Form 990 for tax year 2024
Filed by CLEVELAND CITYWIDE DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $838,637
- Total expenses
- $818,214
- Contributions and grants received
- $664,455
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $723
- Other revenue
- $173,459
- Total assets, end of year
- $1,307,823
- Total liabilities, end of year
- $1,053,695
- Net assets or fund balances, end of year
- $254,128
- Program services expenses (Part IX)
- $664,455
- Management and general expenses
- $153,759
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $664,455
Program services were 81.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$664,455
-
3 · Investment income
total $723 · related or exempt $723
-
8c · Net income from fundraising events
total $0
-
11a · Other revenue: Non Loan & Loan Fees
total $77,221 · related or exempt $77,221
-
11b · Other revenue: TIF Processing Fee
total $96,238 · related or exempt $96,238
-
11e · Other revenue, total
$173,459
Functional expenses
Part IX, the statement of functional expenses.
-
11b · Fees: legal
total $94,676 · management and general $94,676
-
11c · Fees: accounting
total $14,877 · management and general $14,877
-
23 · Insurance
total $9,666 · management and general $9,666
-
24a · Other expenses: CF - Incentives Scorecard
total $95,000 · program services $95,000
-
24b · Other expenses: MNTI - DP Assistance Program
total $133,511 · program services $133,511
-
24c · Other expenses: MNTI - Home Rehab Program
total $254,183 · program services $254,183
-
24d · Other expenses: MNTI - Glenvillage Retail In
total $91,761 · program services $91,761
-
24e · All other expenses
total $124,540 · program services $90,000 · management and general $34,540
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,599,765 · end of year $1,122,956
-
3 · Pledges and grants receivable
end of year $35,750
-
7 · Other notes and loans receivable
beginning of year $193,795 · end of year $147,880
-
9 · Prepaid expenses and deferred charges
beginning of year $7,986 · end of year $1,237
-
17 · Accounts payable and accrued expenses
beginning of year $26,182 · end of year $20,293
-
19 · Deferred revenue
beginning of year $1,541,661 · end of year $1,033,402
-
27 · Net assets without donor restrictions
beginning of year $233,703 · end of year $254,128
Mission and programs · 2024
Mission
CCDCs purpose is to review and process grants, loans, tax incremental financing and provide other assistance to eligible businesses/others within the city of Cleveland. This assistance is designed to promote economic growth and to retain or increase employment within the city.
-
City of Cleveland - MNTI - Homeowners Rehabilitation Program - The purpose for this program is to rehabilitate vacant homes that are owned by another not-for-profit agency. This component incurred $254,183 of expenses in calendar year 2024.
Expenses $254,183
-
Cleveland Citywide Development Corporation: There are two components for this program. One component is Fund for Our Economic-Future-Opportunity Corridor Project which incurred $90,000 of expenses in calendar year 2024. The other component is Cleveland Foundation- Cleveland incentves Scorecard which also incurred $95,000 of expenses in calendar year 2024.
Expenses $185,000
-
City of Cleveland- MTNI- Down Payment Assistance Program- incurred expenses for calendar year 2024 of $133,511.
Expenses $133,511
-
City of Cleveland GlenVillage Retail Incubator - This program was designed to provide retail spaces and necessary equipment for eligible business in the Glenville area. Several businesses were provided assistance in calendar year 2024. This program was also designed to provide technical assistance to these businesses to help ensure their financial viability. The total historic estimated expenses for this program were $3,200,000. The MNTI epxenses incurred for this program in calendar year 2024 were $91,761.
Expenses $91,761
As filed on the 2024 return.
Listed in Part VII
-
Roger Carney
Board of Trustees LRC
- Total calculated
- $0
- Hours/week
- 2
-
Anthony Hairston
Board MemberLRC
- Total calculated
- $0
- Hours/week
- 2
-
Juan Hernandez
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Dale R Lenzer
Board MemberLRC
- Total calculated
- $0
- Hours/week
- 2
-
N Michael Obi
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Zulma Zabala
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Dana Capers
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
J Stefan Holmes
CCDC Board Vice President
- Total calculated
- $0
- Hours/week
- 3
-
Tyson Mitchell
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Jeffrey T Verespej
LRC Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Alyssa Hernandez
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Henry West
CCDC Board Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Thomas S McNair
CCDC Board Secretary
- Total calculated
- $0
- Hours/week
- 1
-
Dan Rehor
Fiscal Manager
- Total calculated
- $0
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 4 April 2025
- IRS schema version
- 2024v5.1
- Source object
- 202531059349300228
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