Cleveland Avenue Fund
Cleveland Avenue Fund is a private foundation, based in Houston, TX. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $39.0M in total assets. In 2024, it awarded 1 grant totaling $2.0M. Net investment income was $2.4M.
Key facts about Cleveland Avenue Fund
In short: Cleveland Avenue Fund gave $2.0M across 1 grant in 2024 (avg $2.0M), mostly in New Jersey. Source: 2024 IRS Form 990-PF.
- EIN
- 83-2871250
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $2,011,973
- Grants made (2024)
- 1
- Average grant
- $2,011,973
- Median grant
- $2,011,973
- Total assets
- $38,997,207
- Primary geography
- New Jersey (100% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$39.0M
+1.1% YoY
Annual Giving
$2.0M
-2.1% YoY
Grant Count
1
+0.0% YoY
Avg Grant Size
$2.0M
-2.1% YoY
Under IRS private-foundation payout rules, Cleveland Avenue Fund reported a distributable amount of $2.2M for 2024 — the minimum it must pay out in qualifying distributions.
How Cleveland Avenue Fund gives
- Giving grew 140% from 2021 to 2024. Method
- In 2024 it paid out 92% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2024 grant dollars on its one itemized grant.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2024, annual grant giving ranged from $840K (2021) to $2.3M (2022). In 2024 it made 1 grant totaling $2.0M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top recipient in 2024
The largest 2024 recipient was The Bessemer Giving Fund ($2.0M).
Grant Size Distribution
4 grants across all recorded years
The most common grant size was in the $1–5M range: 3 grants of 4 (75%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| The Bessemer Giving Fund Woodbridge, NJ | General support | $2,011,973 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $38,997,207 | $38,585,419 | $40,409,840 |
| Revenue | $2,581,628 | $358,018 | $74,016 |
| Expenses | $2,169,840 | $2,182,439 | $2,457,993 |
| Qualifying Distributions | $2,015,899 | $2,061,143 | $2,338,044 |
| Net Investment Income | $2,447,418 | $535,839 | $506,476 |
| Distributable Amount | $2,202,193 | $2,018,045 | $2,064,490 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Officers and directors from IRS filings
Cleveland Avenue Fund is led by Jane Varner Beard, President since 2022 (on filings since 2020); none of the 4 officers listed in 2024 report compensation.
Officers on the 2024 filing
Jane Varner Beard
President
President → President & Director, 2021
President & Director → President, 2022
On filings since 2020
1 hr/week
No compensation reported
Russell C Beard
Secretary & Treasurer
Vice President & Secretary → Vice President, Secretary & Director, 2021
Vice President, Secretary & Director → Secretary & Treasurer, 2022
On filings since 2020
1 hr/week
No compensation reported
Sterling C Beard
Vice President
Director → Vice President, 2022
On filings since 2021
1 hr/week
No compensation reported
Hudson Beard MD
Vice President
On filings since 2022
1 hr/week
No compensation reported
Former officers (2)
- Former: Mark Layton (2020–2021) — Vice President, Treasurer & Director
- Former: G Hudson Beard (2021) — Director
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Cleveland Avenue Fund
How much does Cleveland Avenue Fund give each year?
Cleveland Avenue Fund gave $2.0M across 1 grant in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $2.1M across 1 grant.
How large is Cleveland Avenue Fund?
Cleveland Avenue Fund reported $39.0M in total assets on its 2024 IRS Form 990-PF. It paid out $2.0M in qualifying distributions that year, against a required minimum of $2.2M (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
Where does Cleveland Avenue Fund operate?
Cleveland Avenue Fund has awarded grants in New Jersey.
What is Cleveland Avenue Fund's EIN?
Cleveland Avenue Fund's EIN (Employer Identification Number) is 83-2871250. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Here's the math on researching Cleveland Avenue Fund by hand.
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