2024-11-15T18:12:20-06:00 2023-12-31 990 2023-01-01 922553895 CLEVELAND FOUNDATION MIDTOWN COLLABORATI ON CENTER PROJECT CLEV 2168613810 6601 EUCLID AVENUE CLEVELAND OH 44103 ROSANNE S POTTER DIRECTOR/TREASURER 2168613810 2024-11-12 0 2023 2024-10-15 13:58:12Z LILLIAN KRUI 6601 EUCLID AVENUE CLEVELAND OH 44103 3235135 0 X N/A X 2023 OH THE ORGANIZATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR, AND TO ADVANCE THE CHARITABLE, SCIENTIFIC, LITERARY, ARTISTIC AND EDUCATIONAL PURPOSES OF THE CLEVELAND FOUNDATION. 7 7 0 0 0 0 0 3073311 0 0 0 161824 0 0 0 3235135 0 0 0 0 0 0 0 0 0 0 226490 0 226490 0 3008645 0 31136824 0 28128179 0 3008645 THE ORGANIZATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR, AND TO ADVANCE THE CHARITABLE, SCIENTIFIC, LITERARY, ARTISTIC AND EDUCATIONAL PURPOSES OF THE CLEVELAND FOUNDATION. 0 0 0 0 0 THE CORPORATION RECEIVED A COMBINATION OF LAND AND CASH FROM THE CLEVELAND FOUNDATION FOR THE SOLE PURPOSE OF CONSTRUCTING ON THE LAND, OWNING, AND LEASING BACK TO THE CLEVELAND FOUNDATION A COLLABORATION AND INNOVATION CENTER (COLLABORATION CENTER) IN THE MIDTOWN NEIGHBORHOOD OF THE CITY OF CLEVELAND. THIS ACTIVITY ADVANCES THE CLEVELAND FOUNDATION'S OBJECTIVE TO TRANSFORM AND REVITALIZE THE MIDTOWN AND ADJACENT CITY OF CLEVELAND NEIGHBORHOODS. 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 1 0 0 0 0 1 0 1 0 0 0 0 1 1 1 1 1 0 0 0 OH X X ROSANNE S POTTER 2168613810 6601 EUCLID AVENUE CLEVELAND OH 44103 X RONALD RICHARD DIRECTOR & PRESIDENT(UNTIL 7/31/23) 1.00 X X 0 524315 59378 LILLIAN KURI DIRECTOR & PRESIDENT (EFF 8/1/23) 1.00 X X 0 433391 50024 RANDELL MCSHEPARD DIRECTOR & VICE PRESIDENT 0.50 X X 0 0 0 ROSANNE S POTTER DIRECTOR & TREASURER 0.50 X X 0 358115 62541 INDIA PIERCE LEE DIRECTOR(EFF 3/7/23) 0.50 X 0 61472 10992 KWAME BOTCHWAY DIRECTOR 0.50 X 0 0 0 ASHLEY SHAW DIRECTOR 0.50 X 0 0 0 WILLIAM WILLIS DIRECTOR 0.50 X 0 0 0 COURTNEY LEHMANN SECRETARY 0.50 X 0 65986 15901 0 1443279 198836 0 0 1 0 0 3073311 1290000 3073311 161824 161824 3235135 0 0 161824 214353 214353 12137 12137 226490 0 226490 0 22535955 8600869 0 0 8600869 0 31136824 394 5362000 0 22765785 0 28128179 X 3008645 0 3008645 0 31136824 3008645 0 X X 0 1 X 1 0 X X 1 CLEVELAND FOUNDATION 340714588 8 1 0 8600869 1 0 8600869 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 PART I, LINE 12G, (VI) THE ORGANIZATION SUPPORTS THE CLEVELAND FOUNDATION BY HOLDING LAND AND BUILDING ON THAT LAND A COLLABORATION CENTER THAT WILL BE USED BY THE CLEVELAND FOUNDATION AS PART OF ITS CHARITABLE MISSION TO REVITALIZE AND TRANSFORM THE MIDTOWN AND ADJACENT NEIGHBORHOODS OF THE CITY OF CLEVELAND. AT DECEMBER 31, 2023, THE VALUE OF THE LAND AND CONSTRUCTION IN PROGRESS HELD FOR THE BENEFIT OF THE CLEVELAND FOUNDATION WAS $8,600,869. PART IV, SECTION A, LINE 11: THE ORGANIZATION ACCEPTED A GIFT OF LAND AND CONTRIBUTION OF CASH FROM THE CLEVELAND FOUNDATION, ITS SUPPORTED ORGANIZATION. THE CLEVELAND FOUNDATION APPOINTS A MAJORITY