2024-05-15T15:18:24-05:00 2023-06-30 420714325 RSM US LLP 6 S Patterson Blvd Dayton OH 45402 990 2022-07-01 201286318 Euclid Avenue Development Corporation EUCL 2166873613 2121 Euclid Ave AC252 Cleveland OH 44115 Nicole Addington Vice President 2166873613 2024-05-15 1 Nicole Addington XXX-XX-XXXX 1 Karen O Crim P00368385 9372980201 2024-05-15 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z Nicole Addington 2121 Euclid Ave AC252 Cleveland OH 44115 25216260 0 X N/A X 2001 OH Operation of student housing and parking facilities in support of Cleveland State University 5 2 0 0 0 0 0 0 10285548 22415638 -1981284 1306775 56605 281289 8360869 24003702 0 0 0 0 0 0 0 0 0 9897821 24684931 9897821 24684931 -1536952 -681229 87945657 242061337 85142520 239939429 2803137 2121908 See Schedule O 0 0 23645932 0 22415638 To further the educational mission of Cleveland State University by developing and owning housing for the students, faculty, and staff of the university. 23645932 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 3 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 2 0 1 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 OH X Nicole Addington 2166873613 2121 Euclid Ave AC252 Cleveland OH 44115 David Jewell President 2.00 50.00 X X 0 304199 73921 Nicole Addington Vice President 3.00 50.00 X X 0 180744 27451 Sonali Wilson Secretary & Treasurer 1.00 50.00 X X 0 247024 63212 Mark Lammon Community Board Member 1.00 0.00 X 0 0 0 Kevin Nowak Community Board Member 1.00 0.00 X 0 0 0 0 731967 164584 0 0 1 0 Greystar 999 Shady Grove Road S Ste 600 Memphis TN 38120 Property Management Services 599102 1 Rental Income 531110 21244139 21244139 Parking Income 531110 526094 526094 Tenant Fees 531110 392287 392287 Maintenance Fees 531110 253118 253118 22415638 159 159 2519174 1212558 1306616 1306616 1306616 281289 281289 281289 24003702 22415638 0 1588064 X 599102 599102 20370 20370 2041485 2041485 130479 130479 4759807 4759807 10669641 10669641 5405612 5405612 88826 88826 Administrative Expenses 888150 888150 81459 81459 24684931 23645932 1038999 0 2258377 3714628 5387591 7127246 232290 923766 18220000 18220000 64026 307061 230891157 33270014 48793623 197621143 12989750 14147493 87945657 242061337 2217012 5425698 976021 1350160 81831282 232549384 118205 614187 85142520 239939429 X 2803137 2121908 2803137 2121908 87945657 242061337 -681229 0 X 0 1 X 1 0 X X X 1 Cleveland State University 340966056 6 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 4623000 4623000 222603675 29957536 192646139 3537814 3312478 225336 126668 126668 197621143 Security Deposits 614187 614187 X 24003702 0 24003702 0 24003702 24684931 0 24684931 0 24684931 Part X, Line 2: The Corporation is a not-for-profit corporation as described in Section 501(c)(3) of the Internal Revenue Code (the Code) and is exempt from federal income taxes on related income pursuant to Section 501(a) of the Code. Uncertain income tax positions are evaluated at least annually by management. The Corporation classifies interest and penalties related to income tax matters as management and general expense in the accompanying financial statements. As of June 30, 2023 and 2022, the Corporation has identified no uncertain income tax positions and has incurred no amounts for income tax penalties and interest for the years then ended. 0 0 0 0 0 0 0 0 0 David Jewell President 0 304199 0 0 0 0 0 41067 0 32854 0 378120 0 0 Sonali Wilson Secretary & Treasurer 0 247024 0 0 0 0 0 35700 0 27512 0 310236 0 0 Nicole Addington Vice President 0 180744 0 0 0 0 0 25452 0 1999 0 208195 0 0 A Cleveland-Cuyahoga County Port Authority 341029691 186103JE8 2014-12-09 97992628 Retire 03/17/05, 07/25/08 and 12/18/09 bonds. 0 0 0 B Cleveland-Cuyahoga County Port Authority 341029691 186103KX4 2019-08-15 19942883 Retire portion of 2014 bond 0 0 0 C Cleveland-Cuyahoga County Port Authority 341029691 186103LS4 2022-07-06 148439374 Finance acquisition of student housing, parking, and 2022 bonds 0 0 0 A 33320000 97992628 954098 97038529 1 0 1 1 B 19942883 337882 19605000 1 0 1 1 C 148439374 1749693 146689681 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 0 1 C 0 0 0 0 0 0 0 0 1 A 0 B 0 C 0 Form 990, Part III, Line 1 The corporation is organized and shall at all times be operated exclusively for charitable, scientific and educational purposes within the meaning of section 501(c)(3) of the internal revenue code of 1986, as amended, (the "Code"), and shall operate pursuant to section 509(a)(3) of the code exclusively for the benefit of Cleveland State university, an instrumentality of the state of Ohio and a state assisted institution of higher education (the "University"). Without