Cleveland Development Advisors Community Reinvestment Fund Inc

Analysis

Cleveland Development Advisors Community Reinvestment Fund Inc is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in May 2014, 12 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Cleveland Development Advisors Community Reinvestment Fund Inc reported income of $9.9m and spending of $4.4m, leaving 56% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.9m to $9.9m (+25%), an average of +5.8% a year. The sharpest change came in the year to December 2023, when income rose by 132%. Over the whole period it spent 54% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Cleveland Development Advisors Community Reinvestment Fund Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within OH. Charities of a similar size with the same main cause include Great FLS Development Authority Inc ($9.9m), Elevate Ventures Inc ($10.0m) and Carteret Business Partnership Inc ($9.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 39% of the total. At year end it held assets of $46.1m against liabilities of $22.0m, net assets of $24.2m.