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Nhs Redevelopment Corporation FY2024 filing

Tax-deductible

Chicago, IL501(c)(3)Housing EIN 36-3014600Revenue $1.9M in FY2024

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.
91¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2024 · 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
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
55 mo
of spending, in cash
Looks good: 54.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$6.5M
97% of total assets
Concern: liabilities are 97% 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
$1.9M
+85% vs prior year
Spent
$473K
To programs
91%
Net assets
$184K
By yearFY2020–FY2025
Revenue
$1.9M
FY2024▲ +85%
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
$473K
FY2024▼ -27%
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
$184K
FY2024▲ +115%
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 FY2024 Form 990 (year ending March 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 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

91 cents of each dollar spent went to programs.

Program services 91% · $428K Management & general 9% · $45K

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

15 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 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 · $428K · in their own filed words · FY2023
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.

$428Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.9M
Ln 12
Investment incomeLn 3$1.5M
Fees for servicesLn 2g$313K
Gifts and grantsLn 1h$99K
Money outPt IX
$473K
Ln 25
Programscol B$428K
Managementcol C$45K
Owns and owesPt X
$184K
net assets · Ln 32
Cash and savingsLn 1–2$2.2M
Total assetsLn 16$6.7M
LiabilitiesLn 26$6.5M
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$99K
Government grantsLn 1e$94K
Fees for servicesLn 2g$313K
Investment incomeLn 3$1.5M
Gains on assetsLn 7$72K
Total revenueLn 12$1.9M
Assets in detailPt X, end of year
CashLn 1$384K
SavingsLn 2$1.8M
Cash and savings togetherLn 1–2$2.2M
Land, buildings, equipmentLn 10c$468K
Other assetsLn 15$3.9M
Total assetsLn 16$6.7M
LiabilitiesLn 26$6.5M
Net assetsLn 32$184K
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 FY24End FY24
Cash and savingsLn 1–2$2.8M$2.2M
Land, buildings, equipmentLn 10c$489K$468K
Total assetsLn 16$9.2M$6.7M
LiabilitiesLn 26$10.5M$6.5M
Net assetsLn 32−$1.2M$184K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$111K$93K$18K
Other salaries and wagesLn 7$240K$240K
Other employee benefitsLn 9$45K$41K$4K
Payroll taxesLn 10$22K$20K$2K
Accounting feesLn 11c$21K$21K
InterestLn 20$20K$20K
All other expensesLn 24e$14K$14K
Total functional expensesLn 25$473K$428K$45K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.6M$769K$833K$1.1M 990 PDF
FY2024 Viewing $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 FY2024 990 (6 parts)
Part I · Summary $1,872,265 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$98,716
I-9 Program service revenuePrior year $955,683$313,210
I-10 Investment incomePrior year $54,952$1,529,189
I-11 Other revenuePrior year $0−$68,850
I-12 Total revenuePrior year $1,010,635$1,872,265
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 $426,963$417,761
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $219,042$55,191
I-18 Total expensesPrior year $646,005$472,952
I-19 Revenue less expensesPrior year $364,630$1,399,313
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 $1,872,265 across 9 lines filed
VIII-1e Government grants$93,716
VIII-1f All other contributions, gifts and grants$5,000
VIII-1h Total contributions, gifts and grants$98,716
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $313,210$313,210
VIII-3 Investment incomeExcluded from tax $1,456,699$1,456,699
VIII-6 Net rental income or lossRelated to mission −$73,294−$73,294
VIII-7 Net gain or loss on sales of assetsRelated to mission $72,490$72,490
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $4,444$4,444
VIII-12 Total revenueRelated to mission $316,850 · Unrelated business $0 · Excluded from tax $1,456,699$1,872,265
Part IX · Statement of functional expenses $472,952 across 7 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $93,366 · Management $17,857$111,223
IX-7 Other salaries and wagesPrograms $239,880$239,880
IX-9 Other employee benefitsPrograms $40,948 · Management $3,700$44,648
IX-10 Payroll taxesPrograms $20,224 · Management $1,786$22,010
IX-11c Accounting feesManagement $21,209$21,209
IX-20 InterestPrograms $20,385$20,385
IX-24e All other expensesPrograms $13,597$13,597
IX-25 Total functional expensesPrograms $428,400 · Management $44,552 · Fundraising $0$472,952
Part X · Balance sheet $6,687,540 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $2,820,793$384,221
X-2 Savings and temporary cash investments$1,780,785
X-4 Accounts receivableStart of year $1,458,709$197,771
X-10c Land, buildings and equipment, netStart of year $489,009$468,359
X-15 Other assetsStart of year $4,472,171$3,856,404
X-16 Total assetsStart of year $9,240,682$6,687,540
X-17 Accounts payable and accrued expensesStart of year $31,358$17,212
X-19 Deferred revenue$388,057
X-24 Unsecured notes and loans payableStart of year $1,942,000$1,750,000
X-25 Other liabilitiesStart of year $8,482,284$4,347,917
X-26 Total liabilitiesStart of year $10,455,642$6,503,186
X-27 Net assets without donor restrictionsStart of year −$1,214,960$184,354
X-32 Total net assets or fund balancesStart of year −$1,214,960$184,354
X-33 Total liabilities and net assetsStart of year $9,240,682$6,687,540
Part XI · Reconciliation of net assets $184,354 net assets at year end
XI-1 Total revenue$1,872,265
XI-2 Total expenses$472,952
XI-3 Revenue less expenses$1,399,313
XI-4 Net assets at start of year−$1,214,960
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$184,354

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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