The George Gund Foundation is a charitable foundation established in 1952 to provide grants in the areas of the arts , civic engagement , community development , economic development , environmental policy , and human services , public education , racial inequality . As of 2019, the foundation had made grants totaling more than $ 722 million since its inception. It is the second-largest charitable foundation in Cleveland.
41-636: The George Gund Foundation was created in 1952 as a private foundation by George Gund II , a businessman living in Cleveland, Ohio . Gund inherited a sizeable brewing industry fortune from his father. President Woodrow Wilson signed the Food and Fuel Control Act into law on August 10, 1917, which banned the manufacture of retail liquor and beer for the duration of the emergency created by World War I. Unable to make beer, in May 1919 Gund purchased all 15,000 shares of
82-415: A former such entity). It is defined by a negative definition: by what it is not. A private foundation is not a public charity , as described in section 170(b)(1)(A) (i) through (vi). Neither is it a section 509(a)(2) organization, nor a supporting organization . Private foundations are subject to 1.39% excise taxes found in section 4940 through 4945 of the internal revenue code. Once a charity becomes
123-488: A private foundation, it retains that status unless it follows the difficult termination rules of section 507. Every organization that qualifies for tax exemption as an organization described in section 501(c)(3) is a private foundation unless it falls into one of the categories specifically excluded from the definition of that term (referred to in section 509(a)). In addition, certain nonexempt charitable trusts are also treated as private foundations. Organizations that fall into
164-489: A specific purpose. A private foundation may have diverse purposes, including collective, familiar, or the purpose of passive administration of funds. Normally, the supervision of a private foundation is done by the county government where the foundation has its domicile, however, large foundations must be registered by the County Administrative Board (CAB), which must also supervise the administration of
205-698: A three-week break and then repeating that pattern for four 10-week terms throughout the year. The Cleveland Water Alliance is a network of corporations, academic institutions, and public agencies across Northeast Ohio with a common goal: address the issues of water quality and water access that are critical for life on our planet. Housed at Great Lakes Science Center, the Alliance creates conversations and connections to bring attention to these critical issues and develop an economy in Northeast Ohio around their solutions. Working with its partners and collaborators,
246-529: A touch-screen kiosk displaying both real-time and historical data. The Great Lakes Science Center is located between FirstEnergy Stadium and the Rock and Roll Hall of Fame at North Coast Harbor on the shore of Lake Erie . Discounted parking is available for guests in the attached 500-car garage. Previously located at the NASA Glenn Research Center located on Cleveland's south side,
287-546: Is a separate admission fee. The 1925-built Steamship Mather is a restored 618-foot historic Great Lakes freighter. The flagship has huge cargo holds, brass and oak pilot house, guest quarters, and four-story engine room. There is a separate admission fee. Commonly referred to as "The Ship That Built Cleveland". MC2 STEM High School is the result of an innovative partnership between the Cleveland Metropolitan School District (CMSD) and
328-466: Is a tax-exempt organization that does not rely on broad public support and generally claims to serve humanitarian purposes. Unlike a charitable foundation , a private foundation does not generally solicit funds from the public or have the legal requirements and reporting responsibilities of a registered non-profit or charitable foundation. Not all foundations engage in philanthropy; some private foundations are used for estate planning purposes. One of
369-442: Is made up of a majority of directors at arm's length. A private foundation is not allowed to engage in any business activity, but it can operate its own charitable program. The Canada Revenue Agency designates the application as a "charitable organization", a "public foundation", or a "private foundation", depending on its structure, its source of funding and its operation. The Income Tax Act requirements are different, depending on
410-623: Is the largest private foundation in the U.S. with over $ 38 billion in assets. Most private foundations are much smaller. Out of the 84,000 private foundations that filed with the IRS in 2008, approximately 66% have less than $ 1 million in assets, and 93% have less than $ 10 million in assets. In aggregate, private foundations in the U.S. control over $ 628 billion in assets and made more than $ 44 billion in charitable contributions in 2007. The following foundations are set up under civil law legal systems: The Austrian Private Foundation (Privatstiftung)
