Grand Traverse Regional Community Foundation
- Assets
- $86.2m
- Revenue
- $5.1m
- Investments
- $750.0k
- Employees
- 10
- Location
- Traverse City, MI
- Founding
- 08/1992
- Data as of
- 12/2022
- EIN
- 38-3056434
Organization Overview
Grand Traverse Regional Community Foundation is located in Traverse City, 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 12/2022, Grand Traverse Regional Community Foundation employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grand Traverse Regional 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 12/2022, Grand Traverse Regional Community Foundation generated $5.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $5.0m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Grand Traverse Regional Community Foundation has awarded 1,272 individual grants totaling $17,533,307. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
WE INVEST IN THE PEOPLE AND PLACES OF OUR REGION AND STEWARD ASSETS FOR LASTING IMPACT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES COMMUNITY SERVICE AND SUPPORT BY PROVIDING GRANTS TO 501(C)(3) NONPROFIT, MUNICIPAL, TRIBAL AND EDUCATIONAL PARTNERS. THE FOUNDATION SERVES ANTRIM, BENZIE, GRAND TRAVERSE, KALKASKA, AND LEELANAU COUNTIES BY MAKING LOCAL IMPACT IN THE COMMUNITIES THROUGHOUT THIS FIVE-COUNTY REGION. IN 2022, THE FOUNDATION PROVIDED GRANTS TO 118 ORGANIZATIONS.
THE FOUNDATION PROVIDES SCHOLARSHIP AWARDS TO STUDENTS IN ALL FIVE COUNTIES TO HELP THEM PURSUE CONTINUING EDUCATION OPPORTUNITIES IN EITHER A TRADITIONAL COLLEGE ENVIRONMENT OR AT A TECHNICAL OR TRADE SCHOOL. SCHOLARSHIPS HELP PROMOTE THE FOUNDATION'S FOCUS AREAS OF EDUCATION AND YOUTH WHILE IMPROVING THE QUALITY OF LIFE IN OUR REGION AND EASING THE FINANCIAL BURDEN OF SECONDARY EDUCATION FOR AREA RESIDENTS. IN 2022, THERE WERE 175 SCHOLARSHIP RECIPIENTS.
IN RECENT YEARS, THE FOUNDATION HAS INCREASILY PLAYED A COLLABORATIVE LEADERSHIP ROLE IN THE REGION. THIS INCLUDES CONVENING CROSS-SECTOR LEADERS TO DEVELOP AND IMPLEMENT A COMMUNITY DEVELOPMENT STRATEGY. WITH PARTNERS ACROSS THE REGION, THE FOUNDATION IS WORKING TO MOVE THE NEEDLE IN AREAS OF GREATEST NEED BY WORKING TOGETHER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Beamsley Chair | OfficerTrustee | 2 | $0 |
Jerry Ring Vice Chair | OfficerTrustee | 2 | $0 |
Beth Dunckel Treasurer | OfficerTrustee | 2 | $0 |
Cash Cook Secretary | OfficerTrustee | 2 | $0 |
Laura Asiala Director | Trustee | 1 | $0 |
Jurgen Griswold Director | 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 | $1,603,495 |
| Noncash contributions included in lines 1a–1f | $81,363 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,603,495 |
| Total Program Service Revenue | $0 |
| Investment income | $2,348,196 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,099,994 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,051,685 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,116,010 |
| Grants and other assistance to domestic individuals. | $324,988 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $151,980 |
| Compensation of current officers, directors, key employees. | $50,762 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $555,358 |
| Pension plan accruals and contributions | $55,321 |
| Other employee benefits | $61,585 |
| Payroll taxes | $51,939 |
| Fees for services: Management | $167,161 |
| Fees for services: Legal | $2,295 |
| Fees for services: Accounting | $19,448 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $95,470 |
| Fees for services: Other | $0 |
| Advertising and promotion | $105,809 |
| Office expenses | $25,188 |
| Information technology | $69,244 |
| Royalties | $0 |
| Occupancy | $75,873 |
| Travel | $10,376 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $32,228 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,661 |
| All other expenses | $0 |
| Total functional expenses | $4,956,807 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $211,291 |
| Savings and temporary cash investments | $23,739 |
| Pledges and grants receivable | $0 |
| 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 | $16,008 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $85,231,199 |
| Investments—other securities | $750,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $86,232,237 |
| Accounts payable and accrued expenses | $30,183 |
| Grants payable | $45,494 |
| 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 | $0 |
| Total liabilities | $75,677 |
| Net assets without donor restrictions | $1,306,585 |
| Net assets with donor restrictions | $84,849,975 |
| 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 | $86,232,237 |
Grants Awarded
Over the last fiscal year, Grand Traverse Regional Community Foundation has awarded $2,869,549 in support to 118 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN RED CROSS NORTHERN MI CHAPTER PURPOSE: HUMAN SERVICES | $14,000 |
5LOAVES2FISH NMI PURPOSE: HUMAN SERVICES | $27,250 |
ANTRIM COUNTY PURPOSE: ENVIRONMENTAL | $9,350 |
ACME CHRISTIAN THRIFT STORE & FOOD PANTRY (ACTS) PURPOSE: HUMAN SERVICES | $25,150 |
ACME TOWNSHIP PURPOSE: ENVIRONMENTAL | $10,820 |
ARTS FOR ALL OF NORTHERN MICHIGAN PURPOSE: YOUTH DEVELOPMENT | $13,350 |