Columbus Downtown Development Corporation
- Assets
- $124.8m
- Revenue
- $21.1m
- Investments
- $0.0
- Employees
- 17
- Location
- Columbus, OH
- Founding
- 10/2002
- Data as of
- 12/2022
- EIN
- 76-0704655
Organization Overview
Columbus Downtown Development Corporation is located in Columbus, OH. The organization was established in 2002. 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. As of 12/2022, Columbus Downtown Development Corporation employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Columbus Downtown 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 12/2022, Columbus Downtown Development Corporation generated $21.1m 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 (6.0%) each year. All expenses for the organization totaled $14.7m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.9%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Columbus Downtown Development Corporation has awarded 29 individual grants totaling $68,056,779. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
CDDC CONTINUES WITH THE IMPLEMENTATION OF THE 2010 STRATEGIC BUSINESS PLAN DEVELOPED WITH COMMUNITY INPUT AND PROMULGATED BY THE MAYOR AND CITY COUNCIL. THESE EFFORTS INCLUDE THE RENOVATION OF A FORMER DOWNTOWN DEPARTMENT STORE INTO PREMIER OFFICE AND RETAIL SPACE, DEVELOPMENT OF DOWNTOWN PARKS THROUGH THE OVERSIGHT OF THE SCIOTO MILE PARK AND THE SCIOTO GREENWAYS PROJECT, THE CONSTRUCTION OF A NEW NATIONAL VETERANS MEMORIAL AND MUSEUM AND THE DEVELOPMENT OF THE DOWNTOWN SCIOTO PENINSULA. IN NOVEMBER 2018, CDDC'S SUBSIDIARY SP HOLDINGS ENTERED INTO SEPARATE PURCHASE, SALE AND DEVELOPMENT AGREEMENTS WITH THREE DEVELOPERS FOR DEVELOPMENT SITES ON SCIOTO PENINSULA PROPERTY THE CORPORATION AND SP HOLDINGS ARE LEASING FROM THE CITY. SEE SCHEDULE O.THE SALES OF THESE SITES WERE COMPLETED IN SEPTEMBER 2020. THE DEVELOPERS OF THE PHASE 1 OFFICE, HOTEL AND RESIDENTIAL SITES STARTED CONSTRUCTION IN 2021. THE PHASE 1 OFFICE SITE OPENED IN 2022, WHILE THE RESIDENTIAL AND HOTEL SITES ARE EXPECTED TO OPEN IN 2023.PLANNING AND DEVELOPMENT OF THE REMAINING COMPONENTS OF THE SCIOTO PENINSULA MASTER PLAN WILL CONTINUE INTO 2023 AND BEYOND.IN RESPONSE TO A PRIORITY IDENTIFIED BY THE CITY OF COLUMBUS, CDDC ACQUIRED .72 ACRES OF LAND AT 497 EAST TOWN STREET IN DOWNTOWN COLUMBUS IN FEBRUARY 2021. CDDC IS DEVELOPING A 98 UNIT AFFORDABLE AND WORKFORCE HOUSING PROJECT, TOPIARY PARK CROSSING, ON THE SITE. THE PROJECT IS BEING FUNDED THROUGH A COMMERCIAL REAL ESTATE LOAN, GRANTS FROM THE CITY OF COLUMBUS AND CAPITOL SOUTH AND AN EQUITY INVESTMENT FROM THE CORPORATION. CONSTRUCTION OF THE FACILITY STARTED IN 2022. THE FACILITY IS EXPECTED TO OPEN IN FALL OF 2023.IN 2021, THE CITY OF COLUMBUS REQUESTED CDDC TO LEAD THE DEVELOPMENT OF A NEW DOWNTOWN STRATEGIC PLAN. CDDC ENGAGED CONSULTANTS AND HAS SCHEDULED A SERIES OF PUBLIC FORUMS IN 2022 IN ORDER TO RECEIVE INPUT FROM DOWNTOWN STAKEHOLDERS AND THE GENERAL PUBLIC. THE FINAL PLAN WAS ISSUED IN LATE 2022. IMPLEMENTATION OF THE 2022 DOWNTOWN STRATEGIC PLAN WILL CONTINUE INTO 2023 AND BEYOND.IN 2022, CDDC AND THE CITY OF COLUMBUS ENTERED INTO A GRANT AGREEMENT WHICH PROVIDED CDDC THE FUNDING FOR THE PURCHASE OF THE DOWNTOWN YMCA AND THE PURCHASE OR RENOVATION OF OTHER REAL PROPERTY ASSETS IN DOWNTOWN COLUMBUS. CDDC ENTERED INTO A PURCHASE AND SALE AGREEMENT FOR THE YMCA IN OCTOBER 2022, WITH CLOSING OF THE PURCHASE EXPECTED TO BE COMPLETED IN EARLY 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alex Fischer Board Member/chair | OfficerTrustee | 0.3 | $0 |
