2026-05-13T14:48:57-04:00 2025-06-30 341316056 NEITZEL LUKE & SALOPEK INC 25000 CENTER RIDGE RD STE 8 WESTLAKE OH 44145 990 2024-07-01 922482558 CENTROVILLA25 CORPORATION CENT 2162814422 3140 W 25TH ST CLEVELAND OH 44109 JENICE CONTRERAS PRESIDENT/CEO 2162814422 2026-05-13 true false MICHAEL T SALOPEK CPA P01615396 4408351040 2026-05-13 2024 2025-03-06 01:10:19Z X JENICE CONTRERAS 3140 W 25TH ST CLEVELAND OH 44109 2355810 false X X 2023 OH TO CULTIVATE A VIBRANT, AUTHENTIC, INCLUSIVE LATINO CULTURAL DISTRICT IN THE CLARK-FULTON NEIGHBORHOOD IN CLEVELAND, OHIO. 3 2 0 41 0 750000 1972885 0 60955 102131 280794 810955 2355810 0 0 1107 0 0 0 718340 1044227 719447 1044227 91508 1311583 10083132 13602933 10050642 10057283 32490 3545650 X TO CULTIVATE A VIBRANT, AUTHENTIC, INCLUSIVE LATINO CULTURAL DISTRICT IN THE CLARK-FULTON NEIGHBORHOOD IN CLEVELAND, OHIO. false false 974887 CENTROVILLA25 CORPORATION IS A NOT-FOR-PROFIT ORGANIZATION WHICH WAS FORMED TO CULTIVATE A VIBRANT, AUTHENTIC, INCLUSIVE LATINO CULTURAL DISTRICT IN THE CLARK-FULTON NEIGHBORHOOD IN CLEVELAND, OHIO. CENTROVILLA25 CORPORATION SEEKS TO CATALYZE THE ECONOMIC IMPACT THROUGH JOB CREATION AND BUSINESS DEVELOPMENT, DEVELOPING A THRIVING LOCAL LIVING ECONOMY, AND CREATIVE PLACEMAKING THAT CELEBRATES LATINO CULTURE. CENTROVILLA25 CORPORATION OWNS AND OPERATES A FACILITY THAT INCLUDES OFFICE SPACE LEASED TO LATINO-OWNED BUSINESSES, KIOSK SPACES LEASED TO FOOD AND BEVERAGE VENDORS, BOUTIQUE SHOPS, AND ANTIQUE SHOPS, AS WELL AS A LATINO GROCERY MARKET AND EVEN SPACE AVAILABLE FOR SHORT-TERM RENTALS. CENTROVILLA25 CORPORATION AND ITS RELATED ENTITIES ARE RESPONSIBLE FOR ESTABLISHING THE FIRST DEDICATED LATINO CULTURAL DISTRICT IN CLEVELAND. DURING FISCAL YEAR ENDED JUNE 30, 2025, CENTROVILLA25 CORPORATION CONTINUED ITS WORK TO BRING TOGETHER THE HISPANIC COMMUNITY BY COMPLETING ADDITIONAL PHASES OF ITS FACILITY, HOSTING VARIOUS EVENTS, RECRUITING NEW TENANTS, AND LAUNCHING ADDITIONAL CULTURAL, ENTREPRENEURIAL, YOUTH, AND ARTISTIC COMMUNITY PROGRAMS. PARTNERSHIPS WITH NEW LOCAL ORGANIZATIONS WERE ESTABLISHED, AND THE NEW-MARKETS TAX CREDIT-STRUCTURED INVESTMENT WAS DEPLOYED, IN ADDITION TO SECURING GRANTS TO SUPPORT BUILD-OUT EXPENDITURES. CENTROVILLA25 CORPORATION OPENED ITS DOORS TO THE PUBLIC ON JANUARY 2, 2025, AND DURING THE SECOND HALF OF THE FISCAL YEAR MADE A SIGNIFICANT IMPACT WITHIN THE LATINO COMMUNITY THROUGH ITS PUBLIC MARKET AND ENTREPRENEURIAL PROGRAMMING. THE ORGANIZATION LAUNCHED ITS PUBLIC MARKET WITH 14 KIOSK VENDORS AND ENTREPRENEURS, PROVIDING OPPORTUNITIES FOR SMALL BUSINESS DEVELOPMENT AND ECONOMIC GROWTH. COLLECTIVELY, THE KIOSK PROGRAM GENERATED GROSS SALES OF 588,994.80 DURING THE REPORTING PERIOD. IN ADDITION, CENTROVILLA25 CORPORATION'S COMMERCIAL KITCHEN PROGRAM GENERATED 11,866.90 IN REVENUE AND SUPPORTED LOCAL FOOD-BASED ENTREPRENEURS. THROUGH THESE INITIATIVES, CENTROVILLA25 CORPORATION HELPED CREATE 30 JOBS WHILE FOSTERING ECONOMIC OPPORTUNITY AND COMMUNITY ENGAGEMENT WITHIN THE LATINO COMMUNITY. 