Kalamazoo Community Foundation
- Assets
- $677.1m
- Revenue
- $78.1m
- Investments
- $441.6m
- Employees
- 49
- Location
- Kalamazoo, MI
- Founding
- 02/1997
- Data as of
- 12/2021
- EIN
- 38-3333202
Organization Overview
Kalamazoo Community Foundation is located in Kalamazoo, MI. The organization was established in 1997. 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, Kalamazoo Community Foundation employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kalamazoo 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, Kalamazoo Community Foundation generated $78.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.3% each year . All expenses for the organization totaled $28.0m during the year ending 12/2021. While expenses have increased by 2.9% 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 2014, Kalamazoo Community Foundation has awarded 2,021 individual grants totaling $151,554,802. 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
KALAMAZOO COMMUNITY FOUNDATION'S MISSION IS TO MOBILIZE PEOPLE, RESOURCES, AND EXPERTISE TO ADVANCE RACIAL, SOCIAL, AND ECONOMIC JUSTICE IN ORDER TO MAKE KALAMAZOO COUNTY THE MOST EQUITABLE PLACE TO LIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNRESTRICTED FUNDS: DONORS HAVE ESTABLISHED UNRESTRICTED FUNDS WHICH ALLOW THE COMMUNITY FOUNDATION TO RESPOND TO THE MOST CHALLENGING NEEDS IN THE COMMUNITY, RESPOND QUICKLY TO EMERGENCIES, AND FACILITATE INNOVATIVE RESPONSES TO COMMUNITY CHALLENGES TO MEET THE VISION OF KALAMAZOO COUNTY AS THE MOST EQUITABLE PLACE TO LIVE.
SCHOLARSHIP FUNDS PROVIDED FELLOWSHIPS AND SCHOLARSHIPS TO 353 STUDENTS.
THE TRUTH, RACIAL HEALING & TRANSFORMATION (TRHT) IS A NATIONAL AND COMMUNITY BASED EFFORT TO ENGAGE COMMUNITIES, ORGANIZATIONS AND INDIVIDUALS FROM MULTIPLE SECTORS IN RACIAL HEALING AND ADDRESSING PRESENT-DAY INEQUITIES.
GRANTS FROM FUNDS WITH RESTRICTED PURPOSES INCLUDING DESIGNATED, DONOR ADVISED AND FIELD OF INTEREST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carolyn Pickett-Erway Ceo/president | Officer | 45 | $256,626 |
Susan Springgate Vp, Finance & Admin | Officer | 47 | $174,466 |
Joanna Dales Vp, Donor Relations | Officer | 46 | $149,300 |
Elena Mireles-Hill Interim Vp, Community Investment | Officer | 42 | $119,459 |
Sandra Loken Vp, Grants | Officer | 49 | $114,225 |
Erycka Hunter Vp, Operations | Officer | 45 | $110,872 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pnc Asset Investment Management Services | 12/30/21 | $325,536 |
Greenleaf Trust Asset Investment Management Services | 12/30/21 | $155,633 |
Loomis Sayles & Company Lp Asset Investment Management Services | 12/30/21 | $133,519 |
Fifth Third Bank Asset Investment Management Services | 12/30/21 | $129,984 |
Prudential Investment Management Asset Investment Management Services | 12/30/21 | $119,018 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $73,474 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $426,372 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,915,022 |
| Noncash contributions included in lines 1a–1f | $2,733,459 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,414,868 |
| Total Program Service Revenue | $0 |
| Investment income | $12,185,675 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $52,442,264 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $78,067,850 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $19,292,936 |
| Grants and other assistance to domestic individuals. | $1,164,607 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,263,572 |
| Compensation of current officers, directors, key employees. | $691,947 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,977,121 |
| Pension plan accruals and contributions | $111,466 |
| Other employee benefits | $383,278 |
| Payroll taxes | $224,655 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $53,389 |
| Fees for services: Accounting | $44,372 |
| Fees for services: Lobbying | $7,500 |
| Fees for services: Fundraising | $473 |
| Fees for services: Investment Management | $1,016,825 |
| Fees for services: Other | $1,319,670 |
| Advertising and promotion | $80,451 |
| Office expenses | $138,824 |
| Information technology | $276,637 |
| Royalties | $0 |
| Occupancy | $254,052 |
| Travel | $56,443 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $151,140 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $61,095 |
| Insurance | $11,777 |
| All other expenses | $0 |
| Total functional expenses | $28,000,711 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,662,802 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $5,118,260 |
| 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 | $522,186 |
| Net Land, buildings, and equipment | $159,683 |
| Investments—publicly traded securities | $215,340,486 |
| Investments—other securities | $441,570,074 |
| Investments—program-related | $3,287,331 |
| Intangible assets | $0 |
| Other assets | $7,431,837 |
| Total assets | $677,092,659 |
| Accounts payable and accrued expenses | $1,400,315 |
| Grants payable | $1,624,747 |
| 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 | $95,000 |
| Other liabilities | $2,662,960 |
| Total liabilities | $5,783,022 |
| Net assets without donor restrictions | $48,696,768 |
| Net assets with donor restrictions | $622,612,869 |
| 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 | $677,092,659 |
Grants Awarded
Over the last fiscal year, Kalamazoo Community Foundation has awarded $18,374,316 in support to 223 organizations.
| Grant Recipient | Amount |
|---|---|
Kalamazoo, MI PURPOSE: HUMAN SERVICE-MULTIPURPOSE/OTHER | $819,393 |
Kalamazoo, MI PURPOSE: ARTS, CULTURE & HUMANITIES | $678,845 |
KALAMAZOO PUBLIC SCHOOLS PURPOSE: EDUCATION | $658,300 |
Kalamazoo, MI PURPOSE: HUMAN SERVICE-MULTIPURPOSE/OTHER | $643,062 |
Kalamazoo, MI PURPOSE: HUMAN SERVICE-MULTIPURPOSE/OTHER | $616,212 |
KALAMAZOO COUNTY GOVERNMENT PURPOSE: HUMAN SERVICE-MULTIPURPOSE/OTHER | $585,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Kalamazoo Community Foundation has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
Weitzenhoffer Seminole Foundation Kalamazoo, MI PURPOSE: FAMILY ENRICHMENT FUND | $1,500 |
Weitzenhoffer Seminole Foundation Kalamazoo, MI PURPOSE: EXCELLENCE IN EDUCATION FUND | $1,000 |
Endowment Analysis
| Beg. Balance | $535,791,207 |
| Earnings | $93,733,325 |
| Admin Expense | $5,635,863 |
| Net Contributions | $7,161,871 |
| Grants | $11,342,139 |
| Ending Balance | $619,708,401 |
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 |