Cleveland Museum Of Art 2 General Endowment Fund Trust
- Assets
- $3.3m
- Revenue
- $128.1k
- Investments
- $3.3m
- Employees
- 0
- Location
- Brooklyn, OH
- Founding
- 08/1971
- Data as of
- 12/2020
- EIN
- 34-6500656
Organization Overview
Cleveland Museum Of Art 2 General Endowment Fund Trust is located in Brooklyn, OH. The organization was established in 1971. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cleveland Museum Of Art 2 General Endowment Fund Trust 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 Museum Of Art 2 General Endowment Fund Trust generated $128.1k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $198.8k during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
GRANTS ARE MADE ACCORDING TO THE TRUST AGREEMENT DATEDOCTOBER 19, 1923 TO THE CLEVELAND MUSEUM OF ART. THE TRUSTEESARE DIRECTED TO PAY THE NET INCOME OF THE TRUST QUARTERLY TO AIDTHE CLEVELAND MUSEUM OF ART IN DEFRAYING ITS OPERATING EXPENSEAND FOR THE PURCHASE OF WORKS OF ART FOR THE MUSEUM. UNDER THEOHIO INSTITUTIONAL TRUST FUNDS ACT OF 1999, THE BENEFICIARY HAS CHOSENTO RECEIVE THE MAXIMUM OF INCOME BASED ON THE GREATER OF 5% OF AFVOR TRADITIONAL INCOME. KEYBANK MAINTAINS A RESPONSIVENESS TO THE NEEDS AND ACTIVITIES OF THE BENEFICIARY ORGANIZATION IN THE ATTAINMENTOF ITS MISSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS PAID TO CLEVELAND MUSUEM OF ART TO ASSIST WITH ITS OPERATING EXPENSES AND PURCHASE OF ART.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
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 | $51,760 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $76,362 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $128,122 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $195,064 |
| 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. | $2,130 |
| Compensation of current officers, directors, key employees. | $2,130 |
| 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 | $1,000 |
| 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 | $602 |
| Total functional expenses | $198,796 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,294,393 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,294,393 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $3,294,393 |
| 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 | $3,294,393 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Flint Cultural Center Foundation Flint, MI | $6,829,890 | $10,292,865 |
Indianapolis Symphony Orchestra Foundation Inc Indianapolis, IN | $120,040,413 | $10,534,808 |
Commonwealth Fund For Ket Inc Lexington, KY | $35,205,433 | $8,912,254 |
Minnetrista Cultural Foundation Inc Muncie, IN | $19,419,646 | $5,083,805 |
Toledo Alliance For The Performing Arts Toledo, OH | $24,676,048 | $6,839,703 |
Mary Louise Curtis Bok Foundation Philadelphia, PA | $100,159,634 | $12,712,681 |
Air Force Museum Foundation Inc Wright Patterson Afb, OH | $28,184,823 | $8,102,292 |
Pbs39 Foundation Corporation Bethlehem, PA | $103,089,426 | $11,164,328 |
Conner Prairie Foundation Inc Fishers, IN | $182,758,575 | $6,601,081 |
John L Severance Brooklyn, OH | $58,165,574 | $2,331,201 |
Air Zoo Legacy Foundation Portage, MI | $89,399,860 | $9,308,646 |
Academy Of Music Of Philadelphia Inc Philadelphia, PA | $30,910,650 | $3,266,946 |