CINCINNATI CENTER CITY DEVELOPMENT CORP (EIN 200446324) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2004

Legal Domicile

Principal Officer

TIMOTHY SZILASI

Phone

5136214400

Tax Period

2023-01-01 to 2023-12-31

CINCINNATI CENTER CITY DEVELOPMENT CORP, founded in 2004, is a mid-sized nonprofit in the Community Improvement sector that reported $69.2M in total revenue in fiscal year 2023. Revenue surged 48% from the prior year, signaling strong growth momentum. Expenses of $62.3M left a modest 10% surplus.

Mission

TO STRENGTHEN THE CORE ASSETS OF DOWNTOWN CINCINNATI, CREATE GREAT CIVIC SPACES, (SEE SCHEDULE O) HIGH-DENSITY/MIXED-USE DEVELOPMENTS, AND PRESERVE HISTORIC STRUCTURES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,799,836

Program Service Revenue $47,655,266

Investment Income $16,261,499

Other Revenue $484,647

TOTAL REVENUE $69,201,248

Expense Breakdown

Grants Paid $111,268

Salaries & Benefits $16,392,125

Fundraising Expenses $191,400

Program Expenses $55,269,550

Other Expenses $45,756,828

TOTAL EXPENSES $62,260,221

Year-over-Year Comparison

	2023	2022	Change
Revenue	$69,201,248	$46,900,631	+0.5%
Expenses	$62,260,221	$54,637,574	+0.1%
Net Income	$6,941,027	$-7,736,943	-1.9%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

544

Volunteers

100

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,334,757

Total Directors

$590,195

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEPHEN G LEEPER	PRESIDENT & CEO	45.00	Officer Director	$554,870	$35,325	$590,195
SHAILESH JEJURIKAR	CHAIR	1.00	Officer Director	$0	$0	$0
RALPH S MICHAEL III	VICE CHAIR	1.00	Officer Director	$0	$0	$0
JOSEPH A PICHLER	VICE CHAIR	1.00	Officer Director	$0	$0	$0
JOHN F BARRETT	BOARD MEMBER	1.00	Director	$0	$0	$0
PATTY BASTI	BOARD MEMBER	1.00	Director	$0	$0	$0
NEIL K BORTZ	BOARD MEMBER	1.00	Director	$0	$0	$0
ARCHIE BROWN	BOARD MEMBER	1.00	Director	$0	$0	$0
ROBERT H CASTELLINI	BOARD MEMBER	1.00	Director	$0	$0	$0
BRANDON CULL	BOARD MEMBER (BEG 05/23)	1.00	Director	$0	$0	$0
STEVE DAVIS	BOARD MEMBER	1.00	Director	$0	$0	$0
LEIGH FOX	BOARD MEMBER	1.00	Director	$0	$0	$0
SHELLY GILLIS	BOARD MEMBER (BEG 02/23)	1.00	Director	$0	$0	$0
MEL GRAVELY	BOARD MEMBER (BEG 02/23)	1.00	Director	$0	$0	$0
CHRIS HABEL	BOARD MEMBER	1.00	Director	$0	$0	$0
RYAN HAYS	BOARD MEMBER	1.00	Director	$0	$0	$0
BRIAN HODGETT	BOARD MEMBER	1.00	Director	$0	$0	$0
RYAN JANKOWSKI	BOARD MEMBER	1.00	Director	$0	$0	$0
ELLEN M KATZ	BOARD MEMBER (THRU 07/23)	1.00	Director	$0	$0	$0
GARY LINDGREN	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN C MERCHANT	BOARD MEMBER	1.00	Director	$0	$0	$0
BERNIE MCKAY	BOARD MEMBER	1.00	Director	$0	$0	$0
RODNEY MCMULLEN	BOARD MEMBER	1.00	Director	$0	$0	$0
JILL MEYER	BOARD MEMBER (THRU 05/23)	1.00	Director	$0	$0	$0
STEVE MULLINGER	BOARD MEMBER	1.00	Director	$0	$0	$0
MATTHEW RANDAZZO	BOARD MEMBER (BEG 07/23)	1.00	Director	$0	$0	$0
TODD SCHNEIDER	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES SOWAR	BOARD MEMBER	1.00	Director	$0	$0	$0
AMY SPILLER	BOARD MEMBER	1.00	Director	$0	$0	$0
JEREMY VAUGHN	BOARD MEMBER	1.00	Director	$0	$0	$0
WARREN WEBER	BOARD MEMBER	1.00	Director	$0	$0	$0
THOMAS L WILLIAMS	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES M ZIMMERMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
ADAM GELTER	EVP, DEVELOPMENT	45.00	Officer	$332,093	$58,751	$390,844
TIMOTHY SZILASI	SECY., TREAS., SR. VP & CF	45.00	Officer	$300,541	$53,177	$353,718
CHRISTY VISSMAN	VP EVENTS & SR. VP	50.00	Highest	$228,759	$63,532	$292,291
LANN FIELD	VP DEVELOPMENT	45.00	Highest	$176,571	$19,752	$196,323
MICHAEL DUMBAULD	VP FINANCE	50.00	Highest	$136,470	$6,648	$143,118
KATIE WESTBROOK	DEVELOPMENT DIRECTOR	50.00	Highest	$126,779	$8,885	$135,664
BRANDY DELFAVERO	DEVELOPMENT DIRECTOR	50.00	Highest	$127,436	$6,517	$133,953

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$69,201,248	$62,260,221	$416,219,260	$6,941,027
2022	$46,900,631	$54,637,574	$437,931,521	$-7,736,943
2021	$48,260,098	$49,969,068	$391,517,750	$-1,708,970
2020	$43,403,938	$77,493,673	$365,563,062	$-34,089,735
2019	$55,407,871	$53,200,478	$415,820,077	$2,207,393
2018	$38,207,083	$39,330,180	$413,225,233	$-1,123,097

CINCINNATI CENTER CITY DEVELOPMENT CORP