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Nonprofiteer
← CHICAGO COMMUNITY LOAN FUND

Form 990 for tax year 2022

Filed by CHICAGO COMMUNITY LOAN FUND.

Totals

Total revenue
$14,555,763
Total expenses
$8,452,164
Contributions and grants received
$6,972,236
Grants paid
$0
Program service revenue
$6,209,816
Investment income
$395,755
Other revenue
$977,956
Total assets, end of year
$158,934,389
Total liabilities, end of year
$112,231,722
Net assets or fund balances, end of year
$46,702,667
Program services expenses (Part IX)
$6,378,934
Management and general expenses
$1,806,055
Fundraising expenses
$267,175
Program service expenses (Part III)
$6,378,934

Program services were 75.5% 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)

    $705,000

  • 1f · All other contributions, gifts and grants

    $6,267,236

  • 2a · Program service revenue: NOTE RECEIVABLE INTEREST

    total $5,546,385 · related or exempt $5,546,385

  • 2b · Program service revenue: LOAN CLOSING FEES

    total $540,228 · related or exempt $540,228

  • 2c · Program service revenue: FEES FROM COMMUNITY DEVELOPMENT E

    total $94,500 · related or exempt $94,500

  • 2d · Program service revenue: SERVICES AND WORKSHOPS

    total $25,000 · related or exempt $25,000

  • 2e · Program service revenue: LATE FEES AND OTHER FEES

    total $3,703 · related or exempt $3,703

  • 3 · Investment income

    total $426,812 · excluded $426,812

  • 7a · Gross sales of assets other than inventory

    securities $2,679,884

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

    securities $2,710,941

  • 7c · Gain or loss

    securities -$31,057

  • 7d · Net gain or loss

    total -$31,057 · excluded -$31,057

  • 11a · Other revenue: RECOVERIES ON PREVIOUSLY WRITTEN

    total $977,956 · excluded $977,956

  • 11e · Other revenue, total

    $977,956

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $914,691 · program services $375,572 · management and general $472,804 · fundraising $66,315

  • 7 · Other salaries and wages

    total $2,353,680 · program services $1,626,112 · management and general $599,671 · fundraising $127,897

  • 8 · Pension plan contributions

    total $104,455 · program services $71,919 · management and general $26,876 · fundraising $5,660

  • 9 · Other employee benefits

    total $345,606 · program services $230,392 · management and general $96,578 · fundraising $18,636

  • 10 · Payroll taxes

    total $207,482 · program services $133,969 · management and general $62,505 · fundraising $11,008

  • 11b · Fees: legal

    total $310,580 · program services $299,598 · management and general $10,982

  • 11c · Fees: accounting

    total $77,944 · program services $11,500 · management and general $66,444

  • 11f · Fees: investment management

    total $126,375 · program services $126,375

  • 11g · Fees: other

    total $484,295 · program services $387,864 · management and general $96,431

  • 12 · Advertising and promotion

    total $68,244 · program services $26,089 · management and general $34,922 · fundraising $7,233

  • 13 · Office expenses

    total $111,500 · program services $56,184 · management and general $51,536 · fundraising $3,780

  • 14 · Information technology

    total $12,083 · management and general $12,083

  • 16 · Occupancy

    total $258,993 · program services $169,780 · management and general $80,940 · fundraising $8,273

  • 17 · Travel

    total $45,910 · program services $27,654 · management and general $13,774 · fundraising $4,482

  • 19 · Conferences, conventions and meetings

    total $20,859 · program services $14,562 · management and general $5,801 · fundraising $496

  • 20 · Interest

    total $2,108,438 · program services $2,108,438

  • 22 · Depreciation, depletion and amortization

    total $91,177 · program services $58,693 · management and general $29,634 · fundraising $2,850

  • 23 · Insurance

    total $72,684 · program services $42,274 · management and general $24,118 · fundraising $6,292

  • 24a · Other expenses: PASS THROUGH EXPENSE

    total $500,000 · program services $500,000

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $147,417 · program services $96,504 · management and general $49,318 · fundraising $1,595

  • 24c · Other expenses: SPECIAL EVENTS

    total $54,272 · management and general $54,272

  • 24d · Other expenses: STAFF DEVELOPMENT

    total $35,479 · program services $15,455 · management and general $17,366 · fundraising $2,658

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,724 · end of year $829

  • 2 · Savings and temporary cash investments

    beginning of year $36,677,080 · end of year $39,040,465

  • 3 · Pledges and grants receivable

    beginning of year $95,558 · end of year $139,600

  • 4 · Accounts receivable

    beginning of year $48,922 · end of year $33,366

  • 7 · Other notes and loans receivable

    beginning of year $84,834,422 · end of year $103,669,367

  • 9 · Prepaid expenses and deferred charges

    beginning of year $71,855 · end of year $107,508

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

    $1,147,120

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

    $821,756

  • 10c · Land, buildings and equipment, net

    beginning of year $320,552 · end of year $325,364

  • 11 · Investments: publicly traded securities

    beginning of year $13,889,840 · end of year $13,643,078

  • 13 · Investments: program-related

    beginning of year $57,538 · end of year $57,527

  • 15 · Other assets

    beginning of year $731,067 · end of year $1,917,285

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,265,425 · end of year $2,321,192

