2017-05-05T13:18:43-05:00 2016-12-31 364049282 PASQUESI SHEPPARD LLC 585 BANK LANE LAKE FOREST IL 60045 990 2016-01-01 364206288 LAKE COUNTY PARTNERSHIP FOR ECONOMIC DEVELOPMENT INC LAKE 8475971220 100 TRI-STATE INTL DR NO 122 LINCOLNSHIRE IL 60069 KEVIN CONSIDINE PRESIDENT 8475971220 2017-05-02 1 DAVID P WITT P00987194 8472345000 2017-05-02 50.224.107.130 2017-05-02 09:44:01 CD P BB20AD52990FEC3092918C7854FDC84F0E6673D7 DC82B2F155EB087A5358F2388DE9A27958B1AD52 2016 2021-01-29 14:40:06Z JOSEPH LUNA 100 TRI-STATE INTL DR NO 122 LINCOLNSHIRE IL 60069 1091283 0 X LAKECOUNTYPARTNERS.COM X 1998 IL TO MAINTAIN ECONOMIC VITALITY AND QUALITY OF LIFE IN LAKE COUNTY, ILLINOIS BY CREATING AND RETAINING JOBS, STIMULATING CAPITAL INVESTMENT, PURSUING ECONOMIC DIVERSITY AND IMPROVING THE COUNTY'S BUSINESS CLIMATE. 31 30 6 0 0 0 752614 819237 161815 170778 311 373 96557 100895 1011297 1091283 0 0 0 0 548533 638925 0 0 0 386042 423532 934575 1062457 76722 28826 623889 641064 71885 60234 552004 580830 X TO MAINTAIN ECONOMIC VITALITY AND QUALITY OF LIFE IN LAKE COUNTY, ILLINOIS BY CREATING AND RETAINING QUALITY JOBS, STIMULATING CAPITAL INVESTMENT, PURSUING ECONOMIC DIVERSITY AND IMPROVING THE COUNTY'S BUSINESS CLIMATE. 0 1 937746 271673 THE ORGANIZATION IMPLEMENTS AN ECONOMIC DEVELOPMENT PROGRAM THAT FOCUSES ON A) ATTRACTING, RETAINING, AND EXPANDING BUSINESSES, B) ADVOCATING FOR INFRASTRUCTURE IMPROVEMENTS, AND C) SPEARHEADING INITIATIVES THAT BOLSTER BUSINESS SUCCESS. THE ORGANIZATION ACHIEVES THIS THROUGH THE DIRECT DELIVERY OF FINANCIAL PRODUCTS (SBA 504 LOANS AND IRB'S) AND THROUGH STRATEGIC RELATIONSHIPS WITH STATE PROGRAM ADMINISTRATORS, THE LAKE COUNTY DEVELOPMENT COMMUNITY, AND 52 MUNICIPALITIES. AS A RESULT, LAKE COUNTY MAINTAINS AND CONTINUES TO IMPROVE ITS APPEAL AS A GREAT PLACE TO LIVE, WORK, AND GROW. 937746 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 7 0 6 1 0 0 0 0 0 0 0 0 X 31 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X KEVIN CONSIDINE 8475971220 100 TRI-STATE INTERNATIONAL DRIVE LINCOLNSHIRE IL 60069 VALERY GALLAGHER DIRECTOR 2.00 X 0 0 0 GHIDA NEUKIRCH DIRECTOR 2.00 X 0 0 0 JERRY WEBER DIRECTOR 2.00 X 0 0 0 FRANK DEUEL DIRECTOR 2.00 X 0 0 0 DARREN BOUNDY DIRECTOR 2.00 X 0 0 0 DEAN GLASSBERG DIRECTOR 2.00 X 0 0 0 BARRY BURTON DIRECTOR 2.00 X 0 0 0 CHUCK BARTELS DIRECTOR 2.00 X 0 0 0 S MICHAEL RUMMEL DIRECTOR 2.00 X 0 0 0 AARON LAWLOR DIRECTOR 2.00 X 0 0 0 BRENT PAXTON DIRECTOR 2.00 X 0 0 0 NICK SAUER DIRECTOR 2.00 X 0 0 0 JANET DEATHERAGE DIRECTOR 2.00 X 0 0 0 JESSE PETERSON HALL DIRECTOR 2.00 X 0 0 0 LARRY FALBE DIRECTOR 2.00 X 0 0 0 KELLY WATERS DIRECTOR 2.00 X 0 0 0 K MICHAEL WELCH DIRECTOR 2.00 X 0 0 0 BRAD HARPER DIRECTOR 2.00 X 0 