Civic Intelligence

Avondale Comprehensive Development Corporation

990 • Fiscal year 2022 • EIN 45-2412695

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 14, 2023

Organization ProfileWWW.GROWAVONDALE.ORG
3635 Reading Road 200Cincinnati, OH 45229

(513) 861-2232

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

91st percentile

0.79x

Higher debt load relative to assets than 91% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

93rd percentile

2.62x

Higher debt load relative to revenue than 93% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

87th percentile

45%

Higher net margin than 87% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

73rd percentile

$110,062

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 9.1% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

85th percentile

37%

Faster asset growth than 85% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

58th percentile

12%

Faster revenue growth than 58% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$4,023,756

Up $1,088,501 (+37%) from 2021

Net Assets

Up

$843,873

Up $543,402 (+181%) from 2021

Liabilities

Up

$3,179,883

Up $545,099 (+21%) from 2021

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin87th percentile

Revenue

Up

$1,212,306

Up $131,204 (+12%) from 2021

Expenses

Down

$668,905

Down $332,798 (-33%) from 2021

Net Income

Up

$543,401

Up $464,002 (+584%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth85th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2011: $133,089Liabilities 2011: $0Net Assets 2011: $133,0892011Assets 2012: $182,393Liabilities 2012: $0Net Assets 2012: $182,3932012Assets 2013: $191,816Liabilities 2013: $3,180Net Assets 2013: $188,6362013Assets 2014: $281,617Liabilities 2014: $6,180Net Assets 2014: $275,4372014Assets 2015: $293,127Liabilities 2015: $42,630Net Assets 2015: $250,4972015Assets 2016: $176,127Liabilities 2016: $50,876Net Assets 2016: $125,2512016Assets 2017: $359,230Liabilities 2017: $21,649Net Assets 2017: $337,5812017Assets 2018: $397,119Liabilities 2018: $152,169Net Assets 2018: $244,9502018Assets 2019: $557,637Liabilities 2019: $173,354Net Assets 2019: $384,2832019Assets 2020: $484,386Liabilities 2020: $252,178Net Assets 2020: $232,2082020Assets 2021: $2,935,255Liabilities 2021: $2,634,784Net Assets 2021: $300,4712021Assets 2022: $4,023,756Liabilities 2022: $3,179,883Net Assets 2022: $843,8732022Assets 2023: $448,497Liabilities 2023: $295,177Net Assets 2023: $153,3202023Assets 2024: $775,322Liabilities 2024: $496,216Net Assets 2024: $279,1062024

Highlighted filing

2022

Assets$4,023,756
Liabilities$3,179,883
Net Assets$843,873
Open 2022 Filing

Operations Trend

Revenue Growth58th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MExpenses 2011: $202,4882011Expenses 2012: $291,3412012Revenue 2013: $377,980Expenses 2013: $371,738Net Income 2013: $6,2422013Revenue 2014: $599,657Expenses 2014: $512,856Net Income 2014: $86,8012014Revenue 2015: $538,493Expenses 2015: $563,433Net Income 2015: -$24,9402015Revenue 2016: $501,273Expenses 2016: $621,548Net Income 2016: -$120,2752016Revenue 2017: $789,583Expenses 2017: $577,253Net Income 2017: $212,3302017Revenue 2018: $645,575Expenses 2018: $738,206Net Income 2018: -$92,6312018Revenue 2019: $931,976Expenses 2019: $807,414Net Income 2019: $124,5622019Revenue 2020: $661,145Expenses 2020: $813,220Net Income 2020: -$152,0752020Revenue 2021: $1,081,102Expenses 2021: $1,001,703Net Income 2021: $79,3992021Revenue 2022: $1,212,306Expenses 2022: $668,905Net Income 2022: $543,4012022Revenue 2023: $836,223Expenses 2023: $1,500,758Net Income 2023: -$664,5352023Revenue 2024: $869,429Expenses 2024: $845,836Net Income 2024: $23,5932024

Highlighted filing

2022

Revenue$1,212,306
Expenses$668,905
Net Income$543,401
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 14, 2023
Return Version
2022v5.0
Gross Receipts
$1,212,306
Mission and Program Overview

Mission

Avondale Development Corporation (the Organization) was incorporated and commenced operations as a 501(c) (3) nonprofit organization in 2011 to serve the Avondale Community (the largest African American neighborhood in Cincinnati) to improve the quality of life of the neighborhood through real estate development and community engagement. The Organization's support comes primarily from donations from individuals, businesses, organizations, and government grants.

