Civic Intelligence

Emerald South Economic Development Collaborative

990 • Fiscal year 2021 • EIN 83-1478837

Jan 01, 2021 to Dec 31, 2021 • Filed on Jul 18, 2022

Organization ProfileEMERALDSOUTH.ORG

View Organization Page

4729 S Drexel BlvdChicago, IL 60615-1701

(773) 436-1000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

82nd percentile

0.46x

Higher debt load relative to assets than 82% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

68th percentile

0.24x

Higher debt load relative to revenue than 68% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

25th percentile

-0.2%

Higher net margin than 25% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

85th percentile

$155,769

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 6.9% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

91st percentile

77%

Faster asset growth than 91% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

93rd percentile

188%

Faster revenue growth than 93% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Up

$1,198,764

Up $521,502 (+77%) from 2020

Net Assets

Down

$645,340

Down $24,922 (-3.7%) from 2020

Liabilities

Up

$553,424

Up $546,424 (+7806%) from 2020

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin25th percentile

Revenue

Up

$2,272,249

Up $1,482,216 (+188%) from 2020

Expenses

Up

$2,277,914

Up $1,470,612 (+182%) from 2020

Net Income

Up

-$5,665

Up $11,604 (+67%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2018: $332,106Liabilities 2018: $0Net Assets 2018: $332,1062018Assets 2019: $767,994Liabilities 2019: $117,270Net Assets 2019: $650,7242019Assets 2020: $677,262Liabilities 2020: $7,000Net Assets 2020: $670,2622020Assets 2021: $1,198,764Liabilities 2021: $553,424Net Assets 2021: $645,3402021Assets 2022: $2,699,120Liabilities 2022: $117,368Net Assets 2022: $2,581,7522022Assets 2023: $2,986,656Liabilities 2023: $29,093Net Assets 2023: $2,957,5632023Assets 2024: $1,008,737Liabilities 2024: $32,807Net Assets 2024: $975,9302024

Highlighted filing

2021

Assets$1,198,764
Liabilities$553,424
Net Assets$645,340
Open 2021 Filing

Operations Trend

Revenue Growth93rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2018: $350,106Expenses 2018: $18,000Net Income 2018: $332,1062018Revenue 2019: $675,077Expenses 2019: $356,459Net Income 2019: $318,6182019Revenue 2020: $790,033Expenses 2020: $807,302Net Income 2020: -$17,2692020Revenue 2021: $2,272,249Expenses 2021: $2,277,914Net Income 2021: -$5,6652021Revenue 2022: $5,111,552Expenses 2022: $3,175,140Net Income 2022: $1,936,4122022Revenue 2023: $3,207,639Expenses 2023: $2,631,828Net Income 2023: $575,8112023Revenue 2024: $814,915Expenses 2024: $2,610,753Net Income 2024: -$1,795,8382024

Highlighted filing

2021

Revenue$2,272,249
Expenses$2,277,914
Net Income-$5,665
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jul 18, 2022
Return Version
2021v4.2
Gross Receipts
$2,272,249
Mission and Program Overview

Mission

TO ENSURE THAT ACCESS AND OPPORTUNITIES ARE SHARED TO BENEFIT RESIDENTs AND BUSINESS OWNERS OF CHICAGOS SOUTHSIDE. WE AIM TO FOSTER GROWTH OF LOCAL BUSINESSES AND LEADERS, ATTRACT NEW INVESTMENT, DEVELOP OUR LOCAL LABOR WORKFORCE AND SUPPORT INCLUSIVE HOUSING

TO ENSURE THAT ACCESS AND OPPORTUNITIES ARE SHARED TO BENEFIT RESIDENTs AND BUSINESS OWNERS OF CHICAGOS SOUTHSIDE. AIM TO FOSTER GROWTH, ATTRACT NEW INVESTMENT, DEVELOP OUR LOCAL WORKFORCE AND SUPPORT INCLUSIVE HOUSING.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$215,938$772,559▲ $556,621
Cash and Non-Interest-Bearing Accounts$461,324$426,205▼ $35,119
Total Assets$677,262$1,198,764▲ $521,502
Liabilities
Accounts Payable and Accrued Expenses$7,000$553,424▲ $546,424
Total Liabilities$7,000$553,424▲ $546,424
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$670,262$326,982▼ $343,280
Net Assets With Donor Restrictions-$318,358-
Total Net Assets Fund Balance$670,262$645,340▼ $24,922
Total Liabilities and Net Assets / Fund Balance$677,262$1,198,764▲ $521,502
Compensation and Service Providers
Top Officer Pay85th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ghian FormanPresident CEOFT$155,769$155,769