0 0 CHARLES LAMPHERE FORMER CHAIRMAN 2.00 X 0 0 0 DONOVAN PEPPER DIRECTOR 2.00 X 0 0 0 JOSEPH LUNA CHAIRMAN 2.00 X X 0 0 0 RICHARD KORENGOLD VICE CHAIRMAN 2.00 X X 0 0 0 MICHAEL STEVENS PRESIDENT & CEO 40.00 X 194166 0 18072 JEFFREY POZEN TREASURER 2.00 X X 0 0 0 KEVIN CONSIDINE MANAGING DIRECTOR, BUSINESS OUTREACH 40.00 X 117314 0 20753 JACK DANILKOWICZ DIRECTOR 2.00 X 0 0 0 JEFFREY J ANDERSON DIRECTOR 2.00 X 0 0 0 KEVIN MEYERS DIRECTOR 2.00 X 0 0 0 DANIEL J JOYCE DIRECTOR 2.00 X 0 0 0 LIBBY BRUNSVOLD DIRECTOR 2.00 X 0 0 0 DAMON HAVILL DIRECTOR 2.00 X 0 0 0 DON HANSEN DIRECTOR 2.00 X 0 0 0 311480 0 38825 2 0 1 0 0 819237 819237 SBA INCOME 525990 99554 99554 ANNUAL MEETING 900099 71224 71224 170778 373 373 OTHER INCOME 900099 100895 100895 100895 1091283 271673 0 373 X 212238 191014 21224 340837 301223 39614 48741 43380 5361 37109 33027 4082 14600 14600 25203 25203 9713 9713 8402 7478 924 55133 49069 6064 10159 10159 7063 6287 776 2633 2633 INVESTOR EVENTS 74807 74807 ECONOMIC DEVELOPMENT PR 71500 71500 TECHNICAL DATA 63344 63344 PUBLIC RELATIONS 35495 35495 45480 41250 4230 1062457 937746 124711 0 597793 623748 1250 1250 10659 8942 87369 80245 14187 7124 623889 641064 14992 15050 43125 30000 13768 15184 71885 60234 X 552004 580830 552004 580830 623889 641064 28826 0 X X 0 1 X 1 0 X 757794 721719 718499 764614 819237 3781863 141600 139938 126299 114415 99554 621806 899394 861657 844798 879029 918791 4403669 0 0 0 4403669 36 35 173 311 373 928 36 35 173 311 373 928 20514 61910 32960 143957 172119 431460 919944 923602 877931 1023297 1091283 4836057 0.91060 0.93990 0.00020 0.00010 X PART III, LINE 12 OTHER INCOME INCLUDES CONSULTING INCOME, ANNUAL MEETING INCOME, AND OTHER MISCELLANEOUS INCOME. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 87369 80245 7124 7124 ACCRUED VACATION 15184 15184 X 1096408 5125 5125 1091283 0 1091283 1067582 5125 5125 1062457 0 1062457 PART X, LINE 2: MANAGEMENT HAS ADOPTED ACCOUNTING PROVISIONS THAT IMPOSE A THRESHOLD FOR DETERMINING WHEN UNCERTAIN TAX POSITIONS SHOULD BE DISCLOSED OR RECORDED. THE THRESHOLD NOW IMPOSED FOR FINANCIAL STATEMENT REPORTING GENERALLY IS HIGHER THAN THE THRESHOLD NOW IMPOSED FOR CLAIMING DEDUCTIONS ON INCOME TAX RETURNS. THE ORGANIZATION UTILIZED THE "MORE LIKELY THAN NOT" CRITERIA AND DETERMINED THAT ALL OF THEIR TAX POSITIONS MEET THAT CRITERIA. THEREFORE, THE ORGANIZATION HAS NOT RECORDED ANY ADJUSTMENTS OR DISCLOSED ANY SITUATIONS THAT AROSE FROM UNCERTAIN TAX POSITIONS. X X X 0 0 0 0 0 0 0 0 0 MICHAEL STEVENS PRESIDENT & CEO 194166 0 0 0 0 0 0 0 18072 0 212238 0 0 0 PART I, LINE 3 COMPENSATION STUDIES ARE PERIODICALLY PERFORMED BY AN INDEPENDENT PARTY. THE STUDIES REVIEW COMPENSATION FOR