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Nonprofiteer
← CITYWIDE DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by CITYWIDE DEVELOPMENT CORPORATION.

Totals

Total revenue
$4,158,457
Total expenses
$2,278,600
Contributions and grants received
$2,671,449
Grants paid
$347,259
Program service revenue
$542,925
Investment income
$944,083
Other revenue
$0
Total assets, end of year
$49,314,647
Total liabilities, end of year
$37,122,943
Net assets or fund balances, end of year
$12,191,704
Program services expenses (Part IX)
$1,740,567
Management and general expenses
$538,033
Fundraising expenses
$0
Program service expenses (Part III)
$1,740,567

Program services were 76.4% 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)

    $2,671,449

  • 2a · Program service revenue: ECONOMIC AND COMMUNITY

    total $542,925 · related or exempt $542,925

  • 3 · Investment income

    total $944,083 · excluded $944,083

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $347,259 · program services $347,259

  • 5 · Compensation of officers, directors and key employees

    total $955,689 · program services $825,478 · management and general $130,211

  • 7 · Other salaries and wages

    total $756,907 · program services $653,781 · management and general $103,126

  • 8 · Pension plan contributions

    total $53,766 · program services $46,441 · management and general $7,325

  • 9 · Other employee benefits

    total $85,585 · program services $73,924 · management and general $11,661

  • 10 · Payroll taxes

    total $116,291 · program services $100,447 · management and general $15,844

  • 11b · Fees: legal

    total $6,966 · program services $6,966

  • 11c · Fees: accounting

    total $47,330 · management and general $47,330

  • 11g · Fees: other

    total $49,738 · program services $47,463 · management and general $2,275

  • 12 · Advertising and promotion

    total $33,308 · program services $300 · management and general $33,008

  • 13 · Office expenses

    total $54,405 · management and general $54,405

  • 14 · Information technology

    total $62,328 · management and general $62,328

  • 17 · Travel

    total $1,516 · program services $1,516

  • 19 · Conferences, conventions and meetings

    total $7,640 · program services $7,640

  • 22 · Depreciation, depletion and amortization

    total $107,914 · program services $107,914

  • 23 · Insurance

    total $25,547 · management and general $25,547

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $315,174 · program services $315,174

  • 24b · Other expenses: REAL ESTATE COSTS

    total $291,146 · program services $291,146

  • 24c · Other expenses: MISCELLANEOUS

    total $59,663 · program services $14,690 · management and general $44,973

  • 24d · Other expenses: ALLOCATED EXPENSES

    total -$1,099,572 · program services -$1,099,572

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,009,978 · end of year $3,046,538

  • 2 · Savings and temporary cash investments

    beginning of year $3,104,066 · end of year $8,093,429

  • 4 · Accounts receivable

    beginning of year $92,307 · end of year $80,935

  • 7 · Other notes and loans receivable

    beginning of year $2,970,888 · end of year $2,741,221

  • 9 · Prepaid expenses and deferred charges

    beginning of year $13,276 · end of year $21,353

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

    $3,622,120

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

    $1,141,522

  • 10c · Land, buildings and equipment, net

    beginning of year $2,536,908 · end of year $2,480,598

  • 13 · Investments: program-related

    beginning of year $96,106 · end of year $112,423

  • 15 · Other assets

    beginning of year $31,366,379 · end of year $32,738,150

  • 17 · Accounts payable and accrued expenses

    beginning of year $650,237 · end of year $705,469

  • 18 · Grants payable

    beginning of year $325,439 · end of year $610,917

  • 19 · Deferred revenue

    beginning of year $3,355,197 · end of year $1,030,207

  • 23 · Secured mortgages and notes payable

    beginning of year $2,796,000 · end of year $2,796,000

  • 24 · Unsecured notes and loans payable

    beginning of year $625,604 · end of year $4,740,292

  • 25 · Other liabilities

    beginning of year $27,125,585 · end of year $27,240,058

  • 27 · Net assets without donor restrictions

    beginning of year $10,311,846 · end of year $12,191,704

Mission and programs · 2024

Mission

STRENGTHEN AND GROW DAYTON THROUGH STRATEGIC ECONOMIC AND COMMUNITY DEVELOPMENT

Activities or mission (Part I)

STRENGTHEN AND GROW DAYTON THROUGH STRATEGIC ECONOMIC AND COMMUNITY DEVELOPMENT.

