University Circle Incorporated: Nonprofit Profile, Financials & Form 990 (EIN 34-0823464)

Revenue by fiscal year
FY2020	$10.3M
FY2021	$18.5M
FY2022	$18.1M
FY2023	$9.2M
FY2024	$9.3M
FY2025	$13.3M

Expenses by fiscal year
FY2020	$11.6M
FY2021	$16.8M
FY2022	$19.0M
FY2023	$11.2M
FY2024	$10.6M
FY2025	$11.0M

Net assets by fiscal year
FY2020	$38.2M
FY2021	$45.7M
FY2022	$40.6M
FY2023	$42.3M
FY2024	$43.1M
FY2025	$46.4M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1958.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

80 cents of each dollar spent went to programs.

80%

16%

Program services 80% · $8.8M Management & general 16% · $1.7M Fundraising 4% · $453K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

67 people listed on the 990; $1.0M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Kate Borders

President

$252,942Pt VII · Sec A

Dean Parker

Chief Financial Officer

$196,638Pt VII · Sec A

Elise Yablonsky

Chief Place Management Officer

$143,728Pt VII · Sec A

Cherie Bandy

Chief of Staff Through 5/14

$120,954Pt VII · Sec A

Kurtis Keeper

Sergeant

$115,262Pt VII · Sec A

Alanna Smith

Captain

$103,738Pt VII · Sec A

Thomas Wetzel

Chief of Police

$102,530Pt VII · Sec A

Chris Goodrich

Trustee

$0Pt VII · Sec A

Kate Borders’s $253K as President is at the 45th percentile of top reported officer pay among 572 $10–100M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Mr Christopher S Ronayne	—	—	—	$266,642	$231,885	$228,777
Kate Borders	$252,942	$190,280	—	—	—	—
Gary L Hanson	—	$123,508	$231,711	$60,441	—	—
Dean Parker	$196,638	—	—	—	—	—
John Morrison	—	$189,507	—	—	—	—
Christopher S Ronayne	—	—	$178,833	—	—	—
Dean M Parker	—	$154,168	$158,761	—	—	—
Ms Debbie Berry	—	—	—	$155,029	—	—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Connects people to Cleveland's cultural district through free public festivals, community engagement programs, and events that activate public spaces and promote regional belonging.

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Provided by the organization

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3 programs · $7.6M · in their own filed words · FY2024

01

Safety Through Relationships

The university circle police department (ucpd) supports a safe and welcoming district through a community policing model grounded in trust and engagement. Ucpd emphasizes safety by building relationships, prioritizing consistent presence, and opening dialogue with residents, employees, students, and VISITORS.UCPD services are supported…

$4.1Mprogram expense

02

Place Management

University circle incorporated serves as the primary steward of the public realm of university circe through advocacy or direct improvement, and is the implementing agent of a legacy land bank concept whereby real estate situated within university circle and may be acquired and held until its reuse or development occurs.

$2.2Mprogram expense

03

Community Programs, Events, and Engagement

University circle inc. Produces free public festivals and programs that promote university circle as a cultural destination while expanding access, participation, and belonging for residents and regional visitors.

