Cleveland Clinic Foundation

Organization Overview

Cleveland Clinic Foundation is located in Independence, OH. The organization was established in 1928. According to its NTEE Classification (E03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Health Care and related organizations. As of 12/2021, Cleveland Clinic Foundation employed 81,138 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Cleveland Clinic 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 12/2021, Cleveland Clinic Foundation generated $14.3b in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $12.2b during the year ending 12/2021. While expenses have increased by 8.2% per year over the past 7 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 2014, Cleveland Clinic Foundation has awarded 850 individual grants totaling $266,962,633. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

CARING FOR LIFE, RESEARCHING FOR HEALTH AND EDUCATING THOSE WHO SERVE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SEE PROGRAM SERVICE STATEMENT IN SCHEDULE O.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Siemens Medical Solutions Inc
Healthcare It & Engineering Solutions
$22,392,331
Adcom Group Inc
Advertising Services
$19,097,363
Ibm Corp
Information Technology Systems
$17,897,586
The Hci Group
Healthcare It Consulting & Tech Solution
$15,413,478
Qualivis Llc
Personnel Services
$18,276,803
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$14,461,772
Related organizations$21,971,306
Government grants $360,715,856
All other contributions, gifts, grants, and similar amounts not included above$231,884,778
Noncash contributions included in lines 1a–1f $31,680,857
Total Revenue from Contributions, Gifts, Grants & Similar$629,033,712
Total Program Service Revenue$12,387,844,809
Investment income $142,280,190
Tax Exempt Bond Proceeds $0
Royalties $27,842,306
Net Rental Income $33,092,407
Net Gain/Loss on Asset Sales $199,113,198
Net Income from Fundraising Events -$2,947,851
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $14,324,749,704

Grants Awarded

Over the last fiscal year, Cleveland Clinic Foundation has awarded $40,404,340 in support to 108 organizations.

Grant RecipientAmount

THE CLEVELAND CLINIC EDUCATIONAL FOUNDATION

Org PageRecipient Profile

Independence, OH

PURPOSE: HEALTHCARE RESEARCH & EDUCATION

$21,971,306

MARTIN MEMORIAL MEDICAL CENTER

Org PageRecipient Profile

Stuart, FL

PURPOSE: HEALTHCARE RESEARCH & EDUCATION

$5,286,527

THE LAKEWOOD FOUNDATION

Org PageRecipient Profile

Lakewood, OH

PURPOSE: COMMUNITY SUPPORT

$4,100,000

MEDWISH INTERNATIONAL

Org PageRecipient Profile

Cleveland, OH

PURPOSE: HEALTHCARE RESEARCH & EDUCATION

$3,276,351

AMERICAN CANCER SOCIETY

Org PageRecipient Profile

Kennesaw, GA

PURPOSE: HEALTHCARE RESEARCH & EDUCATION

$537,500

FAIRFAX RENAISSANCE DEVELOPMENT CORPORATION

Org PageRecipient Profile

Cleveland, OH

PURPOSE: COMMUNITY SUPPORT

$526,603
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Cleveland Clinic Foundation has recieved totaling $330,000.

Awarding OrganizationAmount
Gray Foundation

Cohoes, NY

PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION.

$320,000
Mackenzies Mission

Great Falls, VA

PURPOSE: Support of amyloidosis research.

$10,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$537,603,872
Earnings$72,345,109
Net Contributions$22,489,147
Other Expense$9,830,169
Ending Balance$622,607,959

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