2025-11-13T12:03:51-06:00 2024-12-31 420714325 RSM US LLP 6 S Patterson Blvd Dayton OH 45402 990 2024-01-01 461051875 Cleveland Development Advisors Community Reinvestment Fund Inc CLEV 2165922274 1240 Huron Road 300 Cleveland OH 44115 Yvette M Ittu President & CEO 2165922274 2025-11-12 1 1 Karen O Crim P00368385 9372980201 2025-11-12 2024 2025-03-06 01:10:19Z Yvette M Ittu 1240 Huron Road 300 Cleveland OH 44115 7407552 0 X www.clevelanddevelopmentadvisors.com X 2012 OH To promote community development and revitalization by supporting and providing investment capital for low-income communities and low-income persons in Northeast Ohio to create sustainable neighborhoods and communities through neighborhood redevelopment and small business growth through collaboration and inclusivity with public, private and not-for-profit partners. 15 15 0 20 -20067 0 5608480 3390837 3851236 3576968 466138 438801 20978 946 9946832 7407552 255600 481500 0 0 0 0 0 0 0 4111834 3464638 4367434 3946138 5579398 3461414 46140522 49300009 21961211 21656023 24179311 27643986 X To build inclusive and thriving neighborhoods in Northeast Ohio by providing innovative financing solutions and technical assistance to catalytic real estate and business development projects. In carrying out this mission, CDA-CRF shall be operated exclusively for religious, charitable, scientific, literary or educational purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended. 0 0 1802373 0 2578450 Management Services:CDA-CRF provides management services to Cleveland Development Advisors, Inc. (CDA), an affiliate of the Organization. CDA is a real estate and business development finance organization that invests privately funded capital and New Markets Tax Credit (NMTC) allocations into catalytic projects designed to advance economic and community development projects throughout Cleveland. CDA's investment funds include i) Cleveland Development Partnership II LP (CDP II), ii) Advance Cleveland Development Fund, LLC (ACDF), Opportunity CLE Loan Fund, LLC (OCLF) and iii) Cleveland New Markets Investment Fund II, LLC (CNMIF II) (collectively, CDA's Investment Funds). CDP II, ACDF, and OCLF provide a source of private sector financing for developers, owners and operators of significant real estate projects that are located in low income communities and/or serve low income persons within Cleveland, Ohio and Cuyahoga County, Ohio, in order to promote community and economic development and advance community priorities. CNMIF II is a community development entity (CDE) certified by the U.S. Treasury's Community Development Financial Institutions Fund (CDFI Fund) that has received a total of $340 million in NMTC allocations since 2007. CNMIF II provides investment capital for low-income communities and low-income persons consistent with the NMTC Program and CDA's priorities.Since 1989, CDA's Investment Funds have invested more than $586 million in 180 projects that have resulted in over 8,100 new housing units and 14.9 million square feet of commercial space, which have generated over $4.4 billion of total development. Since 1989, CDA's Investment Funds have created over 19,400 permanent construction jobs.The investments made by CDA's Investment Funds in 2024 include the following:Cleveland Institute of Art Interactive Media Lab (CIA IML): CNMIF II provided $7 million of Federal NMTC allocation paired with $1 million of State of Ohio NMTCs to finance the Cleveland Institute of Art (CIA) Interactive Media Lab located at Cleveland Midtown Collaboration Center, which is a flagship economic and community engagement project sponsored by The Cleveland Foundation. The $12.7 million Interactive Media Lab (IML) will provide cutting-edge training in virtual reality (VR), augmented reality (AR), game design, and extended reality (XR) film production. The IML features a dedicated XR film studio and is designed to be a resource for CIA students, local businesses, and community residents. The IML aims to foster artist and designer driven content creation, promote discourse on interactive media, and encourage young people to explore careers in these growing fields. CNMIF II previously provided $10 million in federal NMTC allocation to The Cleveland Foundation for the construction of the Midtown Collaboration Center, which is located next to The Cleveland Foundation's new headquarters in Midtown neighborhood. These two buildings represent the initial phase of a larger 12-acre civic district planned for the area.Cleveland Kitchen: CNMIF II provided $10 million Federal NMTC allocation to Cleveland Kitchen, a national leader in fermented foods. Cleveland