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Nonprofiteer
← CHICAGO NEIGHBORHOOD INITIATIVES INC

Form 990 for tax year 2024

Filed by CHICAGO NEIGHBORHOOD INITIATIVES INC.

Totals

Total revenue
$7,263,730
Total expenses
$7,857,297
Contributions and grants received
$1,338,019
Grants paid
$1,378,008
Program service revenue
$1,452,396
Investment income
$90,827
Other revenue
$4,382,488
Total assets, end of year
$19,514,030
Total liabilities, end of year
$4,599,383
Net assets or fund balances, end of year
$14,914,647
Program services expenses (Part IX)
$2,906,327
Management and general expenses
$4,849,896
Fundraising expenses
$101,074
Program service expenses (Part III)
$2,906,327

Program services were 37.0% 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

    $211,250

  • 1e · Government grants (contributions)

    $756,302

  • 1f · All other contributions, gifts and grants

    $370,467

  • 2a · Program service revenue: NMTC FEE INCOME

    total $977,358 · related or exempt $977,358

  • 2b · Program service revenue: DEVELOPMENT FEES

    total $256,705 · related or exempt $256,705

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

    total $218,333 · related or exempt $218,333

  • 3 · Investment income

    total $90,827 · related or exempt $90,827

  • 6a · Gross rents

    real property $651,851

  • 6b · Less rental expenses

    real property $799,604

  • 6c · Rental income or loss

    real property -$147,753

  • 6d · Net rental income or loss

    total -$147,753 · related or exempt -$147,753

  • 8a · Fundraising events: gross income

    $0

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

    $211,250

  • 8b · Fundraising events: direct expenses

    $60,703

  • 8c · Net income from fundraising events

    total -$60,703 · excluded -$60,703

  • 11a · Other revenue: LOAN FORGIVENESS INCOME

    total $4,365,000 · related or exempt $4,365,000

  • 11b · Other revenue: OTHER INCOME

    total $153,093 · related or exempt $153,093

  • 11c · Other revenue: AFFILIATE INCOME

    total $72,851 · related or exempt $72,851

  • 11e · Other revenue, total

    $4,590,944

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,378,008 · program services $1,378,008

  • 5 · Compensation of officers, directors and key employees

    total $717,996 · program services $452,337 · management and general $215,399 · fundraising $50,260

  • 7 · Other salaries and wages

    total $353,739 · program services $222,855 · management and general $106,122 · fundraising $24,762

  • 8 · Pension plan contributions

    total $39,571 · program services $24,930 · management and general $11,871 · fundraising $2,770

  • 9 · Other employee benefits

    total $167,026 · program services $105,227 · management and general $50,107 · fundraising $11,692

  • 10 · Payroll taxes

    total $62,559 · program services $39,412 · management and general $18,768 · fundraising $4,379

  • 11b · Fees: legal

    total $17,881 · program services $17,881

  • 11c · Fees: accounting

    total $93,126 · management and general $93,126

  • 11g · Fees: other

    total $230,005 · program services $230,005

  • 12 · Advertising and promotion

    total $28,018 · program services $19,613 · management and general $8,405

  • 13 · Office expenses

    total $203,489 · program services $195,026 · management and general $6,862 · fundraising $1,601

  • 14 · Information technology

    total $29,686 · program services $18,703 · management and general $8,905 · fundraising $2,078

  • 16 · Occupancy

    total $29,000 · program services $18,270 · management and general $8,700 · fundraising $2,030

  • 17 · Travel

    total $21,456 · program services $13,518 · management and general $6,436 · fundraising $1,502

  • 20 · Interest

    total $113,607 · program services $113,607

  • 22 · Depreciation, depletion and amortization

    total $63,563 · program services $56,935 · management and general $6,628

  • 23 · Insurance

    total $51,417 · management and general $51,417

  • 24a · Other expenses: LOSS ON AFFILIATE INVES

    total $3,625,467 · management and general $3,625,467

  • 24b · Other expenses: LOSS ON IMPAIRMENT

    total $531,341 · management and general $531,341

  • 24c · Other expenses: OTHER ADMINISTRATIVE EX

    total $100,342 · management and general $100,342

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,585,881 · end of year $1,531,820

