GOLD2023

College Now Greater Cleveland, Inc.

Cleveland, OH   |  www.collegenowgc.org
GuideStar Charity Check

College Now Greater Cleveland, Inc.

EIN: 34-6580096


Mission

College Now Greater Cleveland’s mission is to increase college attainment through college access and college success advising; financial aid counseling; and scholarship and retention services. We envision a future in which all members of our community will have the support they need to successfully complete their postsecondary education, lead more satisfying and productive lives and contribute to the region’s economic vitality.

Ruling year info

1967

Principal Officer

Ms. Lee A. Friedman

Main address

1500 W 3rd St Ste 125

Cleveland, OH 44113 USA

Show more contact info

Formerly known as

Cleveland Scholarship Programs, Inc. (CSP)

EIN

34-6580096

Subject area info

Higher education

Human services

Population served info

Children and youth

Adults

NTEE code info

Human Service Organizations (P20)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Tax forms

Communication

Blog

Programs and results

What we aim to solve

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Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

College Access Advising, Financial Aid Counseling, Scholarships & Retention Services

We provide services to 31,000 people across five Northeast Ohio counties.

Population(s) Served
Adults
Children and youth

Where we work

External assessments

Evaluated via the Impact Genome Project (2019)

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Number of high school graduates who are persisting in college

This metric is no longer tracked.
Totals By Year
Related Program

College Access Advising, Financial Aid Counseling, Scholarships & Retention Services

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

The high school students we served in one-on-one sessions matriculated to college in 2021 at an average rate of 60% (a hard-won increase from 2020’s 53% and near the 2019 pre-COVID rate of 61%

Number of scholars who earn a Bachelor's degree

This metric is no longer tracked.
Totals By Year
Related Program

College Access Advising, Financial Aid Counseling, Scholarships & Retention Services

Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Increasing

Context Notes

College Now’s traditional scholarship awardees, students with high financial need and academic capability, have an average graduation rate, pre-pandemic, of 71%.

Number of adult learners enrolled

This metric is no longer tracked.
Totals By Year
Related Program

College Access Advising, Financial Aid Counseling, Scholarships & Retention Services

Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Increasing

Context Notes

College Now’s adult learner scholarship recipients have a three-year average graduation rate of 71%, significantly higher than the national average of adult learners ages 24+ (51%).

Financials

College Now Greater Cleveland, Inc.
Fiscal year: Aug 01 - Jul 31

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2021 info

SOURCE: IRS Form 990

4.09

Average of 5.13 over 10 years

Months of cash in 2021 info

SOURCE: IRS Form 990

5.3

Average of 5.3 over 10 years

Fringe rate in 2021 info

SOURCE: IRS Form 990

22%

Average of 19% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

Source: IRS Form 990 info

College Now Greater Cleveland, Inc.

Revenue & expenses

Fiscal Year: Aug 01 - Jul 31

SOURCE: IRS Form 990

Fiscal year ending: cloud_download Download Data

College Now Greater Cleveland, Inc.

Balance sheet

Fiscal Year: Aug 01 - Jul 31

SOURCE: IRS Form 990

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

College Now Greater Cleveland, Inc.

Financial trends analysis Glossary & formula definitions

Fiscal Year: Aug 01 - Jul 31

SOURCE: IRS Form 990

This snapshot of College Now Greater Cleveland, Inc.’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

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Business model indicators

Profitability info 2017 2018 2019 2020 2021
Unrestricted surplus (deficit) before depreciation $628,396 $374,900 $159,480 $1,031,689 $1,718,166
As % of expenses 5.1% 3.1% 1.2% 6.4% 10.1%
Unrestricted surplus (deficit) after depreciation $566,629 $325,450 $74,016 $936,823 $1,641,936
As % of expenses 4.5% 2.7% 0.5% 5.8% 9.6%
Revenue composition info
Total revenue (unrestricted & restricted) $12,291,852 $12,790,280 $14,197,853 $16,715,812 $18,465,003
Total revenue, % change over prior year 6.7% 4.1% 11.0% 17.7% 10.5%
Program services revenue 8.5% 8.0% 8.8% 7.2% 6.3%
Membership dues 0.0% 0.0% 0.0% 0.0% 0.0%
Investment income 2.2% 2.0% 1.3% 0.7% 0.4%
Government grants 27.3% 26.2% 29.5% 25.1% 25.8%
All other grants and contributions 61.4% 63.1% 59.8% 64.7% 65.8%
Other revenue 0.5% 0.7% 0.6% 2.3% 1.7%
Expense composition info
Total expenses before depreciation $12,404,660 $11,972,507 $13,382,341 $16,131,808 $16,940,293
Total expenses, % change over prior year 14.3% -3.5% 11.8% 20.5% 5.0%
Personnel 53.9% 55.1% 55.9% 51.5% 51.5%
Professional fees 2.7% 3.0% 2.7% 2.2% 2.5%
Occupancy 2.1% 2.2% 2.2% 2.4% 2.4%
Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Pass-through 30.6% 30.0% 28.1% 34.6% 34.7%
All other expenses 10.6% 9.8% 11.1% 9.3% 8.9%
Full cost components (estimated) info 2017 2018 2019 2020 2021
Total expenses (after depreciation) $12,466,427 $12,021,957 $13,467,805 $16,226,674 $17,016,523
One month of savings $1,033,722 $997,709 $1,115,195 $1,344,317 $1,411,691
Debt principal payment $0 $0 $0 $0 $724,700
Fixed asset additions $0 $0 $347,056 $0 $0
Total full costs (estimated) $13,500,149 $13,019,666 $14,930,056 $17,570,991 $19,152,914

