Greater Cedar Rapids Community Foundation
- Assets
- $223.4m
- Revenue
- $26.5m
- Investments
- $39.6m
- Employees
- 22
- Location
- Cedar Rapids, IA
- Founding
- 10/1952
- Data as of
- 12/2021
- EIN
- 42-6053860
Organization Overview
Greater Cedar Rapids Community Foundation is located in Cedar Rapids, IA. The organization was established in 1952. 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 12/2021, Greater Cedar Rapids Community Foundation employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Cedar Rapids 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 12/2021, Greater Cedar Rapids Community Foundation generated $26.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $14.8m during the year ending 12/2021. While expenses have increased by 6.7% 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 2014, Greater Cedar Rapids Community Foundation has awarded 1,302 individual grants totaling $62,100,620. 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
TO STRENGTHEN OUR COMMUNITY THROUGH PHILANTHROPY.
Describe the Organization's Program Activity:
THE GREATER CEDAR RAPIDS COMMUNITY FOUNDATION INVESTS IN THE FUTURE OF LINN COUNTY, IOWA BY WORKING WITH DONORS AND PROVIDING GRANTS AND SUPPORT TO NONPROFITS. ACHIEVING HIGH-IMPACT PHILANTHROPY: WHEN INDIVIDUALS, FAMILIES, BUSINESSES AND NONPROFITS INVEST IN CHARITABLE FUNDS AT THE COMMUNITY FOUNDATION, THOSE GIFTS CREATE LEGACIES AND BENEFIT THE COMMUNITY FOREVER. THE COMMUNITY FOUNDATION PROVIDES THE HIGHEST POSSIBLE LEVEL OF PHILANTHROPIC SERVICES INCLUDING EXPERT ADVICE, PROFESSIONAL FUND MANAGEMENT, MAXIMUM TAX SAVINGS, AND COMMUNITY KNOWLEDGE OF HUNDREDS OF LOCAL NONPROFIT ORGANIZATIONS. IN 2021, OVER $20 MILLION WAS RECEIVED IN CONTRIBUTIONS.
CREATING A VIBRANT AND INCLUSIVE FUTURE: FOR MORE THAN 70 YEARS, THE COMMUNITY FOUNDATION HAS BEEN WORKING CLOSELY WITH DONORS, LOCAL LEADERS, AND HUNDREDS OF NONPROFIT ORGANIZATIONS AS A FUNDER AND CONVENER TO DEVELOP AND IMPLEMENT BETTER SOLUTIONS FOR THE FUTURE. BY LEVERAGING ITS RESOURCES AND BUILDING RELATIONSHIPS WITH OTHERS, THE COMMUNITY FOUNDATION ACTS AS A CATALYST FOR CHANGE BY WORKING ON ISSUES OF BROAD COMMUNITY IMPORTANCE SO EVERYONE IN LINN COUNTY HAS OPPORTUNITIES TO ACHIEVE THEIR FULL POTENTIAL.
STRENGTHENING NONPROFITS: THE COMMUNITY FOUNDATION'S GRANT PROGRAMS INVEST IN INNOVATION, SUSTAINABILITY AND CAPACITY-BUILDING IN NONPROFIT ORGANIZATIONS. IN 2021, $12.6 MILLION WAS DISTRIBUTED IN GRANTS AND SCHOLARSHIPS. IN ADDITION TO GRANTMAKING, THE NONPROFIT NETWORK PROVIDES A POINT OF CONNECTION FOR LOCAL NONPROFIT ORGANIZATIONS AND PROFESSIONALS, CONCENTRATING ON THREE AREAS: PEER ENGAGEMENT, LEARNING OPPORTUNITIES AND INFORMATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leslie H Garner Jr President & CEO | Officer | 40 | $222,286 |
Michelle Beisker VP Of Development | 40 | $134,557 | |
Jean Brenneman CFO | Officer | 40 | $130,953 |
Karla Twedt-Ball Senior VP Of Programs | 40 | $130,063 | |
Corinne Ramler VP Of Communications | 40 | $101,824 | |
Okpara Rice Vice-Chair/chair-Elect | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rw Baird Investment Consulting | 12/30/21 | $176,933 |
Fund Evaluation Group Investment Consulting | 12/30/21 | $165,825 |
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 | $15,741,697 |
| Noncash contributions included in lines 1a–1f | $4,054,227 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,741,697 |
| Total Program Service Revenue | $0 |
| Investment income | $4,506,660 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $25,458 |
| Net Gain/Loss on Asset Sales | $6,208,169 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,493,454 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,375,555 |
| Grants and other assistance to domestic individuals. | $21,730 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $894,738 |
| Compensation of current officers, directors, key employees. | $292,055 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $874,195 |
| Pension plan accruals and contributions | $66,635 |
| Other employee benefits | $104,750 |
| Payroll taxes | $116,515 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $595 |
| Fees for services: Accounting | $51,220 |
| Fees for services: Lobbying | $7,496 |
| Fees for services: Fundraising | $502 |
| Fees for services: Investment Management | $370,447 |
| Fees for services: Other | $120,342 |
| Advertising and promotion | $55,107 |
| Office expenses | $40,793 |
| Information technology | $155,350 |
| Royalties | $0 |
| Occupancy | $118,426 |
| Travel | $5,374 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $34,604 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $66,919 |
| Insurance | $16,386 |
| All other expenses | $21,752 |
| Total functional expenses | $14,823,385 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $10,016,801 |
| Pledges and grants receivable | $423,715 |
| 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 | $20,422 |
| Net Land, buildings, and equipment | $1,416,861 |
| Investments—publicly traded securities | $167,054,027 |
| Investments—other securities | $39,581,975 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,854,551 |
| Total assets | $223,368,352 |
| Accounts payable and accrued expenses | $178,066 |
| Grants payable | $648,713 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $45,611,188 |
| 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 | $1,175,199 |
| Total liabilities | $47,613,166 |
| Net assets without donor restrictions | $168,946,179 |
| Net assets with donor restrictions | $6,809,007 |
| 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 | $223,368,352 |
Grants Awarded
Over the last fiscal year, Greater Cedar Rapids Community Foundation has awarded $10,906,104 in support to 170 organizations.