974887 true true false false false false false false false false true false false false true true true false false false false false false false false false false false false false false false false false false true false false false false false false false true false false false true 10 0 true 0 false false false false false false false false X 3 2 false true false false false false false true true false false true true true true false false true false false OH X JENICE CONTRERAS 2162814422 3140 W 25TH ST CLEVELAND OH 44109 X JENICE CONTRERAS PRESIDENT/CE 40.00 X 0 150000 0 JOSE VASQUEZ CHAIR 1.00 X X 0 0 90875 DR NICHOLAS MAYS CO-CHAIR 1.00 X X 0 0 0 150000 90875 false false false X 1972885 1972885 102131 102131 247061 247061 247061 247061 OTHER REVENUE 33733 33733 33733 2355810 33733 349192 7900 7900 3610 3610 66360 66360 99340 99340 67517 31654 35863 6400 6400 266253 253014 13239 2984 2984 102524 102524 243074 243074 18637 18637 EVENT EXPENSE 123571 123571 EQUIPMENT RENTAL 19166 19166 DONATION EXPENSE 4489 4489 LICENSES & PERMITS 4340 4340 8062 6461 1601 1044227 974887 69340 0 4560239 1390133 4300 12520616 312116 12208500 5522893 10083132 13602933 17981 53818 10032661 9915188 88277 10050642 10057283 X 32490 3545650 32490 3545650 10083132 13602933 X 1311583 2201577 X false true X true false X 750000 1972885 2722885 60955 33733 94688 810955 2006618 2817573 2817573 349192 349192 349192 349192 810955 2355810 3166765 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 273800 273800 12150056 310741 11839315 6875 1375 5500 89885 89885 12208500 DUE TO NEO CTR ECON DEV 68887 ACCRUED INCOME 19390 88277 X 2355810 2355810 2355810 1044227 1044227 1044227 SCHEDULE D, PAGE 3, PART X CENTROVILLA25 CORPORATION COMPLIED WITH FASB ASC 740 - ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. FASB ASC 740 DETAILS HOW COMPANIES SHOULD RECOGNIZE, MEASURE, PRESENT AND DISCLOSE UNCERTAIN TAX POSITIONS THAT HAVE BEEN OR ARE EXPECTED TO BE TAKEN. AS SUCH, THE FINANCIAL STATEMENTS WOULD REFLECT EXPECTED FUTURE TAX CONSEQUENCES OF UNCERTAIN TAX POSITIONS PRESUMING THE TAXING AUTHORITIES' FULL KNOWLEDGE OF THE POSITION AND ALL RELEVANT FACTS, IF THEY EXISTED. THE MANAGEMENT OF CENTROVILLA25 CORPORATION BELIEVES THAT THERE ARE NO UNCERTAIN TAX POSITIONS. CENTROVILLA25 