Overview
What is Chicago Development Fund?
The Chicago Development Fund is a nonprofit organization, primarily focused on boosting industrial businesses, community facilities, and retail establishments in underprivileged areas of Chicago. By investing capital in low-income communities, the organization aims to contribute to the city's economic development program and objectives. Maurice D Cox oversees the operations. The Chicago Development Fund achieves this goal by tapping into the New Markets Tax Credit Program, enabling private investment capital to be allocated for projects in underserved areas.
Official website here: www.chicagodevelopmentfund.org
Is Chicago Development Fund legitimate?
Chicago Development Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Chicago Development Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.chicagodevelopmentfund.org
What is the mission statement of Chicago Development Fund?
The Chicago Development Fund has a mission to foster the growth or expansion of industrial businesses, community facilities, and retail in underserved areas. This corporation operates primarily to support the economic development program and objectives of the city, promoting the establishment, development, or expansion of industries, community facilities, and retail, among other things. It achieves this by leveraging private investment capital through the New Markets Tax Credit Program, which can be made available for investments in low-income communities.
Official website here: www.chicagodevelopmentfund.org
Who is the CEO of Chicago Development Fund?
Maurice D Cox is the Principal Officer of Chicago Development Fund.
Official website here: www.chicagodevelopmentfund.org
What is the revenue of Chicago Development Fund?
Chicago Development Fund's revenue in 2022 was $941,101.
Official website here: www.chicagodevelopmentfund.org
Who are the executives of Chicago Development Fund and what are their salaries?
Here are 10 key members and their salaries:
- Compensation: $0
- Related: $129,432
- Other: $0
- Compensation: $0
- Related: $178,488
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $120,696
- Other: $0
- Compensation: $0
- Related: $183,852
- Other: $0
- Compensation: $0
- Related: $115,560
- Other: $0
- Compensation: $0
- Related: $133,545
- Other: $0
- Compensation: $0
- Related: $127,644
- Other: $0
- Compensation: $0
- Related: $189,288
- Other: $0
- Compensation: $0
- Related: $108,864
- Other: $0
Official website here: www.chicagodevelopmentfund.org
Where can I find the form 990 for Chicago Development Fund?
Chicago Development Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.chicagodevelopmentfund.org
Learn more at the official website: www.chicagodevelopmentfund.org
Mission Statement of Chicago Development Fund
The Chicago Development Fund, a corporation established for the benefit of the City of Chicago, is committed to promoting the growth or expansion of industrial businesses, community facilities, and underserved-area retail. This organization operates with a mission to assist in carrying out the economic development program and objectives of the city, and to encourage the development, establishment, or expansion of industries, community facilities, and retail in underserved areas. The Chicago Development Fund achieves this mission by generating private investment capital through the New Markets Tax Credit Program, which can be made available for investments in low-income communities. This initiative aims to stimulate economic development and improve the economic vitality of these communities, ultimately contributing to a more prosperous and equitable city.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
The Chicago Development Fund significantly impacts local economies by promoting the growth and expansion of industrial businesses, community facilities, and retail in underserved areas throughout Chicago. By channeling capital investments into low-income communities, the Fund facilitates economic revitalization and supports the establishment of vital services and jobs in these neighborhoods.
Through initiatives such as the New Markets Tax Credit program, the Fund attracts private investment capital. This strategic approach not only aids in fulfilling the economic development objectives of the City of Chicago but also empowers communities by fostering business development and enhancing access to essential resources. The Fund’s efforts contribute to long-term sustainability and improved quality of life for residents in low-income areas, ensuring that they benefit from economic opportunities and community enhancements.
This information is meant to be a general summary of Chicago Development Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $29,635
- Program Service Revenue: $911,465
- Gross Receipts: $941,101
Assets and Liabilities:
- Total Assets: $6,455,249
- Total Liabilities: $211,270
- Net Assets: $6,243,979
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEE INCOME
Revenue
$629,750
MANAGEMENT FEE INCOME
Revenue
$281,560
INCOME FROM INVESTMENT
Revenue
$155
Organization Details
Founding Year
2005
Phone
(312) 744-0765Principal Officer
Maurice D Cox
Main Address
121 NORTH LASALLE STREET 1006, CHICAGO, IL, 60602
NTEE Category
Code: W112 - Public benefit
If you are a representative of Chicago Development Fund and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.