Community Investment Corporation

Organization Overview

Community Investment Corporation is located in Tucson, AZ. The organization was established in 1997. 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. As of 12/2022, Community Investment Corporation employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Investment 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 12/2022, Community Investment Corporation generated $29.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 57.9% each year . All expenses for the organization totaled $31.0m during the year ending 12/2022. While expenses have increased by 60.0% per year over the past 8 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO CREATE A BETTER LIFE FOR THE RESIDENTS OF OUR COMMUNITY THROUGH VARIOUS PROGRAMS TARGETING ECONOMIC DEVELOPMENT OPPORTUNITIES. TO SECURE STRATEGIC INVESTMENTS IN OUR COMMUNITIES THAT SERVE PUBLIC PURPOSE, ENHANCE EMPLOYMENT OPPORTUNITIES, AND LEVERAGE ITS CAPITAL WITH A REASONABLE RATE OF RETURN.

Describe the Organization's Program Activity:

Part 3 - Line 4a

CIC PROVIDED LOANS AND FINANCIAL ASSISTANCE IN PIMA COUNTY AND THE INTERCONNECTED REGIONAL ECONOMY OF SOUTHERN ARIZONA TO BUSINESSES THAT WERE UNABLE TO OBTAIN SUCH THROUGH AND/OR THAT HAVE BEEN HISTORICALLY UNDERSERVED BY TRADITIONAL CAPITAL ACCESS INSTITUTIONS. LOANS WERE MADE ON THE BASIS OF SERVING THE PUBLIC PURPOSE OF SUPPORTING LOCAL AND REGIONAL ECONOMIC DEVELOPMENT WHICH INCLUDES BUSINESS AND EMPLOYMENT CREATION/RETENTION.


CIC ADMINISTERED A MAJORITY OF THE CITY OF TUCSON'S FEDERALLY FUNDED EVICTION PREVENTION ASSISTANCE IN 2022 THROUGH CONTRACTS WITH THE CITY OF TUCSON. THROUGH THE CREATION OF AN ONLINE PLATFORM, CIC FACILITATED OVER 25 MILLION IN DIRECT PAYMENTS TO LANDLORDS/PROPERTY MANAGERS ON BEHALF OF 4,876 ELIGIBLE TENANT HOUSEHOLDS AFFECTED BY COVID-19 OR THE ECONOMIC IMPACTS OF THE COVID-19 PANDEMIC. ADDITIONALLY, CIC ADMINISTERS DOWN PAYMENT ASSISTANCE PROGRAMS ON BEHALF OF THE PIMA AND TUCSON INDUSTRIAL DEVELOPMENT AUTHORITIES (IDAS) AND THE CITY OF TUCSON IN SUPPORT OF THE PUBLIC BENEFIT OF FIRST-TIME HOMEOWNERSHIP FOR MID- AND LOW-INCOME BUYERS AS WELL AS A MORTGAGE CREDIT CERTIFICATE PROGRAM ON BEHALF OF THE PIMA IDA WHICH REDUCES THE ONGOING COSTS OF OWNING A HOME THROUGH A FEDERAL TAX CREDIT.


CIC'S BOND COMPLIANCE PROGRAM SERVED 58 DIFFERENT PUBLIC SCHOOLS OR SCHOOL NETWORKS THROUGH 75 SEPARATE BOND AGREEMENTS GENERATING NEARLY 223,000 IN REVENUES. BOND COMPLIANCE SERVICES CONSIST OF SUPPORTING BOND RECIPIENTS (SCHOOLS) WITH THEIR CONTRACTUAL OBLIGATIONS TO PROVIDE CONTINUING DISCLOSURE INFORMATION TO THE ELECTRONIC MUNICIPAL MARKET ACCESS (EMMA) WEBSITE. THESE DISCLOSURES SERVE AN ESSENTIAL ROLE FOR A PROPERLY AND EFFICIENTLY FUNCTIONING BOND MARKET BY ENHANCING TRANSPARENCY FOR INVESTORS AND IN THE BOND MARKET AT LARGE, AS WELL AS HELPING PRESERVE/ENHANCE SCHOOLS' BOND RATINGS.


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Board, Officers & Key Employees

Name (title)Compensation
Daniel Knee
Executive Di
$132,716
Caroline Nelson
Chief Operat
$107,584
Nicholas Henry
Chief Strate
$93,552
John H Payne
President
$0
Steven Russo
Corporate Co
$0
Kenneth M Silverman
Treasurer
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Family Housing Resources Inc
Case Workers
$252,331
The Temp Connection
Staffing Svcs
$236,206
Dataworks Llc
It Services
$199,225
Robert Half Inc
Staffing Svcs
$165,829
Sunnyside Usd Foundation
Case Workers
$165,700
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $28,367,294
All other contributions, gifts, grants, and similar amounts not included above$137,200
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$28,504,494
Total Program Service Revenue$585,729
Investment income $21,290
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 $29,133,218

Peer Organizations

Organization NameAssets
Accion Opportunity Fund Community Development
San Jose, CA
$58,948,332
Community Investment Corporation
Tucson, AZ
$29,133,218
Cplc Texas Inc
Phoenix, AZ
$17,373,597
Mission Asset Fund
San Francisco, CA
$8,886,025
Rocky Mountain Community Reinvestment Corporation
Salt Lake City, UT
$16,862,552
Civic San Diego
San Diego, CA
$8,835,597
Colorado Enterprise Fund Inc
Denver, CO
$18,269,112
Csac Finance Corporation
Sacramento, CA
$8,866,567
Local First Arizona Foundation
Phoenix, AZ
$6,889,263
Ampac Tri-State Cdc Inc
Ontario, CA
$6,017,426
Genesis La Economic Growth Corporation
Los Angeles, CA
$12,696,966
Urban Corps Inc
San Diego, CA
$0
Greater Ontario Convention And Visitors Bureau
Ontario, CA
$5,343,606
Accessity
San Diego, CA
$6,158,404
Inclusive Action For The City
Los Angeles, CA
$5,011,566
Business Development Finance Corporation
Tucson, AZ
$4,460,265
City Heights Community Development Corporation
San Diego, CA
$3,570,483
Economic Development Collaborative Ventura County
Camarillo, CA
$3,851,536
Sustainable Economic Enterprises Of Los Angeles
Los Angeles, CA
$3,130,946
Historic Core Business Improvement District Property Owners Assoc Inc
Los Angeles, CA
$2,795,778
Insight Center For Community Economic Development
Oakland, CA
$2,452,519
Tule River Economic Development Corporation
Porterville, CA
$1,571,590
150 Hooper Inc
San Francisco, CA
$1,901,190
Los Angeles Neighborhood Initiative
Los Angeles, CA
$2,836,547
Phoenix Community Development And Investment Corporation
Phoenix, AZ
$3,772,700

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