HISTORIC GATEWAY NEIGHBORHOOD CORP… - Form 990 Financial Data

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1988

Legal Domicile

Principal Officer

MICHEAL DEEMER

Phone

2167711994

Tax Period

2023-01-01 to 2023-12-31

HISTORIC GATEWAY NEIGHBORHOOD CORPORATION, founded in 1988, is a small nonprofit that reported $184K in total revenue in fiscal year 2023. Expenses of $217K exceeded revenue, resulting in a 18% operating deficit.

Mission

TO PROMOTE THE CONTINUING RE-DEVELOPMENT OF A UNIQUE, HISTORIC DISTRICT IN DOWNTOWN CLEVELAND INTO A VIBRANT COMMERICAL, ENTERTAINMENT, AND RESIDENTIAL NEIGHBORHOOD.

Program Service Accomplishments

Program 1

Expenses: $42,309 Revenue: $29,052

PLANNING AND DEVELOPMENT - COMMUNITY DRIVEN URBAN PLANNING AND PLACEMAKING WORK THAT INCLUDES DEVELOPMENT, TECHNICAL ASSISTANCE TO BUSINESSES AND PROPERTY OWNERS/DEVELOPERS BASED ON THE...

PLANNING AND DEVELOPMENT - COMMUNITY DRIVEN URBAN PLANNING AND PLACEMAKING WORK THAT INCLUDES DEVELOPMENT, TECHNICAL ASSISTANCE TO BUSINESSES AND PROPERTY OWNERS/DEVELOPERS BASED ON THE IMPLEMENTATION OF THE COMMUNITY PLAN.

Program 2

Expenses: $75,003 Revenue: $51,501

HISTORIC PRESERVATION - TECHNICAL ASSISTANCE ON HISTORIC PRESERVATION FINANCING STRATEGIES FOR THE ADAPTIVE REUSE OF OLDER BUILDINGS. WORK INCLUDES THE HISTORIC CONSERVATION EASEMENT PROGRAM...

HISTORIC PRESERVATION - TECHNICAL ASSISTANCE ON HISTORIC PRESERVATION FINANCING STRATEGIES FOR THE ADAPTIVE REUSE OF OLDER BUILDINGS. WORK INCLUDES THE HISTORIC CONSERVATION EASEMENT PROGRAM. HERITAGE AND CULTURAL ADVOCACY THROUGH PROGRAMS AND ACTIVITIES LIKE TAKE A HIKE.

Program 3

Expenses: $40,386 Revenue: $27,732

AREA-WIDE MARKETING - PROMOTION OF THE BUSINESSES AND RESIDENTIAL PROPERTIES IN THE GATEWAY DISTRICT.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $52,324

Program Service Revenue $131,750

Investment Income $0

Other Revenue $305

TOTAL REVENUE $184,379

Expense Breakdown

Grants Paid $17,485

Salaries & Benefits $0

Fundraising Expenses $12,032

Program Expenses $192,315

Other Expenses $199,394

TOTAL EXPENSES $216,879

Year-over-Year Comparison

	2023	2022	Change
Revenue	$184,379	$193,529	0.0%
Expenses	$216,879	$199,341	+0.1%
Net Income	$-32,500	$-5,812	+4.6%

Key Indicators

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

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

Total Directors

$4,800

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KIRA HENNESSEY	PAST PRESIDENT	2.00	Director	$2,800	$0	$2,800
CHAD ARFONS	BOARD DEVELOPMENT CHAIR	2.00	Officer Director	$0	$0	$0
TODD BYRNS	TRUSTEE	2.00	Director	$0	$0	$0
JIM FOLK	TRUSTEE	2.00	Director	$0	$0	$0
MARCIE GILMORE	PRESIDENT	2.00	Officer Director	$0	$0	$0
JEFF GLEASON	TREASURER	2.00	Officer Director	$0	$0	$0
RICHARD SHEEHAN	SECRETARY	2.00	Officer Director	$0	$0	$0
KIRSTYN WILDEY	VICE PRESIDENT	2.00	Director	$0	$0	$0
CLIFTON HAWORTH	TRUSTEE	2.00	Director	$2,000	$0	$2,000
DOMINIQUE NELSON APR-CUR	TRUSTEE	2.00	Director	$0	$0	$0
LERESE PURNELL	TRUSTEE	2.00	Director	$0	$0	$0
DAVA RANGE	TRUSTEE	2.00	Director	$0	$0	$0
MICHAEL DEEMER	PRESIDENT & CEO	5.00	Officer	$0	$0	$0
EILEEN CASSIDY	VP & COO	5.00	Officer	$0	$0	$0
HEATHER HOLMES JAN-MAY	EXECUTIVE VICE PRESIDENT	5.00	Officer	$0	$0	$0
ED ECKART	SENIOR VP OF OPERATIONS	5.00	Officer	$0	$0	$0
AUDREY GERLACH	VP OF ECONOMIC DEVELOPMENT	5.00	Officer	$0	$0	$0
DAVE BLATE	VP OF FINANCE & ADMINISTRATION	5.00	Officer	$0	$0	$0

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	$184,379	$216,879	$1,170,939	$-32,500
2022	$193,529	$199,341	$1,162,944	$-5,812
2021	$417,979	$309,010	$1,325,599	$108,969
2020	$377,601	$318,287	$1,140,323	$59,314
2019	$352,073	$334,154	$1,061,983	$17,919
2018	$442,591	$292,157	$1,004,503	$150,434

HISTORIC GATEWAY NEIGHBORHOOD CORPORATION