COMMUNITY IMPROVEMENT CORPORATION … - Form 990 Financial Data

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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

2010

Legal Domicile

Principal Officer

Christopher Tipping

Phone

3306689500

Tax Period

2024-01-01 to 2024-12-31

COMMUNITY IMPROVEMENT CORPORATION OF FAIRLAWN OHIO, founded in 2010, is a small nonprofit in the Community Improvement sector that reported $275K in total revenue in fiscal year 2024. Revenue surged 254647% from the prior year, signaling strong growth momentum. The organization ran a surplus of $189K, a strong 69% operating margin.

Mission

The Corporation was organized for the purpose of advancing, encouraging, and promoting the industrial, economic, commercial and civic development of the City and to facilitate the reclamation, rehabilitation, and re-utilization of real property in the City.

Program Service Accomplishments

Program 1

Expenses: $0 Revenue: $0

To advance, encourage, and promote the industrial, economic, commercial, and civic development of the City of Fairlawn.

Program 2

Expenses: $83,809 Revenue: $0

The Corporation facilitated the reclamation, rehabilitation, and re-utilization of vacant, abandoned, tax-foreclosed, or other real property in the City of Fairlawn. The Corporation remitted excess lease proceeds to the City that resulted from an on-going 10-year lease/purchase agreement with a local company to re-utilize vacant real property. The Corporation also conveyed two parcels of vacant real property to the City for stormwater management. The Corporation

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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 (2024)

Revenue Breakdown

Contributions & Grants $275,117

Program Service Revenue $0

Investment Income $10

Other Revenue $0

TOTAL REVENUE $275,127

Expense Breakdown

Grants Paid $83,809

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $83,809

Other Expenses $2,478

TOTAL EXPENSES $86,287

Year-over-Year Comparison

	2024	2023	Change
Revenue	$275,127	$108	+2546.5%
Expenses	$86,287	$2,770	+30.2%
Net Income	$188,840	$-2,662	-71.9%

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

N/A

Volunteers

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

$10,822

Total Directors

$299,042

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Ernie Staten	Trustee	0.10	Director	$0	$0	$194,023
Russell Sharnsky	Trustee	0.10	Director	$0	$0	$84,197
Jonathon Groza	Secretary	0.10	Officer Director	$0	$0	$10,822
Mark Ludwig	Trustee	0.10	Director	$0	$0	$10,000
Barbara Potts	Trustee	0.10	Director	$0	$0	$0
Christopher Tipping	President	0.10	Officer Director	$0	$0	$0
Timothy Sisler	Vice-President	0.10	Officer Director	$0	$0	$0
Raymond Lampner	Treasurer	0.10	Officer Director	$0	$0	$0

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	$275,127	$86,287	$1,190,035	$188,840
2023	$108	$2,770	$1,001,462	$-2,662
2022	$25,222	$11,195	$1,004,078	$14,027
2021	$670,786	$10,814	$989,824	$659,972
2020	No data	$440,690	$329,852	No data

COMMUNITY IMPROVEMENT CORPORATION OF FAIRLAWN OHIO