Kelvin And Eleanor Smith Foundation
- Assets
- $162.9m
- Revenue
- $13.1m
- Investments
- $154.0m
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 08/1957
- Data as of
- 12/2022
- EIN
- 34-6555349
Organization Overview
Kelvin And Eleanor Smith Foundation is located in Cleveland, OH. The organization was established in 1957. 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. Kelvin And Eleanor Smith 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, Kelvin And Eleanor Smith Foundation generated $13.1m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $7.9m during the year ending 12/2022. While expenses have increased by 6.9% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Kelvin And Eleanor Smith Foundation has awarded 268 individual grants totaling $20,764,154. 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 |
|---|---|---|---|
Julie A Boland Trustee | 0.5 | $0 | |
Carey F Jaros Trustee | 0.5 | $0 | |
Hiroyuki Fujita Trustee | 0.5 | $0 | |
Vanessa Mavec King Treasurer | 0.5 | $0 | |
William B Laplace Trustee | 0.5 | $0 | |
David M Lenz Secretary | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Marquette Wealth Management | 12/30/21 | $172,000 |
Edgewood Management Llc | 12/30/21 | $77,510 |
Bny Mellon | 12/30/21 | $71,669 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,591,417 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $10,308,672 |
| Capital Gain Net Income | $10,308,672 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $155,844 |
| Total Revenue | $13,055,933 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $265,000 |
| Other employee salaries and wages | $160,000 |
| Pension plans, employee benefits | $28,961 |
| Interest | $0 |
| Taxes | $543,810 |
| Depreciation | $0 |
| Occupancy | $41,838 |
| Travel, conferences, and meetings | $554 |
| Printing and publications | $0 |
| Other expenses | $95,835 |
| Total operating and administrative expenses | $1,596,087 |
| Contributions, gifts, grants paid | $6,346,214 |
| Total expenses and disbursements | $7,942,301 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $8,910,357 |
| 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 | $30,806,625 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $162,872,876 |
| 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, Kelvin And Eleanor Smith Foundation has awarded $6,346,214 in support to 91 organizations.
| Grant Recipient | Amount |
|---|---|
BOYS & GIRLS CLUBS OF CLEVELAND PURPOSE: GENERAL OPERATING SUPPORT | $32,500 |
ACHIEVEMENT CENTERS FOR CHILDREN PURPOSE: GENERAL OPERATING SUPPORT | $23,333 |
ART THERAPY STUDIO PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
BECK CENTER FOR THE ARTS PURPOSE: GENERAL OPERATING SUPPORT | $20,000 |
APOLLO'S FIRE PURPOSE: GENERAL OPERATING SUPPORT | $20,000 |
BOYS HOPE GIRLS HOPE PURPOSE: GENERAL OPERATING SUPPORT | $15,000 |