Grand Valley University Foundation
- Assets
- $4.7m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Allendale, MI
- Founding
- 06/1965
- Data as of
- 06/2024
- EIN
- 38-6086770
Organization Overview
Grand Valley University Foundation is located in Allendale, MI. The organization was established in 1965. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grand Valley University 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 06/2024, Grand Valley University Foundation generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $1.2m during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 5 years. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE GRAND VALLEY UNIVERSITY FOUNDATION PROVIDES SUPPORT TO GRAND VALLEY STATE UNIVERSITY TO ASSIST IN ITS GOALS AND MISSION. THIS SUPPORT PROVIDES GRANTS AND SCHOLARSHIPS, FACULTY AND ACADEMIC PROGRAM DEVELOPMENT, CAPITAL MAINTENANCE AND GROWTH, AND LONG-TERM FISCAL SECURITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUNDS RAISED BY THE GRAND VALLEY UNIVERSITY FOUNDATION BETWEEN JULY 1, 2023 AND JUNE 30, 2024 WERE TRANSFERRED TO GRAND VALLEY STATE UNIVERSITY (GVSU) FOR USE IN MEETING CAPITAL, OPERATING, AND INSTRUCTIONAL NEEDS; INCLUDING STUDENT SCHOLARSHIPS AND FACULTY SUPPORT. SOME GIFTS WERE ALSO MADE TO ENDOWMENT, HELPING ADDRESS RESTRICTED NEEDS (E.G. SCHOLARSHIPS AND SPECIAL PROGRAMMING) AND TO PROVIDE LONG-TERM FISCAL STABILITY THROUGH UNRESTRICTED ENDOWMENT. THESE PROGRAMS DIRECTLY AND INDIRECTLY BENEFITED APPROXIMATELY 22,000 STUDENTS ENROLLED AT GVSU DURING THE YEAR, AS WELL AS BENEFITED THE COMMUNITY THROUGH SPECIFIC PROGRAMS AND OVERALL ECONOMIC IMPACT OF GVSU SPENDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas J Haas Director | Trustee | 0.5 | $0 |
Arend D Lubbers Director | Trustee | 2 | $0 |
Donna K Brooks General Chair | OfficerTrustee | 2 | $0 |
James Wf Brooks General Chair | OfficerTrustee | 2 | $0 |
Daniel G Devos Vice Chairman | OfficerTrustee | 2 | $0 |
Pamella G Devos Vice Chairman | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $89,160 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $951,306 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,040,466 |
| Total Program Service Revenue | $0 |
| Investment income | $14,133 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $33,983 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,088,582 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $849,707 |
| Grants and other assistance to domestic individuals. | $220,209 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,505 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,102 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,412 |
| Office expenses | $157 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $725 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $64,001 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,705 |
| All other expenses | $1,600 |
| Total functional expenses | $1,167,523 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $227,903 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $207,546 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $4,215,128 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,650,577 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $4,650,577 |
| 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 | $4,650,577 |