Hilliard Development Corporation
- Assets
- $843.3k
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Hilliard, OH
- Founding
- 10/2006
- Data as of
- 12/2022
- EIN
- 20-1239966
Organization Overview
Hilliard Development Corporation is located in Hilliard, OH. The organization was established in 2006. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hilliard Development Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Hilliard Development Corporation generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 51.0% each year . All expenses for the organization totaled $969.6k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Hilliard Development Corporation has awarded 19 individual grants totaling $1,029,804. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ADVANCE, ENCOURAGE AND PROMOTE THE INDUSTRIAL, ECONOMIC, COMMERCIAL AND CIVIC DEVELOPMENT OF THE CITY OF HILLIARD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAND ACQUISITION & SALE FOR REDEVELOPMENT IN THE CITY OF HILLIARD
FACADE IMPROVEMENT GRANTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kirk Herath President | OfficerTrustee | $0 | |
Michelle Crandall Vice Preside | OfficerTrustee | $0 | |
Aristotle Hutras Board Member | Trustee | $0 | |
Les Carrier Board Member | Trustee | $0 | |
Mark Tremayne Board Member | Trustee | $0 | |
Matt Vanvleet Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,040,961 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,040,961 |
| Total Program Service Revenue | $0 |
| Investment income | $425 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,041,386 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $847,924 |
| Grants and other assistance to domestic individuals. | $80,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,621 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $315 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $969,647 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $816,844 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26,287 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $204 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $843,335 |
| Accounts payable and accrued expenses | $7,831 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,831 |
| Net assets without donor restrictions | $835,504 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $843,335 |
Grants Awarded
Over the last fiscal year, Hilliard Development Corporation has awarded $847,924 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
THE MASSIVE IMPACT LLC | | | $14,200 |
ECO CHEM ALTERNATIVE FUELS | | | $18,155 |
MOD SALON CORP | | | $50,000 |
CITY OF HILLIARD | | | $750,336 |
IC3D INC | | | $15,233 |