2021-11-11T12:16:26-06:00 2020-12-31 420714325 RSM US LLP 30 South Wacker Dr Suite 3300 Chicago IL 606063392 990 2020-01-01 346528498 Cleveland Development Foundation CLEV 2166213300 1240 Huron Road E No 300 Cleveland OH 44115 Yvette M Ittu Exec VP - Finance & Operations 2166213300 2021-11-11 1 Yvette Ittu XXX-XX-XXXX Rebekuh Eley P01247672 3126343400 2021-11-11 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z Baiju Shah 1240 Huron Road E No 300 Cleveland OH 44115 15000 0 X N/A X 1954 OH Developing and improving Cleveland's civic visions. 19 19 0 21 0 0 20500 15000 6000 0 0 0 0 0 26500 15000 0 0 0 0 0 0 0 0 0 35296 6444 35296 6444 -8796 8556 67464 126886 40651 91517 26813 35369 Developing and improving Cleveland Ohio's civic visions. 0 0 1851 0 Educating local officials and business members on Federal Public Policy. 1851 1 1 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 16 0 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 19 19 0 0 0 0 1 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 OH X John Luteran 2166213300 1240 Huron Road E No 300 Cleveland OH 44115 Schnur Eric Chair 2.00 4.00 X X 0 0 0 DiRocco Joe Treasurer 2.00 4.00 X X 0 0 0 Arnold Craig Director 1.00 2.00 X 0 0 0 Chaikin Scott Director 1.00 2.00 X 0 0 0 Chiricosta Richard Director 1.00 2.00 X 0 0 0 Gorman Christopher Director 1.00 2.00 X 0 0 0 Johnson Kevin Director 1.00 2.00 X 0 0 0 Lopez Joe Director 1.00 2.00 X 0 0 0 Mooney Beth Director, Left as of 4/22/20 1.00 2.00 X 0 0 0 Morikis John Director 1.00 2.00 X 0 0 0 Nance Frederick Director 1.00 2.00 X 0 0 0 Read Deborah Director 1.00 2.00 X 0 0 0 Richardson Sean Director 1.00 2.00 X 0 0 0 Safier Rion Director 1.00 2.00 X 0 0 0 Snyder Barbara Director 1.00 2.00 X 0 0 0 Stanek Michael Director 1.00 2.00 X 0 0 0 Taylor Jr Eddie Director 1.00 2.00 X 0 0 0 Williams Thomas Director 1.00 2.00 X 0 0 0 Young John Director 1.00 2.00 X 0 0 0 Zenty Thomas Director 1.00 2.00 X 0 0 0 Roman Joseph President/CEO 1.00 39.00 X 0 728789 282168 Ittu Yvette EVP Finance & Operations 1.00 39.00 X 0 353716 50187 0 1082505 332355 0 0 1 0 0 15000 15000 15000 0 0 0 X 382 382 4100 4100 1707 1707 255 144 111 6444 1851 4593 0 67464 126851 0 35 67464 126886 40362 91079 289 438 40651 91517 X 9772 5179 17041 30190 26813 35369 67464 126886 8556 0 X X 0 1 X 1 0 X 29500 24500 35000 20500 15000 124500 29500 24500 35000 20500 15000 124500 52480 72020 345 338 683 125183 62883 0.57530 0.64290 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 0 Intercompany Payable 438 438 X Part IV, Line 2b: The Cleveland Development Foundation (CDF) acts in the role of fiscal agent for early stage, community-based concepts without a formal corporate structure, whose purpose is consistent with the scope of the CDF. Each early stage concept is provided with a set of formal operating procedures. The CDF does not receive compensation for its duties in connection with any fiscal agent agreements. During 2020, CDF received $50,717 from organizations for which CDF acts as fiscal agent. Part X, Line 2: The Cleveland Development Foundation ("CDF") adopted the accounting standard on accounting for uncertainty in income taxes, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, CDF may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on technical merits of the position. At December 31, 2020 and 2019, management has evaluated the organization's tax positions and has concluded that the organization has taken no uncertain tax positions that require adjustment to the consolidated financial statements to comply with provisions of this guidance. CDF is not subject to tax examinations by tax authorities for the years ending December 31, 2017 and prior. 0 1 0 0 0 0 0 0 0 Roman Joseph President/CEO 0 527420 0 190250 0 11119 0 255246 0 26922 0 1010957 0 0 Ittu Yvette EVP Finance & Operations 0 276933 0 42255 0 34528 0 19100 0 31087 0 403903 0 30786 Part I, Line 1a Salaries of CDF staff have been subjected to review by a compensation committee created by its parent, The Greater Cleveland Partnership. The committee's responsibilities include approving compensation for employees of the organization including the President/CEO. An annual performance evaluation process is conducted for all employees. Compensation for all employees is evaluated against the market. The compensation committee utilizes the resources of an independent consulting firm in the evaluation process to provide local and national compensation comparable data. The results of the latest survey (GCP Executive Compensation Study - April 2020) provided that direct pay and indirect pay programs reflect market medians. Part I, Line 4b The President, Joseph D. Roman, participates in a supplemental non-qualified retirement plan. No amount was actively paid to him during the year. The change in actuarial value of this benefit was $85,026 for 2020. The Executive Vice President of Finance and Operations, Yvette Ittu, participates in a supplemental non-qualified 457(f) plan. In 2020, the organization contributed $16,902 to her 457(f) plan. Form 990, Part IV, Line 12 Audited Financial Statements: The financial