Form 990 for tax year 2024

Filed by TEAM NEO FOUNDATION.

Totals

Total revenue: $7,989,825
Total expenses: $8,018,224
Contributions and grants received: $7,284,854
Grants paid: $0
Program service revenue: $281,638
Investment income: $18,874
Other revenue: $404,459
Total assets, end of year: $3,868,429
Total liabilities, end of year: $1,818,157
Net assets or fund balances, end of year: $2,050,272
Program services expenses (Part IX): $6,831,580
Management and general expenses: $835,471
Fundraising expenses: $351,173
Program service expenses (Part III): $6,831,580

Program services were 85.2% 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.

1b · Membership dues

$3,856
1f · All other contributions, gifts and grants

$7,280,998
2a · Program service revenue: Sponsorships

total $244,832 · unrelated business $0 · excluded $0
2b · Program service revenue: Event Registrations

total $36,806 · unrelated business $0 · excluded $0
3 · Investment income

total $18,874 · unrelated business $0 · excluded $18,874
11a · Other revenue: Fee for Service/Accounting

total $54,099 · related or exempt $0 · unrelated business $54,099 · excluded $0
11b · Other revenue: Dept of Energy MAKE IT winner

total $350,000 · related or exempt $0 · unrelated business $0 · excluded $350,000
11d · All other revenue

total $360 · related or exempt $0 · unrelated business $0 · excluded $360
11e · Other revenue, total

$404,459

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $1,602,707 · program services $1,298,193 · management and general $208,352 · fundraising $96,162
7 · Other salaries and wages

total $2,881,084 · program services $2,329,218 · management and general $386,965 · fundraising $164,901
8 · Pension plan contributions

total $120,056 · program services $97,246 · management and general $15,607 · fundraising $7,203
9 · Other employee benefits

total $271,768 · program services $220,132 · management and general $35,330 · fundraising $16,306
10 · Payroll taxes

total $288,184 · program services $233,429 · management and general $37,464 · fundraising $17,291
11b · Fees: legal

total $3,446 · program services $0 · management and general $3,446 · fundraising $0
11c · Fees: accounting

total $31,000 · program services $25,110 · management and general $4,030 · fundraising $1,860
11g · Fees: other

total $920,571 · program services $867,300 · management and general $47,673 · fundraising $5,598
12 · Advertising and promotion

total $32,339 · program services $32,339 · management and general $0 · fundraising $0
13 · Office expenses

total $86,127 · program services $69,725 · management and general $11,300 · fundraising $5,102
14 · Information technology

total $144,493 · program services $118,321 · management and general $17,907 · fundraising $8,265
16 · Occupancy

total $113,999 · program services $92,153 · management and general $15,340 · fundraising $6,506
17 · Travel

total $226,670 · program services $204,534 · management and general $15,316 · fundraising $6,820
19 · Conferences, conventions and meetings

total $309,278 · program services $309,278 · management and general $0 · fundraising $0
22 · Depreciation, depletion and amortization

total $161,377 · program services $130,715 · management and general $20,979 · fundraising $9,683
23 · Insurance

total $15,229 · program services $12,335 · management and general $1,980 · fundraising $914
24a · Other expenses: Market Research

total $494,929 · program services $494,929 · management and general $0 · fundraising $0
24b · Other expenses: Memberships & Sponsorships

total $262,563 · program services $262,163 · management and general $400 · fundraising $0
24c · Other expenses: Company Site Visits

total $6,480 · program services $6,480 · management and general $0 · fundraising $0
24e · All other expenses

total $45,924 · program services $27,980 · management and general $13,382 · fundraising $4,562

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $698,133 · end of year $446,196
2 · Savings and temporary cash investments

beginning of year $101,486 · end of year $633,524
3 · Pledges and grants receivable

beginning of year $539,619 · end of year $340,834
4 · Accounts receivable

beginning of year $454,474 · end of year $629,462
9 · Prepaid expenses and deferred charges

beginning of year $225,553 · end of year $322,735
10a · Land, buildings and equipment: cost or other basis

$655,076
10b · Land, buildings and equipment: accumulated depreciation

$365,333
10c · Land, buildings and equipment, net

beginning of year $312,531 · end of year $289,743
15 · Other assets

beginning of year $1,294,727 · end of year $1,205,935
17 · Accounts payable and accrued expenses

beginning of year $288,786 · end of year $602,409
19 · Deferred revenue

beginning of year $31,500 · end of year $14,125
25 · Other liabilities

beginning of year $1,227,566 · end of year $1,201,623
27 · Net assets without donor restrictions

beginning of year $1,809,971 · end of year $1,855,977
28 · Net assets with donor restrictions

beginning of year $268,700 · end of year $194,295

Mission and programs · 2024

Mission

Team NEO Foundation enhances the economy of Northeast Ohio by collaborating with our partners and others to attract new businesses, help those that are here grow and accelerate the impact of innovation in the region. We also help bring together local, regional and state resources to raise the profile of the region and make the case of investment in Northeast Ohio, focusing on proven businesses that will contribute to the regions success. Our Board serves as the Regional Table for Business and Philanthropy around which challenges regarding economic competitiveness are identified, prioritized and advanced.