451-606: The Canada Revenue Agency is a branch of the Canadian government which regulates all foundations. Under Canadian law, since 1967, a private foundation is controlled by a single donor or family through a board that is made up of a majority (more than 50%) of directors at non-arm's length. It is a legally registered charity with the Canada Revenue Agency. A public foundation is governed by a board that
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#1732786816756492-422: The recession that began in 2001 , the foundation's endowment had shrunk slightly to $ 425 million ($ 720 million in 2023 dollars). Bergholz retired at the end of 2002, and was succeeded by David Abbott, president of University Circle Inc. Abbott, a former Cuyahoga County administrator, worked closely with The Gund Foundation as executive director of the Rock and Roll Hall of Fame and as executive director of
533-460: The 1950s, the foundation focused primarily on education and grants were small, ranging from $ 10 to $ 10,000. Grant amounts began to become substantially larger after 1960. At Gund's death in November 1966, his estate was worth about $ 24.5 million ($ 230 million in 2023 dollars) after the payment of debts and fees. The bulk of his estate went to The George Gund Foundation. With this contribution,
574-602: The American subsidiary of the German company Kaffee HAG , which had developed a process for manufacturing instant decaffeinated coffee . Spending just $ 318,768 ($ 5.6 million in 2023 dollars) to purchase the company, Gund sold it to Kellogg's in 1927 for $ 10 million ($ 175 million in 2023 dollars). Gund became a major stockholder in Kellogg's, and invested in banking, insurance, and real estate. Among his investments
615-869: The BioMedTech Gallery, advanced energy, science phenomena and space. The Science Center is home to the NASA Glenn Visitor Center, one of only 11 such Visitor Centers in the country. Also, Science Center staff conduct daily science demonstrations. Throughout the school year, the Science Center provides STEM education to field trip students each year with programs and exhibits supporting classroom curriculum by meeting Ohio Revised Standards in Science. It also provides educator professional development programming. Homeschool workshops and programs are offered October through February. During
656-500: The Cleveland Bicentennial Commission. In 2014, The George Gund Foundation joined Cuyahoga County in launching the nation's first county-level Pay for success (PFS) project aimed at reducing the amount of time children whose families are homeless stay in foster care. In November 2019, Geoffrey Gund retired as president of The George Gund Foundation. The board elected Catherine Gund as his successor. At
697-627: The NASA Glenn Visitor Center began to relocate within the Great Lakes Science Center in early 2010. Admittance is included with the Science Center's general admission. The NASA Glenn Visitor Center offers galleries, interactive exhibits, artifacts and NASA media. Great Lakes Science Center also hosts monthly Space Saturday programs featuring space-themed activities, and an annual Space Adventure Week with space-themed events and programs, and guest speakers from NASA Glenn Research Center. Programs are free with paid general admission to
738-512: The Science Center's annual electrical needs. A year later, it completed the installation of a 300-foot solar array canopy featuring 156 photovoltaic panels that provide enough power to light all of the Science Center's 65,000 square feet of exhibition space for one hour. During the course of a year, the solar array produces an average of 100 kWh per day, the equivalent of the average electrical usage of four homes. The Science Center also offers alternative energy exhibitions for guests to interact with
779-536: The Science Center. The Great Lakes Science Center also holds the DOME Theater. The theater, called "The Cleveland Clinic DOME Theater," uses 70mm film, a 15,000 Watt projector light and a six channel sound system. The projector weighs 4200Lb (1910 kg) and uses 5.6 feet of film per second. The Theater shows films shot in IMAX, the world's largest film format. The theater is 79 feet tall and seats 300 people. There
820-503: The Science Center. Focusing on STEM education (science, technology, engineering and math), the school furthers the mission of both organizations and makes science education come alive. Designed as a project-based learning environment, the MC2 STEM High School exposes students to the design and implementation practices scientists and engineers use. School is in session year-round, with students working for 10 weeks, taking
