Residents Development Corporation
- Assets
- $358.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 12/1991
- Data as of
- 12/2021
- EIN
- 51-0245235
Organization Overview
Residents Development Corporation is located in Chicago, IL. The organization was established in 1991. 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. Residents 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 12/2021, Residents Development Corporation generated $76.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (37.9%) each year. All expenses for the organization totaled $100.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
PROVIDE LOW AND MODERATE HOUSING TO INDIVIDUALS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Gaddy President | 20 | $12,000 | |
Pamela Kirian Director | 2 | $0 | |
Faye Carter Secretary | 5 | $0 | |
Melvin Gunn VP Treasurer | 10 | $0 | |
Percy Wicks Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $30,098 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $45,893 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $75,991 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $12,000 |
| Professional fees and other payments to independent contractors | $3,303 |
| Occupancy, rent, utilities, and maintenance | $31,854 |
| Printing, publications, postage, and shipping | $198 |
| Other expenses | $52,846 |
| Total expenses | $100,201 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $205,374 |
| Other assets | $0 |
| Total assets | $358,764 |
| Total liabilities | $32,734 |
| Net assets or fund balances | $326,030 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iec Hotel Corporation West Des Moines, IA | $103,529,195 | $16,531,928 |
Milwaukee Economic Development Corp Milwaukee, WI | $129,937,785 | $4,507,113 |
The Center Of Workforce Innovations Inc Valparaiso, IN | $2,958,255 | $14,608,336 |
Black Hawk County Gaming Assoc Waterloo, IA | $18,246,475 | $5,898,126 |
World Business Chicago Chicago, IL | $9,302,792 | $9,942,081 |
Enlace Chicago Chicago, IL | $7,912,354 | $9,016,287 |
West Central Indiana Economic Development District Inc Terre Haute, IN | $2,629,970 | $4,624,225 |
Common Wealth Development Inc Madison, WI | $16,900,042 | $3,774,568 |
Evansville Vanderburgh County Convention & Visitors Bureau Inc Evansville, IN | $5,490,585 | $3,551,749 |
Milwaukee Urban Strategic Investment Corp Milwaukee, WI | $23,035,863 | $4,044,506 |
Far South Cdc Chicago, IL | $4,303,074 | $2,694,787 |
Northwest Side Community Development Corporation Milwaukee, WI | $11,140,702 | $4,254,876 |