Overview
What is The Consortium For Ongoing Reinvestment Efforts?
The Consortium For Ongoing Reinvestment Efforts, often referred to as Hamilton Core Fund, is a nonprofit organization based in Hamilton, Ohio. Their primary mission is to revitalize the urban center of Hamilton by managing various loan funds. These funds are geared towards redevelopment projects in distressed or struggling business districts and neighborhoods. The Core Investment Fund is utilized in flexible financing arrangements, while the Strategic Property Fund is used to purchase buildings and vacant properties in target areas for future development. Lastly, the Residential Redevelopment Fund is employed in acquiring and maintaining residential properties to prevent further deterioration. Their goal is to accelerate Hamilton's urban renaissance through targeted real estate investments.
Official website here: www.corehamilton.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, Two-Star out of Four Star rating. The Consortium For Ongoing Reinvestment Efforts has received a Two-Star rating, indicating that while there are some strengths in its accountability and financial practices, there are significant areas for improvement. The organization's high program expense ratio of 96.27% suggests that a large portion of its funding is directed towards its mission-related activities.
The nonprofit boasts a fully independent board, scoring 100% for having independent members, which is a strong point for governance. Additionally, it has received full marks for its financial audit and the absence of material diversion of assets. However, the absence of key policies, such as a whistleblower policy and document retention procedures, raises concerns about its transparency and governance practices.
The liabilities to assets ratio is notably high at 82.94%, indicating potential financial risk and suggesting the organization may be heavily reliant on its debt. The failure to post its tax forms on its website and other documentation gaps may hinder public trust and accountability. Overall, while the organization demonstrates commitment towards program expenditure, it must address its governance and financial management practices to improve its overall rating and public perception.
This AI summary has been generated from information found on Charity Navigator.
Is The Consortium For Ongoing Reinvestment Efforts legitimate?
The Consortium For Ongoing Reinvestment Efforts is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Consortium For Ongoing Reinvestment Efforts 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:
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For more financial information, click here
Official website here: www.corehamilton.org
What is the mission statement of The Consortium For Ongoing Reinvestment Efforts?
The Consortium For Ongoing Reinvestment Efforts, often referred to as CORE, aims to accelerate urban renaissance by making targeted investments in real estate development or redevelopment projects within a city's urban core. To achieve this goal, CORE manages loan funds intended for redevelopment and economic development in distressed and struggling business districts and neighborhoods. The Core Investment Fund is used in flexible, structured financing arrangements based on the project's type and capital requirements. The Strategic Property Fund is utilized to identify and purchase buildings and vacant property in target areas for future development. Lastly, the Residential Redevelopment Fund is employed to acquire residential properties, ensuring their maintenance and preventing further deterioration.
Official website here: www.corehamilton.org
Who is the CEO of The Consortium For Ongoing Reinvestment Efforts?
Michael Dingeldein is the Board Member of The Consortium For Ongoing Reinvestment Efforts.
Official website here: www.corehamilton.org
What is the revenue of The Consortium For Ongoing Reinvestment Efforts?
The Consortium For Ongoing Reinvestment Efforts's revenue in 2022 was $1,730,191.
Official website here: www.corehamilton.org
Who are the executives of The Consortium For Ongoing Reinvestment Efforts and what are their salaries?
There 7 volunteers at The Consortium For Ongoing Reinvestment Efforts.
Here are 7 key members and their salaries:
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Official website here: www.corehamilton.org
Where can I find the form 990 for The Consortium For Ongoing Reinvestment Efforts?
The Consortium For Ongoing Reinvestment Efforts's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.corehamilton.org
Learn more at the official website: www.corehamilton.org
Mission Statement of The Consortium For Ongoing Reinvestment Efforts
The Consortium for Ongoing Reinvestment Efforts, often referred to as CORE, is committed to accelerating urban renewal in its city's core area. To achieve this, CORE focuses on targeted investments in real estate development or redevelopment projects. By managing loan funds tailored for distressed and struggling business districts and neighborhoods, CORE aims to strengthen the core assets of the city center, thereby spurring economic development.
In pursuit of its mission, CORE employs various funding instruments. The Core Investment Fund is designed for flexible, structured financing arrangements, catering to the unique needs and capital requirements of different projects. The Strategic Property Fund serves to identify and acquire buildings and vacant properties in target areas, paving the way for future development. Lastly, the Residential Redevelopment Fund is utilized to acquire residential properties, ensuring their maintenance and preventing further deterioration. Through these strategic investments, CORE aims to contribute to the city's urban renaissance.
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Impact
October, 2024
The Consortium For Ongoing Reinvestment Efforts (CORE) plays a vital role in transforming Hamilton's urban landscape by focusing on targeted investments in real estate development and redevelopment. Its mission is centered around accelerating the city’s urban renaissance, primarily through strategic financial initiatives that bolster the city’s core assets.
By managing a variety of loan funds, CORE aims to revitalize distressed neighborhoods and struggling business districts. The flexibility in financing arrangements allows for tailored support to projects based on their specific capital needs, which is crucial for encouraging innovative development in areas that require a significant turnaround.
Additionally, the Strategic Property Fund enables CORE to actively seek and acquire buildings and vacant lands in key locations, setting the stage for future developments. This proactive approach not only fosters economic growth but also mitigates the risks associated with urban blight. Furthermore, the Residential Redevelopment Fund ensures that residential properties are well-maintained, preventing deterioration and promoting stable communities.
Through these initiatives, CORE significantly impacts community improvement, revitalizing Hamilton's city center, enhancing economic development, and ultimately contributing to a vibrant urban environment.
This information is meant to be a general summary of The Consortium For Ongoing Reinvestment Efforts. 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: $2,596
- Program Service Revenue: $1,119,595
- Gross Receipts: $1,730,191
Assets and Liabilities:
- Total Assets: $11,949,218
- Total Liabilities: $9,967,221
- Net Assets: $1,981,997
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,088,226
MANAGEMENT FEES
Revenue
$31,369
Organization Details
Founding Year
2012
Phone
(513) 607-8732Principal Officer
Michael Dingeldein
Main Address
236 HIGH STREET, HAMILTON, OH, 45011
Website
www.corehamilton.orgNTEE Category
Code: S30 - Community improvement
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