Overview
What is Greater Chatham Initiative?
Greater Chatham Initiative (GCI) is a collaborative effort between local and regional stakeholders, established to enhance the prosperity of four Chicago South-Side communities: Chatham, Auburn Gresham, Grand Crossing, and Avalon Park. Their primary goal is to promote these neighborhoods as desirable living spaces and opportunities hubs. GCI's significant achievements in the housing sector include reducing vacancy rates and securing housing improvement grants for residents, in addition to assisting families with legal documents and conducting community cleanups. Their holistic approach extends to workforce development, business growth, and public safety strategies, aimed at ensuring these areas remain thriving communities. During pre-pandemic times, GCI organized home buyer tours and other initiatives to boost the neighborhood's appeal, leading to modest growth and increased homeownership rates. Despite a substantial increase in median housing sales prices, Chatham continues to be one of the few Black neighborhoods experiencing population growth.
Official website here: www.greaterchathaminitiative.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95% (Four-Star out of Four Stars)
The Greater Chatham Initiative has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in Accountability and Finance. This high score indicates that the organization adheres to rigorous standards in financial management and transparency, which is crucial for donor trust and effective use of resources.
Strengths of the organization include a fully independent board with twelve members, exceptional oversight in its financial statements, and a high program expense ratio, signifying that a significant portion of its budget is directed towards its mission-driven activities. The organization also demonstrates financial stability with a low liabilities-to-assets ratio and high fundraising efficiency, which indicates effective resource management.
However, a notable limitation is the absence of a whistleblower policy, which could be a critical component in ensuring accountability and safeguarding against potential misconduct. Despite this oversight, the overall financial health and governance practices of the Greater Chatham Initiative are commendable and position it as a reliable nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Greater Chatham Initiative legitimate?
Greater Chatham Initiative is a legitimate nonprofit organization registered as a 501(c)(3) entity. Greater Chatham Initiative 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: $111,915
Professional Fundraising Fees: $0
Other Salaries and Wages: $536,079
For more financial information, click here
Official website here: www.greaterchathaminitiative.org/
What is the mission statement of Greater Chatham Initiative?
The Greater Chatham Initiative, shortened as GCI, is a collaboration between local and regional stakeholders with the objective of developing comprehensive activities and enterprises tailored to support the South-Side Chicago communities of Chatham, Auburn Gresham, Grand Crossing, and Avalon. Their mission is to help these neighborhoods continue to thrive as desirable places to live and offer opportunities. A significant focus of GCI is housing development, involving both attracting new and retaining existing renters and homeowners. They have successfully reduced vacancy rates and secured grants for housing improvements. Additionally, GCI has conducted summer home buyer tours, organized community events, and provided information about the area's excellent schools, contributing to the neighborhood's modest growth and population increase.
Official website here: www.greaterchathaminitiative.org/
Who is the CEO of Greater Chatham Initiative?
Nedra Sims Fears is the Executive Dir. of Greater Chatham Initiative.
Official website here: www.greaterchathaminitiative.org/
What is the revenue of Greater Chatham Initiative?
Greater Chatham Initiative's revenue in 2022 was $2,522,790.
Official website here: www.greaterchathaminitiative.org/
Who are the executives of Greater Chatham Initiative and what are their salaries?
The average compensation at Greater Chatham Initiative during 2022 was $92,571. There are 7 employees and 47 volunteers at Greater Chatham Initiative.
Here are 13 key members and their salaries:
- Compensation: $111,915
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Official website here: www.greaterchathaminitiative.org/
Where can I find the form 990 for Greater Chatham Initiative?
Greater Chatham Initiative's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.greaterchathaminitiative.org/
Learn more at the official website: www.greaterchathaminitiative.org/
Mission Statement of Greater Chatham Initiative
Greater Chatham Initiative, a collaboration among local and regional stakeholders, aims to develop a comprehensive set of activities and enterprises tailored to support the Chicago South-side communities of Chatham, Auburn Gresham, Grand Crossing, and Avalon Park. The primary goal of this nonprofit is to help these neighborhoods continue to thrive as desirable places to live and offer opportunities.
One of the key areas where Greater Chatham Initiative focuses its efforts is housing development. The organization works to attract new residents and retain existing ones, both renters and homeowners, in the target neighborhoods. Through partnerships and programs, Greater Chatham Initiative has successfully reduced vacancy rates and secured funding for housing improvements. The nonprofit has gained valuable insights into the factors contributing to vacancies and the effective solutions to address them.
Beyond housing, Greater Chatham Initiative engages in various tactical activities to promote the neighborhoods. Prior to the pandemic, the organization organized home buyer tours and events like Dining on the 5, 75th Street Boardwalk to encourage visitors and raise awareness of the area's assets. Greater Chatham Initiative also published booklets highlighting the excellence of local public and charter schools. These multi-faceted efforts have contributed to modest growth in the area, with Chatham being one of the few Black neighborhoods experiencing population growth and an increase in homeownership rates.
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Impact
July, 2024
The Greater Chatham Initiative has made a significant impact in the Chicago African-American neighborhoods of Avalon Park, Auburn Gresham, Chatham, and Greater Grand Crossing. By implementing integrated housing, workforce, business development, and public safety strategies, they have helped these neighborhoods become places of choice and opportunity.
Specifically, the Greater Chatham Initiative has focused on housing development as a key goal, both attracting new residents and retaining existing ones. They have been a Community Partner for the City of Chicago Micro Market Recovery Program, successfully reducing the vacancy rate in their designated area and assisting residents in securing housing improvement grants. Additionally, they have helped families with legal matters such as obtaining wills and transfer on death instruments.
Through initiatives like summer home buyer tours and tactical activation activities, the Greater Chatham Initiative has worked to showcase the strengths of the neighborhoods and attract new residents. Their efforts have paid off, as Chatham has experienced modest growth without undergoing gentrification. This is evidenced by an increase in population and homeownership rate, as well as a substantial rise in median housing sales prices.
Overall, the Greater Chatham Initiative's collaborative approach and tailored activities have had a positive impact on the communities they serve, contributing to the improvement and growth of the Chicago South-Side neighborhoods.
This information is meant to be a general summary of Greater Chatham Initiative. 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.
- Program Service Revenue: $56,557
- Gross Receipts: $2,522,790
Assets and Liabilities:
- Total Assets: $1,507,603
- Total Liabilities: $244,788
- Net Assets: $1,262,815
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Fee for Service
Revenue
$56,557
Organization Details
Founding Year
2016
Phone
(773) 644-1451Principal Officer
Nedra Sims Fears
Main Address
640 E 79th St Chicago, CHICAGO, IL, 60619
NTEE Category
Code: S00 - Community improvement
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