The Cleveland Foundation

Analysis

The Cleveland Foundation is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in February 1945, 81 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Cleveland Foundation reported income of $370.4m and spending of $185.8m, leaving 50% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $120.0m to $370.4m (+209%), an average of +32% a year. The sharpest change came in the year to December 2023, when income rose by 58%. Over the whole period it spent 80% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, The Cleveland Foundation sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within OH. Charities of a similar size with the same main cause include Dechomai Foundation Inc ($363.5m), Apella Health Management Inc ($405.0m) and Co-Impact Philanthropic Funds Inc ($360.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $3.4m (1.8% of expenses). Other salaries and wages came to $6.6m. At year end it held assets of $2.94bn against liabilities of $361.9m, net assets of $2.58bn. It reported 107 employees.