Totals
- Total revenue
- $4,787,426
- Total expenses
- $4,603,953
- Contributions and grants received
- $3,767,404
- Grants paid
- $0
- Program service revenue
- $1,020,022
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $18,750,628
- Total liabilities, end of year
- $14,565,858
- Net assets or fund balances, end of year
- $4,184,770
- Program services expenses (Part IX)
- $4,008,786
- Management and general expenses
- $549,384
- Fundraising expenses
- $45,783
- Program service expenses (Part III)
- $4,008,786
Program services were 87.1% 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)
$3,767,404
-
2a · Program service revenue: AFFORDABLE HOUSING
total $855,540 · related or exempt $855,540
-
2b · Program service revenue: LOAN SERVICING
total $164,482 · related or exempt $164,482
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $1,649,687 · program services $1,435,228 · management and general $197,962 · fundraising $16,497
-
11b · Fees: legal
total $34,615 · program services $30,115 · management and general $4,154 · fundraising $346
-
13 · Office expenses
total $77,677 · program services $67,579 · management and general $9,321 · fundraising $777
-
16 · Occupancy
total $129,177 · program services $112,384 · management and general $15,501 · fundraising $1,292
-
17 · Travel
total $5,153 · program services $4,483 · management and general $618 · fundraising $52
-
23 · Insurance
total $30,575 · program services $26,600 · management and general $3,669 · fundraising $306
-
24a · Other expenses: BUILDING REPAIRS
total $2,651,325 · program services $2,306,653 · management and general $318,159 · fundraising $26,513
-
24b · Other expenses: CII PROGRAM EXPENSES
total $25,744 · program services $25,744
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,889,611 · end of year $1,469,079
-
2 · Savings and temporary cash investments
beginning of year $5,774,668 · end of year $4,840,439
-
4 · Accounts receivable
beginning of year $5,152,251 · end of year $8,963,224
-
7 · Other notes and loans receivable
beginning of year $528,500 · end of year $1,279,788
-
15 · Other assets
beginning of year $1,872,852 · end of year $2,198,098
-
17 · Accounts payable and accrued expenses
beginning of year $8,826 · end of year $585,708
-
19 · Deferred revenue
beginning of year $800,000 · end of year $800,000
-
23 · Secured mortgages and notes payable
beginning of year $10,407,764 · end of year $13,180,150
-
27 · Net assets without donor restrictions
beginning of year $4,001,292 · end of year $4,184,770
Mission and programs · 2022
Mission
PRESERVE LOWER INCOME NEIGHBORHOODS THROUGH THE PRESERVATION OF QUALITY AFFORDABLE RENTAL HOUSING.
-
TROUBLED BUILDINGS INITIATIVE (TBI): AS OF SEPTEMBER 30, 2023, CII IS THE COURT APPOINTED RECEIVER ON 29 BUILDINGS WITH 1,097 UNITS. BUILDINGS PLACED IN THE PROGRAM ARE THE PROPERTIES MOST IN NEED OF REPAIR AND PRESENT THE MOST PROBLEMS TO THEIR COMMUNITIES. THROUGH THE PROGRAM, TBI HAS TAKEN ACTION ON 1,239 BUILDINGS WITH 22,028 HOUSING UNITS, AND 883 BUILDINGS WITH 15,837 UNITS HAVE BEEN RECOVERED.
Expenses $4,008,786 · Revenue $1,020,022
As filed on the 2022 return.
