NEAR WEST SIDE COMMUNITY DEVELOPMENT CORPORATION

EIN: 363607203 501(c)(3)

CHICAGO, IL

Total Revenue
$2,412,250
Total Expenses
$2,693,395
Total Assets
$5,417,825
Net Assets
$4,124,315
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1988
Legal Domicile
IL
Principal Officer
EARNEST GATES
Phone
3127382280
Tax Period
2023-01-01 to 2023-12-31

NEAR WEST SIDE COMMUNITY DEVELOPMENT CORPORATION, founded in 1988, is a community nonprofit that reported $2.4M in total revenue in fiscal year 2023. Revenue decreased 9% compared to the prior year. Expenses of $2.7M exceeded revenue, resulting in a 12% operating deficit.

Mission

TO PROVIDE ECONOMIC DEVELOPMENT BY PROVIDING SAFE AND AFFORDABLE HOUSING, HOUSING COUNSELING, EMPLOYMENT REFERRALS AND TRAINING OPPORTUNITIES. ORGANIZATION ALSO DEVELOPS AND MANAGES PROPERTIES IN AN EFFORT TO MEET THE NEEDS OF 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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,235,347
Program Service Revenue $101,550
Investment Income $75,673
Other Revenue $-320
TOTAL REVENUE $2,412,250

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,428,189
Fundraising Expenses $0
Program Expenses $2,372,991
Other Expenses $1,265,206
TOTAL EXPENSES $2,693,395

Year-over-Year Comparison

2023 2022 Change
Revenue $2,412,250 $2,656,644 -0.1%
Expenses $2,693,395 $2,665,197 +0.0%
Net Income $-281,145 $-8,553 +31.9%
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

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Governance

Voting Members
7
Independent Members
7
Employees
354
Volunteers
N/A

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
4
$89,476
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
EARNEST GATES EXECUTIVE DI 40.00
Officer
$89,476 $0 $89,476
JANICE BENNETT PRESIDENT 2.00
Officer Director
$0 $0 $0
SHIRLEY CHAPPELL TREASURER 1.00
Officer Director
$0 $0 $0
EDWIN DUNN DIRECTOR 1.00
Director
$0 $0 $0
LAURA HASSAN PRESIDENT 2.00
Officer Director
$0 $0 $0
HOWARD PIZER DIRECTOR 1.00
Director
$0 $0 $0
ROCHELLE WILLFORD DIRECTOR 1.00
Director
$0 $0 $0
WILLIE WRIGHT DIRECTOR 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $2,412,250 $2,693,395 $5,417,825 $-281,145
2022 $2,656,644 $2,665,197 $5,487,738 $-8,553
2021 $2,610,798 $2,129,418 $5,618,989 $481,380
2020 $2,051,854 $2,108,272 $5,187,659 $-56,418
2019 $1,606,244 $1,645,829 $5,240,755 $-39,585
2018 $1,834,776 $1,736,254 $5,329,078 $98,522
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