Jewell Educational Fund
- Assets
- $399.0m
- Revenue
- $19.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Owosso, MI
- Founding
- 06/1991
- Data as of
- 08/2021
- EIN
- 38-2958545
Organization Overview
Jewell Educational Fund is located in Owosso, MI. The organization was established in 1991. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Jewell Educational Fund 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 08/2021, Jewell Educational Fund generated $19.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $9.5m during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (2.2%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Jewell Educational Fund has awarded 68 individual grants totaling $61,636,742. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
JEWELL EDUCATIONAL FUND PROVIDES SUPPORT TO BAKER COLLEGE OR ANY OF ITS SUBSIDIARIES FOR FUNDING THE FOLLOWING: SCHOLARSHIPS FOR ACADEMICALLY QUALIFIED STUDENTS AND STUDENTS WITH DEMONSTRATED FINANCIAL NEED, CAPITAL IMPROVEMENTS, EDUCATIONALLY RELATED PROJECTS OF THE COLLEGE OR SUBSIDIARIES, RESEARCH AND TRAINING BY THE COLLEGE'S FACULTY, PARTICIPATION IN JOINT VENTURES WITH OTHER EDUCATIONAL ORGANIZATIONS AND FOR THE COLLEGE'S COMMUNITY PURPOSES.
Describe the Organization's Program Activity:
JEWELL EDUCATIONAL FUND GAVE FINANCIAL ASSISTANCE TO BAKER COLLEGE ORGANIZATIONS IN ORDER TO PROVIDE TUITION DISCOUNTS TO ELIGIBLE STUDENTS IN THE AMOUNT OF $8,910,042 TO 4,159 STUDENTS OF BAKER COLLEGE ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Moore Treasurer/controller | OfficerTrustee | 1 | $0 |
F James Cummins Board Of Regents/chairman/secretary/trustee | OfficerTrustee | 1 | $0 |
Susan Ebeling Trustee/board Of Regents | Trustee | 1 | $0 |
Paul Schluckebier Board Of Regents | Trustee | 1 | $0 |
Bart Daig Board Of Regents/president/trustee | Trustee | 1 | $0 |
James Martin Board Of Regents | Trustee | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $6,914,521 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,067,870 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,985,075 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,910,042 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $605,902 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $9,515,944 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $14,714,188 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $384,279,713 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $398,993,901 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $9,276,770 |
| Total liabilities | $9,276,770 |
| Net assets without donor restrictions | $389,606,117 |
| Net assets with donor restrictions | $111,014 |
| 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 | $398,993,901 |
Grants Awarded
Over the last fiscal year, Jewell Educational Fund has awarded $8,910,042 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Flint, MI PURPOSE: OPERATIONS/SCHOLARSHIPS | $5,311,792 |
Flint, MI PURPOSE: OPERATIONS/SCHOLARSHIPS | $1,013,968 |
Flint, MI PURPOSE: OPERATIONS/SCHOLARSHIPS | $958,772 |
Flint, MI PURPOSE: OPERATIONS/SCHOLARSHIPS | $641,348 |
Flint, MI PURPOSE: OPERATIONS/SCHOLARSHIPS | $439,733 |
Flint, MI PURPOSE: OPERATIONS/SCHOLARSHIPS | $360,314 |
Endowment Analysis
| Beg. Balance | $90,735 |
| Earnings | $18,966 |
| Ending Balance | $109,701 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
College Now Greater Cleveland Inc Cleveland, OH | $24,271,314 | $18,465,003 |
Knowledgeworks Foundation Cincinnati, OH | $34,010,195 | $7,717,304 |
Ruth Mott Foundation Flint, MI | $290,091,185 | $30,117,543 |
Jewell Educational Fund Owosso, MI | $398,993,901 | $18,985,075 |
Pleasant T Rowland Foundation Brookfield, WI | $94,312,384 | $11,804,849 |
Perkins Malo Hunter Foundation Holland, MI | $51,295,166 | -$331,905 |
Thompson Foundation Plymouth, MI | $5,518,000 | $2,844,461 |
The Endowment Fund Of The Phi Kappa Psi Fraternity Indianapolis, IN | $26,119,752 | $5,253,152 |
Beta Theta Pi Foundation Oxford, OH | $33,085,697 | $6,703,723 |
Sc Johnson Giving Inc Racine, WI | $34,098,989 | $19,343,102 |
Cardinal Health Foundation Dublin, OH | $40,394,329 | $2,713,784 |
Herb Kohl Educational Foundation Inc Milwaukee, WI | $133,385 | $3,506,418 |