CEDA Community Development Fund
Nonprofit profile at a glance
- EIN
- 364337956
- IRS 990 coverage
- 2009–2018
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2018
- Location
- Chicago, IL, US
- Phone
- (800) 571-CEDA(2332)
- Rating
- 71
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Fund Raising and Fund Distribution
Reported finances
- Revenue
- $1,471
- Expenses
- $438,963
- Assets
- $0
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- GLEN OFENLOCH (PRESIDENT)
Highest reported compensation
- HAROLD RICE (DIRECTOR): $253,993 total reported compensation
- GLEN OFENLOCH (PRESIDENT): $222,487 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
We connect people with the services & opportunities they need to lift themselves out of poverty.
What it reported doing in 2018
Ceda community development fund's mission is to create, retain and develop small business and economic institutions that improve the economic stability and independence of the community. Ceda community development fund aims to increase the income of its residents to increase job opportunities for the underemployed and unemployed to more equally distribute economic resources, social services, and technical assistance. Ceda community development fundalso provides financial literacy training that encourages and empowers low-income individuals and families toward positive actionthat meets basic human needs and helps them become self-sufficient.
Operating model
- Revenue model
- Investment-supported. 100% of the money available for current operations came from recurring investment income.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 86
- Transparency & Controls: 68
- Accountability: 68
- Sustainability: 3
- Growth: 40
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 90.1%; rating input score 90
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 79th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 60%; rating input score 60; 20th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -29,741.1%; rating input score 1; 1st percentile among comparable filings
- Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 7.2%; rating input score 18; 18th percentile among comparable filings
Growth
- Program expense growth: 85.7% per year; rating input score 100; 98th percentile among comparable filings
- Revenue growth: -10.8% per year; rating input score 0; 34th percentile among comparable filings
- Asset growth: -6% per year; rating input score 0; 23rd percentile among comparable filings
Details
- What they do: 5 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 100% of revenue deployed · 90.1% of spending went to programs
- Governance: 3 of 5 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $395K in reported program spending
- Leadership: top reported pay $254K · 6 people listed · 0 of 6 pay-setting controls reported
- Consistency: 16 of 16 current checks pass
- Schedules: 7 filed schedules · includes grants and executive pay
- Filing history: 10 filing years from 2009 to 2018
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 2 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Sustainability: Operating margin scored 1/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Sustainability: Total-asset coverage ratio scored 2/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 18/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.