GATEWAY ECONOMIC DEVELOPMENT CORPORATION OF GREATER CLEVELAND: Form 990, tax year 2012

View the entire original 990 at ProPublica ↗

Organization: GATEWAY ECONOMIC DEVELOPMENT CORPORATION OF GREATER CLEVELAND (EIN 34-1650917)
Tax period: 2012-01-01 to 2012-12-31
Filed: 2013-10-15
IRS object ID: 201322889349301502
Schema version: 2012v2.0
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule A
Schedule D
Schedule K
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2013-10-15T14:50:08-07:00	Timestamp
Tax Period End Date	2012-12-31	TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	DAVIS & COMPANY CPAS INC	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	7205 PEARL ROAD	AddressLine1
City	MIDDLEBURG HEIGHTS	City
State	OH	State
ZIP Code	44130	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2012-01-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	341650917	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	GATEWAY ECONOMIC DEVELOPMENT CORPORATION OF GREATER CLEVELAND	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	GATE	NameControl
Phone	2164204071	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	758 BOLIVAR ROAD	AddressLine1
City	CLEVELAND	City
State	OH	State
ZIP Code	44115	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	TODD GREATHOUSE	Name
Title	EXECUTIVE DIRECTOR	Title
Phone	2164204071	Phone
Date Signed	2013-10-07	DateSigned
Authorize Third Party	true	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	JOHN D DAVIS	Name
Phone	4408879150	Phone

Field	Value	IRS element (for citing)
Tax Year	2012	TaxYear
Build TS	2016-03-07 17:11:31Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Name Of Principal Officer Person	TODD GREATHOUSE	NameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

