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Nonprofiteer
← CHICAGO NEIGHBORHOOD INITIATIVES INC

Form 990 for tax year 2023

Filed by CHICAGO NEIGHBORHOOD INITIATIVES INC.

Totals

Total revenue
$4,099,612
Total expenses
$2,842,814
Contributions and grants received
$1,823,858
Grants paid
$356,021
Program service revenue
$1,500,308
Investment income
$390,714
Other revenue
$384,732
Total assets, end of year
$27,335,405
Total liabilities, end of year
$11,827,191
Net assets or fund balances, end of year
$15,508,214
Program services expenses (Part IX)
$2,026,882
Management and general expenses
$733,222
Fundraising expenses
$82,710
Program service expenses (Part III)
$2,026,882

Program services were 71.3% 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.

  • 1e · Government grants (contributions)

    $21,273

  • 1f · All other contributions, gifts and grants

    $1,802,585

  • 2a · Program service revenue: NMTC FEE INCOME

    total $1,015,022 · related or exempt $1,015,022

  • 2b · Program service revenue: DEVELOPMENT FEES

    total $380,286 · related or exempt $380,286

  • 2c · Program service revenue: SERVICE AND FACILITY M

    total $105,000 · related or exempt $105,000

  • 3 · Investment income

    total $94,914 · excluded $94,914

  • 6a · Gross rents

    real property $542,868

  • 6b · Less rental expenses

    real property $604,584

  • 6c · Rental income or loss

    real property -$61,716

  • 6d · Net rental income or loss

    total -$61,716 · related or exempt -$61,716

  • 7a · Gross sales of assets other than inventory

    other assets $295,800

  • 7b · Less cost or other basis and sales expenses

    other assets $0

  • 7c · Gain or loss

    other assets $295,800

  • 7d · Net gain or loss

    total $295,800 · related or exempt $295,800

  • 11a · Other revenue: AFFILIATE INCOME

    total $322,180 · related or exempt $322,180

  • 11b · Other revenue: OTHER INCOME

    total $124,268 · related or exempt $124,268

  • 11e · Other revenue, total

    $446,448

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $356,021 · program services $356,021

  • 5 · Compensation of officers, directors and key employees

    total $958,983 · program services $604,159 · management and general $287,695 · fundraising $67,129

  • 7 · Other salaries and wages

    total $70,501 · program services $44,416 · management and general $21,150 · fundraising $4,935

  • 8 · Pension plan contributions

    total $3,511 · program services $2,212 · management and general $1,053 · fundraising $246

  • 9 · Other employee benefits

    total $2,043 · program services $1,287 · management and general $613 · fundraising $143

  • 10 · Payroll taxes

    total $44,104 · program services $27,786 · management and general $13,231 · fundraising $3,087

  • 11b · Fees: legal

    total $8,621 · program services $8,621

  • 11c · Fees: accounting

    total $154,780 · management and general $154,780

  • 11g · Fees: other

    total $212,858 · program services $212,858

  • 12 · Advertising and promotion

    total $33,030 · program services $23,121 · management and general $9,909

  • 13 · Office expenses

    total $18,810 · program services $11,850 · management and general $5,643 · fundraising $1,317

  • 14 · Information technology

    total $28,349 · program services $17,860 · management and general $8,505 · fundraising $1,984

  • 16 · Occupancy

    total $140,202 · program services $129,809 · management and general $8,427 · fundraising $1,966

  • 17 · Travel

    total $27,181 · program services $17,124 · management and general $8,154 · fundraising $1,903

  • 20 · Interest

    total $152,109 · program services $152,109

  • 22 · Depreciation, depletion and amortization

    total $58,275 · program services $50,267 · management and general $8,008

  • 23 · Insurance

    total $43,135 · management and general $43,135

  • 24a · Other expenses: GRANT-REIMBURSED EXPENS

    total $367,382 · program services $367,382

  • 24b · Other expenses: OTHER ADMIN EXPENSE

    total $162,919 · management and general $162,919

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,669,305 · end of year $2,585,881

  • 2 · Savings and temporary cash investments

    beginning of year $2,219,497 · end of year $1,824,643

  • 3 · Pledges and grants receivable

    beginning of year $260,865 · end of year $540,430

  • 4 · Accounts receivable

    beginning of year $1,701,433 · end of year $1,895,822

  • 7 · Other notes and loans receivable

    beginning of year $783,486 · end of year $923,719

  • 8 · Inventories for sale or use

    beginning of year $605,526 · end of year $659,613

  • 9 · Prepaid expenses and deferred charges

    beginning of year $274,098 · end of year $206,223

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

    $7,371,727

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

    $2,059,944

  • 10c · Land, buildings and equipment, net

    beginning of year $5,596,142 · end of year $5,311,783

  • 13 · Investments: program-related

    beginning of year $13,492,717 · end of year $13,387,291

  • 17 · Accounts payable and accrued expenses

    beginning of year $625,724 · end of year $535,032

  • 19 · Deferred revenue

    beginning of year $526,735 · end of year $1,405,322

  • 23 · Secured mortgages and notes payable

    beginning of year $11,199,194 · end of year $9,886,837

  • 27 · Net assets without donor restrictions

    beginning of year $13,389,781 · end of year $14,648,060

  • 28 · Net assets with donor restrictions

    beginning of year $861,635 · end of year $860,154

Mission and programs · 2023

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 $1,898,532 · Grants $356,021 · Revenue $1,165,818

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

    Expenses $128,350 · Revenue $1,015,022

As filed on the 2023 return.