861-944: The board of trustees in 1973, and Frederick K. Cox became the foundation's president. Geoffrey Gund joined the board in 1976. Henry C. Doll served as Acting Executive Director from Lipscomb's death until August 1988. He was succeeded as acting director in September 1988 by Richard M. Donaldson. David Bergholz, the assistant director of the Allegheny Conference on Economic Development, was named the new executive director in November 1988. He began his tenure in January 1989. In 1990, The George Gund Foundation had assets of about $ 303.5 million ($ 708 million in 2023 dollars), and donated just over $ 11.9 million ($ 28 million in 2023 dollars) in grants that year alone. Frederick K. Cox died in 1994, and Geoffrey Gund became president. At
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#1732786816756902-527: The characteristics of the legal entities existing under the status of "Foundations" is a wide diversity of structures and purposes. Nevertheless, there are some common structural elements that are the first observed under legal scrutiny or classification. Some of the above must be, in most jurisdictions, expressed in the document of establishment. Others may be provided by the supervising authority at each particular jurisdiction. The following foundations are set up under common law legal systems : In Canada ,
943-537: The end of 1953, The George Gund Foundation had assets worth just $ 166,878 ($ 1.92 million in 2023 dollars). The foundation received certification from the Internal Revenue Service as a 501(c)(3) charitable organization in 1955. By 1960, it had about $ 30 million ($ 309,000,000 in 2023 dollars) in assets. Disbursement of funds to various causes left The George Gund Foundation with just $ 16.4 million ($ 161,100,000 in 2023 dollars) in assets by 1964. In
984-603: The excluded categories are institutions such as hospitals or universities and those that generally have broad public support or actively function in a supporting relationship to such organizations. In the United States, there are several restrictions and requirements on private foundations, including: Violations of these provisions give rise to taxes and penalties against the private foundation and, in some cases, its managers, its substantial contributors, and certain related persons. The Bill & Melinda Gates Foundation
1025-446: The foundation trustees began re-examining the foundation's focus and decided to widen its focus to include civic, cultural, social, economic, and environmental needs. For the first time, The George Gund Foundation began supporting community organizations and began making grants to nonprofits working in the areas of affordable housing, child abuse prevention, drug abuse prevention, gun control, and juvenile justice. Under Lipscomb's guidance,
1066-456: The foundation's assets grew significantly from 1970 to 1981, reaching $ 83 million ($ 278 million in 2023 dollars). By 1972, George Gund III and Albrecht Saalfield ( Agnes Gund 's husband) had joined the board of trustees, and by 1986 there were seven staff working alongside the executive director. The foundation made $ 45 million in grants from 1970 to 1981, and another $ 50 million in grants from 1982 to 1988. Hawley E. Stark retired from
1107-480: The foundation's president. In 1967, 1968, and 1969, The George Gund Foundation made $ 9 million worth of donations, of which $ 6.5 million went to name buildings and programs in honor of George Gund II. In 1969, the foundation hired its first full-time staff person. This was James S. Lipscomb, and he served as executive director of The George Gund Foundation from 1969 until his death in June 1987. During Lipscomb's tenure,
1148-590: The foundation. The main legal instruments governing private foundations in Sweden are those that regulate foundations in general: the Foundation Act (1994:1220) and the Regulation for Foundations (1995:1280). Great Lakes Science Center The Great Lakes Science Center is a museum and educational facility in downtown Cleveland , Ohio , United States. Many of the exhibits document the features of
1189-640: The founder and beneficiaries are non-residents of Mauritius. A foundation in the Netherlands (Stichting) is a legal person created through a legal act. This act is usually either a notarised deed (or a will) that contains the articles of the foundation which must include the first appointed board. Foundation legislation was last reformed in 1998, giving rise to the Netherlands Antilles Private Foundation (Stichting Particulier Fonds). The Nevis Multiform Foundation
1230-543: The fund's assets rose to just over $ 40 million ($ 376 million in 2023 dollars). George Gund II's death left the foundation in the hands of four trustees: His 27-year-old son, Gordon Gund ; George F. Karch, chairman of the Cleveland Trust Company; Frederick K. Cox, vice chairman of the Cleveland Trust Company; and Hawley E. Stark, corporate legal counsel for the Cleveland Trust Company. The latter three were all George Gund II's close friends. Stark became
