Overview
What is Economic Growth Foundation?
The Economic Growth Foundation, based in Cleveland, Ohio, is a nonprofit organization dedicated to fostering civic, economic, and cultural growth in the region. Established in 2001, its Equity & Inclusion Team focuses on reducing racial disparities in employment, income, and wealth by supporting minority-owned businesses and promoting workforce diversity, equity, and inclusion. The foundation accomplishes this through various initiatives, including providing targeted growth resources and advisory services to minority business enterprises (MBEs), helping companies identify strengths and opportunities for improvement in diversity efforts, and promoting digital equity through device donations, affordable broadband access, and digital literacy support. Moreover, the Economic Growth Foundation serves as a convener and resource for employers on diversity, equity, and inclusion, hosting events and workshops to engage leaders and foster a commitment to action.
Is Economic Growth Foundation legitimate?
Economic Growth Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Economic Growth Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $261,720
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,017,718
For more financial information, click here
What is the mission statement of Economic Growth Foundation?
The Economic Growth Foundation's mission is centered around promoting and advancing the civic, economic, and cultural growth of a specific region. This mission aims to position it as an attractive place for individuals to live, work, and conduct business. The foundation is particularly committed to addressing racial disparities in employment, income, and wealth by growing businesses owned by people of color and increasing workforce diversity, equity, and inclusion. They achieve this by providing access to resources and advisory services for minority business enterprises and reducing barriers for diversity in medium and high-wage positions. Additionally, the foundation ensures digital equity by offering device donations, affordable broadband access, and digital literacy support for all residents.
Who is the CEO of Economic Growth Foundation?
Baiju Shah is the Principal Officer of Economic Growth Foundation. The CEO's salary of Economic Growth Foundation is $57,553 and their total compensation is $685,454.
What is the revenue of Economic Growth Foundation?
Economic Growth Foundation's revenue in 2022 was $2,912,962.
Who are the executives of Economic Growth Foundation and what are their salaries?
- Shah Baiju (President & Ceo)
- Ittu Yvette (Evp Finance & Operations)
- Luteran John (Mvp, Fin, Operations & Air Service)
- Marbury Shana (General Counsel & Svp, Talent)
- Roman Joseph (Former President)
- Hall Brian (Svp, Equity & Inclusion)
- Coates Steven (Controller Finance & Operations)
- Platt Craig (Managing Director, It Sector Pt)
- Nance Christopher (Vp, Construction/Inclusive)
- Collier Freddy (Svp, Strategy & New Initiatives)
- Grgurevic Marco (Vp, Minority Business Growth, Equity, And Inclusio)
- Stanek Michael (Chair) [Trustee/Director]
- Dirocco Joe (Treasurer Until 9/22) [Trustee/Director]
- Arnold Craig (Director)
- Cavoli James (Director)
- Chaikin Scott (Director)
- Cosgrove Bill (Director)
- Dewagheneire Severine (Director)
- Dolan Paul (Director)
- Gorman Christopher (Director)
- Harmon Brad (Director)
- Haslam Dee (Director)
- Johnson Kevin (Director)
- Kaler Eric (Director)
- Komoroski Len (Director)
- Lopez Joe (Director Until 12/22)
- Morikis John (Director)
- Opsitnick Timothy (Director)
- Pastore Patrick (Director)
- Perez Cheryl (Director)
- Read Deborah (Director)
- Richardson Sean (Director)
- Schnur Eric (Director Until 1/22)
- Sundaram Nagarajan (Director)
- Taylor Jr Eddie (Director)
- Whiting Vanessa (Director)
- Williams Thomas (Director Until 6/22)
- Young John (Director Until 1/22)
Where can I find the form 990 for Economic Growth Foundation?
The Economic Growth Foundation’s most recent form 990 was submitted in 2022 and can be accessed here
Mission Statement of Economic Growth Foundation
The Economic Growth Foundation, headquartered in an unspecified location, is dedicated to fostering the civic, economic, and cultural growth of its surrounding community, which it refers to as Greater Cleveland. Its mission is to make Greater Cleveland an attractive place for individuals and businesses to live, work, and conduct business. To achieve this goal, the foundation focuses on promoting inclusivity and opportunity.
The Equity & Inclusion Team, a division of the Economic Growth Foundation, has been working since 2001 to address racial disparities in employment, income, and wealth. This team aims to grow businesses owned by people of color and increase workforce diversity, equity, and inclusion at all levels of enterprises, from team members to the executive suite and ownership. The foundation achieves this by providing access to customer opportunities and targeted advisory services to minority business enterprises (MBEs). It also works on reducing barriers, sharing best practices, and developing mentorship networks for diversifying medium and high-wage positions. Furthermore, the foundation ensures digital equity by donating devices, promoting affordable broadband access, and providing digital literacy support.
In summary, the Economic Growth Foundation is committed to promoting and advancing the growth of Greater Cleveland. Its mission is to make the region an attractive place for individuals and businesses by addressing racial disparities, growing minority business enterprises, increasing workforce diversity, equity, and inclusion, and ensuring digital equity for all residents. This is achieved through various initiatives and partnerships, including targeted growth resources, advisory services, workshops, conferences, and collaboration with other organizations in the Greater Cleveland Digital Equity Coalition.
Impact
This information is meant to be a general summary of Economic Growth Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
The Economic Growth Foundation has made a significant impact in promoting and advancing the civic, economic, and cultural growth of Greater Cleveland. One of its key initiatives is to close racial disparities in jobs, income, and wealth by growing businesses owned by people of color and increasing workforce diversity, equity, and inclusion. This focus on diversity at all levels of enterprises, from team members to the executive suite and ownership, is crucial in creating inclusive opportunities for the abundant talent in the region.
The foundation's efforts in growing minority business enterprises have been commendable, with initiatives like the Ohio MBDA Business Center and Emerging Developers Initiatives providing targeted growth resources and advisors to over 200 minority-owned businesses. In 2022 alone, secured contracts for these businesses totaled nearly $132 million, leading to the creation and retention of 140 jobs. Additionally, through research and support, the foundation has helped over 350 MBEs access various funding opportunities and prepare to take full advantage of them.
Furthermore, the foundation's role in increasing workforce diversity through workshops, conferences, and assessment tools has been instrumental in engaging employers to commit to diversity, equity, and inclusion initiatives. Their annual Equity & Inclusion Conference has provided valuable insights to employers on how to capitalize on diversity in the workplace effectively.
Moreover, the foundation's involvement in promoting digital equity as a partner in the Greater Cleveland Digital Equity Coalition has contributed to increasing internet access in the region. With initiatives like securing device donations, advocating for affordable broadband, and fostering public-private partnerships, the coalition has made significant strides towards connecting 100 percent of residents. The increase in internet access in the region from 91 percent to 50,000 households prepandemic showcases the impact of these efforts.
Overall, the Economic Growth Foundation's work in Greater Cleveland has been pivotal in driving economic growth, fostering diversity and inclusion, and promoting digital equity for all residents.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Intercompany
Revenue
$502,520
Registration Revenue
Revenue
$138,131
Organization Details
Founding Year
1997
Phone
(216) 592-2210
Principal Officer
Baiju Shah
Main Address
1240 Huron Road E 300, Cleveland, OH, 44115
NTEE Category
Code: J22 - Employment
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