Community Foundation Of Elkhart County Inc
- Assets
- $418.1m
- Revenue
- $41.6m
- Investments
- $145.7m
- Employees
- 22
- Location
- Elkhart, IN
- Founding
- 03/1989
- Data as of
- 06/2021
- EIN
- 31-1255886
Organization Overview
Community Foundation Of Elkhart County Inc is located in Elkhart, IN. The organization was established in 1989. 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 06/2021, Community Foundation Of Elkhart County Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Foundation Of Elkhart County 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 06/2021, Community Foundation Of Elkhart County Inc generated $41.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.6% each year . All expenses for the organization totaled $22.1m during the year ending 06/2021. While expenses have increased by 4.6% per year over the past 6 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 2016, Community Foundation Of Elkhart County Inc has awarded 1,391 individual grants totaling $147,505,525. 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 IMPROVE THE QUALITY OF LIFE IN ELKHART COUNTY BY INSPIRING GENEROSITY
Describe the Organization's Program Activity:
THE COMMUNITY FOUNDATION OF ELKHART COUNTY (CFEC) WAS ESTABLISHED IN 1988 TO INSPIRE PEOPLE TO MAKE CHARITABLE GIFTS THAT IMPROVE THE QUALITY OF LIFE IN ELKHART COUNTY. AS A PUBLIC, TAX-EXEMPT PHILANTHROPIC ORGANIZATION, CFEC SOLICITS AND DEVELOPS BOTH ENDOWED AND NON-ENDOWED FUNDS WITH A PRIMARY FOCUS ON BENEFITING LOCAL CHARITIES AND HELPING LOCAL INDIVIDUALS ACHIEVE THEIR CHARITABLE GOALS. GRANTS FROM RESTRICTED FUNDS ARE ISSUED IN ACCORDANCE WITH THE TERMS ESTABLISHED IN THE RESPECTIVE GOVERNING FUND AGREEMENTS. MOST OF THESE GRANTS ARE TO LOCAL TAX-EXEMPT ORGANIZATIONS AND SPAN A WIDE ARRAY OF CHARITABLE CAUSES, INCLUDING ARTS & CULTURE, COMMUNITY DEVELOPMENT, EDUCATION & YOUTH DEVELOPMENT, HEALTH & HUMAN SERVICES, RELIGIOUS INSTITUTIONS, AND SCHOLARSHIPS. CFEC ALSO MAINTAINS A FUND FOR ELKHART COUNTY THAT REPRESENTS UNRESTRICTED DOLLARS. CFEC'S BOARD IS USING THE UNRESTRICTED DOLLARS TO ADVANCE THREE FOCUS AREAS THAT BENEFIT THE COUNTY: CAREER PATHWAYS, KIDS & FAMILY, AND PLACEMAKING. ADDITIONALLY, CFEC SERVES AS THE LOCAL ADMINISTRATOR FOR THE LILLY ENDOWMENT COMMUNITY SCHOLARSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter L Mccown President | Officer | 40 | $185,681 |
Cole Patuzzi CFO | Officer | 40 | $125,624 |
Candace Yoder Employee | 40 | $123,660 | |
Jodi Spataro Employee | 40 | $103,546 | |
Deb Beaverson Secretary | OfficerTrustee | 1 | $0 |
David Findlay Chairperson | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mercer Management Fees | 6/29/21 | $344,725 |
Stifel Management Fees | 6/29/21 | $143,534 |
Keybank Management Fees | 6/29/21 | $126,855 |
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 | $25,730,139 |
| Noncash contributions included in lines 1a–1f | $10,750,645 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,730,139 |
| Total Program Service Revenue | $10,342 |
| Investment income | $7,532,408 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $572 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,345,979 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $41,619,440 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,523,265 |
| Grants and other assistance to domestic individuals. | $1,716,948 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $418,282 |
| Compensation of current officers, directors, key employees. | $218,042 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,055,580 |
| Pension plan accruals and contributions | $48,653 |
| Other employee benefits | $97,479 |
| Payroll taxes | $100,026 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $947 |
| Fees for services: Accounting | $46,184 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $900,530 |
| Fees for services: Other | $24,097 |
| Advertising and promotion | $193,694 |
| Office expenses | $54,378 |
| Information technology | $162,353 |
| Royalties | $0 |
| Occupancy | $118,000 |
| Travel | $21,619 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,491 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $51,097 |
| Insurance | $23,630 |
| All other expenses | $9,396 |
| Total functional expenses | $22,089,808 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36 |
| Savings and temporary cash investments | $10,432,786 |
| Pledges and grants receivable | $0 |
| 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 | $76,521 |
| Net Land, buildings, and equipment | $151,032 |
| Investments—publicly traded securities | $261,107,714 |
| Investments—other securities | $145,662,818 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $718,861 |
| Total assets | $418,149,768 |
| Accounts payable and accrued expenses | $697,042 |
| Grants payable | $5,020,187 |
| Deferred revenue | $3,188 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $39,762,773 |
| 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 | $434,938 |
| Total liabilities | $45,918,128 |
| Net assets without donor restrictions | $4,574,538 |
| Net assets with donor restrictions | $367,657,102 |
| 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 | $418,149,768 |
Grants Awarded
Over the last fiscal year, Community Foundation Of Elkhart County Inc has awarded $16,378,244 in support to 248 organizations.
| Grant Recipient | Amount |
|---|---|
Goshen, IN PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $1,446,496 |
Elkhart, IN PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $786,330 |
Fort Wayne, IN PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $599,179 |
Goshen, IN PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $551,156 |
Goshen, IN PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $500,000 |
South Bend, IN PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $500,000 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Community Foundation Of Elkhart County Inc has recieved totaling $820,708.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $526,328 |
Rex And Alice A Martin Foundation Inc Elkhart, IN PURPOSE: EXEMPT PURPOSE OF ORGANIZATION | $125,500 |
Irions Foundation Inc Elkhart, IN PURPOSE: CHARITABLE | $50,000 |
English-Bonter-Mitchell Foundation Pittsburgh, PA PURPOSE: HEALTH FITNESS AQUATICS | $50,000 |
Welter Foundation Inc Bristol, IN PURPOSE: EXEMPT PURPOSE OF ORGANIZATION | $20,000 |
Raymond James Charitable Endowment Fund St Petersberg, FL PURPOSE: GENERAL SUPPORT | $19,497 |
Endowment Analysis
| Beg. Balance | $275,590,770 |
| Earnings | $88,893,713 |
| Admin Expense | $2,476,644 |
| Net Contributions | $12,442,701 |
| Grants | $10,628,289 |
| Ending Balance | $363,822,251 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Greater Green Bay Community Foundation Inc Green Bay, WI | $158,723,657 | $42,186,646 |
The Community Foundation Of Louisville Inc Louisville, KY | $675,486,716 | $70,628,491 |
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 |
Community Foundation Of The Ozarks Inc Springfield, MO | $393,798,423 | $57,110,719 |
Community Foundation Of Elkhart County Inc Elkhart, IN | $418,149,768 | $41,619,440 |
Blue Grass Community Foundation Inc Lexington, KY | $132,271,880 | $24,051,212 |
The Community Foundatio Of Louisville Depository Inc Louisville, KY | $29,429,716 | $18,203,702 |
Community Foundation Of St Joseph County Inc South Bend, IN | $247,009,993 | $29,572,898 |
St Louis Community Foundation St Louis, MO | $112,098,850 | $20,148,169 |
Dupage Community Foundation Downers Grove, IL | $125,703,251 | $14,295,087 |