Capitol South Community Urban Redevelopment Corporation
- Assets
- $40.1m
- Revenue
- $27.4m
- Investments
- $0.0
- Employees
- 20
- Location
- Columbus, OH
- Founding
- 03/1976
- Data as of
- 12/2021
- EIN
- 31-0868417
Organization Overview
Capitol South Community Urban Redevelopment Corporation is located in Columbus, OH. The organization was established in 1976. 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 12/2021, Capitol South Community Urban Redevelopment Corporation employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Capitol South Community Urban Redevelopment 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, Capitol South Community Urban Redevelopment Corporation generated $27.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.0% each year . All expenses for the organization totaled $34.0m during the year ending 12/2021. While expenses have increased by 24.2% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANAGEMENT OF PUBLIC PARKING GARAGES AND AN ATTACHED RETAIL CENTER.
THE COLUMBUS COMMONS PARK HAD A MODIFIED EVENT SEASON DUE TO THE EFFECTS OF THE COVID-19 PANDEMIC. THE PARK PROVIDES FAMILY-FRIENDLY ACTIVITIES AT LITTLE OR NO CHARGE TO PATRONS. THE PARK CREATES SPACE THAT DRAWS PEOPLE DOWNTOWN AND SUPPORTS THE ONGOING DEVELOPMENT OF DOWNTOWN COLUMBUS
IN 2017, CAPITOL SOUTH SUBSTANTIALLY COMPLETED CONSTRUCTION OF A PARK AND UNDERGROUND PARKING GARAGE ON THE SCIOTO PENINSULA. THE GARAGE OPENED IN NOVEMBER 2017, AND THE PARK CELEBRATED ITS GRAND OPENING ON JUNE 7, 2018. IN 2020, CAPITOL SOUTH ENTERED IN A CONTRACT WITH THE CITY OF COLUMBUS FOR THE DESIGN AND CONSTRUCTION OF TWO PARKING GARAGES TOTALING 1,400 SPACES TO THE SERVE THE SCIOTO PENINSULA DEVELOPMENT. CONSTRUCTION OF THE GARAGES CONTINUED THOUGH OUT 2021. THE GARAGES ARE EXPECTED TO BE COMPLETED IN SPRING 2022.DURING 2021, CAPITOL SOUTH CONTRIBUTED $3,584,193 OF ITS DOWNTOWN HOUSING INCENTIVE FUND TO CDDC IN ORDER TO ASSIST WITH FUNDING OF THE TOPIARY PARK CROSSING PROJECT, A 98 UNIT AFFORDABLE HOUSING PROJECT BEING DEVELOPED IN DOWNTOWN COLUMBUS.BEGINNING IN THE SUMMER OF 2021, CAPITOL SOUTH PROVIDED ADDITIONAL SECURITY AND PROGRAMMING TO THE COLUMBUS RIVERFRONT PARK AREA KNOWN AS THE SCIOTO MILE. THESE SERVICES WERE COORDINATED WITH THE CITY OF COLUMBUS DEPARTMENT OF RECREATION AND PARKS IN AN EFFORT TO ACTIVATE THE AREA AFTER THE COVID PANDEMIC.
DOWNTOWN HOUSING INCENTIVE FUND (PROVIDED "GAP" FINANCING TO DOWNTOWN RESIDENTIAL DEVELOPERS). CURRENTLY ORIGINATING NO NEW LOANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Guy V Worley President & CEO (thru 5/2021) | Officer | 30 | $445,166 |
Amy E Taylor Coo/president (begin 6/2021) | Officer | 30 | $183,761 |
Matthew Lutz Asst. Secretary/general Co | Officer | 30 | $138,024 |
Ashley J Myers Director Of Columbus Commons | 50 | $128,038 | |
Joseph Schueler CFO | Officer | 30 | $125,437 |
Mark Bargo Director Of Construction | 30 | $97,805 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Above Sound Llc Sound And Lighting Maintenance | 12/30/20 | $165,428 |
Laz Karp Associates Llc Dba Laz Parking Parking Facility Management | 12/30/20 | $982,709 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $61,342 |
| 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 | $61,342 |
| Total Program Service Revenue | $27,029,429 |
| Investment income | $65,661 |
| 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 | $27,422,003 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,584,193 |
| 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. | $1,585,918 |
| Compensation of current officers, directors, key employees. | $634,367 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $823,229 |
| Pension plan accruals and contributions | $25,824 |
| Other employee benefits | $52,536 |
| Payroll taxes | $285,667 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $106,613 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $42,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $288,880 |
| Advertising and promotion | $62,374 |
| Office expenses | $45,689 |
| Information technology | $48,204 |
| Royalties | $0 |
| Occupancy | $63,621 |
| Travel | $6,126 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,851,379 |
| Insurance | $112,754 |
| All other expenses | $28,673 |
| Total functional expenses | $34,036,652 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,766,910 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,923,928 |
| Loans from Officers, Directors, or Controlling Persons | $238,628 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $191,939 |
| Net Land, buildings, and equipment | $23,054,715 |
| Investments—publicly traded securities | $3,929,893 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,415,455 |
| Other assets | $531,266 |
| Total assets | $40,052,734 |
| Accounts payable and accrued expenses | $5,085,260 |
| Grants payable | $0 |
| Deferred revenue | $80,430 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $531,266 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,696,956 |
| Net assets without donor restrictions | $34,355,778 |
| 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 | $40,052,734 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Capitol South Community Urban Redevelopment Corporation has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Columbus Downtown Development Corporation Columbus, OH PURPOSE: HOLIDAY LIGHTS FOR COLUMBUS COMMONS PARK | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cincinnati Center City Development Corporation Cincinnati, OH | $365,563,062 | $43,403,938 |
Gateway Economic Development Corporation Of Greater Cleveland Cleveland, OH | $401,423,840 | $30,122,951 |
Capitol South Community Urban Redevelopment Corporation Columbus, OH | $40,052,734 | $27,422,003 |
Harristown Development Corporation Harrisburg, PA | $29,766,695 | $19,028,512 |
The Center Of Workforce Innovations Inc Valparaiso, IN | $2,958,255 | $14,608,336 |
Community Action Of South Eastern West Virginia Bluefield, WV | $9,324,400 | $12,779,130 |
Cintrifuse Cincinnati, OH | $9,097,086 | $17,758,065 |
Walnut Hills Redevelopment Foundation Inc Cincinnati, OH | $7,399,538 | $1,025,062 |
Midtown Detroit Inc Detroit, MI | $6,098,841 | $4,938,478 |
Pittsburgh Downtown Partnership Pittsburgh, PA | $5,197,454 | $6,457,703 |
Bellvue Gardens Community Urban Redevelopment Corporation Cincinnati, OH | $29,237,042 | $3,964,847 |
Detriot Economic Growth Association Detroit, MI | $6,651,865 | $5,567,044 |