SPORTS EVENT DEVELOPMENT FUND (EIN 270531612) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2008

Legal Domicile

Principal Officer

DAVID GILBERT

Phone

2166210600

Tax Period

2023-01-01 to 2023-12-31

SPORTS EVENT DEVELOPMENT FUND, founded in 2008, is a small nonprofit in the Community Improvement sector that reported $460K in total revenue in fiscal year 2023. Revenue fell 55% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $433K, a strong 94% operating margin.

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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $337,000

Program Service Revenue $0

Investment Income $123,447

Other Revenue $0

TOTAL REVENUE $460,447

Expense Breakdown

Grants Paid $24,996

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $24,996

Other Expenses $2,700

TOTAL EXPENSES $27,696

Year-over-Year Comparison

	2023	2022	Change
Revenue	$460,447	$1,024,585	-0.6%
Expenses	$27,696	$527,653	-0.9%
Net Income	$432,751	$496,932	-0.1%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$755,359

Total Directors

$755,359

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DOUG NEARY	SECRETARY	1.00	Officer Director	$0	$0	$0
JEFF FRIEDMAN	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
FRED DISANTO	TREASURER	1.00	Officer Director	$0	$0	$0
MIKE GIBBONS	VICE CHAIR	1.00	Officer Director	$0	$0	$0
DAVID GILBERT	PRESIDENT	1.00	Officer Director	$0	$168,206	$755,359

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$460,447	$27,696	$3,456,636	$432,751
2022	$1,024,585	$527,653	$2,904,562	$496,932
2021	$130,599	$681,587	$2,638,721	$-550,988
2020	$139,032	$14,050	$3,187,709	$124,982
2019	$212,952	$427,200	$3,062,727	$-214,248
2018	$332,937	$287,509	$3,277,197	$45,428

SPORTS EVENT DEVELOPMENT FUND