Cift
- Assets
- $2.8m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 17
- Location
- Toledo, OH
- Founding
- 03/2003
- Data as of
- 06/2022
- EIN
- 34-1565585
Organization Overview
Cift is located in Toledo, OH. The organization was established in 2003. 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. As of 06/2022, Cift employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cift 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, Cift generated $3.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $3.4m during the year ending 06/2022. While expenses have increased by 9.7% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOP AND PROVIDE TECHNICAL INNOVATIVES AND SOLUTIONS FOR FOOD PROCESSING AGRIBUSINESS AND AGRICULTURAL SECTORS OF THE ECONOMY IN OUR REGION STATE AND BEYOND
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR SERVICES ARE DESIGNED TO ENHANCE THE ECONOMIC PERFORMANCE OF THE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
R Singer President & Ce | Officer | 40 | $181,383 |
S Plimpton V President | 40 | $132,056 | |
T Wildermouth Dir Of Mfg | 40 | $124,261 | |
K Hermiller Sec & Treas | Officer | 36 | $112,911 |
B Grote V Chairman | OfficerTrustee | 1 | $0 |
B Chisholm Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dl Steiner Engineering & Consul | 6/29/22 | $114,314 |
Rovisys Engineering & Consul | 6/29/22 | $128,392 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $189,167 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,588,611 |
| All other contributions, gifts, grants, and similar amounts not included above | $69,250 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,847,028 |
| Total Program Service Revenue | $776,523 |
| Investment income | $1,527 |
| 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 | $3,625,078 |
| 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. | $509,394 |
| Compensation of current officers, directors, key employees. | $67,079 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $808,937 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $154,997 |
| Payroll taxes | $95,437 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,000 |
| Fees for services: Accounting | $17,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $35,289 |
| Office expenses | $3,506 |
| Information technology | $7,259 |
| Royalties | $0 |
| Occupancy | $141,840 |
| Travel | $45,110 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37,205 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,963 |
| Insurance | $12,794 |
| All other expenses | $1,489,623 |
| Total functional expenses | $3,395,854 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $132,478 |
| Savings and temporary cash investments | $1,611,269 |
| Pledges and grants receivable | $319,083 |
| Accounts receivable, net | $207,324 |
| 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 | $49,667 |
| Net Land, buildings, and equipment | $115,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $364,447 |
| Total assets | $2,799,268 |
| Accounts payable and accrued expenses | $256,867 |
| Grants payable | $0 |
| Deferred revenue | $516,707 |
| 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 | $773,574 |
| Net assets without donor restrictions | $2,025,694 |
| 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 | $2,799,268 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cift has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Jumpstart Inc Cleveland, OH PURPOSE: ECONOMIC DEVELOPMENT | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Leap Lansing, MI | $5,631,252 | $15,493,708 |
Greater Cleveland Partnership Cleveland, OH | $36,035,820 | $14,402,868 |
Philadelphia Industrial Development Corp Philadelphia, PA | $40,435,799 | $13,493,986 |
Board Of Certified Safety Professionals Of The Americas Inc Indianapolis, IN | $35,079,358 | $17,695,377 |
The Right Place Inc Grand Rapids, MI | $10,135,241 | $14,178,677 |
Pocono Mountains Vacation Bureau Inc Stroudsburg, PA | $11,737,684 | $15,325,542 |
Central Indiana Corporate Partnership Inc Indianapolis, IN | $8,694,724 | $11,696,503 |
National Kitchen & Bath Assoc Bethlehem, PA | $28,104,693 | $9,331,415 |
Automotive Industry Action Group Southfield, MI | $14,204,782 | $10,849,803 |
Detroit Regional Chamber Foundation Inc Detroit, MI | $6,324,468 | $12,985,195 |
Detroit Regional Chamber Detroit, MI | $15,593,687 | $11,203,489 |
Custom Electronic Design & Installation Association Fishers, IN | $40,806,745 | $4,400,829 |