Eighteenth Street Development Corp FY2019 filing

IRS exemption revoked

Chicago, ILUnknown exempt organizationEIN 36-2899333Revenue $437K in FY2019

On file with the IRSeighteenthstreet.org1843 S Carpenter · Chicago, IL

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Commercial support services (css)- Eighteenth Street Development corporation (esdc) assists area businesses to resolve zoning, licensing, and other issues which require interface with local or city government offices. Esdc works with a variety of public and private officials to plan the location and scope of city of chicago and cook county improvement projects to ensure that neighborhood needs are addressed. Esdc seeks to promote area businesses by publishing an annual business directory and also producing a variety of events during the year. These include mole de mayo in the month of may and buen provecho pilsen in september. Local industrial retention initiative (liri)- by working with over 200 hundred small, medium and large scale businesses in pilsen's industrial corridor, the industrial Development division of esdc assists in the growth and Development of industrial businesses to expand employment opportunities in the community. The pilsen industrial corridor (pmd 11) covers 907 a

72¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2019 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2020
latest Form 990
Concern: the latest return is for FY2020, 6 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average deficit $34K a year · 9% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$171K
126% of total assets
Concern: liabilities are 126% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$437K
Spent
$374K
To programs
72%
Net assets
−$35K
By yearFY2019–FY2020
Revenue
$437K
FY2019
Revenue by fiscal year
FY2019$437K
FY2020$325K
Expenses
$374K
FY2019
Expenses by fiscal year
FY2019$374K
FY2020$457K
Net assets
−$35K
FY2019
Net assets by fiscal year
FY2019−$35K
FY2020−$167K

From the FY2019 Form 990 · see the original

Form 990 (PDF) Claim
IRS revoked this organization's tax-exempt status on May 15, 2024
You’re viewing the FY2019 filing — not the latest on file. See the latest (FY2020) →

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2020.

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

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $269K Management & general 28% · $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

7 people listed on the 990.

Part VII, Section A · reportable compensation
Director/Tru
$0Pt VII · Sec A
Director/ Tr
$0Pt VII · Sec A
Director/Tru
$0Pt VII · Sec A
Vice - Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
See Eighteenth Street Development Corp executive salaries →

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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

Helps businesses navigate government issues and promotes local commerce through events and directories.

Provided by the organization

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3 programs · $150K · in their own filed words · FY2019
01

Technical Assistance Communities (tacom)

Eighteenth street development corporation. (esdc) is designated a housing resource center (hrc)and provides housing - related information, problem solving, community events and workshops to assist low-moderate income homeowners and residents. This initiative is funded by the chicago department of housing.

$59Kprogram expense
02

NBDC at esdc assists new small businesses with licensing,zoning and other issues which require interface with local and city government agencies. Esdc works with variety entities to provide small businesses with financial resources, employment and workforce development assistance, consumer makreting with a goal of connecting the small…

$58Kprogram expense
03

Local industrial retention initiative (liri) by working with over 200 small, medium and large scale businesses in pilsen's industrial corridor, the industrial development division of esdc assists in the growth and development of industrial businesses to expand employment opportunities in the community.

$33Kprogram 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 · FY2024
AARPFY2024$6K
Total grants receivedfrom 1 funder$6K

By the numbers

The FY2019 990, line by line.

1The main four
Money inPt VIII
$437K
Ln 12
Gifts and grantsLn 1h$319K
Other incomeLn 4–11$118K
Money outPt IX
$374K
Ln 25
Programscol B$269K
Managementcol C$105K
Owns and owesPt X
−$35K
net assets · Ln 32
Total assetsLn 16$136K
LiabilitiesLn 26$171K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$319K
Government grantsLn 1e$209K
Other incomeLn 4–11$118K
Total revenueLn 12$437K
Assets in detailPt X, end of year
Land, buildings, equipmentLn 10c$369
Total assetsLn 16$136K
LiabilitiesLn 26$171K
Net assetsLn 32−$35K
OperationsPt I, VI
EmployeesI 57
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 FY19End FY19
Land, buildings, equipmentLn 10c$427$369
Total assetsLn 16$22K$136K
LiabilitiesLn 26$120K$171K
Net assetsLn 32−$98K−$35K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$226K$171K$55K
Other employee benefitsLn 9$12K$11K$980
Payroll taxesLn 10$19K$17K$2K
Other fees for servicesLn 11g$78K$50K$28K
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$13K$9K$4K
Information technologyLn 14$3K$3K
OccupancyLn 16$14K$14K
TravelLn 17$5K$5K
Depreciation, depletion and amortizationLn 22$58$58
Total functional expensesLn 25$374K$269K$105K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2020 Latest $325K$457K−$132K−$167K 990 PDF
FY2019 Viewing $437K$374K$63K−$35K 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 FY2019 990 (6 parts)
Part I · Summary $436,863 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $160,640$319,118
I-9 Program service revenue$0
I-10 Investment incomePrior year $38$0
I-11 Other revenuePrior year $53,155$117,745
I-12 Total revenuePrior year $213,833$436,863
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $176,797$257,879
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $89,784$115,661
I-18 Total expensesPrior year $266,581$373,540
I-19 Revenue less expensesPrior year −$52,748$63,323
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 $436,863 across 6 lines filed
VIII-1b Membership dues$47,059
VIII-1e Government grants$209,181
VIII-1f All other contributions, gifts and grants$62,878
VIII-1h Total contributions, gifts and grants$319,118
VIII-8 Net income from fundraising eventsExcluded from tax $117,745$117,745
VIII-12 Total revenueExcluded from tax $117,745$436,863
Part IX · Statement of functional expenses $373,540 across 10 lines filed
IX-7 Other salaries and wagesPrograms $171,176 · Management $55,179$226,355
IX-9 Other employee benefitsPrograms $11,476 · Management $980$12,456
IX-10 Payroll taxesPrograms $16,648 · Management $2,420$19,068
IX-11g Other fees for servicesPrograms $49,553 · Management $28,260$77,813
IX-12 Advertising and promotionPrograms $3,733$3,733
IX-13 Office expensesPrograms $8,656 · Management $4,126$12,782
IX-14 Information technologyPrograms $2,701$2,701
IX-16 OccupancyManagement $14,000$14,000
IX-17 TravelPrograms $4,574$4,574
IX-22 Depreciation, depletion and amortizationManagement $58$58
IX-25 Total functional expensesPrograms $268,517 · Management $105,023 · Fundraising $0$373,540
Part X · Balance sheet $135,606 assets, 9 lines filed
X-4 Accounts receivableStart of year $22,134$135,237
X-10c Land, buildings and equipment, netStart of year $427$369
X-16 Total assetsStart of year $21,646$135,606
X-17 Accounts payable and accrued expenses$6,099
X-24 Unsecured notes and loans payableStart of year $39,500$39,500
X-25 Other liabilitiesStart of year $80,432$124,970
X-26 Total liabilitiesStart of year $119,932$170,569
X-32 Total net assets or fund balancesStart of year −$98,286−$34,963
X-33 Total liabilities and net assetsStart of year $21,646$135,606
Part XI · Reconciliation of net assets −$34,963 net assets at year end
XI-1 Total revenue$436,863
XI-2 Total expenses$373,540
XI-3 Revenue less expenses$63,323
XI-4 Net assets at start of year−$98,286
XI-10 Net assets at end of year−$34,963

Form 990 e-file (XML) FY2019 from the IRS · Classification, formation year and address from the IRS Business Master File

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