2016-05-05T09:29:36-05:00 2015-12-31 364049282 PASQUESI SHEPPARD LLC 585 BANK LANE LAKE FOREST IL 60045 990 2015-01-01 364206288 LAKE COUNTY PARTNERSHIP FOR ECONOMIC DEVELOPMENT INC LAKE 8475971220 100 TRI-STATE INTL DR NO 122 LINCOLNSHIRE IL 60069 MICHAEL STEVENS PRESIDENT 8475971220 2016-05-03 1 PATRICK C GRAS P00690049 8472345000 2016-04-27 2015 2016-09-27 15:27:22Z JOSEPH LUNA 100 TRI-STATE INTL DR NO 122 LINCOLNSHIRE IL 60069 1011297 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 31 6 0 0 0 704499 752614 126299 161815 173 311 32960 96557 863931 1011297 0 0 0 0 458851 548533 0 0 0 277436 386042 736287 934575 127644 76722 523250 623889 47968 71885 475282 552004 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 0 809494 258372 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. 809494 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 9 0 6 1 0 0 0 0 0 0 0 0 X 31 31 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X MICHAEL STEVENS 8475971220 100 TRI-STATE INTERNATION DRIVE LINCOLNSHIRE IL 60069 MARVIN BEMBRY DIRECTOR 2.00 X 0 0 0 MATTHEW PRIMACK DIRECTOR 2.00 X 0 0 0 VALERY GALLAGHER DIRECTOR 2.00 X 0 0 0 SUZANNE ZUPEC 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 BILL WESTERMAN DIRECTOR 2.00 X 0 0 0 JANET DEATHERAGO DIRECTOR 2.00 X 0 0 0 DARADE COLLINS 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 STEVE KERMISCH 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 GAIL EDGAR DIRECTOR 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 X 187513 0 12726 JEFFREY POZEN TREASURER 2.00 X X 0 0 0 KEVIN CONSIDINE MANAGING DIRECTOR, BUSINESS OUTREACH 40.00 X 113028 0 18180 300541 0 30906 2 0 1 0 0 752614 752614 SBA INCOME 525990 114415 114415 ANNUAL MEETING 900099 47400 47400 161815 311 311 OTHER INCOME 900099 96557 96557 96557 1011297 258372 0 311 X 200239 176211 24028 265448 233594 31854 46172 40631 5541 36674 32272 4402 14630 14630 36881 13551 23330 18324 18324 10479 9222 1257 53571 47142 6429 17440 17440 21500 18920 2580 2421 2421 ECONOMIC DEVELOPMENT PR 54429 54429 INVESTOR EVENTS 51082 51082 DUES AND SUBSCRIPTIONS 30286 30048 238 TECHNICAL DATA 24469 24469 50530 42159 8371 934575 809494 125081 0 476857 597793 1250 10305 10659 87369 73182 36088 14187 523250 623889 9967 14992 26000 43125 12001 13768 47968 71885 X 475282 552004 475282 552004 523250 623889 76722 0 X X 0 1 X 1 0 X 706991 757794 721719 718499 764614 3669617 135435 141600 139938 126299 114415 657687 842426 899394 861657 844798 879029 4327304 0 0 0 4327304 116 36 35 173 311 671 116 36 35 173 311 671 16585 20514 61910 32960 143957 275926 859127 919944 923602 877931 1023297 4603901 0.93990 0.96740 0.00010 0.00020 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 87369 73182 14187 14187 ACCRUED VACATION 13328 ACCRUED EXPENSES 440 13768 X 1023297 12000 12000 1011297 0 1011297 946575 12000 12000 934575 0 934575 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 187513 0 0 0 0 0 0 0 12726 0 200239 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 VI, SECTION B, LINE 11 FORM 990 IS PRESENTED TO THE OFFICERS OF THE BOARD OF GOVERNORS, WHO, UPON REVIEW, MAKE A RECOMMENDATION TO THE BOARD TO SUBMIT IT AS PREPARED. 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 15,587. MANAGEMENT AND GENERAL EXPENSES 1,456. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 17,043. PUBLIC RELATIONS: PROGRAM SERVICE EXPENSES 11,521. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 11,521. TELEPHONE: PROGRAM SERVICE EXPENSES 8,356. MANAGEMENT AND GENERAL EXPENSES 1,139. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 9,495. LOSS ON DISPOSAL OF ASSETS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 4,699. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,699. PRINTING: PROGRAM SERVICE EXPENSES 2,991. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,991. SUPPLIES: PROGRAM SERVICE EXPENSES 2,254. MANAGEMENT AND GENERAL EXPENSES 308. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,562. UTILITIES: PROGRAM SERVICE EXPENSES 1,450. MANAGEMENT AND GENERAL EXPENSES 197. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,647. POSTAGE AND SHIPPING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 572. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 572. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES TO THE ORGANIZATION'S OVERSIGHT OR SELECTION PROCESS DURING THE TAX YEAR.