Urban Community Developers Inc
- Assets
- $973.5k
- Revenue
- $500.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Covington, KY
- Founding
- 04/2018
- Data as of
- 12/2021
- EIN
- 82-3002447
Organization Overview
Urban Community Developers Inc is located in Covington, KY. The organization was established in 2018. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Urban Community Developers Inc 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, Urban Community Developers Inc generated $500.0k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 49.5% each year . All expenses for the organization totaled $173.4k during the year ending 12/2021. While expenses have increased by 40.3% per year over the past 4 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
THE CORPORATION IS ORGANIZED FOR THE PURPOSE OF ELIMINATING BLIGHT AND REVITALIZING NORTHERN KENTUCKY'S URBAN CORE NEIGHBORHOODS IN THE CITIES OF COVINGTON AND NEWPORT, THROUGH ACTIVITIES INCLUDING MAKING AND FACILITATING TARGETED INVESTMENTS IN REAL ESTATE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRESIDENT/CHIEF EXECUTIVE OFFICER RESIGNED DURING THE FIRST QUARTER 2021. THE BOARD PROGRAM HAS PURCHASED LAND AND IS CURRENTLY IN THE PROCESS OF BUILDING ANOTHER HOUSE ON PHILADELPHIA STREET IN COVINGTON, KY. PLANS HAVE BEEN FINALIZED FOR 9 MORE HOMES TO BE STARTED IN THE NEAR FUTURE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Luke Woerner Vice President | Officer | 40 | $72,000 |
William Sanderson CEO (term End 02/21) | Officer | 40 | $37,500 |
William P Butler President | OfficerTrustee | 0.5 | $0 |
Martin C Butler Treasurer | OfficerTrustee | 0.5 | $0 |
Leigh R Buse Secretary | Officer | 0.5 | $0 |
Jeanne Schroer Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $500,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $500,000 |
| 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 | $500,000 |
| 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. | $117,000 |
| 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 | $4,252 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $32,750 |
| Advertising and promotion | $0 |
| Office expenses | $100 |
| Information technology | $1,112 |
| Royalties | $0 |
| Occupancy | $390 |
| Travel | $381 |
| 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 | $6,977 |
| Insurance | $9,194 |
| All other expenses | $1,256 |
| Total functional expenses | $173,412 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $328,181 |
| 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 | $624,303 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $6,990 |
| Other assets | $14,000 |
| Total assets | $973,474 |
| Accounts payable and accrued expenses | $4,313 |
| Grants payable | $0 |
| Deferred revenue | $14,000 |
| 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 | $247,500 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $265,813 |
| 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 | $707,661 |
| Total liabilities and net assets/fund balances | $973,474 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Urban Community Developers Inc has recieved totaling $500,000.
| Awarding Organization | Amount |
|---|---|
Horizon Community Funds Of Northern Kentucky Inc Covington, KY PURPOSE: General Support | $500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Americans For Prosperity Arlington, VA | $36,122,323 | $113,776,550 |
Cincinnati Center City Development Corporation Cincinnati, OH | $365,563,062 | $43,403,938 |
Gateway Economic Development Corporation Of Greater Cleveland Cleveland, OH | $401,423,840 | $30,122,951 |
Capitol South Community Urban Redevelopment Corporation Columbus, OH | $40,052,734 | $27,422,003 |
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 |
World Business Chicago Chicago, IL | $9,302,792 | $9,942,081 |
Enlace Chicago Chicago, IL | $7,912,354 | $9,016,287 |
Carter Street Corporation Chattanooga, TN | $16,714,346 | $6,596,539 |
Venture Richmond Inc Richmond, VA | $7,025,585 | $5,575,003 |