Washtenaw Community College Foundation
- Assets
- $29.3m
- Revenue
- $2.1m
- Investments
- $28.3m
- Employees
- 0
- Location
- Ann Arbor, MI
- Founding
- 10/1985
- Data as of
- 06/2022
- EIN
- 38-2575395
Organization Overview
Washtenaw Community College Foundation is located in Ann Arbor, MI. The organization was established in 1985. According to its NTEE Classification (B41) the organization is classified as: Two-Year 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. Washtenaw 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, Washtenaw Community College Foundation generated $2.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $1.8m during the year ending 06/2022. While expenses have increased by 8.2% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO GIVE HOPE AND SUPPORT TO WASHTENAW COMMUNITY COLLEGE STUDENTS THROUGH SCHOLARSHIPS AND OTHER PHILANTHROPIC SUPPORT.
Describe the Organization's Program Activity:
THE FOUNDATION IS ORGANIZED TO PROVIDE GIFTS AND GRANTS TO WASHTENAW COMMUNITY COLLEGE AND TO ITS STUDENTS, FACULTY AND STAFF IN FURTHERANCE OF THE EDUCATIONAL PURPOSES OF WASHTENAW COMMUNITY COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Boonin Chair | OfficerTrustee | 3 | $0 |
Cindy Byrne Treasurer | OfficerTrustee | 2 | $0 |
Katherine Farrell Chair-Emerit | OfficerTrustee | 1 | $0 |
Bhushan Kulkarni Secretary | OfficerTrustee | 2 | $0 |
Alex Milshteyn Chair Elect | OfficerTrustee | 2 | $0 |
Dr Rose Bellanca Wcc Presiden | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $79,937 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,073,426 |
| Noncash contributions included in lines 1a–1f | $529,756 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,153,363 |
| Total Program Service Revenue | $0 |
| Investment income | $82 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $408 |
| Net Income from Fundraising Events | -$39,407 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,130,032 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,553,502 |
| 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 | $68,242 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $40,078 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $81,321 |
| Fees for services: Other | $0 |
| Advertising and promotion | $17,762 |
| Office expenses | $368 |
| Information technology | $27,761 |
| 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 | $1,094 |
| All other expenses | $5,254 |
| Total functional expenses | $1,803,182 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $338,949 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $98,171 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,802 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $28,339,689 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $489,939 |
| Total assets | $29,277,550 |
| Accounts payable and accrued expenses | $67,212 |
| Grants payable | $0 |
| 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 | $125,382 |
| Total liabilities | $192,594 |
| Net assets without donor restrictions | $1,950,748 |
| Net assets with donor restrictions | $27,134,208 |
| 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 | $29,277,550 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that Washtenaw Community College Foundation has recieved totaling $283,107.
| Awarding Organization | Amount |
|---|---|
Ann Arbor Area Community Foundation Ann Arbor, MI PURPOSE: EDUCATION/INSTRUCTION | $155,527 |
Speyer Foundation Detroit, MI PURPOSE: IN MEMORY OF THOMAS AND | $39,982 |
Community Foundation For Southeast Michigan Detroit, MI PURPOSE: GENERAL OPERATIONS | $30,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $21,750 |
Seth Bonder Foundation Independence, OH PURPOSE: CAPITAL CAMPAIGN - $10,000 | $10,000 |
Graco Foundation Minneapolis, MN PURPOSE: SCHOLARSHIP AWARDS | $10,000 |
Endowment Analysis
| Beg. Balance | $28,418,020 |
| Earnings | -$2,639,483 |
| Net Contributions | $1,677,203 |
| Grants | $1,106,258 |
| Ending Balance | $26,349,482 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Finlandia University Hancock, MI | $36,184,751 | $18,081,025 |
Christ College Of Nursing Andhealth Sciences Cincinnati, OH | $10,994,626 | $16,669,063 |
Ancilla Domini College Plymouth, IN | $0 | $14,414,276 |
Baker College Flint, MI | $17,958,758 | $9,486,714 |
College Of The Menominee Nation Keshena, WI | $15,783,806 | $11,637,458 |
Lac Courte Oreilles Ojibwe College Hayward, WI | $16,000,980 | $10,229,989 |
The Chatfield Edge St Martin, OH | $13,777,194 | $3,802,569 |
Delta College Foundation University Center, MI | $1,992,755 | $2,619,212 |
Alpena Community College Foundation Alpena, MI | $9,851,824 | $3,064,621 |
Washtenaw Community College Foundation Ann Arbor, MI | $29,277,550 | $2,130,032 |
Kalamazoo Valley Community College Foundation Kalamazoo, MI | $35,775,413 | $2,600,005 |
Kalamazoo Valley Community College Holding Company Kalamazoo, MI | $1,050,776 | $291 |