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Hilliard Development Corporation FY2023 filing

Tax-deductible

Hilliard, OH501(c)(3)Community DevelopmentEIN 20-1239966Revenue $601K in FY2023

On file with the IRShilliardohio.gov3800 Municipal Way, 43026-1620 · Hilliard, OHTax-exempt since May 2025College/university support org — 170(b)(1)(A)(iv)

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Advance, encourage and promote the industrial, economic, commercial and civic Development of the city of Hilliard.

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $131K a year · 20% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
30 mo
of spending, in cash
Looks good: 29.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$18K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$601K
-42% vs prior year
Spent
$372K
To programs
81%
Net assets
$1.1M
By yearFY2020–FY2024
Revenue
$601K
FY2023▼ -42%
Tap a bar for its year
Revenue by fiscal year
FY2020$405K
FY2021$320K
FY2022$1.0M
FY2023$601K
FY2024$852K
Expenses
$372K
FY2023▼ -62%
Tap a bar for its year
Expenses by fiscal year
FY2020$293K
FY2021$220K
FY2022$970K
FY2023$372K
FY2024$710K
Net assets
$1.1M
FY2023▲ +27%
Tap a bar for its year
Net assets by fiscal year
FY2020$664K
FY2021$764K
FY2022$836K
FY2023$1.1M
FY2024$1.2M

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2025.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $300K Management & general 19% · $72K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
Mark Tremayne
President
$0Pt VII · Sec A
Michelle Crandall
Vice Preside
$0Pt VII · Sec A
Aristotle Hutras
Board Member
$0Pt VII · Sec A
Les Carrier
Board Member
$0Pt VII · Sec A
Duane Powell
Board Member
$0Pt VII · Sec A
Matt Vanvleet
Board Member
$0Pt VII · Sec A
Joy Gallo
Board Member
$0Pt VII · Sec A
David Meadows
Secretary
$0Pt VII · Sec A
See Hilliard Development Corporation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes economic, commercial, and civic growth in Hilliard by supporting local development initiatives and providing innovation grants to businesses.

Questions for Hilliard Development Corporation

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Provided by the organization

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2 programs · in their own filed words · FY2023
01

Land acquisition & sale for redevelopment in the city of hilliard

Pt IX · col B
02

Facade improvement grants

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

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 →

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$601K
Ln 12
Gifts and grantsLn 1h$356K
Investment incomeLn 3$245K
Money outPt IX
$372K
Ln 25
Programscol B$300K
Managementcol C$72K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$913K
Total assetsLn 16$1.1M
LiabilitiesLn 26$18K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$356K
Government grantsLn 1e$356K
Investment incomeLn 3$245K
Gains on assetsLn 7$232K
Total revenueLn 12$601K
Assets in detailPt X, end of year
CashLn 1$913K
Cash and savings togetherLn 1–2$913K
Land, buildings, equipmentLn 10c$122K
Total assetsLn 16$1.1M
LiabilitiesLn 26$18K
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$817K$913K
Land, buildings, equipmentLn 10c$122K
Total assetsLn 16$843K$1.1M
LiabilitiesLn 26$8K$18K
Net assetsLn 32$836K$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$228K$228K
Grants to domestic individualsLn 2$72K$72K
Legal feesLn 11b$37K$37K
Other fees for servicesLn 11g$345$345
Other expenses (24a–d)Ln 24$35K$35K
Total functional expensesLn 25$372K$300K$72K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $852K$710K$142K$1.2M 990 PDF
FY2023 Viewing $601K$372K$229K$1.1M 990 PDF
FY2022 $1.0M$970K$72K$836K 990 PDF
FY2021 $320K$220K$100K$764K 990 PDF
FY2020 $405K$293K$112K$664K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $600,696 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,040,961$355,689
I-9 Program service revenue$0
I-10 Investment incomePrior year $425$245,007
I-11 Other revenue$0
I-12 Total revenuePrior year $1,041,386$600,696
I-13 Grants and similar amounts paidPrior year $927,924$299,691
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $41,723$72,132
I-18 Total expensesPrior year $969,647$371,823
I-19 Revenue less expensesPrior year $71,739$228,873
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $600,696 across 5 lines filed
VIII-1e Government grants$355,689
VIII-1h Total contributions, gifts and grants$355,689
VIII-3 Investment incomeRelated to mission $12,661$12,661
VIII-7 Net gain or loss on sales of assetsRelated to mission $232,346$232,346
VIII-12 Total revenueRelated to mission $245,007$600,696
Part IX · Statement of functional expenses $371,823 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $227,742$227,742
IX-2 Grants to domestic individualsPrograms $71,949$71,949
IX-11b Legal feesManagement $36,865$36,865
IX-11g Other fees for servicesManagement $345$345
IX-24 Other expenses (24a–d)Management $34,922$34,922
IX-25 Total functional expensesPrograms $299,691 · Management $72,132 · Fundraising $0$371,823
Part X · Balance sheet $1,082,009 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $816,844$912,895
X-4 Accounts receivableStart of year $26,287$46,963
X-9 Prepaid expenses and deferred chargesStart of year $204$211
X-10c Land, buildings and equipment, net$121,940
X-16 Total assetsStart of year $843,335$1,082,009
X-17 Accounts payable and accrued expensesStart of year $7,831$17,632
X-26 Total liabilitiesStart of year $7,831$17,632
X-27 Net assets without donor restrictionsStart of year $835,504$1,064,377
X-32 Total net assets or fund balancesStart of year $835,504$1,064,377
X-33 Total liabilities and net assetsStart of year $843,335$1,082,009
Part XI · Reconciliation of net assets $1,064,377 net assets at year end
XI-1 Total revenue$600,696
XI-2 Total expenses$371,823
XI-3 Revenue less expenses$228,873
XI-4 Net assets at start of year$835,504
XI-10 Net assets at end of year$1,064,377

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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