PLATINUM2024

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

SOURCE: Self-reported by organization

College Now's success hinges on delivering effective, high-quality services to beneficiaries and serving as a collaborator and partner with likeminded organizations, so it's imperative that our strategic plan reflect the needs and preferences of College Now's many stakeholders and to make sure our services are known and accessible to our target audience.

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 across Northeast Ohio matriculated to college in 2023 at an average rate of 62%.

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 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 82%, significantly higher than the national average of adult learners ages 24+ (52%).

Our Sustainable Development Goals

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

In October 2023, College Now's Board approved a new strategic plan. For the next five years, four pillars, informed by in-depth stakeholder feedback, will guide our work. The pillars are: 1) Champion the value of postsecondary education for all; 2) Increase postsecondary education attainment; 3) Expand and enhance the impact of College Now's role as a thought leader; and 4) Advance College Now's organizational effectiveness. These four Pillars are meant to encompass, deepen, and continue College Now's broad body of work.

After designing an 18-month implementation plan, we are requesting Board designated funds to carry out initiatives in support of advancing and strengthening our four pillars. Some examples of actionable steps include developing a strategic and robust marketing plan to increase brand awareness, which has become especially vital as our services continue to broaden and deepen extensively over the last several years. We plan to collaborate with community partners to expand the number of individuals served. Our existing relationships with other non-profits, foundations, and government officials in the region enable us to partner on these initiatives and maintain or apply for additional funding. We will also use funding to purchase additional data tools to track our metrics and benchmark with state and national outcomes, as available, to enable us to ensure best-in-class organizational processes are maintained.

Dr. Michele Scott Taylor was promoted to President in December 2023 and charged with operationalizing the strategic plan. Under Dr. Taylor's leadership, a Board implementation committee revamped and enlarged Board advocacy, and marketing committees and staff leaders have identified iterative strategies and action steps under each pillar. The board adopted these strategies and action steps in March 2024 to launch the plan's implementation over the following 18 months.

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 2022 info

SOURCE: IRS Form 990

3.34

Average of 4.99 over 10 years

Months of cash in 2022 info

SOURCE: IRS Form 990

4.8

Average of 5.3 over 10 years

Fringe rate in 2022 info

SOURCE: IRS Form 990

21%

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

College Now Greater Cleveland, Inc.

Revenue & expenses

Fiscal Year: Aug 01 - Jul 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

College Now Greater Cleveland, Inc.

Balance sheet

Fiscal Year: Aug 01 - Jul 31

SOURCE: IRS Form 990 info

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 info

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.

Created in partnership with

Business model indicators

Profitability info 2018 2019 2020 2021 2022
Unrestricted surplus (deficit) before depreciation $374,900 $159,480 $1,031,689 $1,718,166 $599,823
As % of expenses 3.1% 1.2% 6.4% 10.1% 2.8%
Unrestricted surplus (deficit) after depreciation $325,450 $74,016 $936,823 $1,641,936 $538,920
As % of expenses 2.7% 0.5% 5.8% 9.6% 2.5%
Revenue composition info
Total revenue (unrestricted & restricted) $12,790,280 $14,197,853 $16,715,812 $18,465,003 $24,635,286
Total revenue, % change over prior year 4.1% 11.0% 17.7% 10.5% 33.4%
Program services revenue 8.0% 8.8% 7.2% 6.3% 6.5%
Membership dues 0.0% 0.0% 0.0% 0.0% 0.0%
Investment income 2.0% 1.3% 0.7% 0.4% 0.8%
Government grants 26.2% 29.5% 25.1% 25.8% 23.0%
All other grants and contributions 63.1% 59.8% 64.7% 65.8% 65.0%
Other revenue 0.7% 0.6% 2.3% 1.7% 4.6%
Expense composition info
Total expenses before depreciation $11,972,507 $13,382,341 $16,131,808 $16,940,293 $21,149,117
Total expenses, % change over prior year -3.5% 11.8% 20.5% 5.0% 24.8%
Personnel 55.1% 55.9% 51.5% 51.5% 49.4%
Professional fees 3.0% 2.7% 2.2% 2.5% 2.4%
Occupancy 2.2% 2.2% 2.4% 2.4% 1.8%
Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Pass-through 30.0% 28.1% 34.6% 34.7% 35.5%
All other expenses 9.8% 11.1% 9.3% 8.9% 10.9%
Full cost components (estimated) info 2018 2019 2020 2021 2022
Total expenses (after depreciation) $12,021,957 $13,467,805 $16,226,674 $17,016,523 $21,210,020
One month of savings $997,709 $1,115,195 $1,344,317 $1,411,691 $1,762,426
Debt principal payment $0 $0 $0 $724,700 $0
Fixed asset additions $0 $347,056 $0 $0 $407,111
Total full costs (estimated) $13,019,666 $14,930,056 $17,570,991 $19,152,914 $23,379,557