  • 19 · Deferred revenue

    beginning of year $18,648 · end of year $18,648

  • 21 · Escrow or custodial account liability

    beginning of year $289,455 · end of year $289,455

  • 22 · Loans and payables to officers and key people

    beginning of year $9,000 · end of year $9,000

  • 24 · Unsecured notes and loans payable

    beginning of year $92,291,285 · end of year $108,175,445

  • 25 · Other liabilities

    beginning of year $0 · end of year $1,417,982

  • 27 · Net assets without donor restrictions

    beginning of year $34,001,219 · end of year $38,281,858

  • 28 · Net assets with donor restrictions

    beginning of year $7,853,526 · end of year $8,420,809

Mission and programs · 2022

Mission

ORGANIZATION PROVIDES LOW-COST, FLEXIBLE FINANCING TO NON-PROFIT AND FOR-PROFIT COMMUNITY DEVELOPMENT ORGANIZATIONS FOR THE REVITALIZATION OF LOW AND MODERATE INCOME NEIGHBORHOODS THROUGHOUT METROPOLITAN CHICAGO.

Activities or mission (Part I)

PROVIDE LOW-COST COMMUNITY DEVELOPMENT PROJECT LOANS

  • LENDING - CCLF OPERATES AS A REVOLVING LOAN FUND, PROVIDING FINANCING THROUGH ITS LOAN POOL OF LENDING CAPITAL FOR AFFORDABLE HOUSING, NONPROFIT FACILITY AND OFFICE SPACE, COMMERCIAL AND RETAIL DEVELOPMENT AND OTHER ACTIVITIES. THESE PROJECTS PROMISE HIGH SOCIAL IMPACT THROUGH THE PRODUCTION AND PRESERVATION OF AFFORDABLE HOUSING, JOB CREATION AND OTHER SERVICES FOR LOW AND MODERATE INCOME INDIVIDUALS, FAMILIES AND COMMUNITIES.

    Expenses $5,301,516 · Revenue $6,206,113

  • TECHNICAL ASSISTANCE - CCLF'S GATEWAY TO COMMUNITY DEVELOPMENT PROGRAM PROVIDES TECHNICAL ASSISTANCE TO BORROWERS AND NON-BORROWERS THROUGH TIME SENSITIVE REAL ESTATE DEVELOPMENT ADVICE AND REFERRALS, A RANGE OF WORKSHOP TOPICS, FACILITATED PLANNING PROCESSES AND SUPPORT FOR SUSTAINABLE BUILDING PRACTICES.

    Expenses $538,942 · Revenue $3,703

  • ECONOMIC DEVELOPMENT - CCLF IS HISTORICALLY A NICHE LENDER: ONE THAT MEETS THE FINANCING AND TECHNICAL ASSISTANCE NEEDS THAT ARE UNMET IN THE LOW TO MODERATE INCOME COMMUNITIES. THE 2012 - 2016 STRATEGIC PLAN HAS DIRECTED A COURSE OF COLLABORATIVE RELATIONSHIPS, EXPLORATION OF AVAILABLE PROGRAMS NEW TO CCLF AND THE CO-CREATION OF PROGRAMS TO BUILD AND/OR REHABILITATE COMMERCIAL REAL ESTATE. THIS PROGRAM IS DESIGNED TO RESEARCH AND FINANCE SUCH OPPORTUNITIES.

    Expenses $538,476

As filed on the 2022 return.

