Grand Rapids Community Foundation
- Assets
- $404.1m
- Revenue
- $8.7m
- Investments
- $72.8m
- Employees
- 38
- Location
- Grand Rapids, MI
- Founding
- 08/1989
- Data as of
- 06/2023
- EIN
- 38-2877959
Organization Overview
Grand Rapids Community Foundation, operating under the name The Grand Rapids Foundation, is located in Grand Rapids, MI. The organization was established in 1989. 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 06/2023, Grand Rapids Foundation employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grand Rapids 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, Grand Rapids Foundation generated $8.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (11.1%) each year. All expenses for the organization totaled $24.6m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Grand Rapids Foundation has awarded 2,345 individual grants totaling $112,547,208. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD THE CAPACITY OF THE NONPROFIT SECTOR, THE COMMUNITY FOUNDATION INVESTS IN INNOVATIVE MODELS, PROVEN PROGRAMS, POLICY AND ADVOCACY EFFORTS THROUGHOUT KENT COUNTY.
Describe the Organization's Program Activity:
GRANTS AND SCHOLARSHIPS 1) GREATER GRAND RAPIDS NAACP - TO SUPPORT ONGOING WORK OF DISMANTLING RACIAL DISCRIMINATION BY BUILDING INTERNAL CAPACITY. $420,000 GRANT.2) UNITED METHODIST COMMUNITY HOUSE - TO PROVIDE CULTURALLY EFFECTIVE SERVICES FOR OLDER ADULTS. $400,000 GRANT.3) HISPANIC CENTER OF WESTERN MICHIGAN - SUPPORT FOR HISPANIC COMMUNITY TO ACHEIVE EQUITY AND PERSONALIZED PROSPERITY. $375,000 GRANT.
CHARITABLE AND PHILANTHROPIC OPERATING EXPENSES ASSOCIATED WITH PROCESSING THE FOUNDATION'S GRANT APPLICATIONS, COMMUNITY LEADERSHIP ACTIVITIES AND PHILANTHROPIC SERVICES TO THE NON-PROFIT FIELD.
COMMUNITY INITIATIVES AND PROGRAM EXPENSES THOSE EXPENSES THAT COVER ACTIVITIES THAT COULD BE CARRIED OUT BY A PROGRAM WITH ITS OWN OR OTHERS' RESOURCES. CURRENTLY, THESE INITIATIVES ARE FOCUSED ON K-12 EDUCATION IN THE CITY OF GRAND RAPIDS. THESE ARE EXPENSES FOR SERVICES OR PROGRAM MATERIALS THAT ARE PAID TO PERSONS/ORGANIZATIONS THAT ARE NOT NOT-FOR-PROFITS. THESE INCLUDE ITEMS SUCH AS CONSULTING FEES FOR A PROJECT OR GENERAL OPERATING EXPENSES OF A FUND.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kyle Caldwell Chair | OfficerTrustee | 1 | $0 |
Renee Williams Vice Chair | OfficerTrustee | 1 | $0 |
Brandy Lovelady Mitchell Trustee | Trustee | 1 | $0 |
Kathleen Vogelsang Trustee | Trustee | 1 | $0 |
Daniel Williams Trustee | Trustee | 1 | $0 |
Ken Fawcett Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
New England Pension Consultants Investment Advisors | 6/29/23 | $358,085 |
Silchester International Inv Investment Managers | 6/29/23 | $184,050 |
Brown Capital Management Investment Managers | 6/29/23 | $144,337 |
City Of London Investment Group Investment Managers | 6/29/23 | $154,289 |
Frontenac Investment Managers | 6/29/23 | $130,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $3,070 |
| Membership dues | $0 |
| Fundraising events | $15,780 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,956,630 |
| Noncash contributions included in lines 1a–1f | $1,616,819 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,975,480 |
| Total Program Service Revenue | $0 |
| Investment income | $6,468,914 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,741,914 |
| Net Income from Fundraising Events | -$5,489 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,730,097 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,591,935 |
| Grants and other assistance to domestic individuals. | $1,421,588 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,145,199 |
| Compensation of current officers, directors, key employees. | $580,368 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,037,739 |
| Pension plan accruals and contributions | $193,387 |
| Other employee benefits | $399,488 |
| Payroll taxes | $230,547 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $814 |
| Fees for services: Accounting | $59,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,886,944 |
| Fees for services: Other | $27,121 |
| Advertising and promotion | $0 |
| Office expenses | $278,668 |
| Information technology | $104,750 |
| Royalties | $0 |
| Occupancy | $138,096 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $72,499 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $135,886 |
| Insurance | $0 |
| All other expenses | $259,025 |
| Total functional expenses | $24,643,946 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,146,063 |
| Pledges and grants receivable | $4,777,369 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,928,313 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $67,442 |
| Net Land, buildings, and equipment | $3,029,632 |
| Investments—publicly traded securities | $308,216,446 |
| Investments—other securities | $72,820,811 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,155,745 |
| Total assets | $404,141,821 |
| Accounts payable and accrued expenses | $2,254,975 |
| Grants payable | $4,712,397 |
| 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 | $1,466,000 |
| Total liabilities | $8,433,372 |
| Net assets without donor restrictions | $372,440,331 |
| Net assets with donor restrictions | $23,268,118 |
| 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 | $404,141,821 |
Grants Awarded
Over the last fiscal year, Grand Rapids Community Foundation has awarded $15,591,935 in support to 280 organizations.
| Grant Recipient | Amount |
|---|---|
1000 FAMILIES OF COLOR PURPOSE: 1000 FAMILIES OF COLOR BLACK LEGACY | $24,000 |
15 PEARLS AND A PROMISE PURPOSE: INCREASING OPPORTUNITIES FOR BLACK YOUTH | $44,500 |
70 X 7 LIFE RECOVERY PURPOSE: GENERAL OPERATING SUPPORT | $100,000 |
A GLIMPSE OF AFRICA PURPOSE: GENERAL OPERATING SUPPORT | $110,000 |
ADOPTION ASSOCIATES INC PURPOSE: GRANT FUND FOR ADOPTIVE FAMILIES | $12,000 |
AFFINITY MENTORING PURPOSE: GENERAL OPERATING SUPPORT | $7,000 |