Greater Cincinnati Microenterprise Initiative Incorporated
- Assets
- $862.7k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 2
- Location
- Cincinnati, OH
- Founding
- 07/1998
- Data as of
- 12/2021
- EIN
- 31-1595820
Organization Overview
Greater Cincinnati Microenterprise Initiative Incorporated is located in Cincinnati, OH. The organization was established in 1998. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Greater Cincinnati Microenterprise Initiative Incorporated employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Cincinnati Microenterprise Initiative Incorporated 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, Greater Cincinnati Microenterprise Initiative Incorporated generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.3% each year . All expenses for the organization totaled $871.6k during the year ending 12/2021. While expenses have increased by 12.3% 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 PROMOTE THE DEVELOPMENT OF BUSINESS AND ENTERPRISE IN LOW-INCOME NEIGHBORHOODS BY SPONSORING AND PARTICIPATING IN BUSINESS TRAINING, EDUCATION, SMALL BUSINESS LOANS AND ONGOING SUPPORT PROGRAMS IN THE GREATER CINCINNATI AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
JOB TRAINING & EMPLOYMENT PROGRAMS: THE MICROENTERPRISE LOAN PROGRAM CREATED AND/OR RETAINED 21 FULL AND PART TIME JOBS AND RETAINED OVER 173 PT/FT JOBS WITH OUR LOAN PORTFOLIO OF CLIENT AS A DIRECT RESULT OF LENDING ACTIVITIES. GCMI ALSO PROVIDED 229 CLIENTS WITH CLASSROOM AND/OR TECHNICAL ASSISTANCE, 121 COMPLETED OUR ENTREPRENEURIAL TRAINING ACADEMY (ETA). GCMI ALSO PROVIDED PANDEMIC RELIEF GRANTS TO 60 MINORITY BUSINESSES OF COLOR IN 2020.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Willie Hill III Executive Director | Trustee | 50 | $86,434 |
Glenda Cousins Chairperson | OfficerTrustee | 1 | $0 |
Della Rucker Vice Chairperson | OfficerTrustee | 1 | $0 |
Lisa Pflueger Treasurer | OfficerTrustee | 1 | $0 |
Kenneth Blewett Director | Trustee | 0.5 | $0 |
Christopher Calvert Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $161,903 |
| All other contributions, gifts, grants, and similar amounts not included above | $880,739 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,042,642 |
| Total Program Service Revenue | $83,125 |
| Investment income | $8,686 |
| 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 | $1,161,853 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $88,707 |
| Compensation of current officers, directors, key employees. | $26,612 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $48,241 |
| Pension plan accruals and contributions | $7,543 |
| Other employee benefits | $16,011 |
| Payroll taxes | $9,993 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $97,782 |
| Advertising and promotion | $343 |
| Office expenses | $22,215 |
| Information technology | $13,869 |
| Royalties | $0 |
| Occupancy | $32,024 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,356 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,471 |
| Insurance | $2,888 |
| All other expenses | $0 |
| Total functional expenses | $871,553 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $650,571 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,280 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $183,237 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,185 |
| Net Land, buildings, and equipment | $2,416 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $862,689 |
| Accounts payable and accrued expenses | $46,436 |
| Grants payable | $0 |
| Deferred revenue | $44,130 |
| 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 | $90,566 |
| Net assets without donor restrictions | $630,246 |
| Net assets with donor restrictions | $141,877 |
| 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 | $862,689 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Greater Cincinnati Microenterprise Initiative Incorporated has recieved totaling $107,434.
| Awarding Organization | Amount |
|---|---|
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $66,000 |
United Way Of Greater Cincinnati Cincinnati, OH PURPOSE: Program Operating Cost | $31,434 |
First Financial Foundation Cincinnati, OH PURPOSE: FUNDS WILL ALLOW PROGRAM TO SUPPORT 30-50 MINORITY BUSINESSES IN THE AREAS OF BUSINESS MODEL EVALUATION, ACCOUNTING, SOCIAL MEDIA, AND MARKETING | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Action Prgm Corp Of Washington-Morgan Counties Ohio Marietta, OH | $5,593,568 | $15,680,729 |
Ben Franklin Technology Center Of Southeastern Pennsylvania Philadelphia, PA | $114,107,980 | $9,362,495 |
Economic Progress Alliance Of Crawford County Meadville, PA | $32,588,545 | $5,037,136 |
Dayton-Miami Valley Entrepreneurs Center Dayton, OH | $1,732,141 | $5,542,266 |
Small Business Aid Inc Shipshewana, IN | $1,429,380 | $3,351,237 |
Manufacturers Resource Center Allentown, PA | $3,950,399 | $3,151,417 |
Spedd Inc Vandergrift, PA | $27,841,148 | $4,019,412 |
Detroit Development Fund Detroit, MI | $19,500,518 | $2,941,920 |
Allentown Economic Development Corporation Allentown, PA | $28,611,870 | $1,731,246 |
Premier Capital Corporation Indianapolis, IN | $2,695,127 | $1,528,792 |
Assets Lancaster Lancaster, PA | $1,401,857 | $1,513,730 |
Regional Development Funding Corporation Pittsburgh, PA | $15,281,796 | $3,181,210 |