Fremont Area Community Foundation
- Assets
- $291.6m
- Revenue
- $22.1m
- Investments
- $278.9m
- Employees
- 25
- Location
- Fremont, MI
- Founding
- 06/1957
- Data as of
- 12/2021
- EIN
- 38-1443367
Organization Overview
Fremont Area Community Foundation is located in Fremont, MI. The organization was established in 1957. 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 12/2021, Fremont Area Community Foundation employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fremont Area 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 12/2021, Fremont Area Community Foundation generated $22.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $11.3m during the year ending 12/2021. While expenses have increased by 1.8% per year over the past 7 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 2014, Fremont Area Community Foundation has awarded 1,019 individual grants totaling $67,913,489. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE PHILANTHROPY THROUGH GRANTS TO NONPROFIT ORGANIZATIONS PROVIDING CHARITABLE SERVICES THAT BENEFIT THE PEOPLE OF NEWAYGO COUNTY AND THE SURROUNDING AREA OF WESTERN MICHIGAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY RESPONSIVE GRANTMAKING: ADMINISTERING AND DISTRIBUTING FUNDS RECEIVED EXCLUSIVELY FOR CHARITABLE PURPOSES THROUGH GRANTS TO NONPROFIT ORGANIZATIONS THAT PROVIDE SERVICES FOR THE BENEFIT OF THE PEOPLE OF NEWAYGO COUNTY, MICHIGAN AND THE SURROUNDING AREA OF WESTERN MICHIGAN. CATEGORIES OF FUNDING INCLUDE CHARITABLE PURPOSES ACROSS MANY SECTORS, INCLUDING BUT NOT LIMITED TO HEALTH, EDUCATION, COMMUNITY DEVELOPMENT, AND SERVICES TO VULNERABLE POPULATIONS.
EDUCATION: TO INCREASE PROPORTION OF RESIDENTS WITH COLLEGE, CREDENTIALS, OR CERTIFICATIONS TO 60% BY THE YEAR 2025 IN NEWAYGO COUNTY, MICHIGAN. INCLUDES THE ADMINISTRATION AND DISTRIBUTION OF FUNDS FOR CHARITABLE PURPOSES THROUGH GRANTS TO NONPROFIT ORGANIZATIONS THAT PROVIDE EDUCATIONAL SERVICES. CATEGORIES OF FUNDING INCLUDE KINDERGARTEN READINESS, STEAM, LITERACY, REMEDIATION AND ACTIVITIES THAT CREATE A POSITIVE COLLEGE AND CAREER-ORIENTED CULTURE. ALSO INCLUDES SCHOLARSHIPS TO EDUCATIONAL INSTITUTIONS SERVING RESIDENTS OF NEWAYGO COUNTY, MICHIGAN AND THE SURROUNDING AREA OF WESTERN MICHIGAN.
POVERTY TO PROSPERITY: TO REDUCE POVERTY TO AT OR BELOW THE NATIONAL AVERAGE IN NEWAYGO COUNTY, MICHIGAN. INCLUDES THE ADMINISTRATION AND DISTRIBUTION OF FUNDS FOR CHARITABLE PURPOSES THROUGH GRANTS TO NONPROFIT ORGANIZATIONS THAT PROVIDE PROGRAMS IN SELF-SUFFICIENCY, ASSET DEVELOPMENT AND SOCIAL CAPITAL/EMPOWERMENT OF INDIVIDUALS.
COMMUNITY & ECONOMIC DEVELOPMENT: TO REDUCE AND MAINTAIN THE UNEMPLOYMENT RATE BELOW THE NATIONAL AVERAGE WHILE PRESERVING OUR RURAL CHARACTER IN NEWAYGO COUNTY, MICHIGAN AND THE SURROUNDING AREA OF WESTERN MICHIGAN. INCLUDES THE ADMINISTRATION AND DISTRIBUTION OF FUNDS FOR CHARITABLE PURPOSES THROUGH GRANTS TO NONPROFIT ORGANIZATIONS THAT PROVIDE WORKFORCE, SMALL BUSINESS AND ENTREPRENEURSHIP DEVELOPMENT DESIGNED TO HIRE UNEMPLOYED AND UNDEREMPLOYED RESIDENTS OF NEWAYGO COUNTY, MICHIGAN; INCREASE CAPACTIY OF LOCAL COMMUNITY AND ECONOMIC DEVELOPMENT PARTNERS; NATURAL RESOURCES PRMOTION AND UTILIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $228,600 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,204,580 |
| Noncash contributions included in lines 1a–1f | $524,549 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,433,180 |
| Total Program Service Revenue | $204,749 |
| Investment income | $12,461,560 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $51 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,041,540 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,142,594 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,414,452 |
| Grants and other assistance to domestic individuals. | $597,707 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $295,689 |
| Compensation of current officers, directors, key employees. | $236,551 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,224,428 |
| Pension plan accruals and contributions | $108,138 |
| Other employee benefits | $257,642 |
| Payroll taxes | $104,866 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,712 |
| Fees for services: Accounting | $25,545 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $196,482 |
| Fees for services: Other | $157,467 |
| Advertising and promotion | $7,778 |
| Office expenses | $100,758 |
| Information technology | $104,622 |
| Royalties | $0 |
| Occupancy | $108,611 |
| Travel | $5,991 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,563 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $94,235 |
| Insurance | $12,903 |
| All other expenses | $106,950 |
| Total functional expenses | $11,267,074 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $457,360 |
| Savings and temporary cash investments | $5,995,630 |
| Pledges and grants receivable | $4,012,774 |
| 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 | $38,896 |
| Net Land, buildings, and equipment | $1,064,813 |
| Investments—publicly traded securities | $45,504 |
| Investments—other securities | $278,947,756 |
| Investments—program-related | $850,493 |
| Intangible assets | $0 |
| Other assets | $146,682 |
| Total assets | $291,559,908 |
| Accounts payable and accrued expenses | $550,152 |
| Grants payable | $5,206,310 |
| 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 | $433,515 |
| Total liabilities | $6,189,977 |
| Net assets without donor restrictions | $283,084,980 |
| Net assets with donor restrictions | $2,284,951 |
| 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 | $291,559,908 |
Grants Awarded
Over the last fiscal year, Fremont Area Community Foundation has awarded $7,824,657 in support to 101 organizations.
