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Cincinnati Development Fund Inc

EIN 31-1256064 · Cincinnati, OH

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood85 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

TO STRENGTHEN UNDERSERVED NEIGHBORHOODS AND IMPROVE LIVES THROUGH INNOVATIVE FINANCING.

Income
$20.0 million
Spending
$17.0 million
Spent on programs
92%
Reserves
26.1 months of spending
Largest source of income
government grants, 62%
Employees
17
Volunteers
20
Highest pay
$318,516, president & ceo

Source: Form 990 for the year ending March 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 85 out of 100. Higher than 78% of charities in its peer group (housing, $10m to $100m).

  • Reserves

    35 of 35

    Spendable reserves would cover 26.1 months of spending.

  • Debt

    5 of 20

    It owes 63% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 15% of income.

  • Income trend

    15 of 15

    Income rose 8% on the year before.

  • Spending floor

    15 of 15

    92% of spending went to programs and raising each dollar of donations cost 1 cents.

Source: Form 990 for the year ending March 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 44% of charities in its peer group (housing, $10m to $100m).

  • Independent board

    25 of 25

    15 of 15 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending March 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $15.6 million spent. 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.

Source: Form 990 for the year ending March 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending March 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since September 1989.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.