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Nonprofiteer
← CAPITOL SOUTH COMMUNITY URBAN REDEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by CAPITOL SOUTH COMMUNITY URBAN REDEVELOPMENT CORPORATION.

Totals

Total revenue
$10,082,523
Total expenses
$12,943,683
Contributions and grants received
$102,231
Grants paid
$0
Program service revenue
$9,668,801
Investment income
$299,494
Other revenue
$11,997
Total assets, end of year
$31,211,403
Total liabilities, end of year
$2,668,612
Net assets or fund balances, end of year
$28,542,791
Program services expenses (Part IX)
$11,767,763
Management and general expenses
$1,175,920
Fundraising expenses
$0
Program service expenses (Part III)
$11,767,763

Program services were 90.9% 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.

  • 1b · Membership dues

    $102,231

  • 2a · Program service revenue: 3RD STREET RETAIL & GARAGE

    total $7,897,122 · related or exempt $7,897,122

  • 2b · Program service revenue: CONTRACT REVENUE

    total $1,495,313 · related or exempt $1,495,313

  • 2c · Program service revenue: PROGRAM FEES/COLUMBUS COMMONS

    total $276,366 · related or exempt $276,366

  • 3 · Investment income

    total $299,494 · excluded $299,494

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $11,997 · excluded $11,997

  • 11e · Other revenue, total

    $11,997

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $923,751 · program services $646,626 · management and general $277,125

  • 7 · Other salaries and wages

    total $897,744 · program services $602,653 · management and general $295,091

  • 8 · Pension plan contributions

    total $73,172 · program services $58,538 · management and general $14,634

  • 9 · Other employee benefits

    total $65,255 · program services $52,204 · management and general $13,051

  • 10 · Payroll taxes

    total $119,929 · program services $83,591 · management and general $36,338

  • 11b · Fees: legal

    total $77,062 · program services $3,775 · management and general $73,287

  • 11c · Fees: accounting

    total $30,765 · management and general $30,765

  • 11d · Fees: lobbying

    total $32,500 · management and general $32,500

  • 11g · Fees: other

    total $680,680 · program services $680,159 · management and general $521

  • 12 · Advertising and promotion

    total $172,593 · program services $83,217 · management and general $89,376

  • 13 · Office expenses

    total $84,780 · program services $8,728 · management and general $76,052

  • 14 · Information technology

    total $67,605 · program services $1,327 · management and general $66,278

  • 16 · Occupancy

    total $61,174 · management and general $61,174

  • 17 · Travel

    total $27,226 · program services $13,169 · management and general $14,057

  • 22 · Depreciation, depletion and amortization

    total $2,831,983 · program services $2,795,258 · management and general $36,725

  • 23 · Insurance

    total $170,423 · program services $137,878 · management and general $32,545

  • 24a · Other expenses: PARKING GARAGE EXPENSES

    total $3,494,892 · program services $3,494,892

  • 24b · Other expenses: COLUMBUS COMMONS PROGRA

    total $1,814,241 · program services $1,814,241

  • 24c · Other expenses: REDEVELOPMENT

    total $1,286,064 · program services $1,286,064

  • 24d · Other expenses: OTHER EXPENSES

    total $18,319 · program services $5,443 · management and general $12,876

  • 24e · All other expenses

    total $13,525 · management and general $13,525

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,009,721 · end of year $5,553,665

  • 4 · Accounts receivable

    beginning of year $1,094,973 · end of year $1,200,618

  • 5 · Loans and receivables from officers and key people

    beginning of year $481,188 · end of year $836,071

  • 9 · Prepaid expenses and deferred charges

    beginning of year $190,114 · end of year $213,714

  • 10a · Land, buildings and equipment: cost or other basis

    $79,371,621

  • 10b · Land, buildings and equipment: accumulated depreciation

    $61,619,734

  • 10c · Land, buildings and equipment, net

    beginning of year $20,461,636 · end of year $17,751,887

  • 11 · Investments: publicly traded securities

    beginning of year $3,143,172 · end of year $4,051,624

  • 14 · Intangible assets

    beginning of year $1,382,727 · end of year $1,350,000

  • 15 · Other assets

    beginning of year $1,258,220 · end of year $253,824

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,511,248 · end of year $2,366,801

  • 19 · Deferred revenue

    beginning of year $32,559 · end of year $22,256

  • 25 · Other liabilities

    beginning of year $345,971 · end of year $279,555

  • 27 · Net assets without donor restrictions

    beginning of year $31,131,973 · end of year $28,542,791

Mission and programs · 2023

Mission

THE PURPOSES FOR WHICH THE CORPORATION IS FORMED ARE EXCLUSIVELY CHARITABLE AND EDUCATIONAL.

