Consortium For Ongoing Reinvestment Efforts
- Assets
- $12.3m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Hamilton, OH
- Founding
- 04/2014
- Data as of
- 12/2022
- EIN
- 35-2453640
Organization Overview
Consortium For Ongoing Reinvestment Efforts, operating under the name Dba Hamilton Core Fund, is located in Hamilton, OH. The organization was established in 2014. 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. Dba Hamilton Core Fund 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 12/2022, Dba Hamilton Core Fund generated $1.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (14.5%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. 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
CORE'S MISSION IS TO ACCELERATE HAMILTON'S URBAN RENAISSANCE THROUGH TARGETED INVESTMENTS IN REAL ESTATE DEVELOPMENT OR REDEVELOPED PROJECTS IN THE CITY'S URBAN CORE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ACHIEVE ITS MISSION AND STRATEGIC FOCUS TO STRENGTHEN THE CORE ASSETS OF HAMILTON'S CITY CENTER, THE CORE FUND MANAGES LOAN FUNDS GEARED TOWARD REDEVELOPMENT AND SPURRING ECONOMIC DEVELOPMENT IN DISTRESSED AND STRUGGLING BUSINESS DISTRICTS AND NEIGHBORHOODS. THE CORE INVESTMENT FUND WILL BE USED IN FLEXIBLE, STRUCTURED FINANCING ARRANGEMENTS DEPENDING UPON THE TYPE OF PROJECT AND ITS CAPITAL REQUIREMENTS. THE STRATEGIC PROPERTY FUND WILL BE USED TO IDENTIFY AND PURCHASE BUILDINGS AND VACANT PROPERTY IN TARGET AREAS FOR FUTURE DEVELOPMENT. FINALLY, THE RESIDENTIAL REDEVELOPMENT FUND WILL BE USED IN ACQUIRING RESIDENTIAL PROPERTY, ENSURING THAT THE PROPERTY IS MAINTAINED AND DOES NOT SUFFER FURTHER DETERIORATION.
TO ACHIEVE ITS MISSION AND STRATEGIC FOCUS TO STRENGTHEN THE CORE ASSETS OF HAMILTON'S CITY CENTER, THE CORE FUND MANAGES LOAN FUNDS GEARED TOWARD REDEVELOPMENT AND SPURRING ECONOMIC DEVELOPMENT IN DISTRESSED AND STRUGGLING BUSINESS DISTRICTS AND NEIGHBORHOODS. THE CORE INVESTMENT FUND WILL BE USED IN FLEXIBLE, STRUCTURED FINANCING ARRANGEMENTS DEPENDING UPON THE TYPE OF PROJECT AND ITS CAPITAL REQUIREMENTS. THE STRATEGIC PROPERTY FUND WILL BE USED TO IDENTIFY AND PURCHASE BUILDINGS AND VACANT PROPERTY IN TARGET AREAS FOR FUTURE DEVELOPMENT. FINALLY, THE RESIDENTIAL REDEVELOPMENT FUND WILL BE USED IN ACQUIRING RESIDENTIAL PROPERTY, ENSURING THAT THE PROPERTY IS MAINTAINED AND DOES NOT SUFFER FURTHER DETERIORATION.
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 |
|---|---|---|---|
Mag Baker Board Member | Trustee | 1 | $0 |
Rick Demmel Board Member | Trustee | 1 | $0 |
Michael Dingeldein President | OfficerTrustee | 5 | $0 |
John Guidugli Board Member | Trustee | 1 | $0 |
Chris Motley Board Member | Trustee | 1 | $0 |
Jeff Thurman Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $600,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $48,844 |
| Noncash contributions included in lines 1a–1f | $40,844 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $648,844 |
| Total Program Service Revenue | $1,072,578 |
| Investment income | $2,596 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$175,616 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,548,402 |
| 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 | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $15,000 |
| Fees for services: Legal | $17,016 |
| Fees for services: Accounting | $23,340 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $441 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $76,404 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $310,063 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $299,701 |
| Insurance | $79,998 |
| All other expenses | $4,199 |
| Total functional expenses | $1,239,268 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,602,872 |
| Savings and temporary cash investments | $626,268 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $39,113 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,299,157 |
| Prepaid expenses and deferred charges | $50,875 |
| Net Land, buildings, and equipment | $8,608,391 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $39,290 |
| Total assets | $12,265,966 |
| Accounts payable and accrued expenses | $677,306 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $9,418,611 |
| Other liabilities | $77,492 |
| Total liabilities | $10,173,409 |
| Net assets without donor restrictions | $1,450,671 |
| Net assets with donor restrictions | $641,886 |
| 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 | $12,265,966 |