Civic Intelligence

Cleveland Rotary Foundation

990 • Fiscal year 2024 • EIN 34-6556119

Jul 01, 2023 to Jun 30, 2024 • Filed on Apr 27, 2025

377 Lear Road 222Avon Lake, OH 44012

(216) 556-8637

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

20th percentile

0.00x

Higher debt load relative to assets than 20% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

24th percentile

0.00x

Higher debt load relative to revenue than 24% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

15th percentile

-19%

Higher net margin than 15% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

47th percentile

$47,500

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 20.8% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

49th percentile

3.9%

Faster asset growth than 49% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

59th percentile

14%

Faster revenue growth than 59% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$3,067,366

Up $114,676 (+3.9%) from 2023

Net Assets

Up

$3,066,436

Up $116,025 (+3.9%) from 2023

Liabilities

Down

$930

Down $1,349 (-59%) from 2023

Revenue

Up

$228,102

Up $27,671 (+14%) from 2023

Expenses

Down

$270,535

Down $28,470 (-9.5%) from 2023

Net Income

Up

-$42,433

Up $56,141 (+57%) from 2023

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2020: $2,749,485Liabilities 2020: $10,000Net Assets 2020: $2,739,4852020Assets 2021: $3,525,838Liabilities 2021: $5,300Net Assets 2021: $3,520,5382021Assets 2022: $2,916,168Liabilities 2022: $0Net Assets 2022: $2,916,1682022Assets 2023: $2,952,690Liabilities 2023: $2,279Net Assets 2023: $2,950,4112023Assets 2024: $3,067,366Liabilities 2024: $930Net Assets 2024: $3,066,4362024

Highlighted filing

2024

Assets$3,067,366
Liabilities$930
Net Assets$3,066,436

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2020: $181,254Expenses 2020: $106,228Net Income 2020: $75,0262020Revenue 2021: $287,741Expenses 2021: $129,392Net Income 2021: $158,3492021Revenue 2022: $838,902Expenses 2022: $121,419Net Income 2022: $717,4832022Revenue 2023: $200,431Expenses 2023: $299,005Net Income 2023: -$98,5742023Revenue 2024: $228,102Expenses 2024: $270,535Net Income 2024: -$42,4332024

Highlighted filing

2024

Revenue$228,102
Expenses$270,535
Net Income-$42,433
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Apr 27, 2025
Return Version
2023v6.0
Gross Receipts
$563,333
Mission and Program Overview

Mission

Providing funding to further charitable and educational activities throughout northeastern ohio

Providing funding to further charitable and educational activities throughout northeast ohio

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,937,838$3,044,669▲ $106,831
Cash and Non-Interest-Bearing Accounts$13,873$22,148▲ $8,275
Accounts Receivable$979$549▼ $430
Total Assets$2,952,690$3,067,366▲ $114,676
Liabilities
Accounts Payable and Accrued Expenses$2,279$930▼ $1,349
Total Liabilities$2,279$930▼ $1,349
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,506,728$2,609,758▲ $103,030
Net Assets Without Donor Restrictions$443,683$456,678▲ $12,995
Total Net Assets Fund Balance$2,950,411$3,066,436▲ $116,025
Total Liabilities and Net Assets / Fund Balance$2,952,690$3,067,366▲ $114,676

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$2,499,767$0▲ $231,297-$2,597,797
2022$2,439,078$2,000▲ $191,821-$2,499,767
2021$3,057,166$1,000▼ $484,245-$2,439,078
2020$2,491,670$1,000▲ $690,993-$3,057,166
2019$2,507,699$1,000▲ $108,824-$2,491,670
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Sharon S LerchSecretaryPT$47,500$47,500

Board Members and Trustees

NameTitle
Ronald FelgenhauerPresident
Christine WiskochilVice President
Beverly Ghent-skrzynskiTrustee
Dennis McandrewTrustee
Howard LichtigTrustee
Jennifer KellyTrustee
Jerry JarzabekInvestment Advisor
Karen MeltonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$65,539
Program Service Revenue
$0
Investment Income
$127,298
Other Revenue
$35,265
All Other Contributions
$65,539
Change in Net Assets
$-42,433
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$234,355
Grants and Similar Amounts Paid$36,180
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$46,500-$46,500
Grants to Domestic Orgs$36,180--$36,180
Fees for Service Investment Mgmnt Fees-$13,926-$13,926
Fees for Services Accounting-$6,630-$6,630
Advertising-$2,500-$2,500
Office Expenses-$2,275-$2,275
Conferences and Meetings-$1,810-$1,810
Other Expenses$416$1,179-$416
Total Functional Expenses$195,715$74,820$0$270,535
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Achievement Centers for ChildrenHighland Hills, OH501(c)(3)Therapy Equipment$5,500
Reach Success IncCleveland, OH501(c)(3)Special Docket Project$5,280
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$41,192
Fundraising Direct Expenses$6,052
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Auction$41,192$41,192$6,052$35,140
Total Events$41,192$41,192$6,052$35,140
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The secretary reviews form 990 prior to filing.