$1.4Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2025

Holden Parks TrFY2025$341K

James and Susan Ratner Family FoundationFY2025$25K

Total grants receivedfrom 2 funders$366K

Grants paid · 9 grants · $355K · 2019–2024

Assembly for ActionOH · FY2024$10,000

City of ClevelandFY2023$13,160

City of ClevelandFY2022$161,330

Unitemized GrantFY2022$17,328

Cleveland Museum of ArtOH · FY2021$50,000

Unitemized GrantFY2021$22,250

Unitemized GrantFY2020$24,162

Midtown ClevelandOH · FY2020$6,000

Unitemized GrantFY2019$50,406

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$13.3M

Ln 12

Fees for servicesLn 2g$6.1M

Investment incomeLn 3$3.9M

Gifts and grantsLn 1h$3.3M

Money outPt IX

$11.0M

Ln 25

Programscol B$8.8M

Managementcol C$1.7M

Fundraisingcol D$453K

Owns and owesPt X

$46.4M

net assets · Ln 32

Cash and savingsLn 1–2$4.2M

Total assetsLn 16$51.3M

LiabilitiesLn 26$4.9M

PeoplePt VI, VII

67

listed · VII A

PaidVII A7

Voting boardVI 1a60

IndependentVI 1b60

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$3.3M

Government grantsLn 1e$12K

Noncash giftsLn 1g$78K

Fees for servicesLn 2g$6.1M

Investment incomeLn 3$3.9M

Gains on assetsLn 7$2.3M

Total revenueLn 12$13.3M

Assets in detailPt X, end of year

CashLn 1$196K

SavingsLn 2$4.1M

Cash and savings togetherLn 1–2$4.2M

InvestmentsLn 11–13$26.4M

Land, buildings, equipmentLn 10c$13.5M

Other assetsLn 15$1.9M

Total assetsLn 16$51.3M

LiabilitiesLn 26$4.9M

Net assetsLn 32$46.4M

OperationsPt I, VI

EmployeesI 581

VolunteersI 669

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$8.9M	$4.2M
InvestmentsLn 11–13	$26.4M	$26.4M
Land, buildings, equipmentLn 10c	$13.8M	$13.5M
Total assetsLn 16	$54.1M	$51.3M
LiabilitiesLn 26	$11.1M	$4.9M
Net assetsLn 32	$43.1M	$46.4M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$16K	$16K
Grants to domestic individualsLn 2	$3K	$3K
Pay of current officers, directors and key staffLn 5	$652K	$562K	$62K	$28K
Other salaries and wagesLn 7	$3.5M	$3.0M	$333K	$154K
Pension plan contributionsLn 8	$266K	$229K	$25K	$12K
Other employee benefitsLn 9	$962K	$829K	$91K	$42K
Payroll taxesLn 10	$343K	$295K	$32K	$15K
Management feesLn 11a	$801	$801
Legal feesLn 11b	$243K	$216K	$26K	$931
Accounting feesLn 11c	$45K	$40K	$5K	$171
Lobbying feesLn 11d	$72K	$72K
Investment management feesLn 11f	$181K		$181K
Other fees for servicesLn 11g	$949K	$717K	$90K	$142K
Advertising and promotionLn 12	$171K	$155K	$194	$16K
Office expensesLn 13	$125K	$58K	$67K	$534
Information technologyLn 14	$268K	$154K	$91K	$23K
OccupancyLn 16	$979K	$838K	$141K	$25
TravelLn 17	$91K	$86K	$3K	$2K
Conferences, conventions and meetingsLn 19	$95K	$92K	$1K	$1K
InterestLn 20	$401K	$8K	$393K
Depreciation, depletion and amortizationLn 22	$258K	$246K	$12K
InsuranceLn 23	$529K	$447K	$81K
Other expenses (24a–d)Ln 24	$786K	$685K	$84K	$17K
Total functional expensesLn 25	$11.0M	$8.8M	$1.7M	$453K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$13.3M	$11.0M	$2.3M	$46.4M	990 PDF
FY2024	$9.3M	$10.6M	−$1.3M	$43.1M	990 PDF
FY2023	$9.2M	$11.2M	−$2.0M	$42.3M	990 PDF
FY2022	$18.1M	$19.0M	−$868K	$40.6M	990 PDF
FY2021	$18.5M	$16.8M	$1.7M	$45.7M	990 PDF
FY2020	$10.3M	$11.6M	−$1.3M	$38.2M	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2025 990 (6 parts)

Part I · Summary $13,299,860 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $1,753,818$3,310,176

I-9 Program service revenuePrior year $6,351,396$6,149,804

I-10 Investment incomePrior year $1,081,818$3,850,744

I-11 Other revenuePrior year $106,805−$10,864

I-12 Total revenuePrior year $9,293,837$13,299,860

I-13 Grants and similar amounts paidPrior year $13,160$18,666

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $5,631,851$5,749,690

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $4,920,749$5,193,903

I-18 Total expensesPrior year $10,565,760$10,962,259

I-19 Revenue less expensesPrior year −$1,271,923$2,337,601

Part VI · Governance 60 of 60 board members independent, no flags

VI-1a Voting members of the governing body60

VI-1b Independent voting members60

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $13,299,860 across 10 lines filed

VIII-1d Related organizations$254,833

VIII-1e Government grants$11,824

VIII-1f All other contributions, gifts and grants$3,043,519

VIII-1g Noncash contributions (included above)$78,440

VIII-1h Total contributions, gifts and grants$3,310,176

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $6,149,804$6,149,804

VIII-3 Investment incomeExcluded from tax $1,535,917$1,535,917

VIII-7 Net gain or loss on sales of assetsExcluded from tax $2,314,827$2,314,827

VIII-8 Net income from fundraising eventsExcluded from tax −$10,864−$10,864

VIII-12 Total revenueRelated to mission $6,149,804 · Unrelated business $0 · Excluded from tax $3,839,880$13,299,860

