Bickerdike Redevelopment Corporation FY2022 filing

Tax-deductible

Chicago, IL501(c)(3)HousingEIN 23-7087890Revenue $12.2M in FY2022

On file with the IRSbickerdike.org2550 W North Ave, 60647-5216 · Chicago, ILTax-exempt since Jan 1972Publicly supported — 509(a)(2)

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To develop low income housing

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
$894K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $4.9M a year · 49% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$894K
to officers and key staff · 18% of spending
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
25 mo
of spending, in cash
Looks good: 24.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $18K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$696K
0.8% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$12.2M
+171% vs prior year
Spent
$5.1M
To programs
90%
Net assets
$91.4M
By yearFY2020–FY2024
Revenue
$12.2M
FY2022▲ +171%
Tap a bar for its year
Revenue by fiscal year
FY2020$19.8M
FY2021$4.5M
FY2022$12.2M
FY2023$9.5M
FY2024$4.1M
Expenses
$5.1M
FY2022▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.9M
FY2021$4.8M
FY2022$5.1M
FY2023$5.4M
FY2024$5.2M
Net assets
$91.4M
FY2022▲ +7%
Tap a bar for its year
Net assets by fiscal year
FY2020$83.4M
FY2021$85.4M
FY2022$91.4M
FY2023$95.9M
FY2024$94.9M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1972.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $4.6M Management & general 7% · $377K Fundraising 2% · $105K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

20 people listed on the 990; $894K paid to officers and key staff.

Part VII, Section A · reportable compensation
Chief Executive Officer
$257,900Pt VII · Sec A
Vice-President of Real Estate Development
$166,620Pt VII · Sec A
VP of Asset Management
$128,251Pt VII · Sec A
Controller
$127,151Pt VII · Sec A
VP of Administration and Operation
$109,630Pt VII · Sec A
Assistant Controller
$104,694Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Ruth Joy Aruguete’s $266K as Chief Executive Officer is at the 95th percentile of top reported officer pay among 2036 $1–10M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Ruth Joy Aruguete$265,997————
Joy Aruguete—$255,020$257,900$263,767$229,635
Amel Shinay Jones—$172,082———
Joseph R Dunne$154,046$146,094$166,620$153,281—
Shelbie J Luna———$158,365$166,162
Awilda Calderon Sosa$143,946$142,832$109,630——
Michael J Burton$143,335$142,221$128,251$114,536$114,634
Yolanda Cruz$133,454$130,934$127,151$114,982$115,071

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Develops affordable housing and provides housing-related information and services to the community.

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Provided by the organization

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3 programs · $4.4M · in their own filed words · FY2022
01

Commercial & Asset Management

The commercial & asset program is involved with providing a variety of services to the community. We have several commercial spaces which are all leased to operators who provide a wide range of needed services to local residents.

$3.0Mprogram expense
02

Housing Development

Bickerdike has developed 2,060 units of safe, quality, affordable housing in 264 buildings. We provided homes for nearly 3,500 residents and ensure that the properties remain affordable for long term.

$1.2Mprogram expense
03

Housing Related Services

To perform services for senior citizens including minor repairs and accessibility improvements to help seniors live in their homes independently as well as technical and housing related information provided to the community.

