Chicago Southwest Development Corporation
- Assets
- $23.6m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 08/2014
- Data as of
- 06/2022
- EIN
- 46-1575093
Organization Overview
Chicago Southwest Development Corporation is located in Chicago, IL. The organization was established in 2014. According to its NTEE Classification (X11) the organization is classified as: Single Organization Support, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago Southwest 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 06/2022, Chicago Southwest Development Corporation generated $2.4m in total revenue. All expenses for the organization totaled $3.8m during the year ending 06/2022. While expenses have increased by 11.4% 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
THE MISSION OF THE CHICAGO SOUTHWEST DEVELOPMENT CORPORATION IS TO OWN LAND AND IMPROVEMENTS FOR THE BENEFIT OF CHICAGO SOUTHWEST COMMUNITY ORGANIZATION AND OTHER HEALTHCARE ENTITIES RELATED IN PURPOSE OR FUNCTION TO CHICAGO SOUTHWEST COMMUNITY ORGANIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHICAGO SOUTHWEST DEVELOPMENT CORPORATION IS DEVELOPING A MULTIPURPOSE CAMPUS ON 30 ACRES CALLED THE FOCAL POINT COMMUNITY CAMPUS (THE "CAMPUS"). THE CAMPUS WILL RESIDE ON THREE LOTS AT 31ST STREET AND KEDZIE AVENUE IN SOUTHWEST CHICAGO, INCLUDING THE FORMER SITE OF THE WASHBURNE TRADE SCHOOL. THE PROPOSED ONE MILLION SQUARE-FOOT COMPLEX WILL OFFER A RANGE OF RETAIL, WELLNESS, EDUCATION, ARTS, AND RECREATION ELEMENTS FOCUSED ON THE COMPLETE WELL-BEING OF COMMUNITY MEMBERS, INSTEAD OF PURELY ON ONE ELEMENT, SUCH AS HEALTH CARE. SAINT ANTHONY HOSPITAL, A RELATED TAX-EXEMPT ORGANIZATION, WILL SERVE AS A TENANT OF THE CAMPUS AND WILL CONTINUE TO PROVIDE EMERGENCY AND MEDICAL CARE THAT TURNS NO ONE AWAY, REGARDLESS OF ABILITY TO PAY. THERE WILL ALSO BE AN OUTPATIENT AND SPECIALTY CLINIC TO MEET A WIDE RANGE OF REHABILITATIVE AND HEALTH MAINTENANCE NEEDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Guy A Medaglia President & CEO | OfficerTrustee | 20 | $0 |
Peter V Fazio Jr Chairman | OfficerTrustee | 1 | $0 |
Dorval R Carter Jr Vice Chairman | OfficerTrustee | 1 | $0 |
Bob Enkema CFO | Officer | 1 | $0 |
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 | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,000 |
| 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 | $2,358,282 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $201,432 |
| Fees for services: Legal | $394,732 |
| Fees for services: Accounting | $103,399 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $254,296 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $46,071 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $27,900 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $963,327 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $61,314 |
| All other expenses | $23,370 |
| Total functional expenses | $3,772,079 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $314,500 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $20,261,047 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $4,681 |
| Other assets | $3,039,229 |
| Total assets | $23,619,457 |
| Accounts payable and accrued expenses | $2,120,387 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $34,436,014 |
| Total liabilities | $36,706,401 |
| Net assets without donor restrictions | -$13,086,944 |
| 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 | $23,619,457 |