Field	Value	IRS element (for citing)
Address Line1	758 BOLIVAR	AddressLine1
City	CLEVELAND	City
State	OH	State
ZIP Code	44113	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	18505903	GrossReceipts
Group Return For Affiliates	false	GroupReturnForAffiliates
Organization501c3	X	Organization501c3
Web Site	N/A	WebSite
Type Of Organization Corporation	X	TypeOfOrganizationCorporation
Year Formation	1990	YearFormation
State Legal Domicile	OH	StateLegalDomicile
Activity Or Mission Description	Promote economic development in order to prevent the conditions of blight and deterioration historically existing in the area.	ActivityOrMissionDescription
Nbr Voting Members Governing Body	5	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	5	NbrIndependentVotingMembers
Total Nbr Employees	8	TotalNbrEmployees
Total Nbr Volunteers	0	TotalNbrVolunteers
Total Gross UBI	0	TotalGrossUBI
Contributions Grants Current Year	0	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	13290658	ProgramServiceRevenuePriorYear
Program Service Revenue CY	13312605	ProgramServiceRevenueCY
Investment Income Prior Year	4310146	InvestmentIncomePriorYear
Investment Income Current Year	2564759	InvestmentIncomeCurrentYear
Other Revenue Prior Year	2533179	OtherRevenuePriorYear
Other Revenue Current Year	2628539	OtherRevenueCurrentYear
Total Revenue Prior Year	20133983	TotalRevenuePriorYear
Total Revenue Current Year	18505903	TotalRevenueCurrentYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members CY	0	BenefitsPaidToMembersCY
Salaries Etc Prior Year	482502	SalariesEtcPriorYear
Salaries Etc Current Year	516503	SalariesEtcCurrentYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	0	TotalFundrsngExpCurrentYear
Other Expense Prior Year	30816970	OtherExpensePriorYear
Other Expenses Current Year	36524145	OtherExpensesCurrentYear
Total Expenses Prior Year	31299472	TotalExpensesPriorYear
Total Expenses Current Year	37040648	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	-11165489	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	-18534745	RevenuesLessExpensesCY
Total Assets BOY	154973592	TotalAssetsBOY
Total Assets EOY	144780681	TotalAssetsEOY
Total Liabilities BOY	318714738	TotalLiabilitiesBOY
Total Liabilities EOY	327056572	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	-163741146	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	-182275891	NetAssetsOrFundBalancesEOY
Mission Description	Promote economic development	MissionDescription
Significant New Program Services	false	SignificantNewProgramServices
Significant Change	false	SignificantChange
Expense	36699952	Expense
Revenue	13312605	Revenue
Description	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.	Description
Total Program Service Expense	36699952	TotalProgramServiceExpense
Described In501 C3	true	DescribedIn501C3
Schedule B Required	false	ScheduleBRequired
Political Activities	false	PoliticalActivities
Lobbying Activities	false	LobbyingActivities
Subject To Proxy Tax	false	SubjectToProxyTax
Donor Advised Funds	false	DonorAdvisedFunds
Conservation Easements	false	ConservationEasements
Collections Of Art	false	CollectionsOfArt
Credit Counseling	false	CreditCounseling
Term Or Permanent Endowments	false	TermOrPermanentEndowments
Report Land Bldg Equip	true	ReportLandBldgEquip
Report Invest Oth Securities	false	ReportInvestOthSecurities
Report Prog Rel Invest	false	ReportProgRelInvest
Report Other Assets	false	ReportOtherAssets
Report Other Liabilities	true	ReportOtherLiabilities
Report Fin48 Footnote	false	ReportFin48Footnote
Independent Audit Financial Stmt	true	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	false	ConsolidatedAuditFinancialStmt
School	false	School
Foreign Office	false	ForeignOffice
Foreign Activities	false	ForeignActivities
More Than5000 K To Organizations	false	MoreThan5000KToOrganizations
More Than5000 K To Individuals	false	MoreThan5000KToIndividuals
Professional Fundraising	false	ProfessionalFundraising
Fundraising Activities	false	FundraisingActivities
Gaming	false	Gaming
Hospital	false	Hospital
Grants To Organizations	false	GrantsToOrganizations
Grants To Individuals	false	GrantsToIndividuals
Schedule J Required	false	ScheduleJRequired
Tax Exempt Bonds	true	TaxExemptBonds
Invest Tax Exempt Bonds	false	InvestTaxExemptBonds
Escrow Account	false	EscrowAccount
On Behalf Of Issuer	false	OnBehalfOfIssuer
Excess Benefit Transaction	false	ExcessBenefitTransaction
Prior Excess Benefit Transaction	false	PriorExcessBenefitTransaction
Loan To Officer Or DQP	false	LoanToOfficerOrDQP
Grant To Related Person	false	GrantToRelatedPerson
Bsnss Rltnshp With Organization	false	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	false	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	false	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	false	DeductibleNonCashContributions
Deductible Contributions Of Art	false	DeductibleContributionsOfArt
Terminated	false	Terminated
Partial Liquidation	false	PartialLiquidation
Disregarded Entity	false	DisregardedEntity
Related Entity	false	RelatedEntity
Related Org Controlled Entity	false	RelatedOrgControlledEntity
Transaction Related Entity	false	TransactionRelatedEntity
Activities Conducted Partnership	false	ActivitiesConductedPartnership
Schedule O Required	true	ScheduleORequired
Number Forms Transmitted With1096	0	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Compliance With Backup Witholding	true	ComplianceWithBackupWitholding
Number Of Employees	8	NumberOfEmployees
Employment Tax Returns Filed	true	EmploymentTaxReturnsFiled
Unrelated Business Income	false	UnrelatedBusinessIncome
Foreign Financial Account	false	ForeignFinancialAccount
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTrans
Taxable Party Notification	false	TaxablePartyNotification
Non Deductible Contributions	false	NonDeductibleContributions
Quid Pro Quo Contributions	false	QuidProQuoContributions
Form8282 Property Disposed Of	false	Form8282PropertyDisposedOf
Funds To Pay Premiums	false	FundsToPayPremiums
Premiums Paid	false	PremiumsPaid
Excess Business Holdings	false	ExcessBusinessHoldings
Taxable Distributions	false	TaxableDistributions
Distribution To Donor	false	DistributionToDonor
Indoor Tanning Services	false	IndoorTanningServices
Info In Schedule O Part VI	X	InfoInScheduleOPartVI
Nbr Voting Governing Body Members	5	NbrVotingGoverningBodyMembers
Number Independent Voting Members	5	NumberIndependentVotingMembers
Family Or Business Relationship	false	FamilyOrBusinessRelationship
Delegation Of Management Duties	false	DelegationOfManagementDuties
Changes To Organizing Docs	false	ChangesToOrganizingDocs
Material Diversion Or Misuse	false	MaterialDiversionOrMisuse
Members Or Stockholders	false	MembersOrStockholders
Election Of Board Members	false	ElectionOfBoardMembers
Decisions Subject To Approval	false	DecisionsSubjectToApproval
Minutes Of Governing Body	true	MinutesOfGoverningBody
Minutes Of Committees	true	MinutesOfCommittees
Officer Mailing Address	false	OfficerMailingAddress
Local Chapters	false	LocalChapters
Form990 Provided To Governing Body	true	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	true	ConflictOfInterestPolicy
Annual Disclosure Covered Persons	false	AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement	true	RegularMonitoringEnforcement
Whistleblower Policy	false	WhistleblowerPolicy
Document Retention Policy	false	DocumentRetentionPolicy
Compensation Process CEO	true	CompensationProcessCEO
Compensation Process Other	true	CompensationProcessOther
Investment In Joint Venture	false	InvestmentInJointVenture
States Where Copy Of Return Is Filed	OH	StatesWhereCopyOfReturnIsFiled
Upon Request	X	UponRequest

