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Nonprofiteer
← XCHANGE CHICAGO SUPPORT CORPORATION

Form 990 for tax year 2024

Filed by XCHANGE CHICAGO SUPPORT CORPORATION.

Totals

Total revenue
$735,763
Total expenses
$36,729
Contributions and grants received
$734,688
Grants paid
$0
Program service revenue
$0
Investment income
$1,075
Other revenue
$0
Total assets, end of year
$15,023,104
Total liabilities, end of year
$14,324,070
Net assets or fund balances, end of year
$699,034
Program services expenses (Part IX)
$27,120
Management and general expenses
$9,609
Fundraising expenses
$0
Program service expenses (Part III)
$27,120

Program services were 73.8% 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.

  • 1d · Related organizations

    $734,688

  • 3 · Investment income

    total $1,075 · excluded $1,075

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $9,389 · management and general $9,389

  • 11b · Fees: legal

    total $188 · management and general $188

  • 13 · Office expenses

    total $32 · management and general $32

  • 20 · Interest

    total $27,120 · program services $27,120

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    end of year $3,488,795

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

    $11,162,751

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $11,162,751

  • 15 · Other assets

    beginning of year $0 · end of year $371,558

  • 17 · Accounts payable and accrued expenses

    end of year $1,652,210

  • 23 · Secured mortgages and notes payable

    end of year $12,660,000

  • 25 · Other liabilities

    beginning of year $0 · end of year $11,860

  • 27 · Net assets without donor restrictions

    end of year $699,034

Mission and programs · 2024

Mission

THE CORPORATION IS ORGANIZED AND WILL BE OPERATED AT ALL TIMES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND/OR TO CARRY OUT THE PURPOSES OF XCHANGE CHICAGO, INC. (THE "SPONSOR"). THE SPONSOR IS ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES, INCLUDING PROVIDING ACCESS TO SKILLS TRAINING IN TECHNOLOGY, HEALTH CARE AND HOSPITALITY FOR UNDERSERVED AND UNDERINVESTED COMMUNITIES ON CHICAGO'S SOUTH SIDE.

Activities or mission (Part I)

THE CORPORATION IS ORGANIZED TO CARRY OUT THE PURPOSES OF XCHANGE CHICAGO, INC.

  • THE CORPORATION'S ONLY ACTIVITIES ARE TO (I) ACQUIRE AND HOLD TITLE TO LAND AND AN EXISTING FACILITY LOCATED AT 7247-7257 S. SOUTH CHICAGO AVENUE, CHICAGO, ILLINOIS 60619 IN CHICAGO'S WOODLAWN NEIGHBORHOOD IN AN AREA KNOWN AS GRAND CROSSING (THE "PROPERTY"), (II) RENOVATE AND IMPROVE THE PROPERTY TO SERVE AS A HUB FOR TECHNOLOGY SKILLS TRAINING AND JOB CREATION (THE "PROJECT"), (III) OBTAIN FINANCING TO DEVELOP THE PROPERTY, INCLUDING BORROWING LOW-INTEREST RATE FUNDS FROM THIRD-PARTY LENDERS, AND (IV) LEASE THE PROJECT TO ITS RELATED PARTY SPONSOR FOR OPERATION IN FURTHERANCE OF THE SPONSOR'S ABOVE DESCRIBED CHARITABLE AND EDUCATIONAL PURPOSES. THE CORPORATION'S DEVELOPMENT AND LEASE OF THE PROJECT WILL ALLOW THE SPONSOR TO EXPAND ITS ACTIVITIES, PROVIDING ACCESS TO JOB TRAINING, TECHNICAL AND COMPUTER-RELATED SKILLS, INFORMATION TECHNOLOGY AND COMPUTER ENGINEERING APPRENTICESHIP PROGRAMS, AS WELL AS EDUCATIONAL HEALTH AND SOCIAL SERVICES, RESOURCES, AND HOLISTIC SUPPORT WITH ITS COMMUNITY PARTNERS.

    Expenses $27,120

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • GREGORY MOONEY

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • MONICA CARNEY

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • CHARLES WHITAKER

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • PATRICIA REDD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • STEVEN WALLER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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

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.

  • XCHANGE CHICAGO INC

    501(C)(3) · PROVIDE ACCESS TO SKILLS TRAINING IN TECHNOLOGY, HEALTH CARE AND HOSPITALITY · IL

Provenance

Return type
form_990
Tax year
2024
Filed
11 November 2025
IRS schema version
2024v5.2
Source object
202513189349300541

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