Henry Ford Community College Foundation
- Assets
- $18.6m
- Revenue
- $3.3m
- Investments
- $2.7m
- Employees
- 0
- Location
- Dearborn, MI
- Founding
- 06/1982
- Data as of
- 06/2022
- EIN
- 38-2421276
Organization Overview
Henry Ford Community College Foundation is located in Dearborn, MI. The organization was established in 1982. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Henry Ford 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 06/2022, Henry Ford Community College Foundation generated $3.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.1% each year . All expenses for the organization totaled $2.2m during the year ending 06/2022. While expenses have increased by 15.7% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT PROGRAMS & SERVICES AT HENRY FORD COLLEGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL SCHOLARSHIP FUNDS-ALL SCHOLARSHIP, FUNDS AND PROGRAM QUALIFY AS EDUCATIONAL
SPECIAL EDUCATION PROGRAMS-DONEE OF ALL SCHOLARSHIPS, FUNDS AND PROGRAMS IS: HENRY FORD COLLEGE, 5101 EVERGREEN, DEARBORN, MI 48128
CONTRIBUTIONS OF NON-CASH ITEMS TRANSFERRED TO HENRY FORD COLLEGE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russell Kavalhuna President Of Hfc | OfficerTrustee | 0.1 | $0 |
John Satkowski Hfc Vice President | OfficerTrustee | 0.1 | $0 |
Stephen J Quinlan Vice Chair | OfficerTrustee | 0.1 | $0 |
Denise Mcdonald Chair | OfficerTrustee | 0.1 | $0 |
A Reginald Best Executive Director | OfficerTrustee | 0.1 | $0 |
J Michael Kirk Secretary | OfficerTrustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $275 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,793,671 |
| Noncash contributions included in lines 1a–1f | $60,914 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,793,946 |
| Total Program Service Revenue | $0 |
| Investment income | $296,273 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,213,973 |
| Net Income from Fundraising Events | $4,205 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,308,397 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,625,375 |
| Grants and other assistance to domestic individuals. | $278,227 |
| 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 | $5,443 |
| Fees for services: Accounting | $14,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $202,838 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,237 |
| All other expenses | $0 |
| Total functional expenses | $2,174,133 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,117,590 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $68,371 |
| 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 | $0 |
| Investments—publicly traded securities | $14,650,266 |
| Investments—other securities | $2,686,923 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $42,963 |
| Total assets | $18,566,113 |
| Accounts payable and accrued expenses | $174,392 |
| Grants payable | $42,819 |
| 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 | $217,211 |
| Net assets without donor restrictions | $4,785,884 |
| Net assets with donor restrictions | $13,563,018 |
| 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 | $18,566,113 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Henry Ford Community College Foundation has recieved totaling $3,000.
| Awarding Organization | Amount |
|---|---|
Hollingsworth Logistics Group Foundation Dearborn, MI PURPOSE: SCHOLARSHIPS | $3,000 |
Endowment Analysis
| Beg. Balance | $18,187,115 |
| Earnings | -$2,867,658 |
| Net Contributions | $95,627 |
| Grants | $357,088 |
| Ending Balance | $15,057,996 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Youngstown State University Foundation Youngstown, OH | $318,269,128 | $38,933,738 |
Michigan State University Foundation East Lansing, MI | $535,425,307 | $55,850,938 |
Ivy Tech Foundation Inc Indianapolis, IN | $133,152,328 | $30,082,278 |
Kent State University Foundation Kent, OH | $245,939,628 | $27,886,498 |
University Of Akron Foundation Akron, OH | $205,506,114 | $14,662,521 |
School Employees Benefit Trust Cincinnati, OH | $16,584,284 | $19,989,967 |
Friends Of Breakthrough Schools Cleveland, OH | $75,617,435 | $14,315,646 |
University Research Park Inc Madison, WI | $162,117,796 | $19,527,506 |
Eastern Michigan University Foundation Ypsilanti, MI | $82,145,619 | $14,420,618 |
Michigan Tech Fund Houghton, MI | $217,061,508 | $42,674,434 |
Ers Strategic Properties Inc Rootstown, OH | $122,229,530 | $11,683,070 |
Cuyahoga Community College Foundati Cleveland, OH | $98,727,251 | $19,770,120 |