CORPORATION HAS TWO TAX YEARS SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, AS THIS IS THE SECOND YEAR FILING FORM 990. QUEZ MEDIA MARKETING INC OFFICER 16875 SIGNAGE false QUEZ MEDIA MARKETING INC OFFICER 74000 MARKETING false SCHEDULE L, PART V DURING THE YEAR ENDED JUNE 30, 2025, CENTROVILLA25 CORPORATION ENGAGED THE SERVICES OF QUEZ MEDIA MARKETING, INC., A MARKETING AND ADVERTISING FIRM WHOLLY OWNED BY JOSE VASQUEZ, WHO SERVES AS THE CHAIRMAN OF CENTROVILLA25 CORPORATION. THE ORGANIZATION PAID QUEZ MEDIA MARKETING, INC. APPROXIMATELY 74,000 DURING FISCAL YEAR ENDED JUNE 30, 2025 FOR ADVERTISING, DIGITAL MARKETING, AND RELATED SERVICES. CENTROVILLA25 CORPORATION ALSO PAID QUEZ MEDIA MARKETING, INC. 16,875 FOR DIRECT COSTS OF A BILLBOARD CAMPAIGN DURING THE FISCAL YEAR ENDED JUNE 30, 2025. QUEZ MEDIA MARKETING, INC. EARNED NO NET INCOME AS A RESULT OF THIS BILLBOARD CAMPAIGN. AMOUNTS DUE FROM CENTROVILLA25 CORPORATION TO QUEZ MEDIA MARKETING, INC. AS OF JUNE 30, 2025 WAS 1,727. THIS AMOUNT IS INCLUDED ON AS ACCOUNTS PAYABLE AND ACCRUED EXPENSES SHOWN ON FORM 990, PART X, LINE 17. FORM 990, PAGE 2, PART III, LINE 4A CENTROVILLA25 CORPORATION IS A NOT-FOR-PROFIT ORGANIZATION WHICH WAS FORMED TO CULTIVATE A VIBRANT, AUTHENTIC, INCLUSIVE LATINO CULTURAL DISTRICT IN THE CLARK-FULTON NEIGHBORHOOD IN CLEVELAND, OHIO. CENTROVILLA25 CORPORATION SEEKS TO CATALYZE THE ECONOMIC IMPACT THROUGH JOB CREATION AND BUSINESS DEVELOPMENT, DEVELOPING A THRIVING LOCAL LIVING ECONOMY, AND CREATIVE PLACEMAKING THAT CELEBRATES LATINO CULTURE. CENTROVILLA25 CORPORATION OWNS AND OPERATES A FACILITY THAT INCLUDES OFFICE SPACE LEASED TO LATINO-OWNED BUSINESSES, KIOSK SPACES LEASED TO FOOD AND BEVERAGE VENDORS, BOUTIQUE SHOPS, AND ANTIQUE SHOPS, AS WELL AS A LATINO GROCERY MARKET AND EVEN SPACE AVAILABLE FOR SHORT-TERM RENTALS. CENTROVILLA25 CORPORATION AND ITS RELATED ENTITIES ARE RESPONSIBLE FOR ESTABLISHING THE FIRST DEDICATED LATINO CULTURAL DISTRICT IN CLEVELAND. DURING FISCAL YEAR ENDED JUNE 30, 2025, CENTROVILLA25 CORPORATION CONTINUED ITS WORK TO BRING TOGETHER THE HISPANIC COMMUNITY BY COMPLETING ADDITIONAL PHASES OF ITS FACILITY, HOSTING VARIOUS EVENTS, RECRUITING NEW TENANTS, AND LAUNCHING ADDITIONAL CULTURAL, ENTREPRENEURIAL, YOUTH, AND ARTISTIC COMMUNITY PROGRAMS. PARTNERSHIPS WITH NEW LOCAL ORGANIZATIONS WERE ESTABLISHED, AND THE NEW-MARKETS TAX CREDIT-STRUCTURED INVESTMENT WAS DEPLOYED, IN ADDITION TO SECURING GRANTS TO SUPPORT BUILD-OUT EXPENDITURES. CENTROVILLA25 CORPORATION OPENED ITS DOORS TO THE PUBLIC ON JANUARY 2, 2025, AND DURING THE SECOND HALF OF THE FISCAL YEAR MADE A SIGNIFICANT IMPACT WITHIN THE LATINO COMMUNITY