Book Industry Charitable Foundation
- Assets
- $3.6m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 7
- Location
- Ann Arbor, MI
- Founding
- 04/1996
- Data as of
- 12/2021
- EIN
- 38-3279018
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 12/2021, Borders Group Foundation employed 7 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 12/2021, Borders Group Foundation generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 41.4% each year . All expenses for the organization totaled $2.3m during the year ending 12/2021. While expenses have increased by 22.0% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
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.
POST SECONDARY SCHOLARSHIPS - A MERIT AND NEEDS BASED SCHOLARSHIP PROGRAM TO ASSIST FORMER BORDERS EMPLOYEES AND THE DEPENDENTS OF EMPLOYEES WITH THE COSTS OF HIGHER EDUCATION, INCLUDING UNDERGRADUATE, GRADUATE, VOCATIONAL, AND TECHNICAL STUDIES.
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) | Role | Hours | Compensation |
|---|---|---|---|
Pamela French Executive Di | Officer | 40 | $116,779 |
Matthew Gildea President | OfficerTrustee | 1 | $0 |
Annie Philbrick Vice Preside | OfficerTrustee | 1 | $0 |
Julia Cowlishaw Secretary | OfficerTrustee | 1 | $0 |
Christie Roehl Treasurer | OfficerTrustee | 1 | $0 |
Calvin Crosby Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $122,233 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,053,834 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,176,067 |
| Total Program Service Revenue | $0 |
| Investment income | $49,075 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$16,391 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,208,751 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,578,379 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $120,651 |
| Compensation of current officers, directors, key employees. | $60,325 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $302,995 |
| Pension plan accruals and contributions | $7,173 |
| Other employee benefits | $24,498 |
| Payroll taxes | $31,570 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,960 |
| Fees for services: Accounting | $14,154 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $59,000 |
| Advertising and promotion | $1,977 |
| Office expenses | $1,296 |
| Information technology | $23,674 |
| Royalties | $0 |
| Occupancy | $20,650 |
| Travel | $672 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,565 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,930 |
| All other expenses | $6,038 |
| Total functional expenses | $2,265,342 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $489,442 |
| Savings and temporary cash investments | $81,369 |
| Pledges and grants receivable | $7,796 |
| 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 | $5,503 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,030,386 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,560 |
| Total assets | $3,616,056 |
| Accounts payable and accrued expenses | $26,315 |
| Grants payable | $0 |
| 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 | $26,315 |
| Net assets without donor restrictions | $3,128,586 |
| Net assets with donor restrictions | $461,155 |
| 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 | $3,616,056 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Book Industry Charitable Foundation has recieved totaling $251,681.
| Awarding Organization | Amount |
|---|---|
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $210,866 |
Hieronymus Foundation Inc Tampa, FL PURPOSE: GENERAL OPERATIONS | $20,113 |
Northwest Connecticut Community Foundation Inc Torrington, CT PURPOSE: General Support | $10,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $7,700 |
Leaves Of Grass Fund Lincoln, MA PURPOSE: CHARITABLE | $2,000 |
Strong Foundation Of New York New York, NY PURPOSE: GENERAL SUPPORT | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Progressive Insurance Foundation Cleveland, OH | $7,804,354 | $47,823,383 |
Highlands Foundation Inc Madison, WI | $16,807,622 | $1,089,528 |
Rockwell Automation Charitable Corporation Milwaukee, WI | $6,137,007 | $10,007,891 |
Third Federal Foundation Cleveland, OH | $35,709,526 | $3,618,702 |
Gii Charities Grand Rapids, MI | $4,065,002 | $6,112,431 |
Westfield Insurance Foundation Westfield Center, OH | $42,931,784 | $4,362,594 |
Morgan Family Foundation Yellow Springs, OH | $51,827,477 | $1,582,241 |
Harry M And Violet Turner Charitable Trust Springfield, OH | $29,217,065 | $2,348,308 |
Penske Foundation Inc Bloomfield Hills, MI | $17,008,099 | $10,243,924 |
Alexander And Sarah Cutler Family Foundation Gates Mills, OH | $2,958,061 | $1,879,230 |
Clyde And Maycel Clark Foundation Inc Portsmouth, OH | $18,068,185 | $1,230,534 |
Scotts Miracle-Gro Foundation Marysville, OH | $2,069,071 | $1,768,884 |