Fund For Our Economic Future Of Northeast Ohio
- Assets
- $8.2m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 8
- Location
- Cleveland, OH
- Founding
- 12/2009
- Data as of
- 12/2023
- EIN
- 27-0606927
Organization Overview
Fund For Our Economic Future Of Northeast Ohio is located in Cleveland, OH. The organization was established in 2009. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Fund For Our Economic Future Of Northeast Ohio employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fund For Our Economic Future Of Northeast Ohio is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Fund For Our Economic Future Of Northeast Ohio generated $5.2m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $6.6m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Fund For Our Economic Future Of Northeast Ohio has awarded 112 individual grants totaling $23,290,405. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
DEDICATED TO ADVANCING ECONOMIC GROWTH AND EQUITABLE ACCESS TO OPPORTUNITY FOR THE PEOPLE OF NORTHEAST OHIO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE OTHE FUND'S STRATEGY IS TO ADVANCE ECONOMIC GROWTH AND EQUITABLE ACCESS TO OPPORTUNITY FOR THE PEOPLE OF NORTHEAST OHIO BY ARTICULATING AND ADVANCING A REGIONAL AGENDA, EMPOWERING A LEADERSHIP NETWORK AND DEVELOPING STRATEGIC FUNDING TO ORGANIZATIONS WHICH SHOW THE GREATEST POTENTIAL FOR ADVANCING GROWTH AND OPPORTUNITY WITHIN THE 18-COUNTY NORTHEAST OHIO REGION.THE FOCUS IS ON FOUR CHARITABLE PRIORITIES:- JOB CREATION (ADD JOBS, COMBAT COMMUNITY DETERIORATION).- JOB PREPARATION (SKILL BUILDING FOR EMPLOYMENT, IMPROVEMENTS IN THE QUALITY OF JOBS).- JOB ACCESS (REDUCING GEOGRAPHIC BARRIERS BETWEEN PEOPLE AND JOBS BY BRINGING JOBS CLOSER TO PEOPLE AND PEOPLE CLOSER TO JOBS).- SYSTEMIC RACIAL INCLUSION (ADD JOBS, CONNECT PEOPLE TO JOBS, ELIMINATE NEIGHBORHOOD TENSION).
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Samolczyk Chair | OfficerTrustee | 1 | $0 |
William Gary Chair Emeritus | OfficerTrustee | 1 | $0 |
Adam Briggs 1st Vice Chair | OfficerTrustee | 1 | $0 |
Phoebe Lee 2nd Vice Chair | OfficerTrustee | 1 | $0 |
Christine Mayer Secretary | OfficerTrustee | 1 | $0 |
Denise Griggs Treasurer & Finance Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Compass Policy Strategies Project Consulting | 12/30/23 | $196,282 |
Sean Watterson Project Consulting | 12/30/23 | $119,750 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $100,000 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,595,250 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,384,417 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,079,667 |
| Total Program Service Revenue | $0 |
| Investment income | $120,141 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,222,809 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,998,434 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $303,403 |
| Compensation of current officers, directors, key employees. | $74,037 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $640,922 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $71,704 |
| Payroll taxes | $64,413 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,771 |
| Fees for services: Accounting | $43,092 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,062 |
| Fees for services: Other | $187,181 |
| Advertising and promotion | $0 |
| Office expenses | $3,990 |
| Information technology | $45,809 |
| Royalties | $0 |
| Occupancy | $63,496 |
| Travel | $14,509 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,397 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,583 |
| All other expenses | $9,641 |
| Total functional expenses | $6,625,364 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,043,926 |
| Savings and temporary cash investments | $811,102 |
| Pledges and grants receivable | $1,078,870 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,785 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,257,994 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,239 |
| Total assets | $8,199,916 |
| Accounts payable and accrued expenses | $102,827 |
| Grants payable | $615,048 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $717,875 |
| Net assets without donor restrictions | $5,732,057 |
| Net assets with donor restrictions | $1,749,984 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $8,199,916 |
Grants Awarded
Over the last fiscal year, Fund For Our Economic Future Of Northeast Ohio has awarded $1,095,709 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
CENTER FOR NEIGHBORHOOD TECHNOLOGY PURPOSE: JOB ACCESS | $125,000 |
ECONOMIC GROWTH FOUNDATION PURPOSE: JOB PREPARATION: $120,209; JOB CREATION: $98,000 | $218,209 |
NEW BRIDGE PURPOSE: JOB PREPARATION | $385,000 |
OHIO AEROSPACE INSTITUTE PURPOSE: JOB CREATION | $50,000 |
TEAM NEO PURPOSE: JOB ACCESS | $250,000 |
TECH BELT ENERGY INNOVATION CENTER PURPOSE: JOB CREATION | $7,500 |