BICKERDIKE REDEVELOPMENT CORPORATI… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1967

Legal Domicile

Principal Officer

JOY ARUGUETE

Phone

7732785669

Tax Period

2023-01-01 to 2023-12-31

BICKERDIKE REDEVELOPMENT CORPORATION, founded in 1967, is a community nonprofit in the Housing & Shelter sector that reported $9.5M in total revenue in fiscal year 2023. Revenue fell 22% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $4.1M, a strong 43% operating margin.

Mission

BICKERDIKE REDEVELOPMENT CORP IS ONE OF THE CITY'S OLDEST COMMUNITY DEVELOPMENT ORGANIZATIONS. THE ORGANIZATIONS MOST SIGNIFICANT ACTIVITIES ARE TO DEVELOP LOW INCOME HOUSING; TO PERFROM SERVICES FOR SENIOR CITIZENS AND HANDICAPPED INDIVIDUALS UNDER THE CONTRACT WITH THE CITY OF CHICAGO; TO PROVIDE AND MANAGE AFFORDABLE HOUSING; TO PROVIDE RENT SUBSIDY PAYMENTS TO LOW INCOME TENANTS

Program Service Accomplishments

Program 1

Expenses: $1,672,604 Revenue: $1,819,637

HOUSING DEVELOPMENT - BICKERDIKE HAS DEVELOPED 2,060 UNITS OF SAFE, QUALITY, AFFORDABLE HOUSING IN 264 BUILDINGS. WE PROVIDED HOMES FOR NEARLY 3,500 RESIDENTS AND ENSURE THAT THE PROPERTIES REMAIN...

HOUSING DEVELOPMENT - BICKERDIKE HAS DEVELOPED 2,060 UNITS OF SAFE, QUALITY, AFFORDABLE HOUSING IN 264 BUILDINGS. WE PROVIDED HOMES FOR NEARLY 3,500 RESIDENTS AND ENSURE THAT THE PROPERTIES REMAIN AFFORDABLE FOR LONG TERM.

Program 2

Expenses: $2,685,732 Revenue: $4,636,252

COMMERCIAL & ASSET MANAGEMENT - THE COMMERCIAL & ASSET PROGRAM IS INVOLVED WITH PROVIDING A VARIETY OF SERVICES TO THE COMMUNITY. WE HAVE SEVERAL COMMERCIAL SPACES WHICH ARE ALL LEASED TO OPERATORS WHO PROVIDE A WIDE RANGE OF NEEDED SERVICES TO LOCAL RESIDENTS. ONE OF OUR COMMERCIAL SPACES IS LEASED FOR THE OPERATION OF A FRESH MARKET AND GROCERY STORE THAT PROVIDES EASY ACCESS FOR COMMUNITY RESIDENTS TO FRESH, HEALTHY FOODS AT REASONABLE PRICES, AS WELL AS PROVIDING JOBS TO THE NEIGHBORHOOD RESIDENTS THROUGH A LOCAL EMPLOYMENT AGREEMENT. OUR SPACE KNOWN AS THE CALIFORNIA PARKING LOT IS LEASED TO A ERIE FAMILY HEALTH CENTER THAT SERVICES THE LOCAL COMMUNITY, PROVIDING LOW COST PARKING FOR ITS EMPLOYEES IN AN AREA WHERE PARKING IS SCARCE. THROUGH OUR LA ESTANCIA COMMERCIAL SPACES, WE RENT SPACE TO A DAY CARE CENTER SERVING LOCAL FAMILIES WITH DAY CARE AND AFTER SCHOOL PROGRAMMING; LEASE SPACE TO A LOCAL NOT FOR PROFIT FOR THE OPERATION OF A DIABETES PREVENTION PROGRAM; AS WELL AS SPACE FOR AUXILIARY CLASSROOMS FOR AN ALTERNATIVE HIGH SCHOOL AND THROUGH OUR ZAPATA COMMERCIAL SPACE WE LEASE SPACE TO A NON-PROFIT PROVIDER OF EMPLOYMENT AND SOCIAL SERVICES. OUR ASSET MANAGEMENT ACTIVITIES INCLUDE OVERSIGHT AND ACTIVITY RELATED TO OUR INTEREST IN THE ABOVE ASSETS, AS WELL AS OUR QUALITY AFFORDABLE HOUSING WHICH PROVIDES 2,060 UNITS OF BADLY NEEDED AFFORDABLE HOUSING IN OUR COMMUNITY.

Program 3

Expenses: $219,214

HOUSING RELATED SERVICES: TO PERFORM SERVICES FOR SENIOR CITIZENS INCLUDING MINOR REPAIRS AND ACCESSIBILITY IMPROVEMENTS TO HELP SENIORS LIVE IN THEIR HOMES INDEPENDENTLY AS WELL AS TECHNICAL AND...

HOUSING RELATED SERVICES: TO PERFORM SERVICES FOR SENIOR CITIZENS INCLUDING MINOR REPAIRS AND ACCESSIBILITY IMPROVEMENTS TO HELP SENIORS LIVE IN THEIR HOMES INDEPENDENTLY AS WELL AS TECHNICAL AND HOUSING RELATED INFORMATION PROVIDED TO THE COMMUNITY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $535,500

Program Service Revenue $2,946,264

Investment Income $2,521,248

Other Revenue $3,472,262

TOTAL REVENUE $9,475,274

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,836,444

Fundraising Expenses $115,235

Program Expenses $4,916,287

Other Expenses $2,579,661

TOTAL EXPENSES $5,416,105

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,475,274	$12,182,359	-0.2%
Expenses	$5,416,105	$5,069,365	+0.1%
Net Income	$4,059,169	$7,112,994	-0.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$255,020

Total Directors