JOHN L SEVERANCE

EIN: 346506884 501(c)(3) Arts, Culture & Humanities

BROOKLYN, OH

Total Revenue
$2,728,609
Total Expenses
$4,668,299
Total Assets
$62,320,777
Net Assets
$62,320,777
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1945
Legal Domicile
OH
Phone
2168134556
Tax Period
2025-01-01 to 2025-12-31

JOHN L SEVERANCE, founded in 1945, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.7M in total revenue in fiscal year 2025. Revenue fell 79% from the prior year — a significant decline worth monitoring. Expenses of $4.7M exceeded revenue, resulting in a 71% operating deficit.

Mission

GRANTS ARE MADE ACCORDING TO THE LAST WILL AND TESTAMENT OFJOHN L SEVERENCE DATED JANUARY 31, 1935 IN CONJUNCTION WITH THE TRUST AGREEMENT DATED DECEMBER 23, 1915 AND THE OPERATING AGREEMENT DATED APRIL 30, 2009. IN COMPLIANCE WITH THE TRUST DOCUMENT, KEYBANK AS TRUSTEE, MAKES GRANTS TO THE CLEVELAND MUSEUM OF ART TO BE USED TO PURCHASE WORKS OF ART. UNDER THE OHIO INSTITUTIONAL TRUST FUNDS ACT OF 1999, THE BENEFICIARY HAS CHOSEN TO RECEIVE THE MAXIMUM OF INCOME BASED ON THE GREATER OF 5% OF AFV OR TRADITIONAL INCOME.KEYBANK MAINTAINS A RESPONSIVENESS TO THE NEEDS AND ACTIVITIES OF THEBENEFICIARIES ORGANIZATION IN THE ATTAINMENT OF ITS MISSION. PLEASE NOTE THE CHARITY HAS A RIGHT TO DIRECT OR APPROVE INVESTMENTS AND THETRUSTEE HAS THE AUTHORITY TO AMEND THE DOCUMENT TO INSURE THECONTINUATION TO QUALIFY AS A 509(A)(3).

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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 (2025)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $2,728,609
Other Revenue $0
TOTAL REVENUE $2,728,609

Expense Breakdown

Grants Paid $4,244,559
Salaries & Benefits $420,652
Fundraising Expenses $0
Program Expenses $4,244,559
Other Expenses $3,088
TOTAL EXPENSES $4,668,299

Year-over-Year Comparison

2025 2024 Change
Revenue $2,728,609 $13,036,691 -0.8%
Expenses $4,668,299 $4,167,851 +0.1%
Net Income $-1,939,690 $8,868,840 -1.2%
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

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Liquidity & Cash Position

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Governance

Voting Members
1
Independent Members
N/A
Employees
N/A
Volunteers
N/A

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
0
$0
Total Directors
1
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Russ Klimczuk CMA Asst Treasurer of Finance 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
$420,652 $0 $420,652
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
2025 $2,728,609 $4,668,299 $62,320,777 $-1,939,690
2024 $13,036,691 $4,167,851 $64,091,830 $8,868,840
2023 $2,017,091 $4,212,937 $55,391,624 $-2,195,846
2022 $3,316,435 $4,560,349 $57,587,472 $-1,243,914
2021 $4,464,253 $3,798,438 $58,831,389 $665,815
2020 $2,331,201 $3,827,999 $58,165,574 $-1,496,798
2019 $4,318,339 $3,832,836 $59,662,372 $485,503
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