Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $19,800

• 1d · Related organizations

  $24,996

• 1e · Government grants (contributions)

  $570,000

• 1f · All other contributions, gifts and grants

  $1,083,830

• 2a · Program service revenue: SPORTS AWARDS

  total $1,189,963 · related or exempt $1,189,963

• 2b · Program service revenue: SPORTING EVENTS

  total $269,572 · related or exempt $269,572

• 2c · Program service revenue: LICENSE PLATE REV

  total $88,252 · related or exempt $88,252

• 3 · Investment income

  total $120,287 · excluded $120,287

• 8a · Fundraising events: gross income

  $95,388

• 8a · Fundraising events: contributions included on line 1c

  $19,800

• 8b · Fundraising events: direct expenses

  $59,833

• 8c · Net income from fundraising events

  total $35,555 · excluded $35,555

• 11a · Other revenue: SHARED SVCS REIMBURS.

  total $315,931 · related or exempt $315,931

• 11e · Other revenue, total

  $315,931

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $337,000 · program services $337,000

• 5 · Compensation of officers, directors and key employees

  total $1,367,556 · program services $964,391 · management and general $307,320 · fundraising $95,845

• 7 · Other salaries and wages

  total $877,555 · program services $623,720 · management and general $193,037 · fundraising $60,798

• 8 · Pension plan contributions

  total $11,391 · program services $6,990 · management and general $3,423 · fundraising $978

• 9 · Other employee benefits

  total $100,558 · program services $65,507 · management and general $27,262 · fundraising $7,789

• 10 · Payroll taxes

  total $128,504 · program services $85,797 · management and general $33,217 · fundraising $9,490

• 11b · Fees: legal

  total $21,542 · program services $11,428 · management and general $7,754 · fundraising $2,360

• 11c · Fees: accounting

  total $60,090 · program services $40,838 · management and general $13,418 · fundraising $5,834

• 11d · Fees: lobbying

  total $24,000 · program services $24,000

• 11f · Fees: investment management

  total $3,726 · management and general $3,726

• 11g · Fees: other

  total $244,959 · program services $213,710 · management and general $26,364 · fundraising $4,885

• 12 · Advertising and promotion

  total $87,770 · program services $75,678 · management and general $6,259 · fundraising $5,833

• 13 · Office expenses

  total $13,783 · program services $10,137 · management and general $2,815 · fundraising $831

• 16 · Occupancy

  total $120,292 · program services $93,295 · management and general $26,997

• 17 · Travel

  total $221,775 · program services $202,428 · management and general $14,424 · fundraising $4,923

• 22 · Depreciation, depletion and amortization

  total $18,746 · program services $15,965 · management and general $2,132 · fundraising $649

• 23 · Insurance

  total $67,215 · program services $37,252 · management and general $23,305 · fundraising $6,658

• 24a · Other expenses: EVENT EXPENSE

  total $728,313 · program services $728,054 · management and general $259

• 24b · Other expenses: BANK FEES

  total $47,878 · program services $32,650 · management and general $13,838 · fundraising $1,390

• 24c · Other expenses: ORGANIZATIONAL DEVELOPM

  total $20,008 · program services $14,852 · management and general $3,953 · fundraising $1,203

• 24d · Other expenses: BAD DEBTS

  total $17,197 · program services $16,350 · management and general $112 · fundraising $735

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,912,791 · end of year $4,222,482

• 4 · Accounts receivable

  beginning of year $1,197,362 · end of year $902,066

• 5 · Loans and receivables from officers and key people

  beginning of year $150,000 · end of year $175,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $274,986 · end of year $402,454

