Cleveland Institute of Art

Analysis

Cleveland Institute of Art is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in June 1920, 106 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Cleveland Institute of Art reported income of $43.4m and spending of $37.2m, spending 86% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $34.9m to $43.4m (+24%), an average of +5.6% a year. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cleveland Institute of Art sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within OH. Charities of a similar size with the same main cause include Woodfords Family Service ($43.3m), Spalding University ($43.4m) and Oglala Lakota College ($43.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 30% and program service revenue 66% of the total. Compensation of current officers, directors and key employees was $800k (2.1% of expenses). Other salaries and wages came to $9.6m. At year end it held assets of $121.7m against liabilities of $29.5m, net assets of $92.2m. It reported 502 employees.