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← CLEVELAND FOUNDATION MIDTOWN COLLABORATION CENTER PROJECT

Form 990 for tax year 2023

Filed by CLEVELAND FOUNDATION MIDTOWN COLLABORATION CENTER PROJECT.

Totals

Total revenue
$3,235,135
Total expenses
$226,490
Contributions and grants received
$3,073,311
Grants paid
$0
Program services expenses (Part IX)
$0
Management and general expenses
$226,490
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • RONALD RICHARD

    DIRECTOR & PRESIDENT(UNTIL 7/31/23)

    Total calculated
    $583,693
    From this org
    $0
    From related orgs
    $524,315
    Other
    $59,378
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $428,497 related
    Bonus
    $0
    Other
    $0 + $95,818 related
    Deferred
    $0 + $39,379 related
    Nontaxable benefits
    $0 + $19,999 related
    Filer's total
    $0 + $583,693 related

  • LILLIAN KURI

    DIRECTOR & PRESIDENT (EFF 8/1/23)

    Total calculated
    $483,415
    From this org
    $0
    From related orgs
    $433,391
    Other
    $50,024
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $412,947 related
    Bonus
    $0
    Other
    $0 + $20,444 related
    Deferred
    $0 + $39,379 related
    Nontaxable benefits
    $0 + $10,645 related
    Filer's total
    $0 + $483,415 related

  • RANDELL MCSHEPARD

    DIRECTOR & VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • ROSANNE S POTTER

    DIRECTOR & TREASURER

    Total calculated
    $420,656
    From this org
    $0
    From related orgs
    $358,115
    Other
    $62,541
    Hours/week
    0.5

    Schedule J breakdown matched by us

    Base
    $0 + $351,606 related
    Bonus
    $0
    Other
    $0 + $6,509 related
    Deferred
    $0 + $39,379 related
    Nontaxable benefits
    $0 + $23,162 related
    Filer's total
    $0 + $420,656 related

  • INDIA PIERCE LEE

    DIRECTOR(EFF 3/7/23)

    Total calculated
    $72,464
    From this org
    $0
    From related orgs
    $61,472
    Other
    $10,992
    Hours/week
    0.5

  • KWAME BOTCHWAY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • ASHLEY SHAW

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • WILLIAM WILLIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • COURTNEY LEHMANN

    SECRETARY

    Total calculated
    $81,887
    From this org
    $0
    From related orgs
    $65,986
    Other
    $15,901
    Hours/week
    0.5

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 — 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

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.

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

No itemized grants to organizations on this return.

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
202443209349325989

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