Overview
What is Cleveland Development Advisors Community Reinvestment Fund Inc?
Cleveland Development Advisors Community Reinvestment Fund Inc, or CDA-CRF, is a nonprofit organization dedicated to fostering community development and revitalization in Northeast Ohio. They achieve this goal by offering investment capital to low-income communities and individuals, promoting sustainable neighborhoods, and encouraging small business growth. CDA-CRF manages three investment funds: Cleveland Development Partnership II LP, Advance Cleveland Development Fund, LLC, and Cleveland New Markets Investment Fund II, LLC. These funds have collectively invested over $510 million in 167 projects since 1989, resulting in the creation of over 8,300 permanent jobs and 9,000 construction jobs. In 2022, they aided projects such as the Greater Cleveland Food Bank, Providence House, MAGNET, and the May Dugan Center, contributing to initiatives that include expanding food storage capacity, building a crisis nursery, renovating a manufacturing network headquarters, and renovating a social service organization's headquarters.
Official website here: www.clevelanddevelopmentadvisors.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Cleveland Development Advisors Community Reinvestment Fund Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization has a perfect score in several key areas, indicating a commitment to transparency and responsible fiscal management. With a majority of independent board members and an effective audit and oversight committee, it demonstrates robust governance practices.
The financial health of the organization is also noteworthy, with a low liabilities to assets ratio of 46.02%, showcasing its stability and efficient use of resources. Furthermore, the high program expense ratio of 96.83% suggests that the majority of its funding directly supports its mission, which is a positive sign for potential donors looking to maximize their impact.
While the data highlights numerous strengths, it does not provide specific feedback on program outcomes or community impact, which could further inform stakeholders about the effectiveness of the organization's initiatives. Overall, Cleveland Development Advisors Community Reinvestment Fund Inc appears to be a well-managed nonprofit dedicated to its goals.
This AI summary has been generated from information found on Charity Navigator.
Is Cleveland Development Advisors Community Reinvestment Fund Inc legitimate?
Cleveland Development Advisors Community Reinvestment Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cleveland Development Advisors Community Reinvestment Fund Inc 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.clevelanddevelopmentadvisors.com
What is the mission statement of Cleveland Development Advisors Community Reinvestment Fund Inc?
Cleveland Development Advisors Community Reinvestment Fund Inc's mission is centered around promoting community development and revitalization. They achieve this by offering investment capital to low-income communities and individuals in Northeast Ohio. The goal is to create sustainable neighborhoods and foster small business growth. This is done through a collaborative approach with public, private, and not-for-profit partners. Their mission, as a 501(c)(3) organization, is to establish inclusive and prosperous neighborhoods in these areas by providing innovative financing solutions and technical assistance for catalytic real estate and business development projects.
Official website here: www.clevelanddevelopmentadvisors.com
Who is the CEO of Cleveland Development Advisors Community Reinvestment Fund Inc?
Yvette M Ittu is the Chair of Cleveland Development Advisors Community Reinvestment Fund Inc. The CEO's salary of Cleveland Development Advisors Community Reinvestment Fund Inc is $0 and their total compensation is $0.
Official website here: www.clevelanddevelopmentadvisors.com
What is the revenue of Cleveland Development Advisors Community Reinvestment Fund Inc?
Cleveland Development Advisors Community Reinvestment Fund Inc's revenue in 2022 was $4,293,488.
Official website here: www.clevelanddevelopmentadvisors.com
Who are the executives of Cleveland Development Advisors Community Reinvestment Fund Inc and what are their salaries?
There 17 volunteers at Cleveland Development Advisors Community Reinvestment Fund Inc.
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Official website here: www.clevelanddevelopmentadvisors.com
Where can I find the form 990 for Cleveland Development Advisors Community Reinvestment Fund Inc?
Cleveland Development Advisors Community Reinvestment Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.clevelanddevelopmentadvisors.com
Learn more at the official website: www.clevelanddevelopmentadvisors.com
Mission Statement of Cleveland Development Advisors Community Reinvestment Fund Inc
Cleveland Development Advisors Community Reinvestment Fund Inc, as a mission-driven organization, strives to foster community development and rejuvenation in low-income areas of Northeast Ohio. By offering investment capital, they aim to support both low-income individuals and communities, with the ultimate goal of creating sustainable neighborhoods. The organization achieves this objective through collaborative efforts with various public, private, and non-profit entities.
In line with its mission, Cleveland Development Advisors Community Reinvestment Fund Inc operates with a focus on promoting inclusivity and thriving communities. This is achieved by providing innovative financing solutions and technical assistance to catalytic real estate and business development projects. By doing so, the nonprofit organization contributes significantly to the revitalization of neighborhoods and the growth of small businesses, thereby improving the overall living conditions of the community. In all its endeavors, Cleveland Development Advisors Community Reinvestment Fund Inc adheres to the guidelines set out in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, ensuring its operations are dedicated to religious, charitable, scientific, literary, or educational purposes.
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Impact
July, 2024
Cleveland Development Advisors Community Reinvestment Fund Inc's impact is significant in promoting community development and revitalization in Northeast Ohio. Through its investment funds, CDA has invested over $510 million since 1989 in 167 projects. This has led to the creation of over 7,700 new housing units, 13.9 million square feet of commercial space, and generated over $4.2 billion in total development. Additionally, these investments have created over 8,300 permanent jobs and 9,000 construction jobs.
In 2022 alone, CDA's Investment Funds supported various projects, such as providing funding for the new construction of a warehouse and distribution center for the Greater Cleveland Food Bank, financing a crisis nursery facility for Providence House, supporting the renovation of a former school building for MAGNET, and helping with the renovation and expansion of the May Dugan Center headquarters. These projects are not only creating new facilities and spaces but also increasing the capacity to serve more individuals in need in the community.
Overall, Cleveland Development Advisors Community Reinvestment Fund Inc plays a crucial role in building inclusive and thriving neighborhoods in Northeast Ohio by providing innovative financing solutions and technical assistance to catalytic real estate and business development projects.
This information is meant to be a general summary of Cleveland Development Advisors Community Reinvestment Fund Inc. 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: $73,910
- Program Service Revenue: $3,259,578
- Gross Receipts: $4,293,488
Assets and Liabilities:
- Total Assets: $34,461,878
- Total Liabilities: $15,861,073
- Net Assets: $18,600,805
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Management Services
Revenue
$2,325,715
Interest Income-Loans
Revenue
$863,172
Loan Fees
Revenue
$44,983
Equity Invstmts/Grants
Revenue
$25,708
Organization Details
Founding Year
2012
Phone
(216) 592-2274Principal Officer
Yvette M Ittu
Main Address
1240 Huron Road 300, Cleveland, OH, 44115
NTEE Category
Code: S31 - Community improvement
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