Overview
What is Community Improvement Corporation Of Cuyahoga Falls?
The Community Improvement Corporation of Cuyahoga Falls, established in 1970, is a nonprofit organization committed to promoting industrial, commercial, civic, and economic development in the city of Cuyahoga Falls, Ohio. Operating under applicable sections of the Ohio Revised Code, the corporation provides financial assistance to eligible businesses in the city that are ineligible for funding through traditional lending institutions. This aid, known as "gap" financing, does not exceed 30% of the organization's total project expenses and is typically used for purchasing equipment or assets for the business. The corporation provides assistance in increments between $50,000 and $100,000, depending on the business's needs. Payments are deferred for the first year of financing and then amortized. In 2022, the corporation received a Brownfield Remediation Grant from the State of Ohio to revitalize a parcel of land, with the remediation slated to commence in spring 2023 and be completed by December 31, 2023. The total cost of the project is estimated at $1,392,732, with the grant covering $1,044,549, and the City of Cuyahoga Falls providing the remaining 25% funding match.
Is Community Improvement Corporation Of Cuyahoga Falls legitimate?
Community Improvement Corporation Of Cuyahoga Falls is a legitimate nonprofit organization registered as a 501(c)(4) entity. Community Improvement Corporation Of Cuyahoga Falls 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 Community Improvement Corporation Of Cuyahoga Falls?
The Community Improvement Corporation, established in 1970, is a not-for-profit organization with a mission to foster industrial, commercial, civic, and economic development in its jurisdiction. Under the Ohio Revised Code, the corporation provides financial assistance to eligible businesses that are ineligible for funding through traditional lending institutions. This aid, known as "gap" financing, is used for the purchase of equipment and assets, and it does not exceed 30% of the organization's total project expenses. The funding is offered in increments between $50,000 and $100,000, depending on the business's needs. Payments are deferred for the first year of financing and then amortized thereafter.
Who is the CEO of Community Improvement Corporation Of Cuyahoga Falls?
Don Walters is the President of Community Improvement Corporation Of Cuyahoga Falls.
What is the revenue of Community Improvement Corporation Of Cuyahoga Falls?
Community Improvement Corporation Of Cuyahoga Falls's revenue in 2022 was $2,062,563.
Who are the executives of Community Improvement Corporation Of Cuyahoga Falls and what are their salaries?
There 10 volunteers at Community Improvement Corporation Of Cuyahoga Falls.
Here are 10 key members and their salaries:
- Compensation: $0
- Related: $145,064
- Other: $50,020
- Compensation: $0
- Related: $149,699
- Other: $42,553
- Compensation: $0
- Related: $140,109
- Other: $49,821
- Compensation: $0
- Related: $140,043
- Other: $39,705
- Compensation: $0
- Related: $134,906
- Other: $30,352
- Compensation: $0
- Related: $101,147
- Other: $24,776
- Compensation: $0
- Related: $64,674
- Other: $38,656
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Community Improvement Corporation Of Cuyahoga Falls?
Community Improvement Corporation Of Cuyahoga Falls's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Community Improvement Corporation Of Cuyahoga Falls
The Community Improvement Corporation of Cuyahoga Falls, established in July 1970, was incorporated as a not-for-profit organization under Title XVII, Chapters 1702 and 1724 of the Ohio Revised Code. Its primary mission is to promote and advance the industrial, commercial, civic, and economic development of the city of Cuyahoga Falls, Ohio, under applicable sections of the Ohio Revised Code. The corporation achieves this goal by providing "gap" financial assistance to eligible businesses in the city. These businesses are typically ineligible for financing through traditional lending institutions. The financial aid provided by the Community Improvement Corporation of Cuyahoga Falls does not exceed 30% of the organization's total project expenses. This funding is primarily used for the purchase of equipment and assets for the business. The assistance is provided in increments ranging between 50,000 and 100,000 dollars, depending on the specific needs of the business. Payments are deferred for the first year of financing before being amortized.
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Impact
October, 2024
The Community Improvement Corporation of Cuyahoga Falls significantly contributes to the industrial, commercial, civic, and economic development of the city. By providing "gap" financial assistance, it supports for-profit businesses that face challenges securing traditional financing, allowing them to invest in necessary equipment and assets to grow and sustain their operations.
One prominent project is the revitalization of a formerly environmentally compromised site, known as Parcel Number 35-01540. The CIC has secured a substantial brownfield remediation grant from the State of Ohio to address environmental concerns and facilitate the site's redevelopment. This not only transforms a neglected area into a revitalized space but also positions it for future commercial use, which can enhance local economic activity and job creation.
By investing in businesses and focusing on recovering and revitalizing land, the organization plays a crucial role in fostering a sustainable economic environment in Cuyahoga Falls, contributing to the overall improvement of the community's quality of life.
This information is meant to be a general summary of Community Improvement Corporation Of Cuyahoga Falls. 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: $3,217
- Program Service Revenue: $2,150
- Gross Receipts: $2,062,563
Assets and Liabilities:
- Total Assets: $2,066,815
- Total Liabilities: $1,393,268
- Net Assets: $673,547
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
VENDOR FEES
Revenue
$2,150
Organization Details
Founding Year
1970
Phone
(330) 971-8137Principal Officer
Don Walters
Main Address
2310 2ND STREET, CUYAHOGA FALLS, OH, 44221
NTEE Category
Code: S31 - Community improvement
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