Civic Intelligence

Haven Towers Development Corporation

EIN 36-4282964 • 501(c)3 • Chicago, IL

Profile

LOW INCOME HOUSING

566 West Lake StreetChicago, IL 60661

na

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

95th percentile

1.11x

Higher debt load relative to assets than 95% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

95th percentile

5.50x

Higher debt load relative to revenue than 95% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

19th percentile

-11%

Higher net margin than 19% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

25th percentile

-2.6%

Faster asset growth than 25% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2024

Revenue Growth

44th percentile

4.4%

Faster revenue growth than 44% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2024

Assets

Down

$6,007,744

Down $156,798 (-2.5%) from 2023

Liabilities

Down

$6,651,173

Down $25,586 (-0.4%) from 2023

Net Assets

Down

-$643,429

Down $131,212 (-26%) from 2023

Revenue

Up

$1,208,474

Up $71,127 (+6.3%) from 2023

Expenses

Up

$1,339,686

Up $25,946 (+2.0%) from 2023

Net Income

Up

-$131,212

Up $45,181 (+26%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MAssets 2012: $5,787,244Liabilities 2012: $6,665,517Net Assets 2012: -$878,2732012Assets 2013: $6,660,701Liabilities 2013: $6,642,201Net Assets 2013: $18,5002013Assets 2014: $6,656,540Liabilities 2014: $6,637,053Net Assets 2014: $19,4872014Assets 2015: $6,689,940Liabilities 2015: $6,786,244Net Assets 2015: -$96,3042015Assets 2016: $6,640,497Liabilities 2016: $6,711,185Net Assets 2016: -$70,6882016Assets 2017: $6,732,434Liabilities 2017: $6,850,211Net Assets 2017: -$117,7772017Assets 2018: $6,549,290Liabilities 2018: $6,648,214Net Assets 2018: -$98,9242018Assets 2019: $6,522,466Liabilities 2019: $145,979Net Assets 2019: $6,376,4872019Assets 2020: $6,470,800Liabilities 2020: $6,686,682Net Assets 2020: -$215,8822020Assets 2021: $6,430,116Liabilities 2021: $6,655,883Net Assets 2021: -$225,7672021Assets 2022: $6,328,813Liabilities 2022: $6,664,637Net Assets 2022: -$335,8242022Assets 2023: $6,164,542Liabilities 2023: $6,676,759Net Assets 2023: -$512,2172023Assets 2024: $6,007,744Liabilities 2024: $6,651,173Net Assets 2024: -$643,4292024

Highlighted filing

2024

Assets$6,007,744
Liabilities$6,651,173
Net Assets-$643,429

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2012: $1,067,7332012Expenses 2013: $1,016,2262013Revenue 2014: $987,797Expenses 2014: $986,810Net Income 2014: $9872014Revenue 2015: $993,314Expenses 2015: $1,109,105Net Income 2015: -$115,7912015Revenue 2016: $999,302Expenses 2016: $973,686Net Income 2016: $25,6162016Revenue 2017: $997,279Expenses 2017: $1,044,368Net Income 2017: -$47,0892017Revenue 2018: $1,024,031Expenses 2018: $1,005,178Net Income 2018: $18,8532018Revenue 2019: $1,016,050Expenses 2019: $1,131,939Net Income 2019: -$115,8892019Revenue 2020: $1,049,768Expenses 2020: $1,050,837Net Income 2020: -$1,0692020Revenue 2021: $1,103,686Expenses 2021: $1,113,571Net Income 2021: -$9,8852021Revenue 2022: $1,108,596Expenses 2022: $1,199,456Net Income 2022: -$90,8602022Revenue 2023: $1,137,347Expenses 2023: $1,313,740Net Income 2023: -$176,3932023Revenue 2024: $1,208,474Expenses 2024: $1,339,686Net Income 2024: -$131,2122024

Highlighted filing

2024

Revenue$1,208,474
Expenses$1,339,686
Net Income-$131,212

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Apr 28, 2025
Return Version
2023v6.0
Gross Receipts
$1,208,474
Mission and Program Overview

Mission

LOW INCOME HOUSING

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,145,028$4,926,157▼ $218,871
Prepaid Expenses and Deferred Charges$64,074$74,091▲ $10,017
Cash and Non-Interest-Bearing Accounts$40,379$18,718▼ $21,661
Pledges and Grants Receivable$11,724$2,858▼ $8,866
Total Assets$6,164,542$6,007,744▼ $156,798
Other Assets Total$903,337$985,920▲ $82,583
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,591,300$6,591,300→ $0
Accounts Payable and Accrued Expenses$60,992$35,128▼ $25,864
Other Liabilities$23,401$24,063▲ $662
Deferred Revenue$1,066$682▼ $384
Total Liabilities$6,676,759$6,651,173▼ $25,586
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-512,217$-643,429▼ $131,212
Total Net Assets Fund Balance$-512,217$-643,429▼ $131,212
Total Liabilities and Net Assets / Fund Balance$6,164,542$6,007,744▼ $156,798

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,866,857$4,200,287$9,067,144
Land$59,300-$59,300
Other Assets Org$1,280--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Arlisha KennedyPresident
Dr Derrius ColvinDirector
Ann WilliamsSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$830,476
Program Service Revenue
$357,472
Investment Income
$15,974
Other Revenue
$4,552
Change in Net Assets
$-131,212

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,208,474
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,208,474
Total Revenue per Form 990
$1,208,474
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$973,592
Salaries, Compensation, and Employee Benefits$366,094
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$454,329$9,081-$463,410
Other Salaries and Wages$195,343$95,076-$290,419
Depreciation Depletion$233,961--$233,961
Insurance$100,257--$100,257
Office Expenses$650$81,458-$82,108
Fees for Services Management-$71,104-$71,104
Other Employee Benefits$38,722--$38,722
Payroll Taxes$36,953--$36,953
Fees for Services Accounting-$14,648-$14,648
Other Expenses-$6,168-$6,168
Advertising-$1,761-$1,761
Fees for Services Legal-$175-$175
Total Functional Expenses$1,060,215$279,471$0$1,339,686

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,339,686
Total Expenses per Audited Statements$1,339,686
Total Expenses per Form 990$1,339,686
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Deposits$24,063
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The apartment complex is managed by evergreen real estate services inc.

