2025-11-13T11:39:39-06:00 2024-12-31 420714325 RSM US LLP 6 S Patterson Blvd Dayton OH 45402 990 2024-01-01 341916518 Economic Growth Foundation ECON 2165922210 1240 Huron Road E 300 Cleveland OH 44115 Yvette M Ittu Exec VP - Finance & Operations 2166213300 2025-11-12 1 1 Karen O Crim P00368385 9372980201 2025-11-12 2024 2025-03-06 01:10:19Z Baiju Shah 1240 Huron Road E 300 Cleveland OH 44115 4989111 0 X N/A X 1997 OH To promote and advance the civic, economic, and cultural growth of Greater Cleveland. 25 25 0 27 0 0 3548234 2895221 1236214 2045941 40899 47949 0 0 4825347 4989111 0 0 0 0 2617260 2889936 0 0 0 2065372 1624271 4682632 4514207 142715 474904 12747580 13431304 916096 653785 11831484 12777519 X To promote and advance the civic, economic, and cultural growth of Greater Cleveland as a place to live, work, and conduct business. 0 0 2063090 0 444172 Talent:Dynamic businesses need abundant talent to grow. Our focus is catalyzing business-led initiatives and work-based learning opportunities for in-demand jobs. We collaborate with employers, educators, and career training partners to increase enrollment and completion in degree and credential programs across high-growth industries. We also strengthen pathways into the workforce through internships, apprenticeships, and co-ops driven by industry needs. To build early awareness and engagement, we support programs that connect high school students to career exploration and real-world experiences, helping young people navigate their options and pursue meaningful employment.Retain college graduates: Through the Cleveland Talent Alliance, we helped host record-setting intern engagement events, including Summer in the Land, College Fest and a Winter Career Fair, connecting 1,700+ interns to the region and showcasing local career opportunities. 2024 also saw a rise in college and university enrollments and graduate retention in Greater Cleveland.Expand apprenticeships and tech credentials: In addition, we operated the Apprenticeship Hub with a focus on engaging companies and individuals in apprenticeships in non-traditional industries such as health care, financial services, and hospitality. We also promoted increased usage of tech credentialing to up-skill workers.Broaden career awareness among high school students through exposure programs: Through partnerships, we supported expansions of apprenticeship programs, linking high school and post-secondary students to career pathways. EGF engaged over 2,600 high school students from across the region in career connected learning experiences with industry volunteers from over 50 Northeast Ohio companies and supported the Greater Cleveland Career Consortium's expansion to 10 school districts, to broad access to career-connected and work-based learning programs. 1935505 0 1590769 Inclusive Opportunity:Our focus is on expanding inclusive opportunity and advancing equity across all levels of the business community. We work to grow minority-owned businesses by connecting them to customer opportunities, capital, and targeted advisory services. In collaboration with partners, we help promote inclusive workplace practices.Scale minority business enterprises through advisory services and access to customers: EGF is focused on increasing the number, scope and scale of minority-owned-businesses. Through the Mergers, Acquisitions & Partnerships (MAP) Lab and Emerging Developers Initiatives, businesses can access targeted growth resources and advisors. Customer opportunities are provided through supplier diversity initiatives including CommitCLE and the Construction, Utilities, & Buildings Equity Initiative. In 2024, clients of the Ohio MBDA Business Center secured $110 million in contracts. Also, more than 20 organizations signed onto the City of Cleveland Community Benefits Ordinance MOU, reinforcing commitments to business and workforce opportunity.Increasing Leadership and Workforce Diversity: Diverse leadership strengthens organizations by bringing a wide range of experiences and perspectives to the table. EGF serves as a convener and resource for employers on inclusion. Our workshops and conferences include a CEO Forum and an annual conference engaging human resources leaders. 