statements and related statements of activities, functional expenses, and cash flows of the Cleveland Development Foundation (CDF) were audited on a consolidated basis. Refer to Form 990 Schedule R for details of the related organizations. Form 990, Part VI, Section A, line 6 The sole member of Cleveland Development Foundation is Greater Cleveland Partnership, an Ohio nonprofit corporation. Form 990, Part VI, Section B, line 11b Finance staff in conjunction with tax preparers compiles the information needed to complete the Form 990. Upon completion, Finance management conducts a detailed review of the return and makes final adjustments if necessary. The returns are provided to the Audit, Finance, and Executive Committees for review and comment. The final version of the Form 990 is given electronically and/or by hard copy to each board member for review prior to submission. Form 990, Part VI, Section B, line 12c The board of Directors and staff of the GCP are expected to maintain the highest ethical standards in conducting the business of the GCP. The board and staff conflict of interest policies are intended to provide clear guidance to ensure that the GCP's business is conducted with integrity, and in compliance with all applicable laws, and in a manner that excludes considerations of personal advantage or gain. All board and staff members shall annually receive a reminder of their agreement to comply with the policy and sign a declaration indicating their acceptance. Any violation of the board policy will subject a board member to appropriate action, up to and including, removal from the board. When questions arise concerning any aspect of this policy, board members are encouraged to contact the board chair. Violations of this policy should be reported to the board chair or the confidential and independent 24-hour helpline provider, NAVEX Global. The disinterested members of the GCP Executive Committee shall make a determination as to whether a conflict exists and what subsequent action, if any, is appropriate. The GCP Executive Committee shall inform the Board of such determination and action. The Board shall retain the right to modify or reverse such determination and action, and shall retain the ultimate enforcement authority with respect to the interpretation and application of this policy. The CEO, or his/her designee shall make a determination regarding staff members as to whether a conflict exists and what subsequent action, if any, is appropriate. Any violation of the staff policy will subject the employee to discipline, up to and including, immediate discharge. When questions arise concerning any aspect of this policy, or to report violations, employees should contact the human resources department or the confidential and independent 24-hour helpline provider, Navex Services. Form 990, Part VI, Section B, line 15 Salaries of CDF staff have been subjected to review by a compensation committee created by its parent, The Greater Cleveland Partnership. The committee's responsibilities include approving compensation for employees of the organization including the President/CEO. An annual performance evaluation process is conducted for all employees. Compensation for all employees is evaluated against the market. The compensation committee utilizes the resources of an independent consulting firm in the evaluation process to provide local and national compensation comparable data. The results of the latest survey (GCP Executive Compensation Study - April 2020) provided that direct pay and indirect pay programs reflect market medians. Form 990, Part VI, Section C, line 19 No documents are made available to the public. Form 990, Part IX, line 11g Consultative Services: Program service expenses 1,707. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,707. Form 990, Part XII, Financial Statements and Reporting: The organization has a committee that is responsible for oversight of the audit and selection of independent accountants. The process has not changed from the prior year. Greater Cleveland Partnership 1240 Huron Road E Suite 300 Cleveland OH 44115 340149250 Mobilizes private sector leadership, expertise and resources to create jobs OH 501(c)(6) N/A 0 Economic Growth Foundation 1240 Huron Road E Suite 300 Cleveland OH 44115 341916518 To promote & enhance civic, economic, and cultural growth. OH 501(c)(3) Line 7 Greater Cleveland Partnership 1 Opportunity Cle Loan Fund LLC 1240 Huron Road Ste 300 Cleveland OH 44115 384126152 Investments OH N/A 0 0 Advance Cleveland Development Fund 1240 Huron Road Ste 300 Cleveland OH 44115 461061063 Private sector financing for real estate projects OH N/A 0 0 Jumpstart Next Fund LLC 6701 Carnegie Ave Suite 100 Cleveland OH 44103 273815350 Investments in entry stage businesses OH N/A 0 0 Group Services Inc 1240 Huron Rd E Suite 300 Cleveland OH 44115 341402329 Small business access to affordable/quality group insurance OH N/A C 1 GCP Shared Services Inc 1240 Huron Rd E Suite 300 Cleveland OH 44115 208637606 Lease management OH N/A C 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0