Civic Intelligence

Avondale Comprehensive Development Corporation

990 • Fiscal year 2023 • EIN 45-2412695

Jan 01, 2023 to Dec 31, 2023 • Filed on Feb 02, 2025

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

0.81x

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

89th percentile

1.14x

Higher debt load relative to revenue than 89% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

5th percentile

-66%

Higher net margin than 5% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

76th percentile

$122,226

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 13.5% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

1st percentile

-68%

Faster asset growth than 1% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

14th percentile

-25%

Faster revenue growth than 14% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$1,280,591

Up $832,094 (+186%) from 2023

Net Assets

Up

$249,446

Up $96,126 (+63%) from 2023

Liabilities

Up

$1,031,145

Up $735,968 (+249%) from 2023

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin5th percentile

Revenue

Up

$906,019

Up $69,796 (+8.3%) from 2023

Expenses

Down

$1,500,446

Down $312 (-0.0%) from 2023

Net Income

Up

-$594,427

Up $70,108 (+11%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth1st 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: $1,280,591Liabilities 2023: $1,031,145Net Assets 2023: $249,4462023Assets 2023: $448,497Liabilities 2023: $295,177Net Assets 2023: $153,3202023Assets 2024: $775,322Liabilities 2024: $496,216Net Assets 2024: $279,1062024

Highlighted filing

2023

Assets$1,280,591
Liabilities$1,031,145
Net Assets$249,446
Open 2023 Filing

Operations Trend

Revenue Growth14th 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: $906,019Expenses 2023: $1,500,446Net Income 2023: -$594,4272023Revenue 2023: $836,223Expenses 2023: $1,500,758Net Income 2023: -$664,5352023Revenue 2024: $869,429Expenses 2024: $845,836Net Income 2024: $23,5932024

Highlighted filing

2023

Revenue$906,019
Expenses$1,500,446
Net Income-$594,427
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Feb 2, 2025
Return Version
2023v6.0
Gross Receipts
$906,019
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$3,088,101$864,523▼ $2,223,578
Cash and Non-Interest-Bearing Accounts$807,857$248,332▼ $559,525
Pledges and Grants Receivable$97,893$142,321▲ $44,428
Savings and Temporary Cash Investments$25,091$20,007▼ $5,084
Prepaid Expenses and Deferred Charges$4,814$5,408▲ $594
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$4,023,756$1,280,591▼ $2,743,165
Other Assets Total-$0-
Liabilities
Other Liabilities$597,656$737,812▲ $140,156
Accounts Payable and Accrued Expenses$95,504$129,665▲ $34,161
Deferred Revenue$1,012,235$103,529▼ $908,706
Grants Payable$1,474,488$60,139▼ $1,414,349
Total Liabilities$3,179,883$1,031,145▼ $2,148,738
Net Assets / Fund Balance
Net Assets With Donor Restrictions$784,389$132,990▼ $651,399
Net Assets Without Donor Restrictions$59,484$116,456▲ $56,972
Total Net Assets Fund Balance$843,873$249,446▼ $594,427
Total Liabilities and Net Assets / Fund Balance$4,023,756$1,280,591▼ $2,743,165

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$807,659-$666,361
Other Land Buildings$56,864$25,305$28,247
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Russell HairstonExecutive DirectorFT$122,226$122,226
Derek McCainManager Communications outreachFT$109,280$109,280
Patrick CartierTrusteeFT$76,532$76,532

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$1,492,995
Program Service Revenue
$184,532
Investment Income
$0
Other Revenue
$-771,508
All Other Contributions
$1,468,761
Change in Net Assets
$-594,427
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,065,508
Salaries, Compensation, and Employee Benefits$434,938
Total Fundraising Expense$59,713
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$276,086-$36,626$312,712
Current Officers, Directors, Trustees, and Key Employees$60,094$62,132-$122,226
Fees for Services Other$59,305$2,732$2,206$64,243
Fees for Services Accounting$34,410$24,428$4,290$63,128
Occupancy-$24,000-$24,000
All Other Expenses$22,317--$22,317
Other Expenses$4,961-$16,591$21,552
Information Technology-$16,267-$16,267
Office Expenses-$14,162-$14,162
Depreciation Depletion-$4,217-$4,217
Travel$4,130--$4,130
Fees for Services Legal$3,304$661-$3,965
Insurance-$2,283-$2,283
Fees for Services Management-$91-$91
Total Functional Expenses$1,289,760$150,973$59,713$1,500,446
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 Cincinnati Loan$637,841
LISC Recoverable Grants$99,970
Rounding$1
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
Yes
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. The auditor request the board members to sign a separate detailed conflict of interest including a related party questionnaire.”

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 B, Line 15B

“Our Director and CFO review the budget, and key employee compensation and employment reviews to determine annual salaries and/or bonuses. In addition, they consider comparable salaries of other similar organizations. The Board reviews and approves the results.”

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
2025-02-02
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 XII, Line 2C

“The organization is forming an oversight of the audit next year.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt0Executive Dir.
IRS990/Form990PartVIISectionAGrp/TitleTxt1Manager Communications outreach
IRS990/Form990PartVIISectionAGrp/TitleTxt2Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt3Trustee
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/TitleTxt12Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt13Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt14Vice President
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IRS990/MinutesOfCommitteesInd0false
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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/OccupancyGrp/TotalAmt024000
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IRS990/OfficeExpensesGrp/TotalAmt014162
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
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IRS990/OtherAssetsTotalGrp/EOYAmt00
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IRS990/OtherExpensesGrp/Desc1Community Engagement Cost
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IRS990/OtherExpensesGrp/ProgramServicesAmt230359
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IRS990/OtherExpensesGrp/TotalAmt1158454
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IRS990/OtherInd0X
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IRS990/OtherLiabilitiesGrp/EOYAmt0737812
IRS990/OtherRevenueMiscGrp/BusinessCd0230000
IRS990/OtherRevenueMiscGrp/Desc0Building low income Housing
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0-771508
IRS990/OtherRevenueTotalAmt0-771508
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt036626
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0276086
IRS990/OtherSalariesAndWagesGrp/TotalAmt0312712
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt04814
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt05408
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/TotalRevenueColumnAmt0184532
IRS990/ProgSrvcAccomActy2Grp/Desc0Community Engagement To develop effective methods of outreach and communication with Avondale residents in a way that invites them to be part of redevelopment initiatives by using various forms of messaging to connect and engage with owners, renters and businesses, using community engagement sessions, print and electronic forms of communication.
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IRS990/PYRevenuesLessExpensesAmt0543401
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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,280,591
Liabilities
$1,031,145
Net assets
$249,446
Revenue
$906,019
Expenses
$1,500,446
Net income
-$594,427
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
2023Detailed filing. Detailed filing data is available for this year.$1.28$1.03$0.25$0.91$1.50$0.59
2023Summary only. Only limited summary data is available for this year.$0.45$0.30$0.15$0.84$1.50$0.66
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$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