Gogebic Community College Found
- Assets
- $5.2m
- Revenue
- $751.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Ironwood, MI
- Founding
- 06/1978
- Data as of
- 06/2021
- EIN
- 38-2193133
Organization Overview
Gogebic Community College Found is located in Ironwood, MI. The organization was established in 1978. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gogebic Community College Found 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, Gogebic Community College Found generated $751.7k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.1% each year. All expenses for the organization totaled $451.1k during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
FINANCIAL SUPPORT OF GOGEBIC COMMUNITY COLLEGE AND ITS STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
MONIES TRANSFERRED TO GOGEBIC COMMUNITY COLLEGE FOR SCHOLARSHIPS, PURCHASES OF EQUIPMENT AND OTHER ASSETS, MINI-GRANTS FOR COLLEGE FACULTY AND STAFF, STUDENT AND COMMUNITY SUPPORT, AND OPERATING EXPENSES. DUE TO COVID 19 WE HAVE NOT HELD ANY IN-PERSON FUNDRAISERS OR EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Marczak Ex-Officio/executive Direc | OfficerTrustee | 40 | $0 |
Erik Guenard Treasurer | OfficerTrustee | 1 | $0 |
John Siira Vice-President | OfficerTrustee | 1 | $0 |
James Milakovich President | OfficerTrustee | 1 | $0 |
Steve Wesselhoft Director | Trustee | 1 | $0 |
Greg Ryskey 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 | $475,640 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $475,640 |
| Total Program Service Revenue | $0 |
| Investment income | $162,831 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $110,677 |
| Net Income from Fundraising Events | $2,600 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $751,748 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $236,174 |
| Grants and other assistance to domestic individuals. | $179,181 |
| 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 | $10,367 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $382 |
| Fees for services: Other | $0 |
| Advertising and promotion | $949 |
| Office expenses | $1,382 |
| Information technology | $17,465 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $10 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $451,111 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $155,329 |
| 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 | $0 |
| Net Land, buildings, and equipment | $12,500 |
| Investments—publicly traded securities | $5,076,381 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,244,210 |
| Accounts payable and accrued expenses | $84,503 |
| 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 | $84,503 |
| Net assets without donor restrictions | $531,806 |
| Net assets with donor restrictions | $4,627,901 |
| 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 | $5,244,210 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Gogebic Community College Found has recieved totaling $14,720.
| Awarding Organization | Amount |
|---|---|
James A Ruppe Foundation Chicago, IL PURPOSE: EDUCATIONAL PURPOSES | $10,000 |
Xcel Energy Foundation Minneapolis, MN PURPOSE: EDUCATION GRANT | $4,000 |
Consumers Energy Foundation Jackson, MI PURPOSE: EMPLOYEE/RETIREE MATCHING GIFT | $500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $220 |
Endowment Analysis
| Beg. Balance | $3,788,696 |
| Earnings | $617,506 |
| Admin Expense | $13,869 |
| Net Contributions | $336,828 |
| Other Expense | $52,102 |
| Grants | $179,181 |
| Ending Balance | $4,497,878 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Muskingum University New Concord, OH | $203,474,900 | $69,143,599 |
Baker College Flint, MI | $33,049,782 | $27,043,165 |
Baker College Flint, MI | $48,464,572 | $25,592,429 |
Baker College Flint, MI | $39,254,865 | $22,321,880 |
Holy Cross College Inc Notre Dame, IN | $53,093,799 | $27,179,393 |
Finlandia University Hancock, MI | $36,184,751 | $18,081,025 |
Christ College Of Nursing Andhealth Sciences Cincinnati, OH | $10,994,626 | $16,669,063 |
Ancilla Domini College Plymouth, IN | $0 | $14,414,276 |
Baker College Flint, MI | $17,958,758 | $9,486,714 |
College Of The Menominee Nation Keshena, WI | $15,783,806 | $11,637,458 |
Lac Courte Oreilles Ojibwe College Hayward, WI | $16,000,980 | $10,229,989 |
The Chatfield Edge St Martin, OH | $13,777,194 | $3,802,569 |