Greater Southwest Development Corporation
- Assets
- $9.4m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 33
- Location
- Chicago, IL
- Founding
- 09/1977
- Data as of
- 12/2021
- EIN
- 36-2858304
Organization Overview
Greater Southwest Development Corporation is located in Chicago, IL. The organization was established in 1977. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Greater Southwest Development Corporation employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Southwest Development Corporation 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 12/2021, Greater Southwest Development Corporation generated $2.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $1.7m during the year ending 12/2021. While expenses have increased by 4.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE GREATER SOUTHWEST DEVELOPMENT CORPORATION IS THE CATALYST FOR CREATING AND MAINTAINING A VITAL GREATER SOUTHWEST CHICAGO COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROPERTY MANAGEMENT - MANGAGE AND OPERATE SENIOR HOUSING PROPERTIES AND COMMERCIAL RETAIL SPACE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adrian Soto Executive Director | Officer | 45 | $113,134 |
Manuel Jimenez President | OfficerTrustee | 2 | $0 |
Gintaras Cepenas Vice President | OfficerTrustee | 2 | $0 |
Jeff Bartow Secretary | OfficerTrustee | 2 | $0 |
Mark Divalerio Treasurer | OfficerTrustee | 2 | $0 |
Laurie Sedio Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Treagan Technology Group It Technology | 12/30/19 | $130,541 |
Halo Security Group Security Services | 12/30/19 | $123,544 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,078,081 |
| All other contributions, gifts, grants, and similar amounts not included above | $385,044 |
| Noncash contributions included in lines 1a–1f | $36,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,463,125 |
| Total Program Service Revenue | $150,091 |
| Investment income | $59,589 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $271,499 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,172,878 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,050 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $113,134 |
| Compensation of current officers, directors, key employees. | $26,021 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $601,648 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $124,002 |
| Payroll taxes | $57,353 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,601 |
| Fees for services: Accounting | $52,706 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $252,866 |
| Advertising and promotion | $0 |
| Office expenses | $64,805 |
| Information technology | $31,769 |
| Royalties | $0 |
| Occupancy | $257,017 |
| Travel | $11,476 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,189 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,399 |
| Insurance | $43,019 |
| All other expenses | $9,147 |
| Total functional expenses | $1,714,414 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $391,441 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $661,010 |
| Accounts receivable, net | $163,397 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $955,720 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $48,109 |
| Net Land, buildings, and equipment | $173,900 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,015,563 |
| Total assets | $9,409,140 |
| Accounts payable and accrued expenses | $145,232 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $357,500 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $324,469 |
| Total liabilities | $827,201 |
| Net assets without donor restrictions | $8,581,939 |
| 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 | $9,409,140 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Greater Southwest Development Corporation has recieved totaling $195,250.
| Awarding Organization | Amount |
|---|---|
Latinos Progresando Chicago, IL PURPOSE: General operating | $60,000 |
Coleman Foundation Inc Chicago, IL PURPOSE: ENTREPRENEURSHIP - GENERAL OPERATING SUPPORT | $51,250 |
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $49,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $25,000 |
Marquette Bank Affordable Housing Foundation Chicago, IL PURPOSE: COMMUNITY DEVELOPMENT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Association Of Orthopaedic Surgeons Of America Rosemont, IL | $21,165,468 | $24,653,127 |
Dane Buy Local Foundation Inc Madison, WI | $199,958 | $19,130,759 |
St John Building Corporation St Louis, MO | $229,726,241 | $17,258,959 |
Appraisal Institute Chicago, IL | $29,125,581 | $19,187,200 |
American Massage Therapy Assn Evanston, IL | $43,659,958 | $20,082,192 |
National Roofing Contractors Association Rosemont, IL | $27,483,299 | $17,802,756 |
National Biodiesel Board Jefferson City, MO | $12,011,947 | $15,134,555 |
American Marketing Association Inc Chicago, IL | $9,741,723 | $15,191,106 |
Alliance For Audited Media Lisle, IL | $17,794,762 | $11,739,341 |
American Society Of Safety Professionals Park Ridge, IL | $23,941,077 | $16,437,200 |
Board Of Certified Safety Professionals Of The Americas Inc Indianapolis, IN | $35,079,358 | $17,695,377 |
Prestressed Concrete Institute Chicago, IL | $8,854,978 | $13,790,264 |