Listed in Part VII

  • Jody Adler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.37

  • Jeff Allen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.04

  • Patricia McCreary Cannon

    DIRECTOR, ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    0.72

  • Mohammed Elahi

    SECRETARY, DIRECTOR

    Total calculated
    $0
    Hours/week
    0.66

  • Dr Amara Enyia

    DIRECTOR, P& I CHAIR

    Total calculated
    $0
    Hours/week
    0.27

  • Thomas Fitzgibbon Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.49

  • Kevin Goldsmith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.27

  • Stephanie Green

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.65

  • Jennifer Guzman

    DIRECTOR, HR CHAIR

    Total calculated
    $0
    Hours/week
    0.27

  • Richard Guzman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.27

  • Erik Hall

    VICE CHAIR, DIRECTOR

    Total calculated
    $0
    Hours/week
    0.59

  • Ailisa Herrera

    ASSISTANT SECRETARY, DIRECTOR

    Total calculated
    $0
    Hours/week
    0.75

  • Edward Hoynes CPA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.45

  • Andrew Hugger

    DIRECTOR, SPECIAL ASSETS CHAIR

    Total calculated
    $0
    Hours/week
    0.73

  • Angela Hurlock

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.27

  • Sonya Malunda

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.27

  • Eric Phillips

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.31

  • Matthew Reilein

    CHAIR, DIRECTOR

    Total calculated
    $0
    Hours/week
    0.43

  • Mark Spears

    DIRECTOR, LOAN CHAIR

    Total calculated
    $0
    Hours/week
    0.65

  • Kathy Tholin

    DIRECTOR, GOVERNANCE CHAIR

    Total calculated
    $0
    Hours/week
    0.37

  • John Tuohy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.37

  • Charles Walls

    TREASURER, DIRECTOR

    Total calculated
    $0
    Hours/week
    0.55

  • Calvin Holmes

    PRESIDENT

    Total calculated
    $388,877
    From this org
    $359,687
    From related orgs
    $0
    Other
    $29,190
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $318,889
    Bonus
    $40,798
    Other
    $0
    Deferred
    $15,938
    Nontaxable benefits
    $13,252
    Filer's total
    $388,877

  • Robert Tucker

    COO, EVP OF PROGRAMS

    Total calculated
    $275,154
    From this org
    $245,540
    From related orgs
    $0
    Other
    $29,614
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $214,353
    Bonus
    $31,187
    Other
    $0
    Deferred
    $12,183
    Nontaxable benefits
    $17,431
    Filer's total
    $275,154

  • Angela Dowell

    CHIEF FINANCIAL OFFICER

    Total calculated
    $250,660
    From this org
    $226,970
    From related orgs
    $0
    Other
    $23,690
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $197,042
    Bonus
    $29,928
    Other
    $0
    Deferred
    $10,914
    Nontaxable benefits
    $12,776
    Filer's total
    $250,660

  • Maurice Williams

    VP ECON. DEVELOPMENT

    Total calculated
    $203,780
    From this org
    $184,673
    From related orgs
    $0
    Other
    $19,107
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $163,843
    Bonus
    $20,830
    Other
    $0
    Deferred
    $9,512
    Nontaxable benefits
    $9,595
    Filer's total
    $203,780

  • Lycrecia Parks

    VP PORTFOLIO MGMT.

    Total calculated
    $205,918
    From this org
    $185,324
    From related orgs
    $0
    Other
    $20,594
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $161,403
    Bonus
    $23,921
    Other
    $0
    Deferred
    $8,542
    Nontaxable benefits
    $12,052
    Filer's total
    $205,918

  • Wendell Harris

    VP LENDING OPERATIONS

    Total calculated
    $200,966
    From this org
    $180,632
    From related orgs
    $0
    Other
    $20,334
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $158,656
    Bonus
    $21,976
    Other
    $0
    Deferred
    $8,282
    Nontaxable benefits
    $12,052
    Filer's total
    $200,966

  • Juan Calixto

    VP EXT. RELATIONS

    Total calculated
    $199,703
    From this org
    $172,220
    From related orgs
    $0
    Other
    $27,483
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,126
    Bonus
    $22,094
    Other
    $0
    Deferred
    $8,597
    Nontaxable benefits
    $18,886
    Filer's total
    $199,703

  • Robin Schabes

    OPPORTUNITY ZONES CONSORTI

    Total calculated
    $190,611
    From this org
    $171,461
    From related orgs
    $0
    Other
    $19,150
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,050
    Bonus
    $21,411
    Other
    $0
    Deferred
    $7,098
    Nontaxable benefits
    $12,052
    Filer's total
    $190,611

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

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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.

Disregarded entities

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

  • CCLF NMTC NFP

    FACILITATE DISTRIBUTIONS TO QUALIFIED EXEMPT ORGANIZATIONS · IL

    Directly controlled by CHICAGO COMMUNITY LOAN FUND

Related partnerships

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

  • CCLF SUB-CDE 1 LLC

    RELATED · COMMUNITY DEVELOPMENT PROJECT LOANS · IL · 0.01% owned · share of income $3 · share of assets $484 · general or managing partner

    Directly controlled by CHICAGO COMMUNITY LOAN FUND

  • CCLF SUB-CDE 2 LLC

    RELATED · COMMUNITY DEVELOPMENT PROJECT LOANS · IL · 0.01% owned · share of income $1 · share of assets $487 · general or managing partner

    Directly controlled by CHICAGO COMMUNITY LOAN FUND

  • CCLF SUB-CDE 5 LLC

    RELATED · COMMUNITY DEVELOPMENT PROJECT LOANS · IL · 0.01% owned · share of assets $454 · general or managing partner

    Directly controlled by CHICAGO COMMUNITY LOAN FUND

Related corporations and trusts

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

  • CCLF SUB-CDE 3 LLC

    C · COMMUNITY DEVELOPMENT PROJECT LOANS · IL · 0.01% owned · share of income $2 · share of assets $502

    Directly controlled by CHICAGO COMMUNITY LOAN FUND

Provenance

Return type
form_990
Tax year
2022
Filed
2 October 2023
IRS schema version
2022v5.0
Source object
202333009349301868

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