Nonprofits›Economic And Community Development Institute Inc

Economic And Community Development Institute Inc

COLUMBUS, OH

WebsiteView as a funder

Total revenue

$15.3M

Total expenses

$13.4M

Net assets

$17.6M

Grants received

$7.2M

73 grants

EIN

311145544

Tax year

2023

Mission

Ecdi serves the needs of disadvantaged low-income, low-wealth entrepreneurs through a multi-tiered approach that combines access to affordable capital, with wraparound small business development services, allowing underserved entrepreneurs to create and expand their business and enter the economic mainstream.

Programs

1 program

Ecdi offers responsible, affordable small business loans ranging from $750 to $500,000 to entrepreneurs that face barriers to obtaining capital from traditional financial institutions. Ecdi's clientele consists largely of women (52.7%), minorities (57.2%), and low-moderate income people (47.7%). During fiscal year 2023, ecdi disbursed 948 loans totaling more than $23.0 million.

Expenses: $3.0M

Financials

FY 2023

Revenue

Contributions & grants$11.4M
Program service revenue$3.7M
Investment income$159K
Other revenue—
Total revenue$15.3M

Expenses

Grants paid$278K
Salaries & benefits$7.6M
Fundraising—
Other expenses$5.5M
Total expenses$13.4M
Total assets$77.4M
Net assets$17.6M

