Greater Chatham Initiative Inc is located in Chicago, IL. The organization was established in 2017. As of 12/2022, Greater Chatham Initiative Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Chatham Initiative 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 12/2022, Greater Chatham Initiative Inc generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 44.7% each year . All expenses for the organization totaled $2.1m during the year ending 12/2022. While expenses have increased by 46.9% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPLEMENT INTEGRATED HOUSING, WORK FORCE,BUSINESS DEVELOPMENT AND PUBLIC SAFETY STRATEGIES FOR 4 CHICAGO AFRICAN-AMERICAN NEIGHBORHOODS--AVALON PARK, AUBURN GRESHAM, CHATHAM, AND GREATER GRAND CROSSING ,SO THEY CAN CONTINUE TO BE NEIGBORHOODS OF CHOICE AND OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING DEVELOPMENT IS A KEY GREATER CHATHAM INITIATIVE GOAL - BOTH ATTRACTING NEW AND RETAINING EXISTING RENTERS AND HOMEOWNERS. GCI, IS A COMMUNITY PARTNER FOR THE CITY OF CHICAGO MICRO MARKET RECOVERY PROGRAM. GREATER CHATHAM INITIATIVE HAS HELPED REDUCE THE VACANCY RATE IN OUR 110-BLOCK MMRP AREA FROM 8% TO 5% BY (117 PROPERTIES REOCCUPIED), HELPED RESIDENTS SECURE $260,000 IN HOUSING IMPROVEMENT GRANTS, ASSISTED 4 FAMILIES IN OBTAINING WILLS AND TRANSFER ON DEATH INSTRUMENTS, AND CARRIED OUT NUMEROUS BLOCK CLEANUPS. WHILE DOING THIS WORK GREATER CHATHAM HAS GAINED VALUABLE INSIGHT ON DRIVERS OF VACANCIES AND WHAT TOOLS SOLVE THE PROBLEMS.THREE YEARS PRIOR TO THE PANDEMIC, GREATER CHATHAM INITIATIVE CONDUCTED SUMMER HOME BUYER TOURS, AND HELD THE FOLLOWING MENTIONED TACTICAL ACTIVATION ACTIVITIES SUCH AS DINING ON THE 5, 75TH STREET BOARDWALK TO BRING VISITORS TO AND ACQUAINT THEM WITH THE AREA. GREATER CHATHAM INITIATIVE PROVIDED BOOKLETS THAT EXTOLLED OUR EXCELLENT PUBLIC AND CHARTER SCHOOLS. THE MULTI-PRONG EFFORTS PAID OFF. GREATER CHATHAM IS A MODEST GROWTH AREA THAT IS NOT EXPERIENCING GENTRIFICATION DESPITE ITS SUBSTANTIAL MEDIAN HOUSING SALES PRICE INCREASE OF 41% FOR 14-UNIT PROPERTIES 2019 TO 2020. CHATHAM IS ONE OF THE FEW BLACK NEIGHBORHOODS WHERE THE POPULATION INCREASED 2% FROM 2010 TO 2020, AND THE HOMEOWNERSHIP RATE INCREASED 1.8%.
WORKFORCE DEVELOPMENT ARE ACTIVITIES PROVIDING CAREER PATHWAYS FOR RESIDENTS TO KEEP OR MAINTAIN LIVING WAGE/MIDDLE-SKILL JOBS. WE HAVE HELD OR CO-PRODUCED SIX JOB FAIRS THAT LED TO DOZENS OF PRE-PANDEMIC JOB PLACEMENTS. MOST RECENTLY WE HAVE FOUGHT HARD TO SECURE 5 WORKERS FOR LOCAL RESTAURANTS.
BUSINESS DEVELOPMENNT ARE ACTIVITIES GREATER CHATHAM INITIATIVE HAS FEATURED. FOODLAB CHICAGO A GCI PROGRAM THAT HAS ASSISTED WITH OPERATIONS, STABILITY, AND IMPROVEMENT OF 36 GREATER CHATHAM, SOUTH SHORE, AND ENGLEWOOD FOOD BUSINESSES. THE RESTAURANT OWNER/OPERATORS RECEIVED $3.2 MILLION IN GRANTS AND LOANS IN 2020-2022. FOODLAB CHICAGO ALSO COMPLETED A MARKET STUDY OF 18 RESTAURANTS, THEIR PLATE TYPES, COSTS, AND TRENDS. FOODLAB CHICAGO ALSO DEVELOPED FOR SELECT RESTAURANTS 6 NEW, ON-TREND PLATES THAT ARE CULTURALLY APPROPRIATE, HIGH QUALITY, NUTRITIONALLY RICH AND CALORIE CONSCIOUS. GREATER CHATHAM INITIATIVE HAS HELPED 49 NON-FOOD BUSINESS OWNERS RECEIVE $5.1 MILLION IN LOANS AND GRANTS FROM 2017 AND 2019. IN 2021 GREATER CHATHAM INITIATIVE FORMED THE NEW SOUL DELIVERED, WHICH IS A L3C BUSINESS-TO-BUSINESS FOOD DELIVERY SERVICE THAT WILL SERVE SOUTH SIDE RESTAURANTEURS CUSTOMERS. BY DELIVERING MEALS AT A MUCH-REDUCED COSTS FOR 18 BLACK-OWNED RESTAURANTS ALLOWS THOSE ENTREPRENEURS TO HAVE A SUSTAINABLE DELIVERY SERVICE BUSINESS MODEL
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nedra Fears Executive Dir. | Officer | 40 | $111,915 |
Michael Bennet Director | Trustee | 1 | $0 |
Robin Carter Director | Trustee | 1 | $0 |
Urie Clark Director | Trustee | 1 | $0 |
Donna Clarke Treasurer | OfficerTrustee | 1 | $0 |
Anthony Hardy Director | Trustee | 1 | $0 |
| 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 | $2,447,467 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,447,467 |
| Total Program Service Revenue | $56,557 |
| Investment income | $0 |
| 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 | $2,522,790 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $111,915 |
| Compensation of current officers, directors, key employees. | $4,477 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $536,079 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,236 |
| Payroll taxes | $63,344 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,933 |
| Fees for services: Accounting | $41,527 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $429,080 |
| Advertising and promotion | $81,171 |
| Office expenses | $24,111 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $61,379 |
| Travel | $18,189 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,409 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $19,216 |
| All other expenses | $98,444 |
| Total functional expenses | $2,109,361 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $397,042 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $787,500 |
| Accounts receivable, net | $161,592 |
| 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 | $2,665 |
| Net Land, buildings, and equipment | $156,802 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,002 |
| Total assets | $1,507,603 |
| Accounts payable and accrued expenses | $68,415 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $176,373 |
| Total liabilities | $244,788 |
| Net assets without donor restrictions | $1,262,815 |
| 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 | $1,507,603 |