Civic Intelligence

Cleveland Development Advisors Community Reinvestment Fund Inc.

990 • Fiscal year 2017 • EIN 46-1051875

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 13, 2018

1240 Huron Road No 300Cleveland, OH 44115

(216) 592-2274

Siviq Scores

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

Liabilities / Assets

47th percentile

0.14x

Higher debt load relative to assets than 47% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

72nd percentile

0.53x

Higher debt load relative to revenue than 72% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

78th percentile

20%

Higher net margin than 78% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

20th percentile

$0

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

98th percentile

188%

Faster asset growth than 98% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

14th percentile

-16%

Faster revenue growth than 14% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Assets

Up

$8,540,052

Up $5,573,989 (+188%) from 2016

Net Assets

Up

$7,386,580

Up $4,589,297 (+164%) from 2016

Liabilities

Up

$1,153,472

Up $984,692 (+583%) from 2016

Revenue

Down

$2,196,775

Down $418,989 (-16%) from 2016

Expenses

Up

$1,753,464

Up $384,259 (+28%) from 2016

Net Income

Down

$443,311

Down $803,248 (-64%) from 2016

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2013: $621,520Liabilities 2013: $234,532Net Assets 2013: $386,9882013Assets 2014: $1,210,963Liabilities 2014: $167,333Net Assets 2014: $1,043,6302014Assets 2016: $2,966,063Liabilities 2016: $168,780Net Assets 2016: $2,797,2832016Assets 2017: $8,540,052Liabilities 2017: $1,153,472Net Assets 2017: $7,386,5802017Assets 2018: $11,186,566Liabilities 2018: $1,234,933Net Assets 2018: $9,951,6332018Assets 2019: $20,130,748Liabilities 2019: $4,372,135Net Assets 2019: $15,758,6132019Assets 2022: $34,461,878Liabilities 2022: $15,861,073Net Assets 2022: $18,600,8052022Assets 2024: $49,300,009Liabilities 2024: $21,656,023Net Assets 2024: $27,643,9862024

Highlighted filing

2017

Assets$8,540,052
Liabilities$1,153,472
Net Assets$7,386,580

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0Revenue 2013: $1,282,825Expenses 2013: $885,311Net Income 2013: $397,5142013Revenue 2014: $1,894,991Expenses 2014: $1,238,349Net Income 2014: $656,6422014Revenue 2016: $2,615,764Expenses 2016: $1,369,205Net Income 2016: $1,246,5592016Revenue 2017: $2,196,775Expenses 2017: $1,753,464Net Income 2017: $443,3112017Revenue 2018: $4,283,906Expenses 2018: $1,868,736Net Income 2018: $2,415,1702018Revenue 2019: $7,935,330Expenses 2019: $2,530,679Net Income 2019: $5,404,6512019Revenue 2022: $4,293,488Expenses 2022: $3,498,546Net Income 2022: $794,9422022Revenue 2024: $7,407,552Expenses 2024: $3,946,138Net Income 2024: $3,461,4142024

Highlighted filing

2017

Revenue$2,196,775
Expenses$1,753,464
Net Income$443,311
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 13, 2018
Return Version
2017v2.3
Gross Receipts
$2,196,775
Mission and Program Overview

Mission

To build inclusive and thriving neighborhoods in Northeast Ohio by providing innovative financing solutions and technical assistance to catalytic real estate and business development projects. In carrying out this mission, CDA-CRF shall be operated exclusively for religious, charitable, scientific, literary or educational purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended.

To promote community development and revitalization by providing innovative financing solutions and support to catalytic real estate and business development projects that revitalize underserved communities and build inclusive and thriving neighborhoods of greater cleveland.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,384,848$4,203,955▲ $2,819,107
Other Notes and Loans Receivable, Net$0$2,744,295▲ $2,744,295
Investments Program Related$1,287,609$1,404,817▲ $117,208
Accounts Receivable$231,888$125,195▼ $106,693
Cash and Non-Interest-Bearing Accounts$52,707$58,991▲ $6,284
Prepaid Expenses and Deferred Charges$1,486$1,724▲ $238
Intangible Assets$7,525$1,075▼ $6,450
Total Assets$2,966,063$8,540,052▲ $5,573,989
Liabilities
Unsecured Notes Loans Payable$0$1,000,000▲ $1,000,000
Accounts Payable and Accrued Expenses$168,780$153,472▼ $15,308
Total Liabilities$168,780$1,153,472▲ $984,692
Net Assets / Fund Balance
Unrestricted Net Assets$2,797,283$7,386,580▲ $4,589,297
Total Net Assets Fund Balance$2,797,283$7,386,580▲ $4,589,297
Total Liabilities and Net Assets / Fund Balance$2,966,063$8,540,052▲ $5,573,989

