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Nonprofiteer
← FUND FOR OUR ECONOMIC FUTURE OF NORTHEAST OHIO

Form 990 for tax year 2022

Filed by FUND FOR OUR ECONOMIC FUTURE OF NORTHEAST OHIO.

Totals

Total revenue
$7,638,594
Total expenses
$6,922,950
Contributions and grants received
$7,637,539
Grants paid
$5,445,333
Program service revenue
$0
Investment income
$75
Other revenue
$980
Total assets, end of year
$9,584,992
Total liabilities, end of year
$700,396
Net assets or fund balances, end of year
$8,884,596
Program services expenses (Part IX)
$6,369,151
Management and general expenses
$400,060
Fundraising expenses
$153,739
Program service expenses (Part III)
$6,369,151

Program services were 92.0% 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.

  • 1f · All other contributions, gifts and grants

    $7,637,539

  • 3 · Investment income

    total $75 · excluded $75

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: OTHER INCOME

    total $980 · related or exempt $980

  • 11e · Other revenue, total

    $980

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,445,333 · program services $5,445,333

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $351,084 · program services $222,561 · management and general $99,478 · fundraising $29,045

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $355,341 · program services $259,608 · management and general $82,371 · fundraising $13,362

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $34,645 · program services $24,378 · management and general $8,746 · fundraising $1,521

  • 10 · Payroll taxes

    total $46,242 · program services $31,608 · management and general $11,893 · fundraising $2,741

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $7,217 · program services $4,388 · management and general $2,323 · fundraising $506

  • 11c · Fees: accounting

    total $38,216 · program services $20,664 · management and general $11,619 · fundraising $5,933

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $365,404 · program services $175,409 · management and general $105,223 · fundraising $84,772

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $5,851 · program services $3,557 · management and general $1,883 · fundraising $411

  • 14 · Information technology

    total $22,931 · program services $12,036 · management and general $6,876 · fundraising $4,019

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $63,941 · program services $38,874 · management and general $20,580 · fundraising $4,487

  • 17 · Travel

    total $8,032 · program services $4,883 · management and general $2,585 · fundraising $564

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $4,617 · program services $2,807 · management and general $1,486 · fundraising $324

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $9,138 · program services $5,556 · management and general $2,941 · fundraising $641

  • 24a · Other expenses: COMMUNICATIONS

    total $128,896 · program services $97,843 · management and general $31,053

  • 24b · Other expenses: PROFESSIONAL DEVELOPMENT

    total $22,221 · program services $11,231 · management and general $6,548 · fundraising $4,442

  • 24c · Other expenses: MEALS & ENTERTAINMENT

    total $5,718 · program services $3,477 · management and general $1,840 · fundraising $401

  • 24d · Other expenses: MISCELLANEOUS

    total $2,649 · program services $1,610 · management and general $853 · fundraising $186

  • 24e · All other expenses

    total $5,474 · program services $3,328 · management and general $1,762 · fundraising $384

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,749,176 · end of year $6,193,340

  • 2 · Savings and temporary cash investments

    beginning of year $250,000 · end of year $1,256,318

  • 3 · Pledges and grants receivable

    beginning of year $1,053,984 · end of year $2,124,818

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,462 · end of year $6,277

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $4,239 · end of year $4,239

  • 17 · Accounts payable and accrued expenses

    beginning of year $76,861 · end of year $189,348

  • 18 · Grants payable

    beginning of year $818,048 · end of year $511,048

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $6,098,120 · end of year $5,528,995

  • 28 · Net assets with donor restrictions

    beginning of year $2,070,832 · end of year $3,355,601

Mission and programs · 2022

Mission

THE FUND FOR OUR ECONOMIC FUTURE IS A CREATIVE SPACE FOR PHILANTHROPIC FUNDERS AND CIVIC LEADERS TO EXPLORE WHAT MATTERS AND IMPLEMENT WHAT WORKS TO ACHIEVE EQUITABLE ECONOMIC GROWTH, EMPHASIZING SYSTEMIC, LONG-TERM CHANGE.

Activities or mission (Part I)

DEDICATED TO ADVANCING ECONOMIC GROWTH AND EQUITABLE ACCESS TO OPPORTUNITY FOR THE PEOPLE OF NORTHEAST OHIO.

  • Fund program services are as follows: 1.Growth and Opportunity Grants: Organizations advancing job creation, job preparation, and job access for Northeast Ohio. 2. Regional Strategy Development: Support for a shared regional economic competitiveness strategy that strengthens equitable growth and opportunity. 3. Civic understanding of growth and opportunity, including community engagement and measurement and research grants.

    Expenses $6,369,151 · Grants $5,445,333

As filed on the 2022 return.

Listed in Part VII

  • Bethia Burke Cullis

    PRESIDENT

    Total calculated
    $290,455
    From this org
    $272,991
    From related orgs
    $0
    Other
    $17,464
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $259,666
    Bonus
    $13,325
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $17,464
    Filer's total
    $290,455

  • Bishara Addison

    Dir of workforce innovation

    Total calculated
    $109,364
    From this org
    $107,444
    From related orgs
    $0
    Other
    $1,920
    Hours/week
    37.5

  • Erskine Bevel

    DIRECTOR OF FINANCE

    Total calculated
    $45,021
    From this org
    $42,422
    From related orgs
    $0
    Other
    $2,599
    Hours/week
    37.5

  • Jonathan Floyd

    DIRECTOR OF FINANCE

    Total calculated
    $15,609
    From this org
    $15,194
    From related orgs
    $0
    Other
    $415
    Hours/week
    37.5

  • Cynthia Andrews

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Emily Thome

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • John Petures Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Vikki Broer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Daniel Hampu

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Paul Herdeg

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mark J Samolczyk

    CHAIR EMERITUS

    Total calculated
    $0
    Hours/week
    1

  • William Gary

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Baiju Shah

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Adam A Briggs

    FIRST VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Denise Griggs

    TREASURER & FINANCE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • David Ford

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Patrick Kelly

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Roller

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Marcia Ballinger

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Karen L Hooser

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Susanna Krey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • William Seelbach

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jani Groza

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ray Leach

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Christine Mayer

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Jim Petras

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Cathy Belk

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Eric Clark

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Lisa Camp

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Meredith Gadsby

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Phoebe Lee

    SECOND VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Ricardo Leon

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Shari Harrell

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Teresa Legrair

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Tim Tramble

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Trevelle Harp

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Horace Johnson III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Victor Ruiz

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Yentil Rawlinson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Deborah Hoover

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Tania Menesse

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Alesha Washington

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

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

  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Sch J, Part I, Line 4a
Jonathan Floyd received severance pay of $10,250 in 2022.

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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
7 November 2023
IRS schema version
2022v5.0
Source object
202333149349302778

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

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