  • CITYWIDE AND AFFILITES CLOSED A TOTAL OF $44M IN LOANS FOR PROJECTS TOTALING $194M OF INVESTMENT CREATING 502 JOBS IN THE DAYTON REGION. DAYTON REGION NEW MARKET FUND (DRNMF), AN AFFILIATE OF CITYWIDE DEVELOPMENT CORP., PLACED OVER $38M IN FEDERAL AND $2M IN STATE NEW MARKET TAX CREDITS TO FACILITATE THE FINANCING OF A NEW KROGER, FAMILY HEALTH SERVICES, SHEARER'S, AND CHILDREN'S WESTSIDE PROPERTY PROJECT. CITYWIDE REMAINS HIGHLY ACTIVE IN THE TECH TOWN PROJECT, WHICH OFFERS A UNIQUE TECHNOLOGY SUPPORT SYSTEM THAT ENCOURAGES COLLABORATION, BUSINESS ACCELERATION, AND TECHNOLOGY COMMERCIALIZATION. CITYWIDE ALSO CONTINUES TO BE THE LEAD ORGANIZATION IN DAYTON FOR THE DESIGN AND IMPLEMENTATION OF COMPREHENSIVE COMMUNITY DEVELOPMENT.

    Expenses $1,740,567 · Grants $347,259 · Revenue $542,925

As filed on the 2024 return.

Listed in Part VII

  • DAVID MELIN

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • FRANK FERRANTE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DAVE DICKERSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • SHELLEY DICKSTEIN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • STEVE GONDOL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • GINA MCFARLANE-EL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KRISTIN FINCH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • FRANK PETRIE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • TERRI BETHEL

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • AMY RIEGEL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KIYA PATRICK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MARK WILLIAMS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • TODD PLEIMAN

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • JOSEPH GORDON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KENA BROWN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • WALT HIBNER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • RODDELL MCCULLOUGH

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • NIKOL MILLER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • BOB RUZINSKY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • STEVE SKERL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ROSALIE GEHRICH

    CFO / ASST TREASURER

    Total calculated
    $192,140
    From this org
    $168,408
    From related orgs
    $0
    Other
    $23,732
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $155,908
    Bonus
    $12,500
    Other
    $0
    Deferred
    $13,473
    Nontaxable benefits
    $10,259
    Filer's total
    $192,140

  • DANIEL KANE

    PRESIDENT

    Total calculated
    $267,392
    From this org
    $220,850
    From related orgs
    $0
    Other
    $46,542
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $203,350
    Bonus
    $17,500
    Other
    $0
    Deferred
    $20,646
    Nontaxable benefits
    $25,896
    Filer's total
    $267,392

  • KAREN DEMASI

    ASSISTANT SECRETARY

    Total calculated
    $167,424
    From this org
    $147,456
    From related orgs
    $0
    Other
    $19,968
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $135,456
    Bonus
    $12,000
    Other
    $0
    Deferred
    $11,796
    Nontaxable benefits
    $8,172
    Filer's total
    $167,424

  • HEATHER CORBIN

    SBA DIRECTOR/SENIOR BUSINE

    Total calculated
    $168,237
    From this org
    $156,414
    From related orgs
    $0
    Other
    $11,823
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $154,414
    Bonus
    $2,000
    Other
    $0
    Deferred
    $11,823
    Nontaxable benefits
    $0
    Filer's total
    $168,237

  • SHANE WILKEN

    SENIOR BUSINESS DEVELOPMEN

    Total calculated
    $160,496
    From this org
    $142,152
    From related orgs
    $0
    Other
    $18,344
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $137,152
    Bonus
    $5,000
    Other
    $0
    Deferred
    $11,372
    Nontaxable benefits
    $6,972
    Filer's total
    $160,496

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant

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 3:
COMPENSATION IS ESTABLISHED BY USING A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT AND A COMPENSATION SURVEY OR STUDY.

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

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Provenance

Return type
form_990
Tax year
2024
Filed
11 August 2025
IRS schema version
2024v5.2
Source object
202502279349302065

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