Community Foundation For Southeast Michigan
- Assets
- $1.1b
- Revenue
- $250.9m
- Investments
- $649.0m
- Employees
- 56
- Location
- Detroit, MI
- Founding
- 08/1984
- Data as of
- 12/2021
- EIN
- 38-2530980
Organization Overview
Community Foundation For Southeast Michigan is located in Detroit, MI. The organization was established in 1984. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Community Foundation For Southeast Michigan employed 56 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Foundation For Southeast Michigan 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 12/2021, Community Foundation For Southeast Michigan generated $250.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.2% each year . All expenses for the organization totaled $95.2m during the year ending 12/2021. While expenses have increased by 7.4% 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.
Since 2020, Community Foundation For Southeast Michigan has awarded 3,077 individual grants totaling $150,345,135. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE THE QUALITY OF LIFE IN SOUTHEAST MICHIGAN. WE PROMOTE AND FACILITATE PERMANENT POSITIVE CHANGE THROUGH THOUGHTFUL PHILANTHROPY, AND WE HELP DONORS INVEST IN ORGANIZATIONS THEY CARE ABOUT NATIONWIDE.
Describe the Organization's Program Activity:
THE NEW ECONOMY INITIATIVE (NEI) WAS DEVELOPED BY THE COMMUNITY FOUNDATIONS WITH FUNDING FROM MULTIPLE NATIONAL AND LOCAL FOUNDATIONS. NEI IS WORKING TO DIVERSIFY THE REGIONAL ECONOMY OF SOUTHEAST MICHIGAN AND STIMULATE ENTREPRENEURIAL DEVELOPMENT. IN 2021, NEI FUNDED GRANTS AND OTHER IMPORTANT WORK TOTALING MORE THAN $6 MILLION. NEI PRIMARILY CONCENTRATES ON BUILDING A NETWORK OF SUPPORT FOR ENTREPRENEURS. GRANTS SUPPORT THE NONPROFIT SERVICE PROVIDERS FROM THOSE PROVIDING TECHNICAL ASSISTANCE LIKE BUSINESS PLANNING AND CONCEPT-TESTING TO THOSE PROVIDING CAPITAL AND BEYOND WHO HELP BUSINESSES GROW AND THRIVE. IN ADDITION, NEI PROVIDES SUPPORT TO HELP THESE NETWORKS OF SERVICE PROVIDERS CONNECT BETTER TO EACH OTHER AND THE PEOPLE THEY SERVE. THE GOAL IS TO GROW NEW COMPANIES AND NEW JOBS, AND TO ENCOURAGE ADDITIONAL DOLLARS OF INVESTMENT IN THE REGION. ULTIMATELY, THAT MEANS BUILDING A MORE DIVERSE ECONOMY WHERE JOBS AND PROSPERITY ARE AVAILABLE FOR ALL.
THE MICHIGAN JUSTICE FUND (MJF) IS A FUNDERS' COLLABORATIVE THAT MAKES INVESTMENTS TO STEM THE FLOW OF INDIVIDUALS INTO THE CRIMINAL JUSTICE SYSTEM, SUPPORT THE INVESTMENT OF PUBLIC DOLLARS TO COMMUNITY-DRIVEN ALTERNATIVES TO INCARCERATION, AND ENSURE THAT THOSE WHO ARE RETURNING HOME AFTER INCARCERATION RECEIVE THE SUPPORT THEY NEED TO FLOURISH. THE MICHIGAN JUSTICE FUND IS COMPRISED OF MICHIGAN-BASED AND NATIONAL FUNDERS DEDICATED TO ADVANCING JUSTICE REFORM AND THE ECONOMIC MOBILITY OF INDIVIDUALS WITH CRIMINAL CONVICTIONS IN MICHIGAN. IN 2021, MJF FUNDED $4.2MM IN GRANTS TO NONPROFIT ORGANIZATIONS THAT SUPPORT JUSTICE REFORM.
IN ADDITION TO IMPACTING THE LIVES OF INDIVIDUALS AND FAMILIES, THE COVID-19 PUBLIC HEALTH EMERGENCY IS CAUSING DISRUPTIONIN THE NEAR AND LONG TERMTO A WIDE RANGE OF NONPROFIT ORGANIZATIONS THAT ARE SO VITAL TO THE QUALITY OF LIFE IN OUR REGION. IN RESPONSE, THE COMMUNITY FOUNDATION JOINED FORCES WITH MANY DONORS AND FOUNDATIONS TO MOBILIZE SUPPORT FOR COVID-19 RESPONSE IN HEALTHCARE, ARTS AND CULTURE, AND SMALL BUSINESS DEVELOPMENT. IN 2021, COVID-SPECIFIC GRANTS TOTALED $3.2 MILLION.
