Ann Arbor Area Community Foundation
- Assets
- $186.1m
- Revenue
- $23.3m
- Investments
- $76.0m
- Employees
- 17
- Location
- Ann Arbor, MI
- Founding
- 03/1965
- Data as of
- 12/2022
- EIN
- 38-6087967
Organization Overview
Ann Arbor Area Community Foundation is located in Ann Arbor, MI. The organization was established in 1965. 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 12/2022, Ann Arbor Area Community Foundation employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ann Arbor Area Community 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 12/2022, Ann Arbor Area Community Foundation generated $23.3m 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 (10.9%) each year. All expenses for the organization totaled $13.5m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Ann Arbor Area Community Foundation has awarded 902 individual grants totaling $37,097,593. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
AAACF DISTRIBUTES PROCEEDS FROM ITS PERMANENT ENDOWED FUNDS TO WASHTENAW COUNTY CHARITABLE ORGS.
Describe the Organization's Program Activity:
AAACF FULFILLS ITS EXEMPT PURPOSE BY GRANTING FUNDS TO A VARIETY OF TAX-EXEMPT ORGANIZATIONS, PRIMARILY IN THE WASHTENAW COUNTY AREA, THROUGH A COMPETITIVE PROCESS DETERMINED BY STAFF AND COMMUNITY LEADERS. SINCE ITS FOUNDING MORE THAN A HALF CENTURY AGO, OVER $90 MILLION HAS BEEN DISTRIBUTED THROUGH 16,800+ GRANTS AND SCHOLARSHIPS. SIGNATURE PROGRAMS INCLUDE A COMMUNITY SCHOLARSHIP PROGRAM TO INCENTIVIZE COLLEGE DEGREE ATTAINMENT BY LOCAL STUDENTS; THE EMPOWERMENT FUND, WHICH SUPPORTS YOUNG BLACK MEN IN ATTAINING EDUCATIONAL SUCCESS; ADVANCEMENT OF HEALTHY & FULFILLING AGING FOR ALL; A DEEP COMMITMENT TO HEALTH AND HUMAN SERVICES, FUNDING BOTH PROGRAMS AND SYSTEMS CHANGE; AND AN ALLOCATION OF 5% OF OUR ENDOWMENT TO LOCAL IMPACT INVESTMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shannon Polk CEO | Officer | 50 | $196,417 |
James Hunter CFO | Officer | 45 | $128,775 |
Betsy Petoskey Chair | OfficerTrustee | 4 | $0 |
Sean Duval Vice Chair | OfficerTrustee | 4 | $0 |
Laura Hayden Treasurer (begin 4/2022) | OfficerTrustee | 2.5 | $0 |
Michael Staebler Treasurer (thru 4/2022) | OfficerTrustee | 2.5 | $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 | $4,260,327 |
| Noncash contributions included in lines 1a–1f | $468,799 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,260,327 |
| Total Program Service Revenue | $9,850 |
| Investment income | $3,466,089 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $15,545,666 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,281,932 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,114,406 |
| Grants and other assistance to domestic individuals. | $60,123 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $348,815 |
| Compensation of current officers, directors, key employees. | $184,344 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $913,713 |
| Pension plan accruals and contributions | $52,882 |
| Other employee benefits | $74,792 |
| Payroll taxes | $88,483 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,004 |
| Fees for services: Accounting | $78,014 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,909,225 |
| Fees for services: Other | $314,856 |
| Advertising and promotion | $62,653 |
| Office expenses | $38,574 |
| Information technology | $162,860 |
| Royalties | $0 |
| Occupancy | $34,953 |
| Travel | $1,922 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $127,959 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $53,944 |
| Insurance | $16,032 |
| All other expenses | $9,791 |
| Total functional expenses | $13,519,607 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,408,443 |
| Pledges and grants receivable | $735,952 |
| 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 | $977,900 |
| Investments—publicly traded securities | $103,500,835 |
| Investments—other securities | $75,969,385 |
| Investments—program-related | $1,441,000 |
| Intangible assets | $0 |
| Other assets | $1,067,988 |
| Total assets | $186,101,503 |
| Accounts payable and accrued expenses | $81,156 |
| Grants payable | $161,071 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $4,407,096 |
| 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 | $585,644 |
| Total liabilities | $5,234,967 |
| Net assets without donor restrictions | $179,534,594 |
| Net assets with donor restrictions | $1,331,942 |
| 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 | $186,101,503 |
Grants Awarded
Over the last fiscal year, Ann Arbor Area Community Foundation has awarded $8,965,836 in support to 205 organizations.
| Grant Recipient | Amount |
|---|---|
VETERANS CONNECTED PURPOSE: HUMAN SERVICES - OTHER / MUTLIPURPOSE | $1,025,000 |
HUMANE SOCIETY OF HURON VALLEY PURPOSE: ANIMALS | $425,485 |
REGENTS OF THE UNIVERSITY OF MICHIGAN PURPOSE: EDUCATION / HEALTH - PHYSICAL & GENERAL HEALTH CARE / ARTS, CULTURE, HUMANITIES / HUMAN SERVICES - OTHER / MULTIPURPOSE | $345,914 |
UNITED WAY OF WASHTENAW COUNTY PURPOSE: HUMAN SERVICES - OTHER / MUTLIPURPOSE | $238,101 |
ANN ARBOR HANDS ON MUSEUM PURPOSE: EDUCATION / ENVIRONMENT | $206,744 |
COMMUNITY ACTION NETWORK PURPOSE: HUMAN SERVICES - YOUTH DEVELOPMENT | $211,773 |