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Afc Community Development Corporation FY2023 filing

Not tax-deductible

Chicago, IL501(c)(3) EIN 36-4030444Revenue $477K in FY2023

On file with the IRS7859 S Ashland Ave, 60620-4253 · Chicago, ILTax-exempt since Apr 1996Publicly supported charity — 170(b)(1)(A)(vi)

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Area Revitalization

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

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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
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
2 of 5
filings with a surplus
Average surplus $15K a year · 2% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$83K
72% of total assets
Worth a look: liabilities are 72% of assets; over 65%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$477K
-42% vs prior year
Spent
$568K
To programs
78%
Net assets
$32K
By yearFY2020–FY2024
Revenue
$477K
FY2023▼ -42%
Tap a bar for its year
Revenue by fiscal year
FY2020$669K
FY2021$696K
FY2022$819K
FY2023$477K
FY2024$382K
Expenses
$568K
FY2023▼ -31%
Tap a bar for its year
Expenses by fiscal year
FY2020$505K
FY2021$676K
FY2022$824K
FY2023$568K
FY2024$395K
Net assets
$32K
FY2023▼ -74%
Tap a bar for its year
Net assets by fiscal year
FY2020$177K
FY2021$198K
FY2022$123K
FY2023$32K
FY2024$19K

From the FY2023 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 1996.

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

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $442K Management & general 22% · $126K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Zeolia Gordon
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Sary Russell
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Afc Community Development 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

Afc Community Development Corporation is a nonprofit based in Chicago, IL.

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Provided by the organization

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1 program · $442K · in their own filed words · FY2023
01

Area Revitilization

$442Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$477K
Ln 12
Gifts and grantsLn 1h$477K
Money outPt IX
$568K
Ln 25
Programscol B$442K
Managementcol C$126K
Owns and owesPt X
$32K
net assets · Ln 32
Cash and savingsLn 1–2$64K
Total assetsLn 16$115K
LiabilitiesLn 26$83K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$477K
Government grantsLn 1e$406K
Gains on assetsLn 7$0
Total revenueLn 12$477K
Assets in detailPt X, end of year
CashLn 1$64K
Cash and savings togetherLn 1–2$64K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$115K
LiabilitiesLn 26$83K
Net assetsLn 32$32K
OperationsPt I, VI
EmployeesI 511
VolunteersI 64
Fiscal year endsHeaderDecember
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$6K$64K
Land, buildings, equipmentLn 10c$451$0
Total assetsLn 16$249K$115K
LiabilitiesLn 26$126K$83K
Net assetsLn 32$123K$32K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$320K$320K
Other employee benefitsLn 9$3K$3K
Payroll taxesLn 10$34K$34K
Office expensesLn 13$8K$2K$6K
OccupancyLn 16$39K$8K$31K
InterestLn 20$2K$2K
Depreciation, depletion and amortizationLn 22$451$451
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$124K$71K$53K
All other expensesLn 24e$36K$4K$32K$0
Total functional expensesLn 25$568K$442K$126K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $382K$395K−$13K$19K 990 PDF
FY2023 Viewing $477K$568K−$91K$32K 990 PDF
FY2022 $819K$824K−$5K$123K 990 PDF
FY2021 $696K$676K$21K$198K 990 PDF
FY2020 $669K$505K$163K$177K 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 $477,095 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $819,035$477,095
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $2$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $819,037$477,095
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 $407,715$357,193
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $415,937$210,626
I-18 Total expensesPrior year $823,652$567,819
I-19 Revenue less expensesPrior year −$4,615−$90,724
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 $477,095 across 7 lines filed
VIII-1e Government grants$406,206
VIII-1f All other contributions, gifts and grants$70,889
VIII-1h Total contributions, gifts and grants$477,095
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$477,095
Part IX · Statement of functional expenses $567,819 across 10 lines filed
IX-7 Other salaries and wagesPrograms $319,535$319,535
IX-9 Other employee benefitsPrograms $3,313$3,313
IX-10 Payroll taxesPrograms $34,345$34,345
IX-13 Office expensesPrograms $2,380 · Management $5,901$8,281
IX-16 OccupancyPrograms $7,743 · Management $31,242$38,985
IX-20 InterestManagement $1,709$1,709
IX-22 Depreciation, depletion and amortizationManagement $451$451
IX-23 InsuranceManagement $1,501$1,501
IX-24 Other expenses (24a–d)Programs $70,721 · Management $53,054$123,775
IX-24e All other expensesPrograms $4,078 · Management $31,846 · Fundraising $0$35,924
IX-25 Total functional expensesPrograms $442,115 · Management $125,704 · Fundraising $0$567,819
Part X · Balance sheet $114,658 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $5,574$63,680
X-3 Pledges and grants receivableStart of year $242,511$50,978
X-10c Land, buildings and equipment, netStart of year $451$0
X-16 Total assetsStart of year $248,536$114,658
X-24 Unsecured notes and loans payableStart of year $57,081$52,530
X-25 Other liabilitiesStart of year $21,059$27,649
X-26 Total liabilitiesStart of year $125,773$82,799
X-27 Net assets without donor restrictions$32,039
X-32 Total net assets or fund balancesStart of year $122,763$31,859
X-33 Total liabilities and net assetsStart of year $248,536$114,658
Part XI · Reconciliation of net assets $31,859 net assets at year end
XI-1 Total revenue$477,095
XI-2 Total expenses$567,819
XI-3 Revenue less expenses−$90,724
XI-4 Net assets at start of year$122,763
XI-10 Net assets at end of year$31,859

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

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