Grand Rapids Community Foundation
- Assets
- $426.0m
- Revenue
- $49.2m
- Investments
- $79.4m
- Employees
- 34
- Location
- Grand Rapids, MI
- Founding
- 08/1989
- Data as of
- 06/2021
- EIN
- 38-2877959
Organization Overview
Grand Rapids Community Foundation, operating under the name The Grand Rapids Foundation, is located in Grand Rapids, MI. The organization was established in 1989. 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 06/2022, Grand Rapids Foundation employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grand Rapids 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 06/2021, Grand Rapids Foundation generated $49.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.9% each year . All expenses for the organization totaled $25.2m during the year ending 06/2021. While expenses have increased by 3.8% per year over the past 7 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, Grand Rapids Foundation has awarded 2,065 individual grants totaling $96,955,273. 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 BUILD THE CAPACITY OF THE NONPROFIT SECTOR, THE COMMUNITY FOUNDATION INVESTS IN INNOVATIVE MODELS, PROVEN PROGRAMS, POLICY AND ADVOCACY EFFORTS THROUGHOUT KENT COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS AND SCHOLARSHIPS 1) RENDE PROGRESS CAPITAL - TO CONTINUE RELIEF LENDING EFFORTS FOR EXCLUDED ENTREPRENEURS OF COLOR NEGATIVELY IMPACTED BY COVID-19. $331,250 GRANT.2) BLACK IMPACT COLLABORATIVE - TO PROVIDE TECHNOLOGY AND TRAINING AS WELL AS END-OF-LIFE AND ESTATE PLANNING FOR BLACK ELDERS. $318,300 GRANT.3) GRAND RAPIDS PRIDE CENTER - SUPPORT FOR THE THERAPY ASSISTANCE FUND, IMPLEMENTATION OF LISTENING SESSIONS TO DEVELOP STRATEGIC GOALS AND INCREASING STAFF CAPACITY. $300,000 GRANT.
CHARITABLE AND PHILANTHROPICOPERATING EXPENSES ASSOCIATED WITH PROCESSING THE FOUNDATION'S GRANT APPLICATIONS, COMMUNITY LEADERSHIP ACTIVITIES AND PHILANTHROPIC SERVICES TO THE NON-PROFIT FIELD.
COMMUNITY INITIATIVES AND PROGRAM EXPENSESTHOSE EXPENSES THAT COVER ACTIVITIES THAT COULD BE CARRIED OUT BY A GRANTEE, BUT THAT THE FOUNDATION CHOOSES TO CONDUCT AS A PROGRAM WITH ITS OWN OR OTHERS' RESOURCES. CURRENTLY, THESE INITIATIVES ARE FOCUSED ON K-12 EDUCATION IN THE CITY OF GRAND RAPIDS. THESE ARE EXPENSES FOR SERVICES OR PROGRAM MATERIALS THAT ARE PAID TO PERSONS/ORGANIZATIONS THAT ARE NOT NOT-FOR-PROFITS. THESE INCLUDE ITEMS SUCH AS CONSULTING FEES FOR A PROJECT OR GENERAL OPERATING EXPENSES OF A FUND.
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 |
|---|---|---|---|
Diana Sieger President | Officer | 50 | $290,892 |
Stan Vander Roest Cfo/treasurer | Officer | 40 | $173,359 |
Marilyn Zack Vice President | Officer | 40 | $160,257 |
Kate Luckert Schmid Vice President | Officer | 40 | $145,035 |
Ashley Lee Vice President | Officer | 40 | $121,099 |
Christine Kutzli Challenge Scholars Director | 40 | $113,497 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
New England Pension Consultants Investment Advisors | 6/29/22 | $310,838 |
Hbk Capital Management Investment Managers | 6/29/22 | $216,567 |
Brown Capital Management Investment Managers | 6/29/22 | $210,461 |
Silchester International Inv Investment Managers | 6/29/22 | $196,648 |
City Of London Investment Group Investment Managers | 6/29/22 | $183,388 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,160,187 |
| Investment income | $6,157,324 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $26,528,967 |
| Net Income from Fundraising Events | $1,148 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $49,247,168 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $1,124,950 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,101,873 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,387,434 |
| Pension plan accruals and contributions | $131,209 |
| Other employee benefits | $393,253 |
| Payroll taxes | $183,147 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,866 |
| Fees for services: Accounting | $46,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $31,000 |
| Fees for services: Investment Management | $1,473,982 |
| Fees for services: Other | $51,436 |
| Advertising and promotion | $0 |
| Office expenses | $154,472 |
| Information technology | $40,246 |
| Royalties | $0 |
| Occupancy | $115,309 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,666 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $122,732 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $25,153,650 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $21,262,731 |
| Pledges and grants receivable | $5,955,253 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,760,259 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $133,841 |
| Investments—publicly traded securities | $306,656,584 |
| Investments—other securities | $79,357,359 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,648,708 |
| Total assets | $425,971,455 |
| Accounts payable and accrued expenses | $87,513 |
| Grants payable | $6,112,486 |
| 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 | $1,663,548 |
| Total liabilities | $7,863,547 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $418,107,908 |
Grants Awarded
Over the last fiscal year, Grand Rapids Community Foundation has awarded $14,121,785 in support to 301 organizations.
| Grant Recipient | Amount |
|---|---|
Grand Rapids, MI PURPOSE: GENERAL OPERATING SUPPORT | $516,000 |
Grand Rapids, MI PURPOSE: GENERAL OPERATING SUPPORT | $354,500 |
Big Rapids, MI PURPOSE: GENERAL OPERATING SUPPORT | $350,000 |
Grand Rapids, MI PURPOSE: GENERAL OPERATING SUPPORT | $333,075 |
East Lansing, MI PURPOSE: RACE4PROGRESS 2.0 FUND | $331,250 |
Grand Rapids, MI PURPOSE: GENERAL OPERATING SUPPORT | $326,600 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Grand Rapids Community Foundation has recieved totaling $70,000.
| Awarding Organization | Amount |
|---|---|
Simon And Mary Vanderkooy Foundation Grand Rapids, MI PURPOSE: CONTRIBUTION | $70,000 |
Endowment Analysis
| Beg. Balance | $340,857,178 |
| Earnings | -$34,195,219 |
| Other Expense | -$409,164 |
| Grants | $3,676,717 |
| Ending Balance | $303,394,406 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Foundation For Southeast Michigan Detroit, MI | $1,124,768,291 | $250,946,101 |
Greater Milwaukee Foundation Inc Milwaukee, WI | $1,114,706,959 | $151,763,598 |
Thrivent Charitable Impact & Investing Appleton, WI | $809,708,853 | $138,812,775 |
Central Indiana Community Foundation Inc Indianapolis, IN | $548,109,976 | $56,175,018 |
Greater Green Bay Community Foundation Inc Green Bay, WI | $158,723,657 | $42,186,646 |
Community Foundation For The Fox Valley Region Inc Appleton, WI | $500,269,949 | $60,999,391 |
Dayton Foundation Dayton, OH | $614,105,736 | $82,530,515 |
Madison Community Foundation Madison, WI | $285,628,719 | $40,248,600 |
Battle Creek Community Foundation Battle Creek, MI | $135,380,333 | $32,635,612 |
Kalamazoo Community Foundation Kalamazoo, MI | $677,092,659 | $78,067,850 |
Grand Rapids Community Foundation Grand Rapids, MI | $425,971,455 | $49,247,168 |
Akron Community Foundation Akron, OH | $274,088,705 | $39,277,326 |