Midland Area Community Foundation
- Assets
- $114.9m
- Revenue
- $16.9m
- Investments
- $0.0
- Employees
- 12
- Location
- Midland, MI
- Founding
- 12/1973
- Data as of
- 12/2022
- EIN
- 38-2023395
Organization Overview
Midland Area Community Foundation is located in Midland, MI. The organization was established in 1973. 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 12/2023, Midland Area Community Foundation employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midland 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 12/2022, Midland Area Community Foundation generated $16.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $13.7m during the year ending 12/2022. While expenses have increased by 15.4% 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 2015, Midland Area Community Foundation has awarded 827 individual grants totaling $31,526,061. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO PROVIDE PHILANTHROPIC LEADERSHIP TO STRENGTHEN OUR COMMUNITY BY FOSTERING COLLABORATION AND GIVING TODAY AND IN THE FUTURE. SINCE 1973, MIDLAND AREA COMMUNITY FOUNDATION HAS PROVIDED AN AVENUE FOR INDIVIDUALS AND ORGANIZATIONS TO CHANGE THE COMMUNITY THROUGH PHILANTHROPIC GIVING. MACF AWARDS GRANTS AND SCHOLARSHIPS, OFFERS THE ABILITY FOR INDIVIDUALS AND FAMILIES TO INVEST IN THE COMMUNITY, AND SERVES AS A CATALYST FOR COLLABORATION AND CHANGE BY LEADING COMMUNITY DIALOGUE AND ACTION ON CRITICAL ISSUES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPING OUR TALENT (TALENT, EDUCATION, YOUTH DEVELOPMENT, AND ENGAGEMENT) - THE LOCAL AREA OFFERS HIGH QUALITY EDUCATION AND LEARNING OPPORTUNITIES THROUGHOUT LIFE, AND THE COMMUNITY NURTURES A SKILLED WORKFORCE AND PLACES HIGH VALUE ON POST-SECONDARY LEARNING. THE FOUNDATION PROVIDES OPPORTUNITIES FOR CHILDREN AND YOUTH TO REALIZE THEIR HOPES AND DREAMS.
BUILDING OUR LIVELIHOOD (ECONOMIC DEVELOPMENT AND INFRASTRUCTURE) - THE LOCAL AREA CREATES AND SUSTAINS COMPETITIVE ADVANTAGES FOR EXISTING AND FUTURE BUSINESSES. THE FOUNDATION IS WELL-CONNECTED AND INVESTS IN PHYSICAL AND TECHNOLOGICAL INFRASTRUCTURE.
ENRICHING OUR COMMUNITY (ARTS, CULTURE, ENTERTAINMENT, RECREATION, DIVERSITY, COMMUNITY LEADERSHIP, AND ENVIRONMENT) - THE LOCAL AREA IS A VIBRANT HUB OF ARTS, CULTURE, ENTERTAINMENT AND RECREATIONAL OPPORTUNITIES. THE FOUNDATION IS COMMITTED TO EQUALITY AND INCLUSION, AND WELCOMES, EMBRACES, AND ACCEPTS ALL PEOPLE. THE LOCAL AREA IS A SUSTAINABLE COMMUNITY THAT VALUES AND PROTECTS ITS NATURAL RESOURCES.
CARING FOR OUR PEOPLE (HUMAN SERVICES, SOCIAL SERVICES, POVERTY,HOUSING, MENTAL AND PHYSICAL HEALTH, AND PUBLIC SAFETY) - THE LOCAL COMMUNITY PROVIDES A COORDINATED AND COMPREHENSIVE SYSTEM OF SUPPORTIVE HEALTH AND HUMAN SERVICES SO THAT ALL MAY THRIVE. THE FOUNDATION ENCOURAGES SELF- SUFFICIENCY AND ACCEPTS ITS RESPONSIBILITY TO COLLABORATE TO CREATE THE SAFEST COMMUNITY IN THE COUNTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Mortensen President/ce | Officer | 40 | $196,441 |
Kyle Fahrner CFO | Officer | 40 | $129,060 |
William Garchow Vice Chair | Trustee | 2 | $0 |
Ann Holmon Secretary | Trustee | 2 | $0 |
Katie Horning Trustee | OfficerTrustee | 1 | $0 |
Jon Lynch Trustee | 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 | $9,915,544 |
| Noncash contributions included in lines 1a–1f | $993,096 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,915,544 |
| Total Program Service Revenue | $0 |
| Investment income | $2,113,028 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,726,052 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,911,059 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,391,272 |
| Grants and other assistance to domestic individuals. | $958,081 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $309,550 |
| Compensation of current officers, directors, key employees. | $106,394 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $523,122 |
| Pension plan accruals and contributions | $36,541 |
| Other employee benefits | $72,066 |
| Payroll taxes | $62,623 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,200 |
| Fees for services: Accounting | $19,661 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $130,339 |
| Fees for services: Other | $88,432 |
| Advertising and promotion | $57,110 |
| Office expenses | $35,058 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $50,691 |
| Travel | $13,932 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,866 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,506 |
| Insurance | $32,683 |
| All other expenses | $114,254 |
| Total functional expenses | $13,749,116 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,274,737 |
| 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 | $426,553 |
| Net Land, buildings, and equipment | $1,188,296 |
| Investments—publicly traded securities | $111,006,116 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $114,895,702 |
| Accounts payable and accrued expenses | $116,735 |
| Grants payable | $28,400 |
| 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 | $2,847,314 |
| Total liabilities | $2,992,449 |
| Net assets without donor restrictions | $109,930,618 |
| Net assets with donor restrictions | $1,972,635 |
| 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 | $114,895,702 |
Grants Awarded
Over the last fiscal year, Midland Area Community Foundation has awarded $4,797,477 in support to 120 organizations.
| Grant Recipient | Amount |
|---|---|
2-1-1 NORTHEAST MICHIGAN PURPOSE: HUMAN SERVICES | $75,000 |
ALDERSGATE UNITED METHODIST CHURCH PURPOSE: COMMUNITY | $7,500 |
AFFORDABLE HOUSING ALLIANCE OFMIDLAND COUNTY PURPOSE: COMMUNITY | $36,550 |
AMERICAN CIVIL LIBERTIES UNIONFOUNDATION PURPOSE: COMMUNITY | $10,000 |
ADOPTION OPTION INC PURPOSE: COMMUNITY/RECREATION | $8,015 |
ARC OF MIDLAND PURPOSE: HUMAN SERVICES/COMM | $47,943 |