United Center Community Business Development Fund
- Assets
- $721.6k
- Revenue
- $16.0
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 03/1997
- Data as of
- 12/2022
- EIN
- 36-4000614
Organization Overview
United Center Community Business Development Fund is located in Chicago, IL. The organization was established in 1997. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. United Center Community Business Development Fund 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 12/2022, United Center Community Business Development Fund generated $16.0 in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (65.7%) each year. All expenses for the organization totaled $6.7k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE UNITED CENTER COMMUNITY ECONOMIC DEVELOPMENT FUND (FUND) FOSTERS COMMUNITY REDEVELOPMENT IN THE ECONOMICALLY DEPRESSED NEAR WEST SIDE OF CHICAGO NEIGHBORHOOD. THE FUND PROVIDES LOANS AND, IN SOME CASES, LOAN GUARANTEES, TO ORGANIZATIONS THAT WILL CREATE JOBS FOR RESIDENTS OF THE COMMUNITY.IN PROVIDING LOANS AND LOAN GUARANTEES TO BUSINESSES IN THE COMMUNITY WHICH COULD OTHERWISE NOT OBTAIN FINANCING TO EXPAND OR RELOCATE TO CREATE JOBS IN THE COMMUNITY, THE FUND IS RELIEVING POVERTY AND COMBATING COMMUNITY DETERIORATION.IN ADDITION TO THE ABOVE ACTIVITIES, THE FUND MAY AT TIMES MAKE ANNUAL DONATIONS TO THE NEAR WEST SIDE ECONOMIC DEVELOPMENT ORGANIZATION, WHICH IS QUALIFIED IRC 501(C)(3) ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Howard Pizer Secretary | 0 | $0 | |
Mr Steve Rucks Treasurer | 0 | $0 | |
Ms Nadine Heidrich Director | 0 | $0 | |
Mr Earnest Gates Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $16 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $16 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $443 |
| Total operating and administrative expenses | $443 |
| Contributions, gifts, grants paid | $6,300 |
| Total expenses and disbursements | $6,743 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $60,940 |
| Savings and temporary cash investments | $53,071 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $500,000 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $107,564 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $721,575 |
| Accounts payable and accrued expenses | $14,751 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $14,751 |