Chicago Metropolitan Housing Development Corporation
- Assets
- $48.8m
- Revenue
- $10.2m
- Investments
- $0.0
- Employees
- 6
- Location
- Chicago, IL
- Founding
- 11/1997
- Data as of
- 12/2023
- EIN
- 36-3833156
Organization Overview
Chicago Metropolitan Housing Development Corporation is located in Chicago, IL. The organization was established in 1997. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Chicago Metropolitan Housing Development Corporation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago Metropolitan Housing Development Corporation 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 12/2023, Chicago Metropolitan Housing Development Corporation generated $10.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $10.7m during the year ending 12/2023. While expenses have increased by 4.0% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
CMHDCS MISSION IS TO RETAIN AND DEVELOP PROPERTIES WITH BOTH AFFORDABLE AND MARKET RATE HOUSING IN CHICAGO . CMHDC TARGETS AREAS VUNERABLE TO AFFORDABLE HOUSING SHORTAGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CMHDC PROVIDES REVITALIZATION,DEVELOPMENT,FINANCING AND RENTALS OF LOW AND MODERATE INCOME HOUSING WITH EMPHASIS ON PROMOTING MIXED INCOME DEVELOPMENTS AND COMMUNITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rafael Leon CEO | Officer | 40 | $194,955 |
Jack Markowski Director | Trustee | 1 | $0 |
Pamela Daniels Halisi Treasurer/secy | OfficerTrustee | 2 | $0 |
Rosanna Marquez Director | OfficerTrustee | 2 | $0 |
Bruce Martin President/dir | Trustee | 0.5 | $0 |
Theodore Weldon III Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rosenthal Insurance Insurance | 12/30/23 | $460,264 |
Kass Management Property Management | 12/30/23 | $316,148 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $8,784,731 |
| Investment income | $45,224 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,244,863 |
| 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. | $194,955 |
| Compensation of current officers, directors, key employees. | $44,442 |
| Compensation to disqualified persons | $405,173 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $66,819 |
| Payroll taxes | $43,248 |
| Fees for services: Management | $465,067 |
| Fees for services: Legal | $173,499 |
| Fees for services: Accounting | $85,770 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $204,865 |
| Office expenses | $237,649 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $117,153 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,952,150 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,938,065 |
| Insurance | $443,014 |
| All other expenses | $169,365 |
| Total functional expenses | $10,703,797 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,305,898 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $191,985 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $479,438 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,379,558 |
| Net Land, buildings, and equipment | $44,205,586 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $191,935 |
| Total assets | $48,754,400 |
| Accounts payable and accrued expenses | $1,683,403 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $43,965,293 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,412,262 |
| Total liabilities | $48,060,958 |
| Net assets without donor restrictions | $693,442 |
| Net assets with donor restrictions | $0 |
| 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 | $48,754,400 |