Cleveland Citywide Development Corporation
- Assets
- $1.8m
- Revenue
- $830.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 09/1981
- Data as of
- 12/2023
- EIN
- 34-1344474
Organization Overview
Cleveland Citywide Development Corporation is located in Cleveland, OH. The organization was established in 1981. According to its NTEE Classification (S30) the organization is classified as: Economic Development, 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. Cleveland Citywide 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 12/2023, Cleveland Citywide Development Corporation generated $830.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (10.3%) each year. All expenses for the organization totaled $866.6k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (9.9%) per year over the past 5 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
CCDCS PURPOSE IS TO REVIEW AND PROCESS GRANTS, LOANS, TAX INCREMENTAL FINANCING AND PROVIDE OTHER ASSISTANCE TO ELIGIBLE BUSINESSES/OTHERS WITHIN THE CITY OF CLEVELAND. THIS ASSISTANCE IS DESIGNED TO PROMOTE ECONOMIC GROWTH AND TO RETAIN OR INCREASE EMPLOYMENT WITHIN THE CITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CITY OF CLEVELAND - MNTI - HOMEOWNERS REHABILITATION PROGRAM - THERE ARE TWO COMPONENT FOR THIS PROGRAM. ONE COMPONENT FOR $750,000 IS TO REHABILITATE VACANT HOMES THAT ARE OWNED BY ANOTHER NOT-FOR-PROFIT AGENCY. THIS COMPPONENT INCURRED $86,044 OF EXPENSES IN CALENDAR YEAR 2023. THE OTHER COMPONENT FOR $1,600,000 IS FOR REHABILITATION OF CURRENTLY OCCUPIED HOMES THAT NEEDED REHABILITATION REPAIRS TO ELIMINATE CODE VIOLATIONS OR CORRECT UNSAFE HOUSING CONDITIONS. THIS COMPONENT INCURRED $196,166 OF EXPENSES IN CALENDAR YEAR 2023.
MNTI - DOWN PAYMENT ASSISTANCE - THIS PROGRAM IS DESIGNED TO PROVIDE DOWN PAYMENT ASSISTANCE TO QUALIFIED NEW HOMEOWNERS IN THE GLENVILLE NEIGHBORHOOD AREA. HOMEBUYERS MUST PURCHASE A HOME THAT IS NEWLY CONSTRUCTED OR REHABILITATED THROUGH THE MNTI PROGRAM. THIS COMPONENT INCURRED $80,000 OF EXPENSES IN CALENDAR YEAR 2023.
CITY OF CLEVELAND GLENVILLAGE RETAIL INCUBATOR - THIS PROGRAM WAS DESIGNED TO PROVIDE RETAIL SPACES AND NECESSARY EQUIPMENT FOR ELIGIBLE BUSINESS IN THE GLENVILLE AREA. SEVERAL BUSINESSES WERE PROVIDED ASSISTANCE IN CALENDAR YEAR 2023. THIS PROGRAM WAS ALSO DESIGNED TO PROVIDE TECHNICAL ASSISTANCE TO THESE BUSINESSES TO HELP ENSURE THEIR FINANCIAL VIABILITY. THE TOTAL HISTORIC ESTIMATED EXPENSES FOR THIS PROGRAM WERE $3,200,000. THE MNTI EPXENSES INCURRED FOR THIS PROGRAM IN CALENDAR YEAR 2023 WERE $196,176.
CLEVELAND FOUNDATION GRANT AWARD TO CCDC. THIS GRANT PROGRAM WAS FOR SOFTWARE EDUCATION TO UNDERSERVED INCOME ELIGIBLE STUDENTS.
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 |
|---|---|---|---|
Michael Gruss Lrc Board Member | Trustee | 1 | $0 |
Randy Horst Lrc Board Member | Trustee | 1 | $0 |
Brian Banjac Lrc Board Member | Trustee | 1 | $0 |
J Stefan Holmes Ccdc Board Vice President | Trustee | 3 | $0 |
Tyson Mitchell Board Member | Trustee | 1 | $0 |
Dean Razek Lrc Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
R Ll Hill Management Inc Construction-bldg. | 12/30/20 | $321,837 |
We Can Code It Software Education | 12/30/20 | $160,902 |
| 12/30/20 | $0 | |
| 12/30/20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $709,136 |
| 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 | $709,136 |
| Total Program Service Revenue | $0 |
| Investment income | $1,931 |
| 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 | $830,405 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $26,812 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $64,819 |
| Fees for services: Accounting | $18,825 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| 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 | $8,838 |
| All other expenses | $83,880 |
| Total functional expenses | $866,560 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,599,765 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $193,795 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,986 |
| 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 | $1,801,546 |
| Accounts payable and accrued expenses | $26,182 |
| Grants payable | $0 |
| Deferred revenue | $1,541,661 |
| 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 | $1,567,843 |
| Net assets without donor restrictions | $233,703 |
| 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 | $1,801,546 |