Cleveland Foundation Midtown Collaborati

Nonprofit profile at a glance

EIN
922553895
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Cleveland, OH, USA
Phone
2168613810
Rating
44
Verdict
MIXED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$8,644,535
Expenses
$308,984
Assets
$39,603,031
Liabilities
$28,258,835

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • RANDELL MCSHEPARD (DIRECTOR & VICE PRESIDENT)
  • LILLIAN KURI (DIRECTOR & PRESIDENT)

Highest reported compensation

  • LILLIAN KURI (DIRECTOR & PRESIDENT): $649,798 total reported compensation
  • ROSANNE POTTER (DIRECTOR & TREASURER): $477,731 total reported compensation
  • COURTNEY LEHMANN (SECRETARY): $95,010 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization is organized and operated exclusively for, and to advance the charitable, scientific, literary, artistic and educational purposes of the cleveland foundation.

What it reported doing in 2024

The corporation received a combination of land and cash from the cleveland foundation for the sole purpose of constructing on the land, owning, and leasing back to the cleveland foundation a collaboration and innovation center (collaboration center) in the midtown neighborhood of the city of cleveland. This activity advances the cleveland foundation's objective to transform and revitalize the midtown and adjacent city of cleveland neighborhoods.

Operating model

Revenue model
Affiliate-supported. 98% of the money available for current operations came from contributions from related organizations.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 65
  • Accountability: 86
  • Sustainability: 77
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 96.4%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 128.17; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.71; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 46.3%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 91.1% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 23.9% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $650K · 8 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.