  • 2 · Savings and temporary cash investments

    beginning of year $1,824,643 · end of year $77,155

  • 3 · Pledges and grants receivable

    beginning of year $540,430 · end of year $120,000

  • 4 · Accounts receivable

    beginning of year $1,895,822 · end of year $923,600

  • 7 · Other notes and loans receivable

    beginning of year $923,719 · end of year $944,342

  • 8 · Inventories for sale or use

    beginning of year $659,613 · end of year $890,438

  • 9 · Prepaid expenses and deferred charges

    beginning of year $206,223 · end of year $228,624

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

    $7,370,400

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

    $2,340,233

  • 10c · Land, buildings and equipment, net

    beginning of year $5,311,783 · end of year $5,030,167

  • 13 · Investments: program-related

    beginning of year $13,387,291 · end of year $9,767,884

  • 17 · Accounts payable and accrued expenses

    beginning of year $535,032 · end of year $417,918

  • 19 · Deferred revenue

    beginning of year $1,405,322

  • 23 · Secured mortgages and notes payable

    beginning of year $9,886,837 · end of year $4,181,465

  • 27 · Net assets without donor restrictions

    beginning of year $14,648,060 · end of year $14,739,299

  • 28 · Net assets with donor restrictions

    beginning of year $860,154 · end of year $175,348

Mission and programs · 2024

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 $2,770,258 · Grants $1,378,008

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

    Expenses $136,069 · Revenue $977,358

As filed on the 2024 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

  • Lisa Herrera

    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

  • Angelica Marks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Williard Payton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Arnold Pugh

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Christian Regan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Toni Thompson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Daniel Watts

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Doig

    PRESIDENT

    Total calculated
    $359,018
    From this org
    $323,548
    From related orgs
    $0
    Other
    $35,470
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $323,548
    Bonus
    $0
    Other
    $0
    Deferred
    $9,518
    Nontaxable benefits
    $25,952
    Filer's total
    $359,018

  • Jennifer Bransfield

    COO AND GENERAL COUNSEL

    Total calculated
    $326,270
    From this org
    $276,126
    From related orgs
    $0
    Other
    $50,144
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $276,126
    Bonus
    $0
    Other
    $0
    Deferred
    $11,005
    Nontaxable benefits
    $39,139
    Filer's total
    $326,270

  • Annette Washington

    VICE PRESIDENT OF FINANCE

    Total calculated
    $224,592
    From this org
    $203,806
    From related orgs
    $0
    Other
    $20,786
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $203,806
    Bonus
    $0
    Other
    $0
    Deferred
    $7,723
    Nontaxable benefits
    $13,063
    Filer's total
    $224,592

  • Terrence Johnson

    EXECUTIVE DIRECTOR, GAC

    Total calculated
    $204,247
    From this org
    $178,552
    From related orgs
    $0
    Other
    $25,695
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $178,552
    Bonus
    $0
    Other
    $0
    Deferred
    $4,695
    Nontaxable benefits
    $21,000
    Filer's total
    $204,247

  • Kimberly Morris

    DIRECTOR OF REAL ESTATE AND COMMUNITY DEVELOPMENT

    Total calculated
    $131,454
    From this org
    $116,387
    From related orgs
    $0
    Other
    $15,067
    Hours/week
    40 + 2 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

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

  • CITY OF MARKHAM

    $432,934

    DCEO - REBUILD IL - PROGRAM SUBGRANTEE

  • HAREER FOODS

    $401,894

    DCEO- REBUILD IL - PROGRAM SUBGRANTEE

  • PULLMAN HOTEL GROUP

    $199,918

    PROGRAM SUBGRANTEE

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 $4,044,570 · assets $3,600,648

    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 · 100% owned · share of income -$1

  • CNI SUBSIDIARY CDE 2 LLC

    RELATED · REAL ESTATE DEVELOPMENT · IL · 100% owned · share of income $110,280

  • CNI SUBSIDIARY CDE 3 LLC

    RELATED · REAL ESTATE DEVELOPMENT · IL · 100% owned · share of income $42,583

  • CNI SUBSIDIARY CDE 4 LLC

    RELATED · REAL ESTATE DEVELOPMENT · IL · 100% owned · share of income $2

  • CNI RETAIL LEVERAGE FUND LLC

    RELATED · LEVERAGE LENDING ACTIVITIES · IL · 95% owned · share of income -$2,933,874 · share of assets $14,607

    Directly controlled by CHICAGO NEIGHBORHOOD INITIATIVES

  • 103RD AND WOODLAWN LLC

    RELATED · REAL ESTATE DEVELOPMENT · IL · 51% owned · share of income $370,829

  • PULLMAN GATEWAY

    RELATED · REAL ESTATE DEVELOPMENT · IL · 51% owned · share of income $118,124 · share of assets $3,424,373

  • GRIT CHICAGO LLC

    RELATED · REAL ESTATE DEVELOPMENT · IL · 12.11% owned · share of income $203 · share of assets $2,791,816

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 -$834 · share of assets $40,222

    Directly controlled by CHICAGO NEIGHBORHOOD INITIATIVES INC

  • PULLMAN ARTSPACE LLC

    C · DEVELOPMENT OF AFFORDABLE HOUSING FOR THE ARTS IN THE · MN · 40% owned

Provenance

Return type
form_990
Tax year
2024
Filed
6 February 2026
IRS schema version
2024v5.5
Source object
202630379349300508

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