Overview
What is Team Neo Foundation?
Team Neo Foundation is a nonprofit organization located in Cleveland, Ohio. Their primary mission is to boost the economy of Northeast Ohio by collaborating with various partners. They aim to attract new businesses, support existing ones, and accelerate innovation in the region. This is achieved by leveraging their extensive supply chain and partner relationships across diverse industries, integrating technology, developing new markets, and fostering a highly-skilled workforce. The foundation also brings together local, regional, and state resources to elevate the region's profile and advocate for investment in Northeast Ohio, focusing on businesses that will contribute to its success. With a workforce of 44 individuals, Team Neo Foundation serves as a regional hub for business and philanthropy, addressing economic competitiveness issues and driving growth in the area.
Official website here: www.teamneo.org
What are the reviews and ratings of this charity?
Team Neo Foundation has received a solid Three-Star out of Four Star rating from Charity Navigator, with an overall score of 86%. This score is based solely on their Accountability & Finance metrics, which indicates that the organization maintains a strong emphasis on financial health and transparency.
The foundation has achieved high marks in several key areas, including having a fully independent board and excellent financial oversight, with no material diversion of assets reported. Their program expense ratio is commendable at 86.58%, reflecting a strong commitment to using funds for their intended programs. However, the organization has some limitations, particularly in its liabilities to assets ratio and working capital ratio, which may raise questions about long-term fiscal sustainability.
Unfortunately, user reviews from GreatNonprofits are not available, so no additional community feedback can be provided about the foundation's impact or user sentiment. Overall, while Team Neo Foundation displays solid financial accountability, further insight from user experiences would be beneficial.
This AI summary has been generated from information found on Charity Navigator.
Is Team Neo Foundation legitimate?
Team Neo Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Team Neo Foundation 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: $1,440,611
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,563,959
For more financial information, click here
Official website here: www.teamneo.org
What is the mission statement of Team Neo Foundation?
Team Neo Foundation's mission is centered around boosting the economy of a certain region. They achieve this by collaborating with their network partners and other entities. The primary focus is on attracting new businesses, assisting existing ones in growth, and amplifying the impact of innovation. Additionally, Team Neo Foundation acts as a platform to bring together various local, regional, and state resources. Their aim is to enhance the region's profile and make a compelling case for investment. The foundation's board serves as a central hub for business and philanthropy, identifying, prioritizing, and addressing economic competitiveness challenges.
Official website here: www.teamneo.org
Who is the CEO of Team Neo Foundation?
William Koehler is the Director of Team Neo Foundation. The CEO's salary of Team Neo Foundation is $397,437 and their total compensation is $426,592.
Official website here: www.teamneo.org
What is the revenue of Team Neo Foundation?
Team Neo Foundation's revenue in 2022 was $7,993,857.
Official website here: www.teamneo.org
Who are the executives of Team Neo Foundation and what are their salaries?
The average compensation at Team Neo Foundation during 2022 was $91,013. There are 44 employees at Team Neo Foundation.
Here are 56 key members and their salaries (Team Neo Foundation's CEO's salary is $397,437 and their total compensation is $426,592):
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- Compensation: $397,437
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- Other: $17,894
Official website here: www.teamneo.org
Where can I find the form 990 for Team Neo Foundation?
Team Neo Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.teamneo.org
Learn more at the official website: www.teamneo.org
Mission Statement of Team Neo Foundation
Team Neo Foundation, a mission-driven organization, plays a crucial role in boosting the economy of its region. By collaborating with their Network Partners and other key players, they aim to attract new businesses to the area and support the growth of existing ones. Their ultimate goal is to accelerate innovation and drive its impact within the region. Additionally, Team Neo Foundation serves as a bridge, bringing together local, regional, and state resources to elevate the region's profile and make a compelling case for investment. Focusing on proven businesses that will contribute positively to the region's success, they act as a regional hub for business and philanthropy, identifying, prioritizing, and addressing economic competitiveness challenges.
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Impact
October, 2024
Team Neo Foundation plays a pivotal role in enhancing the economy of Northeast Ohio by fostering collaboration among various stakeholders, including businesses, government, and community organizations. By leveraging its extensive supply chain and partner relationships, Team Neo drives innovation and helps integrate advanced technology across the region's diverse industries.
The foundation is committed to growing the local economy by attracting new businesses, supporting existing ones in their growth, and creating equitable opportunities for a highly-trained workforce. Through its efforts, Team Neo facilitates the development of new markets and enhances the region’s profile, making a compelling case for investment in Northeast Ohio. The foundation acts as a crucial nexus where business leaders and philanthropic entities convene to address and advance critical economic competitiveness challenges, ensuring a sustainable and prosperous future for the region.
This information is meant to be a general summary of Team Neo Foundation. 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: $332
- Program Service Revenue: $183,768
- Gross Receipts: $7,993,857
Assets and Liabilities:
- Total Assets: $3,222,974
- Total Liabilities: $896,619
- Net Assets: $2,326,355
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Sponsorships
Revenue
$150,600
Event Registrations
Revenue
$33,168
Organization Details
Founding Year
2003
Phone
(216) 363-5400Principal Officer
William Koehler
Main Address
1111 Superior Avenue, Cleveland, OH, 44114
Website
www.teamneo.orgNTEE Category
Code: S30 - Community improvement
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