David And Inez Myers Foundation
- Assets
- $207.1m
- Revenue
- $10.7m
- Investments
- $138.6m
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 11/1956
- Data as of
- 12/2019
- EIN
- 34-6560945
Organization Overview
David And Inez Myers Foundation is located in Cleveland, OH. The organization was established in 1956. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2019, David And Inez Myers Foundation generated $10.7m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 15.8% each year . All expenses for the organization totaled $6.0m during the year ending 12/2019. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, David And Inez Myers Foundation has awarded 65 individual grants totaling $10,093,306. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
FURTHER THE CHARITABLE, EDUC.& RELIGIOUS PURPOSES OF THE JEWISH FEDERATION OF CLEVELAND
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO 501(C)(3) ORGANIZATIONS MADE TO SUPPORT THE CHARITABLE, EDUCATIONAL & RELIGIOUS PURPOSES OF THE JEWISH FEDERATION OF CLEVELAND INCLUDING GRANT PROGRAM DESIGN, OVERSIGHT AND EXECUTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erika Rudin-Luria Trstee/scrtry Elc 4/16/2019 | OfficerTrustee | 0.4 | $0 |
Stephen H Hoffman Trustee/scrtry To 4/16/2019 | OfficerTrustee | 0.4 | $0 |
S Lee Kohrman Trustee/president | OfficerTrustee | 20.4 | $0 |
Leslie D Dunn Trustee/vice President | OfficerTrustee | 0.4 | $0 |
Matthew A Kaliff Asst Secretary | Officer | 0.2 | $0 |
Barry Reis Treasurer | Officer | 0.2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Monticello Associates Inc Investment Advisors | 12/30/19 | $150,000 |
Wellington Management Company Llp Investment Advisors | 12/30/19 | $134,945 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $2,644,249 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,024,451 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,668,700 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,191,750 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $289,500 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,209 |
| Fees for services: Accounting | $5,985 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $389,041 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $39,000 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $36,452 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,964,526 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $11,145,248 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $57,311,945 |
| Investments—other securities | $138,597,352 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $712 |
| Total assets | $207,055,258 |
| Accounts payable and accrued expenses | $30,562 |
| Grants payable | $10,583,448 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $10,614,010 |
| Net assets without donor restrictions | $196,441,248 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $207,055,258 |
Grants Awarded
Over the last fiscal year, David And Inez Myers Foundation has awarded $4,954,000 in support to 34 organizations.
| Grant Recipient | Amount |
|---|---|
Cleveland, OH PURPOSE: BIRTHRIGHT ISRAEL; CEMETERY PRESERVATION; COMMUNITY SECURITY INITIATIVE; FOUNDATION DEPARTMENT; JHUB; MOISHE HOUSE; ONWARD ISRAEL; PHILANTHROPIC FUND SUPPORT; WEXNER HERITAGE PROGRAM: CLEVELAND COHORT; 2020 CAMPAIGN; FUND FOR THE JEWISH FUTURE | $2,301,000 |
Cleveland Hts, OH PURPOSE: 2019 MYERS JEWISH CAMPING SCHOLARSHIPS; 2020 MYERS CAMPING SCHOLARSHIPS; CAMP LEADERSHIP SCHOLARSHIPS | $671,000 |
Pepper Pike, OH PURPOSE: CAPITAL CAMPAIGN | $500,000 |
New York, NY PURPOSE: RECOMMENDATIONS: COUNSELING CENTER FOR WOMEN, ISRAEL: GENERAL SUPPORT, KVUTZAT REUT, HADASSAH ACADEMIC COLLEGE, SCHOLARSHIP SUPPORT; YEZREEL VALLEY COLLEGE, OPPORTUNITY FOR SUCCESS; HADIN ISRAEL LAW CENTER, TEL AVIV | $221,000 |
Kent, OH PURPOSE: GENERAL SUPPORT; HILLEL IN THE FSU | $160,000 |
Washington, DC PURPOSE: 2019 INTERNATIONAL CONVENTION SCHOLARSHIPS | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The James Family Charitable Trust Jenkintown, PA | $101,614,489 | -$872,164 |
Gift Clearing Trust Indianapolis, IN | $904,727 | $14,534,102 |
Foundation For The Uptown Reinvestment Corporation Flint, MI | $618,786 | $10,047,522 |
L Brands Foundation Columbus, OH | $4,029,637 | $10,176,274 |
Siemer Institute Columbus, OH | $11,132,336 | $9,995,271 |
Dayton Foundation Plus Inc Dayton, OH | $68,094,537 | $8,799,441 |
Block 3 Community Urban Redevelopment Corporation Cincinnati, OH | $44,760,459 | $7,877,869 |
David And Inez Myers Foundation Cleveland, OH | $207,055,258 | $10,668,700 |
Jcgf Charitable Tr Cincinnati, OH | $653,667 | $4,947,224 |
Katzman Family Support Foundation Bloomfield Hills, MI | $1,146,260 | -$430,022 |
Upic Solutions Inc Fort Mitchell, KY | $1,788,430 | $5,088,818 |
Jewish Fund Inc Bloomfield Hills, MI | $55,211,372 | $2,544,716 |