Nonprofit · EIN 31-1256064
CINCINNATI DEVELOPMENT FUND INC
Tax-exempt · CINCINNATI, OH 45202
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| March 31, 2025 | 990 | $19,961,456 | $17,013,828 | $2,947,628 | $101,598,029 | $64,037,946 | $37,560,083 |
| March 31, 2024 | 990 | $18,409,470 | $13,419,584 | $4,989,886 | $89,298,579 | $54,707,758 | $34,590,821 |
Financial details: 990 for the year ended March 31, 2025
Revenue
- Contributions, gifts and grants
- $12,330,365
- of which government grants
- $12,324,810
- Program service revenue
- $6,164,254
- Investment income
- $1,481,469
- Net gain from sales of assets
- $141,328
- Other revenue
- -$14,632
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $1,192,267
- Other salaries and wages
- $1,220,414
- Salaries, compensation and benefits (total)
- $2,804,888
- Professional fundraising fees
- $0
- Legal fees
- $111,374
- Accounting fees
- $54,400
- Occupancy
- $141,638
- Depreciation
- $15,871
- Program services (functional)
- $15,609,520
- Management and general (functional)
- $1,309,285
- Fundraising (functional)
- $95,023
Balance sheet and other
- Total assets, start of year
- $89,298,579
- Total assets, end of year
- $101,598,029
- Total liabilities, end of year
- $64,037,946
- Net assets, end of year
- $37,560,083
- Land, buildings and equipment
- $525,997
- Net assets without donor restrictions
- $37,560,083
- Gross receipts
- $22,265,128
- Employees
- 17
- Volunteers
- 20
- Year formed
- 1988
- State of legal domicile
- OH
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended March 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOSEPH HUBER | PRESIDENT & CEO Officer | 40 | $269,015 | $49,501 |
| LUKE BLOCHER | GEN. COUNSEL/CHIEF STRATEGY OFFICER Officer | 40 | $242,130 | $48,674 |
| JENNIFER LARKINS | CHEIF FINANCIAL OFFICER Officer | 40 | $209,607 | $46,411 |
| SARA SHEETS | EMPLOYEE Highest-paid employee | 40 | $132,874 | $42,964 |
| MORAG ADLON | SENIOR LOAN OFFICER Key employee | 40 | $154,040 | $21,787 |
| KELLY CLEMENTS | CHIEF LENDING OFFICER Officer | 40 | $134,402 | $16,700 |
| JAKE GRAY | CREDIT RISK MANAGER Highest-paid employee | 40 | $114,581 | $32,170 |
| JOHN REISER | SENIOR LOAN & PROGRAMS OFFICER Highest-paid employee | 40 | $105,209 | $40,743 |
| ANGELA RATLIFF | PORTFOLIO MANAGER Highest-paid employee | 40 | $102,028 | $6,615 |
| KIMBERLY MAUER | BOARD CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| SUSAN THOMAS | VICE CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| KEVIN COONEY | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| KATHLEEN SCHWAB | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| DORA ANIM | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DOUG BURGESS | TRUSTEE Trustee or director | 1 | $0 | $0 |
9 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| GARY D PAINTER | TRUSTEE Trustee or director | 1 | $0 |
| JOE HANSBAUER | TRUSTEE Trustee or director | 1 | $0 |
| KEVIN HUGHES | TRUSTEE Trustee or director | 1 | $0 |
| MARGARET MOERTL | TRUSTEE Trustee or director | 1 | $0 |
| JESSICA POWELL | TRUSTEE Trustee or director | 1 | $0 |
| MURRAY SINCLAIRE | TRUSTEE Trustee or director | 1 | $0 |
| ROBIE SUGGS | TRUSTEE Trustee or director | 1 | $0 |
| SCOTT TAYLOR | TRUSTEE Trustee or director | 1 | $0 |
| DANIELLE WILSON | TRUSTEE Trustee or director | 1 | $0 |
990 for the year ended March 31, 2024: 22 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOSEPH HUBER | PRESIDENT & CEO Officer | 40 | $271,150 | $46,068 |
| LUKE BLOCHER | GEN. COUNSEL/CHIEF STRATEGY OFFICER Officer | 40 | $222,680 | $43,784 |
| JENNIFER LARKINS | CFO Officer | 40 | $202,706 | $42,161 |
| SARA SHEETS | DIR. OF STRATEGIC INITIATIVES Highest-paid employee | 40 | $131,866 | $39,244 |
| MORAG ADLON | SENIOR LOAN OFFICER Highest-paid employee | 40 | $142,199 | $19,494 |
| JEANNE GOLLIHER TERM 1223 | CEO Officer | 40 | $125,000 | $6,250 |
| ANGELA GINTY TERM 43023 | CHIEF ADMINISTRATIVE OFFICER Officer | 40 | $85,000 | $4,386 |
| ROBIE SUGGS TERM 41423 | CHIEF LENDING OFFICER Officer | 40 | $71,971 | $3,736 |
| KIMBERLY MAUER | BOARD CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| SUSAN THOMAS | VICE CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| KEVIN COONEY | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| KATHLEEN SCHWAB | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| DORA ANIM | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DOUG BURGESS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| PHILIP DENNING | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JOE HANSBAUER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| KEVIN HUGHES | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MARGARET MOERTL | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JESSICA POWELL | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MURRAY SINCLAIRE | TRUSTEE Trustee or director | 1 | $0 | $0 |
| SCOTT TAYLOR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DANIELLE WILSON | TRUSTEE Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1224 RACE ST, CINCINNATI, OH 45202-7109
- Principal officer (990 for 2024)
- JOE HUBER, 1818 RACE STREET SUITE 401, CINCINNATI, OH 45202
- Signed the 990
- JENNIFER LARKINS, CFO
- Phone
- (513) 721-7211
- Return prepared by
- CLARK SCHAEFER HACKETT & CO
Mission
TO STRENGTHEN UNDERSERVED NEIGHBORHOODS AND IMPROVE LIVES THROUGH INNOVATIVE FINANCING.
