Cleveland Development Advisors Community Reinvestment Fund Inc.

“The Organization has entered into a Management Agreement with The Greater Cleveland Partnership (GCP) to provide professional staffing, office space, back office services, and IT services for the day to day operating needs of the organization. The following officers were employees of GCP and therefore were compensated by GCP as employees during 2024: - Yvette M. Ittu, President. Ms. Ittu received $279,654 of reportable compensation and $25,274 of other compensation from GCP for services provided to the organization.”

“The Organization's sole member is Cleveland Development Advisors, Inc. (CDA).”

“The CDA Board Members and Officers serve as the Directors and Officers of the Organization.”

“Staff, in conjunction with tax preparers, compiles the information needed to complete the Form 990. Upon completion, management conducts a detailed review of the return and makes final adjustments if necessary. The returns are provided to the Audit, Finance, and Executive Committees for review and comment. The final version of the Form 990 is given electronically and/or by hard copy to each board member for review prior to submission.”

“The board of Directors and staff of the Organization are expected to maintain the highest ethical standards in conducting the business of the Organization. The board and staff conflict of interest policies are intended to provide clear guidance to ensure that the Organization's business is conducted with integrity, and in compliance with all applicable laws, and in a manner that excludes considerations of personal advantage or gain. All board and staff members shall annually receive a reminder of their agreement to comply with the policy and sign a declaration indicating their acceptance. Any violation of the board policy will subject a board member to appropriate action, up to and including, removal from the board. When questions arise concerning any aspect of this policy, board members are encouraged to contact the board chair. Violations of this policy should be reported to the board chair or the confidential and independent 24-hour helpline provider, NAVEX Global, Inc. The disinterested members of the Governance Committee shall make a determination as to whether a conflict exists and what subsequent action, if any, is appropriate. The Governance Committee shall inform the Board of such determination and action. The Board shall retain the right to modify or reverse such determination and action, and shall retain the ultimate enforcement authority with respect to the interpretation and application of this policy. The CEO, or his/her designee shall make a determination regarding staff members as to whether a conflict exists and what subsequent action, if any, is appropriate. Any violation of the staff policy will subject the employee to discipline, up to and including, immediate discharge. When questions arise concerning any aspect of this policy, or to report violations, employees should contact the human resources department or the confidential and independent 24-hour helpline provider, NAVEX Global, Inc.”

“Salaries of all staff have been subjected to review by a compensation committee created by the Greater Cleveland Partnership. The committee's responsibilities include approving compensation for employees of the organization including the President/CEO. An annual performance evaluation process is conducted for all employees. Compensation for all employees is evaluated against the market. The compensation committee utilizes the resources of an independent consulting firm in the evaluation process to provide local and national compensation comparable data. The results of the latest survey (GCP Executive Compensation Study- February 2024) provided that direct pay and indirect pay programs reflect market medians.”

“A copy of the governing documents, conflict of interest policy and financial statements are available upon request for the same period of disclosure as set forth in IRC Section 6104(d).”

“The expenses under Line 11a, Management, represent the expenses incurred by Greater Cleveland Partnership ("GCP"), an Ohio non-profit corporation that is a section 501(c)(6) organization. CDA-CRF has contracted with GCP to assist it in providing management services for day to day operations including employees, facility space, IT, computers, etc.”