Grand Rapids Area Community Fndtn
- Assets
- $31.1m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 3
- Location
- Grand Rapids, MN
- Founding
- 01/1994
- Data as of
- 12/2023
- EIN
- 41-1761590
Organization Overview
Grand Rapids Area Community Fndtn is located in Grand Rapids, MN. The organization was established in 1994. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Grand Rapids Area Community Fndtn employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grand Rapids Area Community Fndtn 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, Grand Rapids Area Community Fndtn generated $3.1m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Grand Rapids Area Community Fndtn has awarded 240 individual grants totaling $5,377,615. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
INSPIRE INDIVIDUALS AND ORGANIZATIONS TO INVEST IN THEIR COMMUNITY TO IMPROVE THE QUALITY OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023, THE FOUNDATION PROVIDED 570 GRANTS, TOTALING 804,476 BACK TO THE COMMUNITY. THE FOUNDATION ALSO PROVIDED 215 SCHOLARSHIPS, TOTALING 318,350 TO INDIVIDUALS AND FAMILIES. THE FOUNDATION HAS A DIVERSE GROUP OF DONORS AND COMMUNITY NEEDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shannon Benolken Chair | OfficerTrustee | 5 | $0 |
Diane Larson Vice Chair | OfficerTrustee | 5 | $0 |
Christina Anderson Secretary | Trustee | 1 | $0 |
Jamie Brown Treasurer | OfficerTrustee | 5 | $0 |
Julie Wilcox Past Chair | OfficerTrustee | 5 | $0 |
Sarah Anderson Director | Trustee | 1 | $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 | $1,847,768 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,847,768 |
| Total Program Service Revenue | $0 |
| Investment income | $732,592 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $490,593 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,093,747 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $804,476 |
| Grants and other assistance to domestic individuals. | $318,350 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $85,671 |
| Compensation of current officers, directors, key employees. | $34,751 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $101,173 |
| Pension plan accruals and contributions | $5,521 |
| Other employee benefits | $9,466 |
| Payroll taxes | $22,743 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $78,816 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,495 |
| Advertising and promotion | $4,967 |
| Office expenses | $89,228 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,787 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,820 |
| Insurance | $497 |
| All other expenses | $27,162 |
| Total functional expenses | $1,681,236 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,178,682 |
| Savings and temporary cash investments | $802,951 |
| Pledges and grants receivable | $2,000 |
| 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 | $27,362 |
| Net Land, buildings, and equipment | $4,615 |
| Investments—publicly traded securities | $29,027,550 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $53,575 |
| Total assets | $31,096,735 |
| Accounts payable and accrued expenses | $17,893 |
| Grants payable | $65,750 |
| 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 | $3,108,563 |
| Total liabilities | $3,192,206 |
| Net assets without donor restrictions | $697,113 |
| Net assets with donor restrictions | $27,207,416 |
| 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 | $31,096,735 |
Grants Awarded
Over the last fiscal year, Grand Rapids Area Community Fndtn has awarded $615,524 in support to 30 organizations.
| Grant Recipient | Amount |
|---|---|
FIRST CALL FOR HELP 211 PURPOSE: HEALTH & WELL-BEING | $75,774 |
SECOND HARVEST NORTH CENTRAL FOOD PURPOSE: ANNUAL DISTRIBUTION | $61,124 |
ITASCA AREA CANCER CRISIS ENDOWMENT PURPOSE: CRISIS | $35,320 |
GRAND RAPIDS AREA LIBRARY FOUND PURPOSE: ANNUAL DISTRIBUTION | $34,090 |
ELDERCIRCLE PURPOSE: ANNUAL DISTRIBUTION | $34,000 |
ST JOSEPH CATHOLIC CHURCH PURPOSE: ANNUAL DISTRIBUTION | $31,280 |