Community Initiatives Development Corporation
- Assets
- $81.7m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 3
- Location
- Lakewood Ranch, FL
- Founding
- 07/1994
- Data as of
- 12/2021
- EIN
- 23-2746544
Organization Overview
Community Initiatives Development Corporation is located in Lakewood Ranch, FL. The organization was established in 1994. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Community Initiatives Development Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Initiatives Development 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 12/2021, Community Initiatives Development Corporation generated $5.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (12.5%) each year. All expenses for the organization totaled $3.4m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (23.6%) per year over the past 7 years. 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
ASSISTING MUNICIPALITIES TO AID RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSIST MUNICIPALITIES FOR ECONOMIC DEVELOPMENT OR AFFORDABLE HOUSING AND TO LESSEN THE BURDENS OF LOCAL GOVERNMENTS TO SERVICE THE NEEDS OF THEIR RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Loewenstein President | OfficerTrustee | 40 | $144,700 |
Frances Brandt Director | Trustee | 35 | $54,600 |
Anthony Marshall Treasurer | OfficerTrustee | 0.25 | $0 |
Timothy Warfield Secretary | OfficerTrustee | 0.5 | $0 |
Sandie Foland Director | Trustee | 0.5 | $0 |
James Laurenzo Chairman | Trustee | 0.5 | $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 | $3,562,918 |
| Investment income | $2,055 |
| 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 | $5,207,829 |
| 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. | $199,300 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,842 |
| Pension plan accruals and contributions | $28,549 |
| Other employee benefits | $0 |
| Payroll taxes | $16,202 |
| Fees for services: Management | $0 |
| 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 | $87,301 |
| Advertising and promotion | $0 |
| Office expenses | $2,999 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $15,193 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,515,253 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,305,666 |
| Insurance | $39,999 |
| All other expenses | $0 |
| Total functional expenses | $3,389,309 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,692,062 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,481 |
| 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 | $117,525 |
| Net Land, buildings, and equipment | $77,095,764 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $31,505 |
| Intangible assets | $0 |
| Other assets | $789,634 |
| Total assets | $81,733,971 |
| Accounts payable and accrued expenses | $49,334 |
| Grants payable | $0 |
| Deferred revenue | $6,016,336 |
| Tax-exempt bond liabilities | $71,356,351 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $700,000 |
| Unsecured mortgages and notes payable | $1,126,365 |
| Other liabilities | $2,940,332 |
| Total liabilities | $82,188,718 |
| Net assets without donor restrictions | -$454,747 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $81,733,971 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Community Initiatives Development Corporation has recieved totaling $200,464.
| Awarding Organization | Amount |
|---|---|
Homeless Services Network Of Central Florida Inc Orlando, FL PURPOSE: THIS GRANT PROVIDES FUNDING FOR THE SUPPORTIVE SERVICES AND OPERATIONAL EXPENSES FOR THE COMMUNITY BASED CARE OF CENTRAL FLORIDA SERVICES FOR HOMELESS AND CHRONICALLY HOMELESS INDIVIDUALS AND FAMILIES WITH CHILDREN. | $200,464 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sunrise Northeast Inc Miami, FL | $3,715,475 | $18,670,620 |
Affordable Housing Preservation Corporation St Augustine, FL | $540,750,555 | $2,294,342 |
Preservation Housing Inc Mobile, AL | $45,095,355 | $8,020,455 |
Nonprofit Housing Preservations Sb Inc Riviera Beach, FL | $13,108,120 | $31,278,179 |
Jewish Association For Residential Care Inc Boca Raton, FL | $7,062,896 | $8,370,046 |
Habitat For Humanity Of Greater Miami Inc Miami, FL | $44,913,698 | $17,755,764 |
Contemporary Housing Alternatives Of Florida Inc Clearwater, FL | $42,120,344 | $6,399,709 |
John Sparks Manor Inc Union City, GA | $0 | $5,675,234 |
Housing And Neighborhood Development Services Of Central Orlando, FL | $22,476,842 | $6,815,149 |
Larry Moore Manor Inc Union City, GA | $0 | $4,277,912 |
Rhg-Afforable Housing Ii Inc Atlanta, GA | $13,550,062 | $7,175,901 |
Broadway Towers Inc Atlanta, GA | $17,531,706 | $3,119,210 |