GATEWAY ECONOMIC DEVELOPMENT CORPORATION OF GREATER CLEVELAND

EIN: 341650917 501(c)(3) Community Improvement

CLEVELAND, OH

Total Revenue
$82,302,277
Total Expenses
$51,929,777
Total Assets
$429,804,499
Net Assets
$105,779,592
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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
1990
Legal Domicile
OH
Principal Officer
TODD GREATHOUSE
Phone
2164204071
Tax Period
2023-01-01 to 2023-12-31

GATEWAY ECONOMIC DEVELOPMENT CORPORATION OF GREATER CLEVELAND, founded in 1990, is a mid-sized nonprofit in the Community Improvement sector that reported $82.3M in total revenue in fiscal year 2023. Revenue surged 156% from the prior year, signaling strong growth momentum. The organization ran a surplus of $30.4M, a strong 37% operating margin.

Mission

PROMOTE ECONOMIC DEVELOMENT IN ORDER TO PREVENT THE CONDITIONS OF BLIGHT AND DETERIORATION HISTORICALLY EXISTING IN THE AREA.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $78,960,009
Investment Income $13,641
Other Revenue $3,328,627
TOTAL REVENUE $82,302,277

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,383,226
Fundraising Expenses $0
Program Expenses $51,229,857
Other Expenses $50,546,551
TOTAL EXPENSES $51,929,777

Year-over-Year Comparison

2023 2022 Change
Revenue $82,302,277 $32,203,082 +1.6%
Expenses $51,929,777 $54,327,161 0.0%
Net Income $30,372,500 $-22,124,079 -2.4%
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

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Governance

Voting Members
5
Independent Members
5
Employees
16
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
2
$253,108
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TODD GREATHOUSE EXECUTIVE DI 40.00
Officer
$164,403 $0 $164,403
KEN SILLIMAN TRUSTEE - PA 1.00
Director
$0 $0 $0
MATT CARROLL TRUSTEE - PA 1.00
Director
$0 $0 $0
DAVITA RUSSELL TRUSTEE - PA 1.00
Director
$0 $0 $0
RON KING TRUSTEE - PA 1.00
Director
$0 $0 $0
AHMED ABONAMAH TRUSTEE - PA 1.00
Director
$0 $0 $0
PAUL J VALVODA CONTROLLER 40.00
Officer
$88,705 $0 $88,705
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 $82,302,277 $51,929,777 $429,804,499 $30,372,500
2022 $32,203,082 $54,327,161 $383,176,733 $-22,124,079
2021 $30,122,951 $60,760,724 $401,423,840 $-30,637,773
2020 $46,953,957 $36,814,355 $429,645,920 $10,139,602
2019 $173,873,362 $32,465,366 $424,574,050 $141,407,996
2018 $126,298,393 $32,020,085 $276,474,909 $94,278,308
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