CUYAHOGA FALLS, OH
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Sign In — Free (10 views/day)COMMUNITY IMPROVEMENT CORPORATION OF CUYAHOGA FALLS, founded in 1970, is a small nonprofit that reported $440K in total revenue in fiscal year 2024. Revenue fell 78% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $289K, a strong 66% operating margin.
THE COMMUNITY IMPROVEMENT CORPORATION OF CUYAHOGA FALLS WAS FORMED IN JULY 1970 AND INCORPORATED AS A CORPORATION NOT-FOR-PROFIT UNDER TITLE XVII, CHAPTERS 1702 AND 1724 OF THE OHIO REVISED CODE. THE STATED PURPOSE OF THE CORPORATION IS TO ADVANCE, ENCOURAGE, AND PROMOTE THE INDUSTRIAL, COMMERCIAL, CIVIC, AND ECONOMIC DEVELOPMENT OF THE CITY OF CUYAHOGA FALLS, OHIO UNDER APPLICABLE SECTIONS OF THE OHIO REVISED CODE. THE CORPORATION PROVIDES "GAP" FINANCIAL ASSISTANCE TO ELIGIBLE BUSINESSES IN THE CITY OF CUYAHOGA FALLS. FINANCIAL ASSISTANCE IS PROVIDED TO FOR- PROFIT ORGANIZATIONS THAT ARE INELIGIBLE FOR FINANCING THROUGH TRADITIONAL LENDING INSTITUTIONS. THE CIC FINANCING WILL NOT EXCEED 30% OF THE ORGANIZATION'S TOTAL PROJECT EXPENSES. THE FUNDING IS USED FOR THE PURCHASE OF EQUIPMENT AND/OR ASSETS FOR THE BUSINESS. ASSISTANCE IS PROVIDED IN INCREMENTS BETWEEN 50,000-100,000, DEPENDING ON THE NEEDS OF THE BUSINESS. PAYMENTS ARE DEFERRED FOR THE FIRST YEAR OF FINANCING AND THEN AMORTI
THE ORGANIZATION MAINTAINS CERTAIN LAND KNOWN AS PARCEL NUMBER 35-01540, 333 PLEASANT MEADOW BOULEVARD (FORMERLY THE MUD RUN GUN CLUB), WHICH WAS PREVIOUSLY DONATED BY THE CITY OF CUYAHOGA FALLS FOR...
THE ORGANIZATION MAINTAINS CERTAIN LAND KNOWN AS PARCEL NUMBER 35-01540, 333 PLEASANT MEADOW BOULEVARD (FORMERLY THE MUD RUN GUN CLUB), WHICH WAS PREVIOUSLY DONATED BY THE CITY OF CUYAHOGA FALLS FOR THE PURPOSE OR REVITALIZATION AND ECONOMIC DEVELOPMENT. THE ORGANIZATION APPLIED FOR AND RECEIVED A BROWNFIELD REMEDIATION GRANT, ADMINISTERED BY THE STATE OF OHIO, DEPARTMENT OF DEVELOPMENT IN 2022. THE CIC ENTERED INTO A PROFESSIONAL SERVICE AGREEMENT WITH PATRIOT ENGINEERING AND ENVIRONMENTAL, INC. FOR THE ENVIRONMENTAL REMEDIATION AND PROJECT MANAGEMENT FOR THIS PROJECT. REMEDIATION BEGAN IN SPRING OF 2023. THE ORGANIZATION APPLIED FOR AND RECEIVED AN EXTENSION ON THIS PROJECT. IT IS SLATED TO BE COMPLETE BY THE END OF SUMMER 2025. THE TOTAL COST OF THE PROJECT IS ESTIMATED TO BE 1,972,732.00. THE BROWNFIELD REMEDIATION GRANT IS FOR 1,044,549.00 AND THE 25% REQUIRED FUNDING MATCH HAS BEEN PROVIDED BY THE CITY OF CUYAHOGA FALLS. IN 2024, THE EXPENSES FOR THIS PROJECT TOTALED 184,053.48. THE ORGANIZATION RECEIVED 184, 053.48 IN GRANT REVENUE FROM THE STATE. OF THIS AMOUNT, 138,040.10 WAS REIMBURSED TO THE CITY OF CUYAHOGA FALLS AND 46,013.38 WAS APPLIED TO THE CITY 'S 25% REQUIRED MATCH. AFTER THE CLOSE-OUT OF THE GRANT, THE ORGANIZATION PLANS ON DEEDING THE PROPERTY BACK TO THE CITY OF CUYAHOGA FALLS SO THAT IT CAN BE UTILIZED AS GREEN SPACE OR A FUTURE TRAILHEAD FOR THE EXISTING MUD BROOK TRAIL.
