Cincinnati Center City Development Corporation

Analysis

Cincinnati Center City Development Corporation is a registered charity in United States, based in Cincinnati, OH. It received its IRS tax-exemption ruling in September 2004, 22 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Cincinnati Center City Development Corporation reported income of $69.2m and spending of $62.3m, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $55.4m to $69.2m (+25%), an average of +5.7% a year. The sharpest change came in the year to December 2023, when income rose by 48%. Over the whole period it spent 113% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Cincinnati Center City Development Corporation sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within OH. Charities of a similar size with the same main cause include Hispanic Federation Inc ($67.9m), Community Action Kentucky Inc ($69.8m) and Self Help Ventures Fund ($67.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.9% and program service revenue 69% of the total. Compensation of current officers, directors and key employees was $1.3m (2.1% of expenses). Other salaries and wages came to $12.3m. At year end it held assets of $416.2m against liabilities of $428.2m, net assets of -$12.0m. It reported 544 employees.