Block 3 Community Urban Redevelopment Corporation

Organization Overview

Block 3 Community Urban Redevelopment Corporation is located in Cincinnati, OH. The organization was established in 2003. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Block 3 Community Urban Redevelopment 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 07/2021, Block 3 Community Urban Redevelopment Corporation generated $7.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $7.0m during the year ending 07/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

REDEVELOPMENT OF BLIGHTED URBAN AREAS BY DEVELOPMENT OF REAL PROPERTY PRIMARILY FOR STUDENT HOUSING.

Describe the Organization's Program Activity:

THE ORGANIZATION ISSUED BONDS PRIMARILY FOR THE CONSTRUCTION OF STUDENT HOUSING. THE EXPENSE REFLECTS THE INTEREST EXPENSE ON THE BONDS AND INTEREST ON THE SUBORDINATE LOAN TO THE UNIVERSITY OF CINCINNATI.


THE ORGANIZATION PROVIDES STUDENT HOUSING FOR STUDENTS OF THE UNIVERSITY OF CINCINNATI. THE ORGANIZATION HAS ATTRACTED A SUBSTANTIAL NUMBER OF STUDENTS WHO RESIDE AT THE ORGANIZATION'S HOUSING FACILITY.


THE ORGANIZATION CONSTRUCTED STUDENT HOUSING. THE EXPENSE REFLECTS THE DEPRECIATION EXPENSE ON THE STUDENT HOUSING BUILDING.


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Board, Officers & Key Employees

Name (title)Compensation
Tom Erbeck
Secretary
$0
Megan Smith
Treasurer
$0
Daniel Deering
President
$0
John Dubois
Vice President
$0
Matthew Bourgeois
Director
$0
Chip Kussmaul
Trustee
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Education Realty Trust
Management Services
$246,310
Ams Construction
Construction
$153,964
View All Vendors

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$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$7,511,552
Investment income $175,548
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $131,912
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 $7,948,144

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