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
What are the reviews and ratings of this charity?
**Cincinnati Development Fund Rating: 91% (Four-Star out of Four Stars)**
The Cincinnati Development Fund (CDF) has achieved an impressive Four-Star rating on Charity Navigator, indicating a high level of accountability and financial management. With a score of 91% in Accountability & Finance, the organization demonstrates strong governance practices, including a fully independent board and comprehensive financial oversight. CDF's commitment to transparency is evident through its established policies and accurate documentation.
Strengths of CDF include a high program expense ratio of nearly 83%, which signifies that a significant portion of its funds directly supports community revitalization efforts. The leadership adaptability score of 100 reflects the organization’s responsive strategies, such as supporting developers during economic downturns, showcasing its resilience and commitment to its mission. Additionally, their investment in leadership development suggests a proactive approach to nurturing talent within the organization.
While no user reviews from GreatNonprofits are available to provide community insight, the overall data indicates that CDF is well-regarded for its mission and operational effectiveness. The organization continues to focus on increasing its influence and awareness of its products within the Greater Cincinnati area, which may enhance its ability to drive impactful projects in the future.
This AI summary has been generated from information found on Charity Navigator.
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.
Heare 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
Official website here: www.cindevfund.org
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):
- Compensation: $244,325
- Related: $0
- Other: $40,954
- Compensation: $187,508
- Related: $0
- Other: $20,194
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- Compensation: $222,828
- Related: $0
- Other: $12,492
- Compensation: $183,961
- Related: $0
- Other: $37,709
- Compensation: $189,493
- Related: $0
- Other: $10,088
- Compensation: $114,706
- Related: $0
- Other: $34,809
- Compensation: $133,318
- Related: $0
- Other: $17,969
Official website here: www.cindevfund.org
Where can I find the form 990 for Cincinnati Development Fund?
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.
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Impact
October, 2024
Cincinnati Development Fund (CDF) significantly impacts the Greater Cincinnati area by driving community revitalization through enhanced access to capital and technical assistance. Established in 1988, CDF focuses on financing affordable housing development and improving the quality of life in low-income neighborhoods. Over the past 35 years, CDF has successfully originated more than $493 million in loans, leading to the creation of over 7,000 housing units.
By collaborating with local financial institutions, foundations, socially motivated investors, and government entities, CDF has cultivated a robust network of capital sources, enabling effective evaluation of complex loan applications. This collaboration not only streamlines investment in community projects but also allows lenders to diversify their loan portfolios and mitigate risks through organized loan pools.
CDF's targeted lending practices emphasize low-income communities, where the demand for safe, affordable housing is crucial. Through its innovative approach to real estate financing, CDF plays a vital role in strengthening neighborhoods and directly enhancing the lives of those residing within them.
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.
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.
- Investment Income: $143,407
- Program Service Revenue: $5,265,244
- Gross Receipts: $10,644,401
Assets and Liabilities:
- Total Assets: $69,003,326
- Total Liabilities: $38,716,534
- Net Assets: $30,286,792
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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) 721-7211Principal Officer
Joe Huber
Main Address
1224 RACE STREET, CINCINNATI, OH, 45202
Website
www.cindevfund.orgNTEE Category
Code: L820 - Housing
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