820 W Belle Plaine Cooperative
- Assets
- $8.1m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 10
- Location
- Chicago, IL
- Founding
- 12/1995
- Data as of
- 09/2019
- EIN
- 36-3998606
Organization Overview
820 W Belle Plaine Cooperative is located in Chicago, IL. The organization was established in 1995. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, under the broad grouping of Housing & Shelter and related organizations. As of 09/2019, 820 W Belle Plaine Cooperative employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 820 W Belle Plaine Cooperative 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 09/2019, 820 W Belle Plaine Cooperative generated $2.4m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $2.9m during the year ending 09/2019. While expenses have increased by 1.6% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO MAINTAIN RENTAL APTS FOR LOW INCOME TENANTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OPERATE A 271 UNIT RESIDENTIAL RENTAL APARTMENT BUILDING FOR LOW INCOME TENANTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lasun Omotunwashe President | OfficerTrustee | 4 | $0 |
Celestin Nounkwa Treasurer | OfficerTrustee | 4 | $0 |
Hilda Lainjo Vice President | OfficerTrustee | 4 | $0 |
Taiwo Jenkins Secretary | OfficerTrustee | 4 | $0 |
Vera Lekakh Assistant Treasurer | Trustee | 4 | $0 |
Nena Kalu First Assistant Secretary | Trustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Prairie Management & Development Inc Property Management | 9/29/19 | $246,572 |
Allied Universal Security Services Security Service | 9/29/19 | $151,388 |
Windward Roofing & Construction Inc Roofing Contractor | 9/29/19 | $120,805 |
Landmark Restoration Masonry Contractor | 9/29/19 | $111,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $10,750 |
| 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 | $2,389,201 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $405,013 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $135,581 |
| Payroll taxes | $31,534 |
| Fees for services: Management | $224,591 |
| Fees for services: Legal | $7,840 |
| Fees for services: Accounting | $33,368 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,980 |
| Office expenses | $15,988 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $28,055 |
| Interest | $15 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $872,571 |
| Insurance | $57,740 |
| All other expenses | $0 |
| Total functional expenses | $2,928,803 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $283,567 |
| Savings and temporary cash investments | $102,556 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $42,208 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $97,513 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,541,394 |
| Total assets | $8,052,333 |
| Accounts payable and accrued expenses | $415,162 |
| Grants payable | $0 |
| Deferred revenue | $6,374 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $14,334,512 |
| Total liabilities | $14,756,048 |
| Net assets without donor restrictions | -$6,703,715 |
| 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 |
| Total liabilities and net assets/fund balances | -$6,703,715 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Martin Luther Home Corporation Dubuque, IA | $34,357,421 | $17,283,638 |
Apple Canyon Lake Property Owners Association Apple River, IL | $10,186,851 | $3,960,232 |
820 W Belle Plaine Cooperative Chicago, IL | $8,052,333 | $2,389,201 |
Building Owners And Managers Association Of Chicago Chicago, IL | $1,459,387 | $2,903,504 |
Lake Holiday Property Owners Association Inc Somonauk, IL | $7,075,550 | $2,253,751 |
Carr Square Tenant Corporation Saint Louis, MO | $3,519,634 | $1,262,069 |
Csl Community Association Inc North Vernon, IN | $4,686,607 | $1,182,975 |
Eastern Iowa Regional Housing Corporation Dubuque, IA | $5,116,993 | $1,481,771 |
Home Builders Assn Of Des Moines Johnston, IA | $702,713 | $1,312,598 |
Lake Winnebago Home Owners Association Lake Winnebago, MO | $7,105,548 | $1,164,558 |
William E English Foundation Indianapolis, IN | $7,061,359 | $1,037,570 |
Panora Cooperative Cablevision Association Inc Panora, IA | $431,429 | $971,770 |