprofitsBusiness and community development organizationsHeadquarter / parent organizations
Issues
Business and industry
Characteristics
State / local levelReceives government fundingEndowed support
General information
- Address
- 120 W State St
- Rockford, IL 61101
- Metro area
- Rockford, IL
- County
- Winnebago County, IL
- Website URL
- rldc.us/Â
- Phone
- (815) 987-8675
IRS details
- EIN
- 36-3038678
- Fiscal year end
- September
- Taxreturn type
- Form 990
- Year formed
- 1979
- Eligible to receive tax-deductible contributions (Pub 78)
- No
Categorization
- NTEE code, primary
- S43: Management Services for Small Business, Entrepreneurs
- NAICS code, primary
- 926110: Economic Development Corporations and Economic Program Organizations
- Parent/child status
- Central organization
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