King Highland Community Redevelopment Corporation
- Assets
- $32.8m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Cincinnati, OH
- Founding
- 06/2005
- Data as of
- 06/2021
- EIN
- 20-1553686
Organization Overview
King Highland Community Redevelopment Corporation is located in Cincinnati, OH. The organization was established in 2005. According to its NTEE Classification (P99) the organization is classified as: Human Services N.E.C., under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. King Highland Community 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 06/2021, King Highland Community Redevelopment Corporation generated $2.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.9%) each year. All expenses for the organization totaled $4.0m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZED FOR THE PURPOSE OF COMBATING COMMUNITY DETERIORATION, ADVANCING EDUCATION, AND LESSENING THE BURDEN OF GOVERNMENT IN A BLIGHTED AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONSTRUCTION / REHABILITATION OF COMMERCIAL BUILDINGS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Ealy Secretary | OfficerTrustee | 1 | $0 |
Burgess Doan President | OfficerTrustee | 1 | $0 |
Megan Smith Treasurer | OfficerTrustee | 1 | $0 |
Daniel Luther Executive Director | OfficerTrustee | 20 | $0 |
Safi Safi Trustee | Trustee | 1 | $0 |
David Averion Trustee | Trustee | 1 | $0 |
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 | $2,791,239 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$10,945 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,909,928 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $104,563 |
| 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 | $194,418 |
| Advertising and promotion | $0 |
| Office expenses | $4,798 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $554,115 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,577,150 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,152,049 |
| Insurance | $57,183 |
| All other expenses | $0 |
| Total functional expenses | $3,975,852 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $155,224 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,976 |
| 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 | $29,655 |
| Net Land, buildings, and equipment | $31,648,262 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $4,021 |
| Other assets | $980,795 |
| Total assets | $32,830,933 |
| Accounts payable and accrued expenses | $248,482 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $37,585,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,110,624 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $17,359 |
| Total liabilities | $38,961,465 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | -$6,130,532 |
| Total liabilities and net assets/fund balances | $32,830,933 |
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