Totals
- Total revenue
- $460,447
- Total expenses
- $27,696
- Contributions and grants received
- $337,000
- Grants paid
- $24,996
- Program service revenue
- $0
- Investment income
- $123,447
- Other revenue
- $0
- Total assets, end of year
- $3,456,636
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $3,456,636
- Program services expenses (Part IX)
- $24,996
- Management and general expenses
- $2,700
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $24,996
Program services were 90.3% 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.
Revenue
Part VIII, the statement of revenue.
-
1d · Related organizations
$337,000
-
3 · Investment income
total $114,296 · excluded $114,296
-
7a · Gross sales of assets other than inventory
securities $9,151
-
7b · Less cost or other basis and sales expenses
securities $0
-
7c · Gain or loss
securities $9,151
-
7d · Net gain or loss
total $9,151 · excluded $9,151
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $24,996 · program services $24,996
-
11c · Fees: accounting
total $2,500 · management and general $2,500
-
24a · Other expenses: REGIS.&SERV.FEES
total $200 · management and general $200
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $38,699 · end of year $11,017
-
11 · Investments: publicly traded securities
beginning of year $2,865,863 · end of year $3,445,619
-
27 · Net assets without donor restrictions
beginning of year $2,404,562 · end of year $2,956,636
-
28 · Net assets with donor restrictions
beginning of year $500,000 · end of year $500,000
Mission and programs · 2023
Mission
THE SPORTS EVENT DEVELOPMENT FUND SUPPORTS THE GREATER CLEVELAND SPORTS COMMISSION AND ITS MISSION TO MEASURABLY IMPROVE THE ECONOMY OF GREATER CLEVELAND AND ENRICH THE COMMUNITY BY ATTRACTING, CREATING, MANAGING AND ENHANCING SIGNIFICANT SPORTING AND COMPETITIVE EVENTS.
-
THE ORGANIZATION SUPPORTS THE OPERATIONS AND FURTHERS THE EXEMPT PURPOSES OF THE GREATER CLEVELAND SPORTS COMMISSION, WHICH ATTRACTS AMATEUR AND PROFESSIONAL SPORTING EVENTS TO CLEVELAND AND NORTHEASTERN OHIO. THE GREATER CLEVELAND SPORTS COMMISSION IS A SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION WHICH ATTRACTS SIGNIFICANT SPORTING EVENTS AND ACTIVITIES TO CLEVELAND AND NORTHEAST OHIO.
Expenses $24,996 · Grants $24,996
As filed on the 2023 return.
Listed in Part VII
-
Doug NearyDOUG NEARY
SECRETARY
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Jeff FriedmanJEFF FRIEDMAN
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Fred DisantoFRED DISANTO
TREASURER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Mike GibbonsMIKE GIBBONS
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
David GilbertDAVID GILBERT
PRESIDENT
- Total calculated
- $755,359
- From this org
- $0
- From related orgs
- $587,153
- Other
- $168,206
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $463,226 related
- Bonus
- $0 + $120,000 related
- Other
- $0 + $3,927 related
- Deferred
- $0 + $140,833 related
- Nontaxable benefits
- $0 + $27,373 related
- Filer's total
- $0 + $755,359 related
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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 4B
- NONQUALIFIED DEFERRED COMPENSATION PLAN: DAVID GILBERT, PRESIDENT, PARTICIPATES IN A SUPPLEMENTAL NONQUALIFIED DEFERRED COMPENSATION PLAN SPONSORED BY GREATER CLEVELAND SPORTS COMMISSION. ALTHOUGH NOT YET VESTED, MR. GILBERT RECEIVED A CONTRIBUTION OF $133,333 DURING 2023, OF WHICH $66,667 IS AN EXPENSE FOR GREATER CLEVELAND SPORTS COMMISSION AND $66,666 IS AN EXPENSE FOR AN UNRELATED TAX-EXEMPT ORGANIZATION IN ACCORDANCE WITH THE ALLIANCE AGREEMENT BETWEEN THE ORGANIZATIONS.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
GENERAL SUPPORT
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
GREATER CLEVELAND SPORTS COMMISSION
501 (C)(3) · SPORTS COMM. · OH
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 5 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202433209349314818
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