Westside Community Development Corporation Inc
- Assets
- $6.2m
- Revenue
- $1.8m
- Investments
- $613.9k
- Employees
- 2
- Location
- Indianapolis, IN
- Founding
- 12/1985
- Data as of
- 12/2023
- EIN
- 35-1643969
Organization Overview
Westside Community Development Corporation Inc is located in Indianapolis, IN. The organization was established in 1985. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Westside Community Development Corporation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westside Community Development Corporation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Westside Community Development Corporation Inc generated $1.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $719.4k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ENTITY OPERATES HOUSING DEVELOPMENT PROGRAMS FOR LOW-INCOME INDIVIDUALS AND ECONOMIC DEVELOPMENT PROGRAMS FOR A SPECIFIED AREA WITHIN THE CITY OF INDIANAPOLIS, INDIANA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFFORDABLE HOMEOWNERSHIP - PLANNED THE CREATION OF 8-UNITS OF HOMEOWNERSHIP IN PARTNERSHIP WITH 4-MBE EMERGING DEVELOPERS FOR 2024- AWARDED A $1,000,000 GRANT FROM THE NATIONAL URBAN LEAGUE-IAAQLI TO CREATE 17-UNITS OF AFFORDABLE HOMEOWNERSHIP UNITS FOR BUYERS WITH INCOME UP TO 120% AMI BY 2025.- AWARDED FUNDING IN THE PREMIERE CITY FUNDED PROGRAM VIA ARPA, VACANT TO VIBRANT, CONVERTING 4-SMALL VACANT LOTS TO 2-UNITS OF HOUSING FOR BUYERS UP TO 80% AMI.- AWARDED INDI FUNDING FROM INHP TO ASSIST WITH THE 2024 BUIL
AFFORDABLE RENTAL HOUSING- 35 UNITS OF LOW-INCOME RENTAL HOUSING, CHRISTAMORE COURT APARTMENTS A 34-UNIT APARTMENT BUILDING EXCLUSIVELY FOR SENIORS AND A SINGLE-FAMILY HOME UNIT.- PROPERTY MANAGEMENT SERVICES. - RESYNDICATED APARTMENT BUILIDNG, INCLUDING A $850,000 GRANT AWARD FROM NATIONAL URBAN LEAGUE- IAAQLI, AND $1,000,000 HOME FINANCING FROM THE CITY OF INDIANAPOLIS RESULTING IN THE SELL OF THE APARTMENT BUILIDNG AS A LIHTC PROJECT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Olgen Williams President | OfficerTrustee | 3 | $0 |
Cindy Tow Secretary | OfficerTrustee | 1 | $0 |
Tehea Harding Treasurer | OfficerTrustee | 1 | $0 |
Annette Avant Director | Trustee | 1 | $0 |
Joanne Classick Director | Trustee | 1 | $0 |
Brigette Collier Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $780,817 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $780,817 |
| Total Program Service Revenue | $4,800 |
| Investment income | $115,585 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $856,049 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,757,830 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $411,180 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $90,000 |
| Compensation of current officers, directors, key employees. | $45,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,975 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,592 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $54,567 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $792 |
| Office expenses | $14,741 |
| Information technology | $598 |
| Royalties | $0 |
| Occupancy | $78,304 |
| Travel | $243 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $975 |
| Interest | $12,487 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,879 |
| Insurance | $23,058 |
| All other expenses | $0 |
| Total functional expenses | $719,391 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,095,619 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,125 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,413 |
| Net Land, buildings, and equipment | $23,302 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $613,899 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,491,850 |
| Total assets | $6,236,208 |
| Accounts payable and accrued expenses | $16,969 |
| Grants payable | $0 |
| Deferred revenue | $503,169 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $512,232 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,896 |
| Total liabilities | $1,037,266 |
| Net assets without donor restrictions | $5,198,942 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,236,208 |