Listed in Part VII

  • Merlon Jackson

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Bridget O'Keefe

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Thomas McMahon

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Arnold Pugh

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Christian Regan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Angelica Marks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Lisa Herrera

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jeanne Gieseke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Nicole Jackson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Darryl Jacobs

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Willard Payton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Daniel Watts

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Toni Thompson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Doig

    PRESIDENT

    Total calculated
    $331,072
    From this org
    $296,323
    From related orgs
    $0
    Other
    $34,749
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $296,323
    Bonus
    $0
    Other
    $0
    Deferred
    $9,160
    Nontaxable benefits
    $25,589
    Filer's total
    $331,072

  • Jennifer Bransfield

    GENERAL COUNSEL/ASST.SECRETARY

    Total calculated
    $306,147
    From this org
    $251,128
    From related orgs
    $0
    Other
    $55,019
    Hours/week
    40 + 6 related

    Schedule J breakdown matched by us

    Base
    $251,128
    Bonus
    $0
    Other
    $0
    Deferred
    $10,615
    Nontaxable benefits
    $44,404
    Filer's total
    $306,147

  • Annette Washington

    VICE PRESIDENT OF FINANCE, CNI

    Total calculated
    $194,293
    From this org
    $176,512
    From related orgs
    $0
    Other
    $17,781
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $176,512
    Bonus
    $0
    Other
    $0
    Deferred
    $7,215
    Nontaxable benefits
    $10,566
    Filer's total
    $194,293

  • Kimberly Morris

    DIRECTOR OF REAL ESTATE AND COMMUNITY DEVELOPMENT

    Total calculated
    $127,471
    From this org
    $113,887
    From related orgs
    $0
    Other
    $13,584
    Hours/week
    40 + 1 related

  • Terrence Johnson

    EXECUTIVE DIRECTOR, GAC - BEG. JAN 2024

    Total calculated
    $0
    Hours/week
    2 + 38 related

  • Erica McPherson

    FORMER EXECUTIVE DIRECTOR, GAC

    Total calculated
    $221,218
    From this org
    $212,157
    From related orgs
    $0
    Other
    $9,061
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $97,239
    Bonus
    $0
    Other
    $114,918
    Deferred
    $0
    Nontaxable benefits
    $9,061
    Filer's total
    $221,218

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

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4A
FORMER EXECUTIVE DIRECTOR OF GREENWOOD ARCHER CAPITAL, INC., ERICA MCPHERSON, RECEIVED SEVERANCE OF $114,918. THE SEVERANCE PAYMENT WAS PAID IN EQUAL INCREMENTS OVER A 12 MONTH PERIOD.

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.

  • PULLMAN PARK DEVELOPMENT 2 LLC

    TO ACQUIRE, IMPROVE, DEVELOP, LEASE & OPERATE RETAIL ACTIVITY · IL · income -$153,031 · assets $4,058,504

    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 $110,280

  • CNI RETAIL LEVERAGE FUND LLC

    RELATED · LEVERAGE LENDING ACTIVITIES · IL · 95% owned · share of income $31,309 · share of assets $2,946,201

    Directly controlled by CHICAGO NEIGHBORHOOD INITIATIVES INC

  • GRIT CHICAGO LLC

    RELATED · REAL ESTATE DEVELOPMENT · IL · 13.5% owned · share of assets $2,226,715

  • CNI SUBSIDIARY CDE 3 LLC

    RELATED · REAL ESTATE DEVELOPMENT · IL · 0.01% owned · share of income $42,583

  • CNI SUBSIDIARY CDE 4 LLC

    RELATED · REAL ESTATE DEVELOPMENT · IL · 0.01% owned · share of income $2

  • 103RD AND WOODLAWN LLC

    RELATED · REAL ESTATE DEVELOPMENT · IL · 51% owned · share of assets $1,882,293

  • RECLAIMING NORTH LAWNDALE LLC

    RELATED · REAL ESTATE DEVELOPMENT · IL · 51% owned · share of income $82,298 · share of assets $3,999,796

  • PULLMAN GATEWAY LLC

    RELATED · REAL ESTATE DEVELOPMENT · IL · 51% owned · share of income -$9,458 · share of assets $3,340,243

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 -$5,930 · share of assets $43,876

    Directly controlled by CHICAGO NEIGHBORHOOD INITIATIVES INC

  • PULLMAN ARTSPACE LLC

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

Provenance

Return type
form_990
Tax year
2023
Filed
19 April 2025
IRS schema version
2023v6.0
Source object
202511119349301176

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