Greater Auburn Gresham Development Corporation
- Assets
- $37.6m
- Revenue
- $8.2m
- Investments
- $0.0
- Employees
- 50
- Location
- Chicago, IL
- Founding
- 06/2001
- Data as of
- 12/2022
- EIN
- 36-4377387
Organization Overview
Greater Auburn Gresham Development Corporation, operating under the name Greater Auburn-Gresham Development Corporation, is located in Chicago, IL. The organization was established in 2001. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Greater Auburn-Gresham Development Corporation employed 50 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Auburn-Gresham 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 12/2022, Greater Auburn-Gresham Development Corporation generated $8.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 31.2% each year . All expenses for the organization totaled $6.7m during the year ending 12/2022. While expenses have increased by 26.9% 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
TO FOSTER AND PROMOTE REVITALIZATION OF THE COMMUNITY AREAS THAT IT SERVES INCLUDING ALL OR PARTS OF AUBURN-GRISHAM, ENGLEWOOD, AND GRAND CROSSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY ECONOMIC DEVELOPMENT THE GAGDC WORKS TO FOSTER AND PROMOTE REVITALIZATION OF THE LOW-TO-MODERATE INCOME COMMUNITIES THAT IT SERVES USING COMPREHENSIVE COMMUNITY DEVELOPMENT STRATEGIES. GADC ORGANIZES RESIDENTS AND OTHER COMMUNITY STAKEHOLDERS TO DEVELOP A QUALITY OF LIFE PLAN THAT INTEGRATES EXISTING AND PLANNED ACTIVITIES; AND TO ATTRACT IMPROVED SERVICES, AND OPPORTUNITIES FOR THE COMMUNITY.
THE ORGANIZATION HAS MOVED FORWARD IN ALL THREE OF ITS MAIN ENDEAVORS, OBTAINING ADDED PARTNERS IN THE SERVICE AREA, INCLUDING SPECIAL SERVICE AREA TO IMPROVE THE ECONOMIC VIABILITY OF THE BUSINESS COMMUNITY BY PROMOTING A CLEAN, AND SAFE ENVIRONMENT IN AUBURN-GRESHAM COMMUNITY. THE 4TH ENDEAVOR RELATES TO IMPROVING THE HOUSING STOCK AND PROVIDING AID AND SUPPORT SENIORS IN THE LOCAL AREA.
AUBURN GRESHAM GOLD TO ELEVATE HEALTH SERVICES, SOCIAL SUPPORT SERVICES, EXTENDED DAY PROGRAMS AND EDUCATION WITHIN LOCAL SCHOOLS.WHILE THE EMPHASIS IS ON EDUCATION, THE PROGRAM OFFERS PARENTS AND ADULTS ASSISTANCE THROUGH PROGRAMS THAT PROVIDE JOB PLACEMENT, HEALTH CARE, AND CHILD CARE OPTIONS.
THIS PROGRAM FOCUSES ON IMPROVING THE MATH AND READING LITERACY AND IMPROVING EDUCATION WITHIN THE LOCAL SCHOOLS SERVED BY THE ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Betty Swanson Vp/director | OfficerTrustee | 2 | $0 |
James Drake Secretary/director | OfficerTrustee | 2 | $0 |
Byan Alexander Director | Trustee | 2 | $0 |
Francine Dillard Director | Trustee | 2 | $0 |
Eileen Knightly Director | Trustee | 2 | $0 |
Kham Beard Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $283,805 |
| Related organizations | $0 |
| Government grants | $7,534,504 |
| All other contributions, gifts, grants, and similar amounts not included above | $110,808 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,929,117 |
| Total Program Service Revenue | $427,942 |
| Investment income | $201,497 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$310,101 |
| 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 | $8,248,455 |
| 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. | $241,298 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,637,495 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $152,984 |
| Payroll taxes | $163,868 |
| Fees for services: Management | $73,634 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $76,976 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $42,120 |
| Travel | $2,099 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,941 |
| Interest | $241,787 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,415 |
| Insurance | $5,325 |
| All other expenses | $3,968,411 |
| Total functional expenses | $6,656,997 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,872,222 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,636,046 |
| Accounts receivable, net | $0 |
| 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 | $32,585 |
| Net Land, buildings, and equipment | $51,542 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $10,252,735 |
| Intangible assets | $0 |
| Other assets | $20,736,836 |
| Total assets | $37,581,966 |
| Accounts payable and accrued expenses | $1,154,997 |
| 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 | $118,212 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $20,453,282 |
| Total liabilities | $21,726,491 |
| Net assets without donor restrictions | $15,440,054 |
| Net assets with donor restrictions | $415,421 |
| 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 | $37,581,966 |