Overview
What is Cleveland Citywide Development Corporation?
The Cleveland Citywide Development Corporation (CCDC) is a nonprofit organization situated in Cleveland, Ohio. With a primary focus on promoting economic growth and employment within the city, CCDC reviews and facilitates grants, loans, and tax incremental financing for eligible businesses and other entities. This support is aimed at retaining and boosting employment opportunities within Cleveland. In addition to these financial aids, CCDC also manages a program called MNTI, which provides down payment assistance to qualified new homeowners in the Glenville neighborhood. In the year 2022, this program incurred expenses totaling $895,154 to assist homebuyers purchasing newly constructed or rehabilitated homes through the MNTI program.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75% (Three-Star out of Four Stars)
Cleveland Citywide Development Corporation has received a Three-Star rating from Charity Navigator, indicating a decent level of accountability and finance management. The organization excels with a perfect score in several key areas, including an entirely independent board and a robust audit and oversight committee, which suggests strong governance practices.
The financial management of the organization appears to be solid, with a program expense ratio of 90.05%, indicating that the vast majority of its expenses are directed towards program activities rather than administrative costs. This effective allocation of resources is a positive indicator of the nonprofit's commitment to its mission.
Despite the strong accountability and financial practices, the overall rating reflects an average performance in terms of overall transparency and operational metrics. There's always room for improvement, and stakeholders may benefit from additional details on program outcomes and broader operational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Cleveland Citywide Development Corporation legitimate?
Cleveland Citywide Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cleveland Citywide Development 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.
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What is the mission statement of Cleveland Citywide Development Corporation?
The Cleveland Citywide Development Corporation (CCDC) serves a mission to foster economic growth within its jurisdiction by reviewing and processing grants, loans, and tax incremental financing for eligible businesses and entities. This assistance is aimed at retaining or increasing employment within the city. In addition to financial aid, CCDC provides other forms of assistance to facilitate development projects. One of their initiatives is the MNTI Down Payment Assistance program, designed to support qualified new homeowners in specific neighborhoods by providing assistance for down payments on newly constructed or rehabilitated homes.
Who is the CEO of Cleveland Citywide Development Corporation?
Dan Rehor is the Lrc Board Member of Cleveland Citywide Development Corporation.
What is the revenue of Cleveland Citywide Development Corporation?
Cleveland Citywide Development Corporation's revenue in 2022 was $2,154,717.
Who are the executives of Cleveland Citywide Development Corporation and what are their salaries?
Here are 24 key members and their salaries:
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Where can I find the form 990 for Cleveland Citywide Development Corporation?
Cleveland Citywide Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Cleveland Citywide Development Corporation
Cleveland Citywide Development Corporation (CCDC) is dedicated to promoting economic growth within the city by reviewing and processing grants, loans, and providing tax incremental financing, along with other forms of assistance, to eligible businesses and organizations. This mission is geared towards retaining or increasing employment within the city. To further support this goal, CCDC introduced a Down Payment Assistance program in the Glenville neighborhood area in 2022, with the objective of providing financial aid to qualified new homeowners who are purchasing homes that have been newly constructed or rehabilitated through the MNTI program. This initiative incurred expenses amounting to $895,154 in the calendar year 2022. In essence, CCDC plays a vital role in stimulating economic development and fostering employment opportunities within the city, as well as assisting homebuyers in achieving their dreams of owning a home.
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Impact
October, 2024
Cleveland Citywide Development Corporation significantly boosts economic growth in Cleveland by reviewing and processing various forms of financial assistance, including grants, loans, and tax incremental financing. This engagement is instrumental in supporting eligible businesses, which fosters job retention and creation within the city.
One of its impactful initiatives is the MNTI Down Payment Assistance program aimed at new homeowners in the Glenville neighborhood. By facilitating access to financial support for qualified buyers of newly constructed or rehabilitated homes, this program not only helps individuals achieve homeownership but also contributes to the revitalization of the community. In 2022 alone, this program incurred expenses of $895,154, reflecting a substantial investment in enhancing the local housing market.
Through its comprehensive support strategies, Cleveland Citywide Development Corporation plays a pivotal role in community improvement, driving both economic development and residential stability in the region.
This information is meant to be a general summary of Cleveland Citywide Development 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: $392
- Gross Receipts: $2,154,717
Assets and Liabilities:
- Total Assets: $2,744,592
- Total Liabilities: $2,474,734
- Net Assets: $269,858
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Organization Details
Founding Year
1981
Principal Officer
Dan Rehor
Main Address
601 LAKESIDE AVE E RM 210, Cleveland, OH, 441141015
NTEE Category
Code: S300 - Community improvement
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