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.
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 |
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 |
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 |