Centrovilla25 Corporation

What it reported doing in 2024

Centrovilla25 corporation is a not-for-profit organization which was formed to cultivate a vibrant, authentic, inclusive latino cultural district in the clark-fulton neighborhood in cleveland, Ohio. Centrovilla25 corporation seeks to catalyze the economic impact through job creation and business development, developing a thriving local living economy, and creative placemaking that celebrates latino culture. Centrovilla25 corporation owns and operates a facility that includes office space leased to latino-owned businesses, kiosk spaces leased to food and beverage vendors, boutique shops, and antique shops, as well as a latino grocery market and even space available for short-term rentals. Centrovilla25 corporation and its related entities are responsible for establishing the first dedicated latino cultural district in cleveland. During fiscal year ended june 30, 2025, centrovilla25 corporation continued its work to bring together the hispanic community by completing additional phases of its facility, hosting various events, recruiting new tenants, and launching additional cultural, entrepreneurial, youth, and artistic community programs. Partnerships with new local organizations were established, and the new-markets tax credit-structured investment was deployed, in addition to securing grants to support build-out expenditures. Centrovilla25 corporation opened its doors to the public on january 2, 2025, and during the second half of the fiscal year made a significant impact within the latino community through its public market and entrepreneurial programming. The organization launched its public market with 14 kiosk vendors and entrepreneurs, providing opportunities for small business development and economic growth. Collectively, the kiosk program generated gross sales of 588,994.80 during the reporting period. In addition, centrovilla25 corporation's commercial kitchen program generated 11,866.90 in revenue and supported local food-based entrepreneurs. Through these initiatives, centrovilla25 corporation helped create 30 jobs while fostering economic opportunity and community engagement within the latino community.

Financial Efficiency

• Mission deployment rate: 43.9%; rating input score 44
• Program expense ratio: 93.4%; rating input score 93
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 66.7%; rating input score 67; 11th percentile among comparable filings
• Governance controls: 6 of 9 controls in place; rating input score 67
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: Pass
  • 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: 55.7%; rating input score 94; 94th percentile among comparable filings
• Total-asset coverage ratio: 13.03; rating input score 93; 93rd percentile among comparable filings
• Liabilities to assets ratio: 0.74; rating input score 12; 12th percentile among comparable filings
• Officer compensation ratio: 8.7%; rating input score 34; 34th percentile among comparable filings

Growth

• Program expense growth: 30.2% per year; rating input score 100; 92nd percentile among comparable filings
• Revenue growth: 97.6% per year; rating input score 100; 99th percentile among comparable filings
• Asset growth: 29.7% per year; rating input score 100; 93rd percentile among comparable filings