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Lakeview East Development Corporation

Not tax-deductible

Chicago, IL501(c)(6)Mutual / membership EIN 36-3146679Revenue $452K in FY2024Latest return filed Jul 24, 2025

On file with the IRSlakevieweast.com3138 N Broadway, 60657-6383 · Chicago, ILTax-exempt since Jun 1987

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To promote the interests of businesses within the Lake View Community Chicago

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
Run by 5 volunteers and 18 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $105K a year · 7% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$139K
to officers and key staff · 33% of spending
Concern: pay to officers and key staff is 33% of spending; over 30%.
Pt VII · Sec A
Cash reserves
17 mo
of spending, in cash
Looks good: 16.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $50K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$32K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$452K
-56% vs prior year
Spent
$415K
To programs
0%
Net assets
$774K
By yearFY2020–FY2024
Revenue
$452K
FY2024▼ -56%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.9M
FY2021$2.2M
FY2022$2.4M
FY2023$1.0M
FY2024$452K
Expenses
$415K
FY2024▼ -56%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.8M
FY2021$2.0M
FY2022$2.4M
FY2023$952K
FY2024$415K
Net assets
$774K
FY2024▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2020$532K
FY2021$760K
FY2022$770K
FY2023$754K
FY2024$774K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1987.

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

Who runs it and what they're paid

17 people listed on the 990; $139K paid to officers and key staff.

Part VII, Section A · reportable compensation
Maureen Martino
Exec Director
$138,570Pt VII · Sec A
Esther Griego
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Stacy Loukas
Director
$0Pt VII · Sec A
Rocky Albazi
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Maureen Martino$138,570$122,479$130,465$125,351$111,479

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Lakeview East Development Corporation 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Supports businesses in the Lake View Community of Chicago.

Questions for Lakeview East Development Corporation

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Your first name shows with your question. Lakeview East Development Corporation answers here, for everyone.

3 programs · $111K · in their own filed words · FY2024
01

Art Festival to promote art in the community, encourage local shopping and promote local artists

$87Kprogram expense
02

Supperclub is to get the citizens of Lake View to get to know the local vendors.

$16Kprogram expense
03

Music Festival to promote local musicians and encourage shopping in the Belmont-Sheffield area of Chicago

$8Kprogram 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 · FY2021
Choose Chicago FoundationFY2021$50K
Total grants receivedfrom 1 funder$50K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$452K
Ln 12
Other incomeLn 4–11$169K
Gifts and grantsLn 1h$154K
Fees for servicesLn 2g$119K
Money outPt IX
$415K
Ln 25
Owns and owesPt X
$774K
net assets · Ln 32
Cash and savingsLn 1–2$585K
Total assetsLn 16$807K
LiabilitiesLn 26$32K
PeoplePt VI, VII
17
listed · VII A
PaidVII A1
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$154K
Government grantsLn 1e$44K
Noncash giftsLn 1g$17K
Fees for servicesLn 2g$119K
Investment incomeLn 3$9K
Other incomeLn 4–11$169K
Total revenueLn 12$452K
Assets in detailPt X, end of year
CashLn 1$585K
Cash and savings togetherLn 1–2$585K
Total assetsLn 16$807K
LiabilitiesLn 26$32K
Net assetsLn 32$774K
OperationsPt I, VI
EmployeesI 518
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$572K$585K
Total assetsLn 16$779K$807K
LiabilitiesLn 26$25K$32K
Net assetsLn 32$754K$774K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$95K
Pension plan contributionsLn 8$18K
Other employee benefitsLn 9$12K
Accounting feesLn 11c$900
Advertising and promotionLn 12$13K
Office expensesLn 13$5K
Information technologyLn 14$15K
OccupancyLn 16$27K
Conferences, conventions and meetingsLn 19$11K
InsuranceLn 23$7K
Other expenses (24a–d)Ln 24$179K
All other expensesLn 24e$33K
Total functional expensesLn 25$415K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest ViewingFiled with the IRS Jul 24, 2025 $452K$415K$37K$774K 990 PDF
FY2023Filed with the IRS May 9, 2024 $1.0M$952K$74K$754K 990 PDF
FY2022Filed with the IRS Aug 31, 2023 $2.4M$2.4M$7K$770K 990 PDF
FY2021Filed with the IRS Aug 3, 2022 $2.2M$2.0M$234K$760K 990 PDF
FY2020Filed with the IRS Jul 12, 2021 $1.9M$1.8M$171K$532K 990 PDF

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 $451,735 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $116,730$154,412
I-9 Program service revenuePrior year $671,284$119,454
I-10 Investment incomePrior year $272$8,659
I-11 Other revenuePrior year $237,715$169,210
I-12 Total revenuePrior year $1,026,001$451,735
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $684,804$124,790
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $267,016$290,191
I-18 Total expensesPrior year $951,820$414,981
I-19 Revenue less expensesPrior year $74,181$36,754
Part VI · Governance 16 of 16 board members independent, 3 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $451,735 across 10 lines filed
Lines not itemized here account for $102,760 of total revenue; see the IRS return.
VIII-1a Federated campaigns$86,743
VIII-1e Government grants$43,669
VIII-1f All other contributions, gifts and grants$24,000
VIII-1g Noncash contributions (included above)$16,870
VIII-1h Total contributions, gifts and grants$154,412
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $16,694$16,694
VIII-3 Investment incomeRelated to mission $8,659$8,659
VIII-8 Net income from fundraising events$152,013
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $17,197$17,197
VIII-12 Total revenueRelated to mission $145,310 · Unrelated business $0 · Excluded from tax $0$451,735
Part IX · Statement of functional expenses $414,981 across 12 lines filed
IX-7 Other salaries and wages$95,031
IX-8 Pension plan contributions$18,008
IX-9 Other employee benefits$11,751
IX-11c Accounting fees$900
IX-12 Advertising and promotion$12,691
IX-13 Office expenses$5,227
IX-14 Information technology$14,681
IX-16 Occupancy$26,683
IX-19 Conferences, conventions and meetings$11,171
IX-23 Insurance$6,536
IX-24 Other expenses (24a–d)$179,473
IX-24e All other expenses$32,829
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$414,981
Part X · Balance sheet $806,529 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $571,502$584,523
X-4 Accounts receivableStart of year $203,805$218,006
X-9 Prepaid expenses and deferred chargesStart of year $4,000$4,000
X-16 Total assetsStart of year $779,307$806,529
X-17 Accounts payable and accrued expensesStart of year $24,890$32,226
X-26 Total liabilitiesStart of year $24,890$32,226
X-27 Net assets without donor restrictionsStart of year $754,417$774,303
X-32 Total net assets or fund balancesStart of year $754,417$774,303
X-33 Total liabilities and net assetsStart of year $779,307$806,529
Part XI · Reconciliation of net assets $774,303 net assets at year end
XI-1 Total revenue$451,735
XI-2 Total expenses$414,981
XI-3 Revenue less expenses$36,754
XI-4 Net assets at start of year$754,417
XI-9 Other changes in net assets−$16,868
XI-10 Net assets at end of year$774,303

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

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