Capital structure indicators

Liquidity info 2017 2018 2019 2020 2021
Months of cash 4.8 5.9 5.0 5.7 5.3
Months of cash and investments 12.2 14.0 12.2 11.9 12.6
Months of estimated liquid unrestricted net assets 0.8 1.1 0.9 1.5 2.6
Balance sheet composition info 2017 2018 2019 2020 2021
Cash $4,986,710 $5,850,998 $5,540,675 $7,643,558 $7,413,238
Investments $7,652,258 $8,078,497 $8,024,681 $8,345,674 $10,308,079
Receivables $4,610,333 $4,325,242 $5,029,215 $4,262,101 $5,903,592
Gross land, buildings, equipment (LBE) $690,602 $705,386 $1,052,442 $618,540 $526,532
Accumulated depreciation (as a % of LBE) 75.3% 80.7% 62.2% 45.8% 56.1%
Liabilities (as a % of assets) 13.6% 13.1% 12.8% 20.9% 19.0%
Unrestricted net assets $953,474 $1,278,924 $1,352,940 $2,289,763 $3,931,699
Temporarily restricted net assets $7,971,557 $8,603,795 $9,546,375 N/A N/A
Permanently restricted net assets $6,403,476 $6,376,715 $5,950,104 N/A N/A
Total restricted net assets $14,375,033 $14,980,510 $15,496,479 $14,249,638 $15,734,491
Total net assets $15,328,507 $16,259,434 $16,849,419 $16,539,401 $19,666,190

Key data checks

Key data checks info 2017 2018 2019 2020 2021
Material data errors No No No No No

Operations

The people, governance practices, and partners that make the organization tick.

Documents
Form 1023/1024 is not available for this organization

Principal Officer

Ms. Lee A. Friedman

Number of employees

Source: IRS Form 990

College Now Greater Cleveland, Inc.

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
Related
Show data for fiscal year
Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

There are no highest paid employees recorded for this organization.

College Now Greater Cleveland, Inc.

Board of directors
as of 04/12/2023
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

Mike Cogan

Northern Trust

Term: 2014 - 2022

Kristen Baird Adams

PNC

Rita Andolsen

MetroHealth System

Harry Carlson

Retired, Lincoln Electric

Judith Embrescia

Community Leader

Lauren Rich Fine

Gries Financial Corporation

Margaret Kennedy

Retired, Benesch, Friedlander, Coplan & Aronoff

William Koehler

Team NEO

Alan Kopit

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Timothy Cosgrove

Cosgrove Jonhenry

Jimmy Malone

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Megan Mehalko

Benesch, Friedlander, Coplan & Aronoff, LLP

AD Naik

Eaton Corporation

Patrick Mullin

Retired, Deloitte

Sally Stewart

Howard Hanna

J.D. Sullivan

MFH Partners

Susan Tyler

Community Leader

Deborah Vesy

Retired, Deaconess Community Foundation

Brent Buckley

Buckley King, LPA

Gabe Bruno

Lincoln Electric Company

Brian Barren

Cleveland Guardians

Veena Khanna

KeyBank

Stephanie Antunez

California Closets

Suzanne Aral-Boutros

Community Leader

Michael Cogan

Northern Trust

Katinka Domotorffy

Community Leader

Ward Dumm

Community Leader

James Geuther

Truist

Joseph Morford

Tucker Ellis LLP

Ashley George

Moen

Enid Rosenberg

Community Leader

Sean Stack

Proterial

Joshua Bagshaw

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Ingrid Tolentino

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April Miller Boise

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Shelly Cayette

Cleveland Cavaliers

Tom Dewey

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Jitin Eidnani

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Rich Garcia

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Elizabeth Newman

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Kevin Kelley

Cuyahoga County Court of Common Please

Jessica Jung

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Marisa Darden

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Sam Prentis

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Rich Poehle

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Adam Zelwin

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Mark Ross

Community Leader

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? Yes

Organizational demographics

SOURCE: Self-reported; last updated 9/5/2022

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Gender identity
Female
Disability status
Decline to state

Race & ethnicity

Gender identity

 

Sexual orientation

No data

Disability

No data

Contractors

Fiscal year ending
There are no fundraisers recorded for this organization.