| Grant Recipient | Amount |
|---|---|
Cedar Rapids, IA PURPOSE: FAMILY CAREGIVER CENTER, GENERAL SUPPORT, ANNUAL DESIGNATED DISTRIBUTION FOR THE MERCY CANCER CENTER, DENNIS AND DONNA OLDORF HOSPICE HOUSE, PROGRAM SUPPORT FOR FAMILY CAREGIVERS, GENERAL SUPPORT FOR HOSPICE OF MERCY, 2021 ESPECIALLY FOR YOU RACE, PROGRAM SUPPORT FOR HALLMAR VILLAGE (TO BE USED TOWARD THE PURCHASE OF CLARINOVA), FAMILY CAREGIVERS CENTER OF MERCY, CAPITAL CAMPAIGN CONTRIBUTION, HALLMAR VILLAGE, HALLMAR VILLAGE & INNOVATION CENTER AGING/DEMENTIA, FOR THE CREATION AND FORMATION OF THE CHRIS AND SUZY DEWOLF FAMILY INNOVATION CENTER FOR AGING & DEMENTIA | $1,183,233 |
Cedar Rapids, IA PURPOSE: PATCH PROGRAM REVOLVING LOAN FUND | $760,000 |
CITY OF CEDAR RAPIDS PURPOSE: ANNUAL DESIGNATED DISTRIBUTION FOR AMPHITHEATRE MAINTENANCE, ANNUAL DESIGNATED DISTRIBUTION, ANNUAL DESIGNATED DISTRIBUTION FOR THE WILLIAM MARTIN KACENA AND LIBBY MARTINEK KACENA MEMORIAL FUND, ANNUAL DESIGNATED DISTRIBUTION FOR OLD MCDONALD'S FARM, ANNUAL DESIGNATED DISTRIBUTION, IMPACTING YOUTH THROUGH ROLLING REC MOBILE, ICE ARENA SCOREBOARD PROJECT | $503,129 |
Cedar Rapids, IA PURPOSE: ANNUAL DESIGNATED DISTRIBUTION FOR THE CULTIVATE HOPE PROGRAM, GENERAL SUPPORT, ANNUAL DESIGNATED DISTRIBUTION, PATCH PROGRAM, HEALTHY TIME CHECK, HEALTHY NEIGHBORHOODS CAMPAIGN, CULTIVATE HOPE CORNER STORE, MATTHEW 25 STRATEGIC PLAN, GROUNDSWELL CAF, CAPITAL CAMPAIGN, PATCH PROGRAM HOUSING REPAIR | $369,203 |
Cedar Rapids, IA PURPOSE: ANNUAL DESIGNATED DISTRIBUTION FOR GENERAL FUND, ANNUAL DESIGNATED DISTRIBUTION, GLIDDEN COMMUNITY SERVICE SCHOLARSHIP, KALOUS OPPORTUNITY SCHOLARSHIP, GENERAL FUND | $287,550 |
Cedar Rapids, IA PURPOSE: GENERAL SUPPORT, ANNUAL DESIGNATED DISTRIBUTION, AREA OF MOST NEED, CAPITAL CAMPAIGN, UWECI'S ANNUAL CAMPAIGN, UWECI WEBSITE REDESIGN GRANT REQUEST | $274,395 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Greater Cedar Rapids Community Foundation has recieved totaling $2,000.
| Awarding Organization | Amount |
|---|---|
David C Neuhaus Family Foundation Fairfax, IA PURPOSE: GENERAL OPERATING BUDGET | $1,000 |
Tronvold Foundation Lakewood Ranch, FL PURPOSE: UNRESTRICTED | $1,000 |
Endowment Analysis
| Beg. Balance | $135,266,580 |
| Earnings | $17,220,841 |
| Admin Expense | $1,919,081 |
| Net Contributions | $8,704,076 |
| Other Expense | $1,596,505 |
| Grants | $3,157,762 |
| Ending Balance | $154,518,149 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Greater Green Bay Community Foundation Inc Green Bay, WI | $158,723,657 | $42,186,646 |
Omaha Community Foundation Donor Directed Depository Omaha, NE | $49,176,399 | $38,155,808 |
Nebraska Community Foundation Lincoln, NE | $227,749,373 | $20,781,363 |
Community Foundation For The Fox Valley Region Inc Appleton, WI | $500,269,949 | $60,999,391 |
Madison Community Foundation Madison, WI | $285,628,719 | $40,248,600 |
Elks National Foundation Inc Chicago, IL | $936,472,552 | $62,047,958 |
Sioux Falls Area Community Foundation Inc Sioux Falls, SD | $264,068,911 | $59,923,672 |
Lincoln Community Foundation Inc Lincoln, NE | $161,472,860 | $29,470,305 |
Community Foundation Of The Ozarks Inc Springfield, MO | $393,798,423 | $57,110,719 |
Catholic Community Foundation Of Minnesota St Paul, MN | $510,001,439 | $72,097,381 |
Communitygiving St Cloud, MN | $193,103,222 | $46,523,540 |
Quad Cities Community Foundation Bettendorf, IA | $165,771,747 | $15,098,956 |