Cleveland Foundation
- Assets
- $2.8b
- Revenue
- $179.4m
- Investments
- $1.6b
- Employees
- 107
- Location
- Cleveland, OH
- Founding
- 02/1945
- Data as of
- 12/2021
- EIN
- 34-0714588
Organization Overview
Cleveland Foundation is located in Cleveland, OH. The organization was established in 1945. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Cleveland Foundation employed 107 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cleveland Foundation 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 12/2021, Cleveland Foundation generated $179.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $145.0m during the year ending 12/2021. While expenses have increased by 4.0% per year over the past 6 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.
Since 2014, Cleveland Foundation has awarded 6,432 individual grants totaling $874,798,980. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CLEVELAND FOUNDATION'S MISSION IS TO ENHANCE THE LIVES OF ALL RESIDENTS OF GREATER CLEVELAND, NOW AND FOR GENERATIONS TO COME, BY WORKING TOGETHER WITH OUR DONORS TO BUILD COMMUNITY ENDOWMENT, ADDRESS NEEDS THROUGH GRANTMAKING, AND PROVIDE LEADERSHIP ON KEY COMMUNITY ISSUES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLEVELAND FOUNDATION IS A GRANTMAKING ORGANIZATION. APPROXIMATELY HALF OF THE GRANTS AUTHORIZED IN 2022 WERE DIRECTED BY THE BOARD TOWARD STRATEGIC INITIATIVES AND COMMUNITY RESPONSIVE REQUESTS THAT ADDRESS VITAL COMMUNITY NEEDS IN GREATER CLEVELAND AND RESPONDED TO EMERGING CHARITABLE NEEDS. PROGRAM AREAS INCLUDE ARTS AND CULTURE, ECONOMIC DEVELOPMENT, EDUCATION, ENVIRONMENT, HEALTH, NEIGHBORHOODS AND YOUTH & HUMAN SERVICES. IN ADDITION, INITIATIVES INCLUDE LEADERSHIP DEVELOPMENT, DIGITAL EXCELLENCE, RACIAL EQUITY & JUSTICE AND DEMOCRACY & ACCESS TO INFORMATION.THE OTHER HALF OF THE GRANTS AUTHORIZED IN 2022 WERE DESIGNATED OR ADVISED BY DONORS TO THE CLEVELAND FOUNDATION IN VARIOUS TRUSTS, DESIGNATED FUNDS, DONOR ADVISED FUNDS, OR SUPPORTING ORGANIZATIONS. THESE GRANTS FURTHER THE CHARITABLE PURPOSES OF THE CLEVELAND FOUNDATION AND ARE MADE TO OTHER CHARITABLE ORGANIZATIONS AND PROGRAMS FOR THE BENEFIT OF THE CLEVELAND FOUNDATION AND ITS CHARITABLE PURPOSES. THESE GRANTS ALIGN WITH THE FOREGOING PROGRAM AREAS AND INCLUDE THESE IMPORTANT PROGRAMS OF THE FOUNDATION: THE CLEVELAND BLACK FUTURES FUND, FRIENDS OF THE BAIL PROJECT, AND THE GREATER CLEVELAND DIGITAL EQUITY FUND.IN TOTAL, THE LARGEST AREAS OF GRANTMAKING IN 2022 WERE HUMAN SERVICES (23%), EDUCATION AND SCHOLARSHIP (20%), NEIGHBORHOODS AND HOUSING (11%), HEALTH (16%), ARTS AND CULTURE (12%), ENVIRONMENT (4%), PHILANTHROPIC SECTOR (12%) AND ECONOMIC DEVELOPMENT (2%).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sally Gries Chairman And Director (thru 3/31/22) | OfficerTrustee | 4 | $0 |
Connie Hill-Johnson Chairman (eff. 4/1/22) & Director | OfficerTrustee | 4 | $0 |
Carrie Carpenter Vice Chair (eff 4/1/22) & Director | OfficerTrustee | 2 | $0 |
Ronald Adrine Director (eff 4/1/22) | Trustee | 2 | $0 |
Fred Bidwell Director | Trustee | 2 | $0 |
Aparna Bole Director (eff 4/1/22 Thru 7/1/22) | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Monticello Associates Investment Advisor | 12/30/22 | $600,000 |
Sangfroid Strategy Llc Program Related Consulting | 12/30/22 | $592,460 |
Advocacy & Communication Solutions Llc Program Related Consulting | 12/30/22 | $428,000 |
Stellar Technology Software License And Operation | 12/30/22 | $341,170 |
Dira Partners Llc Program Strategic Consulting | 12/30/22 | $360,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $92,318,821 |
| Investment income | $25,852,369 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $59,457,333 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $179,374,020 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $541,512 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,283,285 |
| Compensation to disqualified persons | $1,080,470 |
| Other salaries and wages | $6,088,250 |
| Pension plan accruals and contributions | $810,557 |
| Other employee benefits | $1,227,405 |
| Payroll taxes | $609,881 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $128,199 |
| Fees for services: Accounting | $187,457 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,587,899 |
| Fees for services: Other | $1,011,859 |
| Advertising and promotion | $115,641 |
| Office expenses | $201,214 |
| Information technology | $953,931 |
| Royalties | $0 |
| Occupancy | $990,267 |
| Travel | $27,116 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $422,677 |
| Interest | $110,167 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $183,493 |
| Insurance | $133,713 |
| All other expenses | $0 |
| Total functional expenses | $144,962,005 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,817,970 |
| Savings and temporary cash investments | $247,182,328 |
| Pledges and grants receivable | $400,000 |
| Accounts receivable, net | $8,597,935 |
| 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 |
| Investments—publicly traded securities | $901,168,064 |
| Investments—other securities | $1,601,825,021 |
| Investments—program-related | $22,940,833 |
| Intangible assets | $0 |
| Other assets | $3,788,143 |
| Total assets | $2,806,690,965 |
| Accounts payable and accrued expenses | $4,594,413 |
| Grants payable | $0 |
| 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 | $323,242,645 |
| Total liabilities | $327,837,058 |
| Net assets without donor restrictions | $1,241,373,138 |
| Net assets with donor restrictions | $1,237,480,769 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $2,478,853,907 |
Grants Awarded
Over the last fiscal year, Cleveland Foundation has awarded $125,877,954 in support to 965 organizations.
| Grant Recipient | Amount |
|---|---|
FRIENDS OF THE CUYAHOGA COUNTY ANIMAL SHELTER PURPOSE: GENERAL SUPPORT | $12,000 |
100 BLACK MEN OF CLEVELAND INCORPORATED PURPOSE: CAPACITY BUILDING - STAFF, STRATEGIC PLAN, FUNDRAISING, & MARKETING | $25,000 |
1000 TIES PURPOSE: 1,000 TIES MENTORING PROGRAM | $28,000 |
99TREASURES ARTS & CULTURE PURPOSE: 99 TREASURES ARTS4PEACE | $40,000 |
A KID AT ART FOR THE HEART INC PURPOSE: SUPPORTING PRESCHOOL ART EDUCATION IN UNDERSERVED LAKE AND GEAUGA SETTINGS | $37,500 |
THE MCGREGOR FOUNDATION PURPOSE: GENERAL SUPPORT | $129,642 |