Center City Development Corporation
- Assets
- $647.4k
- Revenue
- $224.0k
- Investments
- $0.0
- Employees
- 1
- Location
- Richmond, IN
- Founding
- 11/1987
- Data as of
- 12/2021
- EIN
- 31-1210665
Organization Overview
Center City Development Corporation is located in Richmond, IN. The organization was established in 1987. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center City 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, Center City Development Corporation generated $224.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $142.0k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Center City Development Corporation has awarded 50 individual grants totaling $482,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE REVITALIZATION OF DOWNTOWN RICHMOND THROUGH LOANS, CONSULTING ON IMPROVEMENTS, AND SPECIAL EVENTS TO INCREASE FOOT TRAFFIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTING THE REVITALIZATION OF DOWNTOWN RICHMOND THROUGH LOANS, CONSULTING ON IMPROVEMENTS, AND SPECIAL EVENTS TO INCREASE FOOT TRAFFIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Newton Executive Di | Officer | 40 | $70,000 |
Shelley Miller President | OfficerTrustee | 3 | $0 |
Cathy Hillard Vice Preside | OfficerTrustee | 3 | $0 |
Brad Wilson Treasurer | OfficerTrustee | 3 | $0 |
Michael Swain Secretary | OfficerTrustee | 3 | $0 |
Michael Gaddis Director | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $600 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $25,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $133,450 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $159,050 |
| Total Program Service Revenue | $67,224 |
| Investment income | $187 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$2,476 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $224,026 |
| 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. | $70,000 |
| Compensation of current officers, directors, key employees. | $14,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | -$14,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,068 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,466 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,400 |
| Advertising and promotion | $1,514 |
| Office expenses | $4,692 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,171 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,393 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,129 |
| Insurance | $3,889 |
| All other expenses | $4,683 |
| Total functional expenses | $141,973 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $252,360 |
| Savings and temporary cash investments | $25,930 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,414 |
| 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 | $0 |
| Net Land, buildings, and equipment | $352,745 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,000 |
| Total assets | $647,449 |
| Accounts payable and accrued expenses | $6,726 |
| Grants payable | $0 |
| Deferred revenue | $11,896 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $168,622 |
| Net assets without donor restrictions | $449,500 |
| Net assets with donor restrictions | $29,327 |
| 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 | $647,449 |
Grants Awarded
Over the last fiscal year, Center City Development Corporation has awarded $482,000 in support to 50 organizations.
| Grant Recipient | Amount |
|---|---|
ULLERY'S | | | $10,000 |
CRUISE ADVENTURE AND TRAVEL | | | $10,000 |
LITTLE SHEBA'S | | | $10,000 |
THE CORNER CAFE AT THE LELAND | | | $10,000 |
THE CORDIAL CORK | | | $10,000 |
THE FIREHOUSE BBQ & BLUES | | | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Center City Development Corporation has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Stamm Family Foundation Richmond, IN PURPOSE: PUBLIC SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Indianapolis Foundation Inc Indianapolis, IN | $352,748,809 | $43,731,535 |
Delta Area Economic Opportunity Corporation Portageville, MO | $22,832,856 | $23,706,654 |
Pennyrile Allied Community Services Inc Hopkinsville, KY | $9,618,726 | $22,758,893 |
Lexington Center Corporation Lexington, KY | $378,439,328 | $16,156,810 |
Kentucky River Foothills Development Council Inc Richmond, KY | $12,381,295 | $19,871,173 |
Community Action Of Southern Kentucky Incorporated Bowling Green, KY | $10,381,389 | $18,999,181 |
Northern Kentucky Community Action Commisson Inc Covington, KY | $8,823,439 | $18,121,235 |
Embarras River Basin Agency Inc Greenup, IL | $2,961,671 | $18,793,359 |
Jefferson Franklin Community Action Corporation Hillsboro, MO | $6,544,452 | $18,340,130 |
Tri-County Opportunities Council Rock Falls, IL | $4,101,390 | $18,238,868 |
Inner-City Muslim Action Network Chicago, IL | $22,441,569 | $25,574,850 |
Will County Center For Community Concerns Inc Joliet, IL | $2,259,108 | $13,384,526 |