Team Neo Foundation

Organization Overview

Team Neo Foundation is located in Cleveland, OH. The organization was established in 2000. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Team Neo Foundation employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Team Neo Foundation 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 12/2021, Team Neo Foundation generated $6.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $6.5m during the year ending 12/2021. While expenses have increased by 1.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TEAM NEO FOUNDATION'S MISSION IS TO ENHANCE THE ECONOMY OF NORTHEAST OHIO BY COLLABORATING WITH OUR NETWORK PARTNERS AND OTHERS TO ATTRACT NEW BUSINESSES, HELP THOSE THAT ARE HERE GROW AND ACCELERATE THE IMPACT OF INNOVATION IN THE REGION.

Describe the Organization's Program Activity:

ADVANCING TECHNOLOGY ADOPTION - WE ARE BUILDING REGIONAL INNOVATION CLUSTERS BY CONNECTING COMPANIES, ACADEMIC AND RESEARCH INSTITUTIONS WITH OPPORTUNITIES TO COLLABORATE AND TAKE ADVANTAGE OF NEW TECHNOLOGIES SUCH AS ADDITIVE AND SMART MANUFACTURING THAT BUILD ON THE INDUSTRIAL, ORGANIZATIONAL AND WORKFORCE STRENGTHS OF THE REGION. THESE CLUSTERS ENCOURAGE TECHNOLOGY ADOPTION NECESSARY TO DRIVE GROWTH AND IMPROVE THE COMPETITIVENESS OF NORTHEAST OHIO COMPANIES, WHILE ALSO INTRODUCING COMPANIES OUTSIDE THE REGION TO DEEP MANUFACTURING SUPPLY CHAIN THAT EXISTS HERE.


PROMOTE TEAM NEO, THE REGION AND NETWORK PERFORMANCE - TEAM NEO OFFERS LOCAL PARTNERS A BIGGER, MORE POWERFUL PLATFORM TO HIGHLIGHT THE MERITS OF INVESTING IN NORTHEAST OHIO BY HIGHLIGHTING UNIQUE STRENGTHS AND ECONOMIC ATTRIBUTES OF EACH MARKET, WHILE ARTICULATING THE VALUE OF BEING A PART OF THE LARGER NORTHEAST OHIO REGION, INCLUDING OUR CRITICAL MASS AS ONE REGION WITH ITS INTEGRATED SUPPLY CHAINS, 2 MILLION WORKERS, 20-PLUS COLLEGES AND UNIVERSITIES, ETC. WE BELIEVE THIS APPROACH MAKES INVESTING IN NORTHEAST OHIO A COMPELLING ALTERNATIVE IN COMPARISON TO OTHER WELL-KNOWN LOCATIONS.


STRENGTHENED, BETTER COORDINATED REGIONAL NETWORK - AS THE JOBS OHIO NETWORK PARTNER, TEAM NEO ALIGNS AND AMPLIFIES LOCAL ECONOMIC DEVELOPMENT EFFORTS IN NORTHEAST OHIO'S 18 COUNTY REGION TO CREATE JOBS AND BUILD A MORE ROBUST ECONOMY.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$6,222,211
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$6,222,211
Total Program Service Revenue$113,527
Investment income $321
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 $6,381,649

Grants Recieved

Over the last fiscal year, we have identified 9 grants that Team Neo Foundation has recieved totaling $556,490.

Awarding OrganizationAmount
Fund For Our Economic Future Of Northeast Ohio

Cleveland, OH

PURPOSE: JOB ACCESS

$225,000
Timken Foundation Of Canton

Canton, OH

PURPOSE: TWO-YEAR OPERATING SUPPORT

$125,000
Sherwin-Williams Foundation

Cleveland, OH

PURPOSE: CIVIC & OTHER COMMUNITY DEVELOPMENT

$100,000
Westfield Insurance Foundation

Westfield Center, OH

PURPOSE: GENERAL DONATION

$35,000
Stark Community Foundation Inc

Canton, OH

PURPOSE: PROGRAM SUPPORT

$21,800
Aultman Health Foundation

Canton, OH

PURPOSE: TEAM NEO 2021 INVESTMENT PARTNER COMMITMENT

$17,500
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$303,106
Net Contributions$120,000
Other Expense$178,106
Ending Balance$245,000

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