Woodlawn Community Development FY2023 filing

Naperville, ILUnknown exempt organization EIN 36-2747743Revenue −$429K in FY2023Latest return filed May 12, 2025

On file with the IRSNaperville, IL

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Prior to the filing of the Chapter 7 bankruptcy, the organization's mission was to provide low and moderate income housing for qualified residents in the Chicago area.

Form 990 Part I, line 1, FY2023. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 36-2747743) · Dispute this line
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
The latest return is for FY2024, 2 tax years back.
IRS e-file · Filing history
Surplus or deficit
1 of 3
filings with a surplus
Average deficit $1.5M a year · 133% of revenue · last 3 filings
A surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
100%
of spending
100% of spending went to programs.
Pt IX · Ln 25 · col B
8.1 mo
of spending, in cash
8.1 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $23K
1 funder names it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Liabilities are 0% of assets.
Pt X · Ln 26
Independent board members
0
of 8 voting members
None of 8 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
−$429K
-111% vs prior year
Spent
$4.6M
To programs
100%
Net assets
$14.0M
By yearFY2021–FY2024
Revenue
−$429K
FY2023▼ -111%
Tap a bar for its year
Revenue by fiscal year
FY2021−$96K
FY2022$3.9M
FY2023−$429K
FY2024$72K
Expenses
$4.6M
FY2023▲ +231%
Tap a bar for its year
Expenses by fiscal year
FY2021$1.8M
FY2022$1.4M
FY2023$4.6M
FY2024Not on file
Net assets
$14.0M
FY2023▼ -27%
Tap a bar for its year
Net assets by fiscal year
FY2021$16.9M
FY2022$19.0M
FY2023$14.0M
FY2024Not on file

From the FY2023 Form 990 (year ending June 2023) · see the original

You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Exemption reinstated (2019-11-15). Per the IRS revocation list. Latest filing on record: FY2024.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $4.6M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

1 person listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
See Woodlawn Community Development executive salaries →

Questions the 990 asks

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

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provided affordable housing for low-income Chicago residents before bankruptcy.

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1 program · $4.6M · in their own filed words · FY2022
01

Prior to the filing of the Chaptr 7 bankruptcy the organization provided hundreds of units of housing to Chicago area residents .

Form 990 Part III, line 4, FY2022. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 36-2747743) · Dispute this line
$4.6Mprogram 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$23K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
−$429K
Ln 12
Money outPt IX
$4.6M
Ln 25
Programscol B$4.6M
Owns and owesPt X
$14.0M
net assets · Ln 32
Cash and savingsLn 1–2$3.1M
Total assetsLn 16$14.0M
LiabilitiesLn 26$0
PeoplePt VI, VII
1
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gains on assetsLn 7−$845K
Total revenueLn 12−$429K
Assets in detailPt X, end of year
CashLn 1$3.1M
Cash and savings togetherLn 1–2$3.1M
Accounts receivableLn 4$10.8M
Total assetsLn 16$14.0M
LiabilitiesLn 26$0
Net assetsLn 32$14.0M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJune
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 FY23End FY23
Cash and savingsLn 1–2$8.4M$3.1M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$1K$0
Total assetsLn 16$23.1M$14.0M
LiabilitiesLn 26$4.1M$0
Net assetsLn 32$19.0M$14.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of officers and key staff (Part IX, line 5)Ln 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$34K$34K
Legal feesLn 11b$485K$485K
Accounting feesLn 11c$37K$37K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$3.4M$3.4M
Advertising and promotionLn 12$0
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$693K$693K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$0
All other expensesLn 24e$0
Total functional expensesLn 25$4.6M$4.6M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS May 12, 2025 $72K 990 PDF
FY2023 ViewingFiled with the IRS Nov 16, 2023 −$429K$4.6M−$5.0M$14.0M 990 PDF
FY2022Filed with the IRS May 12, 2023 $3.9M$1.4M$2.5M$19.0M 990 PDF
FY2021Filed with the IRS Jul 17, 2022 −$96K$1.8M−$1.9M$16.9M 990 PDF

Schedules filed Part IV

I · Grants O · Explanations
See the full FY2023 990
Part I · Summary −$429,193 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment income−$844,903
I-11 Other revenuePrior year $3,892,809$415,710
I-12 Total revenuePrior year $3,892,809−$429,193
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,394,169$4,618,495
I-18 Total expensesPrior year $1,394,169$4,618,495
I-19 Revenue less expensesPrior year $2,498,640−$5,047,688
Part VI · Governance 0 of 8 board members independent, 1 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members0
VI-2 Family or business relationship among officers or directorsYes
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 −$429,193 across 8 lines filed
Lines not itemized here account for $2,576 of total revenue; see the IRS return.
VIII-1h Total contributions, gifts and grants$0
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsRelated to mission −$844,903−$844,903
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $413,134$413,134
VIII-12 Total revenueRelated to mission −$429,193−$429,193
Part IX · Statement of functional expenses $4,618,495 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of officers and key staff (Part IX, line 5)$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management feesPrograms $33,518$33,518
IX-11b Legal feesPrograms $484,820$484,820
IX-11c Accounting feesPrograms $36,527$36,527
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $3,370,912$3,370,912
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestPrograms $692,718$692,718
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$0
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $4,618,495 · Management $0 · Fundraising $0$4,618,495
Part X · Balance sheet $13,961,230 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $8,372,436$3,116,097
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $12,845,133$10,845,133
X-5 Loans to officers and key people$0
X-6 Loans to other insiders$0
X-7 Notes and loans receivableStart of year $1,862,115$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $1,360$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $27,100$0
X-16 Total assetsStart of year $23,108,144$13,961,230
X-26 Total liabilitiesStart of year $4,099,226$0
X-27 Net assets without donor restrictionsStart of year $19,008,918$13,961,230
X-32 Total net assets or fund balancesStart of year $19,008,918$13,961,230
X-33 Total liabilities and net assetsStart of year $23,108,144$13,961,230
Part XI · Reconciliation of net assets $13,961,230 net assets at year end
XI-1 Total revenue−$429,193
XI-2 Total expenses$4,618,495
XI-3 Revenue less expenses−$5,047,688
XI-4 Net assets at start of year$19,008,918
XI-10 Net assets at end of year$13,961,230

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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