The Books Are In Care Of TheBooksAreInCareOf

Field	Value	IRS element (for citing)
Name Person	TODD GREATHOUSE	NamePerson
Telephone Number	2164204071	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	758 BOLIVAR ROAD	AddressLine1
City	CLEVELAND	City
State	OH	State
ZIP Code	44115	ZIPCode

Form990 Part VII Section A Form990PartVIISectionA (6 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Individual Trustee Or DirectorIndividualTrusteeOrDirector	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation	OfficerOfficer
WILLIAM REIDY
TRUSTEE-PART TIME	0.00	X	0	0	0
MATT CARROLL
TRUSTEE-PART TIME	0.00	X	0	0	0
TIMOTHY OFFTERMATT
CHAIRMAN-PART TIME	0.00	X	0	0	0
EMANUEL GLOVER
TRUSTEE-PART TIME	0.00	X	0	0	0
TRACEY NICHOLS
TRUSTEE-PART TIME	0.00	X	0	0	0
TODD GREATHOUSE
EXECUTIVE DIRECTOR	40.00		104755	0	0	X

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	104755	TotalReportableCompFromOrg
Number Individuals GT100 K	1	NumberIndividualsGT100K
Formers Listed	false	FormersListed
Total Comp GT150 K	false	TotalCompGT150K
Compensation From Other Sources	false	CompensationFromOtherSources

Contractor Compensation ContractorCompensation (5 entries)

Address Line1AddressOfContractor/AddressUS/AddressLine1	CityAddressOfContractor/AddressUS/City	StateAddressOfContractor/AddressUS/State	ZIP CodeAddressOfContractor/AddressUS/ZIPCode	Description Of ServicesDescriptionOfServices	CompensationCompensation
WALSH CONSTRUCTION
20745 GERMANTOWN ROAD	FAIRVIEW PARK	OH	44120	CONTRACTOR	380432
SECURITAS INC
PO BOX 413412	ATLANTA	GA	30384	SECURITY	653139
VOCATIONAL SERVICES
2239 E 55TH STREET	CLEVELAND	OH	44103	TEMPORARY LABOR	229464
CONCRETE MAINTENANCE INC
PO BOX 38247	OLMSTED FALLS	OH	44138	CONTRACTOR	237384
KENWOOD USA
3970 JOHNS CREEK COURT	SUWANNEE	GA	30024	CONTRACTOR	210214

Field	Value	IRS element (for citing)
Number Of Contractors GT100 K	5	NumberOfContractorsGT100K

Program Service Revenue ProgramServiceRevenue (3 entries)

DescriptionDescription	Business CodeBusinessCode	Total Revenue ColumnTotalRevenueColumn
BASE RENT	531120	8732723
PREMIUM SEAT REVENUE	531120	3148028
INCREMENTAL TRANS TAX	900099	1431854

