Illinois Center for Employee Ownership
Public records show a registered, tax-exempt organization in good standing.
What it says it does
The Illinois Center for Employee Ownership is the state's leading resource for education, guidance and support on employee ownership.
- Income
- $124,852
- Spending
- $81,089
- Reserves
- 13 months of spending
- Largest source of income
- donations and private grants, 100%
- Highest pay
- $35,496, executive director
Source: Form 990EZ for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. 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 990EZ for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
This organization files the short tax form, which does not ask about boards, policies or audits. That is normal for a small charity and is not a mark against it.
Source: Form 990EZ for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. 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)
- $14,500 spent. The Employee Ownership Business Training Program designed to create scalable Train the Trainer materials that help business owners understand and implement employee ownership best practices, including openbook management and financial literacy. Over a 9month period, ILCEO focused on developing People, Profits and Performance and building structured presentations, guidebooks, case studies, evaluation tools, and marketing templates that can be delivered by state center staff and ambassadors. The pilot also aimed to test outreach strategies with 3 businesses and establish a sustainable model that could be replicated across other State Centers. In Q4 we met with our first partner looking forward to bringing the content to their community. They allowed us to present an EO overview in January 2026 and we are now coordinating on a plan to deliver the first People, Power and Performance presentation. If this is successful the partner would role out the program to 19 other statewide locations based at the University of IL Extension School
- $40,000 spent. ILCEO made substantial progress toward the goals outlined in the EOX Capacity Grant proposal by strengthening organizational infrastructure, expanding outreach, and increasing stakeholder engagement around employee ownership in Illinois. Key operational goals were successfully completed, including implementation of a CRM system, QuickBooks, donor processing tools, and a redesigned website integrated with outreach and automation systems. These improvements enhanced organizational planning, donor engagement, communications, and long-term sustainability. ILCEO also expanded its board by six members and began developing a formal onboarding process to strengthen leadership capacity. The organization participated in four major business conferences and 12 partner events, increasing awareness of employee ownership and reaching more than 750 participants through presentations and marketing efforts. Fundraising and development efforts included submission of 18 grant applications and direct outreach to major foundations, including the McCormick Foundation, Chicago Community Trust, and MacArthur Foundation. While grants were not awarded during the reporting period, ILCEO significantly expanded its fundraising infrastructure and relationships with philanthropic partners. The organization also launched structured donor outreach campaigns, growing its email list to more than 1,000 contacts and achieving email open rates above 40 percent. Government and policy engagement exceeded expectations. ILCEO met with the Governor's Office, Chicago City Council members, Cook County leadership, and more than 12 Illinois legislators to discuss employee ownership policy initiatives and public Offices of Employee Ownership. The organization also participated in Advocacy Day in Springfield and introduced employee ownership office legislation at the city level. ILCEO hosted its annual employee ownership celebration event with nearly 60 RSVPs from business owners, advisors, ecosystem partners, and community stakeholders. The event generated sponsorship and partnership opportunities while strengthening public visibility. Several goals were modified due to staffing and funding limitations. The Program Assistant position was reduced from full-time to part-time support, the public advocacy committee shifted to informal government engagement, and the planned employee ownership promotional video was not completed. Large-scale database development efforts were also scaled back to prioritize operational infrastructure and fundraising capacity. Despite these adjustments, ILCEO established a strong operational and fundraising foundation for future growth. Major accomplishments included CRM implementation, board expansion, public policy engagement, grant development, and expanded awareness of employee ownership throughout Illinois.
Source: Form 990EZ for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. 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)(3) charitable organization.
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? Passed.
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 December 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since August 2024.
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.