Mission
FOSTER ECONOMIC DEVELOPMENT AND JOB CREATION THROUGH SBA 504 AND COMMUNITY ADVANTAGE LENDING AND GRANT ADMINISTRATION IN ILLINOIS, INDIANA, AND WISCONSIN.
Public Charity
SOMERCOR 504 INC
SOMERCOR 504 INC is a Public Charity headquartered in CHICAGO, IL. Financial data from the 2025 filing: $8.1M revenue, $7.6M expenses, $6.2M total assets. 1 publicly reported grants to this organization, totaling roughly $250K, appear in IRS filings.
EIN: 363837330
CHICAGO, IL
Economic Development
NTEE: S30
Latest filing: 2025
Total Revenue$8.1M
Total Expenses$7.6M
Total Assets$6.2M
Grant Records1
Funding Total$250K
Filing Years2021–2025
Where $100 goes at Somercor 504 Inc
How Somercor 504 Inc divides every $100 it spends, from its own Form 990 filings, averaged across 9 years.
$78
Programs
the work itself
$22
Management
running the organization
$0
Fundraising
none reported
No fundraising costs are reported. That often means fundraising runs through a separate affiliated organization that files its own return.
Inside the $78 for programs
$70
Provided small businesses with long-term, fixed-rate sba 504 financing for the purchase of facilities and equipment, serviced the organization's loan portfolio, and administered city of Chicago grant programs…
$8
Through the sba community advantage program, somercor originates loans of $50,000 to $350,000 to small businesses, with the majority serving borrowers in underserved markets
Source: Form 990 filings with the IRS, latest fiscal year 2025. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.
Sample Grants Received
General support for programs, operations and other charitable purposes
$250,000
Showing up to 5 of 1 total records — full history available with membership.
Officers & Directors
VP MARKETING & COMMUNICATIONS
Amber Smith
DIRECTOR
Brian Burke
FORMER EVP & CLO
Brian Comiskey
SENIOR VICE PRESIDENT
Darin Gehrke
EXECUTIVE VICE PRESIDENT
David Sommers
DIRECTOR
Dean Avdalas
Officer compensation and complete director data available with membership.
Top Grant Purposes
Financial Trends
| Year | Revenue | Expenses | Assets |
|---|---|---|---|
| 2025 | $8.1M | $7.6M | $6.2M |
| 2024 | $7.0M | $6.9M | $5.0M |
| 2023 | $7.0M | $6.4M | $4.6M |
| 2022 | $6.8M | $6.5M | $3.4M |
| 2021 | $5.5M | $5.3M | $3.0M |
Between 2021 and 2025, reported annual revenue grew from $5.5M to $8.1M (+48%), with total assets most recently reported at $6.2M.
Interactive year-over-year charts and full filing details available with membership.