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Mainstreet Redevelopment Association

Tax-deductible

Forest Park, IL501(c)(3)Community DevelopmentEIN 36-3989959Revenue $179K in FY2024

On file with the IRSexploreforestpark.com7331 Roosevelt Rd, 60130-2470 · Forest Park, ILTax-exempt since Feb 1998Publicly supported charity — 170(b)(1)(A)(vi)

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Community development combining residential living with business development.

501(c)(3) charity; gifts are tax-deductible.
53¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

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
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
Spent on programs
53%
of spending
Worth a look: 53% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
15 mo
of spending, in cash
Looks good: 15.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$60K
35% of total assets
Looks good: liabilities are 35% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$179K
+37% vs prior year
Spent
$137K
To programs
53%
Net assets
$111K
By yearFY2020–FY2024
Revenue
$179K
FY2024▲ +37%
Tap a bar for its year
Revenue by fiscal year
FY2020$47K
FY2021$50K
FY2022$132K
FY2023$131K
FY2024$179K
Net assets
$111K
FY2024▲ +62%
Tap a bar for its year
Net assets by fiscal year
FY2020$37K
FY2021$6K
FY2022$47K
FY2023$68K
FY2024$111K

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 Feb 1998.

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

Where the money goes

53 cents of each dollar spent went to programs.

Program services 53% · $72K Management & general 47% · $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

5 people listed on the 990.

Part VII, Section A · reportable compensation
Dexter Cura
1st Vice Pre
$0Pt VII · Sec A
$0Pt VII · Sec A
David King
Officer
$0Pt VII · Sec A
Rob McAdam
Past Preside
$0Pt VII · Sec A
Neil Rembos
President
$0Pt VII · Sec A
See Mainstreet Redevelopment Association 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 15aNo

Programs and updates

Develops communities by integrating housing with business opportunities.

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Provided by the organization

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1 program · $72K · in their own filed words · FY2024
01

Community development combining residential living with business development.

$72Kprogram 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 · FY2022
Fidelity Investments Charitable Gift FundFY2022$20K
Total grants receivedfrom 1 funder$20K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$179K
Ln 12
Gifts and grantsLn 1h$72K
Fees for servicesLn 2g$58K
Other incomeLn 4–11$47K
Money outPt IX
$137K
Ln 25
Programscol B$72K
Managementcol C$65K
Owns and owesPt X
$111K
net assets · Ln 32
Cash and savingsLn 1–2$171K
Total assetsLn 16$171K
LiabilitiesLn 26$60K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$72K
Fees for servicesLn 2g$58K
Investment incomeLn 3$1K
Other incomeLn 4–11$47K
Total revenueLn 12$179K
Assets in detailPt X, end of year
CashLn 1$102K
SavingsLn 2$69K
Cash and savings togetherLn 1–2$171K
Total assetsLn 16$171K
LiabilitiesLn 26$60K
Net assetsLn 32$111K
OperationsPt I, VI
EmployeesI 50
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$130K$171K
Total assetsLn 16$130K$171K
LiabilitiesLn 26$62K$60K
Net assetsLn 32$68K$111K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other fees for servicesLn 11g$83K$25K$58K
Advertising and promotionLn 12$38K$38K
Office expensesLn 13$969$969
Information technologyLn 14$2K$2K
Conferences, conventions and meetingsLn 19$705$705
InterestLn 20$2K$2K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$6K$2K$4K
Total functional expensesLn 25$137K$72K$65K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $179K$137K$42K$111K 990 PDF
FY2023 $131K$68K 990 PDF
FY2022 $132K$47K 990 PDF
FY2021 $50K$6K 990 PDF
FY2020 $47K$37K 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 FY2024 990 (6 parts)
Part I · Summary $178,974 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $22,500$72,178
I-9 Program service revenuePrior year $54,761$58,254
I-10 Investment incomePrior year $830$1,324
I-11 Other revenuePrior year $52,522$47,218
I-12 Total revenuePrior year $130,613$178,974
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $109,522$136,569
I-18 Total expensesPrior year $109,522$136,569
I-19 Revenue less expensesPrior year $21,091$42,405
Part VI · Governance 6 of 6 board members independent, 4 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $178,974 across 7 lines filed
VIII-1f All other contributions, gifts and grants$72,178
VIII-1h Total contributions, gifts and grants$72,178
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $58,254$58,254
VIII-3 Investment incomeRelated to mission $1,324$1,324
VIII-8 Net income from fundraising eventsExcluded from tax $46,918$46,918
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $300$300
VIII-12 Total revenueRelated to mission $1,624 · Excluded from tax $105,172$178,974
Part IX · Statement of functional expenses $136,569 across 8 lines filed
IX-11g Other fees for servicesPrograms $24,904 · Management $58,109$83,013
IX-12 Advertising and promotionPrograms $38,204$38,204
IX-13 Office expensesManagement $969$969
IX-14 Information technologyPrograms $2,484$2,484
IX-19 Conferences, conventions and meetingsPrograms $705$705
IX-20 InterestManagement $1,636$1,636
IX-23 InsurancePrograms $3,569$3,569
IX-24 Other expenses (24a–d)Programs $2,102 · Management $3,887$5,989
IX-25 Total functional expensesPrograms $71,968 · Management $64,601 · Fundraising $0$136,569
Part X · Balance sheet $171,204 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $91,666$102,106
X-2 Savings and temporary cash investmentsStart of year $38,546$69,098
X-16 Total assetsStart of year $130,212$171,204
X-24 Unsecured notes and loans payableStart of year $59,300$59,300
X-25 Other liabilitiesStart of year $2,595$1,182
X-26 Total liabilitiesStart of year $61,895$60,482
X-27 Net assets without donor restrictionsStart of year $68,317$110,722
X-32 Total net assets or fund balancesStart of year $68,317$110,722
X-33 Total liabilities and net assetsStart of year $130,212$171,204
Part XI · Reconciliation of net assets $110,722 net assets at year end
XI-1 Total revenue$178,974
XI-2 Total expenses$136,569
XI-3 Revenue less expenses$42,405
XI-4 Net assets at start of year$68,317
XI-10 Net assets at end of year$110,722

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

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