West Chicago Preservation Corp
- Assets
- $9.2m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 11/1993
- Data as of
- 12/2021
- EIN
- 36-3891982
Organization Overview
West Chicago Preservation Corp, operating under the name Towne & Country Apartments, is located in Chicago, IL. The organization was established in 1993. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Towne & Country Apartments 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, Towne & Country Apartments generated $2.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $6.9m during the year ending 12/2021. 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
TO PROVIDE SAFE, DECENT AND SANITARY RENTAL HOUSING FOR LOW AND MODERATE INCOME TENANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION OPERATES AN APARTMENT COMPLEX IN WEST CHICAGO, IL, OCCUPIED BY LOW INCOME TENANTS. 203 FAMILIES WERE SERVED IN 2021. THE SPONSOR OF THE PROJECT IS HISPANIC HOUSING DEVELOPMENT CORP. WHICH IS AN EXEMPT ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terrence Young Treasurer | OfficerTrustee | 0.2 | $0 |
Hipolito Roldan President | OfficerTrustee | 0.2 | $0 |
Paul Slade Secretary | OfficerTrustee | 0.2 | $0 |
Paul Mittleman VP Acquisitions And Asset Management | Officer | 0.2 | $0 |
Laura Selby Coo/cfo | Officer | 0.2 | $0 |
Stephen Porras VP Real Estate Development | 0.2 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,443,890 |
| Investment income | $2,940 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $2,715,959 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,099,748 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $354,797 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $95,791 |
| Payroll taxes | $25,176 |
| Fees for services: Management | $165,564 |
| Fees for services: Legal | $6,996 |
| Fees for services: Accounting | $38,167 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,894 |
| Advertising and promotion | $3,901 |
| Office expenses | $161,098 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $641,362 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $752,741 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $353,043 |
| Insurance | $161,209 |
| All other expenses | $0 |
| Total functional expenses | $6,913,114 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $556,403 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,250 |
| 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 | $41,493 |
| Net Land, buildings, and equipment | $6,169,150 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,374,908 |
| Total assets | $9,151,204 |
| Accounts payable and accrued expenses | $564,048 |
| Grants payable | $0 |
| Deferred revenue | $819 |
| 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 | $13,777,915 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $69,971 |
| Total liabilities | $14,412,753 |
| Net assets without donor restrictions | -$5,261,549 |
| 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 | $9,151,204 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Contacts Inc Elgin, IL | $3,819,582 | $12,869,082 |
Institute For Community Alliances Des Moines, IA | $2,443,302 | $12,133,028 |
New Directions Housing Corporation Louisville, KY | $27,737,851 | $9,868,214 |
Western Home Services Inc Cedar Falls, IA | $36,931,248 | $9,460,886 |
Chicago Metropolitan Housing Development Corporation Chicago, IL | $46,092,100 | $7,394,940 |
Partners For Community Development Inc Sheboygan, WI | $8,253,882 | $7,968,342 |
West Chicago Preservation Corp Chicago, IL | $9,151,204 | $2,715,959 |
Cedar Lake Residences Inc Louisville, KY | $2,301,086 | $7,918,008 |
Ahepa Affordable Housing Management Company Inc Fishers, IN | $29,875,447 | $8,886,631 |
Justine Petersen Housing And Reinvestment Corporation Saint Louis, MO | $49,338,747 | $7,649,655 |
Bridge Communities Inc Glen Ellyn, IL | $16,127,143 | $5,545,489 |
Appalachian Foothills Housing Agency Incorporated Wurtland, KY | $1,707,535 | $4,881,556 |