East Grand Rapids Schools Foundation
- Assets
- $13.4m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 5
- Location
- East Grand Rapids, MI
- Founding
- 03/1984
- Data as of
- 06/2022
- EIN
- 38-2486451
Organization Overview
East Grand Rapids Schools Foundation is located in East Grand Rapids, MI. The organization was established in 1984. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, East Grand Rapids Schools Foundation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Grand Rapids Schools 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, East Grand Rapids Schools Foundation generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $857.7k during the year ending 06/2022. While expenses have increased by 4.7% 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
THE EAST GRAND RAPIDS SCHOOLS FOUNDATION ENRICHES THE EDUCATIONAL EXPERIENCE OF STUDENTS BY FUNDING EXCELLENCE IN TEACHING AND LEARNING THAT REQUIRES FINANCIAL SUPPORT BEYOND THAT OF THE EAST GRAND RAPIDS PUBLIC SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO THE EAST GRAND RAPIDS PUBLIC SCHOOLS TO PROVIDE FOR FINANCIAL SUPPORT FOR EDUCATIONAL ENHANCEMENTS, PROGRAMS, AND CO-CURRICULAR ENHANCEMENTS. THE FOUNDATION ALSO PROVIDES SCHOLARSHIPS FOR POST-SECONDARY OPPORTUNITIES FOR GRADUATES OF EAST GRAND RAPIDS HIGH SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Stuursma Executive Director | Officer | 40 | $95,200 |
Nick Adamy Treasurer | OfficerTrustee | 6 | $0 |
Joel Iakiri President | OfficerTrustee | 6 | $0 |
Beth Skaggs Vice President | OfficerTrustee | 6 | $0 |
Meg Zerfas Secretary | OfficerTrustee | 4 | $0 |
David Hall Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $184,254 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $725,504 |
| Noncash contributions included in lines 1a–1f | $28,800 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $909,758 |
| Total Program Service Revenue | $0 |
| Investment income | $312,733 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$61,891 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,160,600 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $459,915 |
| 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. | $102,564 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $160,034 |
| 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 | $10,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,249 |
| Advertising and promotion | $7,477 |
| Office expenses | $40,604 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $28,800 |
| Travel | $3,416 |
| 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 | $2,248 |
| All other expenses | $0 |
| Total functional expenses | $857,702 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,234 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $639,724 |
| 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 | $7,598 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $12,643,089 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,351,645 |
| Accounts payable and accrued expenses | $7,923 |
| Grants payable | $690,172 |
| Deferred revenue | $10,973 |
| 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 | $24,443 |
| Total liabilities | $733,511 |
| Net assets without donor restrictions | $460,010 |
| Net assets with donor restrictions | $12,158,124 |
| 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 | $13,351,645 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that East Grand Rapids Schools Foundation has recieved totaling $81,600.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $64,600 |
Grand Rapids Community Foundation Grand Rapids, MI PURPOSE: GENERAL OPERATING SUPPORT | $11,000 |
Frey Foundation Grand Rapids, MI PURPOSE: PARKER SPINDLE'S GENUINE HEART FUND | $3,000 |
Frey Foundation Grand Rapids, MI PURPOSE: PARKER SPINDLE'S GENUINE HEART FUND | $3,000 |
Endowment Analysis
| Beg. Balance | $13,927,031 |
| Earnings | -$1,398,952 |
| Net Contributions | $576,204 |
| Grants | $512,542 |
| Ending Balance | $12,591,741 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cranbrook Educational Community Bloomfield Hills, MI | $429,134,973 | $86,571,216 |
Hawken School Gates Mills, OH | $144,772,582 | $45,602,433 |
Detroit Country Day School Beverly Hills, MI | $149,218,548 | $52,745,036 |
University School Shaker Heights, OH | $196,923,470 | $66,975,999 |
Columbus Academy Gahanna, OH | $107,517,374 | $39,084,449 |
University School Of Milwaukee Corporation Milwaukee, WI | $59,516,474 | $37,531,617 |
Park Tudor Foundation Inc Indianapolis, IN | $62,976,373 | $33,968,467 |
Cincinnati Hills Christian Academy Inc Cincinnati, OH | $107,697,396 | $28,223,940 |
Hathaway Brown School Shaker Heights, OH | $155,426,410 | $32,118,161 |
Hebrew Academy Of Cleveland Cleveland Heights, OH | $67,295,611 | $38,136,745 |
Cincinnati Country Day School Cincinnati, OH | $38,516,908 | $24,344,886 |
Laurel School Shaker Heights, OH | $93,663,141 | $30,554,235 |