249505 0 11000 Innovation:A thriving region depends on the strength and growth of its business community. The Economic Growth Foundation drives innovation by collaborating with partners to support businesses of all sizes, connecting them to growth opportunities, and talent resources. We help small and mid-sized firms access funding, cost-saving programs, and peer networks that foster collaboration. We also accelerate innovation across startups, corporations, and research institutions by advancing sector-specific strategies, supporting cross-sector partnerships, and encouraging investment in new technologies. 87741 0 0 The Great Lakes Metro Chamber Coalition is a collective of chambers of commerce across the Great Lakes region that jointly advocate on core policy issues, including water quality, immigration reform, trade, transportation and infrastructure. EGF is a founding member of this coalition. The organization continues to staff and lead the coalition's work. 61642 0 0 Appealing communities are essential to attracting and retaining vibrant businesses and talented people. We focus on shaping Greater Cleveland into a dynamic place where people want to live, work, and play. Through collaboration with public and private partners, we advance interconnected, inclusive development across downtown, the waterfront, and surrounding neighborhoods. We invest in both residential growth and commercial revitalization, supported by accessible and efficient transit. We push for better parks and trails, stronger arts and culture, and the kind of sports and entertainment experiences that make a city stand out. We advocate for expanded resources that enhance quality of life, and we work to strengthen air service and connectivity that supports both business and leisure travel. 149383 0 0 4397483 1 1 0 0 0 0 0 0 1 0 1 0 1 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 36 0 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 25 25 0 0 0 0 1 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 OH X John Luteran 2166213300 1240 Huron Road E No 300 Cleveland OH 44115 Dolan Paul Chair 2.00 4.00 X X 0 0 0 Taylor Jr Eddie Secretary 2.00 4.00 X X 0 0 0 Richardson Sean Treasurer 2.00 4.00 X X 0 0 0 Arnold Craig Director 1.00 2.00 X 0 0 0 Barlage Nic Director 1.00 2.00 X 0 0 0 Cavoli James Director 1.00 2.00 X 0 0 0 Connell Michele Director 1.00 2.00 X 0 0 0 Cosgrove Bill Director 1.00 2.00 X 0 0 0 De Wagheneire Severine Director 1.00 2.00 X 0 0 0 Evans Taylor Director 1.00 2.00 X 0 0 0 Glass Steven Director 1.00 2.00 X 0 0 0 Gorman Christopher Director 1.00 2.00 X 0 0 0 Harmon Brad Director 1.00 2.00 X 0 0 0 Haslam Dee Director 1.00 2.00 X 0 0 0 Johnson Kevin Director 1.00 2.00 X 0 0 0 Kaler Eric Director 1.00 2.00 X 0 0 0 Liebert Rebecca Director 1.00 2.00 X 0 0 0 Opsitnick Timothy Director 1.00 2.00 X 0 0 0 Parmentier Jennifer Director 1.00 2.00 X 0 0 0 Pastore Patrick Director 1.00 2.00 X 0 0 0 Perez Cheryl Director 1.00 2.00 X 0 0 0 Petz Heidi Director 1.00 2.00 X 0 0 0 Read Deborah Director until 8/1/24 1.00 2.00 X 0 0 0 Restivo Neal Director 1.00 2.00 X 0 0 0 Stanek Michael Director until 2/1/24 1.00 2.00 X 0 0 0 Tierney Brian Director 1.00 2.00 X 0 0 0 Whiting Vanessa Director 1.00 2.00 X 0 0 0 Shah Baiju President & CEO 4.00 36.00 X 62270 629619 54375 Ittu Yvette EVP Finance & Operations 1.00 39.00 X 6668 399903 35169 Luteran John SVP, Fin. Operations & Air Services 1.00 39.00 X 8687 297198 43570 Blakemore Patrice SVP, Equity & Inclusion 40.00 0.00 X 228942 0 42403 Coates Steven Controller Finance & Operations 2.00 38.00 X 9834 199401 28755 Cox Katie SD, Assis. Controller, Fin. & Oper. 8.00 32.00 X 26299 112120 33872 Gutzky Debra VP, Human Resources 2.00 38.00 X 5405 129706 33370 Nance Christopher VP, Construction/Inclusive 40.00 0.00 X 137495 0 28526 Grgurevic Marco MVP, Minority Business Growth 40.00 0.00 X 134408 0 25709 620008 1767947 325749 10 0 1 0 0 1721017 1174204 2895221 Intercompany 900099 1295555 1295555 Registration Revenue 900099 167950 167950 582436 582436 2045941 47949 47949 4989111 2045941 0 47949 X 372035 350345 21690 1987389 1924965 62424 77439 74365 3074 303160 295343 7817 149913 145639 4274 393 393 4085 4085 557248 556822 426 13371 13320 51 42971 41801 1170 38325 37764 561 131273 126917 4356 56086 56086 109646 108948 698 79006 76801 2205 Sponsorships 402587 402587 Memberships 3802 3705 97 185478 182075 3403 4514207 4397483 116724 0 464564 655198 932041 854561 560708 495922 187334 255626 21772 22442 15500 10764 9903 4736 0 100430 10519623 10990754 51635 51635 12747580 13431304 149607 88496 323816 1273 442673 564016 916096 653785 X 10491934 11125632 1339550 1651887 11831484 12777519 12747580 13431304 474904 471131 0 X X 0 1 X 1 0 X 