HIGLEY FUND OF THE CLEVELAND FOUNDATION (EIN 341784955) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1994

Legal Domicile

Principal Officer

SHARON HIGLEY WATTS

Phone

2168613810

Tax Period

2024-01-01 to 2024-12-31

HIGLEY FUND OF THE CLEVELAND FOUNDATION, founded in 1994, is a community nonprofit that reported $3.2M in total revenue in fiscal year 2024. Revenue surged 151% from the prior year, signaling strong growth momentum. Expenses of $2.7M left a modest 14% surplus.

Mission

THE ORGANIZATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF, AND TO CARRY OUT THE CHARITABLE AND EDUCATIONAL FUNCTIONS OF THE CLEVELAND FOUNDATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $3,173,733

Other Revenue $0

TOTAL REVENUE $3,173,733

Expense Breakdown

Grants Paid $2,218,705

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $2,218,705

Other Expenses $515,423

TOTAL EXPENSES $2,734,128

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,173,733	$1,261,924	+1.5%
Expenses	$2,734,128	$2,624,283	+0.0%
Net Income	$439,605	$-1,362,359	-1.3%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

$530,819

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHARON HIGLEY WATTS	PRESIDENT	1.00	Officer Director	$0	$0	$0
DOUG WANG	FIRST VICE PRESIDENT & TRUSTEE	0.50	Officer Director	$0	$0	$0
PATRICIA NOBILI	VICE PRESIDENT & TRUSTEE	0.50	Officer Director	$0	$0	$0
JEFF LINTON	VICE PRESIDENT & TRUSTEE	0.50	Officer Director	$0	$0	$0
BRIAN BROADBENT	VICE PRESIDENT & TRUSTEE	0.50	Officer Director	$0	$0	$0
GINGER F MLAKAR	SECRETARY	0.50	Officer	$0	$56,466	$304,319
ANTHONY GATTUSO	TREASURER	0.50	Officer	$0	$46,913	$226,500

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	$3,173,733	$2,734,128	$44,257,403	$439,605
2023	$1,261,924	$2,624,283	$40,483,181	$-1,362,359
2022	$2,575,722	$2,321,685	$37,217,207	$254,037
2021	$3,866,437	$2,402,401	$45,795,016	$1,464,036
2020	$999,042	$2,479,148	$42,268,433	$-1,480,106

HIGLEY FUND OF THE CLEVELAND FOUNDATION