OF THE ORGANIZATION'S DIRECTORS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1290000 1290000 7310869 7310869 8600869 LOANS PAYABLE TO THE CLEVELAND FOUNDATION (SUPPORTED ORGANIZATION) 22765785 22765785 0 1 0 0 0 0 0 0 0 RONALD RICHARD DIRECTOR & PRESIDENT(UNTIL 7/31/23) 0 428497 0 0 0 95818 0 39379 0 19999 0 583693 0 0 LILLIAN KURI DIRECTOR & PRESIDENT (EFF 8/1/23) 0 412947 0 0 0 20444 0 39379 0 10645 0 483415 0 0 ROSANNE S POTTER DIRECTOR & TREASURER 0 351606 0 0 0 6509 0 39379 0 23162 0 420656 0 0 PART I, LINE 4B THE CLEVELAND FOUNDATION, THE TCFMCCP'S SUPPORTED ORGANIZATION, PROVIDES THE SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN ("SERP") FOR THE BENEFIT OF CERTAIN MANAGEMENT AND SENIOR LEVEL EMPLOYEES SPECIFIED BY THE PLAN OR OTHERWISE DETERMINED BY THE FOUNDATION AND HAS EXTENDED IT TO ALL OFFICERS WHO ARE AT THE SENIOR VICE PRESIDENT LEVEL AND ABOVE. THE PURPOSE OF THE SERP IS TO PROVIDE BENEFITS TO SERP PARTICIPANTS ON THE SAME BASIS AS ARE PROVIDED TO ALL EMPLOYEES UNDER THE FOUNDATION'S 403(B) PLAN IN THE SITUATIONS WHERE AMOUNTS ALLOCATED UNDER THE 403(B) PLAN ARE LIMITED BY FEDERAL TAX LAW (RESULTING IN A "PREVENTED ALLOCATION"). UNDER THE SERP, EACH YEAR AN AMOUNT EQUAL TO 105.5% OF THE SERP PARTICIPANT'S PREVENTED ALLOCATION IS CREDITED TO HIS OR HER SERP ACCOUNT. BECAUSE THIS AMOUNT IS IMMEDIATELY VESTED AND TAXABLE, A PARTIAL DISTRIBUTION IS MADE TO THE PARTICIPANT DETERMINED WITH REFERENCE TO CURRENT YEAR TAXES. FOLLOWING RETIREMENT, DEATH, OR OTHER TERMINATION OF EMPLOYMENT, THE UNDISTRIBUTED BALANCE OF THE SERP ACCOUNT (WITH EARNINGS CREDITED ANNUALLY AT A RATE DETERMINED WITH REFERENCE TO THE 403(B) PLAN IS DISTRIBUTED TO THE PARTICIPANT IN TWO ANNUAL INSTALLMENTS. NO FUNDS ARE SET ASIDE FOR PAYMENT OF SERP BENEFITS; THEY ARE COMPLETELY UNFUNDED AND EACH PARTICIPANT IS AN UNSECURED CREDITOR OF THE ORGANIZATION. IN 2023, MS. KURI ($13,547) AND MS POTTER ($677) RECEIVED BENEFITS UNDER THE SERP. THE FOUNDATION ALSO ALLOWS FOR PARTICIPANT CONTRIBUTIONS UNDER A 457(B) PLAN. UNDER THE 457(B) PLAN, ELIGIBLE PARTICIPANTS MAY ELECT TO DEFER FUNDS UP TO THE ANNUAL LIMIT IMPOSED BY THE FEDERAL TAX LAW. X 1 1290000 PURCHASE PRICE -LAND 0 0 0 PART I LINES 20 & 21, PART X LINES 16 & 26 THE CLEVELAND FOUNDATION MIDTOWN COLLABORATION CENTER PROJECT (TCFMCCP) HAS BORROWED FUNDS FROM THE CLEVELAND FOUNDATION AND THIRD PARTIES FOR THE CONSTRUCTION OF THE COLLABORATION CENTER THAT UTIMATELY WILL BE LEASED BACK TO THE CELVELAND FOUNDATION FOR ITS CHARITABLE PURPOSES. THE ASSETS AND LIABILITIES REFLECTED IN PART I, LINES 20 & 21 AND PART X, LINE 16 & 26 REPRESENT THE LOANS INCURRED FOR THE CONSTRUCTION AND THE VALUE OF THE CONSTRUCTION IN PROGRESS. FORM 990, PART VI, SECTION A, LINE 2 TCFMCCP IS A SUPPORTING ORGANIZATION OF THE CLEVELAND FOUNDATION. CONSEQUENTLY, SOME OF ITS DIRECTORS AND OFFICERS ARE EMPLOYEES OR OFFICERS OF THE CLEVELAND FOUNDATION, COMPENSATED BY THE CLEVELAND FOUNDATION. RONALD