Kitchen is consolidating and significantly expanding its production facility at the Central Kitchen Food Hub on Carnegie Avenue in Midtown neighborhood. Founded in 2024 by Shaker Height natives, Cleveland Kitchen has grown rapidly, distributing its sauerkraut, kimchi, culinary sauces, pickles, and picked red onions to over 20,000 stores nationwide. CNMIF II's NMTC allocation supported the expansion by adding new production lines and creating an additional 30,000 square feet of insulated cold storage. The project will create 80 new jobs and retain 45 positions in Cleveland.Urban Community School Athletic Center: CNMIF II provided $8 million in Federal NMTC allocation paired with $1 million of State of Ohio NMTCs to finance Urban Community School's new state of the art athletic center at its Ohio City campus. The new 30,000 square foot facility is expected to serve up to 5,000 children and families annually, with 75% coming from low-income backgrounds. The new athletic center will host programming space for community partners, including Near West Recreation (a popular youth recreation league providing thousands of Cleveland youth access to sports annually); Re:Source Cleveland (which serves global refugees) and House of Champions (an after school program providing essential after-school care). The new facility will also be the new home of the Greater Cleveland Sports Hall of Fame.Famous Supply: CNMIF II provided $10 million in Federal NMTC allocation to Famous Supply, a wholesale distributor of HVAC, plumbing industrial and building products, to support the company's $40.8 million renovation of a 351,950 square foot warehouse in Maple Heights for a new distribution center. The facility will add to Famous Supply's existing distribution network and significantly expand the company's e-commerce fulfillment operations. Famous Supply will be the first to implement world-class warehouse systems to the region that will include fully and semi-automated good-to-person warehouse systems, advanced warehouse management computer systems, and co-operative semi-autonomous forklift systems at the new distribution facility. These high-tech systems work hand in hand with the associates, creating a new work environment where automation technology and associate culture improve safety, delivery accuracy and world-class service. Attached to the distribution center is a 28,000 square foot state-of-the art training facility dedicated to educating local HVAC and plumbing contractors. This center will offer hands-on training with the latest equipment, frequently scheduled state-certified classes to earn continuing education credits and video content for convenient, self-paced learning. Beyond technical skills, Famous Supply will provide a full range of business classes designed to help business owners navigate critical areas like human resources, financial management and succession planning. The new distribution center is anticipated to create 85 new jobs, and the new Training Institute is anticipated to provide classes to over 2,000 people annually.Park Synagogue: ACDF provided a $2 million loan to support the predevelopment costs associated with the redevelopment of the 28-acre campus in Cleveland Heights, that is being reimagined and led by Sustainable Community Associates and is focused on education, the arts and intergenerational connectivity. The Park Synagogue Conservative Jewish congregation, which relocated to its new campus in 2005, wants to preserve and use the property and main synagogue. The structure is one of four synagogues in the United States designed by German-Jewish architect Erich Mendelsohn and is considered a midcentury modern masterpiece.United 25th Apartments: OCLF provided a $2 million loan to support the construction costs related to the conversion of the seventh floor of the United 25th Building in Ohio City from office space into 17 apartment units. The project will bring quality workforce housing to the heart of the neighborhood. 