Right Place Foundation
- Assets
- $1.8m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 04/2012
- Data as of
- 12/2023
- EIN
- 27-4012914
Organization Overview
Right Place Foundation is located in Grand Rapids, MI. The organization was established in 2012. According to its NTEE Classification (S11) the organization is classified as: Single Organization Support, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Right Place 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 12/2023, Right Place Foundation generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $1.3m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO LESSEN THE BURDENS OF GOVERNMENT BY PERFORMING ECONOMIC DEVELOPMENT SERVICES FOR KENT COUNTY, FOR THE CITY OF GRAND RAPIDS, AND FOR TOWNSHIPS AND OTHER LOCAL UNITS OF GOVERNMENT IN AND AROUND KENT COUNTY, MICHIGAN, THAT WOULD OTHERWISE PROVIDE SUCH SERVICES THEMSELVES; AND TO SOLICIT, RECEIVE AND ADMINISTER FUNDS EXCLUSIVELY FOR SUCH CHARITABLE PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SUPPORTS ACTIVITIES TO RETAIN, EXPAND AND ATTRACT BUSINESS IN THE GREATER GRAND RAPIDS AREA AT THE RIGHT PLACE INC. THE FOUNDATION RECEIVES CONTRIBUTIONS FROM THE PUBLIC AND PROVIDES GRANTS TO THE RIGHT PLACE INC. AND THE RESEARCH AND TECHNOLOGY INSTITUTE OF WEST MICHIGAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Thelen President | OfficerTrustee | 1 | $0 |
Tina Freese Decker Chair | OfficerTrustee | 1 | $0 |
Bill Pink Vice Chair | OfficerTrustee | 1 | $0 |
Steve Downing Treasurer | OfficerTrustee | 1 | $0 |
Norman J Beauchamp Jr MD Mhs Director | Trustee | 1 | $0 |
Blake W Krueger Director | Trustee | 1 | $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 | $1,749,506 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,749,506 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,749,506 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,331,675 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $1,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $535 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $1,333,210 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,435 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,819,243 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,827,678 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $146,000 |
| Total liabilities | $146,000 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $1,681,678 |
| 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 | $1,827,678 |
Grants Awarded
Over the last fiscal year, Right Place Foundation has awarded $1,626,700 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE RIGHT PLACE INC PURPOSE: PROMOTE AND SUPPORT THE RIGHT PLACE, INC. | $1,526,700 |
RESEARCH AND TECHNOLOGY INSTITUTE OF WEST MICHIGAN PURPOSE: TO SUPPORT BROOKINGS INSTITUTION INCLUSIVE ECONOMIC DEVELOPMENT LEARNING LAB PROJECT | $100,000 |