Carmel Midtown Community Development Corporation
- Assets
- $15.2m
- Revenue
- $481.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Carmel, IN
- Founding
- Data as of
- 12/2023
- EIN
- 83-2549004
Organization Overview
Carmel Midtown Community Development Corporation is located in Carmel, IN. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carmel Midtown Community Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2023, Carmel Midtown Community Development Corporation generated $481.4k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 54.8% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CARMEL MIDTOWN COMMUNITY DEVELOPMENT CORPORATION SEEKS TO IMPROVE CONDITIONS IN THE CITY OF CARMEL THROUGH REDEVELOPMENT, SPECIFICALLY BY FINANCING CONSTRUCTION PROJECTS THAT FURTHER ECONOMIC AND CULTURAL STANDARDS AROUND THE CITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANT FROM CARMEL MIDTOWN COMMUNITY DEVELOPMENT CORPORATION (CMCDC) TO BRIDGES II DEVELOPMENT TO CONSTRUCT, REHABILITATE, OR REPAIR COMMERCIAL PROPERTY AT CERTAIN REAL ESTATE PURSUANT TO INDIANA CODE 36-7-14-12.2.
GRANTS FROM CARMEL MIDTOWN COMMUNITY DEVELOPMENT CORPORATION (CMCDC) TO ALOFT HOTEL TO CONSTRUCT, REHABILITATE, OR REPAIR COMMERCIAL PROPERTY AT CERTAIN REAL ESTATE LOCATED AT 10101 N MERIDIAN ST. IN CARMEL, INDIANA, PURSUANT TO INDIANA CODE 36-7-14-12.2.
GRANTS FROM CARMEL MIDTOWN COMMUNITY DEVELOPMENT CORPORATION (CMCDC) TO STUDIO M TO CONSTRUCT, REHABILITATE, OR REPAIR COMMERCIAL PROPERTY AT CERTAIN REAL ESTATE LOCATED AT 275 VETERANS WAY IN CARMEL, INDIANA, PURSUANT TO INDIANA CODE 36-7-14-12.2.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raju Chintala President | Officer | 1 | $0 |
Miriam Dant Vice President | Officer | 1 | $0 |
Michael Stiehl Secretary | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $460,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $460,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $21,399 |
| 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 | $481,399 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $520,000 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,932 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $539,981 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $95,828 |
| 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 | $15,099,799 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,195,627 |
| 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 | $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 | $15,099,799 |
| Retained earnings, endowment, accumulated income, or other funds | $95,828 |
| Total liabilities and net assets/fund balances | $15,195,627 |
Grants Awarded
Over the last fiscal year, Carmel Midtown Community Development Corporation has awarded $520,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
VETERANS WAY LLC PURPOSE: To facilitate commercial development in an area deemed fit for redevelopment, pursuant to IC 36-7-14-12.2. | $60,000 |
CARMEL HOTELS LLC PURPOSE: To facilitate commercial development in an area deemed fit for redevelopment, pursuant to IC 36-7-14-12.2. | $60,000 |
BRIDGES II PURPOSE: To facilitate commercial development in an area deemed fit for redevelopment, pursuant to IC 36-7-14-12.2. | $400,000 |