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$100--
Compensation and Service Providers

Board Members and Trustees

NameTitle
ROBERT O'BRIENChairman
Yvette M IttuPresident
Joseph D RomanSecond Vice Chairman
Paul ClarkVice Chairman
Alan ZangDirector
Bob EckardtDirector
Brian M PowerDirector
David JenkinsDirector
Edward RybkaDirector
Jeffrey WildDirector
Jerry KelsheimerDirector
Kip ClarkeDirector
Quentin L Mccorvey SrDirector
Renee CsuhranDirector
Vickie Eaton JohnsonDirector
James GuetherDirector Through 5/24/17
Margaret S CallesenAssistant Secretary
Robert D LabesSecretary as of 3/29/17
Cipriano S Beredo IiiSecretary Through 3/29/17
Debra JanikTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Greater Cleveland PartnershipManagement Company Services& Accounting1240 HURON ROAD, Cleveland, OH 44115$1,240,637
Revenue and Support

Revenue Composition

Contributions and Grants
$4,250
Program Service Revenue
$2,175,386
Investment Income
$17,090
Other Revenue
$49
All Other Contributions
$4,250
Change in Net Assets
$443,311
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,753,464
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$1,123,220$17,417-$1,140,637
Fees for Services Accounting$98,512$10,938-$109,450
Fees for Services Other$75,399$5,374-$80,773
Fees for Services Legal$66,690$3,245-$69,935
Insurance$49,420$623-$50,043
Advertising$24,591$521-$25,112
Travel$7,738$4-$7,742
Depreciation Depletion$6,354$96-$6,450
Other Expenses$5,335$80-$5,415
Conferences and Meetings$4,588$6-$4,594
Information Technology$4,368$60-$4,428
All Other Expenses$2,931$44-$2,975
Office Expenses$1,461$1,213-$2,674
Interest$2,215--$2,215
Total Functional Expenses$1,713,837$39,627$0$1,753,464
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
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 family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The organization has entered into a management agreement with the greater cleveland partnership (gcp) to provide professional staffing, office space, back office services, and it services for the day to day operating needs of the organization. The following officers were employees of gcp and therefore were compensated by gcp as employees during 2017: - yvette m. Ittu, president. Ms. Ittu received $32,686 of reportable compensation and $7,858 of other compensation from gcp for services provided to the organization. - joseph d. Roman, second vice chairman. Mr. Roman receives compensation as an employee of gcp, but serves on the board of the organization in the same capacity as all other volunteer board members. - debra janik, treasurer. Ms. Janik receives compensation as an employee of gcp, but serves on the board of the organization in the same capacity as all other volunteer board members.

Form 990, Part VI, Section A, Line 6

The organization's sole member is cleveland development advisors, inc. (cda). The cda board members and officers serve as the directors and officers of the organization.

Form 990, Part VI, Section A, Line 7A

The organization's sole member is cleveland development advisors, inc. (cda). The cda board members and officers serve as the directors and officers of the organization.

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

Staff, in conjunction with tax preparers, compiles the information needed to complete the form 990. Upon completion, management conducts a detailed review of the return and makes final adjustments, if necessary. The returns are provided to the audit committee for detailed review and comment. The final version of the form 990 is provided electronically and/or by hard copy to each board member for review prior to submission with the irs.

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

The board of directors and staff of the organization are expected to maintain the highest ethical standards in conducting the business of the organization. The board and staff conflict of interest policies are intended to provide clear guidance to ensure that the organization's business is conducted with integrity, and in compliance with all applicable laws, and in a manner that excludes considerations of personal advantage or gain. All board and staff members shall annually receive a reminder of their agreement to comply with the policy and sign a declaration indicating their acceptance. Any violation of the board policy will subject a board member to appropriate action, up to and including removal from the board. When questions arise concerning any aspect of this policy, board members are encouraged to contact the board chair. Violations of this policy should be reported to the board chair or the confidential and independent 24-hour helpline provider, navex global. The members of the governance committee shall make a determination as to whether a conflict exists and what subsequent action, if any, is appropriate. The governance committee shall inform the board of such determination and action. The board shall retain the right to modify or reverse such determination and action, and shall retain the ultimate enforcement authority with respect to the interpretation and application of this policy. The president and/or designee shall make a determination regarding staff members as to whether a conflict exists and what subsequent action, if any, is appropriate. Any violation of the staff policy will subject the employee to discipline, up to and including immediate discharge. When questions arise concerning any aspect of this policy, or to report violations, employees should contact the human resources department or the confidential and independent 24-hour helpline provider.

Form 990, Part VI, Section B, Line 15

This organization does not pay compensation.

Form 990, Part VI, Section C, Line 19

No documents are made available to the public. The organization provides information upon request by the public.

Filing and Contact Details

Filer

Filer Name
Cleveland Development Advisors
EIN
46-1051875
Phone
2165922274
Address
1240 HURON ROAD NO 300, CLEVELAND, OH 44115

Signing Officer

Name
Yvette M Ittu
Title
President
Phone
2165922274
Signed
2018-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Yvette M Ittu
Formed
2012
Legal Domicile
Oh
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
20

Preparer

Firm
Rsm US Llp
Address
1001 LAKESIDE AVE SUITE 200, CLEVELAND, OH 44114-1152
Preparer
Karen O Crim
Phone
2165231900
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Net asset transfer 4,145,986.

Form 990, Part IX, Line 11

The expenses represent the expenses incurred by greater cleveland partnership ("gcp"), an ohio non-profit corporation that is a section 501(c)(6) organization. Cda-crf has contracted with gcp to assist it in providing management services for day to day operations including employees, facility space, it, computers, etc.

Financial Statement Notes

PART X, LINE 2:

Cda-crf adopted the accounting standard on accounting for uncertainty in income taxes, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, cda-crf may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on technical merits of the position. Examples of tax positions include the tax-exempt status of cda-crf and various positions related to the potential sources of unrelated business taxable income (ubit). The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater of 50 percent likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also addresses de-recognition, reclassification, interest and penalties on income taxes and accounting in interim periods. At december 31, 2017, cda-crf had no unrecognized tax benefits identified or recorded as liabilities.

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IRS990/ActivityOrMissionDesc0TO PROMOTE COMMUNITY DEVELOPMENT AND REVITALIZATION BY PROVIDING INNOVATIVE FINANCING SOLUTIONS AND SUPPORT TO CATALYTIC REAL ESTATE AND BUSINESS DEVELOPMENT PROJECTS THAT REVITALIZE UNDERSERVED COMMUNITIES AND BUILD INCLUSIVE AND THRIVING NEIGHBORHOODS OF GREATER CLEVELAND.
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IRS990/Desc0MANAGEMENT SERVICES: CLEVELAND DEVELOPMENT ADVISORS COMMUNITY REINVESTMENT FUND, INC. (CDA-CRF) PROVIDES MANAGEMENT SERVICES TO INTERNATIONAL REGIONAL CENTER, LLC (IRC) AND CLEVELAND DEVELOPMENT ADVISORS, INC. (CDA), AN AFFILIATE OF THE ORGANIZATION. CDA IS A REAL ESTATE AND BUSINESS DEVELOPMENT FINANCE ORGANIZATION THAT INVESTS PRIVATELY-FUNDED CAPITAL AND NEW MARKETS TAX CREDIT (NMTC) ALLOCATIONS INTO CATALYTIC PROJECTS DESIGNED TO ADVANCE ECONOMIC AND COMMUNITY DEVELOPMENT PROJECTS THROUGHOUT CLEVELAND. CDA'S INVESTMENT FUNDS INCLUDE I) CLEVELAND DEVELOPMENT PARTNERSHIP II LP (CDP II), II) ADVANCE CLEVELAND DEVELOPMENT FUND, LLC (ACDF), AND III) CLEVELAND NEW MARKETS INVESTMENT FUND II, LLC (CNMIF II) (COLLECTIVELY, CDA'S INVESTMENT FUNDS). CDP II AND ACDF PROVIDE A SOURCE OF PRIVATE SECTOR FINANCING FOR DEVELOPERS, OWNERS, AND OPERATORS OF SIGNIFICANT REAL ESTATE PROJECTS IN CLEVELAND, OHIO AND CUYAHOGA COUNTY, OHIO, IN ORDER TO PROMOTE DEVELOPMENT AND ADVANCE COMMUNITY PRIORITIES. CNMIF II IS A COMMUNITY DEVELOPMENT ENTITY (CDE) CERTIFIED BY THE U.S. TREASURY'S COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND (CDFI FUND) THAT HAS RECEIVED A TOTAL OF $200 MILLION (TO DATE) IN NMTC ALLOCATIONS SINCE 2007. CNMIF II PROVIDES INVESTMENT CAPITAL FOR LOW-INCOME COMMUNITIES AND LOW-INCOME PERSONS CONSISTENT WITH THE NMTC PROGRAM AND CDA'S PRIORITIES. IN 2017, CDA'S INVESTMENT FUNDS INVESTED $18.5 MILLION OF DIRECT FINANCING AND $38 MILLION OF NEW MARKETS TAX CREDIT ALLOCATIONS INTO 10 PROJECTS IN GREATER CLEVELAND THAT HAVE RESULTED IN 562 HOUSING UNITS AND OVER 300,000 SQUARE FEET OF COMMERCIAL SPACE. THESE PROJECTS GENERATED OVER $445 MILLION OF TOTAL DEVELOPMENT. A FEW HIGHLIGHTS FROM THE PROJECTS INCLUDE:UH RAINBOW CENTER FOR WOMEN & CHILDREN: UNIVERSITY HOSPITALS CLOSED ON FINANCING FOR ITS $21 MILLION, 40,000-SQUARE-FOOT UH RAINBOW CENTER FOR WOMEN & CHILDREN IN MIDTOWN. CNMIF II PROVIDED $10 MILLION OF FEDERAL NMTC ALLOCATIONS AND $2.5 MILLION OF OHIO NMTC ALLOCATIONS, ALONG WITH ADDITIONAL FEDERAL NMTC ALLOCATIONS FROM ANOTHER LOCAL CDE. THE NEW FACILITY OF UH RAINBOW BABIES & CHILDREN'S HOSPITAL AND UH MACDONALD WOMEN'S HOSPITAL WILL SERVE A FEDERALLY-DESIGNATED MEDICAL/DENTAL UNDERSERVED AREA. CHARTER STEEL: CHARTER STEEL CLOSED ON FINANCING FOR ITS $153-MILLION EXPANSION PROJECT IN CUYAHOGA HEIGHTS. CNMIF II PROVIDED $10 MILLION OF NMTC ALLOCATIONS, PARTNERED WITH ADDITIONAL FEDERAL NMTC ALLOCATIONS FROM THREE OTHER CDES. CHARTER STEEL, A DIVISION OF CHARTER MANUFACTURING, WILL EXPAND ITS WIRE ROD PRODUCTION FACILITY, HELPING THE COMPANY TO STAY COMPETITIVE IN THE U.S. STEEL INDUSTRY. INNOVA PHASE II: THE FINCH GROUP CLOSED ON FINANCING FOR THE SECOND PHASE OF THE INNOVA PROJECT ON CHESTER AVENUE IN THE HOUGH NEIGHBORHOOD. CDA PROVIDED A $1.5-MILLION LOAN FROM ACDF. THE $26-MILLION INVESTMENT WILL ADD 70 APARTMENT UNITS AND 7,700 SQUARE FEET OF RETAIL. THE INITIAL PHASE, 177 APARTMENT UNITS AND 23,000 SQUARE FEET OF RETAIL, WAS COMPLETED IN 2015. CDA PROVIDED $3 MILLION OF FINANCING FOR THE FIRST PHASE.UNITED BANK BUILDING: ACDF CLOSED ON A $2.65-MILLION LOAN TO ADD APARTMENT UNITS TO A SIGNIFICANT OHIO CITY CORNER. MRN LTD., THE MARON FAMILY'S DEVELOPMENT COMPANY, WILL CONVERT TWO FLOORS OF OFFICE SPACE IN THE UNITED BANK BUILDING AT THE CORNER OF WEST 25TH AND LORAIN TO 25 APARTMENT UNITS. THE NEW STUDIO AND ONE-BEDROOM UNITS WILL BE AVAILABLE IN EARLY 2019.DAVE'S MIDTOWN: CNMIF II PROVIDED A $10-MILLION NMTC ALLOCATION FOR THE NEW CONSTRUCTION OF DAVE'S SUPERMARKET AT EAST 59TH AND EUCLID IN THE MIDTOWN NEIGHBORHOOD, WHICH IS PART OF THE LINK59 PROJECT. THE PROJECT ALSO ATTRACTED FEDERAL NMTC ALLOCATIONS FROM TWO OTHER CDES. THE NEW LOCATION OF THE LOCALLY-OWNED SUPERMARKET CHAIN WILL PROVIDE HEALTHY FOOD ACCESS TO NEIGHBORHOODS ON THE EAST SIDE OF CLEVELAND. THE GROCERY STORE, LOCATED ADJACENT TO THE UH RAINBOW CENTER FOR WOMEN & CHILDREN, IS COLLABORATING WITH THE HEALTH CENTER TO INCLUDE AN ON-SITE TEACHING KITC
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IRS990/Form990PartVIISectionAGrp/OfficerInd7X
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt130
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt140
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt150
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt160
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt170
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt180
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt190
IRS990/Form990PartVIISectionAGrp/PersonNm0ROBERT O'BRIEN
IRS990/Form990PartVIISectionAGrp/PersonNm1PAUL CLARK
IRS990/Form990PartVIISectionAGrp/PersonNm2RENEE CSUHRAN
IRS990/Form990PartVIISectionAGrp/PersonNm3BOB ECKARDT
IRS990/Form990PartVIISectionAGrp/PersonNm4JAMES GUETHER
IRS990/Form990PartVIISectionAGrp/PersonNm5JERRY KELSHEIMER
IRS990/Form990PartVIISectionAGrp/PersonNm6QUENTIN L MCCORVEY SR
IRS990/Form990PartVIISectionAGrp/PersonNm7BRIAN M POWER
IRS990/Form990PartVIISectionAGrp/PersonNm8VICKIE EATON JOHNSON
IRS990/Form990PartVIISectionAGrp/PersonNm9KIP CLARKE
IRS990/Form990PartVIISectionAGrp/PersonNm10EDWARD RYBKA
IRS990/Form990PartVIISectionAGrp/PersonNm11JEFFREY WILD
IRS990/Form990PartVIISectionAGrp/PersonNm12ALAN ZANG
IRS990/Form990PartVIISectionAGrp/PersonNm13DAVID JENKINS
IRS990/Form990PartVIISectionAGrp/PersonNm14YVETTE M ITTU
IRS990/Form990PartVIISectionAGrp/PersonNm15JOSEPH D ROMAN
IRS990/Form990PartVIISectionAGrp/PersonNm16DEBRA JANIK
IRS990/Form990PartVIISectionAGrp/PersonNm17CIPRIANO S BEREDO III
IRS990/Form990PartVIISectionAGrp/PersonNm18ROBERT D LABES
IRS990/Form990PartVIISectionAGrp/PersonNm19MARGARET S CALLESEN
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt190
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt190
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR THROUGH 5/24/17
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt15SECOND VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt16TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt17SECRETARY THROUGH 3/29/17
IRS990/Form990PartVIISectionAGrp/TitleTxt18SECRETARY AS OF 3/29/17
IRS990/Form990PartVIISectionAGrp/TitleTxt19ASSISTANT SECRETARY
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IRS990/FormationYr02012
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IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
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IRS990/MiscellaneousRevenueGrp/ExclusionAmt049
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IRS990/MissionDesc0TO ASSIST IN THE REVITALIZATION OF LOW-INCOME COMMUNITIES THROUGH THE SUPPORT AND FACILITATION OF REAL ESTATE DEVELOPMENT PROJECTS IN NORTHEAST OHIO, INCLUDING PROJECTS IN THE CITY OF CLEVELAND AND CUYAHOGA COUNTY THAT CANNOT BE UNDERTAKEN ON THEIR OWN. THESE PROJECTS ARE INTENDED TO ACCELERATE ECONOMIC DEVELOPMENT IN NORTHEAST OHIO. IN CARRYING OUT THIS MISSION, CDA-CRF SHALL BE OPERATED EXCLUSIVELY FOR RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.
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IRS990/MoreThan5000KToOrgInd00
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IRS990/NetAssetsOrFundBalancesEOYAmt07386580
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NoncashContributionsAmt0100
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01213
IRS990/OfficeExpensesGrp/ProgramServicesAmt01461
IRS990/OfficeExpensesGrp/TotalAmt02674
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt04145986
IRS990/OtherExpensesGrp/Desc0PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc1MEMBERSHIPS
IRS990/OtherExpensesGrp/Desc2SPONSORSHIPS
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IRS990/OtherExpensesGrp/ProgramServicesAmt114444
IRS990/OtherExpensesGrp/ProgramServicesAmt25335
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IRS990/OtherExpensesGrp/TotalAmt114450
IRS990/OtherExpensesGrp/TotalAmt25415
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IRS990/ProgramServiceRevenueGrp/BusinessCd0523920
IRS990/ProgramServiceRevenueGrp/BusinessCd1523999
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IRS990/ProgramServiceRevenueGrp/Desc0MANAGEMENT SERVICES
IRS990/ProgramServiceRevenueGrp/Desc1EQUITY INVSTMTS/GRANTS
IRS990/ProgramServiceRevenueGrp/Desc2SERVICING
IRS990/ProgramServiceRevenueGrp/Desc3INTEREST INCOME-LOANS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01852410
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1162108
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2150000
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt310868
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2150000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt310868
IRS990/ProgSrvcAccomActy2Grp/Desc0LOANS: CDA-CRF IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI), CERTIFIED BY THE CDFI FUND, WITH A FOCUS ON THE MOST DISTRESSED NEIGHBORHOODS IN THE CITY OF CLEVELAND AND SURROUNDING INNER-RING NEIGHBORHOODS, BUT CDA-CRF CAN SERVE CUYAHOGA COUNTY AND ITS SURROUNDING COUNTIES. CDA-CRF'S FOCUS AS A GROWING CDFI IS TO PROVIDE HIGH-IMPACT LOANS THAT CAN ASSIST IN THE REVITALIZATION OF LOW-INCOME COMMUNITIES THROUGH THE SUPPORT AND FACILITATION OF REAL ESTATE AND BUSINESS DEVELOPMENT PROJECTS. MORE SPECIFICALLY, THESE EFFORTS TRACK PROJECTS FROM ACQUISITION AND PREDEVELOPMENT, THROUGH CONSTRUCTION, AND IN SUPPORT OF THE BUSINESSES THAT LEASE SPACE IN REAL ESTATE DEVELOPMENT PROJECTS. DURING 2017, THE ORGANIZATION BEGAN LENDING ACTIVITY UTILIZING ITS CASH RESOURCES GENERATED FROM SUCCESSFULLY MANAGING CDA INVESTMENT FUNDS AND LEVERAGING THOSE FUNDS TO CREATE GREATER IMPACT. AS A NEWLY-CERTIFIED CDFI, CDA-CRF IS REFINING ITS LENDING PRIORITIES TO MATCH GAPS IN THE GREATER CLEVELAND LENDING LANDSCAPE TO CREATE SUSTAINABLE LOAN PRODUCTS WITH THE ABILITY TO ADVANCE CLEVELAND BY SUPPORTING NEIGHBORHOOD REDEVELOPMENT AND SMALL BUSINESS GROWTH THROUGH COLLABORATION AND INCLUSIVITY. THE FOCUS OF THE ORGANIZATION'S LENDING ACTIVITY IS ON THREE MAIN AREAS: I) REAL ESTATE DEVELOPMENT; II) ACQUISITION AND PREDEVELOPMENT, AND III) SMALL BUSINESS LOANS FOCUSING ON REAL-ESTATE LIKE FINANCING FOR TENANT IMPROVEMENTS AND FURNITURE, FIXTURES, AND EQUIPMENT. THE HIGHLIGHTS OF THE PROJECTS FINANCED INCLUDE:SHOREWAY COMMERCE PARK: THE ORGANIZATION WAS ABLE TO PROVIDE MUCH NEEDED