DOWNTOWN EVENTS ARE ORGANIZED THROUGHOUT THE YEAR FOR THE PURPOSE OF ECONOMIC DEVELOPMENT OF THE DOWNTOWN AREA AN TO PROVIDE THE RESIDENTS OF CUYAHOGA FALLS AND SURROUNDING COMMUNITIES WITH AN...
DOWNTOWN EVENTS ARE ORGANIZED THROUGHOUT THE YEAR FOR THE PURPOSE OF ECONOMIC DEVELOPMENT OF THE DOWNTOWN AREA AN TO PROVIDE THE RESIDENTS OF CUYAHOGA FALLS AND SURROUNDING COMMUNITIES WITH AN OPPORTUNITY TO COME TOGETHER AND CELEBRATE THEIR COMMUNITY THROUGH MUSIC, CULTURAL FESTIVALS, AND SIMILAR EVENTS.
THE ORGANIZATION PROVIDED 2 LOANS TOTALING 100,000 TO 2 BUSINESSES IN 2024. THE FIRST LOAN WAS PROVIDED TO LEGACY LAW FIRM, LLC IN THE AMOUNT OF 50,000 AND LOAN PAYMENTS WILL BEGIN IN JANUARY OF...
THE ORGANIZATION PROVIDED 2 LOANS TOTALING 100,000 TO 2 BUSINESSES IN 2024. THE FIRST LOAN WAS PROVIDED TO LEGACY LAW FIRM, LLC IN THE AMOUNT OF 50,000 AND LOAN PAYMENTS WILL BEGIN IN JANUARY OF 2025. THIS LOAN CREATED 2 FULL-TIME POSITIONS FOR THE CITY OF CUYAHOGA FALLS. THE 2ND LOAN WAS PROVIDED TO BLACK DOG BAKING COMPANY, LLC IN OCTOBER OF 2024. PAYMENTS ON THIS LOAN WILL BEGIN IN NOVEMBER, 2025. THIS LOAN ALSO CREATED 2 FULL-TIME POSITIONS FOR THE CITY OF CUYAHOGA FALLS.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $440,227 | $1,963,946 | -0.8% |
| Expenses | $151,640 | $790,360 | -0.8% |
| Net Income | $288,587 | $1,173,586 | -0.8% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| ANTHONY ZUMBO | TRUSTEE | 1.00 |
Director
|
$0 | $56,158 | $208,930 |
| JANET CIOTOLA | TRUSTEE | 1.00 |
Director
|
$0 | $47,988 | $208,642 |
| BRYAN HOFFMAN | TRUSTEE | 1.00 |
Director
|
$0 | $46,196 | $201,525 |
| DON WALTERS | PRESIDENT | 1.00 |
Officer
Director
|
$0 | $45,894 | $194,562 |
| DIANA COLAVECCHIO | VICE PRESIDE | 1.00 |
Officer
Director
|
$0 | $36,235 | $188,743 |
| MARY SPAUGY | TREASURER | 1.00 |
Officer
Director
|
$0 | $31,242 | $157,829 |
| LORI JONES | SECRETARY | 1.00 |
Officer
Director
|
$0 | $42,335 | $110,046 |
| AARON BARNHART | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| PAUL TESTA | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| JAMES WEST | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $440,227 | $151,640 | $2,193,953 | $288,587 |
| 2023 | $1,963,946 | $790,360 | $2,107,150 | $1,173,586 |
| 2022 | $2,062,563 | $66,760 | $2,066,815 | $1,995,803 |
| 2021 | $19,895 | $91,287 | $71,992 | $-71,392 |
| 2020 | $24,736 | $23,026 | $145,918 | $1,710 |
| 2019 | $-262,707 | $19,022 | $143,448 | $-281,729 |
| 2018 | $59 | $12,717 | $428,728 | $-12,658 |
Compare COMMUNITY IMPROVEMENT CORPORATION OF CUYAHOGA FALLS with other nonprofits in Ohio and across the country.