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Nonprofiteer
← FRANK HADLEY AND CORNELIA ROOT GINN FOUNDATION

Form 990 for tax year 2023

Filed by FRANK HADLEY AND CORNELIA ROOT GINN FOUNDATION.

Totals

Total revenue
$14,172
Total expenses
$174,424
Contributions and grants received
$17,081
Grants paid
$141,000
Program service revenue
$0
Investment income
-$2,909
Other revenue
$0
Total assets, end of year
$2,896,378
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$2,896,378
Program services expenses (Part IX)
$141,000
Management and general expenses
$33,424
Fundraising expenses
$0
Program service expenses (Part III)
$141,000

Program services were 80.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $17,081

  • 3 · Investment income

    total $74,078 · excluded $74,078

  • 7a · Gross sales of assets other than inventory

    securities $891,826

  • 7b · Less cost or other basis and sales expenses

    securities $968,813

  • 7c · Gain or loss

    securities -$76,987

  • 7d · Net gain or loss

    total -$76,987 · excluded -$76,987

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $141,000 · program services $141,000

  • 11f · Fees: investment management

    total $10,309 · management and general $10,309

  • 24a · Other expenses: SEE SCHEDULE O

    total $22,803 · management and general $22,803

  • 24e · All other expenses

    total $312 · management and general $312

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    end of year $7,950

  • 11 · Investments: publicly traded securities

    beginning of year $2,636,557 · end of year $2,888,428

  • 27 · Net assets without donor restrictions

    beginning of year $2,636,557 · end of year $2,896,378

Mission and programs · 2023

Mission

THE ORGANIZATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT, OF AND TO CARRY OUT THE CHARITABLE AND EDUCATIONAL FUNCTIONS OF THE CLEVELAND FOUNDATION.

Activities or mission (Part I)

THE ORGANIZATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF, AND TO CARRY OUT THE CHARITABLE AND EDUCATIONAL FUNCTIONS OF THE CLEVELAND FOUNDATION.

  • GRANTMAKING FOR OR ON BEHALF OF THE CLEVELAND FOUNDATION TO SUPPORT THE CLEVELAND FOUNDATION OR TO CARRY OUT THE CHARITABLE AND EDUCATIONAL FUNCTIONS OF THE CLEVELAND FOUNDATION.

    Expenses $141,000 · Grants $141,000

As filed on the 2023 return.

Listed in Part VII

  • Mary Ginn

    PRESIDENT (EFF 1/1/23)

    Total calculated
    $0
    Hours/week
    1

  • Walter Ginn

    1ST VICE PRES. (EFF 1/1/23)

    Total calculated
    $0
    Hours/week
    0.5

  • Katherine Barr Hollingsworth

    TRUSTEE (UNTIL 3/31/23)

    Total calculated
    $0
    Hours/week
    0.5

  • Kate Fox Nagel

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Kurt Karakul

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Shenise Johnson Thomas

    TRUSTEE (EFF 6/6/23)

    Total calculated
    $0
    Hours/week
    0.5

  • Brenda Cummins

    SECRETARY

    Total calculated
    $141,531
    From this org
    $0
    From related orgs
    $107,588
    Other
    $33,943
    Hours/week
    0.5

  • Anthony Gattuso

    TREASURER

    Total calculated
    $168,975
    From this org
    $0
    From related orgs
    $126,866
    Other
    $42,109
    Hours/week
    0.5

    Schedule J breakdown matched by us

    Base
    $0 + $126,605 related
    Bonus
    $0
    Other
    $0 + $261 related
    Deferred
    $0 + $12,043 related
    Nontaxable benefits
    $0 + $30,066 related
    Filer's total
    $0 + $168,975 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202443209349327774

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