Overview
What is Columbus Downtown Development Corporation?
The Columbus Downtown Development Corporation (CDDC) is a nonprofit organization located in Columbus, Ohio, with a mission to revitalize the downtown area through planning, development, and management of projects. Established in response to a community input-driven 2010 strategic business plan, CDDC's initiatives include downtown park development, office and retail space renovation, and construction of significant landmarks like the National Veterans Memorial and Museum. In 2021, the City of Columbus enlisted CDDC to lead the development of a new downtown strategic plan. CDDC's recent projects include the acquisition of a 0.72-acre site at 497 East Town Street, where they are constructing a 98-unit affordable and workforce housing project called Topiary Park Crossing. This development is being funded through various sources and is expected to open in Fall 2023. Another notable accomplishment is the purchase of the Downtown YMCA in late 2022, which is part of the grant agreement between CDDC and the City of Columbus. With a team of 17 employees, CDDC continues to contribute to the revitalization of downtown Columbus and implements new plans for its future growth.
What are the reviews and ratings of this charity?
Charity Navigator Rating 94% - Four-Star out of Four Star rating
The Columbus Downtown Development Corporation has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and finance. The organization boasts an impressive score of 94% in this category, demonstrating effective management and transparency in its financial practices.
Strengths of the organization include a fully independent board of directors, with 100% of its members meeting this criterion. Additionally, the corporation has implemented robust financial oversight mechanisms, such as an audit and oversight committee, which further supports its strong financial health. The substantial program expense ratio of 96.91% indicates that most of its funds are directed towards its core mission rather than administrative costs.
While the data showcases notable strengths in governance and financial management, it is essential for potential donors to consider the broader impact of the organization's programs and initiatives. Overall, the Columbus Downtown Development Corporation appears to be a trustworthy nonprofit with a solid financial standing and a commitment to ethical practices.
This AI summary has been generated from information found on Charity Navigator.
Is Columbus Downtown Development Corporation legitimate?
Columbus Downtown Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Columbus Downtown 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,388,554
Professional Fundraising Fees: $0
Other Salaries and Wages: $115,393
For more financial information, click here
What is the mission statement of Columbus Downtown Development Corporation?
The Columbus Downtown Development Corporation is dedicated to planning, developing, and managing projects for the revitalization of urban areas. They are currently implementing a strategic business plan developed with community input, which includes the renovation of a former department store into office and retail space, development of downtown parks, and construction of a new veterans memorial and museum. In addition, CDDC is developing an affordable and workforce housing project, Topiary Park Crossing, on recently acquired land. The organization also leads the development of a new downtown strategic plan and manages grants for the purchase or renovation of other real property assets in the city. Construction and development projects are ongoing and are expected to continue into 2023 and beyond.
Who is the CEO of Columbus Downtown Development Corporation?
Greg Davies is the Principal Officer of Columbus Downtown Development Corporation. The CEO's salary of Columbus Downtown Development Corporation is $185,166 and their total compensation is $374,163.
What is the revenue of Columbus Downtown Development Corporation?
Columbus Downtown Development Corporation's revenue in 2022 was $21,128,443.
Who are the executives of Columbus Downtown Development Corporation and what are their salaries?
The average compensation at Columbus Downtown Development Corporation during 2022 was $88,467. There are 17 employees and 17 volunteers at Columbus Downtown Development Corporation.
Here are 27 key members and their salaries (Columbus Downtown Development Corporation's CEO's salary is $185,166 and their total compensation is $374,163):
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- Compensation: $158,751
- Related: $129,887
- Other: $28,657
- Compensation: $212,067
- Related: $173,509
- Other: $18,477
- Compensation: $185,166
- Related: $151,500
- Other: $37,497
- Compensation: $145,459
- Related: $119,012
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- Compensation: $84,094
- Related: $68,804
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- Compensation: $74,436
- Related: $60,902
- Other: $29,849
- Compensation: $62,221
- Related: $50,908
- Other: $21,904
- Compensation: $63,451
- Related: $51,914
- Other: $10,622
- Compensation: $72,086
- Related: $58,980
- Other: $15,044
- Compensation: $610,366
- Related: $499,391
- Other: $0
Where can I find the form 990 for Columbus Downtown Development Corporation?
