Schoolcraft College Foundation
- Assets
- $19.0m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Livonia, MI
- Founding
- 11/1966
- Data as of
- 06/2023
- EIN
- 23-7013727
Organization Overview
Schoolcraft College Foundation is located in Livonia, MI. The organization was established in 1966. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Schoolcraft College Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Schoolcraft College Foundation generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.2% each year . All expenses for the organization totaled $3.0m during the year ending 06/2023. While expenses have increased by 15.1% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE PROGRAMS, PURPOSES AND INITIATIVES OF SCHOOLCRAFT COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS - TO CREATE NEW OR ENHANCE CURRENT EDUCATIONAL PROGRAMS AT SCHOOLCRAFT COLLEGE.
SCHOLARSHIPS - SUPPORT ACADEMIC ACHIEVEMENT AND/OR PROVIDE FOR FINANCIAL NEED
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Glenn Cerny Ex-Officio | Trustee | 1 | $0 |
Dawn Magretta Executive Director | OfficerTrustee | 40 | $0 |
Lois Mcentyre President | OfficerTrustee | 1 | $0 |
Lynn Coburn Vice President | OfficerTrustee | 1 | $0 |
James Fausone Treasurer | OfficerTrustee | 1 | $0 |
Stuart Baker Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $102,685 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,768,426 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,871,111 |
| Total Program Service Revenue | $0 |
| Investment income | $592,467 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $476,757 |
| Net Income from Fundraising Events | -$18,530 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,921,805 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,173,311 |
| Grants and other assistance to domestic individuals. | $506,307 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,775 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $76,732 |
| Fees for services: Other | $24,018 |
| Advertising and promotion | $19,516 |
| Office expenses | $22,087 |
| Information technology | $19,300 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $22,473 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,984,481 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $87,256 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $319,180 |
| Accounts receivable, net | $5,350 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $22,306 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $18,435,487 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $91,875 |
| Total assets | $18,961,454 |
| Accounts payable and accrued expenses | $333,742 |
| Grants payable | $14,167 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $44,386 |
| Total liabilities | $392,295 |
| Net assets without donor restrictions | $2,925,314 |
| Net assets with donor restrictions | $15,643,845 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $18,961,454 |