Capital structure indicators

Liquidity info 2018 2019 2020 2021 2022
Months of cash 5.9 5.0 5.7 5.3 4.8
Months of cash and investments 14.0 12.2 11.9 12.6 10.6
Months of estimated liquid unrestricted net assets 1.1 0.9 1.5 2.6 2.2
Balance sheet composition info 2018 2019 2020 2021 2022
Cash $5,850,998 $5,540,675 $7,643,558 $7,413,238 $8,538,055
Investments $8,078,497 $8,024,681 $8,345,674 $10,308,079 $10,212,723
Receivables $4,325,242 $5,029,215 $4,262,101 $5,903,592 $7,831,094
Gross land, buildings, equipment (LBE) $705,386 $1,052,442 $618,540 $526,532 $933,643
Accumulated depreciation (as a % of LBE) 80.7% 62.2% 45.8% 56.1% 38.2%
Liabilities (as a % of assets) 13.1% 12.8% 20.9% 19.0% 24.1%
Unrestricted net assets $1,278,924 $1,352,940 $2,289,763 $3,931,699 $4,470,619
Temporarily restricted net assets $8,603,795 $9,546,375 N/A N/A N/A
Permanently restricted net assets $6,376,715 $5,950,104 N/A N/A N/A
Total restricted net assets $14,980,510 $15,496,479 $14,249,638 $15,734,491 $16,440,608
Total net assets $16,259,434 $16,849,419 $16,539,401 $19,666,190 $20,911,227

Key data checks

Key data checks info 2018 2019 2020 2021 2022
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

College Now Greater Cleveland, Inc.

Highest paid employees

SOURCE: IRS Form 990

Compensation
Other
Related
Show data for fiscal year
Compensation data
Download up to 5 most recent years of highest paid employee data for this organization

College Now Greater Cleveland, Inc.

Board of directors
as of 04/30/2024
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

Judith Embrescia

Community Leader

Lauren Rich Fine

Gries Financial Corporation

Margaret Kennedy

Retired, Benesch, Friedlander, Coplan & Aronoff

William Koehler

Team NEO

Alan Kopit

MediLogix LLC

Timothy Cosgrove

Cosgrove Jonhenry

Jimmy Malone

iHeart Media

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

Sean Stack

Proterial

Joshua Bagshaw

Sherwin-Williams Company

Ingrid Tolentino

MetLife Legal Plans

April Miller Boise

Intel

Shelly Cayette

Cleveland Cavaliers

Tom Dewey

Medical Mutual of Ohio

Rich Garcia

Bluepoint Capital Partners

Elizabeth Newman

CBIZ

Kevin Kelley

Cuyahoga County Court of Common Please

Jessica Jung

Oswald Companies

Marisa Darden

Benesch, Friedlander, Coplan & Aronoff LLP

Sam Prentis

Bank of America

Adam Zelwin

PwC

Mark Ross

Community Leader

Kelly Hancock

Cleveland Clinic Foundation

Jim Malz

Citizens Bank

Jennifer Palmieri

Westfield

Tom Partridge

Fifth Third

Tonika Hammonds

EY

Andrew Watterson

Blue CSR Strategies

Christopher Williams

Calfee, Halter & Griswold, LLP

Adam Zelwin

PwC

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 4/30/2024

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

Transgender Identity

Sexual orientation

Disability

Contractors

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