Attach to Form 990 or Form 990-EZ.
Go to
www.irs.gov/Form990 for instructions and the latest information.
| (i) Name of supported organization | (ii) EIN | (iii) Type of organization (described on lines 1- 10 above (see instructions)) | (iv) Is the organization listed in your governing document? | (v) Amount of monetary support (see instructions) | (vi) Amount of other support (see instructions) | |
|---|---|---|---|---|---|---|
| Yes | No | |||||
|
Total |
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Calendar year
(or fiscal year beginning in)
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(a) 2017 | (b) 2018 | (c) 2019 | (d) 2020 | (e) 2021 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") .. | ||||||
| 2 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.... | ||||||
| 3 | The value of services or facilities furnished by a governmental unit to the organization without charge.. | ||||||
| 4 | Total. Add lines 1 through 3 | ||||||
| 5 | The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f) .. | ||||||
| 6 | Public support. Subtract line 5 from line 4. | ||||||
Calendar year
(or fiscal year beginning in)
![]() |
(a) 2017 | (b) 2018 | (c) 2019 | (d) 2020 | (e) 2021 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 7 | Amounts from line 4.. | ||||||
| 8 | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources... | ||||||
| 9 | Net income from unrelated business activities, whether or not the business is regularly carried on.. | ||||||
| 10 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.).. | ||||||
| 11 | Total support. Add lines 7 through 10 | ||||||
Calendar year (or fiscal year beginning in) ![]() |
(a) 2017 | (b) 2018 | (c) 2019 | (d) 2020 | (e) 2021 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") . | 4,250 | 2,063,912 | 5,690,901 | 170,200 | 2,383,265 | 10,312,528 |
| 2 | Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | 2,175,386 | 2,051,201 | 2,171,151 | 2,709,408 | 2,650,803 | 11,757,949 |
| 3 | Gross receipts from activities that are not an unrelated trade or business under section 513 ..... | ||||||
| 4 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf... | ||||||
| 5 | The value of services or facilities furnished by a governmental unit to the organization without charge | ||||||
| 6 | Total. Add lines 1 through 5 | 2,179,636 | 4,115,113 | 7,862,052 | 2,879,608 | 5,034,068 | 22,070,477 |
| 7a | Amounts included on lines 1, 2, and 3 received from disqualified persons | 0 | |||||
| b | Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year. | 0 | |||||
| c | Add lines 7a and 7b.. | 0 | |||||
| 8 | Public support. (Subtract line 7c from line 6.) | 22,070,477 | |||||
Calendar year (or fiscal year beginning in) ![]() |
(a) 2017 | (b) 2018 | (c) 2019 | (d) 2020 | (e) 2021 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 9 | Amounts from line 6... | 2,179,636 | 4,115,113 | 7,862,052 | 2,879,608 | 5,034,068 | 22,070,477 |
| 10a | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources.. | 17,090 | 61,014 | 73,278 | 29,024 | 4,361 | 184,767 |
| b | Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975. | ||||||
| c | Add lines 10a and 10b. | 17,090 | 61,014 | 73,278 | 29,024 | 4,361 | 184,767 |
| 11 | Net income from unrelated business activities not included on line 10b, whether or not the business is regularly carried on. | ||||||
| 12 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) .. | 49 | 107,779 | 4,600 | 112,428 | ||
| 13 | Total support. (Add lines 9, 10c, 11, and 12.).. | 2,196,775 | 4,283,906 | 7,935,330 | 2,913,232 | 5,038,429 | 22,367,672 |
| Section A - Adjusted Net Income | (A) Prior Year |
(B) Current Year (optional) |
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| 1 | Net short-term capital gain | 1 | ||||
| 2 | Recoveries of prior-year distributions | 2 | ||||
| 3 | Other gross income (see instructions) | 3 | ||||
| 4 | Add lines 1 through 3 | 4 | ||||
| 5 | Depreciation and depletion | 5 | ||||
| 6 | Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) | 6 | ||||
| 7 | Other expenses (see instructions) | 7 | ||||
| 8 | Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) | 8 | ||||
| Section B - Minimum Asset Amount | (A) Prior Year |
(B) Current Year (optional) |
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| 1 | Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): | 1 | ||||
| a | Average monthly value of securities | 1a | ||||
| b | Average monthly cash balances | 1b | ||||
| c | Fair market value of other non-exempt-use assets | 1c | ||||
| d | Total (add lines 1a, 1b, and 1c) | 1d | ||||
| e |
Discount claimed for blockage or other factors (explain in detail in Part VI): |
