Civic Intelligence

Chestnut Resolutions Inc Nfp

EIN 42-1692441 • 501(c)3 • Bloomington, IL

Profile

To provide seven low-income housing units for persons with disabilities and their families

1003 Martin Luther King DriveBloomington, IL 61701

n/A

Siviq Scores

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

Liabilities / Assets

97th percentile

2.03x

Higher debt load relative to assets than 97% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

99th percentile

13.69x

Higher debt load relative to revenue than 99% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

10th percentile

-35%

Higher net margin than 10% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

99th percentile

$392,132

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 388.2% of source-year revenue.

501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

36th percentile

-1.6%

Faster asset growth than 36% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

29th percentile

-5.2%

Faster revenue growth than 29% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Assets

Down

$644,420

Down $10,207 (-1.6%) from 2022

Liabilities

Up

$1,310,827

Up $22,994 (+1.8%) from 2022

Net Assets

Down

-$666,407

Down $33,201 (-5.2%) from 2022

Revenue

Down

$95,741

Down $5,271 (-5.2%) from 2022

Expenses

Down

$128,942

Down $5,990 (-4.4%) from 2022

Net Income

Up

-$33,201

Up $719 (+2.1%) from 2022

Trend Graphs

Balance Sheet Trend

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

$1.5M$1.0M$500K$0-$500K-$1.0MAssets 2011: $1,092,615Liabilities 2011: $1,300,670Net Assets 2011: -$208,0552011Assets 2012: $1,051,838Liabilities 2012: $1,304,430Net Assets 2012: -$252,5922012Assets 2013: $1,007,208Liabilities 2013: $1,302,259Net Assets 2013: -$295,0512013Assets 2014: $979,857Liabilities 2014: $1,314,226Net Assets 2014: -$334,3692014Assets 2015: $944,003Liabilities 2015: $1,312,472Net Assets 2015: -$368,4692015Assets 2016: $908,049Liabilities 2016: $1,306,913Net Assets 2016: -$398,8642016Assets 2017: $883,442Liabilities 2017: $1,312,622Net Assets 2017: -$429,1802017Assets 2018: $830,307Liabilities 2018: $1,308,187Net Assets 2018: -$477,8802018Assets 2019: $783,047Liabilities 2019: $1,317,153Net Assets 2019: -$534,1062019Assets 2020: $738,715Liabilities 2020: $1,305,497Net Assets 2020: -$566,7822020Assets 2021: $673,896Liabilities 2021: $1,273,182Net Assets 2021: -$599,2862021Assets 2022: $654,627Liabilities 2022: $1,287,833Net Assets 2022: -$633,2062022Assets 2023: $644,420Liabilities 2023: $1,310,827Net Assets 2023: -$666,4072023

Highlighted filing

2023

Assets$644,420
Liabilities$1,310,827
Net Assets-$666,407

Operations Trend

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

$200K$100K$0-$100KRevenue 2011: $55,007Expenses 2011: $99,331Net Income 2011: -$44,3242011Revenue 2012: $86,304Expenses 2012: $130,841Net Income 2012: -$44,5372012Revenue 2013: $91,277Expenses 2013: $133,736Net Income 2013: -$42,4592013Revenue 2014: $90,739Expenses 2014: $130,057Net Income 2014: -$39,3182014Revenue 2015: $99,625Expenses 2015: $133,725Net Income 2015: -$34,1002015Revenue 2016: $117,850Expenses 2016: $148,245Net Income 2016: -$30,3952016Revenue 2017: $98,457Expenses 2017: $128,773Net Income 2017: -$30,3162017Revenue 2018: $90,414Expenses 2018: $139,114Net Income 2018: -$48,7002018Revenue 2019: $89,151Expenses 2019: $145,377Net Income 2019: -$56,2262019Revenue 2020: $94,832Expenses 2020: $127,508Net Income 2020: -$32,6762020Revenue 2021: $98,392Expenses 2021: $130,896Net Income 2021: -$32,5042021Revenue 2022: $101,012Expenses 2022: $134,932Net Income 2022: -$33,9202022Revenue 2023: $95,741Expenses 2023: $128,942Net Income 2023: -$33,2012023

Highlighted filing

2023

Revenue$95,741
Expenses$128,942
Net Income-$33,201

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$0.64$1.31$0.67$0.10$0.13$0.03
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.65$1.29$0.63$0.10$0.13$0.03
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.67$1.27$0.60$0.10$0.13$0.03
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.74$1.31$0.57$0.09$0.13$0.03
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.78$1.32$0.53$0.09$0.15$0.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.83$1.31$0.48$0.09$0.14$0.05
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.88$1.31$0.43$0.10$0.13$0.03
2016Summary only. Only limited summary data is available for this year.$0.91$1.31$0.40$0.12$0.15$0.03
2015Summary only. Only limited summary data is available for this year.$0.94$1.31$0.37$0.10$0.13$0.03
2014Summary only. Only limited summary data is available for this year.$0.98$1.31$0.33$0.09$0.13$0.04
2013Summary only. Only limited summary data is available for this year.$1.01$1.30$0.30$0.09$0.13$0.04
2012Summary only. Only limited summary data is available for this year.$1.05$1.30$0.25$0.09$0.13$0.04
2011Summary only. Only limited summary data is available for this year.$1.09$1.30$0.21$0.06$0.10$0.04
Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Feb 20, 2023
Return Version
2021v4.2
Gross Receipts
$101,012
Mission and Program Overview

Mission

To provide affordable housing to low income individuals with disabilities and their families.

