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Nonprofiteer
← CHICAGO NEIGHBORHOOD INITIATIVES INC

Form 990 for tax year 2022

Filed by CHICAGO NEIGHBORHOOD INITIATIVES INC.

Totals

Total revenue
$3,776,635
Total expenses
$4,577,556
Contributions and grants received
$2,225,872
Grants paid
$0
Program service revenue
$1,342,416
Investment income
$55,183
Other revenue
$153,164
Total assets, end of year
$26,603,069
Total liabilities, end of year
$12,351,653
Net assets or fund balances, end of year
$14,251,416
Program services expenses (Part IX)
$2,836,036
Management and general expenses
$1,642,121
Fundraising expenses
$99,399
Program service expenses (Part III)
$2,836,036

Program services were 62.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $750

  • 1e · Government grants (contributions)

    $666,996

  • 1f · All other contributions, gifts and grants

    $1,558,126

  • 2a · Program service revenue: DEVELOPMENT FEES

    total $710,492 · related or exempt $710,492

  • 2b · Program service revenue: NMTC FEE INCOME

    total $531,924 · related or exempt $531,924

  • 2c · Program service revenue: SERVICE AND FACILITY MANAGEMENT F

    total $100,000 · related or exempt $100,000

  • 3 · Investment income

    total $55,183 · excluded $55,183

  • 6a · Gross rents

    real property $557,230

  • 6b · Less rental expenses

    real property $782,607

  • 6c · Rental income or loss

    real property -$225,377

  • 6d · Net rental income or loss

    total -$225,377 · related or exempt -$225,377

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $750

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 10a · Gross sales of inventory

    $476

  • 10b · Cost of goods sold

    $188,609

  • 10c · Net income from sales of inventory

    total -$188,133 · related or exempt -$188,133

  • 11a · Other revenue: OTHER INCOME

    total $492,323 · related or exempt $492,323

  • 11b · Other revenue: INVESTMENT GAIN / (LOSS)

    total $74,351 · related or exempt $74,351

  • 11e · Other revenue, total

    $566,674

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,065,801 · program services $671,455 · management and general $319,740 · fundraising $74,606

  • 7 · Other salaries and wages

    total $54,348 · program services $34,239 · management and general $16,305 · fundraising $3,804

  • 8 · Pension plan contributions

    total $30,443 · program services $19,179 · management and general $9,133 · fundraising $2,131

  • 9 · Other employee benefits

    total $99,108 · program services $62,438 · management and general $29,732 · fundraising $6,938

  • 10 · Payroll taxes

    total $64,485 · program services $40,626 · management and general $19,345 · fundraising $4,514

  • 11b · Fees: legal

    total $24,974 · program services $24,974

  • 11c · Fees: accounting

    total $98,750 · management and general $98,750

  • 11g · Fees: other

    total $148,921 · program services $148,921

  • 12 · Advertising and promotion

    total $130,904 · program services $91,633 · management and general $39,271

  • 13 · Office expenses

    total $5,477 · program services $3,451 · management and general $1,643 · fundraising $383

  • 14 · Information technology

    total $26,869 · program services $16,927 · management and general $8,061 · fundraising $1,881

  • 16 · Occupancy

    total $28,288 · program services $17,821 · management and general $8,487 · fundraising $1,980

  • 17 · Travel

    total $21,677 · program services $13,657 · management and general $6,503 · fundraising $1,517

  • 20 · Interest

    total $147,507 · program services $147,507

  • 22 · Depreciation, depletion and amortization

    total $59,373 · program services $56,935 · management and general $2,438

  • 23 · Insurance

    total $39,297 · management and general $39,297

  • 24a · Other expenses: GRANT EXPENSE

    total $1,217,110 · program services $1,217,110

  • 24b · Other expenses: BAD DEBT EXPENSE

    total $950,000 · management and general $950,000

  • 24c · Other expenses: RETURN OF GRANT FUNDS

    total $169,615 · program services $169,615

  • 24d · Other expenses: OTHER ADMIN EXPENSE

    total $86,367 · management and general $86,367

  • 24e · All other expenses

    total $108,242 · program services $99,548 · management and general $7,049 · fundraising $1,645

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,682,392 · end of year $1,669,305

  • 2 · Savings and temporary cash investments

    beginning of year $4,211,134 · end of year $2,219,497

  • 3 · Pledges and grants receivable

    beginning of year $736,006 · end of year $260,865

  • 4 · Accounts receivable

    beginning of year $421,453 · end of year $1,701,433

  • 7 · Other notes and loans receivable

    beginning of year $870,000 · end of year $783,486

  • 8 · Inventories for sale or use

    beginning of year $877,591 · end of year $605,526

  • 9 · Prepaid expenses and deferred charges

    beginning of year $284,952 · end of year $274,098

  • 10a · Land, buildings and equipment: cost or other basis

    $7,370,296

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,774,154

  • 10c · Land, buildings and equipment, net

    beginning of year $5,885,613 · end of year $5,596,142

  • 13 · Investments: program-related

    beginning of year $13,075,734 · end of year $13,492,717

  • 17 · Accounts payable and accrued expenses

    beginning of year $544,989 · end of year $625,724

  • 19 · Deferred revenue

    beginning of year $1,191,152 · end of year $526,735

  • 23 · Secured mortgages and notes payable

    beginning of year $11,256,397 · end of year $11,199,194

  • 27 · Net assets without donor restrictions

    beginning of year $13,812,835 · end of year $13,389,781

  • 28 · Net assets with donor restrictions

    beginning of year $1,239,502 · end of year $861,635

Mission and programs · 2022

Mission

GENERATING ECONOMIC DEVELOPMENT & COMBATING COMMUNITY DETERIORATION IN LOW-INCOME COMMUNITIES.

