Manufacturing Advocacy & Growth Network Inc

Organization Overview

Manufacturing Advocacy & Growth Network Inc, operating under the name Magnet, is located in Cleveland, OH. The organization was established in 1985. According to its NTEE Classification (S11) the organization is classified as: Single Organization Support, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Magnet employed 71 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magnet 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 06/2021, Magnet generated $13.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $11.6m during the year ending 06/2021. While expenses have increased by 7.5% per year over the past 6 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO SUPPORT, EDUCATE AND CHAMPION MANUFACTURING IN OHIO.

Describe the Organization's Program Activity:

Part 3 - Line 4a

GROWTH SERVICES: MAGNET IS AN ORGANIZATION DEDICATED TO HELPING MANUFACTURERS GROW AND COMPETE IN 21 COUNTIES IN NORTHEAST OHIO. AS PART OF THE OHIO MANUFACTURING EXTENSION PARTNERSHIP (MEP), MAGNET PROVIDES CONSULTING AND ENGINEERING SERVICES TO NE OHIO SMALL AND MID-SIZED MANUFACTURERS. THESE SERVICES INCLUDING PROCESS INNOVATION, AUTOMATION, PRODUCT DESIGN AND DEVELOPMENT, QUALITY MANAGEMENT, COMMERCIALIZATION, SALES & MARKETING, CYBER SECURITY, OPERATIONS AND EMPLOYEE ENGAGEMENT, EMPLOYEE DEVELOPMENT AND RETENTION, TALENT PIPELINE, START-UP SERVICES AND MORE. MAGNET ALSO SUPPORTS, EDUCATES, AND CHAMPIONS NE OHIO MANUFACTURING.


WORK FORCE/ECEC: WORK FORCE FACILITATES PROGRAMS BETWEEN STUDENTS/ADULTS AND LOCAL MANUFACTURERS WHO TRAIN THEM IN MANUFACTURING CAREERS AND TECHNICAL CERTIFICATIONS.


INCUBATION CENTER: OUR GOAL TO ASSIST EARLY-STAGE, PRODUCT-FOCUSED BUSINESSES REACH MARKET ENTRY FASTER WITH REDUCED TECHNICAL RISK. THE INCUBATOR AT MAGNET OFFERS SUBJECT MATTER EXPERTISE, PARTNERSHIPS AND CONNECTIONS WITH PROFESSIONALS IN NORTHEAST OHIO, ALONG WITH ACCESS TO REGIONAL TECHNICAL ASSETS THAT AN ENTREPRENEUR MAY NEED TO BRING A VISION TO LIFE. INCUBATOR SERVICES INCLUDE THE AVAILABILITY OF HIGH QUALITY, SECURED OFFICE, MANUFACTURING, AND LAB SPACE AS WELL AS THE USE OF SHARED BUSINESS EQUIPMENT AND CONFERENCE ROOM WITH VERY COMPETITIVE LEASE TERMS.


GROWTH SERVICES: MAGNET IS AN ORGANIZATION DEDICATED TO HELPING MANUFACTURERS GROW AND COMPETE IN 21 COUNTIES IN NORTHEAST OHIO. AS PART OF THE OHIO MANUFACTURING EXTENSION PARTNERSHIP (MEP), MAGNET PROVIDES CONSULTING AND ENGINEERING SERVICES TO NE OHIO SMALL AND MID-SIZED MANUFACTURERS. THESE SERVICES INCLUDING PROCESS INNOVATION, AUTOMATION, PRODUCT DESIGN AND DEVELOPMENT, QUALITY MANAGEMENT, COMMERCIALIZATION, SALES & MARKETING, CYBER SECURITY, OPERATIONS AND EMPLOYEE ENGAGEMENT, EMPLOYEE DEVELOPMENT AND RETENTION, TALENT PIPELINE, START-UP SERVICES AND MORE. MAGNET ALSO SUPPORTS, EDUCATES, AND CHAMPIONS NE OHIO MANUFACTURING.


WORK FORCE/ECEC: WORK FORCE FACILITATES PROGRAMS BETWEEN STUDENTS/ADULTS AND LOCAL MANUFACTURERS WHO TRAIN THEM IN MANUFACTURING CAREERS AND TECHNICAL CERTIFICATIONS.


INCUBATION CENTER: OUR GOAL TO ASSIST EARLY-STAGE, PRODUCT-FOCUSED BUSINESSES REACH MARKET ENTRY FASTER WITH REDUCED TECHNICAL RISK. THE INCUBATOR AT MAGNET OFFERS SUBJECT MATTER EXPERTISE, PARTNERSHIPS AND CONNECTIONS WITH PROFESSIONALS IN NORTHEAST OHIO, ALONG WITH ACCESS TO REGIONAL TECHNICAL ASSETS THAT AN ENTREPRENEUR MAY NEED TO BRING A VISION TO LIFE. INCUBATOR SERVICES INCLUDE THE AVAILABILITY OF HIGH QUALITY, SECURED OFFICE, MANUFACTURING, AND LAB SPACE AS WELL AS THE USE OF SHARED BUSINESS EQUIPMENT AND CONFERENCE ROOM WITH VERY COMPETITIVE LEASE TERMS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Bialosky & Partners Architects Llc
Design/architect Firm For New Magnet Hea
$439,948
Greentarget Global Group Llc
Public Relations
$227,725
Chilcote Law Firm Llp
Legal Fees
$243,418
Bialosky & Partners Architects Llc
Design/architect Firm For New Magnet Hea
$439,948
Chilcote Law Firm Llp
Legal Fees
$243,418
South Shore Controls
Engineering
$161,566
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $8,324,037
All other contributions, gifts, grants, and similar amounts not included above$1,891,219
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$10,215,256
Total Program Service Revenue$3,011,195
Investment income $0
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $13,226,451

Grants Recieved

Over the last fiscal year, we have identified 11 grants that Manufacturing Advocacy & Growth Network Inc has recieved totaling $3,276,518.

Awarding OrganizationAmount
George Gund Foundation

Cleveland, OH

PURPOSE: CAPITAL CAMPAIGN.

$1,000,000
Cleveland Foundation

Cleveland, OH

PURPOSE: GENERAL SUPPORT

$965,500
Fund For Our Economic Future Of Northeast Ohio

Cleveland, OH

PURPOSE: JOB PREPARATION

$435,044
Timken Foundation Of Canton

Canton, OH

PURPOSE: BUILDING PROSPERITY: CAPITAL CAMPAIGN

$250,000
Nordson Corporation Foundation

Westlake, OH

PURPOSE: GENERAL OPERATING SUPPORT

$250,000
Missouri Incutech Foundation

Rolla, MO

PURPOSE: DEVELOPMENT

$195,974
View Grant Recipient Profile

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