Lansing Community College Foundation
- Assets
- $19.4m
- Revenue
- $865.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Lansing, MI
- Founding
- 08/1981
- Data as of
- 06/2023
- EIN
- 38-2372751
Organization Overview
Lansing Community College Foundation is located in Lansing, MI. The organization was established in 1981. 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. Lansing 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 06/2023, Lansing Community College Foundation generated $865.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $880.8k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (4.4%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORT TO INSPIRE AND ENABLE THE PURSUIT OF EDUCATION FOR THE BETTERMENT OF ALL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION: PROVIDE SUPPORT TO LANSING COMMUNITY COLLEGE FOR EDUCATIONAL PURPOSES INCLUDING THE PROMOTION, SPONSORSHIP, AND CARRYING OUT OF EDUCATIONAL, CHARITABLE AND RELATED ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rhonda Jones Director | Trustee | 1 | $0 |
Victoria Meadows Director | Trustee | 1 | $0 |
Lolo Robison Vice Chairperson | OfficerTrustee | 1 | $0 |
Christopher Keck Director | Trustee | 1 | $0 |
Angela Mathews Director | Trustee | 1 | $0 |
Robert Bessette Secretary | OfficerTrustee | 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 | $1,028,917 |
| Noncash contributions included in lines 1a–1f | $13,550 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,028,917 |
| Total Program Service Revenue | $0 |
| Investment income | $502,980 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$666,543 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $865,354 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,550 |
| Grants and other assistance to domestic individuals. | $630,278 |
| 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 | $1,896 |
| Fees for services: Accounting | $12,277 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $40,476 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,651 |
| Office expenses | $51,895 |
| Information technology | $43,843 |
| 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 | $14,340 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,637 |
| Total functional expenses | $880,760 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $835,081 |
| Savings and temporary cash investments | $414,272 |
| Pledges and grants receivable | $10,000 |
| 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 | $23,066 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $18,158,633 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,441,052 |
| Accounts payable and accrued expenses | $25,273 |
| 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 | $25,273 |
| Net assets without donor restrictions | $330,952 |
| Net assets with donor restrictions | $19,084,827 |
| 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 | $19,441,052 |