Cinnaire Corporation Cinnaire
- Assets
- $74.6m
- Revenue
- $21.9m
- Investments
- $19.0m
- Employees
- 0
- Location
- Lansing, MI
- Founding
- 04/1994
- Data as of
- 12/2021
- EIN
- 38-3126310
Organization Overview
Cinnaire Corporation Cinnaire is located in Lansing, MI. The organization was established in 1994. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cinnaire Corporation Cinnaire 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, Cinnaire Corporation Cinnaire generated $21.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $19.3m during the year ending 12/2021. While expenses have increased by 2.8% 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.
Since 2019, Cinnaire Corporation Cinnaire has awarded 95 individual grants totaling $654,932. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
CINNAIRE PROVIDES FLEXIBLE LOANS AND EQUITY CAPITAL TO EXPAND AND PRESERVE AFFORDABLE HOUSING IN UNDERSERVED COMMUNITIES. THESE INVESTMENTS REVITALIZE NEIGHBORHOODS, EMPOWER INDIVIDUALS AND CREATE ECONOMIC OPPORTUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Mcdaniel Cheif Executive Officer | 40 | $1,172,598 | |
Ricky Laber Former Executive VP | 40 | $836,670 | |
Kevin Crawley Chief Operating Officer | 40 | $545,513 | |
James Peffley Chief Strategy Officer | 40 | $514,742 | |
Thomas Edmiston Senior VP | 40 | $466,016 | |
James Logue Executive Vice President | 40 | $383,192 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Small Business Association Of Michigan | 12/30/21 | $1,226,474 |
Plante & Moran Pllc | 12/30/21 | $237,034 |
Loomis Ewert Parsley Davis & Gotting Pc | 12/30/21 | $222,333 |
Lyman & Sheets | 12/30/21 | $190,782 |
Kuak Rock Llp | 12/30/21 | $299,596 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,649,309 |
| Interest on Savings | $123,596 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $20,519 |
| Capital Gain Net Income | $20,519 |
| Net ST Capital Gain | $20,519 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $19,057,296 |
| Total Revenue | $21,850,720 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $4,718,587 |
| Other employee salaries and wages | $5,540,774 |
| Pension plans, employee benefits | $1,926,546 |
| Interest | $719,347 |
| Taxes | $56,149 |
| Depreciation | $134,820 |
| Occupancy | $501,934 |
| Travel, conferences, and meetings | $237,442 |
| Printing and publications | $0 |
| Other expenses | $3,165,056 |
| Total operating and administrative expenses | $18,930,260 |
| Contributions, gifts, grants paid | $411,327 |
| Total expenses and disbursements | $19,341,587 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $15,639,676 |
| Net Accounts receivable | $17,651,190 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $626,896 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $13,367,241 |
| Net Land, buildings, and equipment | $1,385,220 |
| Other assets | $20,294,694 |
| Total assets | $74,619,323 |
| Accounts payable and accrued expenses | $9,993,255 |
| Grants payable | $0 |
| Deferred revenue | $306,366 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $28,882,981 |
| Other liabilities | $0 |
| Total liabilities | $39,182,602 |
Grants Awarded
Over the last fiscal year, Cinnaire Corporation Cinnaire has awarded $411,327 in support to 27 organizations.
| Grant Recipient | Amount |
|---|---|
CINNAIRE LENDING CORPORATION (RESIDENT RELIEF FUND) PURPOSE: GENERAL SUPPORT | $250,838 |
Lansing, MI PURPOSE: GENERAL SUPPORT | $50,000 |
Lansing, MI PURPOSE: GENERAL SUPPORT | $30,000 |
BRANDYWINE VALLEY FRIENDS OF THE CHILDREN PURPOSE: GENERAL SUPPORT | $20,000 |
BALL STATE UNIVERSITY PURPOSE: GENERAL SUPPORT | $16,640 |
Northville, MI PURPOSE: GENERAL SUPPORT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cinnaire Corporation Cinnaire has recieved totaling $250,000.
| Awarding Organization | Amount |
|---|---|
Delta Dental Plan Of Michigan Okemos, MI PURPOSE: CHARITABLE DONATION | $250,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alliance For Housing Oakland County Continuum Of Care Pontiac, MI | $25,935,962 | $39,151,253 |
Integrated Community Services Inc Green Bay, WI | $950,571 | $23,339,700 |
Cinnaire Corporation Cinnaire Lansing, MI | $74,619,323 | $21,850,720 |
Bethany Housing Ministries Inc Muskegon, MI | $4,087,536 | $16,635,219 |
Milwaukee Habitat For Humanity Milwaukee, WI | $24,987,795 | $20,382,762 |
Habitat For Humanity International Inc Cincinnati, OH | $19,861,311 | $21,403,808 |
Buckeye Community Hope Foundation Columbus, OH | $50,429,521 | $11,276,532 |
Caracole Inc Cincinnati, OH | $7,131,053 | $11,567,326 |
Taylor Community Development Corp Taylor, MI | $29,334,174 | $14,242,807 |
Habitat For Humanity International Inc Indianapolis, IN | $27,221,776 | $14,208,425 |
Western Reserve Revitalization & Management Co Cleveland, OH | $81,496,475 | $17,708,509 |
Affordable Housing Partners Inc Carmel, IN | $150,650,716 | $9,214,618 |