Residents Development Corporation

Nonprofit profile at a glance

EIN
510245235
IRS 990-EZ coverage
2011–2024
Forms available
Form 990 2018, Form 990-EZ 2024, Form 990-N 2020
Location
Chicago, IL, USA
Rating
87
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$17,907
Expenses
$66,298
Assets
$367,868
Liabilities
$10,751

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

Leadership & pay

4 people listed

Executive titles in this filing

  • William Gaddy (President)

People named in this filing

  • William Gaddy (President)
  • Melvin Gunn (VP Treasurer)
  • Addie Carter (Secretary)

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

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

Overview

Mission

Provide low & moderate housing

What it reported doing in 2024

Provide low and moderate housing to individuals

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. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 100
  • Transparency & Controls: 82
  • Sustainability: 31
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -270.2%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 5.55; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 16.6%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: 2.3% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: -7% per year; rating input score 0; 30th percentile among comparable filings
  • Asset growth: 0.5% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $66K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 7 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • High — Sustainability: Operating margin scored 4/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.