CLEVELAND FESTIVAL OF ART AND TECHNOLOGY INC

EIN: 202031718 501(c)(3) Arts, Culture & Humanities

CLEVELAND, OH

Total Revenue
$641,387
Total Expenses
$701,506
Total Assets
$1,109,103
Net Assets
$279,554
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2004
Legal Domicile
OH
Principal Officer
EMILY APPELBAUM
Phone
2165899444
Tax Period
2023-01-01 to 2023-12-31

CLEVELAND FESTIVAL OF ART AND TECHNOLOGY INC, founded in 2004, is a small nonprofit in the Arts, Culture & Humanities sector that reported $641K in total revenue in fiscal year 2023.

Mission

INGENUITY CLEVELAND IGNITES THE SPARK OF CREATIVITY AMONG ARTISTS, ENTREPRENEURS AND INNOVATORS OF ALL TYPES, THROUGH JOY AND COLLABORATION, IN SERVICE TO CIVIC PROGRESS.

Program Service Accomplishments

Program 1
Expenses: $585,441

INGENUITYFEST- SERVES THE REGIONAL OHIO PUBLIC LOOKING FOR CREATIVE & INSPIRATIONAL EXPERIENCES. BENEFITS 20,000 PLUS INDIVIDUALS ANNUALLY- ALL AGES INCOME EDUCATION LEVELS, ETHNIC & GEOGRAPHIC...

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INGENUITYFEST- SERVES THE REGIONAL OHIO PUBLIC LOOKING FOR CREATIVE & INSPIRATIONAL EXPERIENCES. BENEFITS 20,000 PLUS INDIVIDUALS ANNUALLY- ALL AGES INCOME EDUCATION LEVELS, ETHNIC & GEOGRAPHIC BACKGROUNDS. BRINGS THE COMMUNITY TOGETHER FOR HANDS-ON EXPERIENCES FOR CHILDREN AND FAMILIES, YOUNG ADULTS, PROFESSIONALS, SENIORS, CREATIVES & HIPSTERS, AND NEIGHBORHOOD RESIDENTS, WHICH INSPIRE AND ENCOURAGE NEW IDEAS AND CHANGED PERSPECTIVES.

Program 2

IGNITE IMPACT AWARDS - SERVES FEMALE ENTREPRENEURS AND ENTREPRENEURS FROM MINORITY COMMUNITIES. BENEFITS - 5-10 MICROGRANTS AWARDED ANNUALLY. MICROGRANTS HELP RECIPIENTS CROSS A THRESHOLD, ASPIRING...

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IGNITE IMPACT AWARDS - SERVES FEMALE ENTREPRENEURS AND ENTREPRENEURS FROM MINORITY COMMUNITIES. BENEFITS - 5-10 MICROGRANTS AWARDED ANNUALLY. MICROGRANTS HELP RECIPIENTS CROSS A THRESHOLD, ASPIRING ENTREPRENEURS GET A VOTE OF CONFIDENCE ALONG WITH TANGIBLE ASSISTANCE SUCH AS SPACE, TOOLS, AND RESOURCES. AWARDEES PRESENT AT OTHER INGENUITY PROGRAMS, ARE CONNECTED TO PAID OPPORTUNITIES, AND HELP BUILD TRUST NETWORKS WITH POTENTIAL INCOMING PARTICIPANTS.

Program 3

IGNITE NEIGHBOR NIGHTS - SERVES ST. CLAIR-SUPERIOR RESIDENTS, ESPECIALLY FAMILIES. 8 EVENTS HELD ANNUALLY SERVING 200 PEOPLE EACH EVENT. RESPONSIVE AND ADAPTABLE TO COMMUNITY NEEDS...

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IGNITE NEIGHBOR NIGHTS - SERVES ST. CLAIR-SUPERIOR RESIDENTS, ESPECIALLY FAMILIES. 8 EVENTS HELD ANNUALLY SERVING 200 PEOPLE EACH EVENT. RESPONSIVE AND ADAPTABLE TO COMMUNITY NEEDS. INTERGENERATIONAL, HIGH-ENERGY PLATFORM FOR NEIGHBORHOOD PARTNERSHIPS. ACCESS TO RESOURCES AND NETWORK OF HELPERS.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $324,568
Program Service Revenue $316,819
Investment Income $0
Other Revenue $0
TOTAL REVENUE $641,387

Expense Breakdown

Grants Paid $0
Salaries & Benefits $203,542
Fundraising Expenses $46,914
Program Expenses $585,441
Other Expenses $497,964
TOTAL EXPENSES $701,506

Year-over-Year Comparison

2023 2022 Change
Revenue $641,387 $632,546 +0.0%
Expenses $701,506 $695,806 +0.0%
Net Income $-60,119 $-63,260 0.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
11
Independent Members
11
Employees
4
Volunteers
300

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$60,000
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
EMILY APPELBAUM EXECUTIVE DI 40.00
Officer
$60,000 $0 $60,000
BRETT ALTIER SECRETARY 6.00
Officer Director
$0 $0 $0
RADHIKA BALASUBRAMANIAM SECRETARY 6.00
Director
$0 $0 $0
KRISTEN HOOVER BOUTTON BOARD PRESID 6.00
Officer Director
$0 $0 $0
MICHAEL BRUDER BOARD MEMBER 1.00
Director
$0 $0 $0
CENA HILLIARD TREASURER 6.00
Director
$0 $0 $0
JENNIFER JONES BOARD MEMBER 1.00
Director
$0 $0 $0
JOHN MCGOVERN BOARD MEMBER 1.00
Director
$0 $0 $0
LAURA DEMARCO PETKOVIC BOARD MEMBER 1.00
Director
$0 $0 $0
GEORGE SMITH BOARD MEMBER 1.00
Director
$0 $0 $0
DAVID THOMAS TREASURER 6.00
Director
$0 $0 $0
BRIAN WHEATALL BOARD MEMBER 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $641,387 $701,506 $1,109,103 $-60,119
2022 $632,546 $695,806 $397,360 $-63,260
2021 $510,398 $357,848 $450,133 $152,550
2020 $407,617 $276,461 $328,850 $131,156
2019 $493,842 $575,849 $236,030 $-82,007
2018 $436,378 $503,228 $249,166 $-66,850
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