First Federal Community Foundation
- Assets
- $229.6k
- Revenue
- $33.9k
- Investments
- $195.6k
- Employees
- 0
- Location
- Alpena, MI
- Founding
- 09/2006
- Data as of
- 12/2022
- EIN
- 20-2531733
Organization Overview
First Federal Community Foundation is located in Alpena, MI. The organization was established in 2006. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. First Federal 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, First Federal Community Foundation generated $33.9k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 27.8% each year . All expenses for the organization totaled $109.7k during the year ending 12/2022. While expenses have increased by 24.0% per year over the past 8 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, First Federal Community Foundation has awarded 235 individual grants totaling $534,920. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE LOCAL CHARITABLE PURPOSES INCLUDING GRANTS OR DONATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eileen Budnick Treasurer | 0 | $500 | |
Joseph Gentry Chairman | 0 | $400 | |
Michael Mahler President | 0 | $400 | |
Kathy Brown Secretary | 0 | $300 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $19 |
| Dividends & Interest | $2,078 |
| 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 | $31,814 |
| Total Revenue | $33,911 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,600 |
| Other employee salaries and wages | $400 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,268 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5,770 |
| Total operating and administrative expenses | $9,463 |
| Contributions, gifts, grants paid | $100,199 |
| Total expenses and disbursements | $109,662 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $34,036 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $229,631 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, First Federal Community Foundation has awarded $100,199 in support to 27 organizations.
| Grant Recipient | Amount |
|---|---|
AMA ESD PURPOSE: HANDICAP PLAYGROUND EQUIPMENT | $27,000 |
BESSER MUSEUM FOR NE MICHIGAN PURPOSE: GALLERY REDESIGN PROJECT | $25,000 |
Alpena, MI PURPOSE: SOFTWARE PURCHASE | $5,000 |
ALPENA COUNTY LIBRARY PURPOSE: MAKERSPACE FOR CREATIVITY & EXPLORAT | $5,000 |
Gaylord, MI PURPOSE: NATURE CLEAN UP/TRAILS | $4,000 |
UNITED WAY OF NE MI PURPOSE: DOLLY PARTON IMAGINATION LIBRARY | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lynde And Harry Bradley Foundation Inc Milwaukee, WI | $1,061,478,184 | $82,867,746 |
Herbert H & Grace A Dow Foundation Midland, MI | $575,608,768 | $36,767,282 |
Dte Energy Foundation Detroit, MI | $165,950,300 | $32,183,321 |
Progressive Insurance Foundation Cleveland, OH | $7,804,354 | $47,823,383 |
Highlands Foundation Inc Madison, WI | $16,807,622 | $1,089,528 |
Rockwell Automation Charitable Corporation Milwaukee, WI | $6,137,007 | $10,007,891 |
Third Federal Foundation Cleveland, OH | $35,709,526 | $3,618,702 |
Gii Charities Grand Rapids, MI | $4,065,002 | $6,112,431 |
Westfield Insurance Foundation Westfield Center, OH | $42,931,784 | $4,362,594 |
Morgan Family Foundation Yellow Springs, OH | $51,827,477 | $1,582,241 |
Harry M And Violet Turner Charitable Trust Springfield, OH | $29,217,065 | $2,348,308 |
Penske Foundation Inc Bloomfield Hills, MI | $17,008,099 | $10,243,924 |