Greater Cleveland Partnership

What it reported doing in 2024

Business Innovation & Growth: A thriving regional economy depends on the strength of its business community. Our focus is on driving growth through productivity, innovation, and strategic support for businesses of all sizes. We work alongside partners to promote business expansion by connecting companies to growth incentives, real estate solutions, and workforce strategies. For small and mid-sized firms, we offer access to capital, cost-saving programs, and opportunities to build networks and share ideas. We accelerate innovation across startups, established companies, and research institutions through targeted sector strategies, cross-sector collaboration, and increased funding to fuel new technologies and commercialization.Innovation Initiatives: In 2024, GCP supported major innovation alliances including the NEO-Smart NSF Engines and Polymer Tech Hub efforts that connect industry and institutions. GCP continues to lead efforts to grow NASA Glenn through advocacy and community partnerships. In addition, GCP continued to lead a group of 50 company and institutional sustainability leaders focused on innovations and operations, hosting quarterly events, an energy working group, and organizing an annual Sustainability Summit with over 400 business attendees.Promote business expansions and site readiness: In 2024, GCP advocated for funds for site development and brownfield remediation. In addition, it supported Team NEO and JobsOhio initiatives for business expansion and attraction in the region.Grow small and middle-market enterprises by connecting them to business building resources, funding opportunities and cost-saving benefits: As the small business division of the Greater Cleveland Partnership, the Council of Smaller Enterprises (COSE) has supported and advocated for entrepreneurs and small business owners for over 50 years. Members benefit from cost-saving programs, educational resources, networking opportunities, and personalized navigation to the tools and funding they need to grow. COSE also serves as a strong voice for small business interests, working to ensure a supportive policy environment for local enterprises. Small and mid-sized companies are a cornerstone of the regional economy, driving job creation, innovation, and neighborhood vitality. In 2024, COSE built a Resource Hub for entrepreneurs, launched network groups for food, construction, and arts businesses, and continued to foster entrepreneurial success through its signature program, Cleveland Chain Reaction, a small business pitch competition that connects entrepreneurs with capital, mentorship, and community exposure. Now in its seventh season, the initiative remains a powerful engine for economic inclusion and growth in Cleveland's emerging neighborhoods.

Financial Efficiency

• Mission deployment rate: Limited
• Program expense ratio: Limited
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -6.9%; rating input score 14; 14th percentile among comparable filings
• Total-asset coverage ratio: 1.95; rating input score 61; 61st percentile among comparable filings
• Liabilities to assets ratio: 0.2; rating input score 58; 58th percentile among comparable filings
• Officer compensation ratio: 20.2%; rating input score 4; 4th percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: -0.7% per year; rating input score 0; 6th percentile among comparable filings
• Asset growth: 1% per year; rating input score 100; 14th percentile among comparable filings