Pine Rest Foundation
- Assets
- $24.4m
- Revenue
- -$4.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 07/1961
- Data as of
- 06/2022
- EIN
- 38-1676540
Organization Overview
Pine Rest Foundation is located in Grand Rapids, MI. The organization was established in 1961. According to its NTEE Classification (P46) the organization is classified as: Family Counseling, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pine Rest Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PINE REST FOUNDATION WAS ORGANIZED TO RAISE FUNDS BY MEANS OF MEMBERSHIPS AND GIFTS, TO MANAGE INVESTMENT ASSETS IN AN EFFORT TO INCREASE AVAILABLE FUNDS, AND TO PROVIDE GRANTS THAT SUPPORT THE SERVICES AND MISSION OF PINE REST CHRISTIAN MENTAL HEALTH SERVICES WHICH IS TO EXPRESS THE HEALING MINISTRY OF JESUS CHRIST BY PROVIDING BEHAVIORAL HEALTH CARE WITH PROFESSIONAL EXCELLENCE, CHRISTIAN INTEGRITY AND COMPASSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EACH YEAR FOLLOWING A SPECIFIC FORMULA, THE PINE REST FOUNDATION AWARDS GRANTS TO PINE REST CHRISTIAN MENTAL HEALTH SERVICES TO FUND VARIOUS ASPECTS OF BEHAVIORAL HEALTHCARE AND COUNSELING PROGRAMS. AN AWARD OF $675,856 WAS MADE TO PROVIDE FINANCIAL ASSISTANCE FOR PATIENTS WITH THE INABILITY TO PAY FOR SERVICES. AN ADDITIONAL AWARD OF $684,283 WAS MADE AVAILABLE FOR EDUCATION, PREVENTION AND SUPPORT PROGRAMS THROUGH THE HOSPITAL. FUNDING WAS PROVIDED FOR THE CONTINUED DEVELOPMENT OF THE RESIDENCY PROGRAM, AND TO IMPROVE HOSPITAL-BASED SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Eastburg Chief Executive Officer | Officer | 2 | $0 |
Paul Karsten Chief Financial Officer | Officer | 2 | $0 |
Donald Mackenzie Executive Director Of The Foundation | Officer | 2 | $0 |
Jack Deboer Secretary / Treasurer | Trustee | 2 | $0 |
Bryan Ridgeway Board Member | 1 | $0 | |
Robert Stafford Board Member | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ghiorsi & Sorrenti Inc Consulting - Fundraising | 6/29/17 | $158,527 |
Merrill Lynch Investment Management Fees | 6/29/17 | $124,717 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $117,900 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $68,575 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $186,475 |
| Total Program Service Revenue | $0 |
| Investment income | -$5,151,754 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $589,852 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$4,373,823 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,360,139 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $205,602 |
| Fees for services: Other | $0 |
| Advertising and promotion | $145 |
| Office expenses | $0 |
| 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 | $117,900 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,685,170 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,380 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $267,725 |
| 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 | $24,165,406 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $24,439,511 |
| Accounts payable and accrued expenses | $44,300 |
| 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 | $44,300 |
| Net assets without donor restrictions | $20,649,361 |
| Net assets with donor restrictions | $3,745,850 |
| 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 | $24,439,511 |