Greater Cedar Rapids Community Foundation
- Assets
- $223.4m
- Revenue
- $26.5m
- Investments
- $39.6m
- Employees
- 24
- Location
- Cedar Rapids, IA
- Founding
- 10/1952
- Data as of
- 12/2021
- EIN
- 42-6053860
Organization Overview
Greater Cedar Rapids Community Foundation is located in Cedar Rapids, IA. The organization was established in 1952. 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 12/2022, Greater Cedar Rapids Community Foundation employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Cedar Rapids 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, Greater Cedar Rapids Community Foundation generated $26.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $14.8m during the year ending 12/2021. While expenses have increased by 6.7% 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, Greater Cedar Rapids Community Foundation has awarded 1,477 individual grants totaling $71,010,374. 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
TO STRENGTHEN OUR COMMUNITY THROUGH PHILANTHROPY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COMMUNITY FOUNDATION INVESTS IN THE FUTURE OF LINN COUNTY, IOWA BY WORKING WITH DONORS AND PROVIDING GRANTS AND SUPPORT TO NONPROFITS. THE COMMUNITY FOUNDATION PROVIDES THE HIGHEST POSSIBLE LEVEL OF PHILANTHROPIC SERVICES INCLUDING EXPERT ADVICE, PROFESSIONAL FUND MANAGEMENT, MAXIMUM TAX SAVINGS, AND COMMUNITY KNOWLEDGE OF HUNDREDS OF LOCAL NONPROFIT ORGANIZATIONS. THE COMMUNITY FOUNDATION'S GRANT PROGRAMS INVEST IN INNOVATION, SUSTAINABILITY AND CAPACITY-BUILDING IN NONPROFIT ORGANIZATIONS.
FOR MORE THAN 70 YEARS, THE COMMUNITY FOUNDATION HAS BEEN WORKING CLOSELY WITH DONORS, LOCAL LEADERS, AND HUNDREDS OF NONPROFIT ORGANIZATIONS AS A FUNDER AND CONVENER TO DEVELOP AND IMPLEMENT BETTER SOLUTIONS FOR THE FUTURE. BY LEVERAGING ITS RESOURCES AND BUILDING RELATIONSHIPS WITH OTHERS, THE COMMUNITY FOUNDATION ACTS AS A CATALYST FOR CHANGE BY WORKING ON ISSUES OF BROAD COMMUNITY IMPORTANCE SO EVERYONE IN LINN COUNTY HAS OPPORTUNITIES TO ACHIEVE THEIR FULL POTENTIAL.
IN ADDITION TO GRANTMAKING, THE NONPROFIT NETWORK PROVIDES A POINT OF CONNECTION FOR LOCAL NONPROFIT ORGANIZATIONS AND PROFESSIONALS, CONCENTRATING ON THREE AREAS: PEER ENGAGEMENT, LEARNING OPPORTUNITIES AND INFORMATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Okpara Rice Chair | OfficerTrustee | 2 | $0 |
Mike Sheeley Treasurer | OfficerTrustee | 2 | $0 |
Jon Landon Secretary | OfficerTrustee | 2 | $0 |
Diana Ledford Vice-Chair/chair-Elect | OfficerTrustee | 2 | $0 |
Jasmine Almoayyed Director | Trustee | 2 | $0 |
Molly Altorfer Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fund Evaluation Group Investment Consulting | 12/30/22 | $164,402 |
Rw Baird Investment Consulting | 12/30/22 | $151,293 |
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 | $15,741,697 |
| Noncash contributions included in lines 1a–1f | $4,054,227 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,741,697 |
| Total Program Service Revenue | $0 |
| Investment income | $4,506,660 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $25,458 |
| Net Gain/Loss on Asset Sales | $6,208,169 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,493,454 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,375,555 |
| Grants and other assistance to domestic individuals. | $21,730 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $894,738 |
| Compensation of current officers, directors, key employees. | $292,055 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $874,195 |
| Pension plan accruals and contributions | $66,635 |
| Other employee benefits | $104,750 |
| Payroll taxes | $116,515 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $595 |
| Fees for services: Accounting | $51,220 |
| Fees for services: Lobbying | $7,496 |
| Fees for services: Fundraising | $502 |
| Fees for services: Investment Management | $370,447 |
| Fees for services: Other | $120,342 |
| Advertising and promotion | $55,107 |
| Office expenses | $40,793 |
| Information technology | $155,350 |
| Royalties | $0 |
| Occupancy | $118,426 |
| Travel | $5,374 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $34,604 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $66,919 |
| Insurance | $16,386 |
| All other expenses | $21,752 |
| Total functional expenses | $14,823,385 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $10,016,801 |
| Pledges and grants receivable | $423,715 |
| 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 | $20,422 |
| Net Land, buildings, and equipment | $1,416,861 |
| Investments—publicly traded securities | $167,054,027 |
| Investments—other securities | $39,581,975 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,854,551 |
| Total assets | $223,368,352 |
| Accounts payable and accrued expenses | $178,066 |
| Grants payable | $648,713 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $45,611,188 |
| 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 | $1,175,199 |
| Total liabilities | $47,613,166 |
| Net assets without donor restrictions | $168,946,179 |
| Net assets with donor restrictions | $6,809,007 |
| 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 | $223,368,352 |
Grants Awarded
Over the last fiscal year, Greater Cedar Rapids Community Foundation has awarded $8,909,754 in support to 175 organizations.
| Grant Recipient | Amount |
|---|---|
ACACIA FRATERNITY FOUNDATION PURPOSE: GENERAL SUPPORT, IOWA CHAPTER FUND, PROGRAM SUPPORT: PYTHAGORAS MANUAL | $6,100 |
ADVOCATES FOR SOCIAL JUSTICE PURPOSE: GENERAL SUPPORT | $10,000 |
AFRICAN AMERICAN HERITAGE FOUNDATION DBA AFRICAN AMERICAN MUSEUM OF IOWA PURPOSE: GENERAL SUPPORT, ANNUAL DESIGNATED DISTRIBUTION, NOT JUST FEBRUARY - AAMI GENERAL SUPPORT SUPPORT, BLACK HISTORY IS IOWA'S HISTORY - AAMI PROGRAMMING, VOICES INSPIRING PROGRESS | $77,509 |
AFFORDABLE HOUSING NETWORK INC PURPOSE: NONPROFIT RECOVERY GRANT | $25,000 |
AGING SERVICES INC PURPOSE: GENERAL SUPPORT, ANNUAL DESIGNATED DISTRIBUTION | $15,240 |
ALL SAINTS CATHOLIC CHURCH PURPOSE: PARISH SUPPORT FOR 2022, ANNUAL DESIGNATED DISTRIBUTION FOR MAINTENANCE, REPAIR, UPKEEP OR IMPROVEMENT TO THE ST. WENCESLAUS CATHOLIC CHURCH BUILDING AND PROPERTIES, INCLUDING THE CZECH HERITAGE PARK, GENERAL SUPPORT, ANNUAL DESIGNATED DISTRIBUTION, ANNUAL DESIGNATED DISTRIBUTION TO SUPPORT GIRL SCOUTS PROGRAMMING AT ALL SAINTS CATHOLIC CHURCH, AREA OF MOST NEED | $7,603 |