$154Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$18K

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$12.2M
Ln 12
Other incomeLn 4–11$6.9M
Fees for servicesLn 2g$2.6M
Investment incomeLn 3$2.3M
Money outPt IX
$5.1M
Ln 25
Programscol B$4.6M
Managementcol C$377K
Fundraisingcol D$105K
Owns and owesPt X
$91.4M
net assets · Ln 32
Cash and savingsLn 1–2$10.5M
Total assetsLn 16$92.1M
LiabilitiesLn 26$696K
PeoplePt VI, VII
20
listed · VII A
PaidVII A6
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$413K
Government grantsLn 1e$202K
Fees for servicesLn 2g$2.6M
Investment incomeLn 3$2.3M
Other incomeLn 4–11$6.9M
Gains on assetsLn 7$83K
Total revenueLn 12$12.2M
Assets in detailPt X, end of year
CashLn 1$6.3M
SavingsLn 2$4.2M
Cash and savings togetherLn 1–2$10.5M
InvestmentsLn 11–13$5.7M
Land, buildings, equipmentLn 10c$1.4M
Other assetsLn 15$64.3M
Total assetsLn 16$92.1M
LiabilitiesLn 26$696K
Net assetsLn 32$91.4M
OperationsPt I, VI
EmployeesI 590
VolunteersI 612
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$16.4M$10.5M
InvestmentsLn 11–13$5.0M$5.7M
Land, buildings, equipmentLn 10c$1.6M$1.4M
Total assetsLn 16$86.2M$92.1M
LiabilitiesLn 26$786K$696K
Net assetsLn 32$85.4M$91.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$894K$805K$89K
Other salaries and wagesLn 7$2.0M$1.7M$188K$83K
Other fees for servicesLn 11g$220K$193K$21K$6K
Office expensesLn 13$105K$92K$10K$2K
OccupancyLn 16$7K$6K$720
TravelLn 17$5K$4K$483$196
Conferences, conventions and meetingsLn 19$45K$39K$4K$2K
Depreciation, depletion and amortizationLn 22$210$189$21
InsuranceLn 23$111K$97K$11K$4K
Other expenses (24a–d)Ln 24$1.6M$1.6M$40K$6K
All other expensesLn 24e$116K$102K$11K$2K
Total functional expensesLn 25$5.1M$4.6M$377K$105K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $4.1M$5.2M−$1.1M$94.9M 990 PDF
FY2023 $9.5M$5.4M$4.1M$95.9M 990 PDF
FY2022 Viewing $12.2M$5.1M$7.1M$91.4M 990 PDF
FY2021 $4.5M$4.8M−$261K$85.4M 990 PDF
FY2020 $19.8M$4.9M$14.9M$83.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $12,182,359 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,318,720$413,228
I-9 Program service revenuePrior year $1,486,888$2,618,873
I-10 Investment incomePrior year $1,158,990$2,250,888
I-11 Other revenuePrior year $529,046$6,899,370
I-12 Total revenuePrior year $4,493,644$12,182,359
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,403,689$2,861,718
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,351,003$2,207,647
I-18 Total expensesPrior year $4,754,692$5,069,365
I-19 Revenue less expensesPrior year −$261,048$7,112,994
Part VI · Governance 15 of 15 board members independent, no flags
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $12,182,359 across 9 lines filed
VIII-1e Government grants$201,536
VIII-1f All other contributions, gifts and grants$211,692
VIII-1h Total contributions, gifts and grants$413,228
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,618,873$2,618,873
VIII-3 Investment incomeExcluded from tax $2,167,558$2,167,558
VIII-6 Net rental income or lossRelated to mission −$1,097−$1,097
VIII-7 Net gain or loss on sales of assetsExcluded from tax $83,330$83,330
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $6,900,467$6,900,467
VIII-12 Total revenueRelated to mission $9,518,243 · Unrelated business $0 · Excluded from tax $2,250,888$12,182,359
Part IX · Statement of functional expenses $5,069,365 across 11 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $804,821 · Management $89,425$894,246
IX-7 Other salaries and wagesPrograms $1,695,875 · Management $188,430 · Fundraising $83,167$1,967,472
IX-11g Other fees for servicesPrograms $193,364 · Management $21,485 · Fundraising $5,594$220,443
IX-13 Office expensesPrograms $92,089 · Management $10,232 · Fundraising $2,235$104,556
IX-16 OccupancyPrograms $6,480 · Management $720$7,200
IX-17 TravelPrograms $4,343 · Management $483 · Fundraising $196$5,022
IX-19 Conferences, conventions and meetingsPrograms $39,164 · Management $4,352 · Fundraising $1,813$45,329
IX-22 Depreciation, depletion and amortizationPrograms $189 · Management $21$210
IX-23 InsurancePrograms $96,554 · Management $10,728 · Fundraising $3,946$111,228
IX-24 Other expenses (24a–d)Programs $1,552,116 · Management $39,933 · Fundraising $5,556$1,597,605
IX-24e All other expensesPrograms $102,253 · Management $11,360 · Fundraising $2,441$116,054
IX-25 Total functional expensesPrograms $4,587,248 · Management $377,169 · Fundraising $104,948$5,069,365
Part X · Balance sheet $92,144,334 assets, 16 lines filed
Asset lines not itemized here account for $8,211,686; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $11,288,193$6,296,445
X-2 Savings and temporary cash investmentsStart of year $5,063,115$4,227,706
X-4 Accounts receivableStart of year $1,561,096$1,857,404
X-9 Prepaid expenses and deferred chargesStart of year $108,820$106,334
X-10c Land, buildings and equipment, netStart of year $1,557,997$1,379,480
X-12 Other securitiesStart of year $5,003,410$5,724,832
X-15 Other assetsStart of year $57,013,863$64,340,447
X-16 Total assetsStart of year $86,161,772$92,144,334
X-17 Accounts payable and accrued expensesStart of year $601,013$648,560
X-19 Deferred revenueStart of year $51,610$2,589
X-25 Other liabilitiesStart of year $133,385$44,743
X-26 Total liabilitiesStart of year $786,008$695,892
X-27 Net assets without donor restrictionsStart of year $84,116,596$90,189,274
X-28 Net assets with donor restrictionsStart of year $1,259,168$1,259,168
X-32 Total net assets or fund balancesStart of year $85,375,764$91,448,442
X-33 Total liabilities and net assetsStart of year $86,161,772$92,144,334
Part XI · Reconciliation of net assets $91,448,442 net assets at year end
XI-1 Total revenue$12,182,359
XI-2 Total expenses$5,069,365
XI-3 Revenue less expenses$7,112,994
XI-4 Net assets at start of year$85,375,764
XI-5 Net unrealized gains (losses) on investments−$970,882
XI-6 Donated services and use of facilities−$69,434
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$91,448,442

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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