Form 990 for tax year 2022

Totals

Total revenue

$3,200,828

Total expenses

$1,146,281

Contributions and grants received

$250

Grants paid

$1,046,274

Program service revenue

$1,432,405

Investment income

$0

Other revenue

$1,768,173

Total assets, end of year

$10,581,734

Total liabilities, end of year

$5,247,490

Net assets or fund balances, end of year

$5,334,244

Program services expenses (Part IX)

$1,046,274

Management and general expenses

$100,007

Fundraising expenses

$0

Program service expenses (Part III)

$1,046,274

Program services were 91.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Mission and programs · 2022

• Support of Evergreen Business Services, Inc. for operations including worker, board and management education and management assistance.

  Expenses $962,248

• Withheld by Nonprofiteer: this text may name a private individual.

  Expenses $53,100

• Employee training

  Expenses $27,207

• Feasibility study for Internet Service Provider (ISP) cooperative

  Expenses $3,719

• BIG for TFEO for acquisitions

• JP Morgan Chase Foundation

• NWF Start-Up expenses

• THE FUND FOR EMPLOYEE OWNERSHIPDuring 2017, much time and effort was spent in responding to a RFP from the Federal Home Loan Bank of San Francisco and the New World Foundation to receive a forgivable Program Related Investment (PRI) from their Quality Jobs Fund. The purpose of the award is to convert existing small business located in low-to-moderate income areas whose owner(s) want to retire to worker-owned businesses. In October 2017, we were one of three organizations awarded $5 million payable in five (5) tranches in the first round. The PRI documents were not finalized until April 2018. One million dollars of the award will be converted to a grant for every 100 created/retained jobs converted to worker-ownership. During 2019, The Kendeda Fund granted ECC $8 million over 4 years to further capitalize The Fund for Employee Ownership. Restricted use of $6,500,000 is for ECC to acquire and convert existing small businesses to employee owned business. Th

• Support of Green City Growers Cooperative for start-up operations including worker, board and management education and management assistance.

• Support of Evergreen Real Estate Corporation for new market tax credits.

• Evergreen Housing includes assistance with site inspections of the houses, providing the documentation worker-owners of their association need to apply, coordinating the housing and financial training needed to be completed prior to purchasing a house. The program is a joint program between Cleveland Housing Network & Evergreen Cooperative Corporation whereby Members can purchase a home primarily located in Greater University Circle, 0% interest, tax abatement, and the homes usually paid off within 5 years via payroll deductoin. At 12/31/17, 19 worker-owners purchased homes; eleven (11) were community re-entry, i.e. formerly in the penal system. Without this program, none of them would have had the opportunity to purchase a home.

As filed on the 2022 return. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

• Evergreen Business Services

  — no cash amount reported

• Evergreen Energy Solutions

  — no cash amount reported

• Green City Growers Cooperative

  — no cash amount reported

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Provenance

Return type

form_990

Tax year

2022

Filed

31 October 2023

IRS schema version

2022v5.0

Source object

202333139349302888

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