Overview
What is Catalytic Development Funding Corp Of Northern Kentucky?
Catalytic Development Funding Corp of Northern Kentucky is a nonprofit organization, specifically a Community Development Financial Institution (CDFI) certified by the US Department of Treasury. Located in Covington, Kentucky, their mission is to stimulate economic development and improve the quality of life for low-income (LMI) communities in Northern Kentucky's River Cities. They achieve this by employing innovative financing products, development services, and Vibrancy Initiatives that transform revitalization plans into completed projects with lasting impact. In 2022, the Catalytic Fund deployed $9,142,500 in capital, a 137% increase from 2021, and developed an active pipeline of $11,470,000. Their investments and development services have resulted in new investments of $26.3 million, preservation and renovation of 19 historic buildings, creation of 86 residential units, including 41 affordable units, and provision of 95,000 square feet of commercial space. Furthermore, they funded a community facility offering low-cost auto repair services for LMI individuals reliant on transportation for employment and education opportunities.
Official website here: www.thecatalyticfund.org
Is Catalytic Development Funding Corp Of Northern Kentucky legitimate?
Catalytic Development Funding Corp Of Northern Kentucky is a legitimate nonprofit organization registered as a 501(c)(3) entity. Catalytic Development Funding Corp Of Northern Kentucky submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $449,476
Professional Fundraising Fees: $0
Other Salaries and Wages: $153,070
For more financial information, click here
Official website here: www.thecatalyticfund.org
What is the mission statement of Catalytic Development Funding Corp Of Northern Kentucky?
The Catalytic Development Funding Corp's mission is centered around attracting quality investments that foster economic development and community development in underserved areas. As a Community Development Financial Institution (CDFI), the organization brings non-traditional growth capital to communities in need of thoughtful investment. Their innovative financing products, development services, and vibrancy initiatives help convert community revitalization plans into completed projects with lasting and measurable impact. In 2022, they deployed $9,142,500 in capital, supporting 13 projects that resulted in new investments, preserved historic buildings, created affordable housing, and provided low-cost auto repair services for individuals reliant on automobile transportation.
Official website here: www.thecatalyticfund.org
Who is the CEO of Catalytic Development Funding Corp Of Northern Kentucky?
Jeanne Schroer is the President/Ceo of Catalytic Development Funding Corp Of Northern Kentucky. The CEO's salary of Catalytic Development Funding Corp Of Northern Kentucky is $250,000 and their total compensation is $272,031.
Official website here: www.thecatalyticfund.org
What is the revenue of Catalytic Development Funding Corp Of Northern Kentucky?
Catalytic Development Funding Corp Of Northern Kentucky's revenue in 2022 was $2,528,032.
Official website here: www.thecatalyticfund.org
Who are the executives of Catalytic Development Funding Corp Of Northern Kentucky and what are their salaries?
The average compensation at Catalytic Development Funding Corp Of Northern Kentucky during 2022 was $100,424. There are 6 employees and 18 volunteers at Catalytic Development Funding Corp Of Northern Kentucky.
Here are 21 key members and their salaries (Catalytic Development Funding Corp Of Northern Kentucky's CEO's salary is $250,000 and their total compensation is $272,031):
- Jeanne Schroer (President/Ceo) [Trustee/Director]
- Joe Klare (Coo)
- April Coffee (Director)
- Bernie Mckay (Director)
- Bob Luebbe (Director)
- Brian Brockhoff (Director)
- Brian Finley (Director)
- Bruno Giacomuzzi (Director)
- Jim Uebel (Director)
- Lee Scheben (Director)
- Mark Bicker (Director)
- Pam Weber (Director)
- Rhonda Whitaker-Hurtt (Director)
- Robert Lamothe (Director)
- Scott Smith (Director)
- Thomas Allen (Director)
- Will Woodward (Director)
- Mark Caesar (Treasurer) [Trustee/Director]
- Marty Butler (Vice Chairman) [Trustee/Director]
- Charles Scheper (Chairman) [Trustee/Director]
- Martha Skelton (Board Secretary) [Trustee/Director]
Official website here: www.thecatalyticfund.org
Where can I find the form 990 for Catalytic Development Funding Corp Of Northern Kentucky?
The Catalytic Development Funding Corp Of Northern Kentucky’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.thecatalyticfund.org
Learn more at the official website: www.thecatalyticfund.org
Mission Statement of Catalytic Development Funding Corp Of Northern Kentucky
Catalytic Development Funding Corp of Northern Kentucky, a Community Development Financial Institution (CDFI) certified by the US Department of Treasury, is dedicated to bringing non-traditional growth capital to underutilized sites and buildings in low-income communities in need of thoughtful investment. Their mission is to attract quality place-based investments that result in economic development, including job and talent attraction, and local community development, leading to improvements in the quality of life and place for low-income residents.
In 2022, Catalytic Development Funding Corp of Northern Kentucky demonstrated its commitment to this mission by deploying $9,142,500 in capital, a 137% increase from the previous year's deployment of $3,872,500. This investment led to the creation of $26.3 million in new investment in the CDFI's target market, preserving and renovating 19 historic buildings, creating 86 residential units, 41 of which are affordable to households earning 80% of the area median income. Additionally, they developed 95,000 square feet of tenant-ready commercial space and funded a community facility providing low-cost auto repair services for low-income individuals who rely on automobiles for employment and educational opportunities.
In summary, Catalytic Development Funding Corp of Northern Kentucky is a mission-driven organization that leverages innovative financing, development services, and vibrancy initiatives to transform community revitalization plans into completed projects with lasting and measurable impact. Their focus on attracting quality place-based investments leads to economic development and improved quality of life for low-income residents, making them a vital partner in the revitalization of underutilized communities.
Impact
This information is meant to be a general summary of Catalytic Development Funding Corp Of Northern Kentucky. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
The Catalytic Development Funding Corp Of Northern Kentucky's impact can be seen through its successful deployment of over $9 million in capital in 2022, a significant increase from the previous year. This funding has led to the development of numerous projects that have had a lasting and measurable impact on the community. Specifically, the organization has facilitated the creation of $26.3 million in new investment in its target market, preserved and renovated 19 historic buildings, and developed 86 residential units, 41 of which are affordable to households at 80% of the Area Median Income. Additionally, the organization has created 95,000 square feet of tenant-ready commercial space and funded a community facility that provides low-cost auto repair services for individuals who rely on automobile transportation for employment and educational opportunities. Through its innovative financing products, development services, and vibrancy initiatives, the Catalytic Development Funding Corp Of Northern Kentucky plays a crucial role in driving economic development and improving the quality of life for residents in Northern Kentucky's river cities.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN ORIGINATION FEES
Revenue
$59,177
DEVELOPMENT SERVICES
Revenue
$18,893
Organization Details
Founding Year
2008
Phone
(859) 757-0519
Principal Officer
Jeanne Schroer
Main Address
50 EAST RIVERCENTER BLVD 260, COVINGTON, KY, 410111602
Website
www.thecatalyticfund.org
NTEE Category
Code: S31 - Community improvement
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