2025-05-08T10:01:26-04:00 2024-12-31 920460586 PWC US TAX LLP 4300 E CAMELBACK ROAD STE 475 PHOENIX AZ 85018 990 2024-01-01 346506884 JOHN L SEVERANCE SEVE 2168134556 4900 TIEDEMAN ROAD OH-01-49-0381 BROOKLYN OH 44144 KEYBANK BY JOSEPH VELKOS VICE PRESIDENT 2168134556 2025-05-01 true true JEFFREY E KUHLIN P00353001 4123556000 2025-05-01 X 2024 2025-03-06 01:10:19Z KEYBANK NA TRUSTEE 15033883 false X N/A X 1945 OH GRANTS ARE MADE ACCORDING TO THE LAST WILL AND TESTAMENT OFJOHN L SEVERENCE DATED JANUARY 31, 1935 IN CONJUNCTION WITH THE TRUST AGREEMENT DATED DECEMBER 23, 1915 AND THE OPERATING AGREEMENT DATED APRIL 30, 2009. IN COMPLIANCE WITH THE TRUST DOCUMENT, KEYBANK AS TRUSTEE, MAKES GRANTS TO THE CLEVELAND MUSEUM OF ART TO BE USED TO PURCHASE WORKS OF ART. UNDER THE OHIO INSTITUTIONAL TRUST FUNDS ACT OF 1999, THE BENEFICIARY HAS CHOSEN TO RECEIVE THE MAXIMUM OF INCOME BASED ON THE GREATER OF 5% OF AFV OR TRADITIONAL INCOME.KEYBANK MAINTAINS A RESPONSIVENESS TO THE NEEDS AND ACTIVITIES OF THEBENEFICIARIES ORGANIZATION IN THE ATTAINMENT OF ITS MISSION. PLEASE NOTE THE CHARITY HAS A RIGHT TO DIRECT OR APPROVE INVESTMENTS AND THETRUSTEE HAS THE AUTHORITY TO AMEND THE DOCUMENT TO INSURE THECONTINUATION TO QUALIFY AS A 509(A)(3). 1 0 0 0 0 0 0 2017091 13030715 5976 2017091 13036691 3845245 3729976 0 347317 386273 0 0 20375 51602 4212937 4167851 -2195846 8868840 55391624 64091830 0 0 55391624 64091830 X GRANTS ARE MADE ACCORDING TO THE LAST WILL AND TESTAMENT OFJOHN L SEVERENCE DATED JANUARY 31, 1935 IN CONJUNCTION WITH THE TRUST AGREEMENT DATED DECEMBER 23, 1915 AND THE OPERATING AGREEMENT DATED APRIL 30, 2009. IN COMPLIANCE WITH THE TRUST DOCUMENT, KEYBANK AS TRUSTEE, MAKES GRANTS TO THE CLEVELAND MUSEUM OF ART TO BE USED TO PURCHASE WORKS OF ART. UNDER THE OHIO INSTITUTIONAL TRUST FUNDS ACT OF 1999, THE BENEFICIARY HAS CHOSEN TO RECEIVE THE MAXIMUM OF INCOME BASED ON THE GREATER OF 5% OF AFV OR TRADITIONAL INCOME.KEYBANK MAINTAINS A RESPONSIVENESS TO THE NEEDS AND ACTIVITIES OF THEBENEFICIARIES ORGANIZATION IN THE ATTAINMENT OF ITS MISSION. PLEASE NOTE THE CHARITY HAS A RIGHT TO DIRECT OR APPROVE INVESTMENTS AND THETRUSTEE HAS THE AUTHORITY TO AMEND THE DOCUMENT TO INSURE THECONTINUATION TO QUALIFY AS A 509(A)(3). false false 3729976 3729976 GRANTS MADE TO THE CLEVELAND MUSEUM OF ART TO BE USED IN THE PURCHASE OF WORKS OF ART. 3729976 true false false false false false false false false false false true false false false false false false false false false false false false false false false true false false false false false false false false false false false false false false false true false false false true 0 0 0 false false false false false false false false false false false false false X 1 0 false false false false false false true true true false false true false false false false false false OH X KeyBank NA 2168134556 4900 Tiedeman Rd OH-01-49-0381 Brooklyn OH 441442302 Russ Klimczuk CMA Asst Treasurer of Finance 1.0 X 0 0 0 KEYBANK N A TRUSTEE 1.0 X 386273 0 0 386273 0 0 1 false false false 1101241 1101241 13926666 1997192 11929474 11929474 11929474 5976 5976 5976 13036691 13036691 3729976 3729976 386273 386273 1050 1050 50552 50552 4167851 3729976 437875 0 679105 -173968 54712519 64265798 55391624 64091830 0 0 X 55391624 64091830 55391624 64091830 55391624 64091830 X 8868840 -168634 X false false false X X 1 CLEVELAND MUSEUM OF ART 340714336 7 true 0 3729976 1 0 3729976 true false false false false false false false false false false true false false false false true false true 0 0 1097424 1101241 1097424 1101241 0 367692 437875 0 729732 663366 74610908 84893389 0 0 74610908 84893389 0 0 74610908 84893389 1119164 1273401 73491744 83619988 2572211 2926700 0 2572211 2926700 729732 620272 2572211 2572211 0 2572211 3729976 0 0 0 0 0 3729976 3729976 2572211 1.0 2572211 0 0 0 2589779 4180457 