Avondale Development Corporation
- Assets
- $2.9m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 5
- Location
- Cincinnati, OH
- Founding
- 09/2011
- Data as of
- 12/2021
- EIN
- 45-2412695
Organization Overview
Avondale Development Corporation is located in Cincinnati, OH. The organization was established in 2011. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Avondale Development Corporation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Avondale 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 12/2021, Avondale Development Corporation generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $1.0m during the year ending 12/2021. While expenses have increased by 8.6% 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
AVONDALE DEVELOPMENT CORPORATION THE ORGANIZATION WAS INCORPORATED AND COMMENCED OPERATIONS AS A 501C 3 NONPROFIT ORGANIZATION IN 2011 TO SERVE THE AVONDALE COMMUNITY THE LARGEST AFRICAN AMERICAN NEIGHBORHOOD IN CINCINNATI TO IMPROVE THE QUALITY OF LIFE OF THE NEIGHBORHOOD THROUGH REAL ESTATE DEVELOPMENT AND COMMUNITY ENGAGEMENT. THE ORGANIZATION'S SUPPORT COMES PRIMARILY FROM DONATIONS FROM INDIVIDUALS, BUSINESSES, ORGANIZATIONS, AND GOVERNMENT GRANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REAL ESTATE DEVELOPMENT TO ADDRESS THE NEED FOR NEW HOUSING UNITS, THE REHABILITATION OF EXISTING HOUSING UNITS, AND DEVELOPING ECONOMIC OPPORTUNITIES FOR RESIDENTS, AND MINORITY AND WOMEN-OWNED BUSINESSES.
COMMUNITY ENGAGEMENT TO DEVELOP EFFECTIVE METHODS OF OUTREACH AND COMMUNICATION WITH AVONDALE RESIDENTS IN A WAY THAT INVITES THEM TO BE PART OF REDEVELOPMENT INITIATIVES BY USING VARIOUS FORMS OF MESSAGING TO CONNECT AND ENGAGE WITH OWNERS, RENTERS AND BUSINESSES, USING COMMUNITY ENGAGEMENT SESSIONS, PRINT AND ELECTRONIC FORMS OF COMMUNICATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russell Hairston Executive Dir. | Trustee | 40 | $100,473 |
April Gallelli Project Manager - Quality Of Life | 40 | $50,417 | |
Patrick Cartier Manager Communications Outreach | 40 | $47,460 | |
Maria Collins Real Estate Community Development | 40 | $47,460 | |
Henry Brown Trustee | Officer | 4 | $0 |
Royce Sutton Chairman | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $189,126 |
| All other contributions, gifts, grants, and similar amounts not included above | $93,836 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $282,962 |
| Total Program Service Revenue | $798,140 |
| Investment income | $0 |
| 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 | $1,081,102 |
| 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. | $68,953 |
| Compensation of current officers, directors, key employees. | $68,953 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $206,859 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $101,783 |
| Payroll taxes | $23,568 |
| Fees for services: Management | $59,659 |
| Fees for services: Legal | $8,150 |
| Fees for services: Accounting | $19,617 |
| 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 | $21,229 |
| Information technology | $13,759 |
| Royalties | $0 |
| Occupancy | $25,838 |
| Travel | $1,040 |
| 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 | $4,217 |
| Insurance | $1,656 |
| All other expenses | $5,780 |
| Total functional expenses | $1,001,703 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $210,547 |
| Savings and temporary cash investments | $37,806 |
| Pledges and grants receivable | $128,325 |
| Accounts receivable, net | $0 |
| 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 | $4,814 |
| Net Land, buildings, and equipment | $2,395,619 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $158,144 |
| Total assets | $2,935,255 |
| Accounts payable and accrued expenses | $99,799 |
| Grants payable | $1,474,488 |
| Deferred revenue | $960,527 |
| 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 | $99,970 |
| Total liabilities | $2,634,784 |
| Net assets without donor restrictions | $188,250 |
| Net assets with donor restrictions | $112,221 |
| 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 | $2,935,255 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Avondale Development Corporation has recieved totaling $376,353.
| Awarding Organization | Amount |
|---|---|
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $193,859 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $100,000 |
Homebase Cincinnati Cincinnati, OH PURPOSE: OPERATING & GENERAL | $42,792 |
Ohio Community Development Finance Fund Columbus, OH PURPOSE: PREDEVELOPMENT | $27,202 |
First Financial Foundation Cincinnati, OH PURPOSE: SUPPORT FOR THE AVONDALE HOME IMPROVEMENT PROGRAM. MATCH GRANT FOR HOME IMPROVEMENT. | $10,000 |
Molina Healthcare Charitable Foundation Wilmington, DE PURPOSE: THANKSGIVING FOOD DISTRIBUTION FUND | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harristown Development Corporation Harrisburg, PA | $29,766,695 | $19,028,512 |
The Center Of Workforce Innovations Inc Valparaiso, IN | $2,958,255 | $14,608,336 |
Community Action Of South Eastern West Virginia Bluefield, WV | $9,324,400 | $12,779,130 |
Cintrifuse Cincinnati, OH | $9,097,086 | $17,758,065 |
Walnut Hills Redevelopment Foundation Inc Cincinnati, OH | $7,399,538 | $1,025,062 |
Midtown Detroit Inc Detroit, MI | $6,098,841 | $4,938,478 |
Pittsburgh Downtown Partnership Pittsburgh, PA | $5,197,454 | $6,457,703 |
Bellvue Gardens Community Urban Redevelopment Corporation Cincinnati, OH | $29,237,042 | $3,964,847 |
Detriot Economic Growth Association Detroit, MI | $6,651,865 | $5,567,044 |
Enterprise Center Philadelphia, PA | $14,775,584 | $14,297,548 |
Pidc Community Capital Philadelphia, PA | $51,592,924 | $9,506,766 |
Downtown Cleveland Improvementcorporation Cleveland, OH | $5,269 | $4,399,889 |