THROUGH ITS GRANTMAKING, THE COMMUNITY FOUNDATION FOR SOUTHEAST MICHIGAN SEEKS TO BUILD A STRONGER, MORE COMPETITIVE REGION BY ENCOURAGING REGIONAL THINKING AND COOPERATION, FOSTERING INNOVATION AND CREATIVE SOLUTIONS, AND LEVERAGING ADDITIONAL RESOURCES FOR AREA ORGANIZATIONS AND COMMUNITIES. SCHEDULE I LISTS ORGANIZATIONS SUPPORTED AND GRANTS AWARDED IN 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mariam C Noland President | Officer | 42 | $608,086 |
Laura L Brownfield General Counsel | Officer | 40 | $258,695 |
Pamela D Lewis End 122021 Director, New Economy Initiative (former) | 40 | $221,165 | |
Sheryl G Arb Vp, Marketing And Communications | Officer | 40 | $219,351 |
Thomas M Woiwode Director, Greenways Initiative | 40 | $216,765 | |
Kathryn G Brisson Vp, Program | Officer | 40 | $212,049 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Monroe Capital Investment Manager | 12/30/21 | $630,086 |
Glouston Capital Partners Investment Manager | 12/30/21 | $541,736 |
Aberdeen Investment Manager | 12/30/21 | $351,298 |
Hardman Johnston Global Advisory Investment Manager | 12/30/21 | $333,105 |
Pimco Investment Manager | 12/30/21 | $326,898 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $131,569 |
| Government grants | $2,555,769 |
| All other contributions, gifts, grants, and similar amounts not included above | $196,057,621 |
| Noncash contributions included in lines 1a–1f | $12,892,684 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $198,744,959 |
| Total Program Service Revenue | $697,352 |
| Investment income | $14,882,777 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $36,617,453 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $250,946,101 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $78,712,412 |
| 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. | $2,416,489 |
| Compensation of current officers, directors, key employees. | $1,239,659 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,955,846 |
| Pension plan accruals and contributions | $368,290 |
| Other employee benefits | $426,299 |
| Payroll taxes | $350,556 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $195,091 |
| Fees for services: Accounting | $374,694 |
| Fees for services: Lobbying | $18,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,160,105 |
| Fees for services: Other | $2,954,181 |
| Advertising and promotion | $0 |
| Office expenses | $739,576 |
| Information technology | $392,755 |
| Royalties | $0 |
| Occupancy | $548,984 |
| Travel | $23,367 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $81,411 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $167,723 |
| All other expenses | $0 |
| Total functional expenses | $95,156,910 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,824,431 |
| Savings and temporary cash investments | $100,223,236 |
| Pledges and grants receivable | $75,380,515 |
| 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 | $289,534,056 |
| Investments—other securities | $648,958,663 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,847,390 |
| Total assets | $1,124,768,291 |
| Accounts payable and accrued expenses | $722,451 |
| Grants payable | $8,984,276 |
| 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 | $13,156,016 |
| Total liabilities | $22,862,743 |
| Net assets without donor restrictions | $1,007,396,229 |
| Net assets with donor restrictions | $94,509,319 |
| 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 | $1,124,768,291 |
Grants Awarded
Over the last fiscal year, Community Foundation For Southeast Michigan has awarded $72,639,446 in support to 1,391 organizations.
| Grant Recipient | Amount |
|---|---|
Detroit, MI PURPOSE: HOSTING THE NETWORK DIRECTOR OFFICE FOR THE INCLUSIVE SMALL BUSINESS SUPPORT NETWORK FUND | $2,500,000 |
Detroit, MI PURPOSE: ECONOMIC DEVELOPMENT ACTIVITIES | $2,300,050 |
Bloomfield Hills, MI PURPOSE: GENERAL OPERATIONS | $2,300,000 |
Bloomfield Hills, MI PURPOSE: GENERAL OPERATIONS | $2,000,000 |
Ave Maria, FL PURPOSE: CHANCELLOR DISCRETIONARY FUND | $1,007,774 |
PROSPERUS DETROIT MICRO LENDING PURPOSE: PROJECT MANAGEMENT AND TECHNICAL ASSISTANCE FOR THE ANCHOR BUSINESS PROGRAM | $825,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Community Foundation For Southeast Michigan has recieved totaling $88,500.
| Awarding Organization | Amount |
|---|---|
Roundtable Strategies Mt Clemens, MI PURPOSE: GENERAL FUND ASSISTANCE | $63,500 |
Elaine And Leo Stern Foundation Southfield, MI PURPOSE: GENERAL CHARITABLE SUPPORT IN THE NAME OF THE ELAINE AND LEO STERN FOUNDATION FUND OF THE COMMUNITY FOUNDATION FOR SOUTHEAST MICHIGAN | $25,000 |
Endowment Analysis
| Beg. Balance | $674,118,403 |
| Earnings | $84,476,741 |
| Admin Expense | $4,091,547 |
| Net Contributions | $34,556,851 |
| Grants | $22,128,616 |
| Ending Balance | $766,931,832 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Endowment Foundation Hudson, OH | $7,068,290,344 | $2,685,508,863 |
Columbus Foundation Columbus, OH | $2,241,760,925 | $316,145,889 |
Cleveland Foundation Cleveland, OH | $2,462,394,752 | $116,704,950 |
Greater Cincinnati Foundation Cincinnati, OH | $931,686,456 | $157,180,384 |
Community Foundation For Southeast Michigan Detroit, MI | $1,124,768,291 | $250,946,101 |
Greater Milwaukee Foundation Inc Milwaukee, WI | $1,114,706,959 | $151,763,598 |
Thrivent Charitable Impact & Investing Appleton, WI | $809,708,853 | $138,812,775 |
Central Indiana Community Foundation Inc Indianapolis, IN | $548,109,976 | $56,175,018 |
Greater Green Bay Community Foundation Inc Green Bay, WI | $158,723,657 | $42,186,646 |
Community Foundation For The Fox Valley Region Inc Appleton, WI | $500,269,949 | $60,999,391 |
Dayton Foundation Dayton, OH | $614,105,736 | $82,530,515 |
Madison Community Foundation Madison, WI | $285,628,719 | $40,248,600 |