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Nhs Redevelopment Corporation FY2023 filing

Tax-deductible

Chicago, IL501(c)(3)Housing EIN 36-3014600Revenue $1.0M in FY2023

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.
90¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
52 mo
of spending, in cash
Looks good: 52.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$10.5M
113% of total assets
Concern: liabilities are 113% of assets; over 80%.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.0M
+56% vs prior year
Spent
$646K
To programs
90%
Net assets
−$1.2M
By yearFY2020–FY2025
Revenue
$1.0M
FY2023▲ +56%
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
$646K
FY2023▲ +5%
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
−$1.2M
FY2023▲ +23%
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 FY2023 Form 990 (year ending March 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

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

90 cents of each dollar spent went to programs.

Program services 90% · $581K Management & general 10% · $65K

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

14 people 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
$0Pt VII · Sec A
Adrienne Whitney
Vice President
$0Pt VII · Sec A
Paul Viamis
Treasurer
$0Pt VII · Sec A
Molly Ekerdt
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$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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Provided by the organization

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1 program · $581K · in their own filed words · FY2022
01

NHSRC develops and preserves single-family housing and owns a rental housing portfolio. 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.

$581Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.0M
Ln 12
Fees for servicesLn 2g$956K
Investment incomeLn 3$55K
Money outPt IX
$646K
Ln 25
Programscol B$581K
Managementcol C$65K
Owns and owesPt X
−$1.2M
net assets · Ln 32
Cash and savingsLn 1–2$2.8M
Total assetsLn 16$9.2M
LiabilitiesLn 26$10.5M
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$956K
Investment incomeLn 3$55K
Total revenueLn 12$1.0M
Assets in detailPt X, end of year
CashLn 1$2.8M
Cash and savings togetherLn 1–2$2.8M
Land, buildings, equipmentLn 10c$489K
Other assetsLn 15$4.5M
Total assetsLn 16$9.2M
LiabilitiesLn 26$10.5M
Net assetsLn 32−$1.2M
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 FY23End FY23
Cash and savingsLn 1–2$655K$2.8M
Land, buildings, equipmentLn 10c$467K$489K
Total assetsLn 16$7.9M$9.2M
LiabilitiesLn 26$9.4M$10.5M
Net assetsLn 32−$1.6M−$1.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$359K$338K$21K
Other employee benefitsLn 9$37K$34K$3K
Payroll taxesLn 10$31K$29K$2K
Accounting feesLn 11c$37K$37K
Information technologyLn 14$2K$2K
InterestLn 20$8K$8K
Other expenses (24a–d)Ln 24$117K$117K
All other expensesLn 24e$55K$55K
Total functional expensesLn 25$646K$581K$65K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.6M$769K$833K$1.1M 990 PDF
FY2024 $1.9M$473K$1.4M$184K 990 PDF
FY2023 Viewing $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 FY2023 990 (6 parts)
Part I · Summary $1,010,635 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $483,336$955,683
I-10 Investment incomePrior year $276,197$54,952
I-11 Other revenuePrior year −$112,358$0
I-12 Total revenuePrior year $647,175$1,010,635
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 $353,329$426,963
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $264,591$219,042
I-18 Total expensesPrior year $617,920$646,005
I-19 Revenue less expensesPrior year $29,255$364,630
Part VI · Governance 8 of 8 board members independent, no flags
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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 $1,010,635 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $955,683$955,683
VIII-3 Investment incomeExcluded from tax $54,952$54,952
VIII-12 Total revenueRelated to mission $955,683 · Unrelated business $0 · Excluded from tax $54,952$1,010,635
Part IX · Statement of functional expenses $646,005 across 8 lines filed
IX-7 Other salaries and wagesPrograms $338,112 · Management $20,907$359,019
IX-9 Other employee benefitsPrograms $33,888 · Management $3,314$37,202
IX-10 Payroll taxesPrograms $29,143 · Management $1,599$30,742
IX-11c Accounting feesManagement $36,662$36,662
IX-14 Information technologyManagement $2,096$2,096
IX-20 InterestPrograms $8,175$8,175
IX-24 Other expenses (24a–d)Programs $117,105$117,105
IX-24e All other expensesPrograms $55,004$55,004
IX-25 Total functional expensesPrograms $581,427 · Management $64,578 · Fundraising $0$646,005
Part X · Balance sheet $9,240,682 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $654,653$2,820,793
X-4 Accounts receivableStart of year $559,439$1,458,709
X-10c Land, buildings and equipment, netStart of year $466,883$489,009
X-15 Other assetsStart of year $6,181,847$4,472,171
X-16 Total assetsStart of year $7,862,822$9,240,682
X-17 Accounts payable and accrued expensesStart of year $656,481$31,358
X-24 Unsecured notes and loans payableStart of year $1,950,000$1,942,000
X-25 Other liabilitiesStart of year $6,835,931$8,482,284
X-26 Total liabilitiesStart of year $9,442,412$10,455,642
X-27 Net assets without donor restrictionsStart of year −$1,579,590−$1,214,960
X-32 Total net assets or fund balancesStart of year −$1,579,590−$1,214,960
X-33 Total liabilities and net assetsStart of year $7,862,822$9,240,682
Part XI · Reconciliation of net assets −$1,214,960 net assets at year end
XI-1 Total revenue$1,010,635
XI-2 Total expenses$646,005
XI-3 Revenue less expenses$364,630
XI-4 Net assets at start of year−$1,579,590
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$1,214,960

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

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