The Cleveland Clinic Foundation
90% goes to programs $6 to raise $100 Strong reserves Growing revenue
The Cleveland Clinic Foundation is a 501(c)(3) organization based in Cleveland, Ohio, registered in 1928, with $9,680,031,802 in FY2024 revenue. CharityIndex grades it A, and it directs about 90% of spending to programs.
9500 Euclid Ave Rk-15, Cleveland, OH, 44195 EIN 34-0714585 Since 1928
Revenue (FY2024)
$9.7B
▲ 8.1% vs prior year
Health median: $840K
Expenses (FY2024)
$9.4B
Net assets
$8.8B
Employees
47,521
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating90% to programs · $6 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For The Cleveland Clinic Foundation: 90% to programs · $6 to raise $100 earns a A on this criterion. See the exact thresholds →
AFinancial health25% of the rating11 mo reserves · +3% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For The Cleveland Clinic Foundation: 11 mo reserves · +3% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For The Cleveland Clinic Foundation: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For The Cleveland Clinic Foundation: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Caring for life, researching for health and educating those who serve.
Contact & location
- Address
- 9500 Euclid Ave Rk-15, Cleveland, OH, 44195
- City
- Cleveland
- State
- Ohio
- Category
- Health Care
- Subcategory
- Hospitals
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $5.1B (FY2013) to $9.7B (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $8.6BNet assets $8.8B
Operating margin
2.5%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$17.4B
Total liabilities
$8.6B
Net assets
$8.8B
Salaries & benefits
$5.2B
56% of expenses
Board members
22
19 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $9,680,031,802▲8.1% | $9,434,081,551▲10.7% | $8,783,896,513▲5.6% | $17,384,365,197▲9.4% | 990 |
| 2023 | $8,958,297,084▲18.1% | $8,518,490,199▲11.0% | $8,317,652,692▲2.2% | $15,892,710,603▲3.5% | 990 |
| 2022 | $7,583,607,049▼5.9% | $7,671,629,275▲11.9% | $8,136,924,016▼4.5% | $15,354,669,845▼0.7% | 990 |
| 2021 | $8,056,049,799▲14.6% | $6,852,996,449▲8.1% | $8,522,766,410▲20.4% | $15,457,099,264▲12.8% | 990 |
| 2020 | $7,032,042,495▲3.0% | $6,338,900,378▲1.7% | $7,081,421,925▲12.9% | $13,701,552,445▲10.1% | 990 |
| 2019 | $6,830,413,008▲9.2% | $6,232,896,760▲5.9% | $6,274,142,999▲15.6% | $12,446,161,990▲13.2% | 990 |
| 2018 | $6,254,104,726▲4.7% | $5,883,535,837▲5.4% | $5,429,801,453▲0.5% | $10,990,906,558▲1.1% | 990 |
| 2017 | $5,973,236,617▲6.1% | $5,582,278,577▲2.8% | $5,402,146,197▲15.0% | $10,870,079,986▲8.7% | 990 |
| 2016 | $5,631,825,986▲5.7% | $5,428,057,557▲13.2% | $4,697,021,878▲7.3% | $10,001,576,185▲10.3% | 990 |
| 2015 | $5,329,641,297▲4.7% | $4,794,639,312▲2.1% | $4,377,917,712▲7.4% | $9,069,861,870▲2.5% | 990 |
| 2014 | $5,090,394,271▼0.7% | $4,697,479,724▲2.4% | $4,077,516,873▲11.0% | $8,846,770,261▲14.7% | 990 |
| 2013 | $5,126,858,838 | $4,587,233,670▲4.4% | $3,672,980,277▲34.8% | $7,710,452,150▲8.1% | 990 |
| 2012 | — | $4,395,971,617▲11.2% | $2,724,556,697▲15.3% | $7,132,666,670▲12.3% | 990 |
| 2011 | — | $3,953,641,244▲6.0% | $2,363,680,979▼0.2% | $6,349,862,963▲5.9% | 990 |
| 2010 | — | $3,728,521,887 | $2,367,475,265 | $5,996,125,874 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Mihaljevic Md Tomislav — $7,650,847 (0.08% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Mihaljevic Md Tomislav | Director, President & Ceo | 50 | $7,650,847 |
| Laraway Dennis | Evp, Cfo & Treasurer | 50 | $3,127,004 |
| Haber Md Georges-pascal | Ceo, Ccad (part Yr) | 50 | $2,538,489 |
| Svensson Md Lars | Institute Chief - Hvti | 50 | $2,433,081 |
| Rowan David W | Sec, Evp, Chief Legal Off (part Yr) | 50 | $2,224,430 |
| Strein Stefan | Vp, Chief Investment Officer | 50 | $2,173,858 |
| Hancock Dnp Rn Ne-bc Kelly | Evp, Chief Caregiver Off & Cao | 50 | $2,157,469 |
| Gillinov Md A Marc | Dept Chair, Thoracic & Cardiovas Surgery | 50 | $2,141,240 |
| Chandra Phd Rohit | Evp, Chief Digital Officer | 50 | $2,133,862 |
| Peacock William M | Evp, Chief of Operations | 50 | $2,107,674 |
| Najm Md Hani | Chair, Ped & Congenital Heart Surgery | 50 | $2,082,568 |
| Hull Md Tracy | Physician (retiree 2024) | 50 | $2,081,704 |
| Ridgeway Md Beri | Dir, Evp Enterprise Chief of Staff | 50 | $1,986,502 |
| Guzman Md Jorge | Evp, Pres Neo Mkt (part Yr) | 50 | $1,929,479 |
| Erzurum Md Serpil | Evp, Chief Research & Academic Off | 50 | $1,706,633 |
| Malone Jr Md Donald A | Evp, Pres Neo Mkt (part Yr) | 50 | $1,610,899 |
