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← INSTITUTE FOR COMMUNITY ECONOMICS INC

Form 990 for tax year 2024

Filed by INSTITUTE FOR COMMUNITY ECONOMICS INC.

Totals

Total revenue
$6,371,483
Total expenses
$6,374,558
Contributions and grants received
$5,199,903
Grants paid
$4,408,279
Program service revenue
$508,071
Investment income
$663,509
Other revenue
$0
Total assets, end of year
$26,390,041
Total liabilities, end of year
$24,922,180
Net assets or fund balances, end of year
$1,467,861
Program services expenses (Part IX)
$5,991,655
Management and general expenses
$268,213
Fundraising expenses
$114,690
Program service expenses (Part III)
$5,991,655

Program services were 94.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • ADNAN BOKHARI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • BRETT MACLEOD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • CHRYSTAL KORNEGAY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • DAN EHRENBERG

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JOHN MANEVAL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • LEILA FINUCANE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • LORI GLASS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MARLA BILONICK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • PRIYA JAYACHANDRAN

    PRESIDENT

    Total calculated
    $361,409
    From this org
    $337,700
    From related orgs
    $0
    Other
    $23,709
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $334,900
    Bonus
    $0
    Other
    $2,800
    Deferred
    $20,100
    Nontaxable benefits
    $3,609
    Filer's total
    $361,409

  • RON GRZYWINSKI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • SAL STEVEN-HUBBARD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • VINCE TOYE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • ALICE HAMILTON EVERT

    ASSISTANT SECRETARY/SECRETARY

    Total calculated
    $172,350
    From this org
    $138,401
    From related orgs
    $0
    Other
    $33,949
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $134,401
    Bonus
    $4,000
    Other
    $0
    Deferred
    $8,700
    Nontaxable benefits
    $25,249
    Filer's total
    $172,350

  • AMY LIEBER

    SECRETARY (AS OF 12/3/24)

    Total calculated
    $106,960
    From this org
    $92,435
    From related orgs
    $0
    Other
    $14,525
    Hours/week
    4 + 36 related

  • FATIMA DIABATE

    DIRECTOR OF HR

    Total calculated
    $104,334
    From this org
    $90,694
    From related orgs
    $0
    Other
    $13,640
    Hours/week
    1 + 39 related

  • JOSH EARN

    VICE PRESIDENT

    Total calculated
    $258,199
    From this org
    $222,697
    From related orgs
    $0
    Other
    $35,502
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $213,676
    Bonus
    $9,000
    Other
    $21
    Deferred
    $13,380
    Nontaxable benefits
    $22,122
    Filer's total
    $258,199

  • NICOLE MEYER

    ASSISTANT SECRETARY (UNTIL 8/1/24)

    Total calculated
    $89,463
    From this org
    $75,780
    From related orgs
    $0
    Other
    $13,683
    Hours/week
    6 + 34 related

  • NICOLE PROROCK

    TREASURER (UNTIL 11/22/24)

    Total calculated
    $238,478
    From this org
    $212,548
    From related orgs
    $0
    Other
    $25,930
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $199,005
    Bonus
    $5,000
    Other
    $8,543
    Deferred
    $12,075
    Nontaxable benefits
    $13,855
    Filer's total
    $238,478

  • STEVEN SPEARS

    TREASURER (AS OF 11/20/24)

    Total calculated
    $22,820
    From this org
    $22,820
    From related orgs
    $0
    Other
    $0
    Hours/week
    10 + 30 related

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

  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE ORGANIZATION'S RELATED ENTITY, NATIONAL HOUSING TRUST, HAS A COMPENSATION COMMITTEE AS PART OF ITS BOARD COMMITTEE STRUCTURE. THE COMPENSATION COMMITTEE HAS WORKED WITH A THIRD PARTY CONSULTANT WHO PROVIDED COMPARABILITY DATA WHICH WAS USED TO SET THE SALARY OF THE PRESIDENT.
PART I, LINE 4A
NICOLE MEYER RECEIVED A SEVERANCE PAYMENT OF $8,543 IN 2024.
PART I, LINE 7
BONUS COMPENSATION IS BASED ON SPECIFIED BUDGET TARGETS.

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

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.

Related partnerships

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

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202523199349301322

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