COMPARABLE POSITIONS AND ORGANIZATIONS. THE BOARD OF GOVERNORS THEN DETERMINES IF THE ORGANIZATION'S COMPENSATION PACKAGE IS COMPARABLE TO OTHER SIMILAR ENTITIES. THE ORGANIZATION HISTORICALLY FOLLOWS THE STUDY'S RECOMMENDATIONS AND SCHEDULE FOR PERIODIC COST OF LIVING ADJUSTMENTS. IN ADDITION, A NEW PRESIDENT, CEO, OR EXECUTIVE DIRECTOR EMPLOYED, SIGNS AN EMPLOYMENT CONTRACT WITH THE ORGANIZATION. FORM 990, PART III, LINE 3 IN DECEMBER 2016, THE ORGANIZATION VOLUNTARILY WITHDREW FROM THE SBA 504 LOAN PROGRAM, AND THE ORGANIZATION'S LOAN PORTFOLIO WAS TRANSFERRED IN JANUARY 2017. FORM 990, PART VI, SECTION B, LINE 11B THE OPERATIONS COMMITTEE OF THE BOARD OF GOVERNORS APPROVES THE FORM 990 AND RECOMMENDS FILING THE FORM CONTINGENT UPON THE FORM 990 BEING PROVIDED TO THE FULL BOARD FOR REVIEW AND COMMENT. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S BOARD OF GOVERNORS DETERMINES WHEN A CONFLICT OF INTEREST EXISTS AMONG ITS MEMBERS AND ADVISES ITS MEMBERS WHEN A CONFLICT DOES EXIST. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION STUDIES ARE PERIODICALLY PERFORMED BY AN INDEPENDENT PARTY. THE STUDIES REVIEW COMPENSATION FOR COMPARABLE POSITIONS AND ORGANIZATIONS. THE BOARD OF GOVERNORS THEN DETERMINES IF THE ORGANIZATION'S COMPENSATION PACKAGE IS COMPARABLE TO OTHER SIMILAR ENTITIES. THE ORGANIZATION HISTORICALLY FOLLOWS THE STUDY'S RECOMMENDATIONS AND SCHEDULE FOR PERIODIC COST OF LIVING ADJUSTMENTS. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S OFFICES. FORM 990, PART IX, LINE 24E MISCELLANEOUS: PROGRAM SERVICE EXPENSES 11,064. MANAGEMENT AND GENERAL EXPENSES 1,606. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 12,670. TELEPHONE: PROGRAM SERVICE EXPENSES 9,285. MANAGEMENT AND GENERAL EXPENSES 1,147. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,432. SBA COSTS: PROGRAM SERVICE EXPENSES 7,168. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,168. DUES AND SUBSCRIPTIONS: PROGRAM SERVICE EXPENSES 5,320. MANAGEMENT AND GENERAL EXPENSES 274. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,594. PRINTING: PROGRAM SERVICE EXPENSES 4,994. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,994. SUPPLIES: PROGRAM SERVICE EXPENSES 1,943. MANAGEMENT AND GENERAL EXPENSES 241. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,184. UTILITIES: PROGRAM SERVICE EXPENSES 1,476. MANAGEMENT AND GENERAL EXPENSES 182. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,658. POSTAGE AND SHIPPING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 780. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 780. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES TO THE ORGANIZATION'S OVERSIGHT OR SELECTION PROCESS DURING THE TAX YEAR.