limiting the foregoing, the corporation shall have the following purposes: (a) to promote the welfare of the people of the state of Ohio by constructing, acquiring, equipping, furnishing, owning, developing, operating, and maintaining real and personal property to be used directly or indirectly for or in connection with the conduct of the university as an institution of higher education, including housing, dining and food service facilities, instructional, administrative and office facilities, libraries, student activity and student service facilities, athletic and recreational facilities, faculty centers, auditoriums, assembly and exhibition halls, medical and health facilities, research and continuing education facilities and parking facilities (collectively, "facilities") and other uses in support or the University and/or joint programs and activities of the University and other governmental organizations or tax-exempt 501(c)(3) organizations (collectively, the "Exempt Organizations") along with related facilities that promote the educational, social, psychological and physical well-being of the students, faculty and staff of the University and exempt organizations located in proximity to the University's main campus in the city of Cleveland, Ohio (the "University Campus"); (b) to expand the educational opportunities available to individuals residing outside of the reasonable commuting area of the university campus by providing to the students, faculty and staff of the university and exempt organizations reasonably priced rental housing and other facilities in proximity to the university campus; (c) to promote a sense of community among the students, faculty and staff of the university and exempt organizations by encouraging educational, social, and recreational interaction among such individuals by providing facilities in proximity to the university, the exempt organizations and each other; and (d) to lessen the burdens of government by assisting the state of Ohio, the university and exempt organizations in providing facilities for students, faculty and staff of the university and exempt organizations. (e) solely for the above purposes, the corporation is empowered to take and hold by bequest, devise, gift, contribution, purchase, lease, or any other form, either absolutely or in trust, any property, real or personal, tangible or intangible, without limitation as to amount or value; to sell, convey, use, assign and dispose of any such property and to invest and reinvest the income and principal thereof; to deal with and expend the income and principal of the corporation; to make gifts or contributions to other entities or persons; to vote the shares or interests in any stock or other equity investment held by the corporation; to maintain, protect and enforce all rights, title and interests incidental to holding title to property held by the corporation; to do all things necessary or appropriate to accomplish the foregoing; and to exercise all other rights and powers conferred by the laws of the state of Ohio upon nonprofit corporations. Form 990, Part VI, Section A, line 3 The Student Housing Project is managed by Greystar Management. Form 990, Part VI, Section A, line 6 The members of the corporation at any time consist of those individuals who are then serving as the voting members of the Board of Trustees of Cleveland State University. Form 990, Part VI, Section A, line 7a The members of the corporation have the authority and power to determine the number of, and to elect and remove, the Community Directors. Form 990, Part VI, Section B, line 11b Form 990 is reviewed by the Vice President and the other board members with the assistance of the outside public accounting firm. Form 990, Part VI, Section B, line 12c Annual disclosures from officers and trustees are reviewed for conflicts. When a conflict arises, the person is not permitted to participate in the discussion of the transaction or to vote. The decision about the transaction is made by persons who are independent of the conflict. Form 990, Part VI, Section C, line 19 The organization makes its financial statements, conflict of interest policy and governing documents available upon request for the same period of time as set forth in Internal Revenue Code section 6104(d). Form 990, Part IX, line 11g Contracted Personnel: Program service expenses 2,041,485. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,041,485. Cleveland State University 1717 Euclid Avenue Cleveland OH 44115 340966056 Education OH N/A N/A 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 Cleveland State University J 1786406 FMV/Lease Agreement