Columbus Downtown Development Corporation
- Assets
- $118.7m
- Revenue
- $12.1m
- Investments
- $0.0
- Employees
- 13
- Location
- Columbus, OH
- Founding
- 10/2002
- Data as of
- 12/2021
- 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 12/2021, Columbus Downtown Development Corporation employed 13 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 12/2021, Columbus Downtown Development Corporation generated $12.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (14.0%) each year. All expenses for the organization totaled $11.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (8.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Columbus Downtown Development Corporation has awarded 24 individual grants totaling $67,392,298. 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
2021
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 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. 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. PHASE 1 OFFICE, RESIDENTIAL AND HOTEL SITES ARE EXPECTED TO OPEN IN 2022.PLANNING AND DEVELOPMENT OF THE REMAINING COMPONENTS OF THE SCIOTO PENINSULA MASTER PLAN WILL CONTINUE INTO 2022 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 PLANS TO DEVELOP 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. THE FACILITY IS EXPECTED TO OPEN IN 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. A FINAL PLAN IS EXPECTED TO BE ISSUED IN LATE 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Guy V Worley President & CEO (thru 5/2021) | Officer | 20 | $445,166 |
Amy E Taylor Coo/president (begin 6/2021) | Officer | 20 | $183,761 |
Matthew Lutz Asst. Secretary/general Co | Officer | 20 | $138,024 |
Joseph Schueler CFO | Officer | 20 | $125,437 |
Mark Bargo Director Of Construction | 20 | $97,805 | |
Gregory J Davies CEO (begin 6/2021) | Officer | 20 | $63,162 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Emh&t Engineering | 12/30/21 | $290,197 |
Moody Nolan Inc Construction | 12/30/21 | $267,935 |
George J Igel & Co Inc Construction | 12/30/21 | $247,144 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $3,584,193 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $30,098 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,614,291 |
| Total Program Service Revenue | $8,276,035 |
| Investment income | $72,077 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $99,761 |
| Net Gain/Loss on Asset Sales | -$30,417 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,117,471 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $876,595 |
| 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. | $1,587,165 |
| Compensation of current officers, directors, key employees. | $476,149 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $430,617 |
| Pension plan accruals and contributions | $13,867 |
| Other employee benefits | $59,363 |
| Payroll taxes | $240,539 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $127,696 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $42,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $251,428 |
| Advertising and promotion | $73,351 |
| Office expenses | $70,628 |
| Information technology | $50,461 |
| Royalties | $0 |
| Occupancy | $303,067 |
| Travel | $6,261 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,640 |
| Interest | $646,256 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,613,375 |
| Insurance | $37,711 |
| All other expenses | $15,845 |
| Total functional expenses | $11,174,134 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,348,287 |
| Savings and temporary cash investments | $9,231,103 |
| Pledges and grants receivable | $333,000 |
| Accounts receivable, net | $287,813 |
| Loans from Officers, Directors, or Controlling Persons | $238,628 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $81,514 |
| Net Land, buildings, and equipment | $78,213,920 |
| Investments—publicly traded securities | $1,777,824 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,198,634 |
| Total assets | $118,710,723 |
| Accounts payable and accrued expenses | $2,005,186 |
| Grants payable | $333,000 |
| Deferred revenue | $2,255 |
| Tax-exempt bond liabilities | $10,762,375 |
| 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 | $13,102,816 |
| Net assets without donor restrictions | $100,220,300 |
| Net assets with donor restrictions | $5,387,607 |
| 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 | $118,710,723 |
Grants Awarded
Over the last fiscal year, Columbus Downtown Development Corporation has awarded $626,116 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Columbus, OH PURPOSE: GENERAL OPERATIONS. | $515,016 |
Columbus, OH PURPOSE: BOARD MEMBERSHIP. | $50,000 |
Columbus, OH PURPOSE: RAPID 5 PROJECT SPONSORSHIP | $20,000 |
Columbus, OH PURPOSE: CC HOLIDAY LIGHTS | $20,000 |
Columbus, OH PURPOSE: WARMING CENTER OPERATION CONTRIBUTION | $13,600 |
GREATER COLUMBUS SPORTS COMMISSION -GREATER COLUMBUS CONV & VISITORS BUREAU Org PageRecipient ProfileColumbus, OH PURPOSE: CORPORATE PARTNERSHIP. | $7,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Columbus Downtown Development Corporation has recieved totaling $191,825.
| Awarding Organization | Amount |
|---|---|
Columbus Foundation Columbus, OH PURPOSE: URBAN AFFAIRS | $191,825 |
Endowment Analysis
| Beg. Balance | $12,422,811 |
| Earnings | $2,380,343 |
| Admin Expense | $27,031 |
| Grants | $191,825 |
| Ending Balance | $14,584,298 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Marshall University Research Corporation Huntington, WV | $66,297,155 | $55,595,334 |
Pidc-Developement Management Corporation Philadelphia, PA | $0 | $30,722,052 |
16 Tech Community Corporation Indianapolis, IN | $90,414,871 | $43,820,376 |
Delaware River Waterfront Corporation Philadelphia, PA | $26,551,411 | $24,883,136 |
T R W I B Inc Pittsburgh, PA | $14,392,055 | $22,959,509 |
Invest Detroit Foundation Detroit, MI | $154,389,743 | $12,808,930 |
Wright Brothers Institute Inc Dayton, OH | $23,307,656 | $22,085,089 |
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
The Convention And Visitors Bureau Of Greater Cleveland Inc Cleveland, OH | $25,296,918 | $17,425,666 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |