Cincinnati Development Fund Inc
Cincinnati Development Fund Inc
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About this organization
Mission
Cincinnati Development Fund's mission is to provide innovative real estate financing for projects that strengthen low-income neighborhoods and improve lives.
About
Cincinnati Development Fund (CDF) is a nonprofit lending institution established in 1988 to finance affordable housing development and community revitalization in the greater Cincinnati area. CDF's mission is to provide innovative real estate financing for projects that strengthen low-income neighborhoods and improve lives. Over the past 30 years, local financial institutions, foundations, socially motivated investors, and local and federal governments have all contributed to CDF's sources of capital. Financial institutions invest in CDF because of our expertise in evaluating complex loan applications with multiple financing sources. This experience makes it easier and more cost-effective for financial institutions to invest in the community. An added benefit is that funds are organized into loan pools that enable lenders to diversify their loan portfolios and share the risk on each loan with other CDF participants. CDF has originated more than $400 million in loans resulting in the creation of more than 5,500 units of housing. CDF focuses on lending in low-income communities where need and impact are the greatest. CDF is an equal opportunity provider.
Interesting data from their 2020 990 filing
The filing reveals the mission of the non-profit as “To drive community revitalization by providing capital access and technical assistance.”.
When detailing its functions, they were listed as: “To drive community revitalization by providing capital access and technical assistance.”.
- According to the law, the state where the non-profit operates has been reported as OH.
- The filing specifies that the non-profit's address in 2020 was 1224 RACE STREET, CINCINNATI, OH, 45202.
- As of 2020, the non-profit's form shows they have a total of 17 employees.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $2,220,561.
- The organization has 15 independent voting members.
- The organization was formed in 1988.
- The organization pays $1,991,808 in salary, compensation, and benefits to its employees.
- The organization pays $17,395 in fundraising expenses.