North Central Michigan College Foundation
- Assets
- $11.8m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Petoskey, MI
- Founding
- 04/1990
- Data as of
- 06/2021
- EIN
- 38-2910328
Organization Overview
North Central Michigan College Foundation is located in Petoskey, MI. The organization was established in 1990. According to its NTEE Classification (B42) the organization is classified as: Undergraduate 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. North Central Michigan 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 06/2021, North Central Michigan College Foundation generated $3.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 38.0% each year . All expenses for the organization totaled $3.6m during the year ending 06/2021. While expenses have increased by 33.1% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO INITIATE PHILANTHROPY IN PARTNERSHIP WITH NORTH CENTRAL MICHIGAN COLLEGE AND THE COMMUNITY IN ORDER TO PROVIDE FINANCIAL SUPPORT FOR THE MISSION AND GOALS OF THE COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL GRANTS TO NORTH CENTRAL MICHIGAN COLLEGE ARE FOR EDUCATIONAL PURPOSES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Schroeder Vice Chair | OfficerTrustee | 1 | $0 |
Chris Etienne Chair | OfficerTrustee | 1 | $0 |
John Marshall Secretary | OfficerTrustee | 1 | $0 |
Max R Bunker Treasurer | OfficerTrustee | 1 | $0 |
David Finley College President | OfficerTrustee | 1 | $0 |
Chelsea Platte Executive Director | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,921,051 |
| Investment income | $80,285 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $122,946 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,124,282 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $55,895 |
| Fees for services: Investment Management | $14,506 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,592,111 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $225,159 |
| Savings and temporary cash investments | $196,560 |
| Pledges and grants receivable | $1,573,632 |
| 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 |
| Investments—publicly traded securities | $9,845,500 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,840,851 |
| Accounts payable and accrued expenses | $1,523 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $5,293,034 |
| 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 | $0 |
| Total liabilities | $5,294,557 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $6,546,294 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that North Central Michigan College Foundation has recieved totaling $1,476,000.
| Awarding Organization | Amount |
|---|---|
Petoskey-Harbor Springs Area Community Foundation Petoskey, MI PURPOSE: 2021 ANNUAL ALLOCATION FROM MATHIAS MEMORIAL SCHOLARSHIP FUND/GENERAL SUPPORT/TO BE USED AT THE DISCRETION OF NCMC PRESIDENT, DR. DAVID ROLAND FINLEY, PER CORRESPONDENCE WITH MR. FREY ABOUT BOARD DEVELOPMENT/TO SUPPORT NCMC'S CHILD CARE INITIATIVE, AS DESCRIBED IN NCMC'S JANUARY 2022 GRANT APPLICATION/2021 ANNUAL ALLOCATION FROM MATHIAS NCMC FOUNDATION FUND/GENERAL SUPPORT/BUILDING TOMORROW TOGETHER CAMPAIGN/FOR THE NCMC CAMPUS CUPBOARD, IN HONOR OF GAME DINNER ORGANIZERS DAVID AND DALE MEYER OR MEYER ACE HARDWARE/$1000 TO "NAMED SCHOLARSHIPS; $1000 TO THE GENERAL FUND/TO BE USED AT THE DISCRETION OF NCMC PRESIDENT, DR. DAVID ROLAND FINLEY/GENERAL SUPPORT/THE BUILDING TOMORROW TOGETHER CAMPAIGN/BUILDING TOMORROW TOGETHER CAPITAL CAMPAIGN/UNRESTRICTED GIFT/2021 ANNUAL ALLOCATION FROM GERMOND FUND FOR SCHOLARSHIPS/2021 ANNUAL ALLOCATION FROM WINNELL SCHOLARSHIP FUND/STUDENT COMMONS LOBBY/BUILDING TOMORROW TOGETHER CAMPAIGN - 2ND OF 4 ANNUAL INSTALLMENTS/BUILDING TOMORROW TOGETHER/BUILDI | $430,035 |
William J And Julia M Edwards Foundation Petoskey, MI PURPOSE: EDUCATIONAL | $250,000 |
Frey Foundation Grand Rapids, MI PURPOSE: BUILDING TOMORROW TOGETHER CAPITAL CAMPAIGN | $250,000 |
The Meijer Foundation Grand Rapids, MI PURPOSE: CAPITAL CAMPAIGN | $200,000 |
The Meijer Foundation Grand Rapids, MI PURPOSE: CAPITAL CAMPAIGN | $100,000 |
Victor Foundation Clarkston, MI PURPOSE: GENERAL FUND | $75,000 |
Endowment Analysis
| Beg. Balance | $1,015,948 |
| Earnings | $167,671 |
| Net Contributions | $532,589 |
| Grants | $31,004 |
| Ending Balance | $1,685,204 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Baker College Flint, MI | $33,908,610 | $19,974,450 |
Baker College Flint, MI | $26,174,553 | $16,788,668 |
Calumet College Whiting, IN | $23,910,768 | $16,116,296 |
Bellin College Inc Green Bay, WI | $39,042,736 | $15,163,582 |
Wilberforce University Wilberforce, OH | $28,180,485 | $40,652,171 |
Grace Christian University Wyoming, MI | $13,530,874 | $15,083,160 |
Art Academy Of Cincinnati Cincinnati, OH | $6,583,513 | $9,495,180 |
Pontifical College Josephinum Columbus, OH | $57,627,425 | $9,311,900 |
Baker College Flint, MI | $15,732,306 | $4,978,817 |
Kuyper College Grand Rapids, MI | $13,506,417 | $6,841,093 |
Gods Bible School College And Missionary Training Home Cincinnati, OH | $9,412,262 | $6,100,308 |
Michigan Colleges Alliance Southfield, MI | $5,177,739 | $4,811,451 |