Totals
- Total revenue
- $5,074,175
- Total expenses
- $3,596,934
- Contributions and grants received
- $4,550,426
- Grants paid
- $0
- Program service revenue
- $478,092
- Investment income
- $33,344
- Other revenue
- $12,313
- Total assets, end of year
- $12,975,338
- Total liabilities, end of year
- $7,350,871
- Net assets or fund balances, end of year
- $5,624,467
- Program services expenses (Part IX)
- $1,992,018
- Management and general expenses
- $1,590,306
- Fundraising expenses
- $14,610
- Program service expenses (Part III)
- $1,992,018
Program services were 55.4% 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)
$3,283,957
-
1f · All other contributions, gifts and grants
$1,266,469
-
2a · Program service revenue: RENTAL & PROGRAM INCOME
total $478,092 · related or exempt $478,092
-
3 · Investment income
total $33,344 · related or exempt $33,344
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: MISCELLENEOUS INCOME
total $12,313 · related or exempt $12,313
-
11e · Other revenue, total
$12,313
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $201,247 · program services $100,624 · management and general $100,623
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $1,272,459 · program services $653,869 · management and general $618,590
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $991,818 · program services $617,864 · management and general $373,954
-
12 · Advertising and promotion
total $196,664 · program services $118,142 · management and general $78,522
-
13 · Office expenses
total $93,556 · program services $20,621 · management and general $72,935
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $13,716 · program services $5,496 · management and general $8,220
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $86,073 · program services $86,073
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $86,579 · program services $71,011 · management and general $15,568
-
23 · Insurance
total $28,046 · program services $16,205 · management and general $11,841
-
24a · Other expenses: REPAIRS,RENOVATIONS & MAINT
total $186,603 · program services $103,558 · management and general $83,045
-
24b · Other expenses: PROPERTY TAXES
total $152,491 · program services $51,778 · management and general $100,713
-
24c · Other expenses: NET BENEFIT FOR I/T
total $95,678 · program services $95,678
-
24d · Other expenses: OTHER EXPENSES
total $62,098 · program services $2,330 · management and general $59,768
-
24e · All other expenses
total $129,906 · program services $48,769 · management and general $66,527 · fundraising $14,610
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,189,413 · end of year $5,419,764
-
2 · Savings and temporary cash investments
end of year $0
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $425,570 · end of year $656,849
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
beginning of year $2,390 · end of year $2,390
-
8 · Inventories for sale or use
beginning of year $75,263 · end of year $75,263
-
9 · Prepaid expenses and deferred charges
beginning of year $3,495 · end of year $124,075
-
10a · Land, buildings and equipment: cost or other basis
$6,566,304
-
10b · Land, buildings and equipment: accumulated depreciation
$188,494
-
10c · Land, buildings and equipment, net
beginning of year $5,136,302 · end of year $6,377,810
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $416,358 · end of year $319,187
-
17 · Accounts payable and accrued expenses
beginning of year $865,213 · end of year $1,120,192
-
19 · Deferred revenue
beginning of year $2,902,366 · end of year $4,920,565
-
23 · Secured mortgages and notes payable
beginning of year $1,333,987 · end of year $1,291,603
-
25 · Other liabilities
end of year $18,511
-
27 · Net assets without donor restrictions
beginning of year $1,563,780 · end of year $545,757
-
28 · Net assets with donor restrictions
beginning of year $2,583,445 · end of year $5,078,710
Mission and programs · 2025
Mission
Through planning and collaboration with private developers, governmental entities and other stake-holders, the Far-South Community Development Corporation (Far South CDC)strives to facilitate and foster quality retail businesses that will meet the needs of the community, new industrial uses, and new rehabilitated commercial and residential real estate developments that will create jobs and improve the quality of life for all people who live and work in its service area.
-
Far South CDC's strives to facilitate and foster quality retail businesses that will meet the needs of the community; through planning and collaboration with private developers, governmental entities and other stake-holders, new industrial uses, and new rehabilitated commercial and residential real estate developments that will create jobs and improve the quality of life for all people who live and work in its service area.In 2022, Far South CDC started to move from business development and housing programs to redevelopment of land and abandoned properties to create affordable housing and access to affordable retail spaces for developing enterprises. The Halsted Street Mall footprint at the corner of 115th Street and Halsted has been in planning and demo for the last three (3) years with Far South CDC developing the land to include affordable housing and retail space.
Expenses $1,992,018 · Revenue $5,074,175
As filed on the 2025 return.
Listed in Part VII
-
Abraham LacyABRAHAM LACY
PRESIDENT/E.D.
- Total calculated
- $201,247
- From this org
- $201,247
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $201,247
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $201,247
-
Nikiesha EmeryNIKIESHA EMERY
COO
- Total calculated
- $158,208
- From this org
- $158,208
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $158,208
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $158,208
-
Chester Bell JrCHESTER BELL JR
Director
- Total calculated
- $0
- Hours/week
- 2
-
Rev Leonardo GilbertREV LEONARDO GILBERT
Director
- Total calculated
- $0
- Hours/week
- 2
-
Melvin ThompsonMELVIN THOMPSON
Director
- Total calculated
- $0
- Hours/week
- 2
-
Maggie CataniaMAGGIE CATANIA
Director
- Total calculated
- $0
- Hours/week
- 2
-
Kareem MusawwirKAREEM MUSAWWIR
Director
- Total calculated
- $0
- Hours/week
- 2
-
Yolanda Richards-AlbertYOLANDA RICHARDS-ALBERT
Chairman
- Total calculated
- $0
- Hours/week
- 10
-
Dennis O'MalleyDENNIS O'MALLEY
Treasurer
- Total calculated
- $0
- Hours/week
- 5
-
John ChenierJOHN CHENIER
Secretary
- Total calculated
- $0
- Hours/week
- 5
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.
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.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
MORGAN PARK COMMONS
C · REAL ESTATE MANAGEMENT · IL · 100% owned · share of income $7
Directly controlled by FAR SOUTH CDC
-
MAPLE PARK HOUSING REDEVELOPMENT LLC
C · REAL ESTATE DEVELOPMENT · IL · 100% owned · share of assets $2
Directly controlled by FAR SOUTH CDC
Provenance
- Return type
- form_990
- Tax year
- 2025
- Filed
- 14 September 2026
- IRS schema version
- 2025v4.1
- Source object
- 202622579349301642
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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