Hilliard Development Corporation EIN 20-1239966

Hilliard Development Corporation

EIN  20-1239966 Public charity (501(c)(3)) Hilliard, OH
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Size
$100K–1M
What they do
Promotes economic, commercial, and civic growth in Hilliard by supporting local development initiatives and providing innovation grants to businesses.
Leadership
Mark Tremayne · President
Money in and out
$852K revenue, $710K expenses
Bottom line
76% program efficiency

Promotes economic, commercial, and civic growth in Hilliard by supporting local development initiatives and providing innovation grants to businesses. For fiscal year 2024 it reported $852K in revenue, $710K in expenses, and $1.2M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$852K
Pt VIII · Ln 12
Total expenses
$710K
Pt IX · Ln 25
Net assets
$1.2M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $142K
Where spending went · Part IX cols B–D
Program services $0.76 Management & general $0.24
Program efficiency
76%
of spending reaches programs▼ -5% vs prior filing year
Operating runway
9.6mo
months of highly liquid reserves at operating expense rate▼ -67% vs prior filing year
Surplus margin
+17%
revenue over expenses, this year▼ -56% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$852K
FY2024▲ +42%
Expenses
$710K
FY2024▲ +91%
Total assets
$13.4M
FY2024▲ ×12
Total liabilities
$12.2M
FY2024▲ ×690
Total revenue
$852K
Pt VIII · Ln 12
Total expenses
$710K
Pt IX · Ln 25
Net assets
$1.2M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$142K
Total assetsPt X · Ln 16$13.4M
Program-expense ratioPt IX · col B76%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

3 program services account for $542K of program spending, described in the organization's own filed words · FY2024.
01

Innovation grants

$277Kprogram expense
02

Facade improvement grants

$264Kprogram expense
03

Land acquisition & sale for redevelopment in the city of hilliard

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CHilliard Development Corporation
EINHdr · item D20-1239966
Principal addressHdr · item CHilliard, OH
WebsiteHdr · item Jhilliardohio.gov
Year of formationHdr · item Lpending
State of legal domicileHdr · item MOH
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S30)
Ruling yearIRS BMFMay 2025

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Investment income$472K · 55%
Contributions & grants$356K · 42%
Other revenue$24K · 3%
Investment income55%$472K
Contributions & grants42%$356K
Other revenue3%$24K
— government grantsLn 1e$356K
Total revenueLn 12$852K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.76 Management & general $0.24
Program services76%$542K
Management & general24%$169K
Total functional expensesLn 25$710K

Balance Sheet

Part X · end of year
CashLn 1$569K
Total assetsLn 16$13.4M
Total liabilitiesLn 26$12.2M
Total net assetsLn 32$1.2M
Months of cash on handcomputed9.6

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $569K · Operating expenses/yr $710K
9.6 months
Where the money goes
Program services
Program services $542K · Total expenses $710K
76%
Management & General
Management & general $169K · Total expenses $710K
24%
Fundraising
Fundraising $0 · Total expenses $710K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $356K · Total revenue $852K
42%
Government reliance
Government grants $356K · Total revenue $852K
42%
Earned-income share
Program service revenue $0 · Total revenue $852K
0%
Investment reliance
Investment income $472K · Total revenue $852K
+55%
Program self-sufficiency
Program service revenue $0 · Total expenses $710K
0%
Growth & trend
Revenue growth (YoY)
This year $852K · Prior year $601K
+42%
Revenue CAGR
FY2020 $405K · FY2024 $852K
+20%
Net-asset trend (YoY)
End of year $1.2M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $852K · Expenses $710K
+17%
Liabilities-to-Assets
Total liabilities — · Total assets $13.4M
Net-asset ratio
Net assets $1.2M · Total assets $13.4M
9%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $13.4M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Mark Tremayne · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $710K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $710K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 76%
Overhead ratio 24%
Fundraising cost ratio 0%
Revenue growth 42%
Legal fee ratio 7%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · this organization's grantmaking
Grants paid · 38 grants · $1.2M · 2020–2024
Unitemized GrantFY2024$250,891
Forsee Power INCFY2024$100,000
Agile Ultrasonics CorporationFY2024$35,000
Unitemized GrantFY2024$27,034
Mjt Level INCFY2024$25,000
Lighthouse Avionics INCFY2024$25,000
Streetlynx CorporationFY2024$25,000
Gambit Sportsbook CorporationFY2024$24,990
9 Tree LandscapeFY2024$13,312
Vanner INCFY2024$8,381
Littleseed INCFY2024$5,685
Advance Drainage Systems INCFY2023$100,000
Unitemized GrantFY2023$71,949
Tidd Funeral Home LLCFY2023$50,000
Converge TechnologiesFY2023$34,077
Star Dynamics CorporationFY2023$25,000
Ic3d INCFY2023$12,665
Three Anchors LLCFY2023$6,000
See all 38 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$852K revenue · viewing · ⤓ 990 PDF
FY2023$601K revenue · ⤓ 990 PDF
FY2022$1.0M revenue · ⤓ 990 PDF
FY2021$320K revenue · ⤓ 990 PDF
FY2020$405K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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