Frey Foundation
- Assets
- $147.7m
- Revenue
- $1.0m
- Investments
- $141.4m
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 01/1974
- Data as of
- 12/2023
- 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. Frey 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 12/2023, Frey Foundation generated $1.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (22.0%) each year. All expenses for the organization totaled $8.9m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Frey Foundation has awarded 2,773 individual grants totaling $71,066,221. 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 |
|---|---|---|---|
Name Not Listed Treasurer | 10 | $36,000 | |
Name Not Listed Vice Chair | 10 | $41,200 | |
Name Not Listed Chair | 18 | $46,318 | |
Name Not Listed Secretary | 10 | $36,000 | |
Name Not Listed Trustee | 3 | $17,000 | |
Name Not Listed Trustee | 3 | $17,850 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Monticello Associates Inc | 12/30/23 | $200,000 |
Hr Collaborative | 12/30/23 | $71,030 |
Specialized Computer Services | 12/30/23 | $68,755 |
Crowe Llp | 12/30/23 | $64,590 |
Well Design Studio | 12/30/23 | $59,550 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $816 |
| Dividends & Interest | $677,809 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $358,496 |
| Capital Gain Net Income | $1,168,726 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $669 |
| Total Revenue | $1,037,790 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $456,889 |
| Other employee salaries and wages | $527,992 |
| Pension plans, employee benefits | $123,103 |
| Interest | $10,890 |
| Taxes | $136,138 |
| Depreciation | $143,405 |
| Occupancy | $95,207 |
| Travel, conferences, and meetings | $95,694 |
| Printing and publications | $4,974 |
| Other expenses | $228,629 |
| Total operating and administrative expenses | $2,338,942 |
| Contributions, gifts, grants paid | $6,540,691 |
| Total expenses and disbursements | $8,879,633 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $151 |
| Savings and temporary cash investments | $3,588,961 |
| Net Accounts receivable | $10,000 |
| 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 | $64,481 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $141,409,105 |
| Net Land, buildings, and equipment | $505,565 |
| Other assets | $2,108,061 |
| Total assets | $147,686,324 |
| Accounts payable and accrued expenses | $34,771 |
| Grants payable | $2,372,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $378,461 |
| Other liabilities | $666,409 |
| Total liabilities | $3,451,641 |
Grants Awarded
Over the last fiscal year, Frey Foundation has awarded $8,167,941 in support to 245 organizations.
| Grant Recipient | Amount |
|---|---|
ACCESS OF WEST MICHIGAN PURPOSE: MINDSET MEALS-WALK FOR GOOD FOOD | $500 |
ACCESS OF WEST MICHIGAN PURPOSE: FRESH MARKET PROGRAM | $10,000 |
ALACHUA COUNTY PUBLIC SCHOOLS PURPOSE: EASTSIDE HIGH SCHOOL THEATRE DEPARTMENT | $3,000 |
ALACHUA COUNTY PUBLIC SCHOOLS PURPOSE: EASTSIDE HIGH SCHOOL THEATER DEPARTMENT | $5,000 |
ALACHUA COUNTY PUBLIC SCHOOLS PURPOSE: EASTSIDE HIGH SCHOOL - INTERNATIONAL BACCALAUREATE PROGRAMS | $5,000 |
ALACHUA HABITAT FOR HUMANITY PURPOSE: GENERAL SUPPORT | $1,500 |