Book Industry Charitable Foundation

Organization Overview

Book Industry Charitable Foundation, operating under the name Borders Group Foundation, is located in Ann Arbor, MI. The organization was established in 1996. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Borders Group Foundation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Borders Group 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, Borders Group Foundation generated $956.4k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 21.9% each year . All expenses for the organization totaled $1.1m during the year ending 12/2022. While expenses have increased by 9.1% per year over the past 8 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE CENTERPIECE PROGRAM PROVIDES SHORT-TERM FINANCIAL ASSISTANCE TO BOOK AND COMIC INDUSTRY EMPLOYEES, INCLUDING BOOKSTORE AND COMIC SHOP OWNERS/OPERATORS, BOOKSELLERS, BOOK BUYERS, AND FORMER BORDERS EMPLOYEES AND THEIR IMMEDIATE FAMILIES WHO HAVE DEMONSTRATED FINANCIAL NEED ARISING FROM SEVERE HARDSHIP AND/OR EMERGENCY CIRCUMSTANCES, INCLUDING BUT NOT LIMITED TO, DISASTER RELIEF, DOMESTIC VIOLENCE, SERIOUS MEDICAL CONDITION, OR LOSS OF HOUSEHOLD INCOME SUCH AS DIVORCE OR SEPARATION, DEATH OF AN EMPLOYEE OR IMMEDIATE FAMILY MEMBER. ADDITIONALLY, THE BOOK INDUSTRY CHARITABLE FOUNDATION MADE AVAILABLE OTHER TOOLS TO HELP AFFECTED EMPLOYEES AND OWNERS BETTER MANAGE WITH ONGOING FINANCIAL CHALLENGES. THESE TOOLS INCLUDE HEALTH CARE RESOURCES DIRECTORIES, BUDGET PLANNING GUIDES AND FINANCIAL MANAGEMENT TOOLS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

FINANCIAL ASSISTANCE PROGRAM - PROVIDES ASSISTANCE TO EMPLOYEES, OWNERS, AND FORMER EMPLOYEES. THIS CENTERPIECE PROGRAM PROVIDES SHORT-TERM FINANCIAL ASSISTANCE TO BOOK AND COMIC INDUSTRY EMPLOYEES, OWNERS, AND FORMER BORDERS EMPLOYEES AND THEIR IMMEDIATE FAMILIES WHO HAVE DEMONSTRATED FINANCIAL NEED ARISING FROM SEVERE HARDSHIP AND/OR EMERGENCY CIRCUMSTANCES, INCLUDING BUT NOT LIMITED TO, DISASTER RELIEF, SERIOUS MEDICAL CONDITION, LOSS OF HOUSEHOLD INCOME DUE TO DEATH OF EMPLOYEE OR IMMEDIATE FAMILY MEMBER, DIVORCE OR SEPARATION OR PARTNER'S/SPOUSE'S JOB LOSS. ADDITIONALLY, THE BOOK INDUSTRY CHARITABLE FOUNDATION MADE AVAILABLE OTHER TOOLS TO HELP AFFECTED EMPLOYEES DEAL WITH ONGOING FINANCIAL CHALLENGES. THESE TOOLS INCLUDE RESOURCE DIRECTORIES, BUDGET PLANNING GUIDES AND FINANCIAL MANAGEMENT TOOLS.


UNDERSERVED MARKETS - OFFERS A TAILORED SUITE OF RESOURCES AND EDUCATION TO A GROUP OF UNDERREPRESENTED BOOKSELLERS TRYING TO OPEN BOOKSTORES IN AREAS IMPACTED BY SYSTEMIC RACISM. THE PROGRAM WILL LAUNCH AS A BOOKSTORE INCUBATOR AND AIMS TO GROW CAPACITY AND EXPAND STORES IN UNDERSERVED MARKETS. IN ADDITION, THE FOUNDATION PLANS TO PLAY THE ROLE OF A BACKBONE ORGANIZATION AND BRING RESOURCES AND PEOPLE FROM ACROSS THE INDUSTRY TOGETHER TO HELP EXPAND STORES IN UNDERSERVED MARKETS IN THE U.S.


PROFESSIONAL DEVELOPMENT SCHOLARSHIPS - THE FOUNDATION BELIEVES THAT THE FUTURE OF HEALTHY BOOKSTORES AND COMIC STORES LIES IN THE CONTINUING EDUCATION OF THE OWNERS AND EMPLOYEES. TO ENCOURAGE FURTHER BUSINESS DEVELOPMENT AND CAREER GROWTH, THE FOUNDATION OFFERS SCHOLARSHIPS FOR SEVERAL PROFESSIONAL INDUSTRY EVENTS AND CERTIFICATE PROGRAMS. THE SCHOLARSHIPS ARE MERIT AND NEED-BASED.


DISASTER RELIEF PROGRAM - DESIGNED TO ASSIST BOOK AND COMIC STORE OWNERS IF THEIR STORE WAS IMPACTED BY A NATURAL DISASTER, INCLUDING PUBLIC HEALTH EMERGENCIES. ANY ASSISTANCE GIVEN IS OUTSIDE OF WHAT IS COVERED BY INSURANCE AND DOES NOT INCLUDE ANY PAYMENTS TO MERCHANDISE VENDORS. THE STORE MUST DEMONSTRATE A FINANCIAL CRISIS BROUGHT ABOUT BY A NATURAL DISASTER INCLUDING LOSS OF INCOME DUE TO DISRUPTION OF BUSINESS. THE FOUNDATION IS ABLE TO HELP BY PAYING NEEDED RENT AND/OR UTILITIES.


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Board, Officers & Key Employees

Name (title)Compensation
Pamela French
Executive Di
$108,721
Erin Coffey
Director
$0
Julia Cowlishaw
Director
$0
Calvin Crosby
Director
$0
Eileen Dengler
Director
$0
Matthew Gildea
Director
$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$898,774
Noncash contributions included in lines 1a–1f $30,933
Total Revenue from Contributions, Gifts, Grants & Similar$898,774
Total Program Service Revenue$0
Investment income $57,581
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 $956,355

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