Dick And Betsy Devos Family Foundation
- Assets
- $57.8m
- Revenue
- $17.0m
- Investments
- $56.4m
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 07/1990
- Data as of
- 12/2022
- EIN
- 38-2902412
Organization Overview
Dick And Betsy Devos Family Foundation is located in Grand Rapids, MI. The organization was established in 1990. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dick And Betsy Devos Family 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 12/2022, Dick And Betsy Devos Family Foundation generated $17.0m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $9.2m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Dick And Betsy Devos Family Foundation has awarded 460 individual grants totaling $33,735,700. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard M Devos Jr President/director | 1 | $0 | |
Elisabeth Prince Devos Director | 1 | $0 | |
Robert H Schierbeek Vp/coo | 0.1 | $0 | |
Jeffrey S Bowerman VP Of Tax | 0.1 | $0 | |
Susan E Valcq Treasurer/secretary | 0.1 | $0 | |
Nicholas J Thole Vice President | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rdv Corporation | 12/30/22 | $341,619 |
Ottawa Avenue Private Capital | 12/30/22 | $201,201 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $551 |
| Dividends & Interest | $198,775 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $497,916 |
| Capital Gain Net Income | $15,924,289 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $16,275,659 |
| Total Revenue | $16,972,901 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $43,236 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $203 |
| Printing and publications | $0 |
| Other expenses | $149 |
| Total operating and administrative expenses | $589,567 |
| Contributions, gifts, grants paid | $8,657,300 |
| Total expenses and disbursements | $9,246,867 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $83,515 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $39,613,865 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $1,344,000 |
| Total assets | $57,782,067 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $212 |
| Total liabilities | $212 |
Grants Awarded
Over the last fiscal year, Dick And Betsy Devos Family Foundation has awarded $9,912,300 in support to 142 organizations.
| Grant Recipient | Amount |
|---|---|
ACTON INSTITUTE FOR THE STUDY OF RELIGION AND LIBERTY PURPOSE: GENERAL OPERATING | $127,500 |
ACTON INSTITUTE FOR THE STUDY OF RELIGION AND LIBERTY PURPOSE: PROJECT/PROGRAM - FR. ROBERT SIRICO LEGACY AWARD | $125,000 |
ALPHA USA PURPOSE: GENERAL OPERATING | $100,000 |
AMERICAN ENTERPRISE INSTITUTE PURPOSE: GENERAL OPERATING | $250,000 |
AMERICAN ENTERPRISE INSTITUTE PURPOSE: PROJECT/PROGRAM - STRATEGIC VENTURE FUND | $125,000 |
AOPA FOUNDATION PURPOSE: GENERAL OPERATING | $1,000 |