2149384 1893165 2256711 3548234 2895221 12742715 2149384 1893165 2256711 3548234 2895221 12742715 12742715 13755 1898 15600 40899 47949 120101 12862816 5797172 0.99070 0.98150 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 15500 10764 4736 4736 Investment in Cleveland Development Ptshp II 10990754 C 10990754 Intercompany Payable 564016 564016 X Part IV, Line 2b: The Economic Growth Foundation (EGF) 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 EGF. Each early stage concept is provided with a set of formal operating procedures. The EGF does not receive compensation for its duties in connection with any fiscal agent agreements. During 2024, EGF received $17,450 from organizations for which EGF acts as fiscal agent. Part X, Line 2: The Economic Growth Foundation ("EGF") 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 consolidated financial statements. Under this guidance, EGF 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, 2024 and 2023, 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. X X X X X 0 1 0 0 0 0 0 1 0 Shah Baiju President & CEO 50684 512475 11133 112567 453 4577 1532 15488 3362 33993 67164 679100 0 0 Ittu Yvette EVP Finance & Operations 5408 324364 707 42393 553 33146 116 6926 461 27666 7245 434495 474 28441 Luteran John SVP, Fin. Operations & Air Services 7740 264788 721 24679 226 7731 439 15004 799 27328 9925 339530 0 0 Blakemore Patrice SVP, Equity & Inclusion 205145 0 21600 0 2197 0 11088 0 31315 0 271345 0 0 0 Coates Steven Controller Finance & Operations 8733 177072 959 19441 142 2888 505 10234 847 17169 11186 226804 0 0 Cox Katie SD, Assis. Controller, Fin. & Oper. 23499 100181 2698 11502 102 437 1399 5961 5037 21475 32735 139556 0 0 Gutzky Debra VP, Human Resources 4938 118508 412 9888 55 1310 286 6848 1049 25187 6740 161741 0 0 Nance Christopher VP, Construction/Inclusive 122100 0 12600 0 2795 0 7161 0 21365 0 166021 0 0 0 Grgurevic Marco MVP, Minority Business Growth 121392 0 12100 0 916 0 7015 0 18694 0 160117 0 0 0 Part I, Line 4b The Executive Vice President of Finance and Operations, Yvette Ittu, participates in a supplemental non-qualified 457(f) plan. In 2024, Greater Cleveland Partnership, the parent organization, contributed $13,720 to her 457(f) plan. Part I, Line 7 Incentive compensation of EGF's officers, key employees, and highest compensated employees is discretionary and has been subjected to review by a compensation committee created by its parent, the Greater Cleveland Partnership. Form 990, Part IV, Line 12 Audited Financial Statements: The financial statements and related statements of activities, functional expenses, and cash flows of the Economic Growth Foundation (EGF) 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 Economic Growth 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, Inc. 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 Global, Inc. Form 990, Part VI, Section B, line 15 Salaries of EGF 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 - February 2024) provided that direct pay and indirect pay programs reflect market medians. All compensation and benefits information reported on this return is paid by the Greater Cleveland Partnership (GCP) to employees of that organization who split their time among GCP and several related organizations. Allocations have been made between the filing organization and two related organizations to, more accurately, report compensation and benefit expenses applicable to each organization. Form 990, Part VI, Section C, line 19 A copy of the governing documents, conflict of interest policy and financial statements are available upon request for the same period of disclosure as set forth in IRC Section 6104(d). Form 990, Part IX, line 11g Consulting: Program service expenses 416,480. Management and general expenses 426. Fundraising expenses 0. Total expenses 416,906. Marketing: Program service expenses 140,342. Management and general expenses 0. Fundraising expenses 0. Total expenses 140,342. Form 990, Part XII, Financial Statement 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 N/A 0 Cleveland Development Foundation 1240 Huron Road E Suite 300 Cleveland OH 44115 346528498 Developing and improving Cleveland's Civic Visions OH 501(C)(3) Line 7 Greater Cleveland Partnership 1 Group Services Inc 1240 Huron Road E Suite 300 Cleveland OH 44115 341402329 Small business access to affordable/quality group insurance OH N/A C 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1