Flagstar Foundation Inc

Organization Overview

Flagstar Foundation Inc is located in Troy, MI. The organization was established in 2017. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Flagstar Foundation Inc 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, Flagstar Foundation Inc generated $406.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (30.2%) each year. All expenses for the organization totaled $3.6m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Since 2019, Flagstar Foundation Inc has awarded 519 individual grants totaling $10,056,139. 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.

Mission & Program ActivityExcerpts From the 990PF Filing

TAX YEAR

2021

Describe the Organization's Program Activity:

Part 3 - Line 4a

N/A


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Financial Statements

Statement of Revenue
Contributions, Gifts, Grants & Similar $403,308
Interest on Savings $3,451
Dividends & Interest $0
Net Rental Income$0
Net Gain on Sale of Assets $0
Capital Gain Net Income $0
Net ST Capital Gain $0
Income Modifications $0
Profit on Inventory Sales $0
Other Income $0
Total Revenue $406,759

Grants Awarded

Over the last fiscal year, Flagstar Foundation Inc has awarded $3,394,924 in support to 127 organizations.

Grant RecipientAmount

STRATEGIC ALLIANCE COMMUNITY DEVELOPMENT CORPORATION

PURPOSE: SEE ATTACHED GENERAL EXPLANATION

$700,000

LOCAL INITIATIVES SUPPORT CORPORATION (LISC) DETROIT PROGRAM

PURPOSE: SEE ATTACHED GENERAL EXPLANATION

$500,000

Detroit, MI

PURPOSE: SEE ATTACHED GENERAL EXPLANATION

$500,000

STRATEGIC ALLIANCE COMMUNITY DEVELOPMENT CORPORATION

PURPOSE: SEE ATTACHED GENERAL EXPLANATION

$300,000

COMMUNITY FOUNDATION FOR SOUTHEAST MICHIGAN

Org PageRecipient Profile

Detroit, MI

PURPOSE: SEE ATTACHED GENERAL EXPLANATION

$100,000

SME EDUCATION FOUNDATION

Org PageRecipient Profile

Southfield, MI

PURPOSE: SEE ATTACHED GENERAL EXPLANATION

$100,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Flagstar Foundation Inc has recieved totaling $1,000.

Awarding OrganizationAmount
Dinello Family Foundation

Naples, FL

PURPOSE: GENERAL SUPPORT

$1,000
View Grant Recipient Profile

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