• 10a · Land, buildings and equipment: cost or other basis

  $82,864

• 10b · Land, buildings and equipment: accumulated depreciation

  $71,223

• 10c · Land, buildings and equipment, net

  beginning of year $17,173 · end of year $11,641

• 11 · Investments: publicly traded securities

  beginning of year $223,168 · end of year $236,775

• 15 · Other assets

  beginning of year $268,386 · end of year $193,539

• 17 · Accounts payable and accrued expenses

  beginning of year $494,665 · end of year $372,197

• 19 · Deferred revenue

  beginning of year $633,863 · end of year $700,246

• 25 · Other liabilities

  beginning of year $268,386 · end of year $193,901

• 27 · Net assets without donor restrictions

  beginning of year $2,375,529 · end of year $2,058,451

• 28 · Net assets with donor restrictions

  beginning of year $3,271,423 · end of year $2,819,162

The filer's explanations (Part III)

PART I, LINE 4B

NONQUALIFIED DEFERRED COMPENSATION PLAN: DAVID GILBERT, THE PRESIDENT AND CEO, PARTICIPATES IN A SUPPLEMENTAL NONQUALIFIED DEFERRED COMPENSATION PLAN. ALTHOUGH NOT YET VESTED, MR. GILBERT RECEIVED A CONTRIBUTION OF $133,333 DURING 2023, OF WHICH $66,667 IS AN EXPENSE FOR THE COMMISSION AND $66,666 IS AN EXPENSE FOR ANOTHER TAX-EXEMPT ORGANIZATION IN ACCORDANCE WITH THE ALLIANCE AGREEMENT BETWEEN THE ORGANIZATIONS.

PART II - PRESIDENT & CEO'S COMPENSATION:

THE COMPENSATION OF THE COMMISSION'S PRESIDENT AND CHIEF EXECUTIVE OFFICER IS DETERMINED BY INDIVIDUALS ON THE BOARD THAT ARE INDEPENDENT OF HIM. THE BOARD REVIEWS COMPENSATION PROVIDED TO OTHER SPORTS COMMISSIONS' CEO'S ACROSS THE COUNTRY AND COMPENSATION PROVIDED TO EXECUTIVES OF OTHER COMMUNITY NOT-FOR-PROFIT ORGANIZATIONS. IN ADDITION, DURING 2011, THE COMMISSION ENTERED INTO AN ALLIANCE AGREEMENT WITH ANOTHER TAX-EXEMPT ORGANIZATION THROUGH WHICH THE ORGANIZATIONS HAVE AGREED THAT THEY WILL SHARE CERTAIN EMPLOYEES, INCLUDING PRESIDENT AND CEO, DAVID GILBERT. A COMMITTEE COMPRISED OF BOARD MEMBERS FROM THE TWO ORGANIZATIONS REVIEWED THE PRESIDENT AND CEO'S COMPENSATION THAT EACH ORGANIZATION PAID. FOR FORM 990 REPORTING PURPOSES, THE PRESIDENT AND CEO'S COMPENSATION IS REPORTED AT THE GROSS AMOUNT TO AGREE WITH THE FORM W-2 ISSUED BY THE GREATER CLEVELAND SPORTS COMMISSION, WITH THE REIMBURSEMENT RECEIVED FROM THE OTHER ORGANIZATION REPORTED AS MISCELLANEOUS INCOME. THE REIMBURSEMENT OF COMPENSATION FROM THE OTHER ORGANIZATION FOR MR. GILBERT WAS $334,050. THE GREATER CLEVELAND SPORTS COMMISSION PAID MR. GILBERT TOTAL COMPENSATION OF $421,309, AFTER NETTING THE REIMBURSEMENT AND ADJUSTING FOR TIMING DIFFERENCES. THE TOTAL AMOUNT OF MISCELLANEOUS INCOME OF $315,931 SHOWN ON LINE 11A OF PART VIII OF FORM 990 CONSISTS OF THE AMOUNT PAID IN 2023 FOR MR. GILBERT'S COMPENSATION BY THE OTHER ORGANIZATION, WITH THE DIFFERENCE OF $18,119 ATTRIBUTABLE TO TIMING AND DEFERRED COMPENSATION.