2024-10-11T07:43:32-05:00 2023-12-31 363321958 DESMOND & AHERN LTD 10827 S WESTERN AVENUE CHICAGO IL 606433206 990 2023-01-01 362907408 Woodstock Institute WOOD 7738286240 67 East Madison 2108 Chicago IL 60603 Horacio Mendez President 7738286240 2024-10-11 1 1 Mel Padillo P03172019 7737794720 2024-10-10 2023 2024-10-15 13:58:12Z Horacio Mendez 67 East Madison 2108 Chicago IL 60603 1537944 0 X www.woodstockinst.org X 1977 IL To create a just financial system in which lower-wealth persons and communities and people and communities of color can achieve economic security and community prosperity. 14 13 10 14 0 0 1509502 1373240 0 153000 4004 5097 0 6607 1513506 1537944 7222 0 0 0 769277 921177 0 0 244832 661744 675097 1438243 1596274 75263 -58330 1345374 1166153 701025 580134 644349 586019 X To create a just financial system in which lower-wealth persons and communities and people and communities of color can achieve economic security and community prosperity. 0 0 430606 100000 Technical assistance/Small business 540317 59607 Equitable lending & investment: Woodstock produces research on the often predatory and disproportionate impact of financial products and practices on low-wage workers, low-wealth people and communities of color, develops model reforms, and advocates with regional stakeholders for consumer protections and fair rates for mortgage and consumer credit. For example, Woodstock played a critical leadership role in eliminating many of the short-term credit industry's worst practices in Illinois with the passage of HB537, which included all of the key consumer protections identified in Woodstock's substantial body of consumer credit research. That law caps rates for short-term credit products, prevents the cycle of debt caused by frequent refinancing, and gives regulators the tools necessary to identify predatory practices before they become widespread. At the federal level, Woodstock works to ensure that the lending and consumer laws and rules apply to the widest possible range of products and effectively protect consumers, low-wage workers and small business owners before industry abuses become widespread. Woodstock's goals are to reduce the number of consumers using predatory credit products and the level of debt held by low-wealth people, and to help lower-wealth people and communities of color build and preserve wealth. 88221 Wealth creation and preservation: Woodstock uses innovative research to identify barriers to and opportunities for wealth creation for low-wealth persons and communities, and engages in coalition building and advocacy to expand policies that promote equitable wealth creation. For example, Woodstock conducted research on the extent of retirement security in Illinois and collaborated with the Illinois asset building group to persuade Illinois to create a first-ever state program for employment-based retirement savings plans to save through automatic enrollment and payroll deduction into a Roth IRA, with the ability to opt out. 1059144 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 16 0 1 10 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 IL X X David Dominguez 7732947343 67 East Madison Suite 2108 Chicago IL 60603 Thomas Fitzgibbon Jr Chair 0.50 X X 0 0 0 Juan Carlos Linares Vice-Chair 0.50 X X 0 0 0 Manuel Jimenez Treasurer 0.50 X X 0 0 0 Audra Wilson Secretary 0.50 X X 0 0 0 Domenika Lynch Board member 0.50 X 0 0 0 Hinsley Njila Board member 0.50 X 0 0 0 Jacqueline Collins Board member 0.50 X 0 0 0 Louis Caditz-Peck Board member 0.50 X 0 0 0 Matthew Roth Board member 0.50 X 0 0 0 Michael Seng Board member 0.50 X 0 0 0 Quentin Strode Board member 0.50 X 0 0 0 Ravi Aurora Board member 0.50 X 0 0 0 Staci Glenn-Short Board member 0.50 X 0 0 0 Horacio Mendez President and CEO 40.00 X 167901 0 25415 167901 0 25415 1 0 1 0 Mallers Building LLC 5 S Wabash Ave Suite 2116 Chicago IL 60603 Occupancy 115287 1 1373240 1373240 Program Service Fees 900099 153000 153000 153000 5097 5097 Other income 900099 6607 6607 6607 1537944 159607 0 5097 193316 128267 35399 29650 588913 441071 60072 87770 2772 2023 333 416 81460 61155 8172 12133 54716 39943 6566 8207 9499 8214 633 652 51325 44379 3422 3524 36822 36822 129634 107107 11099 11428 30464 20563 8759 1142 92378 74584 6451 11343 133629 23564 104396 5669 152199 51253 34551 66395 1928 1384 245 299 5460 1820 3215 425 Dues & Subscriptions 21220 10969 7144 3107 Miscellaneous 10539 6026 1841 2672 1596274 1059144 292298 244832 19480 28775 607538 607336 62500 263 13858 29254 13601 58611 55405 5135 3206 621204 499377 1345374 1166153 63780 64791 637245 515343 701025 580134 X 292649 169397 351700 416622 644349 586019 1345374 1166153 -58330 0 X X 0 1 X 1 0 X 659120 1067269 978551 1509502 1373240 5587682 659120 1067269 978551 1509502 1373240 5587682 1337208 4250474 2351 1444 755 4004 5097 13651 7775 6607 14382 5615715 0.75690 0.75780 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 77452 77452 1518823 1596275 229814 57454 0 0 218824 229814 448638 672957 54696 77452 132148 54706 57454 112160 168240 41 41 58611 55405 3206 3206 Security deposits 11168 Operating lease right-of-use asset 488209 499377 Operating lease liability 515343 515343 X 1537944 0 1537944 0 1537944 1596275 1 1 1596274 0 1596274 Part X, Line 2: FIN 48 Footnote from Audited Financial Statement The Organization was granted an exemption from federal income taxes by the Internal Revenue Service pursuant to the provisions of Internal Revenue Code Section 501(c)(3). The Organization qualifies for the charitable contribution deduction under Section 170(b)(1)(A)(vi) and has been classified as an organization that is not a private Organization under Section 509(a)(1). The tax- exempt purpose of the Organization and the nature in which it operates is described above. Management believes the Organization continues to operate in compliance with its tax-exempt purpose. Thus, no provision for income tax has been provided for in the financial statements. The Organization's Form 990, Return of Organization Exempt from Income Tax, is subject to examination by the IRS, generally for three years after it has been filed. The Organization has adopted the requirements for accounting for uncertain tax positions and management has determined that the Organization was not required to record a liability related to uncertain tax positions as of December 31, 2023. X 0 0 0 0 0 0 0 0 0 Horacio Mendez President and CEO 167901 0 0 0 0 0 0 0 25415 0 193316 0 0 0 Form 990, Part VI, Section B, line 11b The audit committee and the Board of Directors reviews the form 990 return with the independent auditor along with the annual audit report before filing. Form 990, Part VI, Section B, line 12c Potential conflicts of interest are reviewed annually by the Executive Committee and appropriate action(s) are taken. Form 990, Part VI, Section B, line 15a Independent external surveys are used to determine appropriate compensation levels. Form 990, Part VI, Section C, line 19 Available upon request. Form 990, Part XII, line 2c: There were no changes to the audit selection process from the prior year.