Petoskey-Harbor Springs Area Community Foundation
- Assets
- $61.2m
- Revenue
- $9.3m
- Investments
- $0.0
- Employees
- 6
- Location
- Petoskey, MI
- Founding
- 05/1992
- Data as of
- 03/2024
- EIN
- 38-3032185
Organization Overview
Petoskey-Harbor Springs Area Community Foundation is located in Petoskey, MI. The organization was established in 1992. 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 03/2024, Petoskey-Harbor Springs Area Community Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Petoskey-Harbor Springs Area Community 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 03/2024, Petoskey-Harbor Springs Area Community Foundation generated $9.3m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $9.2m during the year ending 03/2024. While expenses have increased by 11.6% per year over the past 9 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 2016, Petoskey-Harbor Springs Area Community Foundation has awarded 924 individual grants totaling $30,411,399. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE COMMUNITY FOUNDATION IS MADE UP OF AN EVER-GROWING FAMILY OF FUNDS. EACH ONE IS ESTABLISHED BY AN INDIVIDUAL, FAMILY, OR ORGANIZATION TO CARRY OUT CHARITABLE WORKS AND LEAVE A LASTING LEGACY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COMMUNITY FOUNDATION MAKES GRANTS FOR CHARITABLE PURPOSES TO VARIOUS 501(C)(3) AND GOVERNMENT ORGANIZATIONS IN THE FOLLOWING AREAS: ARTS AND CULTURE, EDUCATION, ENVIRONMENT, COMMUNITY AND ECONOMIC DEVELOPMENT, HEALTH, HUMAN SERVICES, RECREATION, HISTORIC PRESERVATION, AND YOUTH DEVELOPMENT. ALL GRANT RECOMMENDATIONS ARE REVIEWED AND APPROVED BY THE COMMUNITY FOUNDATION'S BOARD OF DIRECTORS. DONOR ADVISED FUNDS RECOMMENDED 794 GRANTS TO SUPPORT ORGANIZATIONS THEY VALUE. THE UNRESTRICTED FUND'S DISTRIBUTION COMMITTEE AND THE YOUTH FUND'S YOUTH ADVISORY COMMITTEE RECOMMENDED 42 GRANTS TO ORGANIZATIONS SERVING A SIGNIFICANT NUMBER OF EMMET COUNTY RESIDENTS. THE ADVISORY COMMITTEE FOR FIELD OF INTEREST FUNDS, INCLUDING FUNDS SUPPORTING SENIORS, CHILDREN, HOUSING OR THE ENVIRONMENT, RECOMMENDED 108 GRANTS TO ORGANIZATIONS IN CORRESPONDING FIELDS. THE SCHOLARSHIP COMMITTEE RECOMMENDED VARIOUS SCHOLARSHIP AWARDS OF 52 GRANTS TO LOCAL STUDENTS WHO ARE PURSUING EDUCATION BEYOND HIGH SCHOOL. A TOTAL OF 1,095 GRANTS WERE AWARDED FROM COMMUNITY FOUNDATION FUNDS DURING THIS TIME PERIOD TO IMPROVE AND ENRICH LIFE IN EMMET COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Janet M Mancinelli Trustee | Trustee | 1 | $0 |
Robert E Keedy Trustee | Trustee | 1 | $0 |
Mary E Rapin Trustee | Trustee | 1 | $0 |
Sarah L Shuman Trustee | Trustee | 1 | $0 |
Kathryn S Erber Trustee | Trustee | 1 | $0 |
Jennifer H Attie Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,685,955 |
| Noncash contributions included in lines 1a–1f | $1,851,287 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,685,955 |
| Total Program Service Revenue | $0 |
| Investment income | $1,145,418 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,433,305 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,300,684 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,302,032 |
| Grants and other assistance to domestic individuals. | $66,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $130,924 |
| Compensation of current officers, directors, key employees. | $98,193 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $269,215 |
| Pension plan accruals and contributions | $19,385 |
| Other employee benefits | $39,060 |
| Payroll taxes | $31,813 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,325 |
| Fees for services: Accounting | $12,668 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $51,568 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $27,716 |
| Information technology | $60,546 |
| Royalties | $0 |
| Occupancy | $87,781 |
| Travel | $9,788 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,925 |
| Interest | $3,000 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,880 |
| Insurance | $8,178 |
| All other expenses | $13,175 |
| Total functional expenses | $9,217,826 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,908 |
| Savings and temporary cash investments | $7,680,539 |
| Pledges and grants receivable | $863,448 |
| 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 | $19,125 |
| Net Land, buildings, and equipment | $11,900 |
| Investments—publicly traded securities | $52,301,972 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $330,173 |
| Total assets | $61,226,065 |
| Accounts payable and accrued expenses | $344 |
| Grants payable | $49,456 |
| 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 | $13,470,255 |
| Total liabilities | $13,520,055 |
| Net assets without donor restrictions | $26,626,071 |
| Net assets with donor restrictions | $21,079,939 |
| 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 | $61,226,065 |
Grants Awarded
Over the last fiscal year, Petoskey-Harbor Springs Area Community Foundation has awarded $6,043,180 in support to 112 organizations.
| Grant Recipient | Amount |
|---|---|
ACCOUNTING AID SOCIETY PURPOSE: IN MEMORY OF, MICHAEL THAIN CAMERON AND MARTHA CAVANAGH CAMERON TO BE USED FOR THE TAX ASSISTANCE OR NON-PROFIT SERVICES PROGRAMS. | $7,576 |
ALANSON BEAUTIFICATION CENTER PURPOSE: SPRING 2023 GRANT CYCLE - KEEP ALANSON BEAUTIFUL | $7,650 |
ALETHA'S LEGACY PURPOSE: SCHOOL BUILDING PROJECT | $25,000 |
AYUDAMOS CARIB PURPOSE: GENERAL SUPPORT | $10,000 |
BAY BLUFFS- EMMET COUNTY MEDICAL CARE FACILITY PURPOSE: SPRING 2023 GRANT CYCLE - WORKFORCE CAPACITY BUILDING CAMPAIGN, 2023 ANNUAL INCOME ALLOCATION FROM AGATHA O. BOETTGER SENIOR CITIZEN FUND | $18,402 |
BOY SCOUTS TROOP #5 PURPOSE: GENERAL SUPPORT, SCHOLARSHIPS, POP CORN MACHINE PROJECT, 2024 REGISTRATION SCHOLARSHIPS | $57,500 |