Overview
What is Cincinnati Development Fund?
The Cincinnati Development Fund (CDF) is a nonprofit lending institution established in 1988, situated in Cincinnati, Ohio. Its primary mission is to finance affordable housing development and community revitalization in the Greater Cincinnati area. Over the past 35 years, various financial institutions, foundations, socially motivated investors, and local and federal governments have contributed to CDF's sources of capital. CDF's expertise in evaluating complex loan applications with multiple financing sources makes it a favorable investment option for these organizations, allowing for easier and more cost-effective investments in the community. Funds are organized into loan pools, enabling lenders to diversify their loan portfolios and share the risk on each loan with other CDF participants. Since its inception, CDF has originated over $493 million in loans, resulting in the creation of more than 7,000 housing units. CDF focuses on lending in low-income communities where the need and impact are the greatest, and it is an equal opportunity provider, committed to driving community revitalization by providing capital access and technical assistance.
Official website here: www.cindevfund.org
Is Cincinnati Development Fund legitimate?
Cincinnati Development Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cincinnati Development Fund 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.
Here are some key statistics you may want to consider:
Executive Compensation: $1,149,550
Professional Fundraising Fees: $0
Other Salaries and Wages: $751,997
For more financial information, click here
What is the mission statement of Cincinnati Development Fund?
The Cincinnati Development Fund, established in 1988, is on a mission to revitalize communities by offering capital access and technical assistance. By providing innovative real estate financing for projects that strengthen low-income neighborhoods, the organization aims to improve lives. Over the years, local financial institutions, foundations, socially motivated investors, and government entities have contributed to the fund's sources of capital. The Cincinnati Development Fund's expertise in evaluating complex loan applications with multiple financing sources makes it easier and more cost-effective for these organizations to invest in the community. Funds are organized into loan pools, enabling lenders to diversify their loan portfolios and share the risk on each loan with other Cincinnati Development Fund participants. The organization has originated over $493 million in loans, resulting in the creation of more than 7,000 units of housing. The Cincinnati Development Fund primarily focuses on lending in low-income communities where need and impact are the greatest.
Official website here: www.cindevfund.org
Who is the CEO of Cincinnati Development Fund?
Joe Huber is the Principal Officer of Cincinnati Development Fund. The CEO's salary of Cincinnati Development Fund is $187,508 and their total compensation is $207,702.
Official website here: www.cindevfund.org
What is the revenue of Cincinnati Development Fund?
Cincinnati Development Fund's revenue in 2023 was $10,309,687.
Official website here: www.cindevfund.org
Who are the executives of Cincinnati Development Fund and what are their salaries?
The average compensation at Cincinnati Development Fund during 2023 was $111,856. There are 17 employees and 20 volunteers at Cincinnati Development Fund.
Here are 22 key members and their salaries (Cincinnati Development Fund's CEO's salary is $187,508 and their total compensation is $207,702):
- Joseph Huber (President & Ceo)
- Angela Ginty (Chief Administive Officer)
- Jennifer Larkins (Chief Financial Officer)
- Jeanne Golliher (Ceo - Term Exp: 2022)
- Robbie Suggs (Chief Lending Officer)
- Morag Adlon (Senior Loan Officer)
- Sara Sheets (Dir. Of Strategic Initiatives)
- Kimberly Mauer (Board Chair) [Trustee/Director]
- Susan Thomas (Vice Chair) [Trustee/Director]
- Kevin Cooney (Treasurer) [Trustee/Director]
- Kathleen Schwab (Secretary) [Trustee/Director]
- Philip Denning (Trustee)
- Dora Anim (Trustee)
- Darin Hall (Trustee)
- Murray Sinclaire (Trustee)
- Eric Avner (Trustee)
- Kevin Hughes (Trustee)
- Doug Burgess (Trustee)
- Rea N Waldon Phd (Trustee)
- Robert Alexander (Trustee)
- Margaret Moertl (Trustee)
- Jimmy Wilson (Trustee)
Official website here: www.cindevfund.org
Where can I find the form 990 for Cincinnati Development Fund?
The Cincinnati Development Fund’s most recent form 990 was submitted in 2023 and can be accessed here
Official website here: www.cindevfund.org
Learn more at the official website: www.cindevfund.org
Mission Statement of Cincinnati Development Fund
The Cincinnati Development Fund, established in 1988, is a nonprofit lending institution with a mission to drive community revitalization. This is achieved by providing capital access and technical assistance. Their primary objective is to finance affordable housing development and community revitalization projects in the greater Cincinnati area. The fund's innovative approach to real estate financing strengthens low-income neighborhoods and improves lives.
Over the past 35 years, the Cincinnati Development Fund has attracted investments from local financial institutions, foundations, socially motivated investors, and both local and federal governments. These organizations invest in the fund due to its expertise in evaluating complex loan applications with multiple financing sources. This capability makes it easier and more cost-effective for these organizations to invest in the community. Furthermore, funds are organized into loan pools, allowing lenders to diversify their loan portfolios and share the risk on each loan with other Cincinnati Development Fund participants.
The Cincinnati Development Fund's efforts have resulted in over $493 million in loans, leading to the creation of more than 7,000 units of housing. The organization focuses on lending in low-income communities where need and impact are the greatest. As an equal opportunity provider, the Cincinnati Development Fund strives to contribute to the betterment of its community by providing innovative financing solutions.
Impact
This information is meant to be a general summary of Cincinnati Development Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Cincinnati Development Fund's impact is significant in driving community revitalization by providing capital access and technical assistance. Over the past 35 years, they have originated more than $493 million in loans, resulting in the creation of more than 7,000 units of housing in low-income communities where the need and impact are the greatest. Their innovative real estate financing for projects helps strengthen neighborhoods and improve lives, making it easier and more cost-effective for various organizations to invest in the community. Their expertise in evaluating complex loan applications with multiple financing sources benefits both lenders and the community by sharing the risk and diversifying loan portfolios.
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 2023.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST INCOME
Revenue
$4,104,333
SERVICING FEE
Revenue
$1,160,911
Organization Details
Founding Year
1988
Phone
(513) 721-7211
Principal Officer
Joe Huber
Main Address
1224 RACE STREET, CINCINNATI, OH, 45202
Website
www.cindevfund.org
NTEE Category
Code: L820 - Housing
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