Field	Value	IRS element (for citing)
Total Program Service Revenue	13312605	TotalProgramServiceRevenue

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	2564759	TotalRevenueColumn
Exclusion	$2,564,759	ExclusionAmount

Other Revenue Misc OtherRevenueMisc

Field	Value	IRS element (for citing)
Description	MISCELLANEOUS	Description
Business Code	900099	BusinessCode
Total Revenue Column	2628539	TotalRevenueColumn
Related Or Exempt Function Income	2628539	RelatedOrExemptFunctionIncome

Field	Value	IRS element (for citing)
Total Other Revenue	2628539	TotalOtherRevenue

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	18505903	TotalRevenueColumn
Related Or Exempt Function Income	15941144	RelatedOrExemptFunctionIncome
Exclusion	$2,564,759	ExclusionAmount

Comp Current Officers Directors CompCurrentOfficersDirectors

Field	Value	IRS element (for citing)
Total	104755	Total
Program Services	69872	ProgramServices
Management And General	34883	ManagementAndGeneral
Fundraising	0	Fundraising

Other Salaries And Wages OtherSalariesAndWages

Field	Value	IRS element (for citing)
Total	262212	Total
Program Services	174894	ProgramServices
Management And General	87318	ManagementAndGeneral
Fundraising	0	Fundraising

Other Employee Benefits OtherEmployeeBenefits

Field	Value	IRS element (for citing)
Total	107903	Total
Program Services	71971	ProgramServices
Management And General	35932	ManagementAndGeneral
Fundraising	0	Fundraising

Payroll Taxes PayrollTaxes

Field	Value	IRS element (for citing)
Total	41633	Total
Program Services	27758	ProgramServices
Management And General	13875	ManagementAndGeneral
Fundraising	0	Fundraising

Fees For Services Legal FeesForServicesLegal

Field	Value	IRS element (for citing)
Total	33333	Total
Program Services	8333	ProgramServices
Management And General	25000	ManagementAndGeneral
Fundraising	0	Fundraising

Fees For Services Accounting FeesForServicesAccounting

Field	Value	IRS element (for citing)
Total	18189	Total
Program Services	4547	ProgramServices
Management And General	13642	ManagementAndGeneral
Fundraising	0	Fundraising

Office Expenses OfficeExpenses

Field	Value	IRS element (for citing)
Total	97597	Total
Program Services	0	ProgramServices
Management And General	97597	ManagementAndGeneral
Fundraising	0	Fundraising

Conferences Meetings ConferencesMeetings

Field	Value	IRS element (for citing)
Total	840	Total
Program Services	0	ProgramServices
Management And General	840	ManagementAndGeneral
Fundraising	0	Fundraising

Interest Interest

Field	Value	IRS element (for citing)
Total	15811138	Total
Program Services	15811138	ProgramServices
Management And General	0	ManagementAndGeneral
Fundraising	0	Fundraising

Depreciation Depletion DepreciationDepletion

Field	Value	IRS element (for citing)
Total	8938134	Total
Program Services	8938134	ProgramServices
Management And General	0	ManagementAndGeneral
Fundraising	0	Fundraising

Other Expenses OtherExpenses (4 entries)

DescriptionDescription	TotalTotal	Program ServicesProgramServices	Management And GeneralManagementAndGeneral
AMORTIZATION	1124752	1124752	0
CONSULTING FEES	25854	6464	19390
BANK AND TRUSTEE FEES	13000	13000	0
SECURITY	735746	735746	0

All Other Expenses AllOtherExpenses

Field	Value	IRS element (for citing)
Total	9725562	Total
Program Services	9713343	ProgramServices
Management And General	12219	ManagementAndGeneral
Fundraising	0	Fundraising

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	37040648	Total
Program Services	36699952	ProgramServices
Management And General	340696	ManagementAndGeneral
Fundraising	0	Fundraising

Savings And Temp Cash Investments SavingsAndTempCashInvestments

Field	Value	IRS element (for citing)
BOY	6973964	BOY
EOY	6903079	EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Field	Value	IRS element (for citing)
BOY	20031	BOY
EOY	26831	EOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	434926453	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	299319054	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	145336224	BOY
EOY	135607399	EOY

