Sports Event Development Fund

Nonprofit profile at a glance

EIN
270531612
IRS 990 coverage
2014–2024
Forms available
Form 990 2024, Form 990-EZ 2013
Location
Cleveland, OH, USA
Phone
2166210600
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$1,472,791
Expenses
$654,495
Assets
$4,337,530
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • DAVID GILBERT (PRESIDENT)

Highest reported compensation

  • DAVID GILBERT (PRESIDENT): $761,964 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 sports event development fund supports the greater cleveland sports commission and its mission to measurably improve the economy of greater cleveland and enrich the community by attracting, creating, managing and enhancing significant sporting and competitive events.

What it reported doing in 2024

The organization supports the operations and furthers the exempt purposes of the greater cleveland sports commission, which attracts amateur and professional sporting events to cleveland and northeastern Ohio. The greater cleveland sports commission is a section 501(c)(3) tax-exempt organization which attracts significant sporting events and activities to cleveland and northeast Ohio.

Operating model

Revenue model
Affiliate-supported. 90% of the money available for current operations came from contributions from related organizations.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 71
  • Accountability: 95
  • Sustainability: 82
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 50.5%; rating input score 51
  • Program expense ratio: 99.6%; rating input score 100
  • 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: 100%; rating input score 100; 76th percentile among comparable filings
  • 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: 55.6%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 6.63; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 29.1%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 23.7% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: 19.3% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 15.9% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 50.5% of revenue deployed · 99.6% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $652K in reported program spending
  • Leadership: top reported pay $762K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 10 filing years from 2014 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.

  • Review — Financial Efficiency: Mission deployment rate scored 51/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 7/100.