People

18 listed

NameRoleCompensation

STEVEN FIREMAN

PRESIDENT/SECRETARY

Board

$370K

40 hrs/wk

INNA KINNEY

FOUNDER & CEO

Board

$319K

40 hrs/wk

CARRIE ROSENFELT

VOTING INDEPENDENT BOARD MEMBER

Board

—

0

ALICIA TOWNSEND

VOTING INDEPENDENT BOARD MEMBER

Board

—

0

TARA CAMPBELL

VOTING INDEPENDENT BOARD MEMBER

Board

—

0

JEFFERY PATTER

VOTING INDEPENDENT BOARD MEMBER

Board

—

0

MATHEW GLOVER

VOTING INDEPENDENT BOARD MEMBER

Board

—

0

JOHN HRUSOVSKY II

VOTING INDEPENDENT BOARD MEMBER

Board

—

0

MAGARET FERENCE

VOTING INDEPENDENT BOARD MEMBER

Board

—

0

JEFFREY BULLER

TREASURER/VOTING INDEPENDENT BOARD MEMBER

Board

—

0

RODELL MCCULLOUGH

VOTING INDEPENDENT BOARD MEMBER

Board

—

0

DARREN CHERRY

CHAIR/VOTING INDEPENDENT BOARD MEMBER

Board

—

0

MAUREEN THOMAS

CFO

Staff

$215K

40 hrs/wk

FONDA WILLIAMS

CHIEF GOV'T AFFAIRS AND ECONOMIC DEVELOPMENT OFFIC

Staff

$187K

40 hrs/wk

JASMINE DIXON

VP OF BUSINESS GROWTH DEVELOPMENT / FUNDRAISING

Staff

$132K

40 hrs/wk

ANNA PARLET

VP OF DEVELOPMENT

Staff

$119K

40 hrs/wk

STEPHANIE MARIE VILLEGAS

VP OF LENDING & SALES

Staff

$114K

40 hrs/wk

BRIAN BARRET

VP OF FINANCIAL MANAGEMENT

Staff

$112K

40 hrs/wk

Independent contractors

SESSLEY BUILDING SERVICES LLC

CONSTRUCTION

$717K

SBC SMALL BUSINESS ADVISING LLC

TRAINING TO SMALL BUSINESS

$263K

ICE MILLER LEGAL COUNSEL

LEGAL SERVICES

$110K

Grants received

Showing 73 of 73

FromAmountPurposeYear
THE CLEVELAND FOUNDATION
$376K
ECDI CLEVELAND OPERATIONS AND PROGRAMMING
2024
LOCAL INITIATIVES SUPPORT CORPORATION
$122K
SEE PART IV
2024
COLUMBUS FOUNDATION
$120K
NEIGHBORHOOD
2024
TIDES FOUNDATION
$40K
EQUITY, HUMAN RIGHTS, AND ECONOMIC EMPOWERMENT
2024
OHIO CAPITAL IMPACT CORPORATION
$23K
DONATION
2024
ASSOCIATION OF WOMEN'S BUSINESS CENTERS
$13K
VSBDR
2024
AMERICAN ONLINE GIVING FOUNDATION INC
$10K
GENERAL SUPPORT
2024
THE CLEVELAND FOUNDATION
$351K
ENCORE DIGITAL CONNECT PROGRAM
2023
JPMORGAN CHASE FOUNDATION
$250K
IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION
2023
LOCAL INITIATIVES SUPPORT CORPORATION
$156K
SEE PART IV
2023
OPPORTUNITY FINANCE NETWORK
$125K
FINANCE JUSTICE FUND SUBGRANT
2023
The George Gund Foundation
$85K
Set Up Shop.
2023
COLUMBUS FOUNDATION
$51K
URBAN AFFAIRS
2023
THE GREATER CINCINNATI FOUNDATION
$50K
PROGRAMATIC SUPPORT
2023
GREATER COLUMBUS ARTS COUNCIL
$14K
GRANTS TO PROMOTE ART AND CULTURE IN COLUMBUS
2023
DOMINION ENERGY CHARITABLE FOUNDATION
$10K
SET UP SHOP
2023
AKRON COMMUNITY FOUNDATION
$9K
FOR SOUTH AKRON YOUTH MENTORSHIP VIA THE 2023 WISH BOOK TO HIRE A FUND DEVELOPMENT CONSULTANT TO RESEARCH NEW GRANTS, UPDATE THE DONOR MANAGEMENT AND GRANT TRACKING SYSTEMS, AND TRAIN STAFF ON BEST PRACTICES
2023
THE SCIOTO COUNTY AREA FOUNDATION
$6K
To further the exempt purpose of the organization
2023
THE CLEVELAND FOUNDATION
$301K
CLEVELAND MICROENTERPRISE DEVELOPMENT PROJECT
2022
OPPORTUNITY FINANCE NETWORK
$225K
FINANCE JUSTICE FUND SUBGRANT
2022
PEOPLEFUND
$215K
SUPPORT LENDING AND EDUCATION SERVICES TO UNDERSERVED SMALL BUSINESSES
2022
OHIO CAPITAL FINANCE CORPORATION
$130K
PROGRAM SUPPORT
2022
COLUMBUS FOUNDATION
$127K
URBAN AFFAIRS
2022
LOCAL INITIATIVES SUPPORT CORPORATION
$114K
SEE PART IV
2022
THE GREATER CINCINNATI FOUNDATION
$75K
GENERAL PURPOSE
2022
CHARITIES AID FOUNDATION AMERICA
$66K
CHARITABLE DONATION
2022
FIRSTENERGY FOUNDATION
$30K
EDUCATION
2022
FIRSTENERGY FOUNDATION
$30K
EDUCATION
2022
FIRSTENERGY FOUNDATION
$30K
EDUCATION
2022
AKRON COMMUNITY FOUNDATION
$8K
TO SUPPORT AKRON AREA SMALL BUSINESS OWNERS THROUGH FINANCING, WORKSHOPS, EVENTS AND TRAINING
2022
JUMPSTART INC
$8K
ECONOMIC DEVELOPMENT
2022
JUMPSTART INC
$146K
ECONOMIC DEVELOPMENT
2021
JPMORGAN CHASE FOUNDATION
$88K
IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION
