North Akron Community Development Corporation
- Assets
- $420.1k
- Revenue
- $719.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Akron, OH
- Founding
- 08/2017
- Data as of
- 12/2021
- EIN
- 82-1696531
Organization Overview
North Akron Community Development Corporation is located in Akron, OH. The organization was established in 2017. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, North Akron Community Development Corporation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Akron Community 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, North Akron Community Development Corporation generated $719.5k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 41.7% each year . All expenses for the organization totaled $572.8k during the year ending 12/2021. 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
IMPROVE AKRONS NORTHERN NEIGHBORHOODS
Describe the Organization's Program Activity:
Part 3 - Line 4a
NOHI - OPERATED A KITCHEN INCUBATOR HOSTING A DIFFERENT CULINARY ART ENTREPRENEUR EVERY WEEKEND. ALL EARNED REVENUE GOING TO ENTREPRENEURS.
MARKET HOUSE - RENOVATED A PROPERTY TO BECOME A WOMENS EMPOWERMENT CENTER FEATURING TWO MAKERSPACES AVAILABLE.
NACDC - OPERTATING AS A DRIVER OF ECONOMIC DEVELOPMENT IMPLEMENTING CREATIVE PLACEMAKING AND BUILDING SOCIAL COHESION. BACKYARD 771 NORTH MAIN ST DEVELOPMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Justin Chenault Inertim Executive Director | OfficerTrustee | 40 | $0 |
Stefano Nguma Treasurer | OfficerTrustee | 2 | $0 |
Jon Wolseth Boardmember | Trustee | 2 | $0 |
Samantha Byake Boardmember | Trustee | 2 | $0 |
Ruth Ottiger Boardmember | Trustee | 2 | $0 |
Patrick Grismer Boardmember | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $157 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $442,242 |
| All other contributions, gifts, grants, and similar amounts not included above | $46,222 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $488,621 |
| Total Program Service Revenue | $217,924 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $12,516 |
| 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 | $719,549 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $218,490 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,705 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,499 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $54,027 |
| Advertising and promotion | $18,792 |
| Office expenses | $9,957 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,615 |
| Travel | $498 |
| 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 | $11,094 |
| Insurance | $10,144 |
| All other expenses | $186,869 |
| Total functional expenses | $572,831 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $106,867 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $312,193 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,000 |
| Total assets | $420,060 |
| 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 | $39,922 |
| Total liabilities | $39,922 |
| Net assets without donor restrictions | $0 |
| 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 | $380,138 |
| Total liabilities and net assets/fund balances | $420,060 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that North Akron Community Development Corporation has recieved totaling $120,000.
| Awarding Organization | Amount |
|---|---|
Western Reserve Community Fund Inc Akron, OH PURPOSE: AFFORDABLE HOUSING | $50,000 |
Akron Community Foundation Akron, OH PURPOSE: TO SUPPORT AN ART INSTALLATION AT NORTH HILL HERITAGE COURTYARD ON HOWARD STREET | $50,000 |
Burton D Morgan Foundation Inc Hudson, OH PURPOSE: FOR ENTREPRENEURSHIP PROGRAMMING | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Urban Affairs Coalition Philadelphia, PA | $25,704,306 | $97,554,481 |
Impact Community Action Columbus, OH | $17,964,278 | $51,062,093 |
Reinvestment Fund Inc Philadelphia, PA | $609,259,384 | $44,624,452 |
Akron Summit Community Action Agency Akron, OH | $9,053,133 | $31,825,266 |
Hocking-Athens Perry Community Action Glouster, OH | $22,374,760 | $30,742,269 |
Capital Area Community Services Inc Lansing, MI | $6,281,706 | $28,298,422 |
Indianapolis Foundation Inc Indianapolis, IN | $352,748,809 | $43,731,535 |
Blueprints Washington, PA | $9,542,152 | $23,150,876 |
Pennyrile Allied Community Services Inc Hopkinsville, KY | $9,618,726 | $22,758,893 |
Jumpstart Inc Cleveland, OH | $82,356,707 | $21,511,113 |
Lexington Center Corporation Lexington, KY | $378,439,328 | $16,156,810 |
Corporation For Ohio Appalachian Development Athens, OH | $7,078,759 | $21,339,241 |