Community Improvement Corporation Of Fairlawn Ohio
- Assets
- $989.8k
- Revenue
- $670.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Fairlawn, OH
- Founding
- 07/2014
- Data as of
- 12/2021
- EIN
- 80-0828055
Organization Overview
Community Improvement Corporation Of Fairlawn Ohio is located in Fairlawn, 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. Community Improvement Corporation Of Fairlawn Ohio 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, Community Improvement Corporation Of Fairlawn Ohio generated $670.8k 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 (5.5%) each year. All expenses for the organization totaled $10.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (40.7%) per year over the past 7 years. 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
THE CORPORATION WAS ORGANIZED UNDER OHIO REVISED CODE CHAPTER 1724 FOR THE PURPOSE OF ADVANCING, ENCOURAGING, AND PROMOTING THE INDUSTRIAL, ECONOMIC, COMMERCIAL, AND CIVIC DEVELOPMENT OF FAIRLAWN, OHIO AND TO FACILITATE THE RECLAMATION, REHABILITATION, AND RE-UTILIZATION OF REAL PROPERTY IN THE CITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ADVANCE, ENCOURAGE, AND PROMOTE THE INDUSTRIAL, ECONOMIC, COMMERCIAL, AND CIVIC DEVELOPMENT OF THE CITY OF FAIRLAWN. THE CORPORATION MADE DEVELOPMENT GRANT PAYMENTS TO A RISK MANAGEMENT FIRM TO REIMBURSE THE FIRM FOR THE COST OF PARKING AND INTERIOR EXPANSIONS. GRANT PAYMENTS ARE CONTINGENT UPON THE MAINTENANCE OF EMPLOYMENT LEVELS AT THE FIRM PER A WRITTEN GRANT AGREEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Sisler Vice-President | Officer | 0.1 | $0 |
Christopher Tipping President | Officer | 0.1 | $0 |
Jonathon Groza Secretary | Officer | 0.1 | $0 |
Raymond Lampner Treasurer | Officer | 0.1 | $0 |
William Roth Trustee | Trustee | 0.1 | $0 |
Russell Sharnsky Trustee | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $670,500 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $286 |
| Noncash contributions included in lines 1a–1f | $670,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $670,786 |
| Total Program Service Revenue | $0 |
| 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 | $670,786 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,333 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $60 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $2,421 |
| All other expenses | $0 |
| Total functional expenses | $10,814 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,874 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $100 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $970,500 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,350 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $989,824 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $989,824 |
| 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 | $989,824 |
Grants Awarded
Over the last fiscal year, Community Improvement Corporation Of Fairlawn Ohio has awarded $437,033 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF FAIRLAWN PURPOSE: Economic development | $428,700 |
RISK INTERNATIONAL PURPOSE: Work force development | $8,333 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metropolitan Detroit Convention & Vistors Bureau Detroit, MI | $36,765,048 | $14,015,809 |
Alleghenies Planning And Development Commission Altoona, PA | $25,721,818 | $9,986,298 |
Greater Philadelphia Tourism Marketing Corporation Philadelphia, PA | $11,403,385 | $8,019,397 |
Detroit Economic Growth Corp Detroit, MI | $7,209,211 | $10,420,774 |
Lawrence Economic Development Corporation South Point, OH | $62,339,240 | $9,945,474 |
Dauphin County Economic Development Corporation Harrisburg, PA | $8,424,591 | $10,449,757 |
Ben Franklin Technology Partners Of Northeastern Pennsylvania Inc Bethlehem, PA | $58,069,128 | $6,233,285 |
Southwest Michigan First Corporation Kalamazoo, MI | $10,945,070 | $8,560,798 |
Wenonah Park Properties Inc Bay City, MI | $22,411,152 | $7,079,713 |
Applied Research Institute Bloomington, IN | $3,329,526 | $9,074,163 |
Grand Rapids-Kent Cty Convention Center & Vistors Bureau Grand Rapids, MI | $10,130,209 | $9,465,987 |
Greater Pittsburgh Convention & Visitors Bureau Inc Pittsburgh, PA | $10,210,665 | $8,196,256 |