Part IX · Statement of functional expenses $10,962,259 across 23 lines filed

IX-1 Grants to domestic organizationsPrograms $15,877$15,877

IX-2 Grants to domestic individualsPrograms $2,789$2,789

IX-5 Pay of current officers, directors and key staffPrograms $562,407 · Management $61,530 · Fundraising $28,470$652,407

IX-7 Other salaries and wagesPrograms $3,040,749 · Management $332,671 · Fundraising $153,930$3,527,350

IX-8 Pension plan contributionsPrograms $229,060 · Management $25,060 · Fundraising $11,596$265,716

IX-9 Other employee benefitsPrograms $828,939 · Management $90,689 · Fundraising $41,963$961,591

IX-10 Payroll taxesPrograms $295,360 · Management $32,314 · Fundraising $14,952$342,626

IX-11a Management feesPrograms $801$801

IX-11b Legal feesPrograms $216,120 · Management $26,300 · Fundraising $931$243,351

IX-11c Accounting feesPrograms $39,604 · Management $4,819 · Fundraising $171$44,594

IX-11d Lobbying feesPrograms $72,000$72,000

IX-11f Investment management feesManagement $181,071$181,071

IX-11g Other fees for servicesPrograms $716,689 · Management $90,207 · Fundraising $142,448$949,344

IX-12 Advertising and promotionPrograms $155,205 · Management $194 · Fundraising $15,537$170,936

IX-13 Office expensesPrograms $57,612 · Management $66,855 · Fundraising $534$125,001

IX-14 Information technologyPrograms $154,335 · Management $91,075 · Fundraising $22,819$268,229

IX-16 OccupancyPrograms $838,445 · Management $140,625 · Fundraising $25$979,095

IX-17 TravelPrograms $86,407 · Management $2,589 · Fundraising $1,531$90,527

IX-19 Conferences, conventions and meetingsPrograms $91,841 · Management $1,429 · Fundraising $1,432$94,702

IX-20 InterestPrograms $8,002 · Management $393,447$401,449

IX-22 Depreciation, depletion and amortizationPrograms $245,938 · Management $12,464$258,402

IX-23 InsurancePrograms $447,320 · Management $81,182$528,502

IX-24 Other expenses (24a–d)Programs $684,998 · Management $83,827 · Fundraising $17,074$785,899

IX-25 Total functional expensesPrograms $8,790,498 · Management $1,718,348 · Fundraising $453,413$10,962,259

Part X · Balance sheet $51,283,947 assets, 18 lines filed

Asset lines not itemized here account for $2,359,771; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $182,638$195,534

X-2 Savings and temporary cash investmentsStart of year $8,747,142$4,051,370

X-3 Pledges and grants receivableStart of year $679,552$1,151,779

X-4 Accounts receivableStart of year $937,413$1,522,686

X-9 Prepaid expenses and deferred chargesStart of year $200,111$175,107

X-10c Land, buildings and equipment, netStart of year $13,819,855$13,515,765

X-12 Other securitiesStart of year $16,737,801$17,216,415

X-13 Program-related investmentsStart of year $9,655,430$9,191,703

X-15 Other assetsStart of year $2,108,789$1,903,817

X-16 Total assetsStart of year $54,126,010$51,283,947

X-17 Accounts payable and accrued expensesStart of year $2,677,222$1,519,712

X-19 Deferred revenueStart of year $811,090$690,967

X-25 Other liabilitiesStart of year $101,488$30,673

X-26 Total liabilitiesStart of year $11,052,286$4,892,108

X-27 Net assets without donor restrictionsStart of year $17,356,409$19,477,655

X-28 Net assets with donor restrictionsStart of year $25,717,315$26,914,184

X-32 Total net assets or fund balancesStart of year $43,073,724$46,391,839

X-33 Total liabilities and net assetsStart of year $54,126,010$51,283,947

Part XI · Reconciliation of net assets $46,391,839 net assets at year end

XI-1 Total revenue$13,299,860

XI-2 Total expenses$10,962,259

XI-3 Revenue less expenses$2,337,601

XI-4 Net assets at start of year$43,073,724

XI-5 Net unrealized gains (losses) on investments$1,001,601

XI-9 Other changes in net assets−$21,087

XI-10 Net assets at end of year$46,391,839

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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