RICHARD, LILLIAN KURI AND ROSANNE POTTER ARE OFFICERS AND DIRECTORS OF TCFMCCP AND ALSO OFFICERS OF THE CLEVELAND FOUNDATION. THEY HAVE A BUSINESS RELATIONSHIP WITH COURTNEY LEHMANN, AN OFFICER OF TCFMCCP BECAUSE MS. LEHMANN IS AN EMPLOYEE OF THE CLEVELAND FOUNDATION. FORM 990, PART VI, SECTION A, LINE 7A THE CLEVELAND FOUNDATION, THE ORGANIZATION'S SUPPORTED ORGANIZATION, HAS THE POWER TO APPOINT THE MAJORITY OF THE ORGANIZATION'S DIRECTORS. FORM 990, PART VI, SECTION A, LINE 8B THE TCFMCCP HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B STAFF OF THE CLEVELAND FOUNDATION PREPARES THE FORM 990. THE FORM 990 IS REVIEWED BY AN OFFICER OF THE CLEVELAND FOUNDATION AND ONE OR MORE OFFICERS AND DIRECTORS OF THE TCFMCCP. FORM 990, PART VI, SECTION B, LINE 12C LINE 12A, 12B, 12C, 13, AND 14: THE TCFMCCP IS A SUPPORTING ORGANIZATION OF THE CLEVELAND FOUNDATION. ACTIVITIES OF THE CLEVELAND FOUNDATION'S SUPPORTING ORGANIZATIONS ARE SUBJECT TO POLICIES FOR SUPPORTING ORGANIZATIONS THE CLEVELAND FOUNDATION HAS IN EFFECT FROM TIME TO TIME TO ENSURE ITS SUPPORTING ORGANIZATIONS OPERATE IN A MANNER CONSISTENT WITH GOVERNING TAX EXEMPTION PRINCIPLES. TCFMCCP IS REQUIRED TO FOLLOW EACH OF THE DOCUMENT RETENTION AND WHISTLEBLOWER POLICIES MAINTAINED BY THE CLEVELAND FOUNDATION. TCFMCCP HAS ADOPTED ITS OWN CONFLICT OF INTEREST POLICY. UNDER ITS CONFLICT OF INTEREST POLICY, DIRECTORS AND OFFICERS OF TCFMCCP WITH A POTENTIAL CONFLICT OF INTEREST MUST (I) DISCLOSE THEIR POTENTIAL CONFLICT OF INTEREST; (II) PRESENT ANY RELEVANT INFORMATION CONCERNING THE MATTER INVOLVING THE CONFLICT, IF REQUESTED; AND (III) RECUSE THEMSELVES FROM THE MEETING FOR THE DISCUSSION AND VOTE ON THE MATTER PRESENTING THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 A AND B: THE TCFMCCP HAS NO EMPLOYEES AND DOES NOT COMPENSATE ITS DIRECTORS AND THEREFORE DOES NOT MAINTAIN A PROCESS FOR DETERMINING COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE TCFMCCP IS A SUPPORTING ORGANIZATION OF THE CLEVELAND FOUNDATION. PER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, THE CLEVELAND FOUNDATION FINANCIAL STATEMENTS ARE PREPARED AND AUDITED ON A CONSOLIDATED BASIS AND INCLUDE THE SUPPORTING ORGANIZATIONS. THE SUPPORTING ORGANIZATIONS ARE RECOGNIZED IN THE FOOTNOTES DISCLOSURE IN THE STATEMENTS. THE CLEVELAND FOUNDATION CONSOLIDATED FINANCIAL STATEMENTS ARE AVAILABLE FOR REVIEW ON THE FOUNDATION'S WEBSITE. THE TCFMCCP'S FORM 990 IS ALSO AVAILABLE UPON REQUEST. FORM 990, PART VII, LINE 1A, COLUMNS (E) & (F) THE TCFMCCP IS A SUPPORTING ORGANIZATION OF THE CLEVELAND FOUNDATION. CONSEQUENTLY, SOME OF ITS OFFICERS ARE EMPLOYEES OF THE CLEVELAND FOUNDATION, COMPENSATED BY THE CLEVELAND FOUNDATION. CLEVELAND FOUNDATION 6601 EUCLID AVENUE CLEVELAND OH 44103 340714588 COMMUNITY GRANTMAKING OH 501(C)(3) LINE 8 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 CLEVELAND FOUNDATION S 1783311 CASH CLEVELAND FOUNDATION S 1290000 PURCHASE PRICE OF LAND