Village Capital Corporation
- Assets
- $19.1m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 09/1993
- Data as of
- 06/2021
- EIN
- 34-1704488
Organization Overview
Village Capital Corporation is located in Cleveland, OH. The organization was established in 1993. 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. Village Capital 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 06/2021, Village Capital Corporation generated $1.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $939.3k during the year ending 06/2021. While expenses have increased by 0.6% per year over the past 6 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
INVESTING IN THE REVITALIZATION OF NORTHEAST OHIO'S UNDERSERVED COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VILLAGE CAPITAL CORPORATION (VCC) BUILDS AND STRENGTHENS UNDERSERVED NEIGHBORHOOD IN NORTHEAST OHIO BY PROVIDING CAPITAL TO STRATEGIC REAL ESTATE DEVELOPMENT PROJECTS THAT SERVE AS A CATALYST FOR REVITALIZATION. OUR LOANS CAPITAL IS DEPLOYED TO PROJECTS THAT: ELIMINATE BLIGHT, PROVIDE QUALITY HOUSING AND COMMERCIAL ASSETS, CREATE JOBS, FOSTER ECONOMIC DIVERSITY AND INCLUSION, AND PROMOTE POSITIVE SOCIAL OUTCOMES FOR RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Joel Ratner Vice Chairman Until Nov 2020 | OfficerTrustee | 3 | $0 |
Mr William Dalman Chairman | OfficerTrustee | 1 | $0 |
Ms Tania Menesse Vice Chairman | OfficerTrustee | 3 | $0 |
Mr Emanuel Glover Treasurer | OfficerTrustee | 1 | $0 |
Ms Patricia Ramsey Secretary | OfficerTrustee | 1 | $0 |
Ms Dione Alexander President | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $65,655 |
| All other contributions, gifts, grants, and similar amounts not included above | $503,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $568,655 |
| Total Program Service Revenue | $839,705 |
| Investment income | $6,347 |
| 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 | $1,414,707 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,500 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $268,251 |
| Pension plan accruals and contributions | $714 |
| Other employee benefits | $46,905 |
| Payroll taxes | $12,068 |
| Fees for services: Management | $84,123 |
| Fees for services: Legal | $19,708 |
| Fees for services: Accounting | $26,455 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $35,975 |
| Advertising and promotion | $0 |
| Office expenses | $12,074 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,735 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $324,426 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,642 |
| All other expenses | $0 |
| Total functional expenses | $939,256 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,084,449 |
| Savings and temporary cash investments | $5,623,557 |
| Pledges and grants receivable | $195,000 |
| Accounts receivable, net | $2,176 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $11,856,137 |
| Intangible assets | $0 |
| Other assets | $295,204 |
| Total assets | $19,056,523 |
| Accounts payable and accrued expenses | $117,325 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $3,774,773 |
| Unsecured mortgages and notes payable | $9,285,000 |
| Other liabilities | $52,754 |
| Total liabilities | $13,229,852 |
| Net assets without donor restrictions | $5,351,671 |
| Net assets with donor restrictions | $475,000 |
| 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 | $19,056,523 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Village Capital Corporation has recieved totaling $200,000.
| Awarding Organization | Amount |
|---|---|
Third Federal Foundation Cleveland, OH PURPOSE: CHARITABLE PURPOSE | $200,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Urban Affairs Coalition Philadelphia, PA | $25,704,306 | $97,554,481 |
Impact Community Action Columbus, OH | $17,964,278 | $51,062,093 |
Reinvestment Fund Inc Philadelphia, PA | $609,259,384 | $44,624,452 |
Akron Summit Community Action Agency Akron, OH | $9,053,133 | $31,825,266 |
Hocking-Athens Perry Community Action Glouster, OH | $22,374,760 | $30,742,269 |
Capital Area Community Services Inc Lansing, MI | $6,281,706 | $28,298,422 |
Indianapolis Foundation Inc Indianapolis, IN | $352,748,809 | $43,731,535 |
Blueprints Washington, PA | $9,542,152 | $23,150,876 |
Pennyrile Allied Community Services Inc Hopkinsville, KY | $9,618,726 | $22,758,893 |
Jumpstart Inc Cleveland, OH | $82,356,707 | $21,511,113 |
Lexington Center Corporation Lexington, KY | $378,439,328 | $16,156,810 |
Corporation For Ohio Appalachian Development Athens, OH | $7,078,759 | $21,339,241 |