Midtown Cleveland
- Assets
- $3.9m
- Revenue
- $1.8m
- Investments
- $513.6k
- Employees
- 20
- Location
- Cleveland, OH
- Founding
- 05/1983
- Data as of
- 12/2022
- EIN
- 34-1381334
Organization Overview
Midtown Cleveland is located in Cleveland, OH. The organization was established in 1983. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Midtown Cleveland employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midtown Cleveland is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Midtown Cleveland generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $1.8m during the year ending 12/2022. While expenses have increased by 14.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
MIDTOWN CLEVELAND, INC. LEVERAGES ITS DIVERSE ASSETS TO (CONTINUED ON SCHEDULE O)CREATE A DYNAMIC NEIGHBORHOOD THAT UNITES CLEVELAND'S DOWNTOWN AND INNOVATION DISTRICTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MIDTOWN CLEVELAND, INC. IS A DYNAMIC AND HIGH PERFORMING 501(C)(3) ECONOMIC AND COMMUNITY DEVELOPMENT CORPORATION WHOSE VISION IS OF A CONNECTED COMMUNITY IN THE CENTER OF IT ALL, AN INCLUSIVE PLACE FOR PEOPLE TO LIVE, CREATE, PROSPER AND GROW. MIDTOWN HAS WORKED WITH STRATEGIC PARTNERS TO USHER IN REMARKABLE GROWTH AND TRANSFORMATION OVER THE PAST SEVERAL YEARS, ATTRACTING MORE BUSINESSES, NONPROFITS, RESIDENTS, AND INSTITUTIONS TO THE NEIGHBORHOOD, STIMULATING DEVELOPMENT AND HELPING CHANGE THE AREA FROM A PASS-THROUGH TO A PLACE WITH A TANGIBLE FOCUS ON COMMUNITY EMPOWERMENT AND EQUITABLE DEVELOPMENT. MIDTOWN PLANNED OVER 50 EVENTS AND PROGRAMS TO BUILD COMMUNITY, ADDED PUBLIC ART TO THE NEIGHBORHOOD, PROVIDED SUPPORT TO INDIVIDUALS AND BUSINESSES STRUGGLING DURING (CONTINUED ON SCHEDULE O) COVID, AND CONTINUED TO ATTRACT DEVELOPMENT TO THE NEIGHBORHOOD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erika Anthony Member | Trustee | 2 | $0 |
Lloyd Bell Member | Trustee | 2 | $0 |
Bob Brown Member | Trustee | 2 | $0 |
Maria Campanelli Member | Trustee | 2 | $0 |
Michele Crawford Member | Trustee | 2 | $0 |
Brenden Dalzell Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $466,890 |
| Fundraising events | $34,000 |
| Related organizations | $0 |
| Government grants | $199,611 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,083,641 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,784,142 |
| Total Program Service Revenue | $0 |
| Investment income | $64 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,088 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$2,428 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,800,353 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $136,267 |
| Compensation of current officers, directors, key employees. | $20,440 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $495,222 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $32,737 |
| Payroll taxes | $52,974 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $37,364 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $175,708 |
| Advertising and promotion | $50,155 |
| Office expenses | $17,452 |
| Information technology | $22,438 |
| Royalties | $0 |
| Occupancy | $102,616 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $53,111 |
| Interest | $2,393 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,728 |
| Insurance | $9,485 |
| All other expenses | $0 |
| Total functional expenses | $1,771,209 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,998,669 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $517,718 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $720,767 |
| Net Land, buildings, and equipment | $99,084 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $513,624 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,114 |
| Total assets | $3,862,976 |
| Accounts payable and accrued expenses | $67,198 |
| Grants payable | $0 |
| Deferred revenue | $73,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $65,812 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $958,460 |
| Total liabilities | $1,164,470 |
| Net assets without donor restrictions | $1,790,747 |
| Net assets with donor restrictions | $907,759 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,862,976 |