Cincinnati Center City Development Corporation is located in Cincinnati, OH. The organization was established in 2004. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Cincinnati Center City Development Corporation employed 348 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cincinnati Center City Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Cincinnati Center City Development Corporation generated $48.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $50.0m during the year ending 12/2021. While expenses have increased by 4.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO STRENGTHEN THE CORE ASSETS OF DOWNTOWN CINCINNATI, CREATE GREAT CIVIC SPACES, (SEE SCHEDULE O) HIGH-DENSITY/MIXED-USE DEVELOPMENTS, AND PRESERVE HISTORIC STRUCTURES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MIXED-USE REAL ESTATE: MUCH OF 3CDC'S MIXED-USE FOUNDRY PROJECT WAS COMPLETED IN 2022, RESULTING IN 700 NEW EMPLOYEES IN CINCINNATI'S URBAN CORE ACROSS THE BUILDING'S THREE OFFICE TENANTS. THE ORGANIZATION CONTINUES TO WORK TO CONNECT THE FOUNTAIN SQUARE AREA TO THE CONVENTION CENTER DISTRICT WHILE FILLING ITS STREET-LEVEL COMMERCIAL SPACES WITH A WIDE VARIETY OF TENANTS. THE ORGANIZATION, WHICH CURRENLTY HAS OVER 100 TENANTS IN STREET-LEVEL COMMERCIAL SPACES, IS FOCUSED ON INCREASING THE NUMBER OF MINORITY- AND WOMEN-OWNED BUSINESSES IN ITS SPACES. CURRENTLY, 30% (32/107) OF 3CDC'S LEASED, STREET-LEVEL COMMERCIAL SPACES ARE MINORITY-OWNED BUSINESSES, WHILE 36% (39/107) OF 3CDC'S FIRST-FLOOR RETAIL TENANTS ARE WOMAN-OWNED BUSINESSES.
PARKING: 3CDC BROUGHT ITS PARKING SERVICES IN-HOUSE IN 2022, OPTING TO HIRE 40 NEW EMPLOYEES AND FIVE NEW MANAGERS TO OVERSEE THE MANAGEMENT OF THE 10 GARAGES AND SEVEN SURFACE LOTS IN THE ORGANIZATION'S PORTFOLIO. 3CDC IS COMMITTED TO PROVIDING CLEAN, SAFE, WELL-LIT GARAGES, AND OUTSTANDING CUSTOMER SERVICE. THE ORGANIZATION MANAGES A TOTAL OF 5,918 PARKING SPACES IN CINCINNATI'S URBAN CORE, SETTING ITS PRICES AT OR BELOW MARKET RATES TO ENSURE PARKING IS ACCESSIBLE TO VISITORS, RESIDENTS AND WORKERS IN DOWNTOWN. ADDITIONALLY, PARKING SERVES AS AN AMENITY THAT SUPPORTS THE SMALL BUSINESSES IN THE URBAN CORE, MAKING IT EASIER FOR PATRONS TO VISIT RETAIL, FOOD & BEVERAGE, AND SERVICE-BASED ESTABLISHMENTS.
CIVIC SPACE EVENT MANAGEMENT AND PROGRAMMING: IN 2022, 3CDC HOSTED OVER 1,500 FREE FAMILY-FRIENDLY EVENTS ACROSS THE SIX CIVIC SPACES IT MANAGES IN CINCINNATI'S URBAN CORE FOUNTAIN SQUARE, WASHINGTON PARK, ZIEGLER PARK, MEMORIAL HALL, COURT STREET PLAZA AND IMAGINATION ALLEY. THIS INCLUDED OVER 25,000 VISITORS TO THE ZIEGLER PARK POOL, FREE SWIM LESSSONS FOR OVER 600 ADULTS AND CHIDREN, A LOW-COST SUMMER CAMP CATERING TO NEIGHBORHOOD YOUTH PRIMARILY UTILIZED BY FAMILIES LIVING AT OR BELOW THE POVERTY LINE AND A FREE SWIM TEAM. ADDITIONALLY, SEVERAL DOZEN AMBASSADORS WORKED TO KEEP THE SPACES CLEAN AND SAFE. THESE ACTIVITIES ALL SUPPORT CREATING VIBRANT, DYNAMIC CIVIC SPACES THAT RESULT IN SAFER NEIGHBORHOODS, DUE TO POSITIVE ACTIVITY. ADDITIONALLY, PATRONS WHO VISIT THE PARK OFTEN SUPPORT THE LOCAL ECONOMY BY PARKING AT NEARBY GARAGES AND VISITING SMALL BUSINESSES IN THE AREA.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Stephen G Leeper President & CEO | OfficerTrustee | 45 | $628,087 |
Carolyn Tastad Chair (thru 3/25/2022) | OfficerTrustee | 1 | $0 |
Shailesh Jejurikar Chair (as Of 3/25/2022) | OfficerTrustee | 1 | $0 |
Ralph S Michael III Vice Chair | OfficerTrustee | 1 | $0 |
Joseph A Pichler Vice Chair | OfficerTrustee | 1 | $0 |
John F Barrett Board Member | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Messer Construction Co Construction | 12/30/22 | $4,892,220 |
Turner Construction Company Construction | 12/30/22 | $4,043,637 |
Graybach Construction | 12/30/22 | $2,524,785 |
Model Construction Construction | 12/30/22 | $2,190,415 |
Sp-plus Corporation Construction | 12/30/22 | $1,900,239 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $9,667,683 |
Investment income | $1,227,293 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $2,567,835 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $48,260,098 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,349,010 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $4,737,539 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $1,145,109 |
Payroll taxes | $761,796 |
Fees for services: Management | $396,868 |
Fees for services: Legal | $444,508 |
Fees for services: Accounting | $251,993 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $433,598 |
Advertising and promotion | $524,886 |
Office expenses | $1,260,661 |
Information technology | $355,858 |
Royalties | $0 |
Occupancy | $8,212,130 |
Travel | $72,650 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $11,068,803 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $4,876,162 |
Insurance | $771,201 |
All other expenses | $0 |
Total functional expenses | $49,969,068 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $31,211,772 |
Pledges and grants receivable | $1,553,127 |
Accounts receivable, net | $1,771,086 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $22,604,883 |
Inventories for sale or use | $4,378,382 |
Prepaid expenses and deferred charges | $7,508,144 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $19,816,365 |
Intangible assets | $0 |
Other assets | $156,675,378 |
Total assets | $391,517,750 |
Accounts payable and accrued expenses | $14,658,695 |
Grants payable | $0 |
Deferred revenue | $24,569,384 |
Tax-exempt bond liabilities | $154,586,404 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $203,298,134 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $7,848,483 |
Total liabilities | $404,961,100 |
Net assets without donor restrictions | -$13,443,350 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Total liabilities and net assets/fund balances | -$13,443,350 |
Over the last fiscal year, Cincinnati Center City Development Corporation has awarded $9,540,957 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
MUSIC HALL REVITALIZATION COMPANY INC PURPOSE: General Support | $9,531,457 |
OVER-THE-RHINE CHAMBER OF COMMERCE PURPOSE: General Support | $9,500 |