| Grant Recipient | Amount |
|---|---|
Fremont, MI PURPOSE: Children's Services; Circles 2022; Food Distribution in Newaygo County; General Operating and Program Support; Housing and Family Services ; Hunger Prevention Programs; LiveWell Mental Health Resources Campaign; Parks in Focus; Scholarship Program 2022; SpeakUP 2.0 (2022/2023 School Year); STEAMing Up Summer 2022; TrueBlue Academy - White Cloud; Volunteer Management Project; Volunteer Resource Center 2022 | $1,106,935 |
NEWAYGO COUNTY REGIONAL EDUCATIONAL SERVICE AGENCY PURPOSE: 2021 Filling the Early Childhood Gap; 2021 Parents as Teachers; 2022 Summer Enrichment; 2022 Summer Internship Program; Classroom Store; College for Kids 2022; Community Outreach Learning Program 2021-2022; Early Literacy Initiative Year 6; Family Information Service Hub (F.I.S.H.) 2022; Food Science and Processing Educational Program; Newaygo County Area Promise Zone and WE CAN! Newaygo County | $854,061 |
GRANT PUBLIC SCHOOLS PURPOSE: After School Program 2021-2022; Cafe Connections; GOAL 22% by 2022; Lego Engineering; Modern Poetry; Design Project; Making Math Memorable; Mavin Innovation and Career Success-Year 2; Mobility Path to Independence; Nature is our Educator-Place Based Learning; Rally Cap Summer Outreach; Summer | $598,285 |
Newaygo, MI PURPOSE: 2022 Technology Upgrade; General Operating Support | $348,555 |
White Cloud, MI PURPOSE: 2021-2022 General Operating Support; Assistance to the Poor; Capital Campaign; Capital Request; Summer Program 2022 | $318,592 |
Fremont, MI PURPOSE: General Operating & Program Support 2021-2022; Operating and Program Support - Donor Designated | $315,589 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Fremont Area Community Foundation has recieved totaling $99,196.
| Awarding Organization | Amount |
|---|---|
Fremont Area Elderly Needs Fund Fremont, MI PURPOSE: Creative problem solving workshop | $60,000 |
The Greenville Area Community Foundation Greenville, MI PURPOSE: CATCHAFIRE PROGRAM | $11,000 |
Jury Foundation Saginaw, MI PURPOSE: HEALTH AND WATERSHED ISSUES FOR PICK | $10,000 |
Community Foundation For Southeast Michigan Detroit, MI PURPOSE: IMPLEMENTATION OF HARM REDUCTION ACTIVITIES IN NEWAYGO COUNTY | $10,000 |
Muskegon County Community Foundation Muskegon, MI PURPOSE: TO BE DISTRIBUTED TO THE UNITED WAY OF LAKE COUNTY | $7,935 |
Consumers Energy Foundation Jackson, MI PURPOSE: EMPLOYEE/RETIREE MATCHING GIFT | $200 |
Endowment Analysis
| Beg. Balance | $248,794,987 |
| Earnings | $38,435,850 |
| Admin Expense | $2,590,733 |
| Net Contributions | $2,355,765 |
| Other Expense | $16,729 |
| Grants | $7,275,916 |
| Ending Balance | $279,703,224 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Greater Green Bay Community Foundation Inc Green Bay, WI | $158,723,657 | $42,186,646 |
Community Foundation For The Fox Valley Region Inc Appleton, WI | $500,269,949 | $60,999,391 |
Dayton Foundation Dayton, OH | $614,105,736 | $82,530,515 |
Madison Community Foundation Madison, WI | $285,628,719 | $40,248,600 |
Battle Creek Community Foundation Battle Creek, MI | $135,380,333 | $32,635,612 |
Kalamazoo Community Foundation Kalamazoo, MI | $677,092,659 | $78,067,850 |
Grand Rapids Community Foundation Grand Rapids, MI | $425,971,455 | $49,247,168 |
Akron Community Foundation Akron, OH | $274,088,705 | $39,277,326 |
Dayton Foundation Depository Dayton, OH | $38,449,497 | $25,927,776 |
Community Foundation Of Elkhart County Inc Elkhart, IN | $418,149,768 | $41,619,440 |
Toledo Community Foundation Toledo, OH | $169,770,837 | $23,444,286 |
Stark Community Foundation Inc Canton, OH | $373,666,840 | $68,744,620 |