Cincinnati Center City Development Corporation is located in Cincinnati, OH. The organization was established in 2004. 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 12/2019, Cincinnati Center City Development Corporation employed 400 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2019, Cincinnati Center City Development Corporation generated $55.4m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $53.2m during the year ending 12/2019. While expenses have increased by 7.6% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO STRENGTHEN THE CORE ASSETS OF DOWNTOWN CINCINNATI, CREATE GREAT CIVIC SPACES, HIGH-DENSITY/MIXED-USE DEVELOPMENTS, AND PRESERVE HISTORIC STRUCTURES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OVER-THE-RHINE: 3CDC CONTINUED ITS SUMMER PROGRAMMING AT WASHINGTON PARK IN 2019, HIGHLIGHTED BY THE INCREASED POPULARITY OF THE DECK IN ITS FOURTH YEAR OF OPERATION. THE ORGANIZATION HOSTED MORE THAN 600 EVENTS AT THE PARK, DRAWING APPROXIMATELY 5 MILLION PEOPLE TO OTR. IN 2019, A PERMANENT ROOF WAS PUT UP OVER THE DECK, WHICH PROVIDES BETTER PROTECTION FROM THE ELEMENTS AND A PERMANENT BAR. WITH ANOTHER YEAR OF OPERATIONS, 3CDC HOSTED MORE THAN 280 VARIOUS EVENTS. 2019 SAW BOTH FREE AND TICKETED EVENTS AT MEMORIAL HALL. ZIEGLER PARK AND POOL CONTINUED TO GROW IN POPULARITY AND UTILIZATION IN IT'S SECOND FULL YEAR OF OPERATIONS. THE POOL SAW MORE THAN 41,000 SWIMMERS, INCLUDING 193 CHILDREN PARTICIPATING IN FREE SWIM LESSONS. THE ORGANIZATION ALSO BEGAN CONSTRUCTION ON ITS NEXT PHASE OF AN OVERALL AFFORDABLE HOUSING INITIATIVE, PERSERVERANCE AND WILLKOMMEN, WHICH WILL PRODUCE 104 AFFORDABLE HOUSING UNITS AND 20,000 SQUARE FEET OF NEW COMMERCIAL SPACE COMBINED.
FOUNTAIN SQUARE DISTRICT/CENTRAL BUSINESS DISTRICT: IN 2019, 3CDC HOSTED OVER 400 EVENTS AT FOUNTAIN SQUARE, WELCOMING OVER 7 MILLION VISITORS TO DOWNTOWN CINCINNATI. IN ADDITION, CONSTRUCTION CONTINUED ON A MIXED-USE DEVELOPMENT AT THE CORNER OF FOURTH & RACE THAT WILL YIELD 584 SPACE ABOVE-GRADE PARKING GARAGE, 22,000 SQUARE FEET OF STREET LEVEL COMMERCIAL SPACE AND A 264 UNIT APARTMENT BUILDING. THE GARAGE IS SET TO OPEN LATE 2020 AND THE COMMERCIAL/RESIDENTIAL IN 2021. ACROSS FROM THE COURT & WALNUT PROJECT, THE COURT STREET CONDOS PROJECT INCLUDED A TOTAL GUT RENOVATION OF 6 HISTORIC BUILDINGS TO CREATE 16 NEW RESIDENTIAL UNITS AND 5 COMMERCIAL SPACES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Stephen G Leeper President & CEO | OfficerTrustee | 45 | $634,150 |
Adam Gelter Evp, Development | Officer | 45 | $358,176 |
Timothy Szilasi Secy., Treas., Sr. VP & CFO | Officer | 45 | $247,022 |
Christy Vissman VP Events | 50 | $176,828 | |
Lann Field VP Development | Officer | 45 | $168,032 |
Angie White Controller | 50 | $128,687 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
The Turner Corporation Construction | 12/30/19 | $28,403,216 |
Triversity Contruction Co Llc Construction | 12/30/19 | $11,708,281 |
Megen Construction Construction | 12/30/19 | $2,968,564 |
Hgc Construction Construction | 12/30/19 | $4,577,854 |
Sp-plus Corporation Parking | 12/30/19 | $2,105,764 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $1,138,796 |
All other contributions, gifts, grants, and similar amounts not included above | $3,421,632 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $4,560,428 |
Total Program Service Revenue | $41,387,388 |
Investment income | $1,149,762 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $5,874,199 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $55,407,871 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $39,651 |
