Lerner Foundation
- Assets
- $3.1m
- Revenue
- $2.1m
- Investments
- $1.9m
- Employees
- 0
- Location
- Richmond Heights, OH
- Founding
- 08/1993
- Data as of
- 12/2022
- EIN
- 34-1744726
Organization Overview
Lerner Foundation is located in Richmond Heights, OH. The organization was established in 1993. 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. Lerner 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 12/2022, Lerner Foundation generated $2.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 19.9% each year . All expenses for the organization totaled $1.7m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Lerner Foundation has awarded 60 individual grants totaling $4,979,600. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Norma Lerner President/treasurer | 0 | $0 | |
Randolph Lerner Vice President | 0 | $0 | |
Nancy Lerner Vice President | 0 | $0 | |
Douglas C Jacobs Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $977 |
| Dividends & Interest | $31,892 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,501,602 |
| Capital Gain Net Income | $1,501,602 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $574,358 |
| Total Revenue | $2,108,829 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5,015 |
| Total operating and administrative expenses | $8,961 |
| Contributions, gifts, grants paid | $1,643,000 |
| Total expenses and disbursements | $1,651,961 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,205,248 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $423,689 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,136,043 |
| 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, Lerner Foundation has awarded $1,643,000 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
CLEVELAND ORCHESTRA PURPOSE: GENERAL OPERATIONS | $350,000 |
JEWISH FEDERATION OF CLEVELAND PURPOSE: GENERAL OPERATIONS | $510,000 |
US HOLOCAUST MEMORIAL MUSEUM PURPOSE: GENERAL OPERATIONS | $3,600 |
CASE WESTERN RESERVE UNIVERSITY PURPOSE: GENERAL OPERATIONS | $301,000 |
MEMORIAL SLOAN KETTERING CANCER CENTER PURPOSE: GENERAL OPERATIONS | $100,000 |
FOUNDATION FOR ART & PRESERVATION IN EMBASSIES PURPOSE: GENERAL OPERATIONS | $20,000 |