Cintrifuse
- Assets
- $9.1m
- Revenue
- $17.8m
- Investments
- $1.3m
- Employees
- 40
- Location
- Cincinnati, OH
- Founding
- 05/2014
- Data as of
- 12/2021
- EIN
- 45-5423994
Organization Overview
Cintrifuse is located in Cincinnati, OH. The organization was established in 2014. 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, Cintrifuse employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cintrifuse 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, Cintrifuse generated $17.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 36.8% each year . All expenses for the organization totaled $13.2m during the year ending 12/2021. While expenses have increased by 33.3% 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 CULTIVATE, ACCELERATE AND PROMOTE THE FORMATION OF BUSINESS, CREATION OF JOBS AND ASSIST IN THE REVITALIZATION OF THE CINCINNATI REGION AND TO CONDUCT ACTIVITIES CONSISTENT WITH SUCH PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STARTUP, VENTURE & INNOVATION PROGRAMS - CINTRIFUSE ENABLES THE ACTIVATION, DEVELOPMENT, AND GROWTH OF STARTUPS BY STRATEGICALLY LEVERAGING AND CONNECTING A NETWORK OF PARTNERS, ALL COMMITTED TO EXPANDING INNOVATION AND ENTREPRENEURSHIP ACROSS THE REGION. THE ORGANIZATION PROVIDES A REGIMEN OF EDUCATIONAL AND PROGRAMMATIC SERVICES TO ENTREPRENEURS AND START-UPS INCLUDING SPEAKER SERIES, INNOVATION EXCHANGES AND DEVELOPMENT. FOR VENTURE CAPITAL FUNDS THAT COME TO THE GREATER CINCINNATI AREA, THE ORGANIZATION PROVIDES AN INTRODUCTION TO THE ECOSYSTEM, BY PROVIDING CONNECTIONS TO START-UPS, AND ESTABLISHED COMPANIES, BY PROVIDING WORKSHOPS RELATING TO VALUATION AND OTHER ISSUES TO GET COMPANIES, WHO ARE SEED STAGE TO SERIES B STAGE, READY FOR THE CONVERSATIONS WITH POTENTIAL FUNDERS.
UNION HALL - THE ORGANIZATION PROVIDES OFFICE SPACE IN A DOWNTOWN CINCINNATI LOCATION, WITH PROXIMITY TO OTHER ENTREPRENEURS, FOR START-UP ENTITIES TO HAVE ACCESS TO OTHER START-UPS ALLOWING FOR COLLABORATION AND TO PROMOTE TEAMS. HIGH SPEED WIRELESS INTERNET AND OTHER COMMON AMENITIES ARE PROVIDED WITHIN THE SPACE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Blackshaw CEO | Officer | 40 | $417,012 |
John Stieger COO | Officer | 40 | $215,541 |
Oleg Kaganovich Fund Manager | 40 | $215,183 | |
Alisa Smith Director | Officer | 40 | $180,400 |
Eric Weissmann Vice Presid | Officer | 40 | $132,144 |
Mark Wood Manager | 40 | $122,745 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $7,975 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,554,431 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,369,136 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,931,542 |
| Total Program Service Revenue | $321,999 |
| Investment income | -$51,161 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $452,112 |
| 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 | $17,758,065 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $84,000 |
| 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. | $839,679 |
| Compensation of current officers, directors, key employees. | $162,756 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $414,158 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $103,700 |
| Payroll taxes | $90,189 |
| Fees for services: Management | $165,794 |
| Fees for services: Legal | $67,743 |
| Fees for services: Accounting | $31,267 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $33,602 |
| Office expenses | $40,494 |
| Information technology | $140,655 |
| Royalties | $0 |
| Occupancy | $362,355 |
| Travel | $4,449 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37,754 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,732 |
| Insurance | $69,427 |
| All other expenses | $2,415 |
| Total functional expenses | $13,152,797 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,741,386 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $544,367 |
| Accounts receivable, net | $3,265 |
| 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 | $98,804 |
| Net Land, buildings, and equipment | $3,550,504 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,266,957 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,891,803 |
| Total assets | $9,097,086 |
| Accounts payable and accrued expenses | $116,402 |
| Grants payable | $0 |
| Deferred revenue | $110,436 |
| 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 | $165,039 |
| Total liabilities | $391,877 |
| Net assets without donor restrictions | $8,705,209 |
| 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 | $9,097,086 |
Grants Awarded
Over the last fiscal year, Cintrifuse has awarded $75,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
SIGO TECHNOLOGIES INC PURPOSE: PITCH COMPETITION PRIZE MONEY | $35,000 |
RENAVATE INC PURPOSE: PITCH COMPETITION PRIZE MONEY | $25,000 |
LEAPING HARTS INC PURPOSE: PITCH COMPETITION PRIZE MONEY | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Cintrifuse has recieved totaling $233,000.
| Awarding Organization | Amount |
|---|---|
Greater Cincinnati Foundation Cincinnati, OH PURPOSE: GENERAL PURPOSE | $150,000 |
Cincinnati Regional Business Committee Cincinnati, OH PURPOSE: TO FURTHER THE ORGANIZATIONS PURPOSE. | $75,000 |
Main Street Ventures Cincinnati, OH PURPOSE: SEED FUNDING | $8,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Capitol South Community Urban Redevelopment Corporation Columbus, OH | $40,052,734 | $27,422,003 |
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 |