Rockford Local Development Corporation
Public records raise at least one point you should look into before giving.
What it says it does
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
- Income
- $1.1 million
- Spending
- $1.3 million
- Employees
- 7
- Volunteers
- 15
- Highest pay
- $200,606, executive di
Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. How we rate
Financial health
We do not score finances when yearly spending is very small or the return has too little detail. The ratios stop meaning much at that size.
Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. How we rate
Governance
This return does not answer enough of the governance questions to score.
Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (2)
- 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 57.0 MILLION PORTFOLIO OF LOANS TO 128 BUSINESSES. IN FY 2025, ROCKFORD LOCAL DEVELOPMENT CORPORATION CLOSED 7 SBA 504 LOANS IN THE AMOUNT OF 6,852,000 AND APPROVED 8 NEW SBA 504 LOANS FOR AN ADDITIONAL 3,042,000.
- RLF PROGRAM: ROCKFORD LOCAL DEVELOPMENT CORPORATION ALSO MANAGES SIX REVOLVING LOAN PROGRAMS SERVING FOUR COUNTIES IN NORTHERN ILLINOIS (OGLE, MCHENRY, WINNEBAGO AND BOONE). TOTALING 7,632,378, THESE LOAN FUNDS ARE TARGETED TO SERVE LOW-INCOME COMMUNITIES, DISADVANTAGED BUSINESSES AND MANUFACTURING EMPLOYMENT. PRESENTLY, THERE ARE APPROXIMATELY 159 LOANS OUTSTANDING TO SMALL BUSINESSES. IN FY 2025, ROCKFORD LOCAL DEVELOPMENT CORPORATION, THROUGH ITS MANAGEMENT OF THESE SIX REVOLVING LOAN PROGRAMS, CLOSED 40 LOANS FOR ELIGIBLE PROJECTS TOTALING 2,427,146.
Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(6) business league.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.
Are donations tax-deductible? Caution.
Not on the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending September 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.