Gateway Economic Development Corporation of Greater Cleveland
99% goes to programs $0 to raise $100 Strong reserves Growing revenue
Gateway Economic Development Corporation of Greater Cleveland is a 501(c)(3) organization based in Cleveland, Ohio, registered in 1992, with $162,797,089 in FY2024 revenue. CharityIndex grades it A, and it directs about 99% of spending to programs.
758 Bolivar Rd, Cleveland, OH, 44115 EIN 34-1650917 Since 1992
Revenue (FY2024)
$162.8M
▲ 97.8% vs prior year
Community median: $184K
Expenses (FY2024)
$52.6M
Net assets
$216.0M
Employees
26
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
A+Program efficiency40% of the rating99% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Gateway Economic Development Corporation of Greater Cleveland: 99% to programs · $0 to raise $100 earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating49 mo reserves · +68% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Gateway Economic Development Corporation of Greater Cleveland: 49 mo reserves · +68% margin earns a A on this criterion. See the exact thresholds →
BGovernance25% of the rating4 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Gateway Economic Development Corporation of Greater Cleveland: 4 of 6 checks met earns a B on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Gateway Economic Development Corporation of Greater Cleveland: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Promote economic develoment in order to prevent the conditions of blight and deterioration historically existing in the area.
What they do
Gateway economic development corporation of cleveland is organized to construct, own and provide for the operation of a sports facility, which includes a baseball stadium, arena and a joint development site. the sports facility was built in order to prevent the spread of blight and deterioration historically existing in the area. in this way, the corporation is lessening the burdens of government.
Contact & location
- Address
- 758 Bolivar Rd, Cleveland, OH, 44115
- City
- Cleveland
- State
- Ohio
- Subcategory
- Economic Development
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $19.1M (FY2013) to $162.8M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $375.3MNet assets $216.0M
Operating margin
67.7%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$591.3M
Total liabilities
$375.3M
Net assets
$216.0M
Salaries & benefits
$1.5M
3% of expenses
Board members
5
5 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $162,797,089▲97.8% | $52,611,972▲1.3% | $215,964,709▲104% | $591,287,631▲37.6% | 990 |
| 2023 | $82,302,277▲156% | $51,929,777▼4.4% | $105,779,592▲40.3% | $429,804,499▲12.2% | 990 |
| 2022 | $32,203,082▲6.9% | $54,327,161▼10.6% | $75,407,092▼22.7% | $383,176,733▼4.5% | 990 |
| 2021 | $30,122,951▼35.8% | $60,760,724▲65.0% | $97,531,171▼23.9% | $401,423,840▼6.6% | 990 |
| 2020 | $46,953,957▼73.0% | $36,814,355▲13.4% | $128,168,944▲8.6% | $429,645,920▲1.2% | 990 |
| 2019 | $173,873,362▲37.7% | $32,465,366▲1.4% | $118,029,342▲605% | $424,574,050▲53.6% | 990 |
| 2018 | $126,298,393▲164% | $32,020,085▼21.4% | -$23,378,654▲80.1% | $276,474,909▲48.7% | 990 |
| 2017 | $47,820,761▼34.6% | $40,717,503▼0.1% | -$117,656,962▲5.7% | $185,976,456▲3.6% | 990 |
| 2016 | $73,104,704▲1.0% | $40,761,946▲8.9% | -$124,760,220▲20.6% | $179,427,480▲18.2% | 990 |
| 2015 | $72,412,239▲270% | $37,431,389▲8.6% | -$157,102,978▲18.2% | $151,837,437▲12.6% | 990 |
| 2014 | $19,579,074▲2.6% | $34,460,910▲8.4% | -$192,083,829▼8.4% | $134,858,851▲3.4% | 990 |
| 2013 | $19,084,226 | $31,800,296▼14.1% | -$177,129,890▲2.8% | $130,467,000▼9.9% | 990 |
| 2012 | — | $37,040,648▲18.3% | -$182,275,891▼11.3% | $144,780,681▼6.6% | 990 |
| 2011 | — | $31,299,472▼9.7% | -$163,741,146▼7.3% | $154,973,592▼6.1% | 990 |
| 2010 | — | $34,660,790 | -$152,575,657 | $165,119,907 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Todd Greathouse — $166,096 (0.32% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Todd Greathouse | Executive Di | 40 | $166,096 |
| Paul J Valvoda | Controller | 40 | $106,791 |
| Bonnie Teeuwen | Trustee - PA | 1 | — |
| Bryce Sylvester | Trustee - PA | 1 | — |
| Davita Russell | Trustee - PA | 1 | — |
| Debbie Berry | Trustee - PA | 1 | — |
| Virginia Benjamin | Trustee - PA | 1 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Ma Mortenson Co | Construction | $111,573,309 |
| Whiting-turner Contracting Co | Construction | $9,479,762 |
| Alpha Video & Audio Inc | Trades | $8,451,659 |
| Platform Cement Inc | Construction | $3,333,921 |
| Moody Nolan | Architechtural | $2,701,601 |
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Frequently asked questions
- Is Gateway Economic Development Corporation of Greater Cleveland a legitimate nonprofit?
- Yes. Gateway Economic Development Corporation of Greater Cleveland is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 34-1650917, based in Cleveland, Ohio. Donations are tax-deductible.
- What is Gateway Economic Development Corporation of Greater Cleveland's EIN?
- Gateway Economic Development Corporation of Greater Cleveland's Employer Identification Number (EIN) is 34-1650917.
- How much revenue does Gateway Economic Development Corporation of Greater Cleveland report?
- Gateway Economic Development Corporation of Greater Cleveland reported $162,797,089 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Gateway Economic Development Corporation of Greater Cleveland's spending goes to programs?
- Gateway Economic Development Corporation of Greater Cleveland spends about 99% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Gateway Economic Development Corporation of Greater Cleveland have?
- CharityIndex grades Gateway Economic Development Corporation of Greater Cleveland A, based on program efficiency and fundraising cost.
- How much does Gateway Economic Development Corporation of Greater Cleveland's highest-paid employee make?
- The highest reported compensation on Gateway Economic Development Corporation of Greater Cleveland's latest Form 990 is $166,096, paid to Todd Greathouse (Executive Di).
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Data for Gateway Economic Development Corporation of Greater Cleveland (EIN 34-1650917) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.