THROUGH ITS PUBLIC MARKET AND ENTREPRENEURIAL PROGRAMMING. THE ORGANIZATION LAUNCHED ITS PUBLIC MARKET WITH 14 KIOSK VENDORS AND ENTREPRENEURS, PROVIDING OPPORTUNITIES FOR SMALL BUSINESS DEVELOPMENT AND ECONOMIC GROWTH. COLLECTIVELY, THE KIOSK PROGRAM GENERATED GROSS SALES OF 588,994.80 DURING THE REPORTING PERIOD. IN ADDITION, CENTROVILLA25 CORPORATION'S COMMERCIAL KITCHEN PROGRAM GENERATED 11,866.90 IN REVENUE AND SUPPORTED LOCAL FOOD-BASED ENTREPRENEURS. THROUGH THESE INITIATIVES, CENTROVILLA25 CORPORATION HELPED CREATE 30 JOBS WHILE FOSTERING ECONOMIC OPPORTUNITY AND COMMUNITY ENGAGEMENT WITHIN THE LATINO COMMUNITY. FORM 990, PAGE 6, PART VI, LINE 3 DURING THE FISCAL YEAR ENDED JUNE 30, 2025, THE ORGANIZATION RECEIVED EXECUTIVE LEADERSHIP AND SHARES ADMINISTRATIVE SERVICES FROM ITS RELATED 501(C)3 PARENT AFFILIATE, THE NORTHEAST OHIO HISPANIC CENTER FOR ECONOMIC DEVELOPMENT ("NEOHCED," EIN: 34-1805510), UNDER AN ADMINISTRATIVE SERVICES ARRANGEMENT WHICH IS CURRENTLY UNDER NEGOTIATION. THE ARRANGEMENT WILL BE OVERSEEN BY THE CENTROVILLA25 BOARD OF DIRECTORS, AND THE RELATED-PARTY TRANSACTION IS DISCLOSED ON SCHEDULE R, PART V. FORM 990, PAGE 6, PART VI, LINE 11B A FINAL VERSION OF THE FORM 990 IS PROVIDED TO EACH BOARD MEMBER BEFORE IT IS FILED. FORM 990, PAGE 6, PART VI, LINE 12C THE BOARD REVIEWS AND SIGNS THE CONFLICT OF INTEREST POLICY ANNUALLY. FORM 990, PAGE 6, PART VI, LINE 15A THE EXECUTIVE DIRECTOR HAS AN ANNUAL REVIEW PROCESS THAT TAKES PLACE AROUND THEIR ANNIVERSARY DATE. EACH BOARD MEMBER IS ASKED TO COMPLETE AN EVALUATION TOOL APPROVED BY THE BOARD. THE EXECUTIVE TEAM POPULATES THE RESULTS AND SHARES WITH THE EXECUTIVE DIRECTOR, ALONG WITH COMPENSATION RECOMMENDATIONS. STAFF ALSO HAS AN ANNUAL EVALUATION COMPLETED AROUND THEIR ANNIVERSARY DATE. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PAGE 7, PART VII JENICE CONTRERAS WAS PAID 150,000 IN BASE COMPENSATION BY THE NORTHEAST OHIO CENTER FOR ECONOMIC DEVELOPMENT. FORM 990, PART VIII ADDITIONAL INFORMATION FOR PART XIII, LN 6A - ALL RENTAL INCOME IS EXCLUDED FROM UNRELATED BUSINESS TAXABLE INCOME (UBTI) PURSUANT TO IRC SEC. 512(B) (3) AS ALL RENTAL INCOME IS FROM REAL PROPERTY. DUE TO THE NATURE OF CENTROVILLA25'S TAX-EXEMPT OPERATIONS, NO EXPENSES ARE DIRECTLY ALLOCATED TO RENTAL ACTIVITY. ALL EXPENSES RELATED TO REAL PROPERTY ARE SHOWN ON PART IX OF THE FORM 990 ALONG WITH OTHER EXPENDITURES. FORM 990, PART XI ADDITIONAL INFORMATION FOR PART XI, LN 9 - RELATED ENTITY THE NORTHEAST OHIO HISPANIC CENTER FOR ECONOMIC DEVELOPMENT ("NEOHCED") WAS ESTABLISHED PRIOR TO CENTROVILLA25 CORPORATION ("CV25"). UPON COMPLETION OF THE FIRST PHASE OF BUILDING