Community Economics Redevelopment Corporation Of Wisconsin in Highland Park, Illinois (IL)

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Community Economics Redevelopment Corporation Of Wisconsin
Employer Identification Number (EIN)391856083
Name of OrganizationCommunity Economics Redevelopment Corporation Of Wisconsin
In Care of NameScott Canel
Address1949 St Johns Ave Ste 200, Highland Park, IL 60035-3105
ActivitiesDescribed in section 509(a)(2) of the Code, Low and moderate income housing
SubsectionCharitable Organization
Ruling Date10/1996
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$1,000,000 to $4,999,999
Income$500,000 to $999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$1,970,700
Amount of Income$619,493
Form 990 Revenue Amount$619,493
National Taxonomy of Exempt Entities (NTEE)Housing, Shelter: Public Housing Facilities


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Amount of income in 2013: $619,493
This organization: 

 $619,493
Other organizations performing similar types of work: 

 $830,011

Assets in 2013: $1,970,700
Community Economics Redevelopment Corporation Of Wisconsin: 

 $1,970,700
Other organizations performing similar types of work: 

 $2,556,923

Expenses in 2012: $671,197
Community Economics Redevelopment Corporation Of Wisconsin: 

 $671,197
Other organizations performing similar types of work: 

 $814,088

Income to expenses ratio in 2012: 0.9
This organization: 

 0.9
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2007: 100.0%
This organization: 

 100.0%
Other organizations performing similar types of work: 

 91.0%

Grants share in income in 2012: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 0.2%

Financial snapshot ($)