Avondale Development Corporation the Organization was incorporated and commenced operations as a 501c 3 nonprofit organization in 2011 to serve the Avondale Community the largest African American neighborhood in Cincinnati to improve the quality of life of the neighborhood through real estate development and community engagement. The Organization's support comes primarily from donations from individuals, businesses, organizations, and government grants.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,395,619$2,959,267▲ $563,648
Cash and Non-Interest-Bearing Accounts$210,547$807,857▲ $597,310
Pledges and Grants Receivable$128,325$97,893▼ $30,432
Savings and Temporary Cash Investments$37,806$25,091▼ $12,715
Prepaid Expenses and Deferred Charges$4,814$4,814→ $0
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$2,935,255$4,023,756▲ $1,088,501
Other Assets Total$158,144$128,834▼ $29,310
Liabilities
Grants Payable$1,474,488$1,474,488→ $0
Deferred Revenue$960,527$1,012,235▲ $51,708
Other Liabilities$99,970$597,656▲ $497,686
Accounts Payable and Accrued Expenses$99,799$95,504▼ $4,295
Total Liabilities$2,634,784$3,179,883▲ $545,099
Net Assets / Fund Balance
Net Assets With Donor Restrictions$112,221$784,389▲ $672,168
Net Assets Without Donor Restrictions$188,250$59,484▼ $128,766
Total Net Assets Fund Balance$300,471$843,873▲ $543,402
Total Liabilities and Net Assets / Fund Balance$2,935,255$4,023,756▲ $1,088,501

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,952,109-$2,952,109
Other Land Buildings$7,158$21,089$28,247
Compensation and Service Providers
Top Officer Pay73rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Russell HairstonExecutive DirectorFT$110,062$110,062
Patrick CartierManager Communications outreachFT$49,239$49,239
April GallelliProject Manager - Quality of LifeFT$44,231$44,231
Maria CollinsReal Estate Community DevelopmentFT$22,221$22,221

Board Members and Trustees

NameTitle
Royce SuttonChairman
Vincent 0 TerryVice President
Antoinette Selvey-MaddoxTrustee
Belinda Tubbs-WallaceTrustee
Brian GroemmingerTrustee
Dean Owen ThompsonTrustee
Henry BrownTrustee
Mark FisherTrustee
Morag AdlonTrustee
Rosemary OglesbyTrustee
Tamara LangTrustee
Tony MooreTrustee
Markiea CarterTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$176,715
Program Service Revenue
$1,035,591
Investment Income
$0
Other Revenue
$0
All Other Contributions
$56,075
Change in Net Assets
$543,401
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$397,720
Salaries, Compensation, and Employee Benefits$271,185
Total Fundraising Expense$502
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$178,360--$178,360
Current Officers, Directors, Trustees, and Key Employees-$54,665-$54,665
Fees for Services Accounting-$49,513-$49,513
Other Employee Benefits$29,208$8,952-$38,160
Fees for Services Management$36,530--$36,530
Office Expenses-$35,260$502$35,762
Occupancy-$24,818-$24,818
Other Expenses$13,769--$13,769
Information Technology-$11,670-$11,670
All Other Expenses$8,747--$8,747
Depreciation Depletion$3,565$652-$4,217
Fees for Services Legal-$2,793-$2,793
Travel-$2,372-$2,372
Insurance-$2,247-$2,247
Total Functional Expenses$475,461$192,942$502$668,905
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
City Cincy Loan$497,686
LISC Recoverable Grants$99,970
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The draft of form 990 is presented to the board for review and comments. If there are recommended changes or comments, the form is revised, returned to the finance committee and Board for final review and approval. If there are no additional comments or changes, the form is filed.”

Form 990, Part VI, Section B, Line 12C

“Annually, the policy is required to be reviewed, certified, signed. New members appointed are required to sign a copy. The onboarding process includes conflict of interest as part of the employee manual. The manual is then signed. and retained with the employee files.”

