Cleveland Institute Of Art
- Assets
- $113.8m
- Revenue
- $37.8m
- Investments
- $0.0
- Employees
- 509
- Location
- Cleveland, OH
- Founding
- 06/1920
- Data as of
- 06/2022
- EIN
- 34-0714334
Organization Overview
Cleveland Institute Of Art is located in Cleveland, OH. The organization was established in 1920. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Cleveland Institute Of Art employed 509 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cleveland Institute Of Art 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 06/2022, Cleveland Institute Of Art generated $37.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $36.8m during the year ending 06/2022. While expenses have increased by 2.1% per year over the past 7 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO CULTIVATE CREATIVE LEADERS WHO INSPIRE PEOPLE, STRENGTHEN COMMUNITIES, AND CONTRIBUTE TO A THRIVING AND SUSTAINABLE ECONOMY THROUGH AN INNOVATIVE EDUCATION IN ART AND DESIGN.
Describe the Organization's Program Activity:
THE CLEVELAND INSTITUTE OF ART IS AN INDEPENDENT COLLEGE OF ART AND DESIGN COMMITTED TO LEADERSHIP AND VISION IN ALL FORMS OF VISUAL ARTS EDUCATION. THE INSTITUTE'S MISSION IS TO MAKE AN ENDURING CONTRIBUTION THROUGH EDUCATION, RESEARCH AND SERVICE TO DIVERSE COMMUNITIES, BOTH IMMEDIATE AND GLOBAL. THE INSTITUTE RECOGNIZES THE IMPORTANCE OF THE VISUAL ARTS IN CULTURE AND THE POTENTIAL FOR ARTISTS TO CONTRIBUTE TO THE NEEDS OF SOCIETY. STUDENTS EARN A BACHELOR OF FINE ARTS DEGREE UPON SUCCESSFUL COMPLETION OF THE PROGRAM. THE UNDERGRADUATE PROGRAM HAD 573 STUDENTS ENROLLED IN THE FALL OF 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Josie Anderson Director | Trustee | 1 | $0 |
Fran Belkin Officer Of Board | Trustee | 5 | $0 |
Amy Bendall Director | Trustee | 1 | $0 |
Marianne Bernadotte Director | Trustee | 1 | $0 |
William Busta Director | Trustee | 1 | $0 |
David Buttram Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ajappjr Uptown Ii Llc Rental-student Housing | 6/29/22 | $773,418 |
Case Western Reserve University Student Support Svcs. | 6/29/22 | $1,466,779 |
Allied Universal Security Services Security | 6/29/22 | $483,099 |
Jdd Inc Cleaning Services | 6/29/22 | $293,468 |
Jenzabar Software Maintenance | 6/29/22 | $216,570 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,844,761 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,453,678 |
| Noncash contributions included in lines 1a–1f | $406,447 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,298,439 |
| Total Program Service Revenue | $28,647,450 |
| Investment income | $1,538,666 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$78,691 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,790,309 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $13,973,393 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $729,207 |
| Compensation of current officers, directors, key employees. | $385,803 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,797,947 |
| Pension plan accruals and contributions | $202,241 |
| Other employee benefits | $1,302,135 |
| Payroll taxes | $711,090 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $45,002 |
| Fees for services: Accounting | $88,545 |
| Fees for services: Lobbying | $60,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $124,928 |
| Fees for services: Other | $588,110 |
| Advertising and promotion | $762,104 |
| Office expenses | $323,464 |
| Information technology | $477,629 |
| Royalties | $0 |
| Occupancy | $3,569,675 |
| Travel | $19,599 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $71,829 |
| Interest | $859,132 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,897,789 |
| Insurance | $197,102 |
| All other expenses | $916,318 |
| Total functional expenses | $36,780,819 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,114,881 |
| Savings and temporary cash investments | $1,093,239 |
| Pledges and grants receivable | $1,435,592 |
| Accounts receivable, net | $1,067,394 |
| 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 | $1,037,576 |
| Net Land, buildings, and equipment | $60,267,394 |
| Investments—publicly traded securities | $30,117,324 |
| Investments—other securities | $0 |
| Investments—program-related | $848,226 |
| Intangible assets | $0 |
| Other assets | $8,834,367 |
| Total assets | $113,815,993 |
| Accounts payable and accrued expenses | $1,461,905 |
| Grants payable | $0 |
| Deferred revenue | $528,245 |
| Tax-exempt bond liabilities | $16,733,652 |
| 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 | $10,691,427 |
| Total liabilities | $29,415,229 |
| Net assets without donor restrictions | $59,260,388 |
| Net assets with donor restrictions | $25,140,376 |
| 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 | $113,815,993 |