Jct Foundation
- Assets
- $1.9m
- Revenue
- $1.1m
- Investments
- $1.7m
- Employees
- 0
- Location
- Rockford, MI
- Founding
- 03/1998
- Data as of
- 12/2023
- EIN
- 38-3386697
Organization Overview
Jct Foundation is located in Rockford, MI. The organization was established in 1998. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Jct 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 12/2023, Jct Foundation generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 16.5% each year . All expenses for the organization totaled $398.6k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Jct Foundation has awarded 248 individual grants totaling $3,756,200. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
P Craig Welch Jr Pres/treas/t | 1 | $0 | |
Mary K Welch Vice Preside | 1 | $0 | |
Julie Welch Horning Trustee | 1 | $0 | |
P Craig Welch III Trustee | 1 | $0 | |
Thomas J Welch Trustee | 1 | $0 | |
Jeffrey Power Secretary | 1 | $5,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,302 |
| Dividends & Interest | $262,970 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $836,935 |
| Capital Gain Net Income | $836,935 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,103,207 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $5,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $467 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $40 |
| Total operating and administrative expenses | $18,608 |
| Contributions, gifts, grants paid | $380,000 |
| Total expenses and disbursements | $398,608 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $225,476 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,525,582 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,939,848 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Jct Foundation has awarded $380,000 in support to 33 organizations.
| Grant Recipient | Amount |
|---|---|
ACTION INSTITUTE PURPOSE: GENERAL CONTRIBUTION | $5,000 |
ALANO CLUB PURPOSE: GENERAL CONTRIBUTION | $10,000 |
BEACON OF HOPE PURPOSE: GENERAL CONTRIBUTION | $5,000 |
BEAUTIFUL YOU PURPOSE: GENERAL CONTRIBUTION | $5,000 |
CASA OF KENT COUNTY PURPOSE: GENERAL CONTRIBUTION | $5,000 |
CRU PURPOSE: GENERAL CONTRIBUTION | $10,000 |