Schoolcraft College Foundation
- Assets
- $18.1m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Livonia, MI
- Founding
- 11/1966
- Data as of
- 06/2022
- EIN
- 23-7013727
Organization Overview
Schoolcraft College Foundation is located in Livonia, MI. The organization was established in 1966. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, 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. Schoolcraft College 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 06/2022, Schoolcraft College Foundation generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.5% each year . All expenses for the organization totaled $744.7k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE PROGRAMS, PURPOSES AND INITIATIVES OF SCHOOLCRAFT COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS - TO CREATE NEW OR ENHANCE CURRENT EDUCATIONAL PROGRAMS AT SCHOOLCRAFT COLLEGE
SCHOLARSHIPS - SUPPORT ACADEMIC ACHIEVEMENT AND/OR PROVIDE FOR FINANCIAL NEED
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dawn Magretta Executive Director | OfficerTrustee | 1 | $0 |
Lois Mcentyre President | OfficerTrustee | 1 | $0 |
Lynn Coburn Vice President | OfficerTrustee | 1 | $0 |
Ryan Jenner Past President | OfficerTrustee | 1 | $0 |
James Fausone Treasurer | OfficerTrustee | 1 | $0 |
Stuart Baker Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $91,034 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $878,003 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $969,037 |
| Total Program Service Revenue | $0 |
| Investment income | $671,923 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $362,727 |
| Net Income from Fundraising Events | -$24,960 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,978,727 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $203,020 |
| Grants and other assistance to domestic individuals. | $308,146 |
| 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 | $12,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $79,592 |
| Fees for services: Other | $28,183 |
| Advertising and promotion | $36,435 |
| Office expenses | $18,138 |
| Information technology | $24,819 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $9,204 |
| 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 | $744,740 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $254,875 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $129,900 |
| 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 | $15,518 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $17,651,265 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $89,881 |
| Total assets | $18,141,439 |
| Accounts payable and accrued expenses | $235,289 |
| Grants payable | $23,768 |
| 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 | $49,786 |
| Total liabilities | $308,843 |
| Net assets without donor restrictions | $4,428,102 |
| Net assets with donor restrictions | $13,404,494 |
| 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 | $18,141,439 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Schoolcraft College Foundation has recieved totaling $147,987.
| Awarding Organization | Amount |
|---|---|
Raymond James Charitable Endowment Fund St Petersberg, FL PURPOSE: GENERAL SUPPORT | $42,200 |
Bosch Community Fund Farmington Hills, MI PURPOSE: EXPANSION OF KIDS ON CAMPUS PROGRAM | $40,000 |
Community Foundation For Southeast Michigan Detroit, MI PURPOSE: THE JACK DEMMER AUTOMOTIVE GROUP ENDOWED SCHOLARSHIP FUND | $30,000 |
United Charitable Ashburn, VA PURPOSE: 2021-2022 DEI STARS PROGRAM SUPPORT - YEAR 2 | $26,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $9,700 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $87 |
Endowment Analysis
| Beg. Balance | $13,282,934 |
| Earnings | -$1,520,244 |
| Net Contributions | $414,276 |
| Grants | $363,144 |
| Ending Balance | $11,813,822 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wittenberg College Board Of Directors Springfield, OH | $198,135,859 | $89,178,248 |
University Of Mount Union Alliance, OH | $316,310,745 | $109,042,625 |
Adrian College Adrian, MI | $148,979,647 | $94,047,786 |
Alma College Alma, MI | $267,015,717 | $86,854,101 |
College For Creative Studies Detroit, MI | $255,607,237 | $81,212,922 |
Beloit College Beloit, WI | $210,386,491 | $86,166,985 |
Wabash College Crawfordsville, IN | $537,122,152 | $89,745,763 |
Earlham College Richmond, IN | $378,034,692 | $128,405,386 |
Hanover College Trustees Hanover, IN | $246,034,374 | $66,713,330 |
Marietta College Marietta, OH | $223,346,579 | $73,965,270 |
Antioch University Yellow Springs, OH | $60,461,565 | $73,162,178 |
University Of Saint Francis Of Fort Wayne Indiana Inc Fort Wayne, IN | $133,868,306 | $78,578,588 |