895891 0 1271798 Loans:The Organization began lending activity in 2017 utilizing its cash resources generated from successfully managing CDA Investment Funds and leveraging those funds to create greater impact in the community. CDA-CRF became a certified Community Development Financial Institution (CDFI) by the CDFI Fund in 2018, and was recertified in 2025, with a focus on the most distressed neighborhoods in the City of Cleveland and surrounding neighborhoods; but also serves Cuyahoga County and its surrounding counties. CDA-CRF is refining its lending priorities to match gaps in the greater Cleveland lending landscape to create sustainable loan products with the ability to advance Cleveland by supporting neighborhood redevelopment and small business growth. The focus of the organization's lending activity is on real estate development projects including community facilities, job creation projects and acquisition and predevelopment.CDA-CRF has been able to expand its loan and grant products to increase access to capital to emerging and underserved developers by providing a loan and grant product specifically for the predevelopment and acquisition needs of emerging developers who are focused on investing in real estate projects located in low-income communities and/or serving low-income persons. The predevelopment and acquisition products compliments CDA-CRF's Development Services Programs which focuses on providing technical assistance to emerging developers through various components of the Development Services Program. In 2024, CDA-CRF closed on new loans totaling $4.8 million to support the following projects:89th Rising: CDA-CRF provided a $4 million senior loan, along with a $500,000 subordinate loan, to finance the new construction of the 89th Rising Housing Development that is bringing new quality housing to the Fairfax neighborhood through 48 new one-and two-bedroom market rate rental units along East 89th Street between Cedar Road and Quincy Avenue. The apartments will be in six large structures designed to reflect historic Victorian houses that once anchored the street.African Town Plaza Redevelopment: CDA-CRF provided a $300,000 predevelopment loan to support the predevelopment costs associated with the historic renovation and adaptive reuse of the former Cedar Branch YMCA at the corner of East 75th Street and Cedar Road in the Fairfax neighborhood. The building has been vacant for 12 years and the redevelopment plan includes a mixed-use cultural center with non-profit and community tenants, an event center and 19 apartments. 481500 481500 -273280 Equity Investments & Grants:CDA-CRF assists in the revitalization of low-income communities through the support and facilitation of real estate and business development projects in Northeast Ohio. Specifically, CDA-CRF has equity investment in real estate financing organizations that promote community and economic development in these communities. CDA-CRF also will utilize and leverage resources to provide grants to those organizations that support community and economic development in the low-income communities. The Organization works closely with the City of Cleveland, Cuyahoga County, community partners and stakeholders to identify real estate development projects that will have a transformative impact on the City of Cleveland and Cuyahoga County.In 2024, CDA-CRF provided grants for three real estate development projects that are focused on revitalization of the neighborhoods in Cleveland, Ohio.- CDA-CRF provided a $75,000 grant to support the Pivot Center located in the Clark-Fulton neighborhood to support the construction buildout of additional space for the Cleveland Rape Crisis Center to move its headquarters to the building.- CDA-CRF provided a $40,000 grant to We Rise Development to hire an owner's representative for the construction of the 89th Rising Housing Development Project in the Fairfax Neighborhood.- CDA-CRF provided a $250,000 grant to support the financing of the 9410 Hough project that will bring 116 quality affordable housing units and supportive social services to the Hough neighborhood.CDA-CRF is the 99.9% owner of CNMIF II, a certified CDE under the NMTC Program, investing in low-income communities and low-income persons. To date, CNMIF II has received a total of $340 million of Federal NMTC allocation and $38.4 million of Ohio NMTC allocations, and in turn invested into 41 projects totaling over $1.1 billion in development costs. These projects have provided rehabilitation and construction of over 3.7 million square feet of commercial space and 942 housing units with 25% of those units qualifying as affordable under the NMTC Program, creating over 9,300 construction and permanent jobs. CNMIF II has utilized NMTCs to support 10 schools/training centers, 3 healthy food grocers and 20 community facilities.CDA-CRF is a 4.6% limited partner in CDP II, which has made 92 investments by providing over $156 million in financing into 77 projects totaling over $2.1 billion in development costs. The financing of these projects has provided construction and rehabilitation of over 5.6 million square feet in commercial space and over 3,100 housing units, as well as 7 grocery store/healthy food focused projects and 4 major attractions in Cleveland including