Montefiore Foundation
- Assets
- $11.5m
- Revenue
- $723.0k
- Investments
- $10.0m
- Employees
- 3
- Location
- Beachwood, OH
- Founding
- 01/1995
- Data as of
- 06/2020
- EIN
- 34-1788055
Organization Overview
Montefiore Foundation is located in Beachwood, OH. The organization was established in 1995. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2021, Montefiore Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montefiore 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 06/2020, Montefiore Foundation generated $723.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.7%) each year. All expenses for the organization totaled $1.3m during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (7.3%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Montefiore Foundation has awarded 16 individual grants totaling $12,206,603. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE MONTEFIORE FOUNDATION WAS ESTABLISHED TO PRESERVE ENDOWMENT FUNDS, TO PROVIDE FOR PROPER INVESTMENT OF ENDOWMENT FUNDS, TO ALLOCATE FUNDS TO MONTEFIORE IN ACCORDANCE WITH ITS NEEDS AND DONORS WISHES, TO INCREASE CHARITABLE SUPPORT THROUGH ENDOWMENT AND OTHER FUNDRAISING, AND TO INCREASE COMMUNITY AWARENESS AND SUPPORT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MONTEFIORE FOUNDATION WAS ESTABLISHED TO PRESERVE ENDOWMENT FUNDS, TO PROVIDE FOR PROPER INVESTMENT OF ENDOWMENT FUNDS, TO ALLOCATE FUNDS TO MONTEFIORE IN ACCORDANCE WITH ITS NEEDS AND DONORS WISHES, TO INCREASE CHARITABLE SUPPORT THROUGH ENDOWMENT AND OTHER FUNDRAISING AND TO INCREASE COMMUNITY AWARENESS AND SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debbie Rothschild VP - Leadership & Giving | 20 | $64,130 | |
Majorie Newman Secretary | OfficerTrustee | 1 | $0 |
Richard Rivitz President | OfficerTrustee | 1 | $0 |
Kenneth Cohen Trustee | Trustee | 1 | $0 |
Sharon Epstein Trustee | Trustee | 1 | $0 |
Earl Franklin Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $837,946 |
| Investment income | $82,535 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$197,447 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $723,034 |
| Statement of Expenses | |
|---|---|
| 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. | $35,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $159,118 |
| Pension plan accruals and contributions | $4,390 |
| Other employee benefits | $27,021 |
| Payroll taxes | $16,019 |
| Fees for services: Management | $30,000 |
| Fees for services: Legal | $50 |
| Fees for services: Accounting | $12,563 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,955 |
| Office expenses | $19,191 |
| Information technology | $9,656 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $320 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $169 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $306 |
| Insurance | $3,875 |
| All other expenses | $0 |
| Total functional expenses | $1,313,435 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $129,241 |
| Savings and temporary cash investments | $80,604 |
| Pledges and grants receivable | $131,971 |
| Accounts receivable, net | $23,396 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $26,330 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $9,994,852 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,089,737 |
| Total assets | $11,476,335 |
| Accounts payable and accrued expenses | $46,776 |
| Grants payable | $0 |
| Deferred revenue | $8,625 |
| Tax-exempt bond liabilities | $0 |
| 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 | $525,952 |
| Total liabilities | $581,353 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $10,894,982 |
Grants Awarded
Over the last fiscal year, Montefiore Foundation has awarded $510,988 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Beachwood, OH PURPOSE: Program Support | $502,987 |
Beachwood, OH PURPOSE: Program Support | $8,001 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Montefiore Foundation has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
William M Weiss Foundation Russell Twp, OH PURPOSE: CHARITABLE | $2,500 |
Endowment Analysis
| Beg. Balance | $8,489,906 |
| Earnings | $2,127,151 |
| Net Contributions | $38,764 |
| Other Expense | $406,819 |
| Ending Balance | $10,249,002 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Feeding Pennsylvania Lemoyne, PA | $10,818,120 | $21,841,545 |
University Of Louisville Real Estate Foundation Louisville, KY | $156,388,720 | $20,770,834 |
University Of Pittsburgh And Upmc Medical And Health Sciences Fdn Pittsburgh, PA | $0 | $12,874,250 |
Communtiy Foundation Of The Holland Zeeland Area Holland, MI | $102,848,837 | $16,439,772 |
Pittsburgh Promise Foundation Pittsburgh, PA | $59,585,111 | $15,082,951 |
Pennsylvania Ems Provider Foundation Harrisburg, PA | $55,116 | $0 |
The M S Hershey Foundation Hershey, PA | $64,689,691 | $17,201,612 |
Comerica Charitable Tr Detroit, MI | $75,789,432 | $13,296,605 |
New Albany Community Foundation New Albany, OH | $19,894,351 | $7,914,986 |
Porter County Government Charitable Nonprofit Foundation Inc Valparaiso, IN | $195,277,590 | $7,720,193 |
The Wayne And Joan Webber Foundation Clinton Township, MI | $34,958,708 | $9,275,748 |
United Way Of Greater Stark County Inc Canton, OH | $15,976,372 | $6,358,831 |