Overview
What is Gateway Economic Development Corporation Of Greater Cleveland?
The Gateway Economic Development Corporation of Greater Cleveland is a nonprofit organization dedicated to promoting economic development in historically blighted areas of Cleveland, Ohio. By constructing, owning, and overseeing the operation of a sports facility, which encompasses a baseball stadium, arena, and a joint development site, the corporation aims to prevent further deterioration in the region. Their mission is to reduce the burdens on the government and revitalize the area. The organization employs a team of thirteen individuals to carry out these initiatives.
Official website here: www.gwcomplex.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning a Two-Star out of Four Star rating
The Gateway Economic Development Corporation of Greater Cleveland has received a Two-Star rating from Charity Navigator, indicating a need for improvement in some areas of accountability and transparency. While it boasts a strong program expense ratio of 98.72%, highlighting effective use of funds towards its mission, the organization has several shortcomings that affect its overall score.
One of the notable strengths is the presence of a fully independent board, which demonstrates strong governance practices. Additionally, the organization has been recognized for having no material diversion of assets and maintaining an effective audit and oversight committee. However, the absence of certain policies, such as a whistleblower policy and document retention guidelines, raises concerns regarding its accountability practices.
Financially, the organization struggles with a liabilities to assets ratio of 80.31%, which may suggest potential financial instability. Furthermore, the lack of transparency regarding tax documents on its website could hinder public trust and engagement. Overall, while the Gateway Economic Development Corporation has some solid organizational practices, significant areas for improvement remain.
This AI summary has been generated from information found on Charity Navigator.
Is Gateway Economic Development Corporation Of Greater Cleveland legitimate?
Gateway Economic Development Corporation Of Greater Cleveland is a legitimate nonprofit organization registered as a 501(c)(3) entity. Gateway Economic Development Corporation Of Greater Cleveland submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $275,880
Professional Fundraising Fees: $0
Other Salaries and Wages: $539,243
For more financial information, click here
Official website here: www.gwcomplex.org
What is the mission statement of Gateway Economic Development Corporation Of Greater Cleveland?
The Gateway Economic Development Corporation of Greater Cleveland works to promote economic development in order to prevent the historic conditions of blight and deterioration in the area. By constructing, owning, and managing a sports facility, which includes a baseball stadium, arena, and joint development site, the corporation lessens the burdens on the government and contributes to the revitalization of the community. The organization's efforts aim to halt the spread of decay and deterioration, improving the overall economic condition of the region. The sports facility attracts businesses and visitors, creating jobs and stimulating local economic growth. The corporation's commitment extends beyond the construction project, as it continues to seek innovative ways to encourage economic development and community improvement.
Official website here: www.gwcomplex.org
Who is the CEO of Gateway Economic Development Corporation Of Greater Cleveland?
Todd Greathouse is the Executive Di of Gateway Economic Development Corporation Of Greater Cleveland.
Official website here: www.gwcomplex.org
What is the revenue of Gateway Economic Development Corporation Of Greater Cleveland?
Gateway Economic Development Corporation Of Greater Cleveland's revenue in 2022 was $32,203,082.
Official website here: www.gwcomplex.org
Who are the executives of Gateway Economic Development Corporation Of Greater Cleveland and what are their salaries?
The average compensation at Gateway Economic Development Corporation Of Greater Cleveland during 2022 was $62,702. There are 13 employees at Gateway Economic Development Corporation Of Greater Cleveland.
Here are 7 key members and their salaries:
- Compensation: $150,146
- Related: $0
- Other: $0
- Compensation: $125,734
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.gwcomplex.org
Where can I find the form 990 for Gateway Economic Development Corporation Of Greater Cleveland?
Gateway Economic Development Corporation Of Greater Cleveland's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.gwcomplex.org
Learn more at the official website: www.gwcomplex.org
Mission Statement of Gateway Economic Development Corporation Of Greater Cleveland
Gateway Economic Development Corporation of Greater Cleveland, or Gateway, is a dedicated organization that strives to promote economic development in its area. Its mission is geared towards preventing the historical conditions of blight and deterioration that have long affected the region. By constructing, owning, and managing a sports facility which consists of a baseball stadium, arena, and joint development site, Gateway is making significant strides in reducing the burdens of government and combating urban decay. This sports facility serves as a crucial catalyst for economic growth, helping to halt the spread of blight and deterioration in the area. Gateway's efforts are essential as they contribute to the revitalization of the community, making it a more vibrant and thriving place to live.
The corporation's vision is to create a positive impact on the local economy and improve the overall quality of life for its residents. Through its initiatives, Gateway Economic Development Corporation of Greater Cleveland is able to attract new businesses, create jobs, and stimulate economic growth. The corporation's commitment to economic development not only helps to prevent further deterioration but also lays the groundwork for a prosperous and flourishing community.
In summary, Gateway Economic Development Corporation of Greater Cleveland is a pivotal organization that is working to promote economic development and prevent the historical conditions of blight and deterioration in its area. By constructing and managing a sports facility, the corporation is making a significant impact on the local economy and improving the overall quality of life for its residents. Its initiatives are crucial in attracting new businesses, creating jobs, and stimulating economic growth.
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Impact
October, 2024
Gateway Economic Development Corporation of Greater Cleveland plays a crucial role in revitalizing the region by promoting economic development and addressing issues of blight and deterioration. By constructing and operating a multi-use sports facility, including a baseball stadium and arena, the corporation not only enhances the area's attractiveness but also stimulates local economic activity. This initiative combats the historical conditions of neglect and decay, contributing to community improvement and enhancing the quality of life for residents. By focusing on development that brings people together, the organization helps to foster a vibrant and sustainable environment in Cleveland, ultimately lessening the burden on local government.
This information is meant to be a general summary of Gateway Economic Development Corporation Of Greater Cleveland. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $3,706
- Program Service Revenue: $29,469,190
- Gross Receipts: $32,203,082
Assets and Liabilities:
- Total Assets: $383,176,733
- Total Liabilities: $307,769,641
- Net Assets: $75,407,092
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ADMISSION TAX
Revenue
$8,423,275
CAPITAL IMPROVEMENT REVENUE
Revenue
$6,810,471
TRANSFORMATION PROJECT REV
Revenue
$5,491,853
BASE RENT
Revenue
$4,506,848
BALLPARK IMPROVEMENT PROJECT
Revenue
$4,161,379
Organization Details
Founding Year
1990
Phone
(216) 420-4071Principal Officer
Todd Greathouse
Main Address
758 BOLIVAR ROAD, CLEVELAND, OH, 44115
Website
www.gwcomplex.orgNTEE Category
Code: S310 - Community improvement
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