Progressive Field, Rocket Mortgage Fieldhouse, Browns Stadium and Rock and Roll Hall of Fame.CDA-CRF is a 3.77% Class A Investor in ACDF, which to date, has provided over $83.1 million in financing into 31 projects totaling over $679 million in development costs. The financing of these projects has provided construction and rehabilitation of over 2.6 million square feet of commercial and residential space and over 2,500 housing units.CDA-CRF is an 8.75% Class B Investor in Opportunity CLE Loan Fund (OCLF), CDA's newest investment fund officially capitalized as a $40 million loan fund in 2024. OCLF will provide capital to support transformative, strategic and catalytic projects that provide a positive social and economic return in targeted low-income communities across Northeast Ohio with a focus in Cuyahoga County, Ohio. CDA-CRF also serves as the managing member of OCLF. OCLF began making investments in 2024, and to date has provided financing to 5 projects totaling $13.8 million with over $93.3 million in total development costs. 538936 0 0 Development Services:Since 2019, CDA-CRF has focused on strengthening partnerships with community development corporations, developers, and other stakeholders to initiate a city-wide collaborative to support and advance emerging developers with real estate projects within Cleveland as well as building its own Development Services platform. CDA-CRF's Development Services platform is built around three key, interrelated programs: Developer-in-Residence program (DIR), the Development Ecosystem Collaborative (DEC), and the Cleveland Emerging Developer Initiative (CLE-EDI). Together, the components of these programs provide technical assistance to emerging real estate developers that seek to build industry partnerships and deliver direct training. The technical assistance support that is provided by CDA-CRF 's development services programs to emerging developers are crucial components of being able to help advance the projects forward from early stages, through predevelopment and ultimately to a full closing of a capital stack and ultimately supporting the operations and sustainability of a project.The Developer-in-Residence (DIR) program offers customized technical assistance to emerging developers, enabling them to move real estate projects forward with greater confidence and capacity. This support includes CDA-CRF directly entering into technical assistance (TA) agreements with the developers and may also include consultants or professional services firms that have been identified to assist on certain identified needs and tasks that emerging developers may not yet be able to handle independently. This hands-on support model helps bridge immediate technical gaps while developers continue to build their capabilities.Development Ecosystem Collaborative (DEC) is a CDA-CRF led partnership made up of local financial institutions, community development financial institutions (CDFIs), banks, and other mission-aligned entities. The purpose of this collaborative is to foster cross-sector coordination and align capital and resources around development goals for emerging developers. The DEC functions as a strategy table-bringing together banks and mission investors to share insights, analyze project pipelines, identify systemic gaps, and promote shared investment development opportunities. This collaborative framework has become a critical asset for amplifying CDA's development services and advancing community-driven outcomes.Cleveland Emerging Developer Initiative (CLE EDI) is a cohort-based training program that provides participants with a structured curriculum designed to enhance their real estate development knowledge, strengthen professional networks, and prepare them to lead teams on development projects. The program includes group training, mentorship, and access to targeted technical assistance. In addition, the CLE EDI cohort members receive individualized support throughout the program and often continue to receive assistance post-cohort, helping them transition from theoretical knowledge to real-world execution. CLE-EDI serves as a pipeline for cultivating emerging developers and is a foundational piece of CDA's broader strategy to support community-rooted real estate development. CLE-EDI was an initial 2-year pilot program that launched its inaugural cohort in October 2023, and CDA-CRF had partnership with Capital Impact Partners (CIP), a national CDFI, and Village Capital Corporation (VCC), a local Cleveland based CDFI. The inaugural cohort included 15 participants that committed to engage in an intensive 8-month curriculum designed to foster emerging developers looking to enter the real estate development landscape in Cleveland. The inaugural cohort graduated in June 2024. In September 2024, the second cohort was launched with 15 new participants who will go through the same 8-month program and the program concludes in May 2025. Together, CDA-CRF and VCC were able to provide the participants of both cohorts with predevelopment grants to support their projects. 