Kalamazoo Valley Community College Foundation
- Assets
- $35.8m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Kalamazoo, MI
- Founding
- 07/1980
- Data as of
- 06/2021
- EIN
- 38-2307720
Organization Overview
Kalamazoo Valley Community College Foundation is located in Kalamazoo, MI. The organization was established in 1980. 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. Kalamazoo Valley Community College 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 06/2021, Kalamazoo Valley Community College Foundation generated $2.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (9.4%) each year. All expenses for the organization totaled $1.4m 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
TO SOLICIT, COLLECT AND INVEST DONATIONS MADE FOR THE PROMOTION OF EDUCATIONAL ACTIVITIES ON BEHALF OF KALAMAZOO VALLEY COMMUNITY COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO KALAMAZOO VALLEY COMMUNITY COLLEGE
GRANTS TO KALAMAZOO VALLEY MUSEUM
PROPERTY MANAGEMENT- FSIC, LLC
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Lahman Treasurer | OfficerTrustee | 0.3 | $0 |
Travis Grimwood Board Chair | OfficerTrustee | 0.3 | $0 |
Todd Sanford Secretary | OfficerTrustee | 0.3 | $0 |
Michelle Eldridge Vice Chair | OfficerTrustee | 0.3 | $0 |
Brian Lueth Assistant Treasurer | Officer | 5 | $0 |
Linda Depta Executive Director | Officer | 38 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,270 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $769,526 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $770,796 |
| Total Program Service Revenue | $313,467 |
| Investment income | $636,276 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $824,190 |
| Net Income from Fundraising Events | $55,276 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,600,005 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $810,886 |
| 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 | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,289 |
| 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 | $93,481 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $457,501 |
| Insurance | $15,348 |
| All other expenses | $5,856 |
| Total functional expenses | $1,385,361 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,204,898 |
| Pledges and grants receivable | $560,000 |
| Accounts receivable, net | $1,383,067 |
| 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 | $8,449,113 |
| Investments—publicly traded securities | $24,178,335 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $35,775,413 |
| 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 | $7,720,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $902,528 |
| Total liabilities | $8,622,528 |
| Net assets without donor restrictions | $10,221,497 |
| Net assets with donor restrictions | $16,931,388 |
| 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 | $35,775,413 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Kalamazoo Valley Community College Foundation has recieved totaling $1,210,605.
| Awarding Organization | Amount |
|---|---|
Ronda E Stryker & William D Johnston Foundation Kalamazoo, MI PURPOSE: ACCELERATED ASSOCIATE PROGRAM PILOT PROGRAM | $837,410 |
Ronda E Stryker & William D Johnston Foundation Kalamazoo, MI PURPOSE: ACCELERATED ASSOCIATE PROGRAM PILOT PROGRAM | $302,454 |
Marvin And Rosalie Okun Foundation Kalamazoo, MI PURPOSE: CHARITABLE | $30,000 |
Bronson Health Foundation Inc Kalamazoo, MI PURPOSE: SCHOLARSHIPS FOR BRONSON EMPLOYEES WHO ARE KVCC STUDENTS | $15,000 |
Fairfield Countys Community Foundation Inc Norwalk, CT PURPOSE: FOR GENERAL SUPPORT. | $6,000 |
Lawrence And Sylvia Wong Foundation Kalamazoo, MI PURPOSE: GENERAL OPERATING | $6,000 |
Endowment Analysis
| Beg. Balance | $12,490,343 |
| Earnings | $4,623,655 |
| Net Contributions | $53,820 |
| Other Expense | $123,464 |
| Grants | $280,375 |
| Ending Balance | $16,763,979 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Delta College Foundation University Center, MI | $1,992,755 | $2,619,212 |
Alpena Community College Foundation Alpena, MI | $9,851,824 | $3,064,621 |
Washtenaw Community College Foundation Ann Arbor, MI | $29,277,550 | $2,130,032 |
Kalamazoo Valley Community College Foundation Kalamazoo, MI | $35,775,413 | $2,600,005 |
Kalamazoo Valley Community College Holding Company Kalamazoo, MI | $1,050,776 | $291 |