Community Improvement Corporation of Cuyahoga Falls

Nonprofit profile at a glance

EIN
341719633
IRS 990 coverage
2013–2025
Forms available
Form 990 2025
Location
Cuyahoga Falls, OH, USA
Phone
3309718137
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$41,718
Expenses
$75,394
Assets
$2,102,044
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • DON WALTERS (PRESIDENT)

Highest reported compensation

  • ANTHONY ZUMBO (TRUSTEE): $219,800 total reported compensation
  • JANET CIOTOLA (TRUSTEE): $216,406 total reported compensation
  • BRYAN HOFFMAN (TRUSTEE): $211,984 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The community improvement corporation of cuyahoga falls was formed in july 1970 and incorporated as a corporation not-for-profit under title xvii, chapters 1702 and 1724 of the Ohio revised code. The stated purpose of the corporation is to advance, encourage, and promote the industrial, commercial, civic, and economic development of the city of cuyahoga falls, Ohio under applicable sections of the Ohio revised code. The corporation provides "gap" financial assistance to eligible businesses in the city of cuyahoga falls. Financial assistance is provided to for- profit organizations that are ineligible for financing through traditional lending institutions. The cic financing will not exceed 30% of the organization's total project expenses. The funding is used for the purchase of equipment and/or assets for the business. Assistance is provided in increments between 50,000-100,000, depending on the needs of the business. Payments are deferred for the first year of financing and then amorti

What it reported doing in 2025

The organization maintained certain land known as parcel number 35-01540, 333 pleasant meadow boulevard (formerly the mud run gun club), which was previously donated by the city of cuyahoga falls for the purpose or revitalization and economic development. The organization applied for and received a brownfield remediation grant, administered by the state of Ohio, department of development in 2022. The cic entered into a professional service agreement with patriot engineering and environmental, inc. For the environmental remediation and project management for this project. Remediation began in spring of 2023 and was completed in the summer of 2025. The total cost of the project was estimated to be 1,972,732.00. The brownfield remediation grant is for 1,044,549.00 and the 25% required funding match has been provided by the city of cuyahoga falls. In 2025, the expenses for this project totaled 56,091.99. The organization received 56,091.99 in grant revenue from the state. Of this amount, 56,091.99 was reimbursed to the city of cuyahoga falls. The grant was closed out and the property was transferred back to the city of cuyahoga falls on september 4, 2025 to be utilized as green space or a future trailhead for the existing mud brook trail.

Operating model

Revenue model
Investment-supported. 71% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 81% 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 a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 68
  • Accountability: 31
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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; 81st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 30%; rating input score 30; 22nd percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Fail

Sustainability

  • Operating margin: -80.7%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 27.88; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 427.1%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: 3% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 23.5% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 21.7% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90% of spending went to programs
  • Governance: 3 of 10 board members independent · 3 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $68K in reported program spending
  • Leadership: top reported pay $220K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 12 filing years from 2013 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Independent voting board scored 30/100.
  • Moderate — Accountability: Governance controls: 6 of 9 not reported.
  • High — Sustainability: Operating margin scored 20/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.