538936 0 0 3718700 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 47 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 1 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 OH X Yvette M Ittu 2165922274 1240 Huron Road 300 Cleveland OH 44115 X Renee Csuhran Chair 2.00 0.00 X X 0 0 0 Robert O'Brien Vice Chair 2.00 0.00 X X 0 0 0 Rudy Bentlage Treasurer 1.00 0.00 X X 0 0 0 Debbie Berry Director 1.00 0.00 X 0 0 0 Keith S Burgess Director 1.00 0.00 X 0 0 0 Robert Eckardt Director 1.00 0.00 X 0 0 0 Jeff Epstein Director 1.00 0.00 X 0 0 0 Keisha Gonzalez Director 1.00 0.00 X 0 0 0 David Jenkins Director 1.00 0.00 X 0 0 0 Kevin Johnson Director 1.00 0.00 X 0 0 0 Vickie Johnson Director until 12/12/24 1.00 0.00 X 0 0 0 Robert Likes Director 1.00 0.00 X 0 0 0 Quentin L McCorvey Sr Director 1.00 0.00 X 0 0 0 Kevin Nowak Director 1.00 0.00 X 0 0 0 Maria Spangler Director until 12/12/24 1.00 0.00 X 0 0 0 Jeffrey J Wild Director 1.00 0.00 X 0 0 0 Brian Williams Director 1.00 0.00 X 0 0 0 Yvette M Ittu President & CEO 4.00 0.00 X 0 0 0 Robert D Labes Secretary 3.00 0.00 X 0 0 0 Margaret S Callesen Assistant Secretary 3.00 0.00 X 0 0 0 0 0 0 0 0 0 0 Greater Cleveland Partnership 1240 Huron Road E Suite 200 Cleveland OH 44115 Accounting & Management Services 1934520 Blooming Venture LLC 9930 Dellwood Avenue Columbia MD 21046 Consulting Services 125000 2 3250000 140837 3390837 Management Services 523940 2578450 2578450 Interest Income-Loans 900001 1232798 1232798 Loan Fees 900001 39000 39000 Equity Invstmts/Grants 900001 -273280 -253213 -20067 3576968 438801 438801 946 946 946 7407552 3597035 -20067 439747 X 481500 481500 1742331 1586706 155625 21708 14250 7458 175504 145167 30337 170182 164432 5750 56484 56334 150 31481 4794 26687 11719 11640 79 20919 20684 235 10963 10753 210 964304 964304 61222 61104 118 Technical Assistance 272320 272320 Memberships/Sponsorship 32607 31991 616 Provision for Loan Loss -148261 -148261 41155 40982 173 3946138 3718700 227438 0 1309123 2684290 5975706 2320573 190000 3250000 178193 183823 25276226 24005869 10577 5670 6792826 10732866 6407871 6116918 46140522 49300009 313821 389441 0 1000000 4470481 3099593 17176909 17166989 21961211 21656023 X 20008409 21004216 4170902 6639770 24179311 27643986 46140522 49300009 3461414 3261 0 X 0 1 X 1 0 X 170200 2383265 960000 5608480 3390837 12512782 2709408 2650803 3259578 3870593 3597035 16087417 2879608 5034068 4219578 9479073 6987872 28600199 300000 350000 85000 735000 2682187 2631632 2658992 7972811 2982187 2981632 2743992 8707811 19892388 29024 4361 73910 466138 438801 1012234 29024 4361 73910 466138 438801 1012234 4600 20978 946 26524 2913232 5038429 4293488 9966189 7427619 29638957 0.67120 0.77990 0.03420 0.02150 X Schedule A, Part III, Line 12, Explanation of Other Income: Other revenue - 2020 Amount: $ 4,600. 2023 Amount: $ 20,978. 2024 Amount: $ 946. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 Equity Investment in Cleveland Development Partnership II, LP 1959558 C Equity Investment in Cleveland New Markets Investments Fund II, LLC 100 C Equity Investment in Advance Cleveland Development Fund, LLC 1097379 C Equity Investment in Opportunity CLE Loan Fund LLC 3059881 C 6116918 Secured Loans Payable- Cleveland Development Partnership II, LP 1981483 Unsecured Loans Payable- Cleveland Development Partnership II, LP 4749131 Unsecured Loans Payable- Advance Cleveland Development Fund, LLC 7612621 Secured Loans Payable- Opportunity CLE Loan Fund LLC 2561154 Allowance for Off-Balance Sheet Credit Exposures 262600 17166989 X Part X, Line 2: CDA-CRF adopted the accounting standard on accounting for uncertainty in income taxes, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the consolidated financial statements. Under this guidance, CDA-CRF may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on technical merits of the position. Examples of tax positions include the tax-exempt status of CDA-CRF and various positions related to the potential sources of unrelated business taxable income (UBIT). The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater of 50 percent likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also addresses de-recognition, reclassification, interest and penalties on income taxes, and accounting in interim periods. At December 31, 2024 and 2023 there were no unrecognized tax benefits identified or recorded as liabilities. 