Revenue for 2012

Functional expenses for 2012

Support schedule

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$655,550
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$655,299
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$251
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2012)
Total functional expenses$671,197
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$118,708
Payroll taxes$25,701
Professional fundraising services$0
Other$526,788
Balance Sheet (for 2012)
Total assets$2,009,988
Total liabilities$62,899
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$62,899
Total net assets or fund balances$1,947,089
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Support Schedule for Organizations Described in Section 509(a)(2) (for 2012)
2008 - 2012 Total
Total support$3,395,725
Gifts, grants, contributions, and membership fees received$0
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$3,382,345
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources and Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$13,380
Revenue, Expenses, and Changes in Net Assets or Fund Balances
2000200120022003200420052007
Total revenue$561,017$601,521$620,624$633,782$632,209$675,797$770,822
Contributions, gifts, grants, and similar amounts received$0$0$0$0$0$0$61,226
Contributions to donor advised funds$0
Direct public support$0$0$0$0$0$0$61,226
Indirect public support$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$561,017$585,644$613,416$631,524$628,475$670,203$702,574
Membership dues and assessments$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$0$15,877$7,208$2,258$3,734$5,594$7,022
Dividends and interest from securities$0$0$0$0$0$0$0
Net rental income or (loss)$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$0$0$0$0$0$0$0
Gross amount from sales of assets other than inventory$0$0$0$0$0$0$0
Less: cost or other basis and sales expenses$0$0$0$0$0$0$0
Net income or (loss) from special events and activities$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0
Total expenses$465,209$585,503$753,177$647,803$757,106$671,026$643,699
Program services$465,209$585,503$712,621$647,803$757,106$671,026$643,699
Management and general$0$0$40,556$0$0$0$0
Fundraising$0$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0$0
Net assets or fund balances at end of year$1,933,166$1,949,184$1,816,631$1,802,610$1,677,713$1,682,484$1,846,063
Excess or (deficit) for the year$95,808$16,018$-132,553$-14,021$-124,897$4,771$127,123
Net assets or fund balances at beginning of year$1,837,358$1,933,166$1,949,184$1,816,631$1,802,610$1,677,713$1,718,940
Other changes in net assets or fund balances$0$0$0$0$0$0$0
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$643,699$643,699$0$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$109,719$109,719$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$6,520$6,520$0$0
Payroll taxes$15,916$15,916$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$21,000$21,000$0$0
Legal fees$2,067$2,067$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$98,629$98,629$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$38,839$38,839$0$0
Depreciation, depletion, etc.$148,816$148,816$0$0
Other expenses not covered above$202,193$202,193$0$0
Balance Sheets
2000200120022003200420052007
Total assets$2,997,792$2,927,517$2,776,293$2,693,981$2,491,876$2,398,234$2,439,002
Cash - non-interest-bearing$63,356$113,113$45,659$4,498$57,878$68,451$166,158
Savings and temporary cash investments$0$0$0$0$0$0$61,226
Accounts receivable less allowance for doubtful accounts$51,812$19,379$8,318$6,068$14,515$14,903$17,426
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$4,353$3,707$3,441$33,929$34,944$45,793$2,066
Investments - publicly-traded securities$0
Investments - other securities$0$0$0$0$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$2,437,793$2,337,762$2,329,226$2,247,416$2,059,014$1,917,144$1,639,280
Other assets, including program-related investments$440,478$453,556$389,649$402,070$325,525$351,943$552,846
Total liabilities$1,064,626$978,333$959,662$891,371$814,163$715,750$592,939
Accounts payable and accrued expenses$37,305$15,307$51,966$36,134$45,184$20,710$23,814
Grants payable$0$0$0$0$0$0$0
Deferred revenue$9,287$1,465$2,638$11,690$944$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0
Mortgages and other notes payable$1,002,007$946,172$886,301$822,101$753,261$679,445$515,458
Other liabilities$16,027$15,389$18,757$21,446$14,774$15,595$53,667
Total liabilities and net assets/fund balances$2,997,792$2,927,517$2,776,293$2,693,981$2,491,876$2,398,234$2,439,002
Total net assets or fund balances$1,933,166$1,949,184$1,816,631$1,802,610$1,677,713$1,682,484$1,846,063
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2000200120022003200420052007
Total revenue$561,017$601,521$620,624$633,782$632,209$675,797$770,822
Total revenue, gains, and other support per audited financial statements$561,017$601,521$620,624$633,782$632,209$675,797$770,822
Other expenses$0$0$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2000200120022003200420052007
Total expenses$465,209$585,503$753,177$647,803$757,106$671,026$643,699
Total expenses and losses per audited financial statements$465,209$585,503$753,177$647,803$757,106$671,026$643,699
Other revenue$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings4
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?No
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$0$709,596
Program service revenue
Program service revenue 1000000$000$0$702,574
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$7,022
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that normally receives: less than 1/3 of its support from gross investment income and unrelated taxable business income and more than 1/3 of its support from contribution, membership fees
Support Schedule
1999200020012002200320042006
Total$541,349$561,017$601,521$620,624$633,782$632,209$678,801
Gifts, grants, and contributions received$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$526,171$531,951$577,526$591,652$606,994$628,475$672,926
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$10,201$14,933$15,407$7,208$2,258$3,734$5,875
Net income from unrelated business activities not included above$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0
Other income$4,977$14,133$8,588$21,764$24,530$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Affordable Housing Preservation Foundation2850 S Michigan Ave, Chicago, IL 60616-3230IL1989-06$8,063,969
2Assisi Homes-Batavia Apartments IncPO BOX 667, Wheaton, IL 60187-0667IL1946-03$3,153,896
3Independent Order Of Odd Fellow Odd Fellow-Rebekah Housing Inc, Odd Fellow-Rebekah Housing Inc845 Wyatt Ave, Lincoln, IL 62656IL1962-05$2,705,214
4United Auto Workers Senior Citizens Center Inc444 Parkway Drive, Pekin, IL 61554-5204IL1983-09$2,655,655
5Assisi Homes-Jefferson Court IncPO BOX 667, Wheaton, IL 60187-0667IL1946-03$2,393,415
6Nhs Redevelopment Corporation1279 N Milwaukee Avenue 4th Floor, Chicago, IL 60622-9360IL1980-07$2,130,277
7Rockford Housing Development Corporation, Concord Commons223 S Winnebago No 170, Rockford, IL 61102-2259IL1983-07$2,087,041
8Tabernacle Senior Citizens Project, Willa Rawls Manor4120 S Indiana Ave, Chicago, IL 60653-2131IL1979-10$2,050,164
9Clare Gardens IncPO BOX 667, Wheaton, IL 60187-0667IL1946-03$1,876,439
10Gideon Court Inc5000 N Elston Ave 200, Chicago, IL 60630-1738IL1946-03$1,857,525
11St Marks Towers IncOne Towers Plaza, Brunswick, GA 31520-4461GA1979-12$1,569,853
12Woodstock Manor Housing Development Fund Corporation755 Palisade Avenue, Yonkers, NY 10703-1800NY1985-01$8,184,759
13Tg 110 Inc8610 N New Braunfels Ave Ste 500, San Antonio, TX 78217-6397TX2002-11$3,238,697
14Progressive Baptist Church Housing Foundation Inc, T E Brown Apartments3601 South Wells, Chicago, IL 60609-1867IL1979-08$1,957,825
15St George Tower Ltd2160 E Maple Rd, Troy, MI 48083-4400MI1979-02$1,701,039
16Sebco Housing Development Fund, Ian Resnick - Controller885 Bruckner Blvd, Bronx, NY 10459-5201NY1983-11$1,427,261
17Saratoga County Rural Preservation Company IncCompany Inc 1214 Saratoga Rd Rt 50, Ballston Spa, NY 12020NY1983-08$1,310,983
18Rio Concho Manor Inc401 Rio Concho Drive, San Angelo, TX 76903-5505TX1988-10$1,251,522
19Two Hundred Seventy-Two To Two Hundred Eighty Linwood Avenue Inc276 Linwood Ave, Buffalo, NY 14209-1838NY1976-02$1,111,823
20South Atlantic Housing Of Brevard IncPO BOX 450049, Atlanta, GA 31145-0049GA1984-11$1,071,764
Number of organizations performing similar types of work
Alaska2
Alabama6
Arkansas3
Arizona12
California98
Colorado15
Connecticut8
District of Columbia5
Delaware2
Florida33
Georgia20
Hawaii13
Iowa10
Idaho3
Illinois33
Indiana7
Kansas4
Kentucky4
Louisiana12
Massachusetts22
Maryland8
Maine7
Michigan22
Minnesota19
Missouri16
Mississippi5
Montana3
North Carolina12
North Dakota2
Nebraska3
New Hampshire1
New Jersey23
New Mexico6
Nevada1
New York76
Ohio46
Oklahoma2
Oregon9
Pennsylvania46
Rhode Island4
South Carolina4
South Dakota4
Tennessee10
Texas36
Utah1
Virginia26
Vermont5
Washington11
Wisconsin12
West Virginia1
Wyoming1
International3
Total737

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