Overview
What is West Chicago Preservation Corporation?
West Chicago Preservation Corporation is a nonprofit organization situated in Chicago, Illinois, specifically at 325 N Wells 8th Floor, serving the 60654 ZIP code. Its primary mission is to offer safe, clean, and hygienic rental housing options for individuals and families with modest incomes. In 2022, they served a total of 192 families within their apartment complex. The project is sponsored by Hispanic Housing Development Corp., an exempt organization. The corporation's primary focus is on providing an appropriate living environment for low-income families, ensuring their well-being and maintaining a positive community atmosphere.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 72%, earning a Two-Star out of Four Star rating
The West Chicago Preservation Corporation has received a 72% rating from Charity Navigator, which falls into the Two-Star category. This score indicates that while the nonprofit demonstrates some accountability and finance standards, there are significant areas that require improvement, particularly in its board independence and financial balance.
The organization excels in areas such as its program expense ratio, with an impressive 93.77%, showing a strong commitment to its mission and effective allocation of resources towards programs. Additionally, it has robust policies in place for conflict of interest, whistleblower protection, and document retention, reflecting a commitment to transparency and ethical governance.
However, the nonprofit's board structure is a notable area of concern, with only two independent board members, resulting in a lack of diversity in oversight. Furthermore, its liabilities to assets ratio indicates financial instability, which could impact its long-term sustainability and effectiveness. Addressing these limitations would enhance the organization's overall governance and financial health.
This AI summary has been generated from information found on Charity Navigator.
Is West Chicago Preservation Corporation legitimate?
West Chicago Preservation Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. West Chicago Preservation Corporation 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: $321,425
For more financial information, click here
What is the mission statement of West Chicago Preservation Corporation?
The West Chicago Preservation Corporation's mission is centered around providing safe, decent, and sanitary rental housing for individuals and families with low and moderate income levels. By operating an apartment complex, they aim to cater to this specific demographic, serving a total of 192 families in 2022. This non-profit organization is supported by Hispanic Housing Development Corp., an exempt organization.
Who is the CEO of West Chicago Preservation Corporation?
Hipolito Roldan is the President of West Chicago Preservation Corporation.
What is the revenue of West Chicago Preservation Corporation?
West Chicago Preservation Corporation's revenue in 2022 was $2,484,544.
Who are the executives of West Chicago Preservation Corporation and what are their salaries?
There 2 volunteers at West Chicago Preservation Corporation.
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $410,579
- Other: $64,610
- Compensation: $0
- Related: $218,356
- Other: $48,291
- Compensation: $0
- Related: $167,672
- Other: $28,243
- Compensation: $0
- Related: $113,510
- Other: $32,312
- Compensation: $0
- Related: $155,042
- Other: $28,810
- Compensation: $0
- Related: $137,494
- Other: $17,702
- Compensation: $0
- Related: $114,379
- Other: $26,659
Where can I find the form 990 for West Chicago Preservation Corporation?
West Chicago Preservation Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of West Chicago Preservation Corporation
West Chicago Preservation Corporation, a nonprofit organization, is dedicated to providing safe, decent, and sanitary rental housing for individuals and families who fall within the low and moderate income brackets. The corporation's primary mission is to ensure that these individuals have access to suitable living conditions, promoting their overall well-being and quality of life. In 2022, the corporation successfully served 192 families, demonstrating its commitment to this cause. The sponsor of this project is Hispanic Housing Development Corp., which is an exempt organization, further underscoring the corporation's dedication to assisting those in need.
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Impact
October, 2024
The West Chicago Preservation Corporation significantly enhances the community by providing safe, decent, and sanitary rental housing for low and moderate-income tenants. Operating an apartment complex in West Chicago, Illinois, the organization serves 192 families, ensuring they have a stable place to call home. This support not only addresses housing needs but also contributes to the overall well-being of these families, fostering community stability and improving living conditions. By partnering with the Hispanic Housing Development Corp., the corporation reinforces its commitment to affordable housing, directly impacting the quality of life for residents in the area.
This information is meant to be a general summary of West Chicago Preservation Corporation. 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: $12,752
- Program Service Revenue: $2,470,048
- Gross Receipts: $2,484,544
Assets and Liabilities:
- Total Assets: $9,145,087
- Total Liabilities: $14,516,116
- Net Assets: -$5,371,029
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$2,450,493
LAUNDRY AND VENDING
Revenue
$12,789
TENANT CHARGES
Revenue
$6,766
Organization Details
Founding Year
1993
Phone
(312) 602-6500Principal Officer
Hipolito Roldan
Main Address
325 N WELLS 8TH FLOOR, CHICAGO, IL, 60654
NTEE Category
Code: L800 - Housing
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