Activities or mission (Part I)

SEE SCHEDULE O

  • MANAGEMENT OF PUBLIC PARKING GARAGES AND AN ATTACHED RETAIL CENTER.

    Expenses $5,661,993 · Revenue $7,897,122

  • THE COLUMBUS COMMONS PARK HAD A RECORD-BREAKING SEASON IN 2023 AFTER THE COVID-19 PANDEMIC REDUCED THE NUMBER OF EVENTS IN PREVIOUS YEARS. THE PARK PROVIDES A VARIETY OF EVENTS FOR THE COMMUNITY TO ENJOY, WITH THE MAJORITY BEING FREE AND OPEN TO ALL. FOR EXAMPLE, IN 2023 THESE EVENTS INCLUDED A COMMUNITY CHOIR CONCERT WHICH BROUGHT OVER 6,000 PATRONS TO THE PARK, AS WELL AS ZORA'S HOUSE WOMAN OF COLOR SUMMER MARKET. IN ADDITION TO EVENTS, THE PARK DRAWS PEOPLE DOWNTOWN WITH FREE CAROUSEL RIDES AND TWO ONSITE CAFS, WHICH SUPPORTS THE ONGOING DEVELOPMENT OF DOWNTOWN COLUMBUS.

    Expenses $1,952,893 · Revenue $276,366

  • IN 2020, CAPITOL SOUTH ENTERED INTO A CONTRACT WITH THE CITY OF COLUMBUS FOR THE DESIGN AND CONSTRUCTION OF TWO PARKING GARAGES TOTALING 1,400 SPACES TO SERVE THE SCIOTO PENINSULA DEVELOPMENT. CONSTRUCTION OF THE GARAGES CONTINUED THOUGH OUT 2021. THE GARAGES WERE SUBSTANTIALLY COMPLETED AND OPENED TO THE PUBLIC IN 2022. CLOSE OUT OF THE CONSTRUCTION PUNCH LIST CONTINUED INTO 2023.DURING 2021, CAPITOL SOUTH CONTRIBUTED $3,584,193 OF ITS DOWNTOWN HOUSING INCENTIVE FUND TO CDDC TO ASSIST WITH FUNDING OF THE TOPIARY PARK CROSSING PROJECT, A 98-UNIT AFFORDABLE HOUSING PROJECT BEING DEVELOPED IN DOWNTOWN COLUMBUS. CONSTRUCTION OF THE PROJECT COMMENCED IN 2022 AND OPENED IN THE FALL OF 2023.SEE SCHEDULE OBEGINNING IN THE SUMMER OF 2021, CAPITOL SOUTH PROVIDED ADDITIONAL SECURITY AND PROGRAMMING TO THE COLUMBUS RIVERFRONT PARK AREA KNOWN AS THE SCIOTO MILE. THESE SERVICES WERE COORDINATED WITH THE CITY OF COLUMBUS DEPARTMENT OF RECREATION AND PARKS TO ACTIVATE THE AREA AFTER THE COVID PANDEMIC. THESE SERVICES CONTINUED IN 2023.

    Expenses $4,152,877 · Revenue $1,495,313

  • DOWNTOWN HOUSING INCENTIVE FUND (PROVIDED "GAP" FINANCING TO DOWNTOWN RESIDENTIAL DEVELOPERS). CURRENTLY ORIGINATING NO NEW LOANS.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Alex Fischer

    BOARD MEMBER/CHAIR

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • Tim Robinson

    BOARD MEMBER/VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • Sandy Doyle-Ahern

    BOARD MEMBER/SECRETARY

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • Christie Angel

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • Frederic Bertley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • Bruce A Soll

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • Dr Stephen Markovich

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • Jeffrey Edwards

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • Brian Ellis

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • Julie Sloat

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • Heather Brilliant

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • Sue Zazon

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • Matt Scantland

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • Donald Brown

    BOARD MEMBER/TREASURER

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • Greg Davies

    CEO

    Total calculated
    $532,628
    From this org
    $243,869
    From related orgs
    $243,869
    Other
    $44,890
    Hours/week
    22.5 + 27.5 related

