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Foundation for Homan Square FY2020 filing

Tax-deductible

Chicago, IL501(c)(3)Community DevelopmentEIN 36-4032118Revenue $1.8M in FY2020

On file with the IRShomansquare.org906 S Homan Ave, 60624-4135 · Chicago, ILTax-exempt since Oct 1996Publicly supported charity — 170(b)(1)(A)(vi)

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Facilitate, encourage, and foster the welfare of low-income and underprivileged families and individuals residing in the city of chicago through promotion of affordable housing, homeownership, community redevelopment, and other charitable activities.

501(c)(3) charity; gifts are tax-deductible.
75¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $1.6M a year · 120% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
75%
of spending
Fine: 75% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 4.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
7
named funders · $571K
Looks good: 7 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$818K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
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
$1.8M
Spent
$3.0M
To programs
75%
Net assets
$55.4M
By yearFY2020–FY2024
Revenue
$1.8M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.8M
FY2021$595K
FY2022$1.2M
FY2023$1.6M
FY2024$1.6M
Expenses
$3.0M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$3.0M
FY2021$2.8M
FY2022$3.0M
FY2023$3.5M
FY2024$2.9M
Net assets
$55.4M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$55.4M
FY2021$53.3M
FY2022$51.4M
FY2023$49.7M
FY2024$48.5M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 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 Oct 1996.

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

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $2.2M Management & general 25% · $744K Fundraising 0% · $4K

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
Kristin Dean
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Foundation for Homan Square 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

Helps Chicago families and individuals by promoting affordable housing and community development.

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Provided by the organization

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1 program · $2.2M · in their own filed words · FY2020
01

Facilitate, encourage and foster the welfare of low-income and underprivileged families and individuals residing in the city of chicago through promotion of affordable housing, home ownership, community redevelopment and other charitable activities

$2.2Mprogram 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 · FY2024
John D and Alexandra C Nichols Family FoundationFY2024$400K
IffFY2024$122K
Gs Donor Advised Philanthropy Fund for Wealth Management INCFY2024$20K
Center for Neighborhood TechnologyFY2024$15K
Charles H and Beverly E Shaw FoundationFY2024$5K
Kaufman Family FoundationFY2024$5K
The Lawlor FoundationFY2024$4K
Total grants receivedfrom 7 funders$571K
See all 7 funders →