Activities or mission (Part I)

Team NEO Foundations mission is to enhance the economy of Northeast Ohio by collaborating with our Network Partners and others to attract new businesses, help those that are here grow and accelerate the impact of innovation in the region.

Growing our Diverse Industry Base - Leverage our deep supply chain and partner relationships across the regions diverse industry base to drive innovation, integrate technology, develop new markets and create equitable opportunity for a highly-trained workforce.

Expenses $4,450,819 · Revenue $157,726
Promote and Engage the Region - Telling stories, promoting assets and sharing data insights to advance Team NEO, lift our partners and improve Northeast Ohios regional competitiveness and prosperity.

Expenses $1,093,062
Grow a Pipeline of Competitive Sites - Impact the regional landscape through thoughtful commercial and industrial development in locations that are driving a competitive region and offering more equitable opportunities.

Expenses $567,869 · Revenue $48,400
Address the Talent Supply-Demand Gap - Growing regional talent alignment through better data and coordinated strategies.

Expenses $719,830 · Revenue $75,512

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Brendan Buescher

Director

Total calculated

$0

Hours/week

1
Frank Carrino

Director

Total calculated

$0

Hours/week

1
Christopher Bast

Director

Total calculated

$0

Hours/week

1
Dr Albert Green

Director

Total calculated

$0

Hours/week

1
Dr Marcia Ballinger

Director

Total calculated

$0

Hours/week

1
Michelle Moran

Director

Total calculated

$0

Hours/week

1
Jay Nordholt

Director

Total calculated

$0

Hours/week

1
Terrell Dillard

Director

Total calculated

$0

Hours/week

1
Mark Samolczyk

Director

Total calculated

$0

Hours/week

1
William Seelbach

Director

Total calculated

$0

Hours/week

1
Ward Timken Jr

Director

Total calculated

$0

Hours/week

1
Dr Michael Baston

Director

Total calculated

$0

Hours/week

1
Robert Davis

Director

Total calculated

$0

Hours/week

1
Ray Hexamer

Partner Director

Total calculated

$0

Hours/week

1
Tom Partridge

Director

Total calculated

$0

Hours/week

1
Gary Small

Director

Total calculated

$0

Hours/week

1
Kelly Lamirand

Director

Total calculated

$0

Hours/week

1
Guy Coviello

Partner Director

Total calculated

$0

Hours/week

1
Steve Millard

Partner Director

Total calculated

$0

Hours/week

1
Jeroen Diderich

Director

Total calculated

$0

Hours/week

1
Dr Todd Diacon

Director

Total calculated

$0

Hours/week

1
Bill Epling

Director

Total calculated

$0

Hours/week

1
Eric Logan

Director

Total calculated

$0

Hours/week

1
Kevin Martin

Director

Total calculated

$0

Hours/week

1
Marc Merklin

Director

Total calculated

$0

Hours/week

1
Ron Paydo

Director

Total calculated

$0

Hours/week

1
Glenn Richardson

Director

Total calculated

$0

Hours/week

1
Ariane Kirkpatrick

Director

Total calculated

$0

Hours/week

1
Carol Caruso

Director

Total calculated

$0

Hours/week

1
Rajiv Prasad

Director

Total calculated

$0

Hours/week

1
Baiju Shah

Partner Director

Total calculated

$0

Hours/week

1
Bethia Burke

Partner Director

Total calculated

$0

Hours/week

1
James Gasior

Director

Total calculated

$0

Hours/week

1
Charles George

Director

Total calculated

$0

Hours/week

1
Wendell Robinson Jr

Director

Total calculated

$0

Hours/week

1
Damian Thomas

Director

Total calculated

$0

Hours/week

1
Aaron Swartz

Director

Total calculated

$0

Hours/week

1
Daniel Weekley

Director

Total calculated

$0

Hours/week

1
Jodi Berg

Chair Emeritus

Total calculated

$0

Hours/week

2.5
Peter Broer

Chair Emeritus

Total calculated

$0

Hours/week

2.5
Kimberly Riley

Chair

Total calculated

$0

Hours/week

2.5
Allen Mistysyn

Vice Chair

Total calculated

$0

Hours/week

2.5
Don Taylor

Vice Chair

Total calculated

$0

Hours/week

2.5
Andy Jones

Secretary

Total calculated

$0

Hours/week

2.5
Doug Sibila

Treasurer

Total calculated

$0

Hours/week

2.5
William Koehler

CEO

Total calculated

$395,700

From this org

$367,773

From related orgs

$0

Other

$27,927

Hours/week

40

Schedule J breakdown matched by us

Base

$367,773

