East Akron Neighborhood Development Corporation
- Assets
- $36.0m
- Revenue
- $4.7m
- Investments
- $0.0
- Employees
- 45
- Location
- Akron, OH
- Founding
- 07/1982
- Data as of
- 12/2021
- EIN
- 34-1365690
Organization Overview
East Akron Neighborhood Development Corporation is located in Akron, OH. The organization was established in 1982. According to its NTEE Classification (L81) the organization is classified as: Home Improvement & Repairs, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, East Akron Neighborhood Development Corporation employed 45 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Akron Neighborhood 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, East Akron Neighborhood Development Corporation generated $4.7m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $3.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.3%) 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
EAST AKRON NEIGHBORHOOD DEVELOPMENT CORPORATION (EANDC)IMPROVES COMMUNITIES BY PROVIDING QUALITY AFFORDABLE HOUSING, COMPREHENSIVE HOMEOWNERSHIP SERVICES AND ECONOMIC DEVELOPMENT OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENERGY SERVICES.ENERGY SERVICES EANDC PROVIDES FOR THE ENERGY EFFICIENCY AND IMPROVEMENT OF EXISTING HOUSING IN THE AKRON AREA BY PROVIDING A VARIETY OF PROGRAMS TO ELIGIBLE HOUSEHOLDS SUCH AS EMERGENCY HOME REPAIR, HOUSEWARMING, AND THE ELECTRIC PARTNERSHIP PROGRAMS.
COMMUNITY BUILDING AND ENGAGEMENT. EANDC PROVIDES OUTREACH WITH RESIDENTS TO BETTER INFORM THEM OF CAPITAL PROJECTS AND TO INCREASE AND IMPROVE OTHER SOCIAL SERVICES WITH A REVITALIZATION PLAN OF LOCAL AREAS.
AFFORDABLE HOUSING OPERATIONS. EANDC WAS ORGANIZED FOR THE PURPOSE OF ENHANCING THE COMMUNITY OF EAST AKRON AND OTHER COMMUNITIES PRIMARILY LOCATED IN SUMMIT AND STARK COUNTY OHIO WITH A SPECIAL EMPHASIS ON PROVIDING ECONOMIC DEVELOPMENT OPPORTUNITIES FOR LOW AND MODERATE-INCOME INDIVIDUALS AND FAMILIES.EANDC CURRENTLY MANAGES 373 SCATTERED SITE SINGLE FAMILY HOMES, TWO 40-UNIT SENIOR CITIZENS BULDINGS, A 6-UNIT AND 10-UNIT APARTMENT BUILDING, A 34-UNIT AND 50-UNIT MULTIFAMILY HOUSING PROJECT, A 25-UNIT TOWNHOME AND 6-UNIT APARTMENT BUILDING COMMUNITY, AND A 30-UNIT MULTIFAMILY TOWNHOME COMMUNITY IN AKRON, OHIO, WHICH ARE OWNED BY THE PROJECT ENTITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cheryl Stephens President/ceo | Officer | 40 | $170,008 |
Kelly Barr Chief Financial Officer | Officer | 40 | $122,680 |
David Buchanan Board Chairman | OfficerTrustee | 1 | $0 |
John Hickey Board Vice Chairman | OfficerTrustee | 1 | $0 |
Sue Hoisten Secretary | OfficerTrustee | 1 | $0 |
Matthew Donley Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Myers Appliance Appliance Supplier | 12/30/18 | $518,075 |
Cc Mitchell Appliance Supplier | 12/30/18 | $116,667 |
Cbiz Mhm Llc Accounting Services | 12/30/18 | $112,081 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,646,625 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,659 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,658,284 |
| Total Program Service Revenue | $1,037,299 |
| Investment income | $209,509 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $47,219 |
| 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 | $4,723,818 |
| 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. | $303,550 |
| Compensation of current officers, directors, key employees. | $303,550 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $993,824 |
| Pension plan accruals and contributions | $24,021 |
| Other employee benefits | $0 |
| Payroll taxes | $297,154 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $246,904 |
| Fees for services: Accounting | $81,655 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $176,101 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $90,275 |
| Travel | $13,146 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,702 |
| Interest | $101,589 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $34,600 |
| Insurance | $64,865 |
| All other expenses | $0 |
| Total functional expenses | $3,521,950 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,491,103 |
| Savings and temporary cash investments | $3,662,429 |
| Pledges and grants receivable | $281,655 |
| Accounts receivable, net | $1,731,504 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,872,683 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $881 |
| Net Land, buildings, and equipment | $17,459,379 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,321,141 |
| Intangible assets | $167,689 |
| Other assets | $0 |
| Total assets | $35,988,464 |
| Accounts payable and accrued expenses | $813,893 |
| Grants payable | $0 |
| Deferred revenue | $40,824 |
| 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 | $16,443,893 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,171,811 |
| Total liabilities | $19,470,421 |
| Net assets without donor restrictions | $13,842,209 |
| Net assets with donor restrictions | $2,675,834 |
| 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 | $35,988,464 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that East Akron Neighborhood Development Corporation has recieved totaling $239,763.
| Awarding Organization | Amount |
|---|---|
Ohio Capital Impact Corporation Columbus, OH PURPOSE: PROGRAM SUPPORT | $200,000 |
Premier Bank Foundation Canfield, OH PURPOSE: PROGRAM SUPPORT | $25,000 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $14,750 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $13 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
People Working Cooperatively Inc Cincinnati, OH | $8,365,996 | $9,385,088 |
Midland Area Homes Inc Midland, MI | $1,332,023 | $3,716,670 |
East Akron Neighborhood Development Corporation Akron, OH | $35,988,464 | $4,723,818 |
Home Repair Services Of Kent County Inc Grand Rapids, MI | $2,849,278 | $3,292,251 |
Rebuilding Together Philadelphia Philadelphia, PA | $1,909,589 | $2,697,411 |
Home Improvement Research Institute Indianapolis, IN | $972,708 | $1,192,557 |
Northwest Pennsylvania Weatherization Inc Meadville, PA | $440,849 | $827,625 |
Near East Area Renewal Inc Indianapolis, IN | $5,123,565 | $993,916 |
Centennial Falcon Properties Inc Bowling Green, OH | $14,113,437 | $0 |
Interfaith Home Maintenance Service Inc Youngstown, OH | $0 | $522,403 |
Morrow County Services For Older Citizens Inc Mt Gilead, OH | $930,239 | $683,244 |
Mountain Outreach Program Inc Williamsburg, KY | $1,168,702 | $1,057,977 |