Team NEO Foundation's mission is to enhance the economy of Northeast Ohio by collaborating with our Network Partners and others to attract new businesses, help those that are here grow and accelerate the impact of innovation in the region.

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
$1.9M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990-TIndependent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990-T
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average surplus $43K a year · under 1% of revenue · last 5 filings
Worth a look: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.9M
to officers and key staff · 24% of spending
Worth a look: pay to officers and key staff is 24% of spending; over 20%.
Pt VII · Sec A
3 mo
of spending, in cash
Fine: 2.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
11
named funders · $578K
Looks good: 11 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$897K
28% of total assets
Looks good: liabilities are 28% of assets; 50% or less.
Pt X · Ln 26
Independent board members
42
of 42 voting members
Looks good: 42 of 42 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$8.0M
+25% vs prior year
Spent
$8.0M
To programs
87%
Net assets
$2.3M
By yearFY2020–FY2024
Revenue
$8.0M
FY2022▲ +25%
Tap a bar for its year
Revenue by fiscal year
FY2020$6.3M
FY2021$6.4M
FY2022$8.0M
FY2023$8.0M
FY2024$8.0M
Expenses
$8.0M
FY2022▲ +24%
Tap a bar for its year
Expenses by fiscal year
FY2020$5.8M
FY2021$6.5M
FY2022$8.0M
FY2023$8.2M
FY2024$8.0M
Net assets
$2.3M
FY2022▼ -0.8%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.4M
FY2021$2.3M
FY2022$2.3M
FY2023$2.1M
FY2024$2.1M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2000.

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

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $7.0M Management & general 9% · $741K Fundraising 4% · $294K

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

56 people listed on the 990-T; $1.9M paid to officers and key staff.

Part VII, Section A · reportable compensation
$397,437Pt VII · Sec A
VP, Project Mgt, Site Strategies & Talent
$190,974Pt VII · Sec A
VP, Industry Advancement & Engagement
$171,718Pt VII · Sec A
Asst Secr/Treas
$169,405Pt VII · Sec A
VP, Strategy and Research
$168,532Pt VII · Sec A
VP, Investor Relations
$160,602Pt VII · Sec A
Managing Director, Global Business Development
$138,698Pt VII · Sec A
Managing Director, Project Management
$137,332Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
William Koehler$367,773$418,033$397,437$427,078$369,033
James Foran———$232,906$226,258
Christine Nelson$185,512$190,581$190,974$179,729$173,264
Steven Fritsch$170,582$179,922$171,718$142,483$133,196
Laura Hudak$168,540$176,034$169,405$161,815$160,028
Jacob Duritsky$175,969$174,959$168,532$142,655$134,312
Dawn Southard$157,863$172,642$160,602$144,360$128,155
Mark Owens$161,601$166,857$113,274——

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

Attracts new businesses, helps existing ones grow, and accelerates innovation to boost Northeast Ohio's economy.

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Provided by the organization

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3 programs · $6.4M · in their own filed words · FY2022
01

Growing Our Diverse Industry Base

Leverage our deep supply chain and partner relationships across the region's diverse industry base to drive innovation, integrate technology, develop new markets and create equitable opportunity for a highly-trained workforce.

$4.4Mprogram expense
02

Promote and Engage the Region

Telling stories, promoting assets and sharing data insights to advance Team NEO, lift our partners and improve Northeast Ohio's regional competitiveness and prosperity.

$1.3Mprogram expense
03

Grow a Pipeline of Competitive Sites

Impact the regional landscape through thoughtful commercial and industrial development in locations that are driving a competitive region and offering more equitable opportunities.

$618Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
See all 11 funders →

By the numbers

The FY2022 990-T, line by line.

1The main four
Money in
$8.0M
Gifts and grants$7.7M
Fees for services$184K
Other income$66K
Money out
$8.0M
Programs$7.0M
Management$741K
Fundraising$294K
Owns and owes
$2.3M
net assets
Cash and savings$1.9M
Total assets$3.2M
Liabilities$897K
People
56
listed
Paid11
Voting board42
Independent42
2In more detail
Revenue in detail
Gifts and grants$7.7M
Fees for services$184K
Investment income$332
Other income$66K
Total revenue$8.0M
Assets in detailEnd of year
Cash and savings together$1.9M
Total assets$3.2M
Liabilities$897K
Net assets$2.3M
Operations
Employees32
Volunteers0
Fiscal year endsDecember
Conflict-of-interest policyYes
Whistleblower policyYes
Records policyYes

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $8.0M$8.0M−$28K$2.1M 990 PDF
FY2023 $8.0M$8.2M−$248K$2.1M 990 PDF
FY2022 Viewing $8.0M$8.0M−$19K$2.3M 990 PDF
FY2021 $6.4M$6.5M−$72K$2.3M 990 PDF
FY2020 $6.3M$5.8M$581K$2.4M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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