Midtown Cleveland Inc

Nonprofit profile at a glance

EIN
341381334
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Cleveland, OH, USA
Phone
2163915080
Rating
83
Verdict
STRONG
Rating confidence
Standard
Sector
Urban, Community Economic Development

Official website

Reported finances

Revenue
$1,520,858
Expenses
$1,612,551
Assets
$4,049,297
Liabilities
$1,429,497

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

Leadership & pay

22 people listed

Executive titles in this filing

  • ASHLEY SHAW (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ASHLEY SHAW (EXECUTIVE DIRECTOR): $124,962 total reported compensation

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

Overview

Mission

Midtown cleveland, inc. Leverages its diverse assets to create a dynamic neighborhood that unites cleveland's downtown and innovation districts.

What it reported doing in 2024

Midtown cleveland, inc. Is a dynamic and high performing 501(c)(3) economic and community development corporation whose vision is of a connected community in the center of it all, an inclusive place for people to live, create, prosper and grow. Midtown has worked with strategic partners to usher in remarkable growth and transformation over the past several years, attracting more businesses, nonprofits, residents, and institutions to the neighborhood, stimulating development and helping change the area from a pass-through to a place with a tangible focus on community empowerment and equitable development. Midtown planned over 50 events and programs to build community, added public art to the neighborhood, provided support to individuals and businesses struggling during (continued on schedule o) covid, and continued to attract development to the neighborhood.

Operating model

Revenue model
Donor-supported. 65% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some related-organization disclosures are missing and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 87
  • Accountability: 100
  • Sustainability: 39
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78.8%; rating input score 79
  • Program expense ratio: 74%; rating input score 74
  • Fundraising efficiency: $13.22 raised per $1 spent on fundraising; rating input score 47; 47th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.4%; rating input score 94; 26th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 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: NotApplicable
    • 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%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 2.51; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0.35; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 7.7%; rating input score 44; 44th percentile among comparable filings

Growth

  • Program expense growth: 8.6% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 4.6% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: 1% per year; rating input score 100; 21st percentile among comparable filings

Details

  • Where the money goes: 78.8% of revenue deployed · 74% of spending went to programs
  • Governance: 21 of 21 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $125K · 22 people listed
  • Consistency: 34 of 35 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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 — Transparency & Controls: Related-party transparency scored 0/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 47/100.
  • High — Sustainability: Operating margin scored 22/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.
  • Moderate — Sustainability: Officer compensation ratio scored 44/100.