Form 990, Part VI, Section B, Line 11B

The return is made available to directors for review prior to filing.

Form 990, Part VI, Section C, Line 19

The organization provides documents upon request.

Filing and Contact Details

Filer

Filer Name
Haven Towers Development Corporation
EIN
36-4282964
Phone
3122349400
Address
566 WEST LAKE STREET, CHICAGO, IL 60661

Signing Officer

Name
Arlisha Kennedy
Title
President
Phone
3122349400
Signed
2025-04-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Arlisha Kennedy
Formed
2003
Legal Domicile
Il
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Cna Tax Professionals Inc
Address
10475 CROSSPOINT BOULEVARD SUITE, 200, INDIANAPOLIS, IN 46256
Preparer
Shawn D Dreiman CPA
Phone
3178413393
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

In 2009, the corporation adopted the income taxes topic of the fasb accounting standards codification (asc) 740, which provides guidance for how uncertain income tax positions should be recognized, measured, presented and disclosed in the financial statements. The corporation is required to evaluate the income tax positions taken or expected to be taken to determine whether the positions are "more-likely-than-not" to be sustained upon examination by the applicable tax corporation. The corporation has determined that the application of the income tax standard does not impact the operations of the corporation and that no provision for income tax is required in the corporation's financial statements. There has been no interest or penalties recognized in the income statement or balance sheet for the year ended.

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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01100469
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01019571
IRS990ScheduleA/Total509Grp/TotalAmt05537031
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01208474
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01137347
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01108596
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01103686
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01049768
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt05607871
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt04866857
IRS990ScheduleD/BuildingsGrp/DepreciationAmt04200287
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt09067144
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01339686
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt059300
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt059300
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt027716
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt127792
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2929132
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt31280
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ESCROW DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3RESIDUAL RECEIPTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt024063
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01208474
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0IN 2009, THE CORPORATION ADOPTED THE INCOME TAXES TOPIC OF THE FASB ACCOUNTING STANDARDS CODIFICATION (ASC) 740, WHICH PROVIDES GUIDANCE FOR HOW UNCERTAIN INCOME TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, PRESENTED AND DISCLOSED IN THE FINANCIAL STATEMENTS. THE CORPORATION IS REQUIRED TO EVALUATE THE INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN TO DETERMINE WHETHER THE POSITIONS ARE "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED UPON EXAMINATION BY THE APPLICABLE TAX CORPORATION. THE CORPORATION HAS DETERMINED THAT THE APPLICATION OF THE INCOME TAX STANDARD DOES NOT IMPACT THE OPERATIONS OF THE CORPORATION AND THAT NO PROVISION FOR INCOME TAX IS REQUIRED IN THE CORPORATION'S FINANCIAL STATEMENTS. THERE HAS BEEN NO INTEREST OR PENALTIES RECOGNIZED IN THE INCOME STATEMENT OR BALANCE SHEET FOR THE YEAR ENDED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04926157
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0985920
IRS990ScheduleD/TotalExpensesPerForm990Amt01339686
IRS990ScheduleD/TotalLiabilityAmt024063
IRS990ScheduleD/TotalRevenuePerForm990Amt01208474
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01208474
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01339686
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE APARTMENT COMPLEX IS MANAGED BY EVERGREEN REAL ESTATE SERVICES INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE RETURN IS MADE AVAILABLE TO DIRECTORS FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION PROVIDES DOCUMENTS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IL
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxableDistributionsInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt06164542
IRS990/TotalAssetsEOYAmt06007744
IRS990/TotalAssetsGrp/BOYAmt06164542
IRS990/TotalAssetsGrp/EOYAmt06007744
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0830476
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0279471
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01060215
IRS990/TotalFunctionalExpensesGrp/TotalAmt01339686
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06676759
IRS990/TotalLiabilitiesEOYAmt06651173
IRS990/TotalLiabilitiesGrp/BOYAmt06676759
IRS990/TotalLiabilitiesGrp/EOYAmt06651173
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-512217
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-643429
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01060215
IRS990/TotalProgramServiceRevenueAmt0357472
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt020526
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0357472
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01208474
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06164542
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06007744
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0566 WEST LAKE STREET
IRS990/USAddress/CityNm0CHICAGO
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060661
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0NA
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ARLISHA KENNEDY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03122349400
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HAVEN TOWERS DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0HAVE
ReturnHeader/Filer/EIN0364282964
ReturnHeader/Filer/PhoneNum03122349400
ReturnHeader/Filer/USAddress/AddressLine1Txt0566 WEST LAKE STREET
ReturnHeader/Filer/USAddress/CityNm0CHICAGO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060661
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0352102008
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CNA TAX PROFESSIONALS INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010475 CROSSPOINT BOULEVARD SUITE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine2Txt0200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0INDIANAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd046256
ReturnHeader/PreparerPersonGrp/PhoneNum03178413393
ReturnHeader/PreparerPersonGrp/PreparationDt02025-04-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHAWN D DREIMAN CPA
ReturnHeader/ReturnTs02025-05-12T13:43:35-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01

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