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Otr Holdings INC

Not tax-deductible

Cincinnati, OHMutual-benefit / member-servingCommunity Development EIN 20-2363373Revenue $209K in FY2024

On file with the IRS1203 Walnut Street 4th Floor, 45202-3775 · Cincinnati, OHTax-exempt since Jul 2005

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To strengthen the core assets of downtown cincinnati, create great civic spaces, (continued on sch o) high density/mixed-use developments, and preserve historic structures.

Run by 1 volunteers.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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
2 of 5
filings with a surplus
Average deficit $161K a year · 202% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
304 mo
of spending, in cash
Plus $18.9M in investments, Pt X · Ln 11–13
Looks good: 304.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $75K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$29.7M
122% of total assets
Concern: liabilities are 122% of assets; over 80%.
Pt X · Ln 26
Independent board members
1
of 2 voting members
Fine: 1 of 2 voting members are independent, half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$209K
-34% vs prior year
Spent
$10K
Net assets
−$5.4M
By yearFY2020–FY2024
Revenue
$209K
FY2024▼ -34%
Tap a bar for its year
Revenue by fiscal year
FY2020$125K
FY2021−$52K
FY2022−$198K
FY2023$314K
FY2024$209K
Expenses
$10K
FY2024▼ -98%
Tap a bar for its year
Expenses by fiscal year
FY2020$100K
FY2021$521K
FY2022$58K
FY2023$512K
FY2024$10K
Net assets
−$5.4M
FY2024▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020−$4.5M
FY2021−$5.1M
FY2022−$5.4M
FY2023−$5.6M
FY2024−$5.4M

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2005.

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

Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation
Stephen G Leeper
President & CEO
$0Pt VII · Sec A
$0Pt VII · Sec A
Adam Gelter Thru 924
EVP, Development
$0Pt VII · Sec A
Timothy Szilasi
EVP & CFO & Treasurer
$0Pt VII · Sec A
Caitlin Felvus as of 0924
Clo & VP of HR & Secretary
$0Pt VII · Sec A
Katie Westbrook
VP, Development
$0Pt VII · Sec A
See Otr Holdings INC 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

Revitalizes downtown Cincinnati by developing civic spaces, mixed-use projects, and preserving historic buildings.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

The organization continued to identify buildings and property in target areas with the potential for positive future redevelopment and purchased buildings and vacant property for future redevelopment. The property is maintained and does not suffer further deterioration before redevelopment can begin.

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 · received and paid
Grants received · FY2023
Cincinnati Center City Development CorporationFY2023$75K
Total grants receivedfrom 1 funder$75K
Grants paid · 1 grant · $487K · 2023–2023
Cincinnati Center City Development CorporationOH · FY2023$487,171

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$209K
Ln 12
Investment incomeLn 3$196K
Other incomeLn 4–11$12K
Money outPt IX
$10K
Ln 25
Owns and owesPt X
−$5.4M
net assets · Ln 32
Cash and savingsLn 1–2$257K
Total assetsLn 16$24.4M
LiabilitiesLn 26$29.7M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a2
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$196K
Other incomeLn 4–11$12K
Gains on assetsLn 7$196K
Total revenueLn 12$209K
Assets in detailPt X, end of year
CashLn 1$257K
Cash and savings togetherLn 1–2$257K
InvestmentsLn 11–13$18.9M
Other assetsLn 15$3.1M
Total assetsLn 16$24.4M
LiabilitiesLn 26$29.7M
Net assetsLn 32−$5.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 61
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$55K$257K
InvestmentsLn 11–13$19.5M$18.9M
Total assetsLn 16$25.3M$24.4M
LiabilitiesLn 26$30.8M$29.7M
Net assetsLn 32−$5.6M−$5.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other expenses (24a–d)Ln 24$10K
Total functional expensesLn 25$10K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $209K$10K$198K−$5.4M 990 PDF
FY2023 $314K$512K−$198K−$5.6M 990 PDF
FY2022 −$198K$58K−$256K−$5.4M 990 PDF
FY2021 −$52K$521K−$573K−$5.1M 990 PDF
FY2020 $125K$100K$25K−$4.5M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $208,530 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $771,111$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year −$456,984$196,327
I-11 Other revenuePrior year $0$12,203
I-12 Total revenuePrior year $314,127$208,530
I-13 Grants and similar amounts paidPrior year $487,171$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $25,000$10,159
I-18 Total expensesPrior year $512,171$10,159
I-19 Revenue less expensesPrior year −$198,044$198,371
Part VI · Governance 1 of 2 board members independent, 1 to look at
VI-1a Voting members of the governing body2
VI-1b Independent voting members1
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $208,530 across 3 lines filed
VIII-7 Net gain or loss on sales of assetsExcluded from tax $196,327$196,327
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $12,203$12,203
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $208,530$208,530
Part IX · Statement of functional expenses $10,159 across 1 line filed
IX-24 Other expenses (24a–d)$10,159
IX-25 Total functional expenses$10,159
Part X · Balance sheet $24,377,469 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $55,336$257,340
X-4 Accounts receivableStart of year $2,621,033$2,136,556
X-13 Program-related investmentsStart of year $19,529,088$18,885,481
X-15 Other assetsStart of year $3,072,740$3,098,092
X-16 Total assetsStart of year $25,278,197$24,377,469
X-17 Accounts payable and accrued expensesStart of year $5,106,031$657,242
X-19 Deferred revenueStart of year $5,207,213$4,609,783
X-25 Other liabilitiesStart of year $0$3,807,220
X-26 Total liabilitiesStart of year $30,838,120$29,739,021
X-27 Net assets without donor restrictionsStart of year −$5,559,923−$5,361,552
X-32 Total net assets or fund balancesStart of year −$5,559,923−$5,361,552
X-33 Total liabilities and net assetsStart of year $25,278,197$24,377,469
Part XI · Reconciliation of net assets −$5,361,552 net assets at year end
XI-1 Total revenue$208,530
XI-2 Total expenses$10,159
XI-3 Revenue less expenses$198,371
XI-4 Net assets at start of year−$5,559,923
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$5,361,552

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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