Cleveland Citywide Development Corporation

Analysis

Cleveland Citywide Development Corporation is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in September 1981, 45 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, Cleveland Citywide Development Corporation reported income of $830k and spending of $867k, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.4m to $830k (-42%), an average of -13% a year. The sharpest change came in the year to December 2023, when income dropped by 61%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Cleveland Citywide Development Corporation sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 77th percentile within OH. Charities of a similar size with the same main cause include Humanity Alliance ($830k), Opelika Chamber Foundation ($832k) and Lincoln Economic Development Association ($830k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% of the total. At year end it held assets of $1.8m against liabilities of $1.6m, net assets of $234k.