CUYAHOGA COUNTY CONVENTION FACILIT… - Form 990 Financial Data

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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

2013

Legal Domicile

Phone

2165880930

Tax Period

2023-01-01 to 2023-12-31

CUYAHOGA COUNTY CONVENTION FACILITIES DEVELOPMENT CORPORATION, founded in 2013, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $58.3M in total revenue in fiscal year 2023.

Mission

THE ORGANIZATION IS OPERATED FOR THE PURPOSES OF PROMOTING THE COMMON GOOD AND GENERAL WELFARE OF THE RESIDENTS OF CUYAHOGA COUNTY, OHIO BY ENGAGING IN ACTIVITIES TO PROMOTE THE REVITALIZATION OF GREATER CLEVELAND AND CUYAHOGA COUNTY, TO ENHANCE THE CREATION OF NEW EMPLOYMENT OPPORTUNITIES IN GREATER CLEVELAND AND CUYAHOGA COUNTY, TO SUPPORT THE ECONOMIC GROWTH OF CLEVELAND, OHIO AND CUYAHOGA COUNTY, AND TO LESSEN THE BURDENS OF GOVERNMENT BY CONDUCTING ACTIVITIES FOR AND ON BEHALF OF CUYAHOGA COUNTY, OHIO.

Program Service Accomplishments

Program 1

Expenses: $56,906,991 Revenue: $58,055,582

THE ORGANIZATION OPERATES TO PROMOTE THE COMMON GOOD AND GENERAL WELFARE OF THE RESIDENTS OF CUYAHOGA COUNTY BY OPERATING AND MANAGING THE CLEVELAND CONVENTION CENTER FOR AND ON BEHALF OF CUYAHOGA...

THE ORGANIZATION OPERATES TO PROMOTE THE COMMON GOOD AND GENERAL WELFARE OF THE RESIDENTS OF CUYAHOGA COUNTY BY OPERATING AND MANAGING THE CLEVELAND CONVENTION CENTER FOR AND ON BEHALF OF CUYAHOGA COUNTY, OHIO.THE ORGANIZATION ASSISTS CUYAHOGA COUNTY IN THE PROMOTION OF GREATER CLEVELAND AS A DESTINATION LOCATION FOR CONVENTIONS, FORUMS, MEETINGS, AND OTHER EVENTS TO ENHANCE THE ECONOMIC REVITALIZATION OF THE REGION AND, IN THAT CONNECTION, ACTS AS A CONVENER AMONG THE FACILITIES MANAGER, THE CONVENTION AND VISITORS BUREAU OF GREATER CLEVELAND, INC., AN OHIO NONPROFIT CORPORATION DOING BUSINESS AS POSITIVELY CLEVELAND, THE CONVENTION HEADQUARTERS HOTEL AND OTHER HOTELIERS ASSOCIATED WITH THE CLEVELAND CONVENTION CENTER AND OTHER KEY STAKEHOLDERS IN THE CLEVELAND CONVENTION CENTER, INCLUDING AMONG THOSE ACTIVITIES COORDINATING REGULAR MEETINGS AMONG THE FOREGOING PARTIES.

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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 $0

Program Service Revenue $58,055,582

Investment Income $245,320

Other Revenue $0

TOTAL REVENUE $58,300,902

Expense Breakdown

Grants Paid $0

Salaries & Benefits $298,148

Fundraising Expenses $0

Program Expenses $56,906,991

Other Expenses $57,562,115

TOTAL EXPENSES $57,860,263

Year-over-Year Comparison

	2023	2022	Change
Revenue	$58,300,902	$59,055,405	0.0%
Expenses	$57,860,263	$64,879,614	-0.1%
Net Income	$440,639	$-5,824,209	-1.1%

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

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

$191,086

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TREVOR MCALEER	TREASURER	5.00	Director	$0	$0	$0
DAVID GILBERT	DIRECTOR	5.00	Director	$0	$0	$0
MAJEED MAKHLOUF	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
TIMOTHY OFFTERMATT	SECRETARY	5.00	Director	$0	$0	$0
BRADLEY SELLERS	PRESIDENT	5.00	Officer Director	$0	$0	$0
MICHAEL OBI	DIRECTOR	5.00	Director	$0	$0	$0
ROSHANDA SMITH	DIRECTOR	5.00	Director	$0	$0	$0
JEFFREY EPSTEIN	DIRECTOR	5.00	Director	$0	$0	$0
DEBBIE BERRY	DIRECTOR	5.00	Director	$0	$0	$0
GEORGE HILLOW	EXECUTIVE DIRECTOR	40.00	Officer	$155,360	$35,726	$191,086

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	$58,300,902	$57,860,263	$22,575,290	$440,639
2022	$59,055,405	$64,879,614	$22,123,608	$-5,824,209
2021	$49,456,687	$48,655,983	$27,851,572	$800,704
2020	$47,771,526	$46,304,312	$26,944,227	$1,467,214
2019	$65,412,727	$62,728,206	$25,986,420	$2,684,521
2018	$61,880,216	$58,764,224	$24,061,232	$3,115,992

CUYAHOGA COUNTY CONVENTION FACILITIES DEVELOPMENT CORPORATION