Form 990, Part VI, Section B, Line 15A

“The personnel committee reviews compensation for top management positions based on the market, the budget, and similar compensation offered by comparable organizations. The committee then makes recommendations to the board for approval.”

Form 990, Part VI, Section C, Line 18

“The form 990 can be accessed upon request, via public inspection at the business office.”

Form 990, Part VI, Section C, Line 19

“The govering body documents can be accessed upon request, via public inspection at the business office.”

Filing and Contact Details

Filer

Filer Name
Avondale Development Coroporation
EIN
45-2412695
Phone
5138612232
Address
3635 Reading Road 200, Cincinnati, OH 45229

Signing Officer

Name
Russell Hairston
Title
Executive Director
Signed
2023-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Russell Hairston
Formed
2011
Legal Domicile
Oh
Voting Board Members
13
Independent Board Members
13
Employees
5

Preparer

Firm
Richardson & Associates LLC
Address
429 Appaloosa Ct, Cincinnati, OH 45231
Preparer
Sherri Richardson
Phone
5134774842
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“rounding = $1”

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IRS990/Form990PartVIISectionAGrp/TitleTxt0Executive Dir.
IRS990/Form990PartVIISectionAGrp/TitleTxt1Manager Communications outreach
IRS990/Form990PartVIISectionAGrp/TitleTxt2Project Manager - Quality of Life
IRS990/Form990PartVIISectionAGrp/TitleTxt3Real Estate Community Development
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt7Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt9Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt10Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt11Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt12Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt13Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt14Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt15Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt16Vice President
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IRS990/MissionDesc0Avondale Development Corporation the Organization was incorporated and commenced operations as a 501c 3 nonprofit organization in 2011 to serve the Avondale Community the largest African American neighborhood in Cincinnati to improve the quality of life of the neighborhood through real estate development and community engagement. The Organization's support comes primarily from donations from individuals, businesses, organizations, and government grants.
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IRS990/OtherExpensesGrp/Desc1Special event
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IRS990/OtherExpensesGrp/ProgramServicesAmt230299
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IRS990/OtherSalariesAndWagesGrp/TotalAmt0178360
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IRS990/PensionPlanContributionsGrp/TotalAmt00
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt097893
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt04814
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt04814
IRS990/PrincipalOfficerNm0RUSSELL HAIRSTON
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1531390
IRS990/ProgramServiceRevenueGrp/Desc0Community Service
IRS990/ProgramServiceRevenueGrp/Desc1Real Estate Development
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt062500
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1973091
IRS990/ProgSrvcAccomActy2Grp/Desc0Real Estate Development To address the need for new housing units, the rehabilitation of existing housing units, and developing economic opportunities for residents, and minority and women-owned businesses.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0176172
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt03678831
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0728282
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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,023,756
Liabilities
$3,179,883
Net assets
$843,873
Revenue
$1,212,306
Expenses
$668,905
Net income
$543,401
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.78$0.50$0.28$0.87$0.85$0.02
2023Summary only. Only limited summary data is available for this year.$0.45$0.30$0.15$0.84$1.50$0.66
2022Detailed filing. Detailed filing data is available for this year.$4.02$3.18$0.84$1.21$0.67$0.54
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.94$2.63$0.30$1.08$1.00$0.08
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.48$0.25$0.23$0.66$0.81$0.15
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.56$0.17$0.38$0.93$0.81$0.12
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.40$0.15$0.24$0.65$0.74$0.09
2017Summary only. Only limited summary data is available for this year.$0.36$0.02$0.34$0.79$0.58$0.21
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.18$0.05$0.13$0.50$0.62$0.12
2015Detailed filing. Detailed filing data is available for this year.$0.29$0.04$0.25$0.54$0.56$0.02
2014Summary only. Only limited summary data is available for this year.$0.28$0.01$0.28$0.60$0.51$0.09
2013Detailed filing. Detailed filing data is available for this year.$0.19$0.00$0.19$0.38$0.37$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.18$0.00$0.18$0.29
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.13$0.00$0.13$0.20
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2022 filings • 501(c)3 • $1M-$5M nonprofits