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← GREATER SOUTHWEST DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by GREATER SOUTHWEST DEVELOPMENT CORPORATION.

Totals

Total revenue
$2,845,355
Total expenses
$2,497,146
Contributions and grants received
$1,535,586
Grants paid
$263,967
Program service revenue
$95,822
Investment income
$211,506
Other revenue
$1,002,441
Total assets, end of year
$18,971,058
Total liabilities, end of year
$4,655,430
Net assets or fund balances, end of year
$14,315,628
Program services expenses (Part IX)
$958,299
Management and general expenses
$1,522,069
Fundraising expenses
$16,778
Program service expenses (Part III)
$958,299

Program services were 38.4% 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)

    $938,977

  • 1f · All other contributions, gifts and grants

    $596,609

  • 2a · Program service revenue: PROPERTY MANAGEMENT FEES

    total $60,822 · related or exempt $60,822

  • 2b · Program service revenue: PARTNERSHIP MANAGEMENT FEE

    total $35,000 · related or exempt $35,000

  • 3 · Investment income

    total $211,506

  • 6a · Gross rents

    real property $370,926

  • 6c · Rental income or loss

    real property $370,926

  • 6d · Net rental income or loss

    total $370,926 · excluded $370,926

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $9,276 · related or exempt $9,276

  • 11b · Other revenue: EMPLOYEE RETENTION CREDIT

    total $347,239 · related or exempt $347,239

  • 11c · Other revenue: DEVELOPER FEE

    total $275,000 · related or exempt $275,000

  • 11e · Other revenue, total

    $631,515

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $263,967 · program services $263,967

  • 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 $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,371,657 · program services $562,138 · management and general $809,519

  • 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

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $302,157 · program services $29,901 · management and general $272,256

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $71,894 · program services $2,111 · management and general $69,783

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $246,352 · program services $69,599 · management and general $176,753

  • 17 · Travel

    total $39,277 · program services $2,759 · management and general $19,740 · fundraising $16,778

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $9,399 · management and general $9,399

  • 23 · Insurance

    total $32,631 · management and general $32,631

  • 24a · Other expenses: REAL ESTATE TAXES

    total $26,077 · program services $6,791 · management and general $19,286

  • 24b · Other expenses: PROJECT DEVELOPMENT

    total $71,444 · management and general $71,444

  • 24c · Other expenses: REPAIRS MAINTENANCE

    total $47,817 · program services $14,400 · management and general $33,417

  • 24e · All other expenses

    total $14,474 · program services $6,633 · management and general $7,841

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,318,085 · end of year $566,444

  • 3 · Pledges and grants receivable

    beginning of year $880,840 · end of year $777,908

  • 4 · Accounts receivable

    beginning of year $163,397 · end of year $163,397

  • 7 · Other notes and loans receivable

    beginning of year $988,558 · end of year $2,146,603

  • 9 · Prepaid expenses and deferred charges

    beginning of year $40,037 · end of year $32,336

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

    $599,310

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

    $444,207

  • 10c · Land, buildings and equipment, net

    beginning of year $164,501 · end of year $155,103

  • 15 · Other assets

    beginning of year $10,496,044 · end of year $15,129,267

  • 17 · Accounts payable and accrued expenses

    beginning of year $560,297 · end of year $116,713

  • 23 · Secured mortgages and notes payable

    beginning of year $457,500 · end of year $357,500

  • 25 · Other liabilities

    beginning of year $4,345,914 · end of year $4,181,217

  • 27 · Net assets without donor restrictions

    beginning of year $8,687,751 · end of year $14,315,628

Mission and programs · 2023

Mission

THE GREATER SOUTHWEST DEVELOPMENT CORPORATION IS THE CATALYST FOR CREATING AND MAINTAINING A VITAL GREATER SOUTHWEST CHICAGO COMMUNITY. EMPOWERING, BUILDING, AND SUSTAINING DEVELOPMENT RAISES THE QUALITY OF LIFE FOR OUR NEIGHBORHOOD RESIDENTS, BUSINESSES AND INDUSTRIES.

Activities or mission (Part I)

THE GREATER SOUTHWEST DEVELOPMENT CORPORATION IS THE CATALYST FOR CREATING AND MAINTAINING A VITAL GREATER SOUTHWEST CHICAGO COMMUNITY.

  • PROPERTY MANAGEMENT - MANGAGE AND OPERATE SENIOR HOUSING PROPERTIES AND COMMERCIAL RETAIL SPACE

    Expenses $676,633

  • REACH CENTER - AS A DIVISION OF GREATER SOUTHWEST DEVELOPMENT CORPORATION, THE REACH CENTER OFFERES A WIDE RANGE OF FINCANCIAL, HOUSING AND JOB ASSISTANCE SERVICES TO COMMUNITY RESIDENTS. THE REACH CENTER OFFERS HOUSING COUNSELING SERVICES FINANCIAL COACHING SERVICES EMPLOYMENT SERVICES INCOME SUPPORTS SCREENING AND COMPUTER TRAINING.

    Expenses $281,666

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Adrian Soto

    EXECUTIVE DIRECTOR

    Total calculated
    $164,371
    From this org
    $164,371
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

  • Manuel Jimenez

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Jeff Bartow

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Mark Divalerio

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Nyla Diab

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Gabriella Barrientos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Rick Guitierrez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Bryan Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ruff Mara

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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.

Grants 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.

  • CHURCHVIEW SUPPORTIVE MANAGEMENT LLC

    REAL ESTATE MANAGEMENT · IL · assets $105,910

    Directly controlled by GREATER SOUTHWEST DEVELOPMENT CORPORATION

  • CHURCHVIEW SUPPORTIVE LIVING PRESERVATION LP

    REAL ESTATE GENERAL PARTNER · IL · assets $1,415,560

    Directly controlled by GREATER SOUTHWEST DEVELOPMENT CORPORATION

Related partnerships

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

  • LAWN TERRACE PRESERVATION LP

    RENTAL REAL ESTATE · IL · 0.01% owned · share of income -$64 · general or managing partner

    Directly controlled by LAWN TERRACE PRESERVATION NFP

  • CHURCHVIEW SUPPORTIVE LIVING LP

    RENTAL REAL ESTATE · IL · 0.01% owned · share of income -$9 · general or managing partner

    Directly controlled by CHURCHVIEW SUPPORTIVE LIVING INC

  • CHURCHVIEW MANOR PRESERVATION LP

    RENTAL REAL ESTATE · IL · 0.01% owned · share of income -$29 · general or managing partner

    Directly controlled by CHURCHVIEW MANOR PRESERVATION NFP

  • CHURCHVIEW SUPPORTIVE LIVING PRESERVATION LP

    RENTAL REAL ESTATE · IL · 0.1% owned · share of income $55 · general or managing partner

    Directly controlled by CHURCHVIEW SUPPORTIVE LIVING PRESERVATION LLC

Related corporations and trusts

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

  • LAWN TERRACE PRESERVATION NFP

    C Corp · REAL ESTATE · IL · 100% owned · share of income -$64 · share of assets $413,931

  • CHURCHVIEW MANOR PRESERVATION NFP

    C Corp · REAL ESTATE · IL · 100% owned · share of income -$29 · share of assets -$179

  • CHURCHVIEW SUPPORTIVE LIVING INC

    C Corp · REAL ESTATE · IL · 100% owned · share of income -$9

Provenance

Return type
form_990
Tax year
2023
Filed
24 October 2024
IRS schema version
2023v5.1
Source object
202442989349300119

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