Bonus

$0

Other

$0

Deferred

$17,250

Nontaxable benefits

$10,677

Filer's total

$395,700
Laura Hudak

Asst Secr/Treas

Total calculated

$179,038

From this org

$168,540

From related orgs

$0

Other

$10,498

Hours/week

40

Schedule J breakdown matched by us

Base

$168,540

Bonus

$0

Other

$0

Deferred

$8,964

Nontaxable benefits

$1,534

Filer's total

$179,038
Christine Nelson

VP, Project Mgt, Site Strategies & Talent

Total calculated

$213,738

From this org

$185,512

From related orgs

$0

Other

$28,226

Hours/week

40

Schedule J breakdown matched by us

Base

$176,076

Bonus

$9,436

Other

$0

Deferred

$10,159

Nontaxable benefits

$18,067

Filer's total

$213,738
Steven Fritsch

VP, Industry Advancement & Engagement

Total calculated

$179,109

From this org

$170,582

From related orgs

$0

Other

$8,527

Hours/week

40

Schedule J breakdown matched by us

Base

$170,582

Bonus

$0

Other

$0

Deferred

$6,000

Nontaxable benefits

$2,527

Filer's total

$179,109
Jacob Duritsky

VP, Strategy and Research

Total calculated

$196,435

From this org

$175,969

From related orgs

$0

Other

$20,466

Hours/week

40

Schedule J breakdown matched by us

Base

$166,875

Bonus

$9,094

Other

$0

Deferred

$8,672

Nontaxable benefits

$11,794

Filer's total

$196,435
Dawn Southard

VP, Investor Relations

Total calculated

$179,832

From this org

$157,863

From related orgs

$0

Other

$21,969

Hours/week

40

Schedule J breakdown matched by us

Base

$140,316

Bonus

$17,547

Other

$0

Deferred

$8,422

Nontaxable benefits

$13,547

Filer's total

$179,832
Mark Owens

VP, Marketing & Communications

Total calculated

$187,767

From this org

$161,601

From related orgs

$0

Other

$26,166

Hours/week

40

Schedule J breakdown matched by us

Base

$161,601

Bonus

$0

Other

$0

Deferred

$8,418

Nontaxable benefits

$17,748

Filer's total

$187,767
Mindy McLaughlin

Managing Director, Global Business Development

Total calculated

$156,317

From this org

$141,825

From related orgs

$0

Other

$14,492

Hours/week

40

Schedule J breakdown matched by us

Base

$133,856

Bonus

$7,969

Other

$0

Deferred

$7,249

Nontaxable benefits

$7,243

Filer's total

$156,317
Walter Good

Managing Director, Project Management

Total calculated

$160,219

From this org

$143,047

From related orgs

$0

Other

$17,172

Hours/week

40

Schedule J breakdown matched by us

Base

$135,011

Bonus

$8,036

Other

$0

Deferred

$7,310

Nontaxable benefits

$9,862

Filer's total

$160,219
Bryce Sylvester

Senior Director, Site Strategies

Total calculated

$121,590

From this org

$109,837

From related orgs

$0

Other

$11,753

Hours/week

40
Renee Ligon

Senior Director, Partnerships & Engagement

Total calculated

$140,664

From this org

$119,695

From related orgs

$0

Other

$20,969

Hours/week

40
Sylvio Mecone

Senior Director, Business Development

Total calculated

$119,467

From this org

$102,582

From related orgs

$0

Other

$16,885

Hours/week

40

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

1a · Health or social club dues or initiation fees
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Compensation committee
3 · Form 990 of other organizations
3 · Written employment contract
3 · Compensation survey or study
3 · Approval by the board or compensation committee
7 · Other non-fixed payments

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
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
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Pt I Line 1a: William Koehlers monthly dues to the Union Club are paid by Team NEO. The benefit is not treated as taxable compensation as it is for business purposes only.
Pt I Line 7: Employees are eligible to receive additional compensation above their salary amount, based on individual and organizational performance, paid at the discretion of Team NEO. Approval by the Team NEO Board of Trustees is required.

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

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2024
Filed: 7 July 2025
IRS schema version: 2024v5.2
Source object: 202531889349300738

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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