Listed in Part VII
-
STACIE YOUNG
PRESIDENT
- Total calculated
- $310,896
- From this org
- $0
- From related orgs
- $286,936
- Other
- $23,960
- Hours/week
- 5 + 35 related
Schedule J breakdown matched by us
- Base
- $0 + $236,134 related
- Bonus
- $0 + $50,250 related
- Other
- $0 + $552 related
- Deferred
- $0 + $21,995 related
- Nontaxable benefits
- $0 + $1,965 related
- Filer's total
- $0 + $310,896 related
-
RONDELLA HUNT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
VICKI ARROYO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
ROBERT MARJAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
JOHN GHOLAR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
ANGIE MARKS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
FRANK PETTAWAY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
JOHN CRANE
SVP/DIRECTOR OF LENDING
- Total calculated
- $294,386
- From this org
- $0
- From related orgs
- $253,638
- Other
- $40,748
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- $0 + $199,346 related
- Bonus
- $0 + $51,244 related
- Other
- $0 + $3,048 related
- Deferred
- $0 + $19,637 related
- Nontaxable benefits
- $0 + $21,111 related
- Filer's total
- $0 + $294,386 related
-
MICHAEL CIACCIA
TREASURER/CFO
- Total calculated
- $270,396
- From this org
- $0
- From related orgs
- $225,023
- Other
- $45,373
- Hours/week
- 5 + 35 related
Schedule J breakdown matched by us
- Base
- $0 + $181,663 related
- Bonus
- $0 + $43,000 related
- Other
- $0 + $360 related
- Deferred
- $0 + $15,870 related
- Nontaxable benefits
- $0 + $29,503 related
- Filer's total
- $0 + $270,396 related
-
JONAH HESS
CII VICE PRESIDENT
- Total calculated
- $210,781
- From this org
- $0
- From related orgs
- $185,015
- Other
- $25,766
- Hours/week
- 39 + 1 related
Schedule J breakdown matched by us
- Base
- $0 + $153,542 related
- Bonus
- $0 + $31,233 related
- Other
- $0 + $240 related
- Deferred
- $0 + $14,301 related
- Nontaxable benefits
- $0 + $11,465 related
- Filer's total
- $0 + $210,781 related
-
GIUSEPPE PAPAVERO
CONTROLLER
- Total calculated
- $154,817
- From this org
- $0
- From related orgs
- $136,274
- Other
- $18,543
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- $0 + $93,349 related
- Bonus
- $0 + $42,565 related
- Other
- $0 + $360 related
- Deferred
- $0 + $10,900 related
- Nontaxable benefits
- $0 + $7,643 related
- Filer's total
- $0 + $154,817 related
-
MONICA KIRBY
ASSISTANT SECRETARY
- Total calculated
- $93,561
- From this org
- $0
- From related orgs
- $77,625
- Other
- $15,936
- Hours/week
- 1 + 39 related
-
THURMAN SMITH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
ANDRE COLLINS
ACQUISITION MANAGER
- Total calculated
- $279,938
- From this org
- $255,067
- From related orgs
- $0
- Other
- $24,871
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $98,750
- Bonus
- $156,077
- Other
- $240
- Deferred
- $13,406
- Nontaxable benefits
- $11,465
- Filer's total
- $279,938
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 committee
- 3 · Independent compensation consultant
- 3 · Form 990 of other organizations
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 6a · Pay contingent on this organization's net earnings
- 7 · Other non-fixed payments
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
- 6b · Pay contingent on a related organization's net earnings
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 3
- COMPENSATION FOR THE ORGANIZATION'S PRESIDENT AND OTHER OFFICERS IS PAID BY COMMUNITY INVESTMENT CORPORATION, A RELATED TAX EXEMPT ORGANIZATION. COMPENSATION IS DETERMINED BY A RELATED ORGANIZATION, COMMUNITY INVESTMENT CORPORATION, INC. A COMPENSATION SURVEY OR STUDY IS CONDUCTED AND COMPENSATION IS APPROVED BY THE BOARD.
- PART I, LINE 6
- ANDRE COLLINS, ACQUISITION MANAGER, IS PAID A COMMISSION COMPUTED AS A PERCENTAGE OF THE NET REVENUE GENERATED FROM THE ACQUISITION AND LINE OF CREDIT PROGRAM THROUGH COMMUNITY INITIATIVES, INC. ANDRE COLLINS DOES NOT RECEIVE A BASE SALARY.
- PART I, LINE 7
- AS INDICATED IN SCHEDULE J, PART II, EMPLOYEES OF THE ORGANIZATION, INCLUDING HIGHEST COMPENSATED INDIVIDUALS, RECEIVED A BONUS BASED ON PERFORMANCE AND THE FINANCIAL RESULTS OF THE ORGANIZATION. THIS BONUS WAS APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF COMMUNITY INVESTMENT CORPORATION, A RELATED TAX EXEMPT ORGANIZATION.
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.
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.
-
COMMUNITY INVESTMENT CORPORATION
501(C)(3) · FINANCING PURCHASE/REHAB OF LOW INCOME MULTIFAMILY BUILDINGS · IL
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 30 July 2024
- IRS schema version
- 2022v5.0
- Source object
- 202402189349300030
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