To provide seven low-income housing units for persons with disabilities and their families

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$554,006$514,478▼ $39,528
Accounts Receivable$1,573$17,240▲ $15,667
Cash and Non-Interest-Bearing Accounts$13,698$14,524▲ $826
Total Assets$673,896$654,627▼ $19,269
Other Assets Total$104,619$108,385▲ $3,766
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,246,392$1,247,627▲ $1,235
Accounts Payable and Accrued Expenses$24,588$38,271▲ $13,683
Other Liabilities$2,202$1,935▼ $267
Total Liabilities$1,273,182$1,287,833▲ $14,651
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-599,286$-633,206▼ $33,920
Total Net Assets Fund Balance$-599,286$-633,206▼ $33,920
Total Liabilities and Net Assets / Fund Balance$673,896$654,627▼ $19,269

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$455,850$543,638$999,488
Other Land Buildings$28,628$110,425$139,053
Equipment$0$45,667$45,667
Land$30,000-$30,000
Other Assets Org$10,007--
Compensation and Service Providers

Board Members and Trustees

NameTitle
David a ShararChair of Board
Vic Armstrong JrDirector
Orville MercerSecretary
Puneet LeekhaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$68,329
Program Service Revenue
$32,661
Investment Income
$22
Other Revenue
$0
Change in Net Assets
$-33,920

Audited Revenue Reconciliation

Revenue per Audited Statements
$101,012
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$101,012
Total Revenue per Form 990
$101,012
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$123,972
Salaries, Compensation, and Employee Benefits$10,960
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$39,528--$39,528
Occupancy$18,783--$18,783
Fees for Services Accounting-$12,841-$12,841
Other Salaries and Wages-$10,960-$10,960
Office Expenses-$5,719-$5,719
Insurance$5,667--$5,667
Fees for Services Management-$5,292-$5,292
Interest$1,235--$1,235
Other Expenses$34,510$362-$362
Conferences and Meetings-$35-$35
Total Functional Expenses$99,723$35,209$0$134,932

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$134,932
Total Expenses per Audited Statements$134,932
Total Expenses per Form 990$134,932
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 Security Deposits$1,935
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

The organization has an annual board meeting. Contemporaneous minutes of the annual meeting are maintained by the organization. The organization has no committees.

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

The organization does not have any employees. Services are rendered by a related organization, chestnut health systems inc. Which has a written conflict of interest policy which requires annual disclosure of any relationships that could give rise to conflicts, a whistleblower policy in connection with all employees and a formal document retention and destruction policy.

Form 990, Part VI, Section C, Line 19

The organization makes these documents available upon request at its office during normal business hours.

FORM 990, PART VI, LINE 13:

Chestnut maintains a corporate compliance policy to encourage staff to report instances of misconduct without the threat of retaliation. Chestnut takes seriously any alleged or actual misconduct and has developed measures to encourage ethical conduct while discouraging retaliation for reporting of unethical conduct. Chestnut staff should report any misconduct as outlined in the chestnut corporate compliance policy. Chestnut staff must comply with state and federal law and professional codes of ethics in reporting breaches of professional conduct or professional impairment that are revealed within the training environment.

FORM 990, PART VI, LINE 14:

Every chestnut staff person is responsible for the integrity and accuracy of chestnut's documents and records, not only to comply with all applicable legal and regulatory requirements, but also to insure that records are available to defend chestnut's business practices or other actions. No staff person may falsify information on any record or document. No staff person may destroy any records or documents except in accordance with chestnut's record retention policy. The client and business records of chestnut are retained in accordance with applicable law and the chestnut record retention policy. Client records and business documents include paper and electronic documents such as letters and memos, computer based information such as email or computer files stored on servers, disk or tape, and any other medium that contains information about chestnut or its business activities. Staff must retain and destroy records appropriately according to chestnut's policy. Staff must not tamper with records, nor remove or destroy them prior to the specified date.

Filing and Contact Details

Filer

Filer Name
Chestnut Resolutions Inc Nfp
EIN
42-1692441
Phone
3098276026
Address
1003 MARTIN LUTHER KING DRIVE, BLOOMINGTON, IL 61701

Signing Officer

Name
David a Sharar
Title
CEO
Phone
3098276026
Signed
2023-02-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David a Sharar
Formed
2006
Legal Domicile
Il
Voting Board Members
4
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
Cliftonlarsonallen Llp
Address
301 SW ADAMS STREET SUITE 1000, PEORIA, IL 61602
Preparer
Samuel a Cigelnik
Phone
3096714500
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The process has not changed from prior year.

