Carmel Midtown Community Development Corporation

Organization Overview

Carmel Midtown Community Development Corporation is located in Carmel, IN. 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 12/2021, Carmel Midtown Community Development Corporation generated $18.8m in total revenue.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

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 OF LAND TO OLD TOWN HOLDINGS 1, LLC (OLD TOWN HOLDINGS) VIA PURCHASE OPTION CONTRACT, IN ORDER TO DEVELOP LAND IN THE MIDTOWN DISTRICT OF THE CITY OF CARMEL. CMCDC MAY PARTICIPATE IN COMMUNITY BASED ECONOMIC DEVELOPMENT PROJECTS PER INDIANA CODE 4-4-28-2. CMCDC DEVELOPED LAND (PROPERTY A) IN ACCORDANCE WITH INDIANA CODE 36-7-14-2, IN ORDER TO FACILITATE A LAND SWAP FOR PROPERTY DEEMED AS NEEDING REDEVELOPMENT (PROPERTY B) WITHIN CMCDC'S DISTRICT. CMCDC RECEIVED OWNERSHIP OF PROPERTY A, THEN TRANSFERRED THE TITLE TO THE ORIGINAL OCCUPANT OF PROPERTY B, STOCKBERGER (MILLER AUTO). IN EXCHANGE CMCDC RECEIVED TITLE OF PROPERTY B, AND GRANTED THE PROPERTY TO OLD TOWN HOLDINGS ON THE CONTINGENCY THAT A PROJECT WILL BE COMPLETED, WITHIN A CERTAIN TIME-FRAME, THAT WOULD BENEFIT THE PUBLIC HEALTH, SAFETY, MORALS, AND WELFARE; INCREASE THE ECONOMIC WELL OF; AND SERVE TO PROTECT AND INCREASE PROPERTY VALUES IN THE CITY.


PAYMENT FOR MURAL PAINTED BY ISRAEL SOLOMON THAT ENHANCES THE CULTURE OF THE CITY OF CARMEL.


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Board, Officers & Key Employees

Name (title)Compensation
Raju Chintala
President
$0
Miriam Dant
Vice President
$0
Michael Stiehl
Secretary
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $17,475,716
All other contributions, gifts, grants, and similar amounts not included above$1,184,653
Noncash contributions included in lines 1a–1f $16,270,318
Total Revenue from Contributions, Gifts, Grants & Similar$18,660,369
Total Program Service Revenue$0
Investment income $0
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $101,780
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 $18,762,149

Grants Awarded

Over the last fiscal year, Carmel Midtown Community Development Corporation has awarded $2,562,675 in support to 2 organizations.

Grant RecipientAmount

DOWNTOWN CITY CENTER DEVELOPMENT CORPORATION

PURPOSE: To finance projects that enhance and improve certain areas of the City of Carmel both economically and culturally, as is consistent with Indiana Code: 36-7-14-12.2.

$2,300,000

CITY OF CARMEL - REDEVELOPMENT COMMISSION

PURPOSE: Grant back rent proceeds.

$262,675
View Grant Profile

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