    Schedule J breakdown matched by us

    Base
    $170,616 + $170,616 related
    Bonus
    $67,253 + $67,253 related
    Other
    $6,000 + $6,000 related
    Deferred
    $9,072 + $9,072 related
    Nontaxable benefits
    $13,373 + $13,373 related
    Filer's total
    $266,314 + $266,314 related

  • Matthew Lutz

    ASST SECRETARY/GENERAL COUNSEL

    Total calculated
    $351,780
    From this org
    $159,339
    From related orgs
    $159,339
    Other
    $33,102
    Hours/week
    22.5 + 27.5 related

    Schedule J breakdown matched by us

    Base
    $144,676 + $144,676 related
    Bonus
    $14,663 + $14,663 related
    Other
    $0
    Deferred
    $7,218 + $7,218 related
    Nontaxable benefits
    $9,333 + $9,333 related
    Filer's total
    $175,890 + $175,890 related

  • Amy Taylor

    PRESIDENT

    Total calculated
    $588,966
    From this org
    $283,258
    From related orgs
    $283,258
    Other
    $22,450
    Hours/week
    22.5 + 27.5 related

    Schedule J breakdown matched by us

    Base
    $214,633 + $214,633 related
    Bonus
    $63,000 + $63,000 related
    Other
    $5,625 + $5,625 related
    Deferred
    $9,515 + $9,515 related
    Nontaxable benefits
    $1,710 + $1,710 related
    Filer's total
    $294,483 + $294,483 related

  • Joseph Schueler

    CFO

    Total calculated
    $334,522
    From this org
    $145,730
    From related orgs
    $145,730
    Other
    $43,062
    Hours/week
    22.5 + 27.5 related

    Schedule J breakdown matched by us

    Base
    $132,390 + $132,390 related
    Bonus
    $13,340 + $13,340 related
    Other
    $0
    Deferred
    $8,139 + $8,139 related
    Nontaxable benefits
    $13,392 + $13,392 related
    Filer's total
    $167,261 + $167,261 related

  • Ashley Myers

    DIRECTOR OF COLUMBUS COMMONS

    Total calculated
    $175,744
    From this org
    $70,693
    From related orgs
    $70,693
    Other
    $34,358
    Hours/week
    22.5 + 27.5 related

    Schedule J breakdown matched by us

    Base
    $63,747 + $63,747 related
    Bonus
    $6,946 + $6,946 related
    Other
    $0
    Deferred
    $4,097 + $4,097 related
    Nontaxable benefits
    $13,082 + $13,082 related
    Filer's total
    $87,872 + $87,872 related

  • Emilyn Aguilar Hall

    ACCOUNTING MANAGER

    Total calculated
    $139,518
    From this org
    $63,492
    From related orgs
    $63,492
    Other
    $12,534
    Hours/week
    22.5 + 27.5 related

  • Madison Ann Cole

    DIRECTOR OF COMMUNICATIONS

    Total calculated
    $141,078
    From this org
    $60,517
    From related orgs
    $60,517
    Other
    $20,044
    Hours/week
    22.5 + 27.5 related

  • Coletta A Black

    DIRECTOR OF ADMINISTRATION

    Total calculated
    $147,330
    From this org
    $61,262
    From related orgs
    $61,262
    Other
    $24,806
    Hours/week
    22.5 + 27.5 related

  • Angelina M Vega

    PROJECT COUNSEL

    Total calculated
    $139,134
    From this org
    $57,724
    From related orgs
    $57,724
    Other
    $23,686
    Hours/week
    22.5 + 27.5 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
SOCIAL CLUB DUES ARE PAID BY THE ORGANIZATION. THE DEVELOPMENT ACTIVITIES OF THE ORGANIZATION REQUIRE EXTENSIVE COOPERATION AND COORDINATION OF PUBLIC AND PRIVATE SUPPORT FOR SUCCESSFUL DOWNTOWN ECONOMIC REDEVELOPMENT. BREAKFAST AND LUNCH MEETINGS ARE THE OPTIMUM WAY TO SCHEDULE SCARCE TIME TO CONFIDENTIALLY DISCUSS COOPERATIVE PROJECT ACTIVITIES. THE BOARD SUGGESTED MEMBERSHIP IN THE SOCIAL CLUBS TO FACILITATE NECESSARY MEETINGS WITH BUSY EXECUTIVES.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202413209349314876

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