Activities or mission (Part I)

GENERATING ECONOMIC DEVELOPMENT AND AFFORDABLE HOUSING & COMBATING COMMUNITY DETERIORATION IN LOW - INCOME COMMUNITIES.

  • REAL ESTATE DEVELOPMENT: DEVELOPER OF LARGE RETAIL AND INDUSTRIAL SITES, AND AFFORDABLE HOUSING IN ECONOMICALLY DISTRESSED NEIGHBORHOODS IN CHICAGO IN ORDER TO BRING MUCH NEEDED JOBS AND HOUSING TO COMMUNITIES.

    Expenses $2,587,086 · Revenue $810,492

  • NEW MARKET TAX CREDITS: MANAGES THE NMTC TO ENCOURAGE PRIVATE INVESTMENT IN PROJECTS IN ECONOMICALLY DISTRESSED NEIGHBORHOODS THROUGHOUT CHICAGO.

    Expenses $248,950 · Revenue $531,924

As filed on the 2022 return.

Listed in Part VII

  • Christian Regan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Angelica Marks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Toni Thompson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Angela Allen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Arnold Pugh

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Lisa Herrera

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Willard Payton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Nicole Jackson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jeanne Gieseke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Darryl Jacobs

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Daniel Watts

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Merlon Jackson

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Thomas McMahon

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Bridget O'Keefe

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Timothy Frens

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Daniel Watts

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Annette Washington

    VICE PRESIDENT OF FINANCE, CNI

    Total calculated
    $173,820
    From this org
    $156,516
    From related orgs
    $0
    Other
    $17,304
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $156,516
    Bonus
    $0
    Other
    $0
    Deferred
    $7,215
    Nontaxable benefits
    $10,089
    Filer's total
    $173,820

  • Kimberly Morris

    DIRECTOR OF REAL ESTATE AND COMMUNITY DEVELOPMENT

    Total calculated
    $120,541
    From this org
    $110,729
    From related orgs
    $0
    Other
    $9,812
    Hours/week
    40 + 1 related

  • Jennifer Bransfield

    GENERAL COUNSEL

    Total calculated
    $270,830
    From this org
    $229,767
    From related orgs
    $0
    Other
    $41,063
    Hours/week
    40 + 6 related

    Schedule J breakdown matched by us

    Base
    $229,767
    Bonus
    $0
    Other
    $0
    Deferred
    $10,615
    Nontaxable benefits
    $30,448
    Filer's total
    $270,830

  • David Doig

    PRESIDENT

    Total calculated
    $314,095
    From this org
    $284,731
    From related orgs
    $0
    Other
    $29,364
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $284,731
    Bonus
    $0
    Other
    $0
    Deferred
    $9,160
    Nontaxable benefits
    $20,204
    Filer's total
    $314,095

  • Erica McPherson

    PRESIDENT, GREENWOOD ARCHE

    Total calculated
    $202,898
    From this org
    $188,010
    From related orgs
    $0
    Other
    $14,888
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $188,010
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $14,888
    Filer's total
    $202,898

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • PULLMAN PARK DEVELOPMENT 2 LLC

    TO ACQUIRE, IMPROVE, DEVELOP, LEASE & OPERATE RETAIL FACILITY · IL · income -$320,627 · assets $4,248,822

    Directly controlled by CHICAGO NEIGHBORHOOD INITIATIVES INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • CNI SUBSIDIARY CDE 1 LLC

    RELATED · REAL ESTATE DEVELOPMENT · IL · 0.01% owned · share of income $4 · share of assets $703

  • CNI SUBSIDIARY CDE 2 LLC

    RELATED · REAL ESTATE DEVELOPMENT · IL · 0.01% owned · share of income $16 · share of assets $709

  • CNI RETAIL LEVERAGE FUND LLC

    RELATED · LEVERAGE LENDING ACTIVITIES · IL · 95% owned · share of income $29,083 · share of assets $2,960,587

  • GRIT CHICAGO LLC

    RELATED · REAL ESTATE DEVELOPMENT · IL · 13.5% owned · share of income -$1,501 · share of assets $3,161,873

  • CNI SUBSIDIARY CDE 3 LLC

    RELATED · REAL ESTATE DEVELOPMENT · IL · 0.01% owned · share of income $1 · share of assets $501

  • CNI SUBSIDIARY CDE 4 LLC

    RELATED · REAL ESTATE DEVELOPMENT · IL · 0.01% owned · share of income $3 · share of assets $600

  • 103RD AND WOODLAWN LLC

    RELATED · RENTAL REAL ESTATE · IL · 51% owned · share of assets $1,758,855

  • RECLAIMING NORTH LAWNDALE LLC

    RELATED · REAL ESTATE DEVELOPMENT · IL · 51% owned

  • PULLMAN GATEWAY LLC

    RELATED · REAL ESTATE DEVELOPMENT · IL · 51% owned · share of assets $665,530

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • PARK NATIONAL BANK INITIATIVES INC

    C · ADMINISTRATION OF NEW MARKET TAX CREDITS · IL · 100% owned · share of income -$2,145 · share of assets $45,626

  • PULLMAN ARTSPACE LLC

    C · DEVELOPMENT OF AFFORDABLE HOUSING FOR ARTIST IN THE PULLMAN COMMUNITY · IL · 40% owned

Provenance

Return type
form_990
Tax year
2022
Filed
29 February 2024
IRS schema version
2022v5.0
Source object
202410609349300026

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