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Cleveland Carousel FY2020 filing

Tax-deductible

Shaker Hts, OH501(c)(3)Arts & CultureEIN 26-4517731Revenue $17K in FY2020

On file with the IRSclevelandcarousel.com3199 Falmouth Rd, 44122-2844 · Shaker Hts, OHTax-exempt since Mar 2010Publicly supported — 509(a)(2)

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The Carousel society serves to restore the 1910 grand euclid beach Carousel to be a functional, self-sustaining regional historic and cultural landmark for enjoyment and programmatic community development through its placement in the western reserve historical society's Cleveland history center in university circle, where over 2.5 million people from around the world come to visit each year.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 3
filings with a surplus
Average deficit $44K a year · 255% of revenue · last 3 filings
Concern: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $9K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$17K
Spent
$120K
To programs
100%
Net assets
$76K
By yearFY2020–FY2022
Revenue
$17K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$17K
FY2021$100
FY2022$34K
Expenses
$120K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$120K
FY2021$60K
FY2022$3K
Net assets
$76K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$76K
FY2021$17K
FY2022$48K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2022) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022. IRS ruling in Mar 2010.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $120K Management & general 0% · $110

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
John Frato
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Terry Kovel
Chairperson
$0Pt VII · Sec A
Raymond R Rackley
Executive Di
$0Pt VII · Sec A
See Cleveland Carousel executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Restores a historic carousel to serve as a community landmark and cultural attraction.

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Provided by the organization

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1 program · $120K · in their own filed words · FY2020
01

The cleveland euclid beach park carousel society funded and built the "carousel pavilion" at the western reserve historical society located in university circle, cleveland, ohio. The cleveland euclid beach park carousel society also funded the restoration of the carousel mechanism and accoutrements to provide as near a historically…

$120Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2022
American Endowment FoundationFY2022$9K
Total grants receivedfrom 1 funder$9K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$17K
Ln 12
Gifts and grantsLn 1h$17K
Money outPt IX
$120K
Ln 25
Programscol B$120K
Managementcol C$110
Owns and owesPt X
$76K
net assets · Ln 32
Cash and savingsLn 1–2$25K
Total assetsLn 16$76K
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$17K
Total revenueLn 12$17K
Assets in detailPt X, end of year
CashLn 1$25K
Cash and savings togetherLn 1–2$25K
Land, buildings, equipmentLn 10c$51K
Total assetsLn 16$76K
LiabilitiesLn 26$0
Net assetsLn 32$76K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$26K$25K
Land, buildings, equipmentLn 10c$153K$51K
Total assetsLn 16$179K$76K
LiabilitiesLn 26$0$0
Net assetsLn 32$179K$76K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Office expensesLn 13$110$110
Information technologyLn 14$2K$2K
Depreciation, depletion and amortizationLn 22$102K$102K
Other expenses (24a–d)Ln 24$16K$16K
Total functional expensesLn 25$120K$120K$110$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest $34K$3K$31K$48K 990 PDF
FY2021 $100$60K−$60K$17K 990 PDF
FY2020 Viewing $17K$120K−$103K$76K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $17,036 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $100,931$17,036
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $100,931$17,036
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $119,650$119,713
I-18 Total expensesPrior year $119,650$119,713
I-19 Revenue less expensesPrior year −$18,719−$102,677
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $17,036 across 3 lines filed
VIII-1f All other contributions, gifts and grants$17,036
VIII-1h Total contributions, gifts and grants$17,036
VIII-12 Total revenue$17,036
Part IX · Statement of functional expenses $119,713 across 4 lines filed
IX-13 Office expensesManagement $110$110
IX-14 Information technologyPrograms $2,012$2,012
IX-22 Depreciation, depletion and amortizationPrograms $102,041$102,041
IX-24 Other expenses (24a–d)Programs $15,550$15,550
IX-25 Total functional expensesPrograms $119,603 · Management $110 · Fundraising $0$119,713
Part X · Balance sheet $76,308 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $25,924$25,288
X-10c Land, buildings and equipment, netStart of year $153,061$51,020
X-16 Total assetsStart of year $178,985$76,308
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $178,985$76,308
X-33 Total liabilities and net assetsStart of year $178,985$76,308
Part XI · Reconciliation of net assets $76,308 net assets at year end
XI-1 Total revenue$17,036
XI-2 Total expenses$119,713
XI-3 Revenue less expenses−$102,677
XI-4 Net assets at start of year$178,985
XI-10 Net assets at end of year$76,308

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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