Northwestern Michigan College Foundation
- Assets
- $64.1m
- Revenue
- $8.3m
- Investments
- $62.6k
- Employees
- 0
- Location
- Traverse City, MI
- Founding
- 10/1981
- Data as of
- 06/2021
- EIN
- 38-2376475
Organization Overview
Northwestern Michigan College Foundation is located in Traverse City, MI. The organization was established in 1981. According to its NTEE Classification (B42) the organization is classified as: Undergraduate 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. Northwestern Michigan 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, Northwestern Michigan College Foundation generated $8.3m 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 $4.2m during the year ending 06/2021. While expenses have increased by 8.2% per year over the past 6 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORT FOR THE OBJECTIVES AND PURPOSES OF NORTHWESTERN MICHIGAN COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS, AWARDS & PROGRAMS: THE FOUNDATION ALLOCATES FUNDS TO NORTHWESTERN MICHIGAN COLLEGE FOR THE PURPOSE OF AWARDING SCHOLARSHIPS, AND TRANSFERS RESTRICTED CONTRIBUTIONS TO THE DESIGNATED DEPARTMENT OR PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William F Marsh III Immediate Past Chair | OfficerTrustee | 3 | $0 |
Rebecca Teahen Executive Director | OfficerTrustee | 36 | $0 |
Francis J Gingras First Vice-Chair | OfficerTrustee | 3 | $0 |
Nicholas Nissley Second Vice-Chair | OfficerTrustee | 8 | $0 |
Alan J Zelinski Chair | OfficerTrustee | 3 | $0 |
Jayne H Mohr Secretary | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $285,806 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,242,019 |
| Noncash contributions included in lines 1a–1f | $55,747 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,527,825 |
| Total Program Service Revenue | $0 |
| Investment income | $1,026,475 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,747,505 |
| Net Income from Fundraising Events | -$4,472 |
| Net Income from Gaming Activities | $9,410 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,306,743 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,361,851 |
| 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 | $600,549 |
| 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 | $100,351 |
| Fees for services: Other | $26,256 |
| Advertising and promotion | $13,405 |
| Office expenses | $0 |
| Information technology | $14,245 |
| 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 | $86 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $45,416 |
| All other expenses | $94 |
| Total functional expenses | $4,162,253 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,468,832 |
| Pledges and grants receivable | $3,517,372 |
| 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 | $6,106 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $52,526,980 |
| Investments—other securities | $62,599 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $532,949 |
| Total assets | $64,114,838 |
| Accounts payable and accrued expenses | $24,662 |
| Grants payable | $0 |
| Deferred revenue | $100,514 |
| 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 | $2,846,894 |
| Total liabilities | $2,972,070 |
| Net assets without donor restrictions | $5,471,633 |
| Net assets with donor restrictions | $55,671,135 |
| 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 | $64,114,838 |
Grants Recieved
Over the last fiscal year, we have identified 23 grants that Northwestern Michigan College Foundation has recieved totaling $556,830.
| Awarding Organization | Amount |
|---|---|
William G Janis & Susanne M Janis Family Foundation Ltd Singer Island, FL PURPOSE: GENERAL | $200,000 |
Art And Mary Schmuckal Family Foundation Traverse City, MI PURPOSE: FOURTH PAYMENT OF 5-YEAR MULTI-YEAR AWARD | $65,000 |
Grand Traverse Regional Community Foundation Traverse City, MI PURPOSE: B:EDUCATION | $57,250 |
Harry A & Margaret D Towsley Foundation Ann Arbor, MI PURPOSE: PROGRAM SUPPORT | $50,000 |
Ames Fam Foundation Point Clear, AL PURPOSE: CHARITABLE CONTRIBUTIONS | $50,000 |
Great Lakes Observing System Regional Association Ann Arbor, MI PURPOSE: An Expanded Spotter Buoy Network on the Upper Great Lakes in support of Recreational Boating, Shipping and Ferry Line Operations. | $48,805 |
Endowment Analysis
| Beg. Balance | $22,295,638 |
| Earnings | $6,405,676 |
| Net Contributions | $2,050,664 |
| Other Expense | $59,090 |
| Grants | $679,924 |
| Ending Balance | $30,012,964 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Baker College Flint, MI | $33,908,610 | $19,974,450 |
Baker College Flint, MI | $26,174,553 | $16,788,668 |
Calumet College Whiting, IN | $23,910,768 | $16,116,296 |
Bellin College Inc Green Bay, WI | $39,042,736 | $15,163,582 |
Wilberforce University Wilberforce, OH | $28,180,485 | $40,652,171 |
Grace Christian University Wyoming, MI | $13,530,874 | $15,083,160 |
Art Academy Of Cincinnati Cincinnati, OH | $6,583,513 | $9,495,180 |
Pontifical College Josephinum Columbus, OH | $57,627,425 | $9,311,900 |
Baker College Flint, MI | $15,732,306 | $4,978,817 |
Kuyper College Grand Rapids, MI | $13,506,417 | $6,841,093 |
Gods Bible School College And Missionary Training Home Cincinnati, OH | $9,412,262 | $6,100,308 |
Michigan Colleges Alliance Southfield, MI | $5,177,739 | $4,811,451 |