Financial Statement Notes

PART X, LINE 2:

Chestnut resolutions, inc. Nfp is exempt from income taxes under section 501(c)(3) of the internal revenue code and did not have any unrelated business income for the year ended june 30, 2022. Accordingly, no provision for income taxes has been included in the accompanying financial statements.

Raw XML AppendixShowing 400 of 516 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt259550
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt39651
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt410007
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ESCROW DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2RESERVE FOR REPLACEMENTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3OTHER RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4RESIDUAL RESERVES
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CHESTNUT RESOLUTIONS, INC. NFP IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEAR ENDED JUNE 30, 2022. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2ORVILLE MERCER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CHAIR OF BOARD
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2SECRETARY
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IRS990ScheduleJ/SeverancePaymentInd00
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS AN ANNUAL BOARD MEETING. CONTEMPORANEOUS MINUTES OF THE ANNUAL MEETING ARE MAINTAINED BY THE ORGANIZATION. THE ORGANIZATION HAS NO COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT HAVE ANY EMPLOYEES. SERVICES ARE RENDERED BY A RELATED ORGANIZATION, CHESTNUT HEALTH SYSTEMS INC. WHICH HAS A WRITTEN CONFLICT OF INTEREST POLICY WHICH REQUIRES ANNUAL DISCLOSURE OF ANY RELATIONSHIPS THAT COULD GIVE RISE TO CONFLICTS, A WHISTLEBLOWER POLICY IN CONNECTION WITH ALL EMPLOYEES AND A FORMAL DOCUMENT RETENTION AND DESTRUCTION POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES THESE DOCUMENTS AVAILABLE UPON REQUEST AT ITS OFFICE DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CHESTNUT MAINTAINS A CORPORATE COMPLIANCE POLICY TO ENCOURAGE STAFF TO REPORT INSTANCES OF MISCONDUCT WITHOUT THE THREAT OF RETALIATION. CHESTNUT TAKES SERIOUSLY ANY ALLEGED OR ACTUAL MISCONDUCT AND HAS DEVELOPED MEASURES TO ENCOURAGE ETHICAL CONDUCT WHILE DISCOURAGING RETALIATION FOR REPORTING OF UNETHICAL CONDUCT. CHESTNUT STAFF SHOULD REPORT ANY MISCONDUCT AS OUTLINED IN THE CHESTNUT CORPORATE COMPLIANCE POLICY. CHESTNUT STAFF MUST COMPLY WITH STATE AND FEDERAL LAW AND PROFESSIONAL CODES OF ETHICS IN REPORTING BREACHES OF PROFESSIONAL CONDUCT OR PROFESSIONAL IMPAIRMENT THAT ARE REVEALED WITHIN THE TRAINING ENVIRONMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5EVERY CHESTNUT STAFF PERSON IS RESPONSIBLE FOR THE INTEGRITY AND ACCURACY OF CHESTNUT'S DOCUMENTS AND RECORDS, NOT ONLY TO COMPLY WITH ALL APPLICABLE LEGAL AND REGULATORY REQUIREMENTS, BUT ALSO TO INSURE THAT RECORDS ARE AVAILABLE TO DEFEND CHESTNUT'S BUSINESS PRACTICES OR OTHER ACTIONS. NO STAFF PERSON MAY FALSIFY INFORMATION ON ANY RECORD OR DOCUMENT. NO STAFF PERSON MAY DESTROY ANY RECORDS OR DOCUMENTS EXCEPT IN ACCORDANCE WITH CHESTNUT'S RECORD RETENTION POLICY. THE CLIENT AND BUSINESS RECORDS OF CHESTNUT ARE RETAINED IN ACCORDANCE WITH APPLICABLE LAW AND THE CHESTNUT RECORD RETENTION POLICY. CLIENT RECORDS AND BUSINESS DOCUMENTS INCLUDE PAPER AND ELECTRONIC DOCUMENTS SUCH AS LETTERS AND MEMOS, COMPUTER BASED INFORMATION SUCH AS EMAIL OR COMPUTER FILES STORED ON SERVERS, DISK OR TAPE, AND ANY OTHER MEDIUM THAT CONTAINS INFORMATION ABOUT CHESTNUT OR ITS BUSINESS ACTIVITIES. STAFF MUST RETAIN AND DESTROY RECORDS APPROPRIATELY ACCORDING TO CHESTNUT'S POLICY. STAFF MUST NOT TAMPER WITH RECORDS, NOR REMOVE OR DESTROY THEM PRIOR TO THE SPECIFIED DATE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2C:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, LINE 13:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, LINE 14:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd01
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0370964629
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0IL

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