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Somercor 504 INC

Public charity
Community Development · CHICAGO, IL · EIN 36-3837330
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About

Administer SBA 504 loan program and other economic development activities in illinois, four counties in indiana, and two counties in wisconsin.

Donations are tax-deductible
Category
Community Development
Employees
30
Volunteers
50

Financial Snapshot

FY ending 2024-09-30
Revenue
$7.0M
Expenses
$6.9M
Assets
$5.0M
Liabilities
$2.3M

Financial history

$7.0M$3.5M$0
161718192021222324
RevenueExpenses
Latest FY2024: $7.0M · Peak FY2023: $7.0M · Avg: $6.2M
SOMERCOR 504 INC
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Address

209 South Lasalle ST 203
Chicago, IL, 60604-000

Governance

Voting board members13
Independent members12
Conflict-of-interest policyYes
Whistleblower policyYes
Doc-retention policyYes
Audit committeeYes
990 reviewed by boardNo

Compensation practices

Severance paymentsNo
Equity-based compNo
Supplemental retirement planNo
Compensation committeeYes
Used comp surveyYes
Board approved compYes
Initial contract exceptionNo
Public records
ProPublica Nonprofit Explorer ↗
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