Frey Foundation
- Assets
- $154.4m
- Revenue
- $8.9m
- Investments
- $144.7m
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 01/1974
- Data as of
- 12/2019
- EIN
- 23-7094777
Organization Overview
Frey Foundation is located in Grand Rapids, MI. The organization was established in 1974. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2019, Frey Foundation generated $8.9m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $7.1m during the year ending 12/2019. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Frey Foundation has awarded 1,664 individual grants totaling $42,055,936. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Holly A Johnson President | 40 | $233,292 | |
Randy A Van Antwerp Chief Financial Offi | 40 | $154,076 | |
Lynnette J Ferrell Program Officer | 40 | $138,106 | |
Teresa J Crawford Grants Manager | 40 | $83,965 | |
Bryana L Hopkins Program Assistant | 40 | $61,409 | |
Mary Frey Bennett Chair | 18 | $46,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Harvest Fund Advisors Llc | 12/30/19 | $284,718 |
Willowridge Partners Inc | 12/30/19 | $153,189 |
Fund Evaluation Group | 12/30/19 | $119,099 |
Rehmann Technologies | 12/30/19 | $34,196 |
Westfield | 12/30/19 | $85,800 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,171 |
| Dividends & Interest | $4,488,712 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,822,631 |
| Capital Gain Net Income | $3,820,618 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $611,493 |
| Total Revenue | $8,924,007 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $416,316 |
| Other employee salaries and wages | $486,345 |
| Pension plans, employee benefits | $200,120 |
| Interest | $5,115 |
| Taxes | $78,947 |
| Depreciation | $7,107 |
| Occupancy | $79,196 |
| Travel, conferences, and meetings | $184,997 |
| Printing and publications | $5,902 |
| Other expenses | $342,531 |
| Total operating and administrative expenses | $2,762,165 |
| Contributions, gifts, grants paid | $4,332,312 |
| Total expenses and disbursements | $7,094,477 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $92 |
| Savings and temporary cash investments | $8,415,950 |
| Net Accounts receivable | $619 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $135,579,970 |
| Net Land, buildings, and equipment | $51,625 |
| Other assets | $1,264,544 |
| Total assets | $154,408,836 |
| Accounts payable and accrued expenses | $138,206 |
| Grants payable | $1,946,048 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,084,254 |
Grants Awarded
Over the last fiscal year, Frey Foundation has awarded $7,653,562 in support to 327 organizations.
| Grant Recipient | Amount |
|---|---|
Grand Rapids, MI PURPOSE: A BROADER VISION CAPITAL CAMPAIGN | $500,000 |
Grand Rapids, MI PURPOSE: TOGETHER WE CAN: NEW LEED CERTIFIED CONSTRUCTION AND EXISTING BUILDING ENHANCEMENTS TO THE NEARLY 60-YEAR-OLD ALBERTUS MAGNUS SCIENCE HALL SERVING CURRENT AND ATTRACTING FUTURE SCIENCE STUDENTS TO AQUINAS COLLEGE. | $500,000 |
Grand Rapids, MI PURPOSE: TOGETHER FOR KIDS CAPITAL CAMPAIGN TO CONSOLIDATE THREE SCATTERED PROGRAM SITES TO A SINGLE LOCATION IN NORTHEAST GRAND RAPIDS. | $350,000 |
Grand Rapids, MI PURPOSE: COMPLETION OF THE PRE-CONSTRUCTION DEVELOPMENT PHASE OF THE 2.2 MILE GRAND RIVER RESTORATION INCLUDING DESIGN, ENGINEERING, PERMIT SUBMISSION, ENVIRONMENTAL REVIEW AND FUND DEVELOPMENT. | $285,000 |
Grand Rapids, MI PURPOSE: COMPLETION OF THE PRE-CONSTRUCTION DEVELOPMENT PHASE OF THE 2.2 MILE GRAND RIVER RESTORATION INCLUDING DESIGN, ENGINEERING, PERMIT SUBMISSION, ENVIRONMENTAL REVIEW AND FUND DEVELOPMENT. | $280,000 |
FREDERIK MEIJER GARDENS & SCULPTURE PARK PURPOSE: WELCOMING THE WORLD: HONORING A LEGACY OF LOVE CAPITAL CAMPAIGN TO EXPAND FACILITIES AND PROGRAM CAPACITY TO ACCOMMODATE SIGNIFICANT GROWTH OF ANNUAL GUEST ATTENDANCE. | $250,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Frey Foundation has recieved totaling -$20,000.
| Awarding Organization | Amount |
|---|---|
Dyer-Ives Foundation Grand Rapids, MI PURPOSE: REIMBURSEMENT | -$20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Charles F Kettering Foundation Dayton, OH | $383,190,815 | $22,309,349 |
The Meijer Foundation Grand Rapids, MI | $158,741,993 | $21,525,422 |
Dean & Barbara White Family Foundation Inc Merrillville, IN | $352,972,612 | $350,312,570 |
Lunda Charitable Fund Inc Black River Falls, WI | $54,780,973 | $2,553,689 |
Fca Foundation Auburn Hills, MI | $0 | $17,251,346 |
Osteopathic Heritage Foundation Columbus, OH | $240,018,107 | $23,845,166 |
Liberty Fund Inc Carmel, IN | $0 | $15,656,558 |
Fred A And Barbara M Erb Family Foundation Royal Oak, MI | $295,394,682 | $13,535,888 |
Timken Foundation Of Canton Canton, OH | $60,577,271 | $6,517,764 |
Herbert H Kohl Charities Inc Milwaukee, WI | $0 | $4,457,488 |
Dekko Foundation Inc Kendallville, IN | $207,220,689 | $19,099,301 |
Joseph And Vera Zilber Charitable Foundation Inc Milwaukee, WI | $222,792,049 | $14,759,051 |