Tim Robinson Board Member/vice Chair | OfficerTrustee | 0.3 | $0 |
Donald Brown Board Member/treasurer | OfficerTrustee | 0.3 | $0 |
Sandy Doyle-Ahern Board Member/secretary | OfficerTrustee | 0.3 | $0 |
Christie Angel Board Member | Trustee | 0.3 | $0 |
Frederic Bertley Board Member | Trustee | 0.3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
George J Igel & Co Inc Construction | 12/30/21 | $247,144 |
Moody Nolan Inc Construction | 12/30/21 | $267,935 |
Emh&t Engineering | 12/30/21 | $290,197 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,800,644 |
| All other contributions, gifts, grants, and similar amounts not included above | $95,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,895,644 |
| Total Program Service Revenue | $11,042,685 |
| Investment income | $90,398 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $16,402 |
| 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 | $21,128,443 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $860,578 |
| 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. | $1,388,554 |
| Compensation of current officers, directors, key employees. | $416,566 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $115,393 |
| Pension plan accruals and contributions | $37,358 |
| Other employee benefits | $88,860 |
| Payroll taxes | $136,217 |
| Fees for services: Management | $45,500 |
| Fees for services: Legal | $89,016 |
| Fees for services: Accounting | $28,700 |
| Fees for services: Lobbying | $33,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,017,281 |
| Advertising and promotion | $81,642 |
| Office expenses | $124,187 |
| Information technology | $64,390 |
| Royalties | $0 |
| Occupancy | $297,265 |
| Travel | $11,447 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,510 |
| Interest | $623,608 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,624,375 |
| Insurance | $42,000 |
| All other expenses | $23,956 |
| Total functional expenses | $14,664,270 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,350,765 |
| Savings and temporary cash investments | $16,570,594 |
| Pledges and grants receivable | $125,644 |
| Accounts receivable, net | $323,245 |
| Loans from Officers, Directors, or Controlling Persons | $535,090 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $147,488 |
| Net Land, buildings, and equipment | $84,009,145 |
| Investments—publicly traded securities | $1,864,205 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,857,815 |
| Total assets | $124,783,991 |
| Accounts payable and accrued expenses | $4,303,710 |
| Grants payable | $0 |
| Deferred revenue | $13,222 |
| Tax-exempt bond liabilities | $9,448,875 |
| 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 | $1,192,428 |
| Total liabilities | $14,958,235 |
| Net assets without donor restrictions | $103,790,205 |
| Net assets with donor restrictions | $6,035,551 |
| 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 | $124,783,991 |
Grants Awarded
Over the last fiscal year, Columbus Downtown Development Corporation has awarded $664,481 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF COLUMBUS PURPOSE: SUPPORT OPERATIONS, MAINTENANCE AND PROGRAMMING OF THE SCIOTO MILE PARK. | $100,401 |
NATIONAL VETERANS MEMORIAL AND MUSEUM OPERATING CORPORATION PURPOSE: GENERAL OPERATIONS. | $500,000 |
NATIONAL VETERANS MEMORIAL AND MUSEUM FOUNDATION PURPOSE: BOARD MEMBERSHIP. | $50,000 |
LEXI'S ON THIRD RESTAURANT PURPOSE: LUNCHBUCKS | $8,970 |
CINCO TACOS PURPOSE: LUNCHBUCKS | $5,110 |