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← CLEVELAND MUSEUM OF ART 2 GENERAL ENDOWMENT FUND TRUST

Form 990 for tax year 2023

Filed by CLEVELAND MUSEUM OF ART 2 GENERAL ENDOWMENT FUND TRUST.

Totals

Total revenue
$114,187
Total expenses
$223,994
Contributions and grants received
$0
Grants paid
$219,163
Program service revenue
$0
Investment income
$114,187
Other revenue
$0
Total assets, end of year
$3,170,620
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$3,170,620
Program services expenses (Part IX)
$219,163
Management and general expenses
$4,831
Fundraising expenses
$0
Program service expenses (Part III)
$219,163

Program services were 97.8% 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.

  • 3 · Investment income

    total $62,849 · excluded $62,849

  • 7a · Gross sales of assets other than inventory

    securities $174,054

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

    securities $122,716

  • 7c · Gain or loss

    securities $51,338

  • 7d · Net gain or loss

    total $51,338 · excluded $51,338

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $219,163 · program services $219,163

  • 5 · Compensation of officers, directors and key employees

    total $3,502 · management and general $3,502

  • 11c · Fees: accounting

    total $1,050 · management and general $1,050

  • 24e · All other expenses

    total $279 · management and general $279

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $42,201 · end of year $43,810

  • 12 · Investments: other securities

    beginning of year $3,238,228 · end of year $3,126,810

  • 29 · Capital stock, trust principal or current funds

    beginning of year $3,280,429 · end of year $3,170,620

Mission and programs · 2023

Mission

GRANTS ARE MADE ACCORDING TO THE TRUST AGREEMENT DATEDOCTOBER 19, 1923 TO THE CLEVELAND MUSEUM OF ART. THE TRUSTEESARE DIRECTED TO PAY THE NET INCOME OF THE TRUST QUARTERLY TO AIDTHE CLEVELAND MUSEUM OF ART IN DEFRAYING ITS OPERATING EXPENSEAND FOR THE PURCHASE OF WORKS OF ART FOR THE MUSEUM. UNDER THEOHIO INSTITUTIONAL TRUST FUNDS ACT OF 1999, THE BENEFICIARY HAS CHOSENTO RECEIVE THE MAXIMUM OF INCOME BASED ON THE GREATER OF 5% OF AFVOR TRADITIONAL INCOME. KEYBANK MAINTAINS A RESPONSIVENESS TO THE NEEDS AND ACTIVITIES OF THE BENEFICIARY ORGANIZATION IN THE ATTAINMENTOF ITS MISSION.

  • GRANTS PAID TO CLEVELAND MUSUEM OF ART TO ASSIST WITH ITS OPERATING EXPENSES AND PURCHASE OF ART.

    Expenses $219,163 · Grants $219,163

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Keybank Na

    TRUSTEE

    Total calculated
    $3,502
    From this org
    $3,502
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
25 April 2024
IRS schema version
2023v5.0
Source object
202411269349300706

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