FINANCING OF $155,875 TO SHOREWAY COMMERCE PARK, A REVITALIZED $19 MILLION LOGISTICS AND DISTRIBUTION CENTER IN THE ST. CLAIR-SUPERIOR NEIGHBORHOOD. THE PROJECT UTILIZED NMTC FINANCING FROM CNMIF II TO COMPLETE THE PROJECT, AND AT THE TIME OF UNWIND, NEEDED GAP FINANCING TO ASSIST IN EXPENSES RELATED TO UNWIND.THE CHILDREN'S MUSEUM OF CLEVELAND: CNMIF II PROVIDED $8 MILLION OF NMTC ALLOCATION AND LEVERAGED $100,000 WITH CDA-CRF TO PROVIDE A NECESSARY BRIDGE LOAN FOR THE REHABILITATION OF THE STAGER BECKWITH HISTORIC MANSION IN MIDTOWN TO RELOCATE THE CHILDREN'S MUSEUM OF CLEVELAND. THE NEW FACILITY ALLOWS FOR AN OUTDOOR PLAY AREA, EARLY CHILDHOOD AND CULTURAL EDUCATION WINGS, AND AMPLE PARKING FOR THE 100,000-PLUS CHILDREN AND FAMILIES EXPECTED TO BE SERVED ANNUALLY.THE LINCOLN: CDA-CRF PROVIDED $840,000 FOR THE ACQUISITION OF PROPERTY FOR USE IN PHASE II OF A MIXED-INCOME RENTAL BUILDING IN THE TREMONT NEIGHBORHOOD. CNMIF II PROVIDED $5 MILLION IN NMTC FINANCING AND CDP II PROVIDED A $1.25-MILLION LEVERAGE LOAN TO PHASE I OF THE PROJECT IN 2013.GLOBAL CLEVELAND: CDA-CRF WAS ABLE TO PROVIDE A MUCH NEEDED AND FLEXIBLE LOAN OF $83,590 TO GLOBAL CLEVELAND RELATED TO THE TENANT IMPROVEMENTS OF THEIR OFFICE NEAR PUBLIC SQUARE. GLOBAL CLEVELAND IS A NON-PROFIT ORGANIZATION THAT ATTRACTS, WELCOMES, AND CONNECTS INTERNATIONAL NEWCOMERS TO ECONOMIC AND SOCIAL OPPORTUNITIES IN CLEVELAND AND CUYAHOGA COUNTY.DAVE'S MIDTOWN: CDA WAS ABLE TO LEVERAGE ITS OWN RESOURCES TO PROVIDE FINANCING FOR THE CONSTRUCTION OF DAVE'S SUPERMARKET IN MIDTOWN NEIGHBORHOOD, LOCATED IN A FOOD DESERT. CNMIF II PROVIDED $10 MILLION IN NMTC FINANCING, AND CDA-CRF WAS ABLE TO PROVIDE A $2 MILLION LOAN TO THE GROCERY STORE PROJECT.VILLAGE CAPITAL CORPORATION: THE FIRST LOAN MADE BY THE ORGANIZATION INCLUDES A $1,000,000 LINE OF CREDIT TO VILLAGE CAPITAL CORPORATION, A LOCAL CDFI AND NON-PROFIT SPECIALIZING IN LOW-INCOME, MIXED-INCOME, AND MIXED-USE DEVELOPMENT PROJECTS IN VITAL CLEVELAND NEIGHBORHOODS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0299088
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt010868
IRS990/ProgSrvcAccomActy3Grp/Desc0EQUITY INVESTMENTS & GRANTS: CDA-CRF ASSISTS IN THE REVITALIZATION OF LOW-INCOME COMMUNITIES THROUGH THE SUPPORT AND FACILITATION OF REAL ESTATE AND BUSINESS DEVELOPMENT PROJECTS IN NORTHEAST OHIO. SPECIFICALLY, CDA-CRF HAS EQUITY INVESTMENT IN REAL ESTATE FINANCING ORGANIZATIONS THAT PROMOTE COMMUNITY DEVELOPMENT IN THESE COMMUNITIES. CDA-CRF ALSO WILL UTILIZE AND LEVERAGE RESOURCES TO PROVIDE GRANTS TO THOSE ORGANIZATIONS THAT SUPPORT COMMUNITY DEVELOPMENT IN THE LOW-INCOME COMMUNITIES. WHILE CDA-CRF HAS NOT AWARDED ANY GRANTS SINCE 2014, IT PLANS TO AWARD GRANTS IN THE FUTURE. THE ORGANIZATION WORKS CLOSELY WITH THE OFFICIALS OF THE GREATER CLEVELAND PARTNERSHIP (GCP), AN OHIO NON-PROFIT CORPORATION THAT IS A 501(C)(6), AND ITS SUBSIDIARIES TO IDENTIFY DEVELOPMENT PROJECTS THAT WILL HAVE A TRANSFORMATIVE IMPACT ON THE CITY OF CLEVELAND AND CUYAHOGA COUNTY.CDA-CRF IS A 20% MEMBER IN IRC, WHICH OWNS CLEVELAND INTERNATIONAL FUND, LTD. (CIF), AN APPROVED EB-5 REGIONAL CENTER LOCATED IN CLEVELAND, OHIO. IN ACCORDANCE WITH THE EB-5 IMMIGRANT PILOT PROGRAM, CIF PROVIDES AN ALTERNATIVE SOURCE OF CAPITAL FOR REAL ESTATE PROJECTS THAT CREATE A MINIMUM NUMBER OF JOBS. AS OF DECEMBER 31, 2017, CIF HAD CLOSED ON LOAN COMMITMENTS TOTALING $271.5 MILLION INTO 10 PROJECTS IN CLEVELAND AND CUYAHOGA COUNTY WHICH CREATED 13,700 JOBS.CDA-CRF IS THE 99.9% MANAGING MEMBER OF CNMIF II, A CERTIFIED CDE UNDER THE NMTC PROGRAM