HIGLEY FUND OF THE CLEVELAND FOUNDATION

EIN: 341784955 501(c)(3)

CLEVELAND, OH

Total Revenue
$3,173,733
Total Expenses
$2,734,128
Total Assets
$44,257,403
Net Assets
$44,257,403
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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
OH
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.

Program Service Accomplishments

Program 1
Expenses: $2,218,705

GRANTMAKING FOR OR ON BEHALF OF THE CLEVELAND FOUNDATION TO SUPPORT THE CLEVELAND FOUNDATION OR 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%)

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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

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Governance

Voting Members
5
Independent Members
5
Employees
N/A
Volunteers
5

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
7
$530,819
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
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
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