Racine Community Foundation Inc
- Assets
- $86.9m
- Revenue
- $12.6m
- Investments
- $15.9m
- Employees
- 3
- Location
- Racine, WI
- Founding
- 05/1976
- Data as of
- 12/2021
- EIN
- 51-0188377
Organization Overview
Racine Community Foundation Inc is located in Racine, WI. The organization was established in 1976. 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 12/2021, Racine Community Foundation Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Racine Community Foundation Inc 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, Racine Community Foundation Inc generated $12.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $3.5m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Racine Community Foundation Inc has awarded 943 individual grants totaling $26,642,648. 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
THE MISSION OF THE RACINE COMMUNITY FOUNDATION IS TO SUPPORT THE PEOPLE OF RACINE COUNTY BY PROVIDING FUNDING TO RACINE COUNTY'S HARD WORKING NONPROFIT ORGANIZATIONS AND STUDENTS, AND RESPONSIBLY STEWARDING OUR ENDOWMENT AND ALL GIFTS ENTRUSTED TO IT, SO WE MAY CONTINUE TO PARTNER WITH OUR DONORS TO PROVIDE THIS FUNDING FOREVER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE RACINE COMMUNITY FOUNDATION FUNDS OTHER NON-PROFIT COMMUNITY ORGANIZATIONS TO HELP STRENGTHEN AND DELIVER PROGRAMS THAT ARE VITAL TO THE PEOPLE OF RACINE COUNTY. IN 2021, THE RACINE COMMUNITY FOUNDATION AWARDED OVER $2.91 MILLION IN GRANTS, PRIMARILY IN THE CATEGORIES OF ARTS AND CULTURE, COMMUNITY DEVELOPMENT, EDUCATION, ENVIRONMENTAL, HEALTH, AND HUMAN SERVICES. DURING THE YEAR THE RACINE COMMUNITY FOUNDATION AWARDED 77 ARTS AND CULTURE, 171 COMMUNITY DEVELOPMENT, 204 EDUCATION, 49 ENVIRONMENTAL, 63 HEALTH, AND 185 HUMAN SERVICES GRANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Powell President & CEO | Officer | 40 | $151,019 |
Ted Hart Board Chair | OfficerTrustee | 1 | $0 |
Eric Olesen Chair Elect | OfficerTrustee | 1 | $0 |
Steve Johnson Treasurer/vp Of Finance | OfficerTrustee | 1 | $0 |
Cory Sebastian Secretary | OfficerTrustee | 1 | $0 |
Kevin Mccabe VP Of Grants | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $1,000,000 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,129,529 |
| Noncash contributions included in lines 1a–1f | $450,338 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,129,529 |
| Total Program Service Revenue | $75,575 |
| Investment income | $237,750 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $10,139,532 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,582,646 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,523,541 |
| Grants and other assistance to domestic individuals. | $215,491 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $155,550 |
| Compensation of current officers, directors, key employees. | $155,156 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $120,195 |
| Pension plan accruals and contributions | $3,473 |
| Other employee benefits | $0 |
| Payroll taxes | $18,891 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,120 |
| Fees for services: Accounting | $15,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $277,323 |
| Fees for services: Other | $1,355 |
| Advertising and promotion | $52,858 |
| Office expenses | $16,866 |
| Information technology | $9,860 |
| Royalties | $0 |
| Occupancy | $54,316 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $228 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,991 |
| Insurance | $4,534 |
| All other expenses | $9,477 |
| Total functional expenses | $3,500,733 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,981 |
| Savings and temporary cash investments | $3,250 |
| Pledges and grants receivable | $5,428 |
| 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 | $4,125 |
| Net Land, buildings, and equipment | $8,454 |
| Investments—publicly traded securities | $70,966,295 |
| Investments—other securities | $15,854,216 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $40,353 |
| Total assets | $86,916,102 |
| Accounts payable and accrued expenses | $62,763 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $8,094,208 |
| 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 | $8,156,971 |
| Net assets without donor restrictions | $5,757,425 |
| Net assets with donor restrictions | $73,001,706 |
| 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 | $86,916,102 |
Grants Awarded
Over the last fiscal year, Racine Community Foundation Inc has awarded $2,350,855 in support to 92 organizations.
| Grant Recipient | Amount |
|---|---|
Racine, WI PURPOSE: FOR PROGRAMMING AND OPERATIONS | $124,169 |
Racine, WI PURPOSE: TO PROVIDE OPERATING SUPPORT | $104,376 |
Milwaukee, WI PURPOSE: VISION LOSS SERVICES IN RACINE COUNTY & OPERATIONS | $93,298 |
Racine, WI PURPOSE: TO PROVIDE OPERATIONAL SUPPORT | $91,400 |
Chicago, IL PURPOSE: VISION LOSS SERVICES IN RACINE COUNTY | $89,095 |
Racine, WI PURPOSE: FOR PROGRAMMING AND OPERATIONS | $70,328 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Racine Community Foundation Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Ruffo Family Foundation Inc Racine, WI PURPOSE: SUPPORT THE RUFFO FAMILY FUND | $10,000 |
Endowment Analysis
| Beg. Balance | $64,544,146 |
| Earnings | $9,739,413 |
| Admin Expense | $703,797 |
| Net Contributions | $1,940,118 |
| Grants | $2,601,985 |
| Ending Balance | $72,917,895 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Communitygiving St Cloud, MN | $193,103,222 | $46,523,540 |
Quad Cities Community Foundation Bettendorf, IA | $165,771,747 | $15,098,956 |
Muskegon County Community Foundation Muskegon, MI | $247,862,579 | $28,555,582 |
Greater Cedar Rapids Community Foundation Cedar Rapids, IA | $223,368,352 | $26,493,454 |
Community Foundation Of Greater Flint Flint, MI | $212,857,243 | $17,865,297 |
Ann Arbor Area Community Foundation Ann Arbor, MI | $219,428,649 | $31,760,954 |
3m Open Fund Blaine, MN | $2,792,523 | $13,492,516 |
Fremont Area Community Foundation Fremont, MI | $291,559,908 | $22,142,594 |
Dupage Community Foundation Downers Grove, IL | $125,703,251 | $14,295,087 |
Grand Haven Area Community Foundation Inc Grand Haven, MI | $189,481,921 | $23,464,810 |
Oshkosh Area Community Foundation Corporation Oshkosh, WI | $140,509,815 | $17,534,681 |
Community Foundation Of Greater Dubuque Dubuque, IA | $145,486,240 | $37,640,315 |