Bay Harbor Foundation
- Assets
- $526.4k
- Revenue
- $61.2k
- Investments
- $343.7k
- Employees
- 1
- Location
- Bay Harbor, MI
- Founding
- 09/2004
- Data as of
- 12/2022
- EIN
- 37-1491024
Organization Overview
Bay Harbor Foundation is located in Bay Harbor, MI. The organization was established in 2004. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bay Harbor 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, Bay Harbor Foundation generated $61.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (16.8%) each year. All expenses for the organization totaled $60.8k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (16.7%) per year over the past 8 years. 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 PROVIDE ASSISTANCE TO NOT FOR PROFIT CULTURAL, SOCIAL SERVICE AND ARTS BASED ORGANIZATIONS IN NORTHERN MICHIGAN GEOGRAPHIC FOCUS AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AWARDED GRANTS TO OTHER NON-PROFIT ORGANIZATIONS TO SUPPORT THEIR EXEMPT PURPOSES.
AWARDED SCHOLARSHIPS TO QUALIFYING STUDENTS TO ATTEND COLLEGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Allen Chairman | OfficerTrustee | 5 | $0 |
Clayton Waldorf Vice Chairman | OfficerTrustee | 5 | $0 |
Rodney Phillips Treasurer | OfficerTrustee | 5 | $0 |
Patricia Laporte Secretary | OfficerTrustee | 5 | $0 |
Candace Fitzsimons Executive Director | Officer | 26 | $0 |
James Ramer 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 | $54,075 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $54,075 |
| Total Program Service Revenue | $0 |
| Investment income | $7,128 |
| 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 | $61,203 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,000 |
| Grants and other assistance to domestic individuals. | $10,500 |
| 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 | $23,569 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,804 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,000 |
| 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 | $11,289 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,128 |
| 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 | $1,860 |
| All other expenses | $635 |
| Total functional expenses | $60,785 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$8 |
| Savings and temporary cash investments | $175,285 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,750 |
| 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 | $732 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $343,671 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $526,430 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $140,240 |
| Net assets with donor restrictions | $386,190 |
| 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 | $526,430 |
Grants Awarded
Over the last fiscal year, Bay Harbor Foundation has awarded $42,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Iron Mountain, MI PURPOSE: DIRECTED DONATION | $20,000 |
Harbor Springs, MI PURPOSE: DIRECTED DONATION | $15,000 |
Harbor Springs, MI PURPOSE: 2021 GRANT AWARD | $7,000 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Bay Harbor Foundation has recieved totaling $23,500.
| Awarding Organization | Amount |
|---|---|
Wisne Charitable Foundation Novi, MI PURPOSE: GENERAL | $20,000 |
Mcfamily Charitable Foundation Clayton, MO PURPOSE: FURTHER ORGANIZATION'S OBJECTIVES | $2,000 |
Bierlein Companies Foundation Midland, MI PURPOSE: GENERAL USE | $1,000 |
William T & Ann D Mccormick Educ And Charitable Foundation Detroit, MI PURPOSE: CHARITABLE | $500 |
Endowment Analysis
| Beg. Balance | $419,091 |
| Earnings | -$75,420 |
| Ending Balance | $343,671 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oshkosh Area Community Foundation Corporation Oshkosh, WI | $140,509,815 | $17,534,681 |
Community Foundation Of Greater Fort Wayne Inc Fort Wayne, IN | $181,936,459 | $11,602,152 |
Midland Area Community Foundation Midland, MI | $121,202,704 | $11,959,875 |
Community Foundation Of Lorain County Elyria, OH | $163,012,004 | $27,165,624 |
Wayne County Community Foundation Wooster, OH | $110,981,023 | $15,756,594 |
Berrien Community Foundation Inc St Joseph, MI | $80,848,791 | $11,315,608 |
Troy Foundation Troy, OH | $148,750,693 | $14,638,954 |
Richland County Foundation Of Mansfield Mansfield, OH | $226,473,727 | $18,165,372 |
Community Foundation Of Southern Indiana Inc New Albany, IN | $128,848,099 | $8,060,969 |
Hamilton Community Foundation Inc Hamilton, OH | $145,905,583 | $25,541,402 |
Waukesha County Community Foundation Inc Waukesha, WI | $76,894,981 | $24,718,378 |
Community Foundation Alliance Inc Evansville, IN | $117,500,760 | $8,724,196 |