Northeast Ohio Technology Coalition Inc

Nonprofit profile at a glance

EIN
341316549
IRS 990 coverage
2010–2014
Forms available
Form 990 2014
Location
Cleveland, OH, USA
Phone
2163636883
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$1,773,987
Expenses
$3,147,641
Assets
$416,171
Liabilities
$90,699

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

30 people listed

Executive titles in this filing

  • BAGLEY REBECCA O (PRESIDENT & CEO)

Highest reported compensation

  • BAGLEY REBECCA O (PRESIDENT & CEO): $511,092 total reported compensation
  • BRANCATO JEFFREY (VP-STRATEGIC ACCELERATION): $202,382 total reported compensation
  • CLAYTON BYRON (VP-CLUSTER ACCELERATION): $197,388 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Northeast Ohio technology coalition, inc. ("nortech") works to revitalize northeast Ohio by accelerating the growth of innovation clusters in the region's emerging industries. Nortech engages companies and colleges/universities for business, funding and research opportunities that create jobs, attract capital and have a long-term, economic impact. Nortech also promotes northeast Ohio as a hub of innovation to attract resources to the region.

What it reported doing in 2014

Advanced energy: northeast Ohio is home to more than 500 companies and organizations engaged in various advanced energy sectors and nortech has created a cluster initiative to stimulate the growth of the industry in the region. Its "inseven by nortech" roadmapping process has identified more than $50 billion in global market opportunities for northeast Ohio's energy storage, smart grid, waste/biomass to energy, fuel cell and energy efficiency sectors. Together, they could add approximately 9,560 jobs to the region within seven years. Serving as a focal point in the region's advanced energy cluster, nortech helps its members accelerate the commercialization of new products or technologies through industry-specific cluster services. These services include building cluster-based project teams, accessing industry-relevant project funding, and engaging anchor customers. Cluster metrics, including the number of jobs created, payroll generated and capital attracted, are used to guide the evolution of these services.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 90
  • Transparency & Controls: 74
  • Accountability: 91
  • Sustainability: 7
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 80%; rating input score 80
  • Fundraising efficiency: $23.06 raised per $1 spent on fundraising; rating input score 66; 66th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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; 64th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -77.4%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0.13; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 0.22; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 59.3%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -9% per year; rating input score 0; 18th percentile among comparable filings
  • Revenue growth: -24.8% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -28% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 80% of spending went to programs
  • Governance: 17 of 17 board members independent · 7 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $2.5M in reported program spending
  • Leadership: top reported pay $511K · 30 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 5 filing years from 2010 to 2014
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • 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 — Sustainability: Operating margin scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 38/100.