Other Assets Total OtherAssetsTotal

Field	Value	IRS element (for citing)
BOY	2643373	BOY
EOY	2243372	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	154973592	BOY
EOY	144780681	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	62301604	BOY
EOY	68505872	EOY

Deferred Revenue DeferredRevenue

Field	Value	IRS element (for citing)
BOY	18310093	BOY
EOY	23170909	EOY

Tax Exempt Bond Liabilities TaxExemptBondLiabilities

Field	Value	IRS element (for citing)
BOY	9070000	BOY
EOY	6230000	EOY

Unsecured Notes Loans Payable UnsecuredNotesLoansPayable

Field	Value	IRS element (for citing)
BOY	228793041	BOY
EOY	228909791	EOY

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
BOY	240000	BOY
EOY	240000	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	318714738	BOY
EOY	327056572	EOY

Field	Value	IRS element (for citing)
Do Not Follow SFAS117	X	DoNotFollowSFAS117

Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds

Field	Value	IRS element (for citing)
BOY	-163741146	BOY
EOY	-182275891	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	-163741146	BOY
EOY	-182275891	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	154973592	BOY
EOY	144780681	EOY

Field	Value	IRS element (for citing)
Reconcilation Revenue Expenses	-18534745	ReconcilationRevenueExpenses
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	false	AccountantCompileOrReview
FS Audited	true	FSAudited

FS Audited Basis FSAuditedBasis

Field	Value	IRS element (for citing)
Financial Statement Separate	X	FinancialStatementSeparate

Field	Value	IRS element (for citing)
Audit Committee	true	AuditCommittee
Federal Grant Audit Required	false	FederalGrantAuditRequired

Schedule A IRS990ScheduleA

Field	Value	IRS element (for citing)
Publicly Supported Org170b1 Avi	X	PubliclySupportedOrg170b1Avi

Tax Rev Levied For Org Benefit170 TaxRevLeviedForOrgBenefit170

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	218515	CurrentTaxYearMinus4Years
Current Tax Year Minus2 Years	3075403	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	1425101	CurrentTaxYearMinus1Year
Current Tax Year	1431854	CurrentTaxYear
Total	6150873	Total

Total170 Total170

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	218515	CurrentTaxYearMinus4Years
Current Tax Year Minus2 Years	3075403	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	1425101	CurrentTaxYearMinus1Year
Current Tax Year	1431854	CurrentTaxYear
Total	6150873	Total

Field	Value	IRS element (for citing)
Public Support Total170	6150873	PublicSupportTotal170

Gross Investment Income170 GrossInvestmentIncome170

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	3857264	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	3504864	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	4446848	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	4310146	CurrentTaxYearMinus1Year
Current Tax Year	2564759	CurrentTaxYear
Total	18683881	Total

Field	Value	IRS element (for citing)
Total Support	24834754	TotalSupport
Public Support Pertcentage170	0.24770	PublicSupportPertcentage170
Public Support Pertcent Prior Year	0.20040	PublicSupportPertcentPriorYear
Ten Percent Test Current Year	X	TenPercentTestCurrentYear
Public Support Total509	0	PublicSupportTotal509
Public Support Percentage509	0	PublicSupportPercentage509
Investment Income Percentage	0	InvestmentIncomePercentage
Facts And Circumstances Test	PT II LINE 17A: 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.;	FactsAndCircumstancesTest

Schedule D IRS990ScheduleD

Land Land

Field	Value	IRS element (for citing)
Investment Cost Or Other Basis	23108049	InvestmentCostOrOtherBasis
Book Value	23108049	BookValue

Buildings Buildings

Field	Value	IRS element (for citing)
Investment Cost Or Other Basis	347950208	InvestmentCostOrOtherBasis
Depreciation	251914650	Depreciation
Book Value	96035558	BookValue

Equipment Equipment

Field	Value	IRS element (for citing)
Investment Cost Or Other Basis	201698	InvestmentCostOrOtherBasis
Depreciation	201698	Depreciation

Other Land Buildings OtherLandBuildings

Field	Value	IRS element (for citing)
Investment Cost Or Other Basis	63666498	InvestmentCostOrOtherBasis
Depreciation	47202706	Depreciation
Book Value	16463792	BookValue

