Henry Ford Community College Foundation
- Assets
- $20.0m
- Revenue
- $2.8m
- Investments
- $2.6m
- Employees
- 0
- Location
- Dearborn, MI
- Founding
- 06/1982
- Data as of
- 06/2023
- 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 06/2023, Henry Ford Community College Foundation generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 16.7% each year . All expenses for the organization totaled $2.7m during the year ending 06/2023. While expenses have increased by 16.9% per year over the past 8 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
2023
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 |
A Reginald Best Executive Director | OfficerTrustee | 0.1 | $0 |
Stephen Quinlan Chair | OfficerTrustee | 0.1 | $0 |
J Michael Kirk Vice Chair | OfficerTrustee | 0.1 | $0 |
Jeanne Martens Secretary | OfficerTrustee | 0.1 | $0 |
John Grenke Treasurer | OfficerTrustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $881 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,194,419 |
| Noncash contributions included in lines 1a–1f | $1,225 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,195,300 |
| Total Program Service Revenue | $0 |
| Investment income | $269,596 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $339,061 |
| Net Income from Fundraising Events | $11,320 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,815,277 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,095,698 |
| Grants and other assistance to domestic individuals. | $374,510 |
| 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 | $4,915 |
| Fees for services: Accounting | $13,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $182,020 |
| 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 | $6,208 |
| All other expenses | $0 |
| Total functional expenses | $2,721,247 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $721,890 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $71,180 |
| 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 | $16,567,976 |
| Investments—other securities | $2,603,184 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $53,982 |
| Total assets | $20,018,212 |
| Accounts payable and accrued expenses | $90,879 |
| Grants payable | $4,353 |
| 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 | $95,232 |
| Net assets without donor restrictions | $5,357,932 |
| Net assets with donor restrictions | $14,565,048 |
| 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 | $20,018,212 |