Columbus Downtown Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Columbus Downtown Development Corporation
Columbus Downtown Development Corporation (CDDC) is a dynamic organization dedicated to the planning, development, and management of projects that revitalize downtown areas. With a mission rooted in community input, the corporation has been instrumental in bringing about significant transformations since the adoption of its 2010 strategic business plan.
CDDC has spearheaded numerous projects in recent years. One of these initiatives includes the renovation of a former department store into premier office and retail space. Another project involves the development of downtown parks, overseeing the Scioto Mile Park and the Scioto Greenways Project. In addition, CDDC played a key role in the construction of a new National Veterans Memorial and Museum and the development of the Downtown Scioto Peninsula.
In 2018, CDDC's subsidiary, SP Holdings, entered into agreements with three developers for the development of sites on Scioto Peninsula property that the corporation and SP Holdings were leasing from the city. These sales were completed in September 2020, and construction on the Phase 1 office, hotel, and residential sites began in 2021. The Phase 1 office site opened in 2022, while the residential and hotel sites are expected to open in 2023. The planning and development of the remaining components of the Scioto Peninsula Master Plan will continue into 2023 and beyond.
In response to a priority identified by the City of Columbus, CDDC acquired72 acres of land at 497 East Town Street in downtown Columbus in February 2021. The corporation is currently developing a 98-unit affordable and workforce housing project, Topiary Park Crossing, on the site, which is being funded through a commercial real estate loan, grants from the City of Columbus and Capitol South, and an equity investment from the corporation. Construction of the facility started in 2022, and it is expected to open in fall of 2023.
In 2021, the City of Columbus requested CDDC to lead the development of a new downtown strategic plan. CDDC engaged consultants and scheduled a series of public forums in 2022 to receive input from downtown stakeholders and the general public. The final plan was issued in late 2022, and implementation of the 2022 Downtown Strategic Plan will continue into 2023 and beyond. In 2022, CDDC and the City of Columbus entered into a grant agreement, providing CDDC with the funding for the purchase of the Downtown YMCA and the purchase or renovation of other real property assets in downtown Columbus. CDDC entered into a purchase and sale agreement for the YMCA in October 2022, with the closing of the purchase expected to be completed in early 2023.
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Impact
October, 2024
The Columbus Downtown Development Corporation (CDDC) plays a vital role in the revitalization and enhancement of downtown Columbus, significantly impacting the community through multiple initiatives. By implementing the 2010 Strategic Business Plan, the CDDC has focused on transforming areas within the city, including the renovation of a former department store into attractive office and retail spaces.
Additionally, the organization oversees the development of parks such as the Scioto Mile and Scioto Greenways, enhancing urban green spaces for both residents and visitors. The construction of the National Veterans Memorial and Museum is another key project that boosts cultural and historical recognition in downtown Columbus.
Recent developments on the Scioto Peninsula are also noteworthy. CDDC's partnership with developers has led to the construction of new office, hotel, and residential spaces, which began in 2021 and continued into 2023. This development not only provides essential services and housing but also attracts more foot traffic, contributing to the local economy.
Addressing housing needs, CDDC is spearheading the Topiary Park Crossing project, which will offer 98 affordable and workforce housing units. This initiative reflects a commitment to inclusivity and community well-being.
In collaboration with the City of Columbus, CDDC is actively engaged in updating the downtown strategic plan, ensuring ongoing improvement and adaptation based on community feedback. Furthermore, the acquisition of the Downtown YMCA and other properties highlights CDDC's strategic approach to urban redevelopment.
Overall, the CDDC's multifaceted initiatives are crucial for fostering economic growth, enhancing urban living, and creating vibrant community spaces in downtown Columbus.
This information is meant to be a general summary of Columbus Downtown 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: $90,398
- Program Service Revenue: $11,042,685
- Gross Receipts: $21,262,469
Assets and Liabilities:
- Total Assets: $124,783,991
- Total Liabilities: $14,958,235
- Net Assets: $109,825,756
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GOVERNMENT CONTRACTS
Revenue
$8,551,869
CONTRACT REVENUE
Revenue
$2,131,981
MUSEUM & PENINSULA PARKING
Revenue
$358,835
Organization Details
Founding Year
2002
Phone
(614) 545-5042Principal Officer
Greg Davies
Main Address
150 SOUTH FRONT STREET 210, COLUMBUS, OH, 432153416
NTEE Category
Code: S30 - Community improvement
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