Community Foundation For Northeast Michigan
- Assets
- $66.3m
- Revenue
- $11.6m
- Investments
- $0.0
- Employees
- 6
- Location
- Alpena, MI
- Founding
- 09/1974
- Data as of
- 09/2021
- EIN
- 23-7384822
Organization Overview
Community Foundation For Northeast Michigan is located in Alpena, MI. The organization was established in 1974. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 09/2021, Community Foundation For Northeast Michigan employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Foundation For Northeast Michigan 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 09/2021, Community Foundation For Northeast Michigan generated $11.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 24.6% each year . All expenses for the organization totaled $2.6m during the year ending 09/2021. While expenses have increased by 5.6% per year over the past 6 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.
Since 2015, Community Foundation For Northeast Michigan has awarded 12 individual grants totaling $6,599,853. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FULFILL THE CHARITABLE GOALS OF OUR DONORS AND ADDRESS THE CURRENT & FUTURE NEEDS OF OUR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING GRANTS TO QUALIFIED RECIPIENTS APPROXIMATELY 900 GRANTS ISSUED DURING FISCAL YEAR
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Heraghty Executive Di | Officer | 45 | $90,381 |
Katie Young-Engstrom Secretary | OfficerTrustee | 1 | $0 |
Deb Kruttlin President | OfficerTrustee | 1 | $0 |
Joyce Mccoy Treasurer | OfficerTrustee | 1 | $0 |
Scott Mclennan Past Preside | OfficerTrustee | 1 | $0 |
Andy Stone Vice Preside | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,015,942 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,015,942 |
| Total Program Service Revenue | $0 |
| Investment income | $4,471,697 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,593,887 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,375,611 |
| Grants and other assistance to domestic individuals. | $475,302 |
| 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 | $388,245 |
| Pension plan accruals and contributions | $10,522 |
| Other employee benefits | $30,775 |
| Payroll taxes | $29,701 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,881 |
| Fees for services: Accounting | $23,845 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $21,685 |
| Office expenses | $59,426 |
| Information technology | $37,541 |
| Royalties | $0 |
| Occupancy | $66,000 |
| Travel | $900 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,791 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,952 |
| Insurance | $5,739 |
| All other expenses | $5,869 |
| Total functional expenses | $2,557,785 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,160,859 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $109,109 |
| Accounts receivable, net | $0 |
| 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 | $6,955 |
| Net Land, buildings, and equipment | $19,473 |
| Investments—publicly traded securities | $65,038,383 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $66,334,779 |
| Accounts payable and accrued expenses | $5,329 |
| Grants payable | $847,791 |
| 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 | $11,124,383 |
| Total liabilities | $11,977,503 |
| Net assets without donor restrictions | $7,052,654 |
| Net assets with donor restrictions | $47,304,622 |
| 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 | $66,334,779 |
Grants Awarded
Over the last fiscal year, Community Foundation For Northeast Michigan has awarded $1,375,611 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SEE ATTACHED - NON HR4 SCH 1 PURPOSE: VARIOUS | $1,369,086 |
SEE ATTACHED - HR4 SCHEDULE 4 PURPOSE: VARIOUS | $6,525 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Community Foundation For Northeast Michigan has recieved totaling $30,013.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $12,610 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: SUPPORT | $11,000 |
Council Of Michigan Foundations Inc Grand Rapids, MI PURPOSE: MCFYP DEVELOPMENT GRANT | $6,198 |
Jp Morgan Chase Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $200 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Endowment Analysis
| Beg. Balance | $37,973,173 |
| Earnings | $8,194,277 |
| Admin Expense | $485,848 |
| Net Contributions | $4,548,509 |
| Other Expense | $388,926 |
| Grants | $1,479,069 |
| Ending Balance | $48,362,115 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Stark Community Foundation Inc Canton, OH | $373,666,840 | $68,744,620 |
Muskegon County Community Foundation Muskegon, MI | $247,862,579 | $28,555,582 |
Community Foundation Of Greater Flint Flint, MI | $212,857,243 | $17,865,297 |
Ann Arbor Area Community Foundation Ann Arbor, MI | $219,428,649 | $31,760,954 |
Community Foundation Of St Joseph County Inc South Bend, IN | $247,009,993 | $29,572,898 |
Fremont Area Community Foundation Fremont, MI | $291,559,908 | $22,142,594 |
Grand Haven Area Community Foundation Inc Grand Haven, MI | $189,481,921 | $23,464,810 |
Oshkosh Area Community Foundation Corporation Oshkosh, WI | $140,509,815 | $17,534,681 |
Community Foundation Of Greater Fort Wayne Inc Fort Wayne, IN | $181,936,459 | $11,602,152 |
Midland Area Community Foundation Midland, MI | $121,202,704 | $11,959,875 |
Community Foundation Of Lorain County Elyria, OH | $163,012,004 | $27,165,624 |
Wayne County Community Foundation Wooster, OH | $110,981,023 | $15,756,594 |