Form 990, Part VI, Section B, Line 12C

The board is required annually to disclose any conflicts of interest.

Form 990, Part VI, Section B, Line 15

The rotary club of cleveland's board reviews and approves the secretary's compensation utilizing comparable data of similar organizations. Note that the secretary is paid from rotary club of cleveland, a related organization. A portion of her salary is included within the management fee charged to the foundation.

Form 990, Part VI, Section C, Line 19

The current form 990, current governing documents and current financial statements are made available upon request.

Filing and Contact Details

Filer

Filer Name
Cleveland Rotary Foundation
EIN
34-6556119
Phone
2165568637
Address
377 LEAR ROAD 222, AVON LAKE, OH 44012

Signing Officer

Name
Sharon Lerch
Title
Secretary
Phone
2165568637
Signed
2025-04-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sharon Lerch
Formed
1978
Legal Domicile
Oh
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Firm
Meaden & Moore Ltd
Address
1375 EAST NINTH STREET SUITE 1800, CLEVELAND, OH 44114-1790
Preparer
Karen B Cooney
Phone
2162413272
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

Endowment funds are maintained to provide funding for future charitable and educational activities throughout northeast ohio.

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IRS990ScheduleA/PublicSupportCY170Pct00.33340
IRS990ScheduleA/PublicSupportPY170Pct00.30630
IRS990ScheduleA/PublicSupportTotal170Amt0276942
IRS990ScheduleA/SubstantialContributorsTotAmt015722
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt065539
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0101755
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt038878
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt026300
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt060192
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0292664
IRS990ScheduleA/TotalSupportAmt0830769
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt02499767
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt00
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt02597797
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0133267
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0231297
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt02439078
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt02000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt02499767
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0133132
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0191821
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt03057166
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt01000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt02439078
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt0134843
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-484245
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt02491670
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt01000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt03057166
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt0126497
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0690993
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt02507699
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt01000
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt02491670
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0125853
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0108824
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct01.00000
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ENDOWMENT FUNDS ARE MAINTAINED TO PROVIDE FUNDING FOR FUTURE CHARITABLE AND EDUCATIONAL ACTIVITIES THROUGHOUT NORTHEAST OHIO.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt06052
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0AUCTION
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt041192
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt041192
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt041192
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt041192
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt035140
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt06052
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt06052
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt05500
IRS990ScheduleI/RecipientTable/CashGrantAmt15280
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0THERAPY EQUIPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1SPECIAL DOCKET PROJECT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0ACHIEVEMENT CENTERS FOR CHILDREN
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1REACH SUCCESS INC
IRS990ScheduleI/RecipientTable/RecipientEIN0340714766
IRS990ScheduleI/RecipientTable/RecipientEIN1823944374
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt04255 NORTHFIELD RD
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt11001 LAKESIDE AVENUE E 1610
IRS990ScheduleI/RecipientTable/USAddress/CityNm0HIGHLAND HILLS
IRS990ScheduleI/RecipientTable/USAddress/CityNm1CLEVELAND
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0OH
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1OH
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd044128
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd144114
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0GRANTS MADE ARE APPROVED BY THE BOARD WHICH HAVE GENERALLY BEEN PROPOSED BY A COMMITTEE. A BOARD COMMITTEE AND/OR THE EXECUTIVE DIRECTOR HAS CONTINUING OVERSIGHT RESPONSIBILITIES WITH RESPECT TO THE GRANT PAID AND IS CHARGED WITH MONITORING GRANT USAGE IN ACCORDANCE WITH ESTABLISHED PROCEDURES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SECRETARY REVIEWS FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD IS REQUIRED ANNUALLY TO DISCLOSE ANY CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ROTARY CLUB OF CLEVELAND'S BOARD REVIEWS AND APPROVES THE SECRETARY'S COMPENSATION UTILIZING COMPARABLE DATA OF SIMILAR ORGANIZATIONS. NOTE THAT THE SECRETARY IS PAID FROM ROTARY CLUB OF CLEVELAND, A RELATED ORGANIZATION. A PORTION OF HER SALARY IS INCLUDED WITHIN THE MANAGEMENT FEE CHARGED TO THE FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CURRENT FORM 990, CURRENT GOVERNING DOCUMENTS AND CURRENT FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0ROTARY CLUB OF CLEVELAND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0340499290
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(4)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0COMMUNITY SERVICE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0377 LEAR ROAD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0AVON LAKE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd044012
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt044000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0ROTARY CLUB OF CLEVELAND
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0P
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00

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