CONSTRUCTION, NEOHCED RECORDED THE ASSETS ON ITS SEPARATELY FILED FORM 990. DURING THE CURRENT FISCAL YEAR, THE BUILDING AND ASSOCIATED ASSETS WERE TRANSFERRED TO THE FINANCIAL STATEMENTS FOR CV25, THE LEGALLY-NAMED TITLE HOLDER OF THE PROPERTY. CENTROVILLA25 CORPORATION IS THE QUALIFIED ACTIVE LOW-INCOME COMMUNITY BUSINESS ("QALICB") IN A NEW MARKETS TAX CREDITS PROGRAM ("NMTC") LEVERAGED-LOAN FINANCING STRUCTURE THAT CLOSED IN NOVEMBER 2023. THE NORTHEAST OHIO HISPANIC CENTER FOR ECONOMIC DEVELOPMENT ("NEOHCED"), A RELATED 501(C)(3) PARENT AFFILIATE OF THE CORPORATION, PARTICIPATES AS THE LEVERAGE LENDER IN THE NMTC STRUCTURE. CAPITAL ONE, NATIONAL ASSOCIATION ("CONA") SERVES AS THE TAX CREDIT INVESTOR AND AS SERVICER IN THE TRANSACTION. THE QUALIFIED LOW-INCOME COMMUNITY INVESTMENT ("QLICI") LOANS, IN AN AGGREGATE AMOUNT OF UP TO 9,975,000, WERE MADE TO THE CORPORATION BY CNMIF II 33, LLC (THE "QLICI LENDER") TO PARTIALLY FINANCE THE ACQUISITION, CONSTRUCTION, DEVELOPMENT, AND LEASING OF THE CORPORATION'S FACILITY AT 3140 WEST 25TH STREET, CLEVELAND, OHIO 44109. THE QLICI LOANS ARE TREATED AS QUALIFIED LOW-INCOME COMMUNITY INVESTMENTS FOR PURPOSES OF GENERATING NEW MARKETS TAX CREDITS UNDER SECTION 45D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. AT THE END OF THE SEVEN-YEAR COMPLIANCE PERIOD IN NOVEMBER 2030, CONA MAY EXERCISE ITS PUT OPTION WITH RESPECT TO ITS INTEREST IN THE NMTC INVESTMENT FUND, AFTER WHICH THE QLICI NOTES PAYABLE - INCLUDING THE 6,514,188 RELATED-PARTY INTERCOMPANY PORTION CARRIED AS A NOTE FROM NEOHCED ON THE CORPORATION'S BALANCE SHEET - MAY BE CANCELLED IN ACCORDANCE WITH THE NMTC UNWIND MECHANICS. UNTIL THAT DATE, THE NOTES ARE REFLECTED ON THE BALANCE SHEET AT THEIR CARRYING VALUE, AND THE INTERCOMPANY LEVERAGE-LOAN TRANSACTION WITH NEOHCED IS DISCLOSED ON SCHEDULE R, PART V. FORM 990, PART XI, LINE 9 AMORTIZATION 7,142 SEE SCH O ADD'L INFO FOR PART X 2,194,435 TOTAL 2,201,577 THE NORTHEAST OHIO HISPANIC CENTER FOR ECONOMIC DEVELOPMENT 3140 W 25TH ST CLEVELAND OH 44102 341805510 NONPROFIT OH 501C3 10 N/A false NORTHEAST OHIO HISPANIC CHAMBER OF COMMERCE 3140 W 25TH ST CLEVELAND OH 44109 341555659 NONPROFIT OH 501C3 10 N/A false false false false true false false false false false false false false true true false false false false false THE NORTHEAST OHIO HISPANIC CENTER FOR ECONOMIC DEVELOPMENT L 15630 COST THE NORTHEAST OHIO HISPANIC CENTER FOR ECONOMIC DEVELOPMENT E 68887 COST THE NORTHEAST OHIO HISPANIC CENTER FOR ECONOMIC DEVELOPMENT N NORTHEAST OHIO HISPANIC CHAMBER OF COMMERCE N THE NORTHEAST OHIO HISPANIC CENTER FOR ECONOMIC DEVELOPMENT E 6514188 LOAN CARRYING VALUE-NMTC