Ohio · Nonprofit
Economic Growth Foundation
Economic Growth Foundation (Ohio) receives grants from 16 organizations whose IRS filings report $1,419,994 to it, the largest being THE GEORGE GUND FOUNDATION ($413,000). 3 of them have funded it in more than one year.
- Revenue FY2024
- $5.0M
- Funders on record
- 16
- Grants received
- $1.4M
- Net assets
- $13M
What Economic Growth Foundation does
Mission
To promote and advance the civic, economic, and cultural growth of Greater Cleveland as a place to live, work, and conduct business.
As stated on its FY2024 Form 990.
Programs
Equity and Inclusion:Our focus is on promoting diversity across all levels of enterprises, from team members to executives and ownership. We collaborate with partners to support the growth of minority-owned businesses by providing access to customer opportunities and specialized advisory services. We also work to increase diversity in medium and high-wage roles by removing barriers, sharing best practices for creating inclusive environments, and developing mentorship networks. Additionally, we promote digital equity through initiatives such as device donations, affordable broadband access, and digital literacy support for all residents. The following outlines our key priorities: Grow minority business enterprises through advisory services and access to customers: Grow minority business enterprises boosts job creation within communities, creating employment opportunities and supporting local economies. This is crucial for the development of our region. In 2023, we received significant positive news regarding minority businesses: Cleveland allocated $10 million to enhance minority participation in the construction sector, and the U.S. Secretary of Commerce praised Greater Cleveland…
$2,044,736 spent$1,203,714 earned by the program45% of program spendingTalent:Dynamic businesses require a steady supply of talent to thrive. Our focus is on work-based learning for both current and future job markets. We collaborate with partners to boost enrollments and completions in degree and certificate programs for growth sectors, and to enhance internships, apprenticeships, and co-op opportunities through industry-led partnerships with educational institutions and training providers. Additionally, we aim to increase career awareness among high school students through exposure and placement programs that create clear pathways to employment.Increase degree and certificate completions and retain graduates: Our region has seen a net increase in college-educated individuals over the past six years. A more educated workforce often leads to increased innovation and productivity, driving economic development and attracting higher-value industries. Expand internships, apprenticeships, co-ops and tech credentials: Summer in the Land is a community initiative and series of events aimed at showcasing and celebrating the vibrancy of Greater Cleveland during the summer months. It typically includes a variety of activities designed to engage residents and…
$1,948,645 spent$25,000 earned by the program43% of program spendingInnovation:A thriving region relies on vibrant businesses. We drive growth and innovation across companies of all sizes by collaborating with partners to offer growth incentives, real estate opportunities, and talent solutions. We support small and mid-sized businesses by providing access to funding, cost-saving benefits, and opportunities for networking and idea exchange. Additionally, we boost innovation for start-ups, corporations, and research institutions, including federal facilities, through targeted sector strategies, partnerships, and increased funding.Innovation Initiatives: Through the Cleveland Innovation Project, the region has enhanced sector initiatives in smart and sustainable manufacturing, life sciences, and water tech and enabling initiatives to grow venture capital and innovation corridors.
$418,055 spent$7,500 earned by the program9% of program spendingThe Great Lakes Metro Chamber Coalition is a collective of chambers of commerce across the Great Lakes region that jointly advocate on core policy issues, including water quality, immigration reform, trade, and transportation and infrastructure. EGF is a founding member of this coalition. The organization continues to staff and lead the coalition's work.
$88,205 spent2% of program spendingAttractive communities are essential for drawing in and keeping vibrant businesses and talented individuals. Our priority is creating a next-generation appeal for working, living, and playing in Greater Cleveland. We collaborate with partners to enhance our downtown and waterfront areas through interconnected and inclusive developments in residential, commercial, and public spaces. We also invest in neighborhoods, focusing on both residential growth and commercial corridor development, ensuring they are supported by accessible and efficient transit. Additionally, we advocate for resources to expand amenities such as parks, arts and culture, sports, and other recreational activities. Recognizing the economic and social benefits of strong air services, we work closely with the city of Cleveland and other organizations to enhance air travel options for both business and leisure.Enhance downtown and waterfronts: In 2023, we continued to partner with the Mayor of the City of Cleveland and his administration to lead a planning process to redevelop the Downtown Cleveland Lakefront. City reveals North Coast Master Plan for lakefront and enters into an agreement for riverfront…
$66,189 spent1% of program spending
The 5 programs described on its FY2023 Form 990, listed largest first by expense. Program spending in total: $4,565,830.
