Chicago Neighborhood Initiatives Inc
- Assets
- $28.0m
- Revenue
- $6.1m
- Investments
- $0.0
- Employees
- 10
- Location
- Chicago, IL
- Founding
- 08/2010
- Data as of
- 06/2022
- EIN
- 27-1832686
Organization Overview
Chicago Neighborhood Initiatives Inc is located in Chicago, IL. The organization was established in 2010. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Chicago Neighborhood Initiatives Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago Neighborhood Initiatives Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Chicago Neighborhood Initiatives Inc generated $6.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $5.8m during the year ending 06/2022. While expenses have increased by 18.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
GENERATING ECONOMIC DEVELOPMENT & COMBATING COMMUNITY DETERIORATION IN LOW - INCOME COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REAL ESTATE DEVELOPMENT: DEVELOPER OF LARGE RETAIL AND INDUSTRIAL SITES IN ECONOMICALLY DISTRESSED NEIGHBORHOODS IN CHICAGO IN ORDER TO BRING MUCH NEEDED JOBS AND ACCESS TO FRESH FOODS TO THE COMMUNITY.
NEW MARKET TAX CREDITS: MANAGES THE NMTC FOR A WHOLLY OWNED SUBSIDIARY TO ENCOURAGE PRIVATE INVESTMENT IN PROJECTS IN ECONOMICALLY DISTRESSED NEIGHBORHOODS THROUGHOUT CHICAGO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Doig President | Officer | 38 | $283,911 |
Jennifer Bransfield General Counsel | Officer | 34 | $222,560 |
Erica King President, Greenwood Archer Capital | Officer | 40 | $179,428 |
Annette Washington Director Of Finance | Officer | 40 | $155,133 |
Timothy Frens Treasurer | OfficerTrustee | 2 | $0 |
Bridget O'keefe Vice President | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bauer Latoza Studion Architectural | 6/29/18 | $545,296 |
Iwema Excavating & Construction Co Escavation And Construction | 6/29/18 | $402,464 |
Dla Piper Llc Legal | 6/29/18 | $214,783 |
Mk Communications Marketing | 6/29/18 | $133,170 |
Gallagher Asphalt Corporation Escavation And Construction | 6/29/18 | $802,028 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $20,000 |
| Related organizations | $0 |
| Government grants | $65,609 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,973,287 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,058,896 |
| Total Program Service Revenue | $683,129 |
| Investment income | $50,260 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$143,394 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$38,408 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,086,031 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $841,032 |
| Compensation of current officers, directors, key employees. | $252,310 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $208,660 |
| Pension plan accruals and contributions | $36,081 |
| Other employee benefits | $114,450 |
| Payroll taxes | $59,609 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $38,693 |
| Fees for services: Accounting | $92,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $101,908 |
| Advertising and promotion | $161,182 |
| Office expenses | $10,572 |
| Information technology | $23,512 |
| Royalties | $0 |
| Occupancy | $31,282 |
| Travel | $18,465 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $155,843 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $62,551 |
| Insurance | $35,174 |
| All other expenses | $0 |
| Total functional expenses | $5,760,480 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,682,392 |
| Savings and temporary cash investments | $4,211,134 |
| Pledges and grants receivable | $736,006 |
| Accounts receivable, net | $421,453 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $870,000 |
| Inventories for sale or use | $877,591 |
| Prepaid expenses and deferred charges | $284,952 |
| Net Land, buildings, and equipment | $5,885,613 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $13,075,734 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $28,044,875 |
| Accounts payable and accrued expenses | $544,989 |
| Grants payable | $0 |
| Deferred revenue | $1,191,152 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $11,256,397 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $12,992,538 |
| Net assets without donor restrictions | $13,812,835 |
| Net assets with donor restrictions | $1,239,502 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $28,044,875 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Chicago Neighborhood Initiatives Inc has recieved totaling $855,000.
| Awarding Organization | Amount |
|---|---|
John D & Catherine T Macarthur Foundation Chicago, IL PURPOSE: IN SUPPORT OF PLACE-BASED COMMUNITY ECONOMIC DEVELOPMENT IN THE ROSELAND NEIGHBORHOOD OF CHICAGO. | $250,000 |
John D & Catherine T Macarthur Foundation Chicago, IL PURPOSE: IN SUPPORT OF PLACE-BASED COMMUNITY ECONOMIC DEVELOPMENT IN THE ROSELAND NEIGHBORHOOD OF CHICAGO. | $250,000 |
John D & Catherine T Macarthur Foundation Chicago, IL PURPOSE: IN SUPPORT OF PLACE-BASED COMMUNITY ECONOMIC DEVELOPMENT IN THE ROSELAND NEIGHBORHOOD OF CHICAGO | $250,000 |
The Elizabeth Morse Charitable Trust 2620341200 Chicago, IL PURPOSE: AWARD TO PROVIDE OPERATING | $100,000 |
Bluhm Family Charitable Foundation Chicago, IL PURPOSE: EXEMPT PURPOSE OF ORGANIZATION | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
Vocational Development Center Inc Council Bluffs, IA | $12,984,673 | $16,204,305 |
Southern Iowa Economic Development Association Ottumwa, IA | $4,848,905 | $15,262,424 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Brighton Park Neighborhood Council Chicago, IL | $4,048,275 | $8,262,492 |
Explore Branson Tourism Branson, MO | $1,396,845 | $7,616,014 |