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Nhs Redevelopment Corporation

Tax-deductible

Chicago, IL501(c)(3)Housing EIN 36-3014600Revenue $1.6M in FY2025

On file with the IRSnhschicago.org850 W Jackson Blvd 5th Floor, 60607-3032 · Chicago, ILTax-exempt since Jul 1980Publicly supported charity — 170(b)(1)(A)(vi)

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Strengthen neighborhoods and provide high-quality, affordable housing opportunities for low- and moderate-income families by developing properties throughout the city of chicago.

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
Run by 8 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average deficit $50K a year · 4% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
11 mo
of spending, in cash
Looks good: 11.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$5.3M
83% of total assets
Concern: liabilities are 83% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.6M
-14% vs prior year
Spent
$769K
To programs
81%
Net assets
$1.1M
By yearFY2020–FY2025
Revenue
$1.6M
FY2025▼ -14%
Tap a bar for its year
Revenue by fiscal year
FY2020$693K
FY2021$1.6M
FY2022$647K
FY2023$1.0M
FY2024$1.9M
FY2025$1.6M
Expenses
$769K
FY2025▲ +63%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.3M
FY2021$824K
FY2022$618K
FY2023$646K
FY2024$473K
FY2025$769K
Net assets
$1.1M
FY2025▲ +474%
Tap a bar for its year
Net assets by fiscal year
FY2020−$2.3M
FY2021−$1.6M
FY2022−$1.6M
FY2023−$1.2M
FY2024$184K
FY2025$1.1M

From the FY2025 Form 990 (year ending March 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1980.

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

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $625K Management & general 19% · $144K

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

10 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Adrienne Whitney
Vice President
$0Pt VII · Sec A
Molly Ekerdt
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Anthony Simpkins
Chief Executive Officer
$0Pt VII · Sec A
Tom Sakos
Chief Financial Officer
$0Pt VII · Sec A
Donna Clarke
Chief Operating Officer
$0Pt VII · Sec A
See Nhs Redevelopment Corporation 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

Develops affordable housing in Chicago to strengthen neighborhoods for low- and moderate-income families.

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1 program · $625K · in their own filed words · FY2024
01

NHSRC develops and preserves single-family housing. As a non-profit developer and partner, NHSRC has helped create and develop more than 425 units of affordable rental housing for senior citizens living in the roseland, south chicago, and wrightwood neighborhoods.

$625Kprogram expense

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.6M
Ln 12
Fees for servicesLn 2g$1.1M
Investment incomeLn 3$346K
Gifts and grantsLn 1h$179K
Money outPt IX
$769K
Ln 25
Programscol B$625K
Managementcol C$144K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$726K
Total assetsLn 16$6.3M
LiabilitiesLn 26$5.3M
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$179K
Fees for servicesLn 2g$1.1M
Investment incomeLn 3$346K
Other incomeLn 4–11$36
Gains on assetsLn 7$57K
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
CashLn 1$16K
SavingsLn 2$710K
Cash and savings togetherLn 1–2$726K
Land, buildings, equipmentLn 10c$1.6M
Other assetsLn 15$3.5M
Total assetsLn 16$6.3M
LiabilitiesLn 26$5.3M
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 68
Fiscal year endsHeaderMarch
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 FY25End FY25
Cash and savingsLn 1–2$2.2M$726K
Land, buildings, equipmentLn 10c$468K$1.6M
Total assetsLn 16$6.7M$6.3M
LiabilitiesLn 26$6.5M$5.3M
Net assetsLn 32$184K$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$310K$310K
Other employee benefitsLn 9$43K$35K$9K
Payroll taxesLn 10$25K$20K$5K
Accounting feesLn 11c$59K$59K
Other fees for servicesLn 11g$71K$71K
Office expensesLn 13$531$531
Information technologyLn 14$41K$41K
OccupancyLn 16$15K$15K
TravelLn 17$2K$2K
InterestLn 20$29K$29K
Other expenses (24a–d)Ln 24$122K$122K
All other expensesLn 24e$51K$51K
Total functional expensesLn 25$769K$625K$144K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $1.6M$769K$833K$1.1M 990 PDF
FY2024 $1.9M$473K$1.4M$184K 990 PDF
FY2023 $1.0M$646K$365K−$1.2M 990 PDF
FY2022 $647K$618K$29K−$1.6M 990 PDF
FY2021 $1.6M$824K$729K−$1.6M 990 PDF
FY2020 $693K$4.3M−$3.7M−$2.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $1,601,307 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $98,716$179,455
I-9 Program service revenuePrior year $313,210$1,075,583
I-10 Investment incomePrior year $1,529,189$346,233
I-11 Other revenuePrior year −$68,850$36
I-12 Total revenuePrior year $1,872,265$1,601,307
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 $417,761$377,787
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $55,191$390,946
I-18 Total expensesPrior year $472,952$768,733
I-19 Revenue less expensesPrior year $1,399,313$832,574
Part VI · Governance 5 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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 $1,601,307 across 7 lines filed
VIII-1f All other contributions, gifts and grants$179,455
VIII-1h Total contributions, gifts and grants$179,455
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,075,583$1,075,583
VIII-3 Investment incomeExcluded from tax $289,157$289,157
VIII-7 Net gain or loss on sales of assetsRelated to mission $57,076$57,076
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $36$36
VIII-12 Total revenueRelated to mission $1,132,695 · Unrelated business $0 · Excluded from tax $289,157$1,601,307
Part IX · Statement of functional expenses $768,733 across 12 lines filed
IX-7 Other salaries and wagesPrograms $309,817$309,817
IX-9 Other employee benefitsPrograms $34,586 · Management $8,646$43,232
IX-10 Payroll taxesPrograms $19,790 · Management $4,948$24,738
IX-11c Accounting feesManagement $59,179$59,179
IX-11g Other fees for servicesManagement $71,315$71,315
IX-13 Office expensesPrograms $531$531
IX-14 Information technologyPrograms $41,367$41,367
IX-16 OccupancyPrograms $14,979$14,979
IX-17 TravelPrograms $2,118$2,118
IX-20 InterestPrograms $29,068$29,068
IX-24 Other expenses (24a–d)Programs $121,677$121,677
IX-24e All other expensesPrograms $50,712$50,712
IX-25 Total functional expensesPrograms $624,645 · Management $144,088 · Fundraising $0$768,733
Part X · Balance sheet $6,347,302 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $384,221$15,742
X-2 Savings and temporary cash investmentsStart of year $1,780,785$709,792
X-4 Accounts receivableStart of year $197,771$486,767
X-10c Land, buildings and equipment, netStart of year $468,359$1,610,384
X-15 Other assetsStart of year $3,856,404$3,524,617
X-16 Total assetsStart of year $6,687,540$6,347,302
X-17 Accounts payable and accrued expensesStart of year $17,212$86,155
X-19 Deferred revenueStart of year $388,057$100,000
X-24 Unsecured notes and loans payableStart of year $1,750,000$232,495
X-25 Other liabilitiesStart of year $4,347,917$4,870,400
X-26 Total liabilitiesStart of year $6,503,186$5,289,050
X-27 Net assets without donor restrictionsStart of year $184,354$1,058,252
X-32 Total net assets or fund balancesStart of year $184,354$1,058,252
X-33 Total liabilities and net assetsStart of year $6,687,540$6,347,302
Part XI · Reconciliation of net assets $1,058,252 net assets at year end
XI-1 Total revenue$1,601,307
XI-2 Total expenses$768,733
XI-3 Revenue less expenses$832,574
XI-4 Net assets at start of year$184,354
XI-8 Prior period adjustments$41,324
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,058,252

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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