1271-596: The natural environment in the Great Lakes region of the United States. The facility includes signature (permanent) and traveling exhibits, meeting space, a cafe, and an IMAX Dome theater. Great Lakes Science Center is funded by the citizens of Cuyahoga County through Cuyahoga Arts and Culture, grants, funds, and corporate and individual gifts. The museum opened in July 1996. The center's exhibits support STEM (science, technology, engineering, math) with exhibits including
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1312-670: The private foundation to beneficiaries. The Liechtenstein Family Foundation (Stiftung) was first introduced in 1926 and updated by the Act Reforming the Persons and Companies Act in 2008 which included a new Act on Foundations. They are allowed to pursue non-commercial and/or private benefit purposes. Private Benefit Family Foundation pays no taxes. The Mauritius Foundation was introduced following 'The Foundations Act' of 2012. Such entities are tax exempt as long as
1353-435: The summer, the Science Center offers educational and fun camps for preschoolers through 12th graders that occur in various locations throughout Northeast Ohio. Year round, the Science Center provides classes, workshops, sleepovers and scout programs, as well as seasonal events for families, kids and adults. The Science Center installed a wind turbine in its front yard in summer 2006. The wind turbine provides approximately 7% of
1394-511: The time he assumed the presidency, The Gund Foundation had just two full-time staff and was making about $ 3.5 million ($ 7.19 million in 2023 dollars) in grants annually. In the 1990s, The Gund Foundation gave $ 15 million ($ 29.1 million in 2023 dollars) to the Great Lakes Science Center to help construct its building. Made to help improve the city's cultural offerings in time for the city's bicentennial in 1996, it
1435-417: The time of Geoffrey Gund's retirement, The Gund Foundation was awarding about $ 25 million ($ 29.8 million in 2023 dollars) in grants annually and had a staff of 12. The fund had distributed $ 722 million in grants during its history, $ 584 million of which came during Geoffrey Gund's tenure as president. With assets worth $ 486.9 million ($ 591 million in 2023 dollars) as of 2018, The George Gund Foundation
1476-653: The type of charity ( Income Tax Act , R.S.C. 1985 (5th supp.) c. 1, para. 149.1(4)(a)). Foundations were first introduced in The Bahamas in December 2004 following the Foundations Act. A private foundation, in the United States, is a charitable organization described in the Internal Revenue Code by section 509. A private foundation is necessarily a 501(c)(3) exempt organization (or
1517-701: Was Cleveland's second-largest foundation, behind The Cleveland Foundation , The George Gund Foundation's interests include: Arts, Economic Development and Community Revitalization, Education, Environment, and Human Services. The Foundation's focus is centered in Greater Cleveland , though a portion of the Foundation's grantmaking supports state and national policy making that bolsters its work locally. The Foundation only makes grants to 501(c)(3) organizations and to qualified government units and agencies. Private foundation A private foundation
1558-534: Was introduced in 2005. The Panama Private Interest Foundation was introduced following the Law 25, June 12, 1995. The Saint Kitts Foundation was introduced following the Foundation Act of 2003. The Seychelles Foundation was introduced following the Foundation Act of 2009. A private foundation in Sweden (Stiftelse) is formed by a letter of donation from a founder donating funds or assets to be administered for
1599-500: Was last reformed under the Private Foundation Act in September 1993. The Austrian private foundation is considered a legal person having beneficiaries rather than shareholders or proprietors and may be established for any purpose. There are three levels of taxation related to Austrian private foundations: taxation of asset transfers, ongoing taxation of the private foundation's income; and taxation of distributions from
1640-739: Was the largest single grant in the foundation's history. By 2002, however, the foundation had given $ 25 million over several years to the Foundation Fighting Blindness . Catherine Gund , Agnes Gund's daughter, joined the board in 1998. By 2002, The Gund Foundation's board of trustees had grown to eight. Six Gund family members were on the board of trustees, including newly appointed trustee Zachary Gund (Gordon's son). The foundation had also begun to expand its grantmaking to include boosting nonprofit organizations doing good work but which needed funds to reorganize, reorient, or merely overcome bad luck in order to survive. Combined with
1681-559: Was the purchase of a significant amount of stock in the Cleveland Trust Company , a small Cleveland bank. He was named a director of the bank in 1937, its president in 1941, and chairman of the board in 1962. Gund transformed the bank into Cleveland's largest bank; at the time of his death, it was the 18th largest bank in the United States. He was one of Cleveland's richest men at the time of his death in 1966, worth about $ 200 million ($ 1.83 billion in 2023 dollars). At