Cincinnati Center City Development Corporation

Organization Overview

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.

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.


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Board, Officers & Key Employees

Name (title)Compensation
Stephen G Leeper
President & CEO
$628,087
Carolyn Tastad
Chair (thru 3/25/2022)
$0
Shailesh Jejurikar
Chair (as Of 3/25/2022)
$0
Ralph S Michael III
Vice Chair
$0
Joseph A Pichler
Vice Chair
$0
John F Barrett
Board Member
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Messer Construction Co
Construction
$4,892,220
Turner Construction Company
Construction
$4,043,637
Graybach
Construction
$2,524,785
Model Construction
Construction
$2,190,415
Sp-plus Corporation
Construction
$1,900,239
View All Vendors

Financial Statements

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

Grants Awarded

Over the last fiscal year, Cincinnati Center City Development Corporation has awarded $9,540,957 in support to 2 organizations.

Grant RecipientAmount

MUSIC HALL REVITALIZATION COMPANY INC

PURPOSE: General Support

$9,531,457

OVER-THE-RHINE CHAMBER OF COMMERCE

PURPOSE: General Support

$9,500
View Grant Profile

Peer Organizations

Organization NameAssets
Gateway Economic Development Corporation Of Greater Cleveland
Cleveland, OH
$82,302,277
Cincinnati Center City Development Corporation
Cincinnati, OH
$48,260,098
Harristown Development Corporation
Harrisburg, PA
$18,623,535
The Center Of Workforce Innovations Inc
Valparaiso, IN
$16,535,508
Capitol South Community Urban Redevelopment Corporation
Columbus, OH
$13,517,756
Community Action Of South Eastern West Virginia
Bluefield, WV
$13,634,857
Rising Tide Community Loan Fund
Bethlehem, PA
$8,811,127
Pittsburgh Downtown Partnership
Pittsburgh, PA
$9,502,366
Greater Kokomo Economic Development Alliance Inc
Kokomo, IN
$5,785,033
Midtown Detroit Inc
Detroit, MI
$8,677,582
West Central Indiana Economic Development District Inc
Terre Haute, IN
$5,441,220
Evansville Vanderburgh County Convention & Visitors Bureau Inc
Evansville, IN
$4,295,195
Downtown Cleveland Improvementcorporation
Cleveland, OH
$5,263,381
Detriot Economic Growth Association
Detroit, MI
$5,567,044
Ohio Capital Finance Corporation
Columbus, OH
$18,182,307
The Columbus Partnership
Columbus, OH
$9,362,677
Humans First Detroit
Detroit, MI
$5,407,214
Enterprise Center
Philadelphia, PA
$6,353,979
North Central Pennsylvania Regional Planning And Development Commi
Ridgway, PA
$5,098,321
Bounce Innovation Hub
Akron, OH
$3,200,814
Cleveland Development Advisors Community Reinvestment Fund Inc
Cleveland, OH
$4,293,488
Warren-Conner Development Coalition Inc
Detroit, MI
$3,448,048
Warriors Inc
Youngstown, OH
$5,227,949
Lucas County Economic Development Corporation
Toledo, OH
$4,608,812
Renaissance Development Fund
Benton Harbor, MI
$5,877,883

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