INVESTING IN LOW-INCOME COMMUNITIES AND LOW-INCOME PERSONS. AS OF DECEMBER 31, 2017, CNMIF II HAD CLOSED ON $178 MILLION OF NMTC ALLOCATIONS INTO 25 PROJECTS TOTALING OVER $766 MILLION IN DEVELOPMENT COSTS. THESE PROJECTS HAVE PROVIDED REHABILITATION AND CONSTRUCTION OF OVER 2.7 MILLION SQUARE FEET OF COMMERCIAL SPACE AND 715 HOUSING UNITS WITH 26% OF THOSE UNITS QUALIFYING AS AFFORDABLE UNDER THE NMTC PROGRAM, CREATING OVER 4,000 CONSTRUCTION JOBS AND 3,200 PERMANENT JOBS.CDA-CRF IS A 1.7% LIMITED PARTNER IN CDP II, WHICH, AS OF DECEMBER 31, 2017, HAS PROVIDED OVER $134.5 MILLION IN FINANCING INTO 89 PROJECTS TOTALING OVER $2 BILLION IN DEVELOPMENT COSTS. THE FINANCING OF THESE PROJECTS HAS PROVIDED CONSTRUCTION AND REHABILITATION OF OVER 3.2 MILLION SQUARE FEET OF COMMERCIAL SPACE AND NEARLY 3,100 HOUSING UNITS, CREATING OVER 1,800 PERMANENT JOBS AND 2,300 CONSTRUCTION JOBS.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt015435
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt0162108
IRS990/ProgSrvcAccomActyOtherGrp/Desc0SERVICING: CDA-CRF PROVIDED SERVICING FUNCTIONS AND COMPLIANCE FOR KEY COMMUNITY DEVELOPMENT NEW MARKETS, LLC, A CLEVELAND-BASED CDE THAT UTILIZES NMTC ALLOCATIONS. CDA-CRF SERVICES THREE ALLOCATIONS TOTALING $44.2 MILLION AND PROJECT DEVELOPMENT COSTS TOTALING OVER $98 MILLION.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt014756
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt0150000
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0124312
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt03688
IRS990/PYOtherExpensesAmt01369205
IRS990/PYOtherRevenueAmt0895
IRS990/PYProgramServiceRevenueAmt02486869
IRS990/PYRevenuesLessExpensesAmt01246559
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt01369205
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02615764
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0443311
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt01852410
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01384848
IRS990/SavingsAndTempCashInvstGrp/EOYAmt04203955
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER REVENUE - 2013 AMOUNT: $ 4,968. 2014 AMOUNT: $ 2,142. 2015 AMOUNT: $ 1,700. 2016 AMOUNT: $ 895. 2017 AMOUNT: $ 49.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME:
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt04250
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0124312
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0490547
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0619109
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt017090
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt03688
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt01403
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0893
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt023074
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt02175386
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt02486869
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt01793403
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt01401409
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt01277857
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt09134924
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt017090
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt03688
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt01403
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0893
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt023074

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