Form 990 for tax year 2023

Totals

Total revenue

$4,825,347

Total expenses

$4,682,632

Contributions and grants received

$3,548,234

Grants paid

$0

Program service revenue

$1,236,214

Investment income

$40,899

Other revenue

$0

Total assets, end of year

$12,747,580

Total liabilities, end of year

$916,096

Net assets or fund balances, end of year

$11,831,484

Program services expenses (Part IX)

$4,565,830

Management and general expenses

$116,802

Fundraising expenses

$0

Program service expenses (Part III)

$4,565,830

Program services were 97.5% 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 · 2023

• Equity and Inclusion:Our focus is on promoting diversity across all levels of enterprises, from team members to executives and ownership. We collaborate with partners to support the growth of minority-owned businesses by providing access to customer opportunities and specialized advisory services. We also work to increase diversity in medium and high-wage roles by removing barriers, sharing best practices for creating inclusive environments, and developing mentorship networks. Additionally, we promote digital equity through initiatives such as device donations, affordable broadband access, and digital literacy support for all residents. The following outlines our key priorities: Grow minority business enterprises through advisory services and access to customers: Grow minority business enterprises boosts job creation within communities, creating employment opportunities and supporting local economies. This is crucial for the development of our region. In 2023, we received significant positive news regarding minority businesses: Cleveland allocated $10 million to enhance minority participation in the construction sector, and the U.S. Secretary of Commerce praised Greater Cleveland Partnership's minority business development center, which serves over 150 companies.Expand diversity in senior and mid-level leadership positions: Diverse leadership teams bring a variety of perspectives, experiences, and problem-solving approaches, leading to more informed and balanced decision-making. Our region was committed to diversity and inclusion to attract top talent from various backgrounds and retain high-quality employees. Forbes America recognized 10 companies in the area as the Best Employers for Diversity. Also, Greater Cleveland companies' board of directors' diversity exceeds national trends.Ensure digital equity through device donations, affordable broadband access and support: Digital equity ensures that all individuals, regardless of their socioeconomic status, have access to the same opportunities for education, employment, and personal development. Without it, those without adequate access to technology are at a disadvantage. In 2023, City, county, state, and foundation partners invested $80 million to expand broadband access. Ensuring digital equity is essential for creating a more equitable and inclusive society, where everyone has the tools and opportunities to succeed in the digital age.

  Expenses $2,044,736 · Revenue $1,203,714

• Talent:Dynamic businesses require a steady supply of talent to thrive. Our focus is on work-based learning for both current and future job markets. We collaborate with partners to boost enrollments and completions in degree and certificate programs for growth sectors, and to enhance internships, apprenticeships, and co-op opportunities through industry-led partnerships with educational institutions and training providers. Additionally, we aim to increase career awareness among high school students through exposure and placement programs that create clear pathways to employment.Increase degree and certificate completions and retain graduates: Our region has seen a net increase in college-educated individuals over the past six years. A more educated workforce often leads to increased innovation and productivity, driving economic development and attracting higher-value industries. Expand internships, apprenticeships, co-ops and tech credentials: Summer in the Land is a community initiative and series of events aimed at showcasing and celebrating the vibrancy of Greater Cleveland during the summer months. It typically includes a variety of activities designed to engage residents and visitors, promote local businesses, and highlight the region's cultural, recreational, and social offerings. Summer in the Land attracts over 1,000 interns from 300+ companies.Broaden career awareness among high school students through exposure programs: Early career exposure helps students, and their families plan for post-secondary education and career paths, making the transition from high school to higher education or the workforce smoother and more strategic. Also, by learning about different professions and industries early, students can start developing relevant skills and interests, aligning their education with their career aspirations. As a result, in 2023, Ohio's budget features the largest increases ever recorded for college aid and technical career training.

  Expenses $1,948,645 · Revenue $25,000

• Innovation:A thriving region relies on vibrant businesses. We drive growth and innovation across companies of all sizes by collaborating with partners to offer growth incentives, real estate opportunities, and talent solutions. We support small and mid-sized businesses by providing access to funding, cost-saving benefits, and opportunities for networking and idea exchange. Additionally, we boost innovation for start-ups, corporations, and research institutions, including federal facilities, through targeted sector strategies, partnerships, and increased funding.Innovation Initiatives: Through the Cleveland Innovation Project, the region has enhanced sector initiatives in smart and sustainable manufacturing, life sciences, and water tech and enabling initiatives to grow venture capital and innovation corridors.

  Expenses $418,055 · Revenue $7,500

• The Great Lakes Metro Chamber Coalition is a collective of chambers of commerce across the Great Lakes region that jointly advocate on core policy issues, including water quality, immigration reform, trade, and transportation and infrastructure. EGF is a founding member of this coalition. The organization continues to staff and lead the coalition's work.

  Expenses $88,205

• Attractive communities are essential for drawing in and keeping vibrant businesses and talented individuals. Our priority is creating a next-generation appeal for working, living, and playing in Greater Cleveland. We collaborate with partners to enhance our downtown and waterfront areas through interconnected and inclusive developments in residential, commercial, and public spaces. We also invest in neighborhoods, focusing on both residential growth and commercial corridor development, ensuring they are supported by accessible and efficient transit. Additionally, we advocate for resources to expand amenities such as parks, arts and culture, sports, and other recreational activities. Recognizing the economic and social benefits of strong air services, we work closely with the city of Cleveland and other organizations to enhance air travel options for both business and leisure.Enhance downtown and waterfronts: In 2023, we continued to partner with the Mayor of the City of Cleveland and his administration to lead a planning process to redevelop the Downtown Cleveland Lakefront. City reveals North Coast Master Plan for lakefront and enters into an agreement for riverfront development.Expand recreational amenities including parks, arts and culture, and sports: GCP serves as a catalyst and advocate for maintaining and enhancing the region's vibrant array of arts and culture, parks and trails, sports and entertainment, and air services. These offerings contribute to a high quality of life and play a key role in attracting businesses and talent to the area.

  Expenses $66,189

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

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. 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

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.

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 Partnership

  501(c)(6) · Mobilizes Private Sector leadership, expertise, and resources to create jobs · OH

• Cleveland Development Foundation

  501(C)(3) · Developing and improving Cleveland's Civic Visions. · OH · controlled entity

  Directly controlled by Greater Cleveland Partnership

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

2023

Filed

13 November 2024

IRS schema version

2023v5.1

Source object

202433199349316703

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