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. | $1,493,397 |
Compensation of current officers, directors, key employees. | $807,540 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $6,553,219 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $884,654 |
Payroll taxes | $504,410 |
Fees for services: Management | $489,732 |
Fees for services: Legal | $547,023 |
Fees for services: Accounting | $239,078 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $1,075,625 |
Advertising and promotion | $290,201 |
Office expenses | $982,268 |
Information technology | $392,122 |
Royalties | $0 |
Occupancy | $5,828,965 |
Travel | $91,152 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $9,701,442 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $9,547,773 |
Insurance | $633,591 |
All other expenses | $471,092 |
Total functional expenses | $53,200,478 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $32,554,549 |
Pledges and grants receivable | $1,005,928 |
Accounts receivable, net | $815,636 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $29,008,233 |
Inventories for sale or use | $5,270,687 |
Prepaid expenses and deferred charges | $5,960,519 |
Net Land, buildings, and equipment | $148,661,189 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $35,412,481 |
Intangible assets | $156,152,050 |
Other assets | $978,805 |
Total assets | $415,820,077 |
Accounts payable and accrued expenses | $11,091,306 |
Grants payable | $0 |
Deferred revenue | $38,437,759 |
Tax-exempt bond liabilities | $119,602,157 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $225,617,170 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $3,293,490 |
Total liabilities | $398,041,882 |
Net assets without donor restrictions | $16,317,035 |
Net assets with donor restrictions | $1,461,160 |
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 | $0 |
Total liabilities and net assets/fund balances | $415,820,077 |
Over the last fiscal year, Cincinnati Center City Development Corporation has awarded $9,540,957 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
Cincinnati, OH PURPOSE: General Support | $9,531,457 |
Cincinnati, OH PURPOSE: General Support | $9,500 |
Over the last fiscal year, we have identified 1 grants that Cincinnati Center City Development Corporation has recieved totaling $30,000.
Awarding Organization | Amount |
---|---|
First Financial Foundation Cincinnati, OH PURPOSE: SUPPORT FOR THE CINCINNATI OVER THE RHINE BUSINESS COMMUNITY WITH REPAIRS NECESSITATED BY THE RECENT PROTESTS AND RIOTS | $30,000 |
Organization Name | Assets | Revenue |
---|---|---|
Cincinnati Center City Development Corporation Cincinnati, OH | $415,820,077 | $55,407,871 |
Gateway Economic Development Corporation Of Greater Cleveland Cleveland, OH | $424,574,050 | $173,873,362 |
Harristown Development Corporation Harrisburg, PA | $25,881,661 | $17,816,451 |
The Center Of Workforce Innovations Inc Valparaiso, IN | $2,445,469 | $12,182,315 |
Capitol South Community Urban Redevelopment Corporation Columbus, OH | $45,457,882 | $10,329,899 |
Community Action Of South Eastern West Virginia Bluefield, WV | $5,847,925 | $11,230,671 |
Detriot Economic Growth Association Detroit, MI | $6,734,977 | $8,243,965 |
Midtown Detroit Inc Detroit, MI | $7,881,417 | $5,860,466 |
Pittsburgh Downtown Partnership Pittsburgh, PA | $3,838,301 | $5,537,192 |
Bellvue Gardens Community Urban Redevelopment Corporation Cincinnati, OH | $29,743,977 | $3,828,111 |
West Central Indiana Economic Development District Inc Terre Haute, IN | $1,787,345 | $4,813,414 |
The Columbus Partnership Columbus, OH | $2,474,421 | $4,605,006 |