1 89th Rising LLC 11459 Mayfield Road Suite 339 Cleveland OH 44106 933946983 40000 0 Grant provided for grantee to retain an owners representative tied to the new construction of 89th Rising Housing Development that is bringing 48 new residential rental units to the Fairfax neighborhood. BridgePort Group LLC 55 Erieview Plaza Suite 328 Cleveland OH 44114 474423340 50000 0 Grantee ownership was participant in the inaugural Cleveland Emerging Developer Initiative Cohort and had 1st place winning project and received the grant to be utilized for predevelopment costs associated with the project. Lael Developers Inc PO Box 307686 Gahanna OH 43230 992136997 30000 0 Grantee ownership was participant in the inaugural Cleveland Emerging Developer Initiative Cohort and had 2nd place winning project and received the grant to be utilized for predevelopment costs associated with the project. Pivot Center Leasing LLC 2937 W 25th Street Cleveland OH 44113 882568117 75000 0 Grant provided to the grantee for construction and improvement costs associated with the buildout of additional office space for Cleveland Rape Crisis Center to relocate to the Pivot Center located in the Clark-Fulton neighborhood. WFL Collective 825 10th Street NW Suite 981 Washington DC 20001 873671931 501(c)(3) 250000 0 Grant provided to grantee to support the financing of the construction of the 9410 Hough project that will bring 116 quality affordable housing units and supportive social services to the Hough neighborhood. WRJ Developers LLC 17201 Judson Drive Cleveland OH 44128 842368621 20000 0 Grantee ownership was participant in the inaugural Cleveland Emerging Developer Initiative Cohort and had 3rd place winning project and received the grant to be utilized for predevelopment costs associated with the project. 1 5 Part I, Line 2: CDA-CRF provides grants to organizations that promote community development projects that are located in low income communities and/or serve low-income persons on a case-by-case basis and can include cash grants and outstanding loans converted to grants. Any outstanding loan that would be converted to a grant would be taken to the Investment Review Committee for recommendation of approval. Cash grants to organizations are presented to the Investment Review Committee and then to the full governing board for approval. Form 990, Part VI, Section A, line 3 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. Form 990, Part VI, Section A, line 6 The Organization's sole member is Cleveland Development Advisors, Inc. (CDA). Form 990, Part VI, Section A, line 7a The CDA Board Members and Officers serve as the Directors and Officers of the Organization. Form 990, Part VI, Section B, line 11b 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. Form 990, Part VI, Section B, line 12c 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. Form 990, Part VI, Section B, line 15 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. Form 990, Part VI, Section C, line 19 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). Form 990, Part IX, Line 11a: 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. Cleveland New Markets Investment Fund II LLC 1240 Huron Road E Suite 300 Cleveland OH 44115 201581963 Investment Management OH Cleveland Development Advisors Inc Excluded 670277 2133749 0 0 0.99900 Opportunity CLE Loan Fund LLC 1240 Huron Road E Suite 300 Cleveland OH 44115 384126152 Real Estate Investment OH Cleveland Development Advisors Community Reinvestment Fund Inc Excluded 29049 3544757 0 1 0.08750 Cleveland Development Advisors Inc 1240 Huron Road E Suite 420 Cleveland OH 44115 341608541 Investment/Management OH N/A C 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Opportunity CLE Loan Fund LLC E 2561154 Loans Part IV, Line (1) CDA Funds are as follows: CDP II - Cleveland Development Partnership II is a limited partnership and CDA, Inc. is the General Partner. CDA gets 1% of income and losses - but has no ownership Percentage of the fund. CNMIF II - Cleveland New Markets Investment Fund II, LLC is a limited liability company and CDA, Inc. is the managing member and 0.10% member. ACDF - Advance Cleveland Development Fund, LLC is a limited liability company and CDA, Inc. is the managing member and 0% member. CDP II is the class B member. OCLF - Opportunity CLE Loan Fund, LLC (OCLF) is a limited liability company and CDA-CRF is both the managing member of OCLF as well as a Class B Investor Member with 8.75% of the fund.