Cleveland Foundation
- Assets
- $2.5b
- Revenue
- $116.7m
- Investments
- $1.4b
- Employees
- 100
- Location
- Cleveland, OH
- Founding
- 02/1945
- Data as of
- 12/2020
- 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 12/2021, Cleveland Foundation employed 100 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 12/2020, Cleveland Foundation generated $116.7m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $147.4m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Cleveland Foundation has awarded 5,467 individual grants totaling $748,921,026. 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
2020
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 2021 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 RELATED TO COVID-19. 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 2021 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. MANY OF THESE GRANTS ALIGN WITH THE FOREGOING PROGRAM AREAS AND INCLUDE THE CLEVELAND BLACK FUTURES FUND, FRIENDS OF THE BAIL PROJECT, FUNDERS COLLABORATIVE ON COVID RECOVERY, AND THE GREATER CLEVELAND DIGITAL EQUITY FUND.IN TOTAL, THE LARGEST AREAS OF GRANTMAKING IN 2021 WERE HUMAN SERVICES (24%), EDUCATION AND SCHOLARSHIP (20%), NEIGHBORHOODS AND HOUSING (16%), HEALTH (15%), ARTS AND CULTURE (10%), ENVIRONMENT (7%), PHILANTHROPIC SECTOR (7%) AND ECONOMIC DEVELOPMENT (1%).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald Richard President & CEO | Officer | 60 | $691,355 |
Lillian Kuri Executive Vice President & COO | Officer | 50 | $293,876 |
Rosanne Potter Senior Vice President/cfo/treasurer | Officer | 50 | $286,609 |
Kaye Ridolfi Senior Vice President | Officer | 50 | $285,517 |
India Lee Senior Vice President | Officer | 50 | $268,124 |
Helen Williams Program Director | 50 | $202,084 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sangfroid Strategy Llc Program Related Consulting | 12/30/21 | $578,049 |
Monticello Associates Investment Advisor | 12/30/21 | $600,000 |
Advocacy & Communication Solutions Llc Program Related Consulting | 12/30/21 | $569,750 |
Stellar Technology Software License And Operation | 12/30/21 | $369,476 |
Fsg Inc Strategy Consulting | 12/30/21 | $301,254 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $86,280,565 |
| Investment income | $25,287,679 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,304,966 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $116,704,950 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $572,489 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,231,610 |
| Compensation to disqualified persons | $927,898 |
| Other salaries and wages | $5,682,030 |
| Pension plan accruals and contributions | $759,803 |
| Other employee benefits | $1,150,610 |
| Payroll taxes | $567,469 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $321,060 |
| Fees for services: Accounting | $162,349 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,722,053 |
| Fees for services: Other | $1,071,433 |
| Advertising and promotion | $227,284 |
| Office expenses | $210,850 |
| Information technology | $918,241 |
| Royalties | $0 |
| Occupancy | $1,143,432 |
| Travel | $28,393 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $371,707 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $198,785 |
| Insurance | $65,471 |
| All other expenses | $0 |
| Total functional expenses | $147,398,382 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,522,286 |
| Savings and temporary cash investments | $199,668,137 |
| Pledges and grants receivable | $500,000 |
| Accounts receivable, net | $5,068,016 |
| 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 | $86,796 |
| Investments—publicly traded securities | $828,329,767 |
| Investments—other securities | $1,365,901,842 |
| Investments—program-related | $22,196,744 |
| Intangible assets | $0 |
| Other assets | $3,627,841 |
| Total assets | $2,462,394,752 |
| Accounts payable and accrued expenses | $3,454,192 |
| 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 | $256,877,181 |
| Total liabilities | $260,331,373 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $2,202,063,379 |
Grants Awarded
Over the last fiscal year, Cleveland Foundation has awarded $118,176,005 in support to 880 organizations.
| Grant Recipient | Amount |
|---|---|
Shaker Heights, OH PURPOSE: PET PALS IN MEMORY OF SNOWFLAKE | $6,302,183 |
Cleveland, OH PURPOSE: PURCHASE OR REPLACMENT OF REFERENCE BOOKS FOR THE LIBRARY OF WESTERN RESERVE COLLEGE | $5,116,745 |
Cleveland, OH PURPOSE: DELIVER FOOD AND HYGIENE PRODUCTS TO LOW-INCOME SENIOR RESIDENTS IN THE HOUGH, GLENVILLE AND ST. CLAIR-SUPERIOR NEIGHBORHOODS | $3,125,400 |
Cleveland, OH PURPOSE: COHORT 18 OF THE JANE D. WHITE SCHOLARS PROGRAM | $2,970,425 |
Independence, OH PURPOSE: RESEARCH IN DISEASES OF THE EYE | $2,376,255 |
Cleveland, OH PURPOSE: CLEVELAND DOCUMENTERS | $2,151,128 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Cleveland Foundation has recieved totaling $50,200.
| Awarding Organization | Amount |
|---|---|
The Iv Fund Folsom, CA PURPOSE: GENERAL SUPPORT | $50,000 |
Barrett Family Foundation San Antonio, TX PURPOSE: COMMUNITY SUPPORT TO SUPPORT MEDICAL SOCIETY | $200 |
Endowment Analysis
| Beg. Balance | $1,449,421,693 |
| Earnings | $235,369,767 |
| Admin Expense | $16,337,360 |
| Net Contributions | $11,480,181 |
| Other Expense | $3,016,620 |
| Grants | $57,134,039 |
| Ending Balance | $1,619,783,622 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Endowment Foundation Hudson, OH | $7,068,290,344 | $2,685,508,863 |
Columbus Foundation Columbus, OH | $2,241,760,925 | $316,145,889 |
Cleveland Foundation Cleveland, OH | $2,462,394,752 | $116,704,950 |
Greater Cincinnati Foundation Cincinnati, OH | $931,686,456 | $157,180,384 |
Community Foundation For Southeast Michigan Detroit, MI | $1,124,768,291 | $250,946,101 |
Pittsburgh Foundation Pittsburgh, PA | $1,354,368,497 | $110,535,351 |
Philadelphia Foundation Philadelphia, PA | $669,216,014 | $72,684,648 |
Central Indiana Community Foundation Inc Indianapolis, IN | $548,109,976 | $56,175,018 |
The Community Foundation Of Louisville Inc Louisville, KY | $675,486,716 | $70,628,491 |
Dayton Foundation Dayton, OH | $614,105,736 | $82,530,515 |
Battle Creek Community Foundation Battle Creek, MI | $135,380,333 | $32,635,612 |
Kalamazoo Community Foundation Kalamazoo, MI | $677,092,659 | $78,067,850 |