Overview
What is J H Wade For Cleveland Museum Of Art?
J.H. Wade for the Cleveland Museum of Art is a nonprofit organization that operates under a trust agreement, established in 1920. Its primary mission is to provide funds for the Cleveland Museum of Art to acquire and exhibit works of art within its building. According to the Ohio Institutional Trust Funds Act of 1999, the beneficiary has opted to receive the maximum income, either 5% of the adjusted fund value or traditional income. KeyBank ensures alignment with the organization's objectives in managing the trust's income. The nonprofit's purpose is centered around supporting the Cleveland Museum of Art by funding art acquisitions and exhibitions.
Is J H Wade For Cleveland Museum Of Art legitimate?
J H Wade For Cleveland Museum Of Art is a legitimate nonprofit organization registered as a 501(c)(3) entity. J H Wade For Cleveland Museum Of Art submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $30,867
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of J H Wade For Cleveland Museum Of Art?
The mission of J H Wade For Cleveland Museum of Art, as outlined in its trust agreement dated July 8, 1920, is to support the Cleveland Museum of Art by providing funds for the acquisition of art pieces. These artworks are then displayed within the museum building. The organization operates under the Ohio Institutional Trust Funds Act of 1999, which allows it to receive the maximum income from the trust, either 5% of the adjusted net asset value (AFV) or traditional income. KeyBank, in its role as trustee, maintains a responsiveness to the needs and activities of the beneficiary organization in achieving its mission. This mission, in essence, is to contribute financially to the expansion and enrichment of the art collection at the Cleveland Museum of Art.
Who is the CEO of J H Wade For Cleveland Museum Of Art?
Unavailable
What is the revenue of J H Wade For Cleveland Museum Of Art?
J H Wade For Cleveland Museum Of Art's revenue in 2022 was $1,560,844.
Who are the executives of J H Wade For Cleveland Museum Of Art and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $30,867
- Related: $0
- Other: $0
Where can I find the form 990 for J H Wade For Cleveland Museum Of Art?
J H Wade For Cleveland Museum Of Art's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of J H Wade For Cleveland Museum Of Art
J.H. Wade for Cleveland Museum of Art, as per its trust agreement dated July 8, 1920, is tasked with providing funds to the Cleveland Museum of Art. The trustees are directed to utilize the net income from the trust to purchase works of art, which are then displayed in the museum's building. Under the Ohio Institutional Trust Funds Act of 1999, the beneficiary has chosen to receive the maximum income, either 5% of the adjusted net fair value (AFV) or traditional income. KeyBank maintains a responsiveness to the needs and activities of the beneficiary organization, ensuring they can effectively accomplish their mission.
In essence, J.H. Wade for Cleveland Museum of Art plays a crucial role in supporting the Cleveland Museum of Art by providing funds to acquire and display works of art. Their mission is guided by the Ohio Institutional Trust Funds Act of 1999, which allows them to maximize their income to better serve the museum and its mission of showcasing art to the public. KeyBank's involvement ensures the organization remains responsive to the museum's needs and activities, ensuring the successful accomplishment of its mission.
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Impact
October, 2024
The J H Wade Fund significantly impacts the Cleveland Museum of Art by providing essential financial support for the acquisition of artwork. Established through a trust agreement in 1920, the fund ensures that the museum can continuously enrich its collection with high-quality works that are showcased to the public. This ongoing investment not only enhances the museum's exhibitions but also contributes to the cultural and educational landscape of the community. By enabling the museum to procure notable pieces, the J H Wade Fund plays a crucial role in preserving art heritage and fostering appreciation for the arts in Cleveland and beyond.
This information is meant to be a general summary of J H Wade For Cleveland Museum Of Art. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,560,844
- Gross Receipts: $2,848,458
Assets and Liabilities:
- Total Assets: $28,241,964
- Total Liabilities: $0
- Net Assets: $28,241,964
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Organization Details
Founding Year
1920
Phone
(216) 689-0969Main Address
4900 TIEDEMAN ROAD OH-01-49-0381, BROOKLYN, OH, 44144
NTEE Category
Code: A51 - Arts
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