Cedar Development Inc
- Assets
- $2.1m
- Revenue
- $420.2k
- Investments
- $0.0
- Employees
- 6
- Location
- Akron, OH
- Founding
- 02/1985
- Data as of
- 09/2021
- EIN
- 34-1418418
Organization Overview
Cedar Development Inc is located in Akron, OH. The organization was established in 1985. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 09/2021, Cedar Development Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cedar Development Inc 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 09/2021, Cedar Development Inc generated $420.2k 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 (5.7%) each year. All expenses for the organization totaled $394.6k during the year ending 09/2021. 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
TO PROVIDE HOUSING AND RELATED FACILITIES AND SERVICES FOR ELDERLY AND LOW INCOME FAMILIES AND PERSONS ON A NON-PROFIT BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HOUSING AND RELATED FACILITIES AND SERVICES FOR ELDERLY AND LOW INCOME FAMILIES AND PERSONS ON A NON-PROFIT BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Hagen Executive Director | Officer | 10 | $66,000 |
Bryan C Williams President | OfficerTrustee | 0.5 | $0 |
Michael Chadsey Vice President | OfficerTrustee | 0.5 | $0 |
Ray Weber Treasurer | OfficerTrustee | 0.5 | $0 |
Kim Arnold Secretary | OfficerTrustee | 0.5 | $0 |
Lance Reed Trustee | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $64,768 |
| 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 | $64,768 |
| Total Program Service Revenue | $331,160 |
| Investment income | $24,226 |
| 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 | $420,154 |
| 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. | $66,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $99,673 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,051 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,323 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,820 |
| Office expenses | $4,560 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $35,565 |
| Insurance | $22,689 |
| All other expenses | $0 |
| Total functional expenses | $394,630 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,503 |
| Savings and temporary cash investments | $1,432,226 |
| Pledges and grants receivable | $16,239 |
| Accounts receivable, net | $1,120 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $12,872 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,031 |
| Net Land, buildings, and equipment | $572,871 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,084,862 |
| Accounts payable and accrued expenses | $45,745 |
| Grants payable | $0 |
| Deferred revenue | $6,360 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $20,266 |
| Total liabilities | $72,371 |
| Net assets without donor restrictions | $2,012,491 |
| 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 | $2,084,862 |
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|---|---|---|
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Alliance For Housing Oakland County Continuum Of Care Pontiac, MI | $25,935,962 | $39,151,253 |
Columbus Property Management & Development Inc Philadelphia, PA | $30,446,777 | $36,581,885 |
Mainstay Life Services Pittsburgh, PA | $23,133,484 | $27,133,047 |
Shared Support South Inc Warrington, PA | $9,549,705 | $20,704,692 |
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Cinnaire Corporation Cinnaire Lansing, MI | $74,619,323 | $21,850,720 |
Pathways To Housing Pa Philadelphia, PA | $7,362,789 | $17,371,070 |
Bethany Housing Ministries Inc Muskegon, MI | $4,087,536 | $16,635,219 |
Habitat For Humanity International Inc Cincinnati, OH | $19,861,311 | $21,403,808 |