Madav Ix Foundation
- Assets
- $13.3m
- Revenue
- $847.0k
- Investments
- $5.1m
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 03/1990
- Data as of
- 06/2022
- EIN
- 34-1638258
Organization Overview
Madav Ix Foundation is located in Cleveland, OH. The organization was established in 1990. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Madav Ix 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 06/2022, Madav Ix Foundation generated $847.0k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 0.0% each year. All expenses for the organization totaled $482.2k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Madav Ix Foundation has awarded 56 individual grants totaling $2,751,175. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FURTHER THE CHARITABLE, EDUCATIONAL AND RELIGIOUS PURPOSES OF THE JEWISH FEDERATION OF CLEVELAND (FEDERATION).
Describe the Organization's Program Activity:
GRANTS TO 501(C)(3) ORGANIZATIONS MADE TO SUPPORT THE CHARITABLE, EDUCATIONAL AND RELIGIOUS PURPOSES OF THE JEWISH FEDERATION OF CLEVELAND (FEDERATION).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erika Rudin-Luria Trustee; Vice Pres | OfficerTrustee | 0.3 | $0 |
Barry Reis Trustee/treasurer | OfficerTrustee | 0.3 | $0 |
Kari Blumenthal Asst. Treasurer | Officer | 0.2 | $0 |
Matthew A Kaliff Secretary | Officer | 0.2 | $0 |
Gary L Gross Trustee/president | OfficerTrustee | 0.3 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $587,242 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $206,700 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $847,047 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $468,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,830 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $482,205 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,266 |
| 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 | $276,500 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $8,012,855 |
| Investments—other securities | $5,054,884 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,346,505 |
| Accounts payable and accrued expenses | $20,000 |
| Grants payable | $287,000 |
| 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 | $4,000,000 |
| Other liabilities | $0 |
| Total liabilities | $4,307,000 |
| Net assets without donor restrictions | $9,039,505 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $13,346,505 |
Grants Awarded
Over the last fiscal year, Madav Ix Foundation has awarded $468,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
JEWISH FEDERATION OF CLEVELAND PURPOSE: PHILANTHROPIC PROGRAM SUPPORT, CAMPAIGN FOR JEWISH NEEDS, DAY SCHOOL AFFORDABILITY INITIATIVE, FUND FOR SHIN-SHINIM AND ISRAEL ENGAGEMENT | $459,000 |
JEWISH EDUCATION CENTER OF CLEVELAND PURPOSE: 2022 CAMP INCENTIVE SCHOLARSHIPS | $9,000 |