Cleveland Museum Of Art
- Assets
- $1.3b
- Revenue
- $90.0m
- Investments
- $161.9m
- Employees
- 501
- Location
- Cleveland, OH
- Founding
- 01/1959
- Data as of
- 06/2021
- EIN
- 34-0714336
Organization Overview
Cleveland Museum Of Art is located in Cleveland, OH. The organization was established in 1959. According to its NTEE Classification (A51) the organization is classified as: Art Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Cleveland Museum Of Art employed 501 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cleveland Museum Of Art 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 06/2021, Cleveland Museum Of Art generated $90.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $62.4m during the year ending 06/2021. While expenses have increased by 0.1% per year over the past 6 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A COLLECTION OF ARTWORK REPRESENTING ACHIEVEMENT OF INDIVIDUALS AND CIVILIZATIONS, PAST AND PRESENT, FOR THE BENEFIT OF THE PUBLIC.
Describe the Organization's Program Activity:
CURATORIAL, CONSERVATION, REGISTRAR AND LIBRARY (SEE SCHEDULE O).
ART ACQUISITIONS (SEE SCHEDULE O).
EDUCATION & COMMUNITY PROGRAMS (SEE SCHEDULE O).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William M Griswold Dir & President | OfficerTrustee | 40 | $729,987 |
Colleen R Criste Dd & Chief Philanthropy | Officer | 40 | $271,532 |
Heather J Lemonedes Brown Dd & Chief Curator | Officer | 40 | $238,847 |
Edward W Bauer End 122020 Treasurer | Officer | 40 | $184,938 |
Jane Alexander Chief Information Officer | Officer | 40 | $163,614 |
Heidi Strean Dir Exhibitions & Publications | Officer | 40 | $163,529 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gilbane Building Company Construction Mgmt | 6/29/21 | $1,940,154 |
Ritenour Group Construction | 6/29/21 | $1,118,257 |
Ernst Young Llp Accounting | 6/29/21 | $407,612 |
Stern Adverstising Advertising | 6/29/21 | $323,662 |
Hahn Loeser Parks Llp Legal | 6/29/21 | $380,908 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $14,774,420 |
| Government grants | $7,604,697 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,103,083 |
| Noncash contributions included in lines 1a–1f | $2,904,739 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $43,482,200 |
| Total Program Service Revenue | $1,561,312 |
| Investment income | $6,439,984 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $34,438 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $35,463,124 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $252,347 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $90,038,138 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $2,457,816 |
| Compensation of current officers, directors, key employees. | $786,624 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,749,384 |
| Pension plan accruals and contributions | $1,253,176 |
| Other employee benefits | $2,385,138 |
| Payroll taxes | $1,235,054 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $439,066 |
| Fees for services: Accounting | $492,799 |
| Fees for services: Lobbying | $92,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,174,868 |
| Fees for services: Other | $2,073,009 |
| Advertising and promotion | $713,764 |
| Office expenses | $965,377 |
| Information technology | $1,024,762 |
| Royalties | $2,285 |
| Occupancy | $2,239,321 |
| Travel | $211,926 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,223,574 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,277,291 |
| Insurance | $416,421 |
| All other expenses | $1,226,308 |
| Total functional expenses | $62,388,046 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,301,606 |
| Savings and temporary cash investments | $2,854,200 |
| Pledges and grants receivable | $11,465,316 |
| Accounts receivable, net | $459,262 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $797,155 |
| Prepaid expenses and deferred charges | $1,985,399 |
| Net Land, buildings, and equipment | $274,026,677 |
| Investments—publicly traded securities | $448,644,858 |
| Investments—other securities | $161,889,636 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $405,664,220 |
| Total assets | $1,319,088,329 |
| Accounts payable and accrued expenses | $24,074,928 |
| Grants payable | $0 |
| Deferred revenue | $2,469,534 |
| Tax-exempt bond liabilities | $90,000,000 |
| 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 | $116,544,462 |
| Net assets without donor restrictions | $294,623,104 |
| Net assets with donor restrictions | $907,920,763 |
| Capital stock or trust principal, or current funds | $0 |
| 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 | $1,319,088,329 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Cleveland Museum Of Art has recieved totaling $166,798.
| Awarding Organization | Amount |
|---|---|
James And Donna Reid Foundation Cleveland, OH PURPOSE: CMA FUND | $100,000 |
Swagelok Foundation Solon, OH PURPOSE: TO FURTHER THE ORGANIZATION'S TAX EXEMPT PURPOSE | $50,000 |
Sandor Foundation Chagrin Falls, OH PURPOSE: GENERAL FUND | $15,000 |
Dr Ne And Jz Berman Familyfoundation Alamo, CA PURPOSE: CHARITABLE | $1,708 |
Swagelok Foundation Solon, OH PURPOSE: TO FURTHER THE ORGANIZATION'S TAX EXEMPT PURPOSE | $90 |
Alexander And Sarah Cutler Family Foundation Gates Mills, OH PURPOSE: GENERAL TAX-EXEMPT PURPOSES | $0 |
Endowment Analysis
| Beg. Balance | $772,965,000 |
| Earnings | $248,212,000 |
| Net Contributions | $6,560,000 |
| Other Expense | $22,692,000 |
| Ending Balance | $1,005,045,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Philadelphia Museum Of Art Philadelphia, PA | $1,255,022,756 | $116,812,968 |
Cleveland Museum Of Art Cleveland, OH | $1,319,088,329 | $90,038,138 |
The Detroit Institute Of Arts Detroit, MI | $547,056,318 | $58,386,978 |
Indianapolis Museum Of Art Inc Indianapolis, IN | $570,410,766 | $52,226,027 |
Barnes Foundation Philadelphia, PA | $223,515,679 | $21,249,120 |
Toledo Museum Of Art Toledo, OH | $363,312,718 | $18,709,059 |
Cincinnati Museum Association Cincinnati, OH | $281,155,323 | $24,034,593 |
Columbus Museum Of Art Columbus, OH | $186,443,242 | $10,937,046 |
J B Speed Art Museum Louisville, KY | $144,061,757 | $14,473,949 |
John Huntington Art & Polytechnic Tr Cleveland, OH | $134,688,641 | $10,635,199 |
Dayton Art Institute Dayton, OH | $42,942,635 | $5,850,007 |
Grand Rapids Art Museum Grand Rapids, MI | $63,932,796 | $12,119,660 |