Kulas Foundation
- Assets
- $46.6m
- Revenue
- $1.4m
- Investments
- $45.8m
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 06/1938
- Data as of
- 12/2020
- EIN
- 34-0770687
Organization Overview
Kulas Foundation is located in Cleveland, OH. The organization was established in 1938. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kulas 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, Kulas Foundation generated $1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (13.6%) each year. All expenses for the organization totaled $2.6m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Kulas Foundation has awarded 422 individual grants totaling $17,198,220. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy W Mccann President And Treasurer | 20 | $180,768 | |
Richard J Clark Executive VP And Secretary | 20 | $129,945 | |
Richard W Pogue Chairman Of The Board | 1 | $10,500 | |
Christopher M Kelly Vice President | 1 | $10,500 | |
Heather Lennox Vice President | 1 | $10,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,036,845 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $367,743 |
| Capital Gain Net Income | $367,743 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $5,663 |
| Total Revenue | $1,410,251 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $348,231 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $73,150 |
| Depreciation | $0 |
| Occupancy | $172,208 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $11,410 |
| Total operating and administrative expenses | $801,525 |
| Contributions, gifts, grants paid | $1,846,000 |
| Total expenses and disbursements | $2,647,525 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $158,916 |
| Savings and temporary cash investments | $550,962 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $84,078 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $3,784,727 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $20,863 |
| Total assets | $46,575,789 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Kulas Foundation has awarded $1,618,520 in support to 50 organizations.
| Grant Recipient | Amount |
|---|---|
Cleveland, OH PURPOSE: PROGRAMMATIC SUPPORT | $310,000 |
Cleveland, OH PURPOSE: PROGRAMMATIC SUPPORT | $160,000 |
Cleveland, OH PURPOSE: PROGRAMMATIC SUPPORT | $149,500 |
Berea, OH PURPOSE: PROGRAMMATIC SUPPORT | $104,500 |
Shaker Heights, OH PURPOSE: PROGRAMMATIC SUPPORT | $90,000 |
Cleveland, OH PURPOSE: PROGRAMMATIC SUPPORT | $60,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Douglas & Maria Devos Foundation Grand Rapids, MI | $79,921,409 | $9,501,037 |
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
Fred F Silk Charitable Foundation Louisville, OH | $0 | $2,703,630 |
Jewish Foundation Of Cincinnati Cincinnati, OH | $344,322,004 | $65,111,190 |
Charles F Kettering Foundation Dayton, OH | $413,895,327 | $17,762,033 |
Jay And Jeanie Schottenstein Foundation Columbus, OH | $12,858,446 | $29,259,001 |
Susquehanna Foundation Bala Cynwyd, PA | $640,733,550 | $61,262,452 |
The Lozick Family Foundation Pepper Pike, OH | $264,438,182 | $44,457,050 |
Humana Foundation Inc Louisville, KY | $467,311,073 | $9,744,567 |
Dow Company Foundation Bay City, MI | $175,531,548 | $110,489,699 |