| Gordon Deborah | Evp, Clo, Sec (part Yr) | 50 | $1,118,264 |
| Falcone Md Tommaso | Evp, Pres Intl Emerg Mkts (pt Yr) | 50 | $1,065,510 |
| Davis Marleina | Asst. Secretary (part Yr) | 50 | $866,687 |
| Eaton Johnson Vickie | Evp, Chief Community Off (part Yr) | 50 | $745,853 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Qualivis LLC | Personnel Services | $91,837,852 |
| Turner Construction Co | Construction Services | $44,259,662 |
| Gilbane Building Co | Construction Services | $32,320,738 |
| Siemens Medical Solutions Inc | Healthcare It & Engineering Services | $29,380,339 |
| Whiting-turner Contracting | Construction Services | $24,668,781 |
Grants received · $231.9M total
746 grants to The Cleveland Clinic Foundation totaling $231.9M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Cleveland Foundation | Taussig cancer research | 2024 | $2,689,013 |
| American Cancer Society Inc | Support/research | 2024 | $1,987,500 |
| Gs Donor Advised Philanthropy Fund For Wealth Management Inc | Medical / public services | 2024 | $1,896,000 |
| Michael J Fox Foundation For Parkinsons Research | Parkinson's research | 2024 | $1,319,471 |
| Cystic Fibrosis Foundation | Clinical care research | 2024 | $1,050,149 |
| Ayco Charitable Foundation | Medical / public services | 2024 | $1,042,400 |
| Parkinsons Foundation Inc | Professional training | 2024 | $668,474 |
| American Heart Association Inc | Research | 2024 | $542,023 |
| Jewish Communal Fund | In furtherance of grantee's tax-exempt purpose | 2024 | $404,400 |
| Charities Aid Foundation America | Charitable donation | 2024 | $318,434 |
| Raymond James Charitable Endowment Fund | General support | 2024 | $298,670 |
| AARP | Sponsorship to support the women's alzheimer's movement | 2024 | $257,500 |
| Crohns & Colitis Foundation Inc | Research | 2024 | $257,471 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $207,500 |
| Cystic Fibrosis Foundation | Cf care center | 2024 | $185,285 |
Grants made · $41.6M in FY2024
100 grants totaling $41.6M in FY2024 — showing the 15 largest. All grants made by The Cleveland Clinic Foundation →
| Recipient | Purpose | Amount |
|---|---|---|
| The Cleveland Clinic Educational Foundation | Community support | $28,802,439 |
| Healthy Lakewood Foundation | Community support | $4,600,000 |
| Medwish Medworks | Community support | $3,432,939 |
| Greater Cleveland Food Bank Inc | Community support | $717,571 |
| Legal Aid Society of Cleveland | Community support | $391,000 |
| American Cancer Society Inc | Community support | $343,800 |
| American Heart Association Inc | Community support | $335,000 |
| Ohio Health Information Partnership LLC | Community support | $240,000 |
| Case Western Reserve University | Community support | $205,200 |
| Fairfax Renaissance Development Corporation | Community support | $152,049 |
| Oneten Coalition Inc | Community support | $150,000 |
| Ellis Island Honors Society Inc | Community support | $150,000 |
| Childrens Hunger Alliance | Community support | $130,000 |
| Ronald Mcdonald House Charities of Northeast Ohio Inc | Community support | $108,295 |
| Aats Foundation | Community support | $105,000 |
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Frequently asked questions
- Is The Cleveland Clinic Foundation a legitimate nonprofit?
- Yes. The Cleveland Clinic Foundation is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 34-0714585, based in Cleveland, Ohio. Donations are tax-deductible.
- What is The Cleveland Clinic Foundation's EIN?
- The Cleveland Clinic Foundation's Employer Identification Number (EIN) is 34-0714585.
- How much revenue does The Cleveland Clinic Foundation report?
- The Cleveland Clinic Foundation reported $9,680,031,802 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of The Cleveland Clinic Foundation's spending goes to programs?
- The Cleveland Clinic Foundation spends about 90% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does The Cleveland Clinic Foundation have?
- CharityIndex grades The Cleveland Clinic Foundation A, based on program efficiency and fundraising cost.
- How much does The Cleveland Clinic Foundation's highest-paid employee make?
- The highest reported compensation on The Cleveland Clinic Foundation's latest Form 990 is $7,650,847, paid to Mihaljevic Md Tomislav (Director, President & Ceo).
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Data for The Cleveland Clinic Foundation (EIN 34-0714585) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.