Fremont Area Elderly Needs Fund
- Assets
- $12.7m
- Revenue
- $495.9k
- Investments
- $12.7m
- Employees
- 0
- Location
- Fremont, MI
- Founding
- 05/1993
- Data as of
- 12/2023
- EIN
- 38-3072183
Organization Overview
Fremont Area Elderly Needs Fund, operating under the name Bridging Generations Fund, is located in Fremont, MI. The organization was established in 1993. According to its NTEE Classification (P12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bridging Generations Fund 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 12/2023, Bridging Generations Fund generated $495.9k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $507.0k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Bridging Generations Fund has awarded 50 individual grants totaling $3,245,631. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO COMPLEMENT AND SUPPLEMENT THE CHARITABLE OBJECTIVES OF FREMONT AREA COMMUNITY FOUNDATION BY MAKING GRANTS TO CHARITABLE ORGANIZATIONS THAT SERVE THE OLDER ADULT POPULATION OF NEWAYGO COUNTY AND THE SURROUNDING WEST MICHIGAN AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO COMPLEMENT AND SUPPLEMENT THE CHARITABLE OBJECTIVES OF FREMONT AREA COMMUNITY FOUNDATION BY MAKING GRANTS TO CHARITABLE ORGANIZATIONS THAT SERVE THE ELDERLY POPULATION OF NEWAYGO COUNTY AND THE SURROUNDING WESTERN MICHIGAN AREA. GRANTS INCLUDE TRANSPORTATION AND IMPROVING THE QUALITY OF LIFE FOR SENIOR CITIZENS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Vice President | OfficerTrustee | 1 | $0 |
Name Not Listed Secretary / Treasurer | OfficerTrustee | 1 | $0 |
Name Not Listed President | OfficerTrustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed 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 | $139 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $139 |
| Total Program Service Revenue | $0 |
| Investment income | $383,288 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $112,433 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $495,860 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $353,406 |
| 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 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 | $135,755 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,485 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $930 |
| 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 | $840 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,716 |
| All other expenses | $0 |
| Total functional expenses | $506,980 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,000 |
| Savings and temporary cash investments | $0 |
| 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 | $2,747 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $12,666,396 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,713,143 |
| Accounts payable and accrued expenses | $44,000 |
| Grants payable | $278,200 |
| 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 | $322,200 |
| Net assets without donor restrictions | $12,390,943 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $12,713,143 |
Grants Awarded
Over the last fiscal year, Fremont Area Elderly Needs Fund has awarded $376,726 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CATHOLIC CHARITIES WEST MICHIGAN PURPOSE: SENIOR COMPANION PROGRAM, ONE TOWNSHIP AT A TIME | $160,000 |
REEMAN CHRISTIAN REFORMED CHURCH PURPOSE: GRANDFRIENDS PROGRAM, WELLSPRING ADULT DAY CARE SERVICES RESTROOM ACCESSIBILITY | $19,726 |
TRUENORTH COMMUNITY SERVICES PURPOSE: COMMUNITY CONNECTIONS 2023 | $100,000 |
BELLWETHER HARBOR PURPOSE: FOSTERING FOR A BETTER LIFE PROGRAM | $44,000 |
NEWAYGO COUNTY COMMISSION ON AGING PURPOSE: AGING IN PLACE IN NEWAYGO COUNTY, COA SENIOR TRIPS | $53,000 |