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.8M
Ln 12
Fees for servicesLn 2g$1.2M
Gifts and grantsLn 1h$432K
Other incomeLn 4–11$154K
Money outPt IX
$3.0M
Ln 25
Programscol B$2.2M
Managementcol C$744K
Fundraisingcol D$4K
Owns and owesPt X
$55.4M
net assets · Ln 32
Cash and savingsLn 1–2$989K
Total assetsLn 16$56.2M
LiabilitiesLn 26$818K
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$432K
Fees for servicesLn 2g$1.2M
Investment incomeLn 3$42K
Other incomeLn 4–11$154K
Total revenueLn 12$1.8M
Assets in detailPt X, end of year
CashLn 1$959K
SavingsLn 2$30K
Cash and savings togetherLn 1–2$989K
InvestmentsLn 11–13$16.9M
Land, buildings, equipmentLn 10c$34.2M
Other assetsLn 15$3.9M
Total assetsLn 16$56.2M
LiabilitiesLn 26$818K
Net assetsLn 32$55.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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 FY20End FY20
Cash and savingsLn 1–2$862K$989K
InvestmentsLn 11–13$16.7M$16.9M
Land, buildings, equipmentLn 10c$35.4M$34.2M
Total assetsLn 16$57.0M$56.2M
LiabilitiesLn 26$598K$818K
Net assetsLn 32$56.4M$55.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$874K$244K$630K
Legal feesLn 11b$1K$1K
Accounting feesLn 11c$50K$50K
Advertising and promotionLn 12$9K$9K
Office expensesLn 13$33K$4K$25K$4K
OccupancyLn 16$63K$63K
TravelLn 17$278$278
InterestLn 20$18K$18K
Depreciation, depletion and amortizationLn 22$1.3M$1.3M
InsuranceLn 23$70K$70K
Other expenses (24a–d)Ln 24$493K$453K$40K
All other expensesLn 24e$243$243
Total functional expensesLn 25$3.0M$2.2M$744K$4K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.6M$2.9M−$1.3M$48.5M 990 PDF
FY2023 $1.6M$3.5M−$1.8M$49.7M 990 PDF
FY2022 $1.2M$3.0M−$1.8M$51.4M 990 PDF
FY2021 $595K$2.8M−$2.2M$53.3M 990 PDF
FY2020 Viewing $1.8M$3.0M−$1.2M$55.4M 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 FY2020 990 (6 parts)
Part I · Summary $1,793,014 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $109,208$432,406
I-9 Program service revenuePrior year $1,458,793$1,164,638
I-10 Investment incomePrior year $159,832$41,557
I-11 Other revenuePrior year $50,792$154,413
I-12 Total revenuePrior year $1,778,625$1,793,014
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,968,557$2,951,544
I-18 Total expensesPrior year $2,968,557$2,951,544
I-19 Revenue less expensesPrior year −$1,189,932−$1,158,530
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 $1,793,014 across 6 lines filed
VIII-1f All other contributions, gifts and grants$432,406
VIII-1h Total contributions, gifts and grants$432,406
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,164,638$1,164,638
VIII-3 Investment incomeExcluded from tax $41,557$41,557
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $154,413$154,413
VIII-12 Total revenueRelated to mission $1,319,051 · Unrelated business $0 · Excluded from tax $41,557$1,793,014
Part IX · Statement of functional expenses $2,951,544 across 12 lines filed
IX-11a Management feesPrograms $244,257 · Management $629,882$874,139
IX-11b Legal feesPrograms $1,205$1,205
IX-11c Accounting feesManagement $49,550$49,550
IX-12 Advertising and promotionPrograms $9,215$9,215
IX-13 Office expensesPrograms $3,618 · Management $25,190 · Fundraising $3,800$32,608
IX-16 OccupancyPrograms $63,280$63,280
IX-17 TravelPrograms $278$278
IX-20 InterestPrograms $17,605$17,605
IX-22 Depreciation, depletion and amortizationPrograms $1,340,638$1,340,638
IX-23 InsurancePrograms $70,281$70,281
IX-24 Other expenses (24a–d)Programs $452,744 · Management $39,758$492,502
IX-24e All other expensesPrograms $243$243
IX-25 Total functional expensesPrograms $2,203,364 · Management $744,380 · Fundraising $3,800$2,951,544
Part X · Balance sheet $56,228,741 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $829,555$959,306
X-2 Savings and temporary cash investmentsStart of year $32,811$29,503
X-4 Accounts receivableStart of year $97,068$117,344
X-9 Prepaid expenses and deferred chargesStart of year $74,344$68,773
X-10c Land, buildings and equipment, netStart of year $35,385,458$34,216,065
X-11 Publicly traded securitiesStart of year $568,539$685,872
X-12 Other securitiesStart of year $16,110,596$16,233,683
X-15 Other assetsStart of year $3,935,444$3,918,195
X-16 Total assetsStart of year $57,033,815$56,228,741
X-17 Accounts payable and accrued expensesStart of year $251,591$246,234
X-19 Deferred revenueStart of year $60,338$144,504
X-24 Unsecured notes and loans payableStart of year $279,312$414,754
X-25 Other liabilitiesStart of year $6,732$12,485
X-26 Total liabilitiesStart of year $597,973$817,977
X-27 Net assets without donor restrictionsStart of year $50,553,218$49,457,871
X-28 Net assets with donor restrictionsStart of year $5,882,624$5,952,893
X-32 Total net assets or fund balancesStart of year $56,435,842$55,410,764
X-33 Total liabilities and net assetsStart of year $57,033,815$56,228,741
Part XI · Reconciliation of net assets $55,410,764 net assets at year end
XI-1 Total revenue$1,793,014
XI-2 Total expenses$2,951,544
XI-3 Revenue less expenses−$1,158,530
XI-4 Net assets at start of year$56,435,842
XI-5 Net unrealized gains (losses) on investments$133,452
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$55,410,764

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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