Cleveland Festival Of Art And Technology Inc
Cleveland Festival Of Art And Technology Inc shows revenue growth but increasing liabilities and recent deficit spending.
EIN: 202031718 · Cleveland, OH · NTEE: A20 · Updated: 2026-03-28
Is Cleveland Festival Of Art And Technology Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Cleveland Festival Of Art And Technology Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Cleveland Festival Of Art And Technology Inc
Cleveland Festival Of Art And Technology Inc (EIN: 202031718) is a nonprofit organization based in Cleveland, OH, classified under NTEE code A20. The organization reported total revenue of $1.0M and total assets of $1.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cleveland Festival Of Art And Technology Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Cleveland Festival Of Art And Technology Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Cleveland Festival Of Art And Technology Inc allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is highly favorable for a nonprofit of its size with over $600,000 in annual revenue.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Cleveland Festival Of Art And Technology Inc's IRS 990 filings:
- Consistent deficit spending in recent years (e.g., 2023 expenses $701,506 vs. revenue $641,387)
- Significant increase in liabilities from $20,104 in 2022 to $829,549 in 2023, warranting further investigation.
Strengths
The following positive indicators were identified for Cleveland Festival Of Art And Technology Inc:
- Consistent revenue growth over the past several years, from $407,617 in 2020 to $641,387 in 2023.
- 0% officer compensation reported across all filings, indicating efficient use of funds for leadership.
- Long history of IRS 990 filings (14 filings), demonstrating commitment to transparency.
- Substantial asset growth, from $397,360 in 2022 to $1,109,103 in 2023.
Frequently Asked Questions about Cleveland Festival Of Art And Technology Inc
Is Cleveland Festival Of Art And Technology Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Cleveland Festival Of Art And Technology Inc (EIN: 202031718) some concerns. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.
How does Cleveland Festival Of Art And Technology Inc spend its money?
Cleveland Festival Of Art And Technology Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Cleveland Festival Of Art And Technology Inc tax-deductible?
Cleveland Festival Of Art And Technology Inc is registered as a tax-exempt nonprofit (EIN: 202031718). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Cleveland Festival Of Art And Technology Inc financially stable given its recent deficits?
The organization has reported expenses exceeding revenue in several recent periods (e.g., 2023 and 2022). While assets have grown, the substantial increase in liabilities to $829,549 in 2023, compared to $20,104 in 2022, raises concerns about its long-term financial stability and the nature of these liabilities.
What caused the significant increase in liabilities in 2023?
The IRS 990 data shows liabilities jumped from $20,104 in 2022 to $829,549 in 2023. Without further detail from the full 990 form, it's unclear if this is due to deferred revenue, program-related debt, or other financial obligations.
How does the organization fund its operations if it frequently spends more than it earns?
The organization has experienced periods where expenses exceeded revenue. This could be covered by drawing down prior year surpluses, utilizing lines of credit, or through the significant increase in liabilities observed in the 2023 filing.
Filing History
IRS 990 filing history for Cleveland Festival Of Art And Technology Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2023), Cleveland Festival Of Art And Technology Inc's revenue has grown by 21.5%, moving from $528K to $641K. Total assets increased by 1805.9% over the same period, from $58K to $1.1M. Total functional expenses rose by 40.8%, from $498K to $702K. In its most recent filing year (2023), Cleveland Festival Of Art And Technology Inc reported a deficit of $60K, with expenses exceeding revenue. The organization holds $830K in liabilities against $1.1M in assets (debt-to-asset ratio: 74.8%), resulting in net assets of $280K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $641K | $702K | $1.1M | $830K | — | — |
| 2022 | $633K | $696K | $397K | $20K | — | View 990 |
| 2021 | $510K | $358K | $450K | $10K | — | View 990 |
| 2020 | $408K | $276K | $329K | $41K | — | View 990 |
| 2019 | $494K | $576K | $236K | $79K | — | View 990 |
| 2018 | $436K | $503K | $249K | $10K | — | View 990 |
| 2017 | $634K | $473K | $337K | $31K | — | View 990 |
| 2016 | $390K | $334K | $170K | $25K | — | View 990 |
| 2015 | $321K | $356K | $118K | $29K | — | View 990 |
| 2014 | $0 | $0 | $150K | $25K | — | View 990 |
| 2013 | $123K | $30K | $161K | $38K | — | View 990 |
| 2013 | $488K | $460K | $88K | $58K | — | View 990 |
| 2012 | $442K | $431K | $77K | $74K | — | View 990 |
| 2011 | $528K | $498K | $58K | $66K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $641K, expenses of $702K, and assets of $1.1M (revenue +1.4% year-over-year).
- 2022: Revenue of $633K, expenses of $696K, and assets of $397K (revenue +23.9% year-over-year).
- 2021: Revenue of $510K, expenses of $358K, and assets of $450K (revenue +25.2% year-over-year).
- 2020: Revenue of $408K, expenses of $276K, and assets of $329K (revenue -17.5% year-over-year).
- 2019: Revenue of $494K, expenses of $576K, and assets of $236K (revenue +13.2% year-over-year).
- 2018: Revenue of $436K, expenses of $503K, and assets of $249K (revenue -31.2% year-over-year).
- 2017: Revenue of $634K, expenses of $473K, and assets of $337K (revenue +62.4% year-over-year).
- 2016: Revenue of $390K, expenses of $334K, and assets of $170K (revenue +21.7% year-over-year).
- 2015: Revenue of $321K, expenses of $356K, and assets of $118K.
- 2014: Revenue of $0, expenses of $0, and assets of $150K (revenue -100.0% year-over-year).
- 2013: Revenue of $123K, expenses of $30K, and assets of $161K (revenue -74.8% year-over-year).
- 2013: Revenue of $488K, expenses of $460K, and assets of $88K (revenue +10.5% year-over-year).
- 2012: Revenue of $442K, expenses of $431K, and assets of $77K (revenue -16.3% year-over-year).
- 2011: Revenue of $528K, expenses of $498K, and assets of $58K.
Data Sources and Methodology
This transparency report for Cleveland Festival Of Art And Technology Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.