Cleveland Arts Prize
- Assets
- $591.1k
- Revenue
- $266.3k
- Investments
- $498.5k
- Employees
- 1
- Location
- South Euclid, OH
- Founding
- 04/2002
- Data as of
- 12/2023
- EIN
- 01-0627754
Organization Overview
Cleveland Arts Prize is located in South Euclid, OH. The organization was established in 2002. According to its NTEE Classification (A60) the organization is classified as: Performing Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cleveland Arts Prize is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Cleveland Arts Prize generated $266.3k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 13.1% each year . All expenses for the organization totaled $243.0k during the year ending 12/2023. While expenses have increased by 1.9% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE CLEVELAND ARTS PRIZE IDENTIFIES, REWARDS, PUBLICLY HONORS AND PROMOTES THOSE CREATIVE ARTISTS WHOSE ORIGINAL WORK AND ACCOMPLISHMENTS HAVE SET A STANDARD OF EXCELLENCE TO WHICH OTHER ARTISTS CAN ASPIRE. ADDITIONALLY, THE CLEVELAND ARTS PRIZE RECOGNIZES THE CONTRIBUTIONS OF INDIVIDUALS AND ORGANIZATIONS THAT HAVE EXPANDED THE COMMUNITY'S PARTICIPATION IN THE ARTS AND HELPED MAKE THE REGION MORE HOSPITABLE TO CREATIVE ARTISTIC EXPRESSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLEVELAND ARTS PRIZE ("CAP") HELD ITS 62ND ANNUAL AWARDS EVENT ON NOVEMBER 2, 2022 AT THE CLEVELAND MUSEUM OF ART. CAP AWARDED FIVE WORKING ARTISTS ACROSS ALL DISCIPLINES IN EMERGING, MID-CAREER, AND LIFETIME ACHIEVEMENT STAGES OF THEIR CAREER AN UNRESTRICTED PRIZE OF 10,000 EACH. CAP ALSO GAVE HONORARY RECOGNITION TO TWO COMMUNITY LEADERS AND ARTS ADVOCATES FOR THEIR WORK IN THE NORTHEAST OHIO REGION AND BEYOND. THE CEREMONY ALSO REENGAGED PAST WINNERS IN PERFORMANCES AND PRESENTATIONS, AND UNITED CREATIVE INDIVIDUALS ACROSS DISCIPLINES AND ACROSS GENERATIONS. CAP AWARDED FOUR SCHOLARSHIPS THROUGH AREA SCHOOLS TO HIGH SCHOOL AND COLLEGE LEVEL STUDENTS, HELD A FUNDRAISER FEATURING PAST CAP WINNERS IN PERFORMANCE AND SHORT TALKS, AND WAS THE FISCAL MANAGER OF THE INAUGURAL SILENT FILM FESTIVAL, FEATURING A MEMBER OF CAP'S PAST MASTERS' PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erin Jesson Dir. Of Oper | Officer | 40 | $54,277 |
Eftihia Tsengas Executive Di | OfficerTrustee | 40 | $21,750 |
Katie Altadonna Trustee | Trustee | 1 | $0 |
Adam Banks Trustee | Trustee | 1 | $0 |
Michael Belkin Vice Chair | OfficerTrustee | 1 | $0 |
Brian Caine Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $204,401 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $204,401 |
| Total Program Service Revenue | $61,833 |
| Investment income | $32 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $266,266 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $55,700 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $71,750 |
| Compensation of current officers, directors, key employees. | $28,263 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,277 |
| Payroll taxes | $5,209 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,727 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,000 |
| Office expenses | $20,999 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,125 |
| All other expenses | $0 |
| Total functional expenses | $242,975 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,906 |
| Savings and temporary cash investments | $61,775 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $498,453 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $591,134 |
| Accounts payable and accrued expenses | $18,432 |
| Grants payable | $30,000 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $48,432 |
| Net assets without donor restrictions | $44,249 |
| Net assets with donor restrictions | $498,453 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $591,134 |