Form 990 for tax year 2023
Filed by EMERALD SOUTH ECONOMIC DEVELOPMENT COLLABORATIVE.
Totals
- Total revenue
- $3,207,639
- Total expenses
- $2,631,828
- Contributions and grants received
- $3,184,671
- Grants paid
- $0
- Program service revenue
- $5,000
- Investment income
- $15,181
- Other revenue
- $2,787
- Total assets, end of year
- $2,986,656
- Total liabilities, end of year
- $29,093
- Net assets or fund balances, end of year
- $2,957,563
- Program services expenses (Part IX)
- $2,375,697
- Management and general expenses
- $254,081
- Fundraising expenses
- $2,050
- Program service expenses (Part III)
- $2,375,697
Program services were 90.3% 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)
$2,487,671
-
1f · All other contributions, gifts and grants
$697,000
-
2a · Program service revenue: Program Income
total $5,000
-
3 · Investment income
total $15,181 · excluded $15,181
-
11a · Other revenue: Other
total $2,787 · excluded $2,787
-
11e · Other revenue, total
$2,787
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 $219,232 · program services $203,724 · management and general $15,508
-
6 · Compensation of disqualified persons
total $249,930 · program services $232,251 · management and general $17,679
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $14,649 · management and general $14,649
-
9 · Other employee benefits
total $103,437 · program services $82,749 · management and general $20,688
-
10 · Payroll taxes
total $32,676 · program services $25,487 · management and general $7,189
-
11a · Fees: management
total $1,450 · management and general $1,450
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $33,750 · management and general $33,750
-
11d · Fees: lobbying
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $1,905,615 · program services $1,803,647 · management and general $99,918 · fundraising $2,050
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $0
-
14 · Information technology
total $4,131 · management and general $4,131
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $22,957 · program services $1,004 · management and general $21,953
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $2,640 · management and general $2,640
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $0
-
24a · Other expenses: CHARITABLE CONTRIBUTIONS AGENTS FEES
total $26,035 · program services $26,035
-
24b · Other expenses: DUES AND SUBSCRIPTIONS
total $190 · program services $190
-
24c · Other expenses: MISCELLANEOUS
total $15,136 · program services $610 · management and general $14,526
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,940,121 · end of year $2,837,281
-
4 · Accounts receivable
beginning of year $758,999 · end of year $149,375
-
17 · Accounts payable and accrued expenses
beginning of year $117,368 · end of year $29,093
-
27 · Net assets without donor restrictions
beginning of year $1,073,431 · end of year $367,392
-
28 · Net assets with donor restrictions
beginning of year $1,508,321 · end of year $2,590,171
Mission and programs · 2023
Mission
TO ENSURE THAT ACCESS AND OPPORTUNITIES ARE SHARED TO BENEFIT RESIDENTs AND BUSINESS OWNERS OF CHICAGOS SOUTHSIDE. WE AIM TO FOSTER GROWTH OF LOCAL BUSINESSES AND LEADERS, ATTRACT NEW INVESTMENT, DEVELOP OUR LOCAL LABOR WORKFORCE AND SUPPORT INCLUSIVE HOUSING
Activities or mission (Part I)
TO ENSURE THAT ACCESS AND OPPORTUNITIES ARE SHARED TO BENEFIT RESIDENTs AND BUSINESS OWNERS OF CHICAGOS SOUTHSIDE. AIM TO FOSTER GROWTH, ATTRACT NEW INVESTMENT, DEVELOP OUR LOCAL WORKFORCE AND SUPPORT INCLUSIVE HOUSING.
-
ORGANIZATION WAS HIRING STAFF, SETTING UP OFFICES AND DOING COMMUNITY ASSESSMENTS TO DETERMINE NEEDS AND VISION FOR ACCOMPLISHING THE MISSION.
Expenses $2,375,697
As filed on the 2023 return.
Listed in Part VII
-
Ghian FormanGHIAN FORMAN
PRESIDENT CEO
- Total calculated
- $219,232
- From this org
- $219,232
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $219,232
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $219,232
-
Joel HamernickJOEL HAMERNICK
EX CO-CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Michael StrautmanisMICHAEL STRAUTMANIS
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Father Richard TolliverFATHER RICHARD TOLLIVER
TREASURER AND SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Rev Torrey BarrettREV TORREY BARRETT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Marc B BrooksMARC B BROOKS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Shayne EvansSHAYNE EVANS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Liz GardnerLIZ GARDNER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Stephanie GreenSTEPHANIE GREEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jacky GrimshawJACKY GRIMSHAW
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Calvin HolmesCALVIN HOLMES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Rev Jessee Knox IIIREV JESSEE KNOX III
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Phaedra LesliePHAEDRA LESLIE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kimberly LewisKIMBERLY LEWIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Donald McGruderDONALD MCGRUDER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dawveed ScullyDAWVEED SCULLY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Susan SherSUSAN SHER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Cory L ThamesCORY L THAMES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Hubert O ThompsonHUBERT O THOMPSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Charise WilliamsCHARISE WILLIAMS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Charles YoungCHARLES YOUNG
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. 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 · Form 990 of other organizations
- 3 · Written employment contract
- 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.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 October 2024
- IRS schema version
- 2023v5.1
- Source object
- 202412899349301566
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