Overview
What is Block 3 Community Urban Redevelopment Corporation?
Block 3 Community Urban Redevelopment Corporation is a nonprofit organization located in Cincinnati, Ohio. Its primary mission is to redevelop blighted urban areas by constructing real property, primarily for student housing. To achieve this goal, they issued bonds and incurred interest expenses. Although the description focuses on student housing, it's essential to note that their aim is broader: revitalizing urban areas that have fallen into disrepair.
Is Block 3 Community Urban Redevelopment Corporation legitimate?
Block 3 Community Urban Redevelopment Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Block 3 Community Urban Redevelopment Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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Other Salaries and Wages: $0
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What is the mission statement of Block 3 Community Urban Redevelopment Corporation?
The Block 3 Community Urban Redevelopment Corporation's mission revolves around revitalizing blighted urban areas. They primarily achieve this by developing real estate, with a focus on student housing. This initiative aims to breathe new life into neglected urban areas, contributing to their overall renewal and transformation. The organization has primarily financed its projects through the issuance of bonds, covering the construction costs of student housing. The corporation's activities reflect a commitment to improving urban landscapes and providing suitable housing solutions for students.
Who is the CEO of Block 3 Community Urban Redevelopment Corporation?
Daniel Deering is the President of Block 3 Community Urban Redevelopment Corporation.
What is the revenue of Block 3 Community Urban Redevelopment Corporation?
Block 3 Community Urban Redevelopment Corporation's revenue in 2022 was $8,303,549.
Who are the executives of Block 3 Community Urban Redevelopment Corporation and what are their salaries?
There 5 volunteers at Block 3 Community Urban Redevelopment Corporation.
Here are 6 key members and their salaries:
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- Related: $112,000
- Other: $13,500
Where can I find the form 990 for Block 3 Community Urban Redevelopment Corporation?
Block 3 Community Urban Redevelopment Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Block 3 Community Urban Redevelopment Corporation
Block 3 Community Urban Redevelopment Corporation is committed to revitalizing blighted urban areas. Their primary focus is on the development of real property, primarily for student housing. This organization aims to transform neglected urban spaces, contributing to a more vibrant and livable community. To accomplish this, they have issued bonds primarily for the construction of student housing. The expenses incurred include the interest on these bonds and a subordinate loan to the University of Cincinnati. Through their redevelopment efforts, Block 3 Community Urban Redevelopment Corporation is making a significant impact on urban areas, providing housing solutions that cater to the needs of students.
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Impact
October, 2024
Block 3 Community Urban Redevelopment Corporation significantly impacts urban environments by focusing on the redevelopment of blighted areas in Cincinnati through the construction of student housing. By issuing bonds aimed at financing these developments, the organization addresses the pressing need for quality housing options for students, while also revitalizing neighborhoods that have faced decline.
This initiative not only provides safe and accessible living spaces for students but also stimulates economic growth in the region. The construction and subsequent influx of residents benefit local businesses and can lead to improved public services. Additionally, by transforming underused or derelict properties, Block 3 contributes to enhancing community aesthetics and increasing property values, creating a more vibrant urban landscape.
Through these efforts, the organization plays a crucial role in fostering community development, supporting local economies, and addressing housing shortages, ultimately enriching the lives of students and residents alike.
This information is meant to be a general summary of Block 3 Community Urban Redevelopment Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $174,400
- Program Service Revenue: $7,647,945
- Gross Receipts: $9,229,089
Assets and Liabilities:
- Total Assets: $42,525,355
- Total Liabilities: $56,011,678
- Net Assets: -$13,486,323
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
STUDENT HOUSING RENTAL REVENUE
Revenue
$7,647,945
Organization Details
Founding Year
2003
Phone
(513) 564-0078Principal Officer
Daniel Deering
Main Address
2510 OHIO AVENUE C, CINCINNATI, OH, 45219
NTEE Category
Code: T11 - Philanthropy
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