Overview
What is Greater Southwest Development Corp?
Greater Southwest Development Corp is a nonprofit organization situated in Chicago, Illinois. Their primary focus is on property management, specifically managing senior housing properties and commercial retail spaces. Their mission is to stimulate the growth and upkeep of a thriving Greater Southwest Chicago community. The corporation serves as a driving force, empowering, constructing, and sustaining development, thereby enhancing the living standards of local residents, businesses, and industries. With a workforce of 38 individuals, Greater Southwest Development Corp plays a significant role in the neighborhood, contributing to its vitality and improvement.
Official website here: www.greatersouthwest.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 75% (Three-Star out of Four Stars ) ting)
Greater Southwest Development Corp has received a Three-Star rating from Charity Navigator, indicating a respectable level of accountability and finance management. The overall score is primarily based on their strong performance in several areas, such as having a fully independent board and a solid audit and oversight committee. However, while their financial statements reflect a low material diversion of assets and a favorable liabilities to assets ratio, there are some areas for improvement.
The organization excels with 100% independent board members and a robust financial oversight structure. Yet, notable weaknesses include missing policies regarding conflict of interest, whistleblower protections, and document retention. Additionally, the absence of documented board meeting minutes may raise concerns regarding transparency and governance practices.
With a program expense ratio of 64.02%, the organization allocates a significant portion of its funds to programs, which is a positive indicator of their operational focus. However, the lack of certain key policies could impact their long-term sustainability and public trust. Overall, while Greater Southwest Development Corp demonstrates a strong financial foundation, addressing governance gaps would enhance their accountability profile.
This AI summary has been generated from information found on Charity Navigator.
Is Greater Southwest Development Corp legitimate?
Greater Southwest Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Greater Southwest Development Corp 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: $147,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $819,320
For more financial information, click here
Official website here: www.greatersouthwest.org
What is the mission statement of Greater Southwest Development Corp?
The Greater Southwest Development Corporation serves as a catalyst for fostering a vibrant community in the Greater Southwest Chicago area. Their mission is to empower, construct, and sustain development, which ultimately enhances the quality of life for local residents, businesses, and industries. By promoting and managing senior housing properties and commercial retail spaces, they contribute significantly to the vitality and prosperity of their community.
Official website here: www.greatersouthwest.org
Who is the CEO of Greater Southwest Development Corp?
Adrian Soto is the President of Greater Southwest Development Corp.
Official website here: www.greatersouthwest.org
What is the revenue of Greater Southwest Development Corp?
Greater Southwest Development Corp's revenue in 2022 was $2,786,256.
Official website here: www.greatersouthwest.org
Who are the executives of Greater Southwest Development Corp and what are their salaries?
The average compensation at Greater Southwest Development Corp during 2022 was $25,429. There are 38 employees at Greater Southwest Development Corp.
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Official website here: www.greatersouthwest.org
Where can I find the form 990 for Greater Southwest Development Corp?
Greater Southwest Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.greatersouthwest.org
Learn more at the official website: www.greatersouthwest.org
Mission Statement of Greater Southwest Development Corp
Greater Southwest Development Corp serves as a catalyst for fostering a vibrant community in Greater Southwest Chicago. Their mission is centered around empowering, constructing, and sustaining development, with the ultimate goal of enhancing the quality of life for the area's residents, businesses, and industries. By actively engaging in property management, specifically managing senior housing properties and commercial retail space, Greater Southwest Development Corp contributes to the overall well-being of the community, ensuring it continues to thrive and prosper.
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Impact
October, 2024
Greater Southwest Development Corp serves as a vital catalyst for enhancing the Greater Southwest Chicago community. By managing and operating senior housing properties and commercial retail spaces, it plays a crucial role in both real estate and community development. The organization focuses on empowering residents, fostering business growth, and sustaining improvements that elevate the quality of life in the neighborhood. Its efforts contribute significantly to creating a vibrant community that supports both individuals and local industries, ultimately strengthening the overall vitality of the area.
This information is meant to be a general summary of Greater Southwest Development Corp. 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: $61,020
- Program Service Revenue: $140,213
- Gross Receipts: $2,786,256
Assets and Liabilities:
- Total Assets: $14,051,462
- Total Liabilities: $5,363,711
- Net Assets: $8,687,751
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROPERTY MANAGEMENT FEES
Revenue
$62,213
PARTNERSHIP MANAGEMENT FEE
Revenue
$78,000
Organization Details
Founding Year
1974
Phone
(773) 436-1000Principal Officer
Adrian Soto
Main Address
2601 W 63RD ST, CHICAGO, IL, 606291619
Website
www.greatersouthwest.orgNTEE Category
Code: S410 - Community improvement
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