Gratiot County Community Foundation
- Assets
- $15.1m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 4
- Location
- Ithaca, MI
- Founding
- 04/1993
- Data as of
- 09/2022
- EIN
- 38-3087756
Organization Overview
Gratiot County Community Foundation is located in Ithaca, MI. The organization was established in 1993. 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 09/2022, Gratiot County Community Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gratiot County 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 09/2022, Gratiot County Community Foundation generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $998.0k during the year ending 09/2022. While expenses have increased by 4.4% 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.
Since 2015, Gratiot County Community Foundation has awarded 162 individual grants totaling $2,832,049. 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
TO RECEIVE AND ACCEPT PROPERTY THAT WILL BE EXCLUSIVELY USED FOR CHARITABLE PURPOSES, PRIMARILY FOR THE BENEFIT OF GRATIOT COUNTY RESIDENTS AND INSTITUTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS AND SCHOLARSHIPS AWARDED FOR COMMUNITY PROJECTS AND PROGRAMS IN FIELDS OF EDUCATION, HEALTH, HUMAN SERVICES, ARTS, CULTURE AND COMMUNITY SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chelsea Holmes Executive Di | Officer | 40 | $69,064 |
Jim Wheeler Treasurer | OfficerTrustee | 1 | $0 |
Laura Bever Secretary | OfficerTrustee | 1 | $0 |
Ali Barnes Vice Preside | OfficerTrustee | 1 | $0 |
Tim Lambrecht President | OfficerTrustee | 1 | $0 |
Mike Miller 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 | $514,022 |
| Noncash contributions included in lines 1a–1f | $21,129 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $514,022 |
| Total Program Service Revenue | $13,051 |
| Investment income | $366,777 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $284,257 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,181,707 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $511,570 |
| Grants and other assistance to domestic individuals. | $184,995 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $69,055 |
| Compensation of current officers, directors, key employees. | $44,886 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $74,252 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,670 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,930 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $55,969 |
| Fees for services: Other | $2,378 |
| Advertising and promotion | $135 |
| Office expenses | $10,404 |
| Information technology | $28,462 |
| 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 | $1,921 |
| Interest | $4,449 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,293 |
| Insurance | $3,808 |
| All other expenses | $1,406 |
| Total functional expenses | $998,007 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $224,129 |
| Savings and temporary cash investments | $209,420 |
| Pledges and grants receivable | $2,750 |
| 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 | $4,839 |
| Net Land, buildings, and equipment | $219,894 |
| Investments—publicly traded securities | $14,338,647 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $134,491 |
| Total assets | $15,134,170 |
| Accounts payable and accrued expenses | $7,305 |
| Grants payable | $166,518 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $820,363 |
| 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 | $994,186 |
| Net assets without donor restrictions | $14,004,243 |
| Net assets with donor restrictions | $135,741 |
| 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 | $15,134,170 |
Grants Awarded
Over the last fiscal year, Gratiot County Community Foundation has awarded $341,838 in support to 25 organizations.
| Grant Recipient | Amount |
|---|---|
ASHLEY COMMUNITY SCHOOLS PURPOSE: STUDENT SUPPORT | $34,900 |
Ithaca, MI PURPOSE: DESIGNATED | $24,000 |
Alma, MI PURPOSE: PROGRAM EDUCATION | $20,000 |
BRECKENRIDGE COMMUNITY SCHOOLS PURPOSE: GYM AND MUSIC EQUIP. | $18,006 |
ST LOUIS PUBLIC SCHOOLS PURPOSE: STUDENT SUPPORT | $15,500 |
GRATIOT COUNTY DEPARTMENT OFVETERANS' AFFAIRS PURPOSE: VETERANS SUPPORT | $15,200 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Gratiot County Community Foundation has recieved totaling $9,903.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $8,891 |
Consumers Energy Foundation Jackson, MI PURPOSE: EMPLOYEE/RETIREE MATCHING GIFT | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $12 |
Endowment Analysis
| Beg. Balance | $16,362,135 |
| Earnings | -$2,376,192 |
| Net Contributions | $536,872 |
| Grants | $976,855 |
| Ending Balance | $13,545,960 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Foundation For Southeast Michigan Detroit, MI | $1,124,768,291 | $250,946,101 |
Greater Milwaukee Foundation Inc Milwaukee, WI | $1,114,706,959 | $151,763,598 |
Thrivent Charitable Impact & Investing Appleton, WI | $809,708,853 | $138,812,775 |
Central Indiana Community Foundation Inc Indianapolis, IN | $548,109,976 | $56,175,018 |
Greater Green Bay Community Foundation Inc Green Bay, WI | $158,723,657 | $42,186,646 |
Community Foundation For The Fox Valley Region Inc Appleton, WI | $500,269,949 | $60,999,391 |
Dayton Foundation Dayton, OH | $614,105,736 | $82,530,515 |
Madison Community Foundation Madison, WI | $285,628,719 | $40,248,600 |
Battle Creek Community Foundation Battle Creek, MI | $135,380,333 | $32,635,612 |
Kalamazoo Community Foundation Kalamazoo, MI | $677,092,659 | $78,067,850 |
Grand Rapids Community Foundation Grand Rapids, MI | $425,971,455 | $49,247,168 |
Akron Community Foundation Akron, OH | $274,088,705 | $39,277,326 |