Program accomplishments
- CINCINNATI DEVELOPMENT FUND (CDF) IS A COMMUNITY DEVEOPMENT FINANCIAL INSTITUTION (CDFI) ESTABLISHED IN 1988 TO FINANCE AFFORDABLE HOUSING DEVELOPMENT AND COMMUNITY REVITALIZATION IN THE GREATER CINCINNATI AREA. CDF'S MISSION IS TO STRENGTHEN UNDERSERVED NEIGHBORHOODS AND IMPROVE LIVES THROUGH INNOVATIVE FINANCING.OVER THE PAST 37 YEARS, LOCAL FINANCIAL INSTITUTIONS, FOUNDATIONS, SOCIALLY MOTIVATED INVESTORS, AND LOCAL AND FEDERAL GOVERNMENTS HAVE ALL CONTRIBUTED TO CDF'S SOURCES OF CAPITAL. THESE ORGANIZATIONS 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 THESE ORGANIZATIONS TO INVEST IN THE COMMUNITY. CDF HAS ORIGINATED OVER $580 MILLION IN LOANS RESULTING IN THE CREATION OF MORE THAN 9,000 UNITS OF HOUSING. CDF FOCUSES ON LENDING IN LOW INCOME COMMUNITIES WHERE NEED AND IMPACT ARE THE GREATEST.CDF IS AN EQUAL OPPORTUNITY PROVIDER.Expenses $15,609,520 · revenue $6,149,662
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in March, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | March 31, 2026 | August 17, 2026 | Not on file |
| 2024 | March 31, 2025 | August 15, 2025 | 990 on file |
| 2023 | March 31, 2024 | August 15, 2024 | 990 on file |
IRS record
- EIN
- 31-1256064
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1989
- Accounting year ends
- March
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L820)
- Assets (IRS master file)
- $101,598,029
- Income (IRS master file)
- $22,265,128
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | March 2025 | – | – | – | IRS |
| 990 | March 2024 | $18,409,470 | $13,419,584 | $89,298,579 | IRS |
| 990 | March 2023 | $10,309,687 | $4,890,754 | $69,003,326 | IRS |
| 990 | March 2022 | – | – | – | IRS |
| 990 | March 2021 | – | – | – | IRS |
| 990 | March 2019 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.
Questions about CINCINNATI DEVELOPMENT FUND INC
- What is the EIN of CINCINNATI DEVELOPMENT FUND INC?
- The employer identification number (EIN) of CINCINNATI DEVELOPMENT FUND INC is 31-1256064.
- Is CINCINNATI DEVELOPMENT FUND INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1989.
- Are donations to CINCINNATI DEVELOPMENT FUND INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CINCINNATI DEVELOPMENT FUND INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of CINCINNATI DEVELOPMENT FUND INC due?
- The return for tax year 2025 (the year ending March 31, 2026) is due August 17, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CINCINNATI DEVELOPMENT FUND INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended March 2025.
- Who is the principal officer of CINCINNATI DEVELOPMENT FUND INC?
- The 990 for the year ended March 31, 2025 names JOE HUBER.
- Who are the officers and directors of CINCINNATI DEVELOPMENT FUND INC?
- The 990 for the year ended March 31, 2025 lists 24 people; 9 received compensation from the organization, the highest $269,015 (JOSEPH HUBER, PRESIDENT & CEO).
- How much revenue does CINCINNATI DEVELOPMENT FUND INC have?
- On its 990 for the year ended March 31, 2025 it reported revenue of $19,961,456, expenses of $17,013,828 and total assets of $101,598,029 at year end.
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