Center For Great Neighborhoods Of Covington Inc
- Assets
- $4.1m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 10
- Location
- Covington, KY
- Founding
- 04/1973
- Data as of
- 12/2021
- EIN
- 61-0733046
Organization Overview
Center For Great Neighborhoods Of Covington Inc is located in Covington, KY. The organization was established in 1973. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Center For Great Neighborhoods Of Covington Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center For Great Neighborhoods Of Covington 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 12/2021, Center For Great Neighborhoods Of Covington Inc generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.2%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (10.8%) 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
PROVIDE COMMUNITY SUPPORT AND PROGRAMMING IN THE GREATER COVINGTON AREA IN COMMUNITY DEVELOPMENT, CREATIVE PLACEMAKING, REAL ESTATE DEVELOPMENT FINANCIAL WELLBEING, BUILDING HEALTHY COMMUNITIES, AND PARTNERSHIPS FOR YOUTH AND FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CENTER FOR GREAT NEIGHBORHOODS STRIVES TO HELP RESIDENTS DISCOVER THEIR STRENGTHS, INTERACT WITH THEIR NEIGHBORS, AND WORK TOGETHER TO IMPROVE THE QUALITY OF LIFE IN THEIR NEIGHBORHOODS AND COMMUNITY. TOWARD THAT END, THE CENTER OFFERS PROGRAMS IN THE AREAS OF HEALTH, CREATIVE PLACEMAKING, YOUTH AND FAMILIES, AND FINANCIAL WELLBEING.
THE CENTER PROVIDES CUSTODIAL ACCOUNTS TO RESIDENT LED COMMUNITY GROUPS WORKING TO IMPROVE THEIR NEIGHBORHOODS WHEN THAT WORK ALIGNS WITH ITS MISSION AND STRATEGIC FOCUS.
THE CENTER ENGAGES IN REAL ESTATE DEVELOPMENT TO PROVIDE QUALITY HOUSING OPTIONS FOR A DIVERSITY OF INCOMES, REDUCE BLIGHT AND DRIVE EQUITABLE ECONOMIC DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Dibello Executive Director | Officer | 40 | $74,537 |
Brian Potter Treasurer | OfficerTrustee | 1 | $0 |
Loren Vandyke Wolff Chair | OfficerTrustee | 1 | $0 |
Gene Weber Trustee | Trustee | 1 | $0 |
Nathan Tainter Trustee | Trustee | 1 | $0 |
Dietra Bohannon Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $135,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $541,372 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $676,372 |
| Total Program Service Revenue | $267,675 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $56,813 |
| Net Gain/Loss on Asset Sales | -$141,294 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,255,268 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $409 |
| 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 | $492,876 |
| Pension plan accruals and contributions | $6,986 |
| Other employee benefits | $26,142 |
| Payroll taxes | $21,300 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,696 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,619 |
| Advertising and promotion | $0 |
| Office expenses | $44,922 |
| Information technology | $23,834 |
| Royalties | $0 |
| Occupancy | $101,000 |
| Travel | $27 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,707 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,416 |
| Insurance | $18,068 |
| All other expenses | $2,604 |
| Total functional expenses | $1,128,860 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $384,186 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $146,655 |
| 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 | $300 |
| Net Land, buildings, and equipment | $3,016,812 |
| Investments—publicly traded securities | $376,531 |
| Investments—other securities | $0 |
| Investments—program-related | $20,000 |
| Intangible assets | $20,556 |
| Other assets | $140,890 |
| Total assets | $4,105,930 |
| Accounts payable and accrued expenses | $43,188 |
| Grants payable | $0 |
| Deferred revenue | $19,126 |
| 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 | $1,541,155 |
| Other liabilities | $5,540 |
| Total liabilities | $1,609,009 |
| Net assets without donor restrictions | $2,295,959 |
| Net assets with donor restrictions | $200,962 |
| 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 | $4,105,930 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Center For Great Neighborhoods Of Covington Inc has recieved totaling $448,553.
| Awarding Organization | Amount |
|---|---|
Carol Ann And Ralph V Haile Jr Foundation Cincinnati, OH PURPOSE: COMMUNITY ENGAGEMENT INITIATIVES 2021-2022 | $115,000 |
United Way Of Greater Cincinnati Cincinnati, OH PURPOSE: Program Operating Cost | $108,589 |
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $95,000 |
Kresge Foundation Troy, MI PURPOSE: GENERAL OPERATING SUPPORT TO THE CENTER FOR GREAT NEIGHBORHOODS TO CONTINUE ITS CREATIVE PLACEMAKING INITIATIVES IN COVINGTON, KY. | $50,000 |
Greater Cincinnati Foundation Cincinnati, OH PURPOSE: GENERAL PURPOSE | $31,000 |
Carol Ann And Ralph V Haile Jr Foundation Cincinnati, OH PURPOSE: COVID NEIGHBORHOOD RELIEF FUNDS | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Philanthropic Impact Foundation Nashville, TN | $919,847 | $18,241,201 |
University Of Louisville Real Estate Foundation Louisville, KY | $156,388,720 | $20,770,834 |
Stifel Charitable Inc St Louis, MO | $132,307,100 | $94,589,551 |
Moose Charities Inc Mooseheart, IL | $5,385,966 | $15,548,845 |
James Family Charitable Foundation Charlottesville, VA | $171,150,056 | $16,638,935 |
Franciscan Sisters Of Chicago Service Corporation Lemont, IL | $62,771,138 | $13,923,865 |
Silver Valley Research Foundation Mclean, VA | $1,699,232 | $12,100,000 |
Vela Education Fund Glencoe, IL | $4,855,969 | $13,247,569 |
York Foundation Herndon, VA | $79,294,285 | $7,194,037 |
New Albany Community Foundation New Albany, OH | $19,894,351 | $7,914,986 |
Porter County Government Charitable Nonprofit Foundation Inc Valparaiso, IN | $195,277,590 | $7,720,193 |
Taubman Foundation For The Arts Roanoke, VA | $20,057,493 | $918,229 |