3845245 10615481 0 2572211 0 8043270 3729976 0 3729976 0 0 11773246 0 17568 4180457 3845245 3729976 PART IV, Section D, Line 2 The Cleveland Museum of Art and KeyBank maintain a close and continuous relationship with respect to the administration and investments of the trusts.The parties shall continue to meet at least twice a year, in order to review the administration and investments of the trusts. PART IV, Section D, Line 3 The Cleveland Museum of Art shall have the right at any time to offer its insight or suggestions to KeyBank with respect to the administration or investments of the trust. The Cleveland Museum of Art shall have the authority to approve all investment policy statements with respect to the trusts, as well as any future changes to those investment policy statements. PART V, Section D, Line 8 KeyBank will continue to provide to the Cleveland Museum of Art periodic statements at least quarterly, reflecting the book value and market value of all trust investments, and all receipts and disbursements from the trusts. KeyBank will continue to provide to the Cleveland Museum of Art detailed reports reflecting the investment performance of the trusts as compared to relevant PART V, Section D, Line 8Continued benchmarks. The Cleveland Museum of Art agrees to annually provide to KeyBank copies of its current investment policy. As the sole beneficiary of the trust, the Cleveland Museum of Art has always had complete control over the disposition of income that has been distributed from the trust to the Cleveland Museum of Art. PART V, Section D, Line 8 Continued The parties acknowledge that William Hartmann serves on the Board of CMA, and is also a senior executive at KeyBank. This further demonstrates the close relationship between the parties. CLEVELAND MUSEUM OF ART CTF 64265798 C KT SHORT TERM DEPOSIT FUND C 64265798 true THE CLEVELAND MUSEUM OF ART 11150 EAST BLVD CLEVELAND OH 44106 340714336 107(b)(1)(A)(vi) 3729976 USED FOR THE PURCHASE OF WORKS OF ART. EXPLANATION FOR FORM 990, SCHEDULE I, PART 1, LINE 2 GRANTS ARE MADE TO 501(C)(3) ORGANIZATIONS THAT ARE NAMED IN THE TRUST DOCUMENT. OUR ADMINISTRATIVE REPRESENTATIVES ARE IN PERIODIC CONTACT WITH REPRESENTATIVES OF THE CHARITIES IN ORDER TO BE IN COMPLIANCE WITH THE TRUST PROVISIONS. PART VI, LINE 12A NON CONFLICT OF INTEREST POLICY EXISTS FOR THE TRUST. KEYBANK N A HAS A CORPORATE CONFLICT OF INTEREST POLICY. PART VI, LINE 14 THE TRUST HAS NO WRITTEN DOCUMENT RETENTION OR DESTRUCTION POLICY. KEYBANK N A HAS A CORPORATE DOCUMENT RETENTION AND DESTRUCTION POLICY. PART VI, LINE 15 A AND B KEYBANK IS SOLE TRUSTEE, IS COMPENSATED AS SUCH, AND MAKES ALL DECISIONS WITH RESPECT TO THE OPERATION AND ADMINISTRATION OF THE TRUST. EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 1a KEYBANK IS SOLE TRUSTEE. EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 7b CMA has the right to approve the investment policy statements with respect to the trust. EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8a Keybank's administration documents all meetings and written actions taken during the year. EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8b Keybank's administration documents all meetings and written actions taken during the year. FORM 990, PAGE 6, PART VI, LINE 11-DESCRIPTION OF PROCESS FOR REVIEW ALL RETURNS ARE PREPARED AND THOROUGHLY REVIEWED BY OUR TAX VENDOR AND/OR INTERNAL PROFESSIONAL TAX DEPARTMENT. FORM 990, PAGE 6, PART VI, LINE 19 DOCUMENTS ARE AVAIALBE UPON REQUEST BY PHONE AND DELIVEREDWITHIN 2 WEEKS OF THE REQUEST. EXPLANATION FOR FORM 990, PART XI, LINE 9 CY PENDING SALES ($168,637), ROUNDING $3 CLEVELAND MUSEUM OF ART 11150 EAST BLVD CLEVELAND OH 44106 340714336 ART OH 501(c)3 170(b)(1)(A)(vi) N/A false false true false false false false false false false false false false false false false false false false false