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| 2 | Acquisition indebtedness applicable to non-exempt use assets | 2 | ||||
| 3 | Subtract line 2 from line 1d | 3 | ||||
| 4 | Cash deemed held for exempt use. Enter 0.015 of line 3 (for greater amount, see instructions). | 4 | ||||
| 5 | Net value of non-exempt-use assets (subtract line 4 from line 3) | 5 | ||||
| 6 | Multiply line 5 by 0.035 | 6 | ||||
| 7 | Recoveries of prior-year distributions | 7 | ||||
| 8 | Minimum Asset Amount (add line 7 to line 6) | 8 | ||||
| Section C - Distributable Amount | Current Year | |||||
| 1 | Adjusted net income for prior year (from Section A, line 8, Column A) | 1 | ||||
| 2 | Enter 85% of line 1 | 2 | ||||
| 3 | Minimum asset amount for prior year (from Section B, line 8, Column A) | 3 | ||||
| 4 | Enter greater of line 2 or line 3 | 4 | ||||
| 5 | Income tax imposed in prior year | 5 | ||||
| 6 | Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) | 6 | ||||
| Section D - Distributions | Current Year | |
|---|---|---|
| 1 Amounts paid to supported organizations to accomplish exempt purposes | 1 | |
|
2
Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity |
2 | |
| 3 Administrative expenses paid to accomplish exempt purposes of supported organizations | 3 | |
| 4 Amounts paid to acquire exempt-use assets | 4 | |
| 5 Qualified set-aside amounts (prior IRS approval required - provide details in Part VI) | 5 | |
| 6 Other distributions (describe in Part VI). See instructions | 6 | |
| 7Total annual distributions. Add lines 1 through 6. | 7 | |
|
8
Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions |
8 | |
| 9 Distributable amount for 2021 from Section C, line 6 | 9 | |
| 10 Line 8 amount divided by Line 9 amount | 10 | |
| Section E - Distribution Allocations (see instructions) |
(i) Excess Distributions |
(ii) Underdistributions Pre-2021 |
(iii) Distributable Amount for 2021 |
|
|---|---|---|---|---|
| 1 Distributable amount for 2021 from Section C, line 6 | ||||
|
2
Underdistributions, if any, for years prior to 2021 (reasonable cause required-- explain in Part VI). See instructions. |
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| 3 Excess distributions carryover, if any, to 2021: | ||||
| a From 2016....... | ||||
| b From 2017....... | ||||
| c From 2018....... | ||||
| d From 2019....... | ||||
| e From 2020....... | ||||
| fTotal of lines 3a through e | ||||
| g Applied to underdistributions of prior years | ||||
| h Applied to 2021 distributable amount | ||||
|
i
Carryover from 2016 not applied (see instructions) |
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| j Remainder. Subtract lines 3g, 3h, and 3i from line 3f. | ||||
| 4Distributions for 2021 from Section D, line 7: | ||||
| $ | ||||
| a Applied to underdistributions of prior years | ||||
| b Applied to 2021 distributable amount | ||||
| c Remainder. Subtract lines 4a and 4b from line 4. | ||||
|
5
Remaining underdistributions for years prior to 2021, if any. Subtract lines 3g and 4a from line 2. If the amount is greater than zero, explain in Part VI. See instructions. |
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|
6
Remaining underdistributions for 2021. Subtract lines 3h and 4b from line 1. If the amount is greater than zero, explain in Part VI. See instructions. |
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7 Excess distributions carryover to 2022. Add lines 3j and 4c. |
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| 8 Breakdown of line 7: | ||||
| a Excess from 2017..... | ||||
| b Excess from 2018..... | ||||
| c Excess from 2019..... | ||||
| d Excess from 2020..... | ||||
| e Excess from 2021..... | ||||
| Facts And Circumstances Test |
|---|
| Return Reference | Explanation |
|---|---|
| Schedule A, Part III, Line 12, Explanation of Other Income: | Other revenue - 2017 Amount: $ 49. 2018 Amount: $ 107,779. 2019 Amount: $ 0. 2020 Amount: $ 4,600. 2021 Amount: $ 0. |
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Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| Form 990, Part III, line 2 | Through the work and experience CDA-CRF has focused on since 2019 as part of the Opportunity CLE Neighborhood Collaborative, significant gaps in Cleveland's development ecosystem have been highlighted, especially for emerging developers of color. In 2021, CDA-CRF focused on building its own development services platform, known as CDA's Advancing Equitable Development Program, which will help to promote equitable development through the following ways i) educate and train new and diverse community based developers to build capacity; ii) guide and mentor emerging and underserved developers with their projects directly through third party experts, which would include financial support to pay for the third party experts; and iii) provide financial products that will provide predevelopment access to capital to combat racial wealth gap. |
