Mackinac Island Community Foundation
- Assets
- $19.9m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 2
- Location
- Mackinac Island, MI
- Founding
- 05/1995
- Data as of
- 12/2021
- EIN
- 38-3179612
Organization Overview
Mackinac Island Community Foundation is located in Mackinac Island, MI. The organization was established in 1995. 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 12/2021, Mackinac Island Community Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mackinac Island 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 12/2021, Mackinac Island Community Foundation generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 23.6% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 15.2% 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, Mackinac Island Community Foundation has awarded 72 individual grants totaling $3,063,502. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
MEETS THE CHARITABLE, SCIENTIFIC, LITERARY AND EDUCATIONAL NEEDS OF MACKINAC ISLAND, MICHIGAN. ALSO RECEIVES AND ADMINISTERS DONATIONS AND BEQUESTS WHICH ARE USED TO MEET VARIOUS NEEDS OF MACKINAC ISLAND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO CHARITABLE ORGANIZATIONS LOCATED ON MACKINAC ISLAND AND ST. IGNACE, MICHIGAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Mcgreevy Executive Director | Officer | 40 | $56,778 |
James Murray Chair | OfficerTrustee | 2 | $0 |
Kathleen Rickley Vice Chair | OfficerTrustee | 2 | $0 |
Margaret M Doud Secretary | OfficerTrustee | 2 | $0 |
Richard Linn Treasurer | OfficerTrustee | 2 | $0 |
George Goodman Trustee | Trustee | 2 | $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 | $718,630 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $718,630 |
| Total Program Service Revenue | $3,779 |
| Investment income | $311,484 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $680,383 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,750,042 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $910,262 |
| Grants and other assistance to domestic individuals. | $76,418 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $56,778 |
| Compensation of current officers, directors, key employees. | $56,778 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $29,206 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,353 |
| Payroll taxes | $6,471 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $214 |
| Fees for services: Accounting | $10,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $84,715 |
| Fees for services: Other | $14,540 |
| Advertising and promotion | $7,152 |
| Office expenses | $4,282 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $263 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $132 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,524 |
| All other expenses | $2,695 |
| Total functional expenses | $1,231,406 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $281,485 |
| Savings and temporary cash investments | $486,573 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $18,740,117 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $377,778 |
| Total assets | $19,885,953 |
| Accounts payable and accrued expenses | $2,791 |
| Grants payable | $131,936 |
| 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 | $542,933 |
| Total liabilities | $677,660 |
| Net assets without donor restrictions | $19,208,293 |
| 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 | $19,885,953 |
Grants Awarded
Over the last fiscal year, Mackinac Island Community Foundation has awarded $889,320 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF MACKINAC ISLAND PURPOSE: VARIOUS | $482,448 |
Mackinac Island, MI PURPOSE: VARIOUS | $99,004 |
WAWASHKAMO GOLF CLUB PURPOSE: VARIOUS | $58,675 |
MACKINAC ISLAND HOUSING CORPORATION PURPOSE: VARIOUS | $51,814 |
MACKINAC ISLAND PUBLIC LIBRARY PURPOSE: DESIGNATED DISBURSEMENT | $32,007 |
Mackinac Is, MI PURPOSE: VARIOUS | $30,686 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Mackinac Island Community Foundation has recieved totaling $26,102.
| Awarding Organization | Amount |
|---|---|
Henry C And Audrienne Murray Foundation Petoskey, MI PURPOSE: GENERAL FUND | $25,000 |
Stone Barrett Foundation Chicago, IL PURPOSE: UNRESTRICTED | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $102 |
Endowment Analysis
| Beg. Balance | $14,735,544 |
| Earnings | $2,609,444 |
| Admin Expense | $153,266 |
| Net Contributions | $590,591 |
| Grants | $654,628 |
| Ending Balance | $17,127,686 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Stark Community Foundation Inc Canton, OH | $373,666,840 | $68,744,620 |
Muskegon County Community Foundation Muskegon, MI | $247,862,579 | $28,555,582 |
Community Foundation Of Greater Flint Flint, MI | $212,857,243 | $17,865,297 |
Ann Arbor Area Community Foundation Ann Arbor, MI | $219,428,649 | $31,760,954 |
Community Foundation Of St Joseph County Inc South Bend, IN | $247,009,993 | $29,572,898 |
Fremont Area Community Foundation Fremont, MI | $291,559,908 | $22,142,594 |
Grand Haven Area Community Foundation Inc Grand Haven, MI | $189,481,921 | $23,464,810 |
Oshkosh Area Community Foundation Corporation Oshkosh, WI | $140,509,815 | $17,534,681 |
Community Foundation Of Greater Fort Wayne Inc Fort Wayne, IN | $181,936,459 | $11,602,152 |
Midland Area Community Foundation Midland, MI | $121,202,704 | $11,959,875 |
Community Foundation Of Lorain County Elyria, OH | $163,012,004 | $27,165,624 |
Wayne County Community Foundation Wooster, OH | $110,981,023 | $15,756,594 |