Field	Value	IRS element (for citing)
Total Of Book Value Land Buildings	135607399	TotalOfBookValueLandBuildings

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
Description	REFUNDABLE DEPOSITS	Description
Amount	$240,000	Amount

Field	Value	IRS element (for citing)
Total Of Amounts	240000	TotalOfAmounts
Tot Revenue Etc Audited Fincl Stmt	18005903	TotRevenueEtcAuditedFinclStmt
Revenue Subtotal	18005903	RevenueSubtotal
Total Revenue Per Form990	18005903	TotalRevenuePerForm990
Tot Expenses Etc Audited Fincl Stmt	31948711	TotExpensesEtcAuditedFinclStmt
Expenses Subtotal	31948711	ExpensesSubtotal
Other Expenses Not Included	-1	OtherExpensesNotIncluded
Expenses Not Rptd On Fin Stmt	-1	ExpensesNotRptdOnFinStmt
Total Expenses Per Form990	31948710	TotalExpensesPerForm990

Schedule K IRS990ScheduleK

Form990 Schedule K Part I Form990ScheduleKPartI

Field	Value	IRS element (for citing)
Bond Reference	A	BondReferenceCd

Issuer Name IssuerName

Field	Value	IRS element (for citing)
Business Name Line1	GATEWAY ECONOMIC DEVELOPMENT	BusinessNameLine1

Field	Value	IRS element (for citing)
Issuer EIN	341650917	IssuerEIN
CUSIP Number	367599BH9	CUSIPNumber
Date Issued	2004-04-12	DateIssued
Issue Price	25635000	IssuePrice
Description Of Purpose	STADIUM REV REFUNDING 2004A	DescriptionOfPurpose
Defeased	false	Defeased
On Behalf Of Issuer	false	OnBehalfOfIssuer
Pool Financing	false	PoolFinancing

Form990 Schedule K Part II Form990ScheduleKPartII

Field	Value	IRS element (for citing)
Bond Reference	A	BondReferenceCd
Amount Retired	16329507	AmountRetired
Total Proceeds	25399507	TotalProceeds
Amount In Reserve Fund	3280754	AmountInReserveFund
Issuance Costs From Proceeds	468589	IssuanceCostsFromProceeds
Year Of Subst Completion	2004	YearOfSubstCompletion
Current Refunding	true	CurrentRefunding
Advance Refunding	false	AdvanceRefunding
Final Allocation Made	true	FinalAllocationMade
Adequate Books And Recds Maintaind	true	AdequateBooksAndRecdsMaintaind

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (7 entries)

IdentifierIdentifier	ExplanationExplanation
Pt VI, Line 12c	Ongoing review of directors and employees
Pt VI, Line 15b	Review performed by directors
Pt VI, Line 11b	Return is prepared by independent CPA firm and provided to Directors
Pt VI, Line 15a	Review performed by directors
Form 990EZ, Part II, Line 24	PREPAIDS INVESTMENTS INTEREST RECEIVABLE LUXURY TAX RECEIVABLE NAMING RIGHTS RECEIVABLE DEFERED COSTS, NET OF AMORTIZATION OTHER ASSETS
Form 990EZ, Part II, Line 26	ACCOUNTS PAYABLE & ACCRUED EXPENSES DEFERRED REVENUE BONDS, MORTGAGES & OTHER NOTES REFUNDABLE DEPOSITS
Form 990, Part IX, Line 24f	UTILITIES 120. 0. 120. 0. VEHICLE EXPENSES 7250. 7250. 0. 0. PARKING 9100. 9100. 0. 0. REPAIRS & MAINT-SITES 3546637. 3546637. 0. 0. CONTRACTUAL EXPENSES 1500000. 1500000. 0. 0. INSURANCE 23236. 19751. 3485. 0. ADMISSIONS TAX 3150301. 3150301. 0. 0. POSTAGE AND SHIPPING 679. 577. 102. 0. TELEPHONE EXPENSE 11350. 2838. 8512. 0. PROPERTY TAX 1476889. 1476889. 0. 0.