18Th & Wabash Corp

Nonprofit profile at a glance

EIN
364062755
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
3124210588
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$659,669
Expenses
$1,484,758
Assets
$2,660,664
Liabilities
$17,032,483

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • DAINA JAUNTIRANS (PRESIDENT)

People named in this filing

  • DAINA JAUNTIRANS (PRESIDENT)
  • TOM DEMAS (SECRETARY)
  • WENDY WECKLER (BOARD MEMBER AT-LARGE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

18th & wabash corp. Was formed to construct and operate a 170 room single residency occupancy (sro). The corporation's primary purpose is to provide affordable housing for low & moderate income individuals.

What it reported doing in 2024

18th & wabash corp. Was organized on august 24, 1995 as an Illinois nonstock, nonprofit corporation for the purpose of constructing and operating a single room occupancy ("sro") rental housing project under the federal home investment partnership program with funds having flowed through the city of chicago department of housing in the form of a mortgage loan. The project consists of 170 units located in chicago, Illinois and is commonly called the studios.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 28
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.4%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -125.1%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 1.79; rating input score 61; 61st percentile among comparable filings
  • Liabilities to assets ratio: 6.4; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 3.8% per year; rating input score 100; 36th percentile among comparable filings
  • Revenue growth: -0.3% per year; rating input score 0; 14th percentile among comparable filings
  • Asset growth: -6.2% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.4% of spending went to programs
  • Governance: 4 of 4 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.5M in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Highest-paid contractors: 1 contractor listed · $239K reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 11 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.