Board Members and Trustees

NameTitle
Joel HamernickCo-chair
Michael StrautmanisCo-chair
Calvin HolmesDirector
Charise WilliamsDirector
Charles YoungDirector
Cory L ThamesDirector
Dawveed ScullyDirector
Donald McgruderDirector
Elizabeth GardnerDirector
Hubert O ThompsonDirector
Jacky GrimshawDirector
Kimberly LewisDirector
Marc B BrooksDirector
Myles GageDirector
Naomi DavisDirector
Phaedra LeslieDirector
Rev Jessee Knox IiiDirector
Rev Torrey BarrettDirector
Shayne EvansDirector
Stephanie GreenDirector
Susan SherDirector
Father Richard TolliverTreas/secty
Revenue and Support

Revenue Composition

Contributions and Grants
$2,272,234
Program Service Revenue
$0
Investment Income
$15
Other Revenue
$0
All Other Contributions
$559,300
Change in Net Assets
$-5,665
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,914,714
Salaries, Compensation, and Employee Benefits$363,200
Total Fundraising Expense$17,081
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$1,706,094$140,044$280$1,846,418
Comp Disqual Persons$250,272$46,773$16,801$313,846
Fees for Services Accounting-$32,725-$32,725
Payroll Taxes$23,371$2,843-$26,214
Other Employee Benefits$18,512$4,628-$23,140
Information Technology$2,713$8,518-$11,231
Other Expenses$5,452$2,630-$8,082
Fees for Services Management-$4,319-$4,319
Total Functional Expenses$2,006,414$254,419$17,081$2,277,914
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B

“The form 990 is reviewed by members at the board meeting”

Form 990, Part VI, Line 19

“Documents are available at organiztions office for review upon written request. Also available on the irs.gov website”

Filing and Contact Details

Filer

Filer Name
Emerald South Economic Development Colloborative
EIN
83-1478837
In Care Of
% GHIAN FOREMAN
Phone
7734361000
Address
4729 S DREXEL BLVD, CHICAGO, IL 60615-1701

Signing Officer

Name
Ghian Foreman
Title
President and CEO
Phone
7734361000
Signed
2022-07-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ghian Foreman
Formed
2018
Legal Domicile
Il
Voting Board Members
23
Independent Board Members
22
Employees
3

Preparer

Firm
Evolve Accounting & Business Services Inc
Address
4256 ARLINGTON HEIGHTS RD STE 104, ARLINGTON HEIGHTS, IL 60004
Preparer
Michael R Sieczkowski
Phone
8477491851
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“PROGRAM CONSULTING FEES”

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1CO-CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2CO-CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREAS/SECTY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,198,764
Liabilities
$553,424
Net assets
$645,340
Revenue
$2,272,249
Expenses
$2,277,914
Net income
-$5,665
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.01$0.03$0.98$0.81$2.61$1.80
2023Detailed filing. Detailed filing data is available for this year.$2.99$0.03$2.96$3.21$2.63$0.58
2022Detailed filing. Detailed filing data is available for this year.$2.70$0.12$2.58$5.11$3.18$1.94
2021Detailed filing. Detailed filing data is available for this year.$1.20$0.55$0.65$2.27$2.28$0.01
2020Summary only. Only limited summary data is available for this year.$0.68$0.01$0.67$0.79$0.81$0.02
2019Summary only. Only limited summary data is available for this year.$0.77$0.12$0.65$0.68$0.36$0.32
2018Summary only. Only limited summary data is available for this year.$0.33$0.00$0.33$0.35$0.02$0.33