Economic And Community Development Institute Inc

Organization Overview

Economic And Community Development Institute Inc is located in Columbus, OH. The organization was established in 1986. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Economic And Community Development Institute Inc employed 85 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic And Community Development Institute Inc 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 06/2022, Economic And Community Development Institute Inc generated $20.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.6% each year . All expenses for the organization totaled $15.9m during the year ending 06/2022. While expenses have increased by 12.7% 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.

Since 2021, Economic And Community Development Institute Inc has awarded 125 individual grants totaling $1,208,430. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

ECDI SERVES THE NEEDS OF DISADVANTAGED LOW-INCOME, LOW-WEALTH ENTREPRENEURS THROUGH A MULTI-TIERED APPROACH THAT COMBINES ACCESS TO AFFORDABLE CAPITAL, WITH WRAPAROUND SMALL BUSINESS DEVELOPMENT SERVICES, ALLOWING UNDERSERVED ENTREPRENEURS TO CREATE AND EXPAND THEIR BUSINESS AND ENTER THE ECONOMIC MAINSTREAM.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ECDI OFFERS RESPONSIBLE, AFFORDABLE SMALL BUSINESS LOANS RANGING FROM $750 TO $500,000 TO ENTREPRENEURS THAT FACE BARRIERS TO OBTAINING CAPITAL FROM TRADITIONAL FINANCIAL INSTITUTIONS. ECDI'S CLIENTELE CONSISTS LARGELY OF WOMEN (52%), MINORITIES (79%), AND LOW-MODERATE INCOME PEOPLE (50%). DURING FISCAL YEAR 2022, ECDI DISBURSED 333 LOANS TOTALING MORE THAN $13.3 MILLION.


ECDI PROVIDES SMALL BUSINESS DEVELOPMENT SERVICES INCLUDING ONE-ON-ONE TECHNICAL ASSISTANCE, BUSINESS DEVELOPMENT TRAINING, AND SECTOR-SPECIFIC BUSINESS INCUBATION PROGRAMS. ECDI IS THE HOST OF FOUR SBA WOMEN'S BUSINESS CENTERS AND PROVIDES SERVICES ACROSS THE STATE OF OHIO AND PARTS OF WEST VIRGINIA, KENTUCKY, AND INDIANA, WITH OFFICES IN SEVEN CITIES.


OTHER


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Board, Officers & Key Employees

Name (title)Compensation
Inna Kinney
CEO
$341,460
Steven Fireman
President
$311,359
Amy Wanzo
Vice President
$112,391
Doghlas Craven
Vice President
$111,200
Joseph Armstrong
Vice President
$105,259
Anna Parlet
Vice President
$102,535

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $13,431,921
All other contributions, gifts, grants, and similar amounts not included above$3,624,142
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$17,056,063
Total Program Service Revenue$2,914,421
Investment income $617
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 $19,971,101

Grants Awarded

Over the last fiscal year, Economic And Community Development Institute Inc has awarded $570,930 in support to 39 organizations.

Grant RecipientAmount

OHIO CDC ASSOCIATION

Org PageRecipient Profile

Columbus, OH

PURPOSE: FINANCIAL ASSISTANCE FROM THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT - CORONAVIRUS RELIEF FUND

$101,380

San Francisco, CA

PURPOSE: FINANCIAL ASSISTANCE FROM THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT - CORONAVIRUS RELIEF FUND

$45,000

CLEVELAND OAK INC

PURPOSE: FINANCIAL ASSISTANCE FROM THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT - CORONAVIRUS RELIEF FUND

$25,000

JR COLEMAN FAMILY SERVICES CORPORATION

Org PageRecipient Profile

Canton, OH

PURPOSE: FINANCIAL ASSISTANCE FROM THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT - CORONAVIRUS RELIEF FUND

$25,000

HOUSE OF GRACE RESIDENTIAL SERVICES LLC

PURPOSE: FINANCIAL ASSISTANCE FROM THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT - CORONAVIRUS RELIEF FUND

$25,000

THE SAND ROCK MINERAL WATER COMPANY

PURPOSE: FINANCIAL ASSISTANCE FROM THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT - CORONAVIRUS RELIEF FUND

$25,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 17 grants that Economic And Community Development Institute Inc has recieved totaling $1,027,895.

Awarding OrganizationAmount
Cleveland Foundation

Cleveland, OH

PURPOSE: ENCORE ENTREPRENEUR INITIATIVE DIGITAL CONNECT

$187,500
Jumpstart Inc

Cleveland, OH

PURPOSE: ECONOMIC DEVELOPMENT

$146,450
Ohio Capital Finance Corporation

Columbus, OH

PURPOSE: PROGRAM SUPPORT

$120,000
Jp Morgan Chase Foundation

New York, NY

PURPOSE: IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION

$87,500
Burton D Morgan Foundation Inc

Hudson, OH

PURPOSE: TO SUPPORT AKRON OPERATIONS THROUGH THE REMAINDER OF 2021

$68,000
Saint Lukes Foundation Of Cleveland Ohio

Cleveland, OH

PURPOSE: OPERATING SUPPORT

$65,000
View Grant Recipient Profile

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