Grand Action Foundation 2 0
- Assets
- $21.4m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 04/1994
- Data as of
- 03/2023
- EIN
- 38-3147133
Organization Overview
Grand Action Foundation 2 0 is located in Grand Rapids, MI. The organization was established in 1994. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grand Action Foundation 2 0 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 03/2023, Grand Action Foundation 2 0 generated $3.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (14.7%) each year. All expenses for the organization totaled $2.7m during the year ending 03/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE ECONOMIC & CULTURAL DEVELOPMENT OF GRAND RAPIDS, MI
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS PART OF THE 2.0 LAUNCH, GRAND ACTION FOUNDATION HAS REENGAGED CONVENTION SPORTS AND LEISURE INTERNATIONAL (CSL) TO PROVIDE UPDATES ON INITIATIVES AND RECOMMENDATIONS WHICH WERE IDENTIFIED IN THE ORIGINAL DESTINATION ASSET STUDY CONDUCTED FOUR YEARS AGO. THE PROJECTS IDENTIFIED INCLUDE PENDING OPPORTUNITIES FOR EXPLORATION AS FUTURE GRAND ACTION PROJECTS WHICH MAY CONSIST OF: AN EXPANSION OF DEVOS PLACE, THE CONSTRUCTION OF AN OUTDOOR AMPHITHEATER, THE CONSTRUCTION OF A SOCCER/FIELD SPORTS ARENA, OR AN AERIAL TRANSPORTATION/GONDOLA PROJECT. THE RESEARCH WILL ASSIST GRAND ACTION IN DEVELOPING A PLAN AND STRATEGIES FOR FUTURE INVESTMENT IN DESTINATION ASSETS AND THE ECONOMIC DEVELOPMENT OF GRAND RAPIDS. GRAND ACTION FOUNDATION'S ROLE IS IN PROVIDING FINANCIAL SUPPORT FOR THESE STUDIES AND CONSTRUCTION OF POTENTIAL FUTURE PROJECTS.AS PART OF THIS PROCESS, GRAND ACTION FOUNDATION WILL CONTINUE TO WORK WITH GOVERNMENTAL BODIES, PUBLIC-PRIVATE PARTNERSHIPS, NONPROFIT ORGANIZATIONS, EDUCATIONAL INSTITUTIONS, COMMUNITY LEADERS, AND THE GENERAL PUBLIC IN PLANNING, PROMOTING, DEVELOPING, ORGANIZING, AND OVERSEEING THE REALIZATION OF CIVIC, CULTURAL, EDUCATIONAL, SCIENTIFIC RESEARCH, AND ENTERTAINMENT FACILITIES, WITH A GOAL OF FOSTERING, SUPPORTING, ENCOURAGING, AND REINFORCING ECONOMIC, SOCIAL, AND CULTURAL DEVELOPMENT IN THE GREATER GRAND RAPIDS AREA AND IN THE SURROUNDING AREAS OF WEST MICHIGAN. GAF 2.0 HAS CONTINUED THE WORK OF PLANNING AND DESIGN FOR TWO PROJECTS, A DOWNTOWN AMPHITHEATER AND A SOCCER STADIUM. THE PROJECTS ARE IN THE EARLY STAGES OF DESIGN AND DEVELOPMENT AND GAF 2.0 IS CONTINUING TO ADVANCE DESIGN DEVELOPMENT OF THE TWO FACILITIES AS MILESTONES ARE ACHIEVED AND GAF 2.0 WILL CONTINUE TO PROVIDE FINANCIAL SUPPORT FOR THE STUDIES, DESIGN AND CONSTRUCTION OF THE TWO FACILITIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Devos Jr President | OfficerTrustee | 0.25 | $0 |
Carol Van Andel Secretary | OfficerTrustee | 0.25 | $0 |
Thomas G Welch Jr Treasurer | OfficerTrustee | 1 | $0 |
Jon Nunn End 723 Assistant Secretary And As | OfficerTrustee | 40 | $134,840 |
Kara Wood Beg 723 Assistant Secretary And As | OfficerTrustee | 40 | $88,012 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Progressive Ae Project Consultant | 3/30/23 | $1,324,022 |
Pma Consultants Llc Project Consultant | 3/30/23 | $390,874 |
Rossetti Consulting Group Project Consultant | 3/30/23 | $346,177 |
Windquest Group Inc Payroll | 3/30/23 | $314,585 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $763,399 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,200,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,963,399 |
| Total Program Service Revenue | $0 |
| Investment income | $82,127 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,045,526 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $269,070 |
| Compensation of current officers, directors, key employees. | $119,070 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,217 |
| Pension plan accruals and contributions | $769 |
| Other employee benefits | $13,272 |
| Payroll taxes | $21,529 |
| Fees for services: Management | $0 |
| 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 | $0 |
| Fees for services: Other | $2,363,805 |
| Advertising and promotion | $0 |
| Office expenses | $18,440 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $24,246 |
| 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 | $15,307 |
| Total functional expenses | $2,749,655 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,795,684 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $15,551,711 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $53,546 |
| Total assets | $21,400,941 |
| Accounts payable and accrued expenses | $689,789 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $20,001,904 |
| 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 | $53,547 |
| Total liabilities | $20,745,240 |
| Net assets without donor restrictions | $655,701 |
| 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 | $21,400,941 |