Overview
What is University Circle New Markets Inc?
University Circle New Markets Inc, based in Cleveland, Ohio, is a mission-driven nonprofit organization dedicated to serving and providing support for low-income communities. As a Community Development Corporation (CDE), it invests capital in low-income communities and individuals, primarily focusing on Cuyahoga County, Ohio, with a particular emphasis on the Greater University Circle area. The nonprofit is a supporting organization to University Circle Incorporated, a tax-exempt entity under Section 501(c)(3) of the Internal Revenue Code. Established in 1957, University Circle Incorporated's mission is to create a community experience that connects people with Cleveland's center of culture, healing, and learning. In 2012, University Circle New Markets Inc was awarded a $20 million New Markets Tax Credit allocation to support catalytic economic development and neighborhood transformation projects.
Is University Circle New Markets Inc legitimate?
University Circle New Markets Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. University Circle New Markets Inc 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of University Circle New Markets Inc?
University Circle New Markets Inc is a mission-driven, not-for-profit community development corporation (CDE). Its primary goal is to provide investment capital to support low-income communities or individuals in Cuyahoga County, Ohio, with a particular focus on the Greater University Circle area. Operating as a supporting organization to University Circle Incorporated, UC New Markets aims to serve and uplift these communities, contributing to their overall development. The organization's mission aligns with University Circle Incorporated, established in 1957, which seeks to build a community experience that connects all people with Cleveland's center of culture, healing, and learning.
Who is the CEO of University Circle New Markets Inc?
Christopher S Ronayne is the Principal Officer of University Circle New Markets Inc.
What is the revenue of University Circle New Markets Inc?
University Circle New Markets Inc's revenue in 2021 was $0.
Who are the executives of University Circle New Markets Inc and what are their salaries?
There 6 volunteers at University Circle New Markets Inc.
Here are 11 key members and their salaries:
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- Related: $231,885
- Other: $32,404
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- Related: $150,494
- Other: $14,660
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- Related: $119,477
- Other: $10,774
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- Related: $148,479
- Other: $6,245
- Compensation: $0
- Related: $110,304
- Other: $45,721
Where can I find the form 990 for University Circle New Markets Inc?
University Circle New Markets Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of University Circle New Markets Inc
University Circle New Markets Inc, a mission-driven not-for-profit community development corporation (CDE), is dedicated to serving and providing investment capital for low-income communities (LICS) or low-income persons in Cuyahoga County, Ohio. With a focus on the greater University Circle area, this organization operates as a supporting organization to University Circle Incorporated (UCI), an Ohio not-for-profit corporation exempt from taxation under Section 501(c)(3) of the IRC. Established in 1957, the mission of University Circle New Markets Inc is to contribute to building a community experience that connects all people with Cleveland's center of culture, healing, and learning. By serving as an investor in low-income communities, the organization strives to improve living conditions and opportunities for those in need, thereby fostering a more equitable and vibrant community.
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Impact
October, 2024
University Circle New Markets Inc (UCNM) plays a substantial role in bolstering local economies and enhancing the quality of life for residents in low-income communities, particularly in Cuyahoga County, Ohio. By leveraging a $20 million New Market Tax Credit (NMTC) allocation, UCNM has been pivotal in funding catalytic economic development and neighborhood transformation projects.
These initiatives not only create job opportunities but also revitalize underserved areas, fostering a sense of community and belonging among residents. The focus on the greater University Circle area enhances its cultural and health resources, enabling stronger connections in a region rich with educational and cultural institutions. UCNM's commitment to serving low-income populations ensures that investments are directed toward improving infrastructure, accessibility, and overall community well-being, making a lasting impact on the social and economic fabric of the region.
This information is meant to be a general summary of University Circle New Markets Inc. 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 2021.
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Organization Details
Founding Year
2009
Phone
(216) 791-3900Principal Officer
Christopher S Ronayne
Main Address
10831 MAGNOLIA DRIVE, CLEVELAND, OH, 44106
NTEE Category
Code: S31 - Community improvement
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