2021
FIRST FINANCIAL FOUNDATION
$50K
WORKFORCE DEVELOPMENT SERVICES TO BE TARGETED IN DAYTON AND NORTHERN OHIO COUNTIES
2021
CHARITIES AID FOUNDATION AMERICA
$36K
CHARITABLE DONATION
2021
AKRON COMMUNITY FOUNDATION
$6K
FOR GENERAL OPERATING SUPPORT TO ADDRESS THE NEEDS OF AKRON AREA SMALL BUSINESS OWNERS
2021
JPMORGAN CHASE FOUNDATION
$250
GENERAL OPERATING SUPPORT
2021
JPMORGAN CHASE FOUNDATION
$250K
IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION
2020
The Chicago Community Trust
$200K
TO SUPPORT TECHNOLOGY, STAFF, AND OTHER STRATEGIES FOR INCREASING CAPACITY TO TRACK DATA AND DELIVER INNOVATIVE PRODUCTS
2020
THE CLEVELAND FOUNDATION
$175K
THE CLEVELAND MICROENTERPRISE NEIGHBORHOOD DEVELOPMENT PROGRAM
2020
COLUMBUS FOUNDATION
$100K
URBAN AFFAIRS
2020
OHIO CAPITAL FINANCE CORPORATION
$100K
PROGRAM SUPPORT
2020
OHIO CAPITAL IMPACT CORPORATION
$85K
PROGRAM SUPPORT
2020
BURTON D MORGAN FOUNDATION INC
$75K
to support operations of the Akron office in fiscal year 2021
2020
BURTON D MORGAN FOUNDATION INC
$75K
to support operations of the Akron office in fiscal year 2020
2020
JUMPSTART INC
$71K
ECONOMIC DEVELOPMENT
2020
THE GREATER CINCINNATI FOUNDATION
$50K
GENERAL PURPOSE
2020
COLUMBUS FOUNDATION
$40K
URBAN AFFAIRS
2020
The Bank of America Charitable Foundation Inc
$30K
GENERAL SUPPORT
2020
COLUMBUS FOUNDATION
$30K
URBAN AFFAIRS
2020
UNITED WAY OF CENTRAL OHIO INC
$30K
DONOR/VOLUNTEER DESIGNATED FOR PROGRAM SUPPORT
2020
COLUMBUS FOUNDATION
$25K
URBAN AFFAIRS
2020
UNITED WAY OF CENTRAL OHIO INC
$23K
PROGRAM OPERATING SUPPORT
2020
COLUMBUS FOUNDATION
$19K
URBAN AFFAIRS
2020
LOCAL INITIATIVES SUPPORT CORPORATION
$15K
SEE PART IV
2020
COLUMBUS FOUNDATION
$11K
URBAN AFFAIRS
2020
COLUMBUS FOUNDATION
$5K
URBAN AFFAIRS
2020
COLUMBUS FOUNDATION
$5K
URBAN AFFAIRS
2020
THE RICHARD L AND FREDA K FLERLAGE
$2K
To provide SBA microloans to entrepreneurs in underserved communities in historically disenfranchised neighborhoods, as well as business education to lead in revitalizing their communities which are undergoing redevelopment efforts.
2020
JPMORGAN CHASE FOUNDATION
$33
GENERAL OPERATING SUPPORT
2020
JUMPSTART INC
$225K
ECONOMIC DEVELOPMENT
2019
JPMORGAN CHASE FOUNDATION
$88K
IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION
2019
UNITED WAY OF CENTRAL OHIO INC
$30K
PROGRAM OPERATING COSTS
2019
UNITED WAY OF CENTRAL OHIO INC
$17K
PROGRAM OPERATING COSTS
2019
JPMORGAN CHASE FOUNDATION
$1.4M
IN SUPPORT OF NEIGHBORHOOD REVITALIZATION
2018
THE CLEVELAND FOUNDATION
$231K
CORE CITY NEIGHBORHOOD-BASED LENDING AND TRAINING INITIATIVE
2018
JPMORGAN CHASE FOUNDATION
$175K
IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION
2018
JUMPSTART INC
$61K
ECONOMIC DEVELOPMENT
2018
MIROLO CHARITABLE FOUNDATION
$20K
SUPPORT OF EXEMPT PURPOSE.
2018
AKRON COMMUNITY FOUNDATION
$10K
TO SUPPORT THE WOMEN'S BUSINESS CENTER OF NORTHERN OHIO (WBC) - AKRON OUTREACH
2018
UNITED WAY OF CENTRAL OHIO INC
$8K
PROGRAM OPERATING COSTS
2018
JPMORGAN CHASE FOUNDATION
$202
GENERAL OPERATING SUPPORT
2018
JUMPSTART INC
$50K
ECONOMIC DEVELOPMENT
2017

Funded by

$7.2M from 27 funders · 73 grants · 2017–2024

Jpmorgan Chase Foundation

$2.3M · 9 grants · 2018–2023

The Cleveland Foundation

$1.4M · 5 grants · 2018–2024

Jumpstart Inc

$561K · 6 grants · 2017–2022

Columbus Foundation

$532K · 11 grants · 2020–2024

Local Initiatives Support Corporation

$408K · 4 grants · 2020–2024

Opportunity Finance Network

$350K · 2 grants · 2022–2023

Ohio Capital Finance Corporation

$230K · 2 grants · 2020–2022

Peoplefund

$215K · 1 grant · 2022

Details

EIN311145544
Subsection03
Ruling date1986-02
Formed1985
Employees91
Volunteers111
ECONOMIC AND COMMUNITY DEVELOPMENT INSTITUTE INC — Mission, Financials & Grants Received | Grantivo