Cincinnati Development Fund Inc

Organization Overview

Cincinnati Development Fund Inc is located in Cincinnati, OH. The organization was established in 1989. According to its NTEE Classification (L82) the organization is classified as: Housing Expense Reduction Support, under the broad grouping of Housing & Shelter and related organizations. As of 03/2022, Cincinnati Development Fund Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cincinnati Development Fund 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 03/2022, Cincinnati Development Fund Inc generated $6.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $5.5m during the year ending 03/2022. While expenses have increased by 7.7% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO DRIVE COMMUNITY REVITALIZATION BY PROVIDING CAPITAL ACCESS AND TECHNICAL ASSISTANCE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

CINCINNATI DEVELOPMENT FUND (CDF) IS A NONPROFIT LENDING INSTITUTION ESTABLISHED IN 1988 TO FINANCE AFFORDABLE HOUSING DEVELOPMENT AND COMMUNITY REVITALIZATION IN THE GREATER CINCINNATI AREA. CDF'S MISSION IS TO PROVIDE INNOVATIVE REAL ESTATE FINANCING FOR PROJECTS THAT STRENGTHEN LOW-INCOME NEIGHBORHOODS AND IMPROVE LIVES.OVER THE PAST 30 YEARS, LOCAL FINANCIAL INSTITUTIONS, FOUNDATIONS, SOCIALLY MOTIVATED INVESTORS, AND LOCAL AND FEDERAL GOVERNMENTS HAVE ALL CONTRIBUTED TO CDF'S SOURCES OF CAPITAL. FINANCIAL INSTITUTIONS INVEST IN CDF BECAUSE OF OUR EXPERTISE IN EVALUATING COMPLEX LOAN APPLICATIONS WITH MULTIPLE FINANCING SOURCES. THIS EXPERIENCE MAKES IT EASIER AND MORE COST-EFFECTIVE FOR FINANCIAL INSTITUTIONS TO INVEST IN THE COMMUNITY. AN ADDED BENEFIT IS THAT FUNDS ARE ORGANIZED INTO LOAN POOLS THAT ENABLE LENDERS TO DIVERSIFY THEIR LOAN PORTFOLIOS AND SHARE THE RISK ON EACH LOAN WITH OTHER CDF PARTICIPANTS. CDF HAS ORIGINATED MORE THAN $425 MILLION IN LOANS RESULTING IN THE CREATION OF MORE THAN 6,000 UNITS OF HOUSING. CDF FOCUSES ON LENDING IN LOW INCOME COMMUNITIES WHERE NEED AND IMPACT ARE THE GREATEST.CDF IS AN EQUAL OPPORTUNITY PROVIDER.


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Board, Officers & Key Employees

Name (title)Compensation
Jeanne Golliher
CEO
$273,226
Joseph Huber
President
$227,577
Angela Ginty
Chief Administration Officer
$210,308
Jennifer Larkins
Chief Financial Officer
$175,765
Morag Adlon
Senior Lending Officer
$123,577
Sarah Sheets
Lending Officer
$109,953

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $839,000
All other contributions, gifts, grants, and similar amounts not included above$338,267
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,177,267
Total Program Service Revenue$5,322,135
Investment income $196,679
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$196,828
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $6,552,988

Grants Recieved

Over the last fiscal year, we have identified 9 grants that Cincinnati Development Fund Inc has recieved totaling $175,008.

Awarding OrganizationAmount
Carol Ann And Ralph V Haile Jr Foundation

Cincinnati, OH

PURPOSE: GREATER CINCINNATI REGENERATION ALLIANCE STAFF

$75,000
Carol Ann And Ralph V Haile Jr Foundation

Cincinnati, OH

PURPOSE: CITY HALL BOOTCAMP - YEAR TWO IMPLEMENTATION

$40,000
Carol Ann And Ralph V Haile Jr Foundation

Cincinnati, OH

PURPOSE: CITY HALL SCHOOL IMPLEMENTATION PHASE

$20,000
In Our Backyards Inc

Brooklyn, NY

PURPOSE: FUNDING FOR CITY COUNCIL SCHOOL - YEAR TWO!

$10,008
Carol Ann And Ralph V Haile Jr Foundation

Cincinnati, OH

PURPOSE: NATIONAL PHILANTHROPY OFFICE - FEASIBILITY STUDY

$10,000
Schwab Charitable Fund

San Francisco, CA

PURPOSE: HUMAN SERVICES

$7,000
View Grant Recipient Profile

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