The organization over time
Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2017 to 2018, from $12M to $13M (+9%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
Government-grant reliance: 2019 2% · 2020 4% · 2021 3% · 2022 19% · 2023 39% · 2024 34%. Grants only. Government contracts and fees sit inside program revenue.
58% of Economic Growth Foundation’s revenue is contributions — more donation-reliant than the typical peer (16% for the typical peer).
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 2 of the last 8 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
Chief executive
Shah Baiju
President & CEO
Board chair
Dolan Paul
Chair
As listed on its FY2024 Form 990.
Who funds it, year by year
2018 → 2023: the base broadened from 1 funder to 5 funders, grant income rose $50k → $332k.
4 of 16 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 6% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.
Left out of every figure on this page: $4.5M from 5 payers (the payer shares this organization's board, largest The Cleveland Foundation). These are real filings, and they are not money Economic Growth Foundation raised.
From the IRS filings of Economic Growth Foundation’s funders (the co-funder graph). Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
Economic Growth Foundation has a broad base — no single funder exceeds 29% of grant income, and it takes 3 funders to reach half.
the vertical line marks half of all grant income — 3 funders to its left
26% of the income these shares are computed over arrives through pass-through sponsors or from payers whose filings do not say what kind of payment it is. Concentration is still measured over all of it, because the money is real; what it does not support is a claim about how many institutions have chosen to fund Economic Growth Foundation.
Largest funder’s share by year: 2018 100% · 2019 100% · 2020 55% · 2021 94% · 2022 83% · 2023 45% — diversifying over time.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How long its funders stay
33% of Economic Growth Foundation's funders are still giving 3 years after their first grant; 19% give in more than one year at all.
Share of funders still giving k years after their first recorded grant, pooled across every acquisition cohort. A funder counts as retained in a year only if it made a grant that year. Measured to FY2023, the last fiscal year that has finished arriving — a funder cannot be counted as lapsed in a year most filers have not reached.
Where its funders are
68% of Economic Growth Foundation's grant income comes from Ohio funders.
In-state vs out-of-state, by year
Funder states come from each funder’s own filing. $91k arriving through sponsors registered in 4 states is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Against its field
Economic Growth Foundation has grown faster than three-quarters of the 1,551 employment nonprofits its size.
this organization peer median middle 50% of peers· 1,551 employment nonprofits $1M–$10M, FY2024
Government funding Economic Growth Foundation receives
Grants and contracts to this organization from federal (USASpending) and state checkbooks, reconciled to its EIN. $8.0M on record.
- Department of Labor$5.8M
- Department of Commerce$2.2M
Federal grants vs contracts are distinguished; state line items keep their reported category. Matched by name + geography (the BMF), so coverage is partial and precision-first.
Organizations like Economic Growth Foundation
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In Ohio
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Where the money goes
97% of spending goes to programs.
Governance
Public support
99%
Share of support from the public (Schedule A) — the basis for its public-charity status.
Footprint & structure
Files a return copy in 1 state
Part of a family of 3 related entities
- Greater Cleveland Partnership · exempt
- Cleveland Development Foundation · exempt
- Group Services Inc · corp_trust
Screen this organization
A dated, signed PDF of the compliance screen for Economic Growth Foundation: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds Economic Growth Foundation?
- Economic Growth Foundation (Ohio) receives grants from 16 organizations whose IRS filings report $1,419,994 to it, the largest being THE GEORGE GUND FOUNDATION ($413,000). 3 of them have funded it in more than one year.
- How many funders does Economic Growth Foundation have?
- IRS filings report 16 organizations giving $1,419,994 in grants to Economic Growth Foundation, 3 of which have funded it in more than one year.
- Who is the largest funder of Economic Growth Foundation?
- THE GEORGE GUND FOUNDATION is the largest funder on record, with $413,000 in grants. The full list of funders is on this page.
- How can an organization like Economic Growth Foundation find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in Ohio. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
Play a game about who funds Economic Growth →
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2024 (financials across 2017–2024), and the filings of 16 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 22, 2026. What this page cannot tell you · view filing