| Form 990, Part VI, Section A, line 3 | The Organization has entered into a Management Agreement with The Greater Cleveland Partnership (GCP) to provide professional staffing, office space, back office services, and IT services for the day to day operating needs of the organization. The following officers were employees of GCP and therefore were compensated by GCP as employees during 2021: - Yvette M. Ittu, President. Ms. Ittu received $39,174 of reportable compensation and $6,150 of other compensation from GCP for services provided to the organization. -Joseph D. Roman, Second Vice Chairman. Mr. Roman receives compensation as an employee of GCP, but serves on the board of the Organization in the same capacity as all other volunteer board members. - Debra Janik, Treasurer. Ms. Janik receives compensation as an employee of GCP, but serves on the board of the Organization in the same capacity as all other volunteer board members. |
| Form 990, Part VI, Section A, line 6 | The Organization's sole member is Cleveland Development Advisors, Inc. (CDA). |
| Form 990, Part VI, Section A, line 7a | The CDA Board Members and Officers serve as the Directors and Officers of the Organization. |
| Form 990, Part VI, Section B, line 11b | Staff, in conjunction with tax preparers, compiles the information needed to complete the Form 990. Upon completion, management conducts a detailed review of the return and makes final adjustments, if necessary. The returns are provided to the Audit Committee for detailed review and comment. The final version of the Form 990 is provided 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 organization are expected to maintain the highest ethical standards in conducting the business of the Organization. The board and staff conflict of interest policies are intended to provide clear guidance to ensure that the Organization'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 members of the Governance Committee shall make a determination as to whether a conflict exists and what subsequent action, if any, is appropriate. The Governance 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 President and/or 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. |
| Form 990, Part VI, Section C, line 19 | No documents are made available to the public. The organization provides information upon request by the public. |
| Form 990, Part IX, Line 11a: | The expenses under Line 11a, Management, represent the expenses incurred by Greater Cleveland Partnership ("GCP"), an Ohio non-profit corporation that is a section 501(c)(6) organization. CDA-CRF has contracted with GCP to assist it in providing management services for day to day operations including employees, facility space, IT, computers, etc. |
| Form 990, Part IX, Line 11g: | The expenses listed under line 11g represent consulting expenses paid to various companies, none of which exceeded $100,000. |
| Form 990, Part XII: | Line 2(b): The Organization has an independent audit completed by independent accountants approved by the Board of Directors. The audit is prepared on a consolidated basis, which includes the combined activity of the Organization and the activity of Cleveland New Markets Investment Fund II, LLC (CNMIF II). On July 31, 2017, the organization became a 99.9% owner of CNMIF II, which requires the consolidation of CNMIF II under GAPP. The audit includes supplemental schedules breaking out the activity between the Organization and CNMIF II. Line 2(c): Audit Committee Role: The organization has established an Audit, Finance and Compliance committee for oversight of audits and independent accountants. The committee is responsible for the oversight of the audit and selection of the independent accountants each year. Line 3(a) & 3(b) In 2021, CDA-CRF received two federal awards from the Community Development Financial Institutions Fund (CDFI Fund) totaling $2,383,265. This includes $1,826,265 from CDFI Fund Rapid Responses Program and $557,000 from CDFI Financial Assistance Program. CDA-CRF did expense more than $750,000 of federal awards in 2021 and as a result, CDA-CRF was required to have a Single Audit as required by the Uniform Guidance. The audit was conducted by independent auditor in accordance with Government Auditing Standards (GAAS) and the Uniform Guidance. |
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