Illinois Center for Employee Ownership

What it reported doing in 2025

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.

Financial Efficiency

• Mission deployment rate: 43.7%; rating input score 44
• Program expense ratio: 67.2%; rating input score 67

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100

Sustainability

• Operating margin: 35.1%; rating input score 85; 85th percentile among comparable filings
• Total-asset coverage ratio: 1.09; rating input score 62; 62nd percentile among comparable filings
• Liabilities to assets ratio: Limited
• Officer compensation ratio: 43.8%; rating input score 7; 7th percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: Limited
• Asset growth: Limited