David And Inez Myers Foundation
- Assets
- $231.4m
- Revenue
- $1.6m
- Investments
- $160.8m
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 11/1956
- Data as of
- 12/2020
- 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. David And Inez Myers 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 12/2020, David And Inez Myers Foundation generated $1.6m 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 (17.9%) each year. All expenses for the organization totaled $8.7m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, David And Inez Myers Foundation has awarded 164 individual grants totaling $28,392,032. 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
FURTHER THE CHARITABLE, EDUC.& RELIGIOUS PURPOSES OF THE JEWISH FEDERATION OF CLEVELAND ("FEDERATION")
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 Trustee/secretary | OfficerTrustee | 0.3 | $0 |
Leslie D Dunn Trustee/president | OfficerTrustee | 10.1 | $0 |
Renee Chelm Trustee/vp | OfficerTrustee | 0.3 | $0 |
Harley L Gross Trustee/vp | OfficerTrustee | 0.3 | $0 |
Barry Reis Treasurer | Officer | 0.2 | $0 |
Kari Blumenthal Asst Treasurer | Officer | 0.2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wellington Management Company Llp Investment Advisors | 12/30/21 | $197,323 |
Monticello Associates Inc Investment Advisors | 12/30/21 | $150,000 |
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 | $1,870,844 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$295,599 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,575,245 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,993,576 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $240,500 |
| 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 | $2,099 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $330,492 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $21,250 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,555 |
| 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 | $8,694,590 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,718,904 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,285,655 |
| 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 | $59,546,599 |
| Investments—other securities | $160,819,164 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $231,370,323 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $10,707,480 |
| 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 | $10,707,480 |
| Net assets without donor restrictions | $220,662,843 |
| 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 | $231,370,323 |
Grants Awarded
Over the last fiscal year, David And Inez Myers Foundation has awarded $10,532,900 in support to 57 organizations.
| Grant Recipient | Amount |
|---|---|
Cleveland, OH PURPOSE: ONWARD ISRAEL: 2022 GREATER CLEVELAND JEWISH POPULATION STUDY: ADDITIONAL STAFFING TO EXPAND JHUB PRIMARILY TO SERVE FAMILIES WITH PRE-TEENS AND TEENS: CEMETERY PRESERVATION: MOISHE HOUSE CLEVELAND: ISRAEL.CLEVELAND.NEXT: COMMUNITY SECURITY INITIATIVE: GENERAL SUPPORT JHUB: OVERSEAS CONNECTIONS COMMITTEE/NORTHWEST RUSSIA JEWISH EDUCATION AND IDENTITY PROGRAMS: SEYMOUR KOPELOWITZ TRIBUTE FUND FOR CLEVELAND SHIN-SHINIM AND ISRAEL ENGAGEMENT: BIRTHRIGHT ISRAEL: 2022 CAMPAIGN | $2,562,000 |
Cleveland, OH PURPOSE: INITIATIVE TO EXPAND BROADBAND INTERNET ACCESS TO CITY OF CLEVELAND | $2,000,000 |
Cleveland Heights, OH PURPOSE: GENERAL SUPPORT: CAPITAL CAMPAIGN | $1,002,000 |
Cleveland, OH PURPOSE: PHASE ONE OF CAPITAL EXPANSION AND CAPACITY BUILDING INITIATIVE; MATCHING GRANT | $1,000,000 |
Pepper Pike, OH PURPOSE: MYERS CAMPING OUTREACH: COLLEGE SCHOLARSHIPS FOR CLEVELAND-AREA JEWISH OVERNIGHT CAMP COUNSELORS | $560,000 |
New York, NY PURPOSE: 2022-24 ACADEMIC YEAR RABBINIC SCHOLARSHIPS: GENERAL SUPPORT | $451,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Siemer Institute Columbus, OH | $21,924,276 | $13,963,015 |
David And Inez Myers Foundation Cleveland, OH | $231,370,323 | $1,575,245 |
Block 3 Community Urban Redevelopment Corporation Cincinnati, OH | $43,753,173 | $7,948,144 |
The Harry Halloran Jr Charitable Trust Philadelphia, PA | $26,412,399 | $8,412,088 |
Sally And John Morley Family Fund Cleveland, OH | $0 | $0 |
Foundation For The Uptown Reinvestment Corporation Flint, MI | $1,872,223 | $6,455,012 |
Upic Solutions Inc Fort Mitchell, KY | $2,371,554 | $6,046,013 |
Dayton Foundation Plus Inc Dayton, OH | $83,505,101 | $9,971,050 |
Jcgf Charitable Tr Cincinnati, OH | $1,841,285 | $5,857,978 |
Arthur Dean Family Foundation Inc Fishers, IN | $75,273,545 | $2,866,490 |
Dbs Foundation Holdings Harrisburg, PA | $361,345 | $2,360,629 |
Barberton Community Foundation Barberton, OH | $94,839,869 | $20,499,069 |