Flagstar Foundation Inc
- Assets
- $23.5m
- Revenue
- $24.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Troy, MI
- Founding
- 09/2017
- Data as of
- 12/2022
- EIN
- 82-1812075
Organization Overview
Flagstar Foundation Inc is located in Troy, MI. The organization was established in 2017. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Flagstar 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 12/2022, Flagstar Foundation Inc generated $24.5m in total revenue. All expenses for the organization totaled $2.5m during the year ending 12/2022. While expenses have increased by 2.7% per year over the past 4 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 2019, Flagstar Foundation Inc has awarded 504 individual grants totaling $10,067,910. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Correa Managing Director | 3 | $0 | |
Paula Borja Secretary | 3 | $0 | |
Laurie Mcpeck Treasurer | 3 | $0 | |
Gary Wolf Trustee | 3 | $0 | |
Donna Krall Trustee | 3 | $0 | |
Mike Doyle Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $24,449,239 |
| Interest on Savings | $18,360 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $24,467,599 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,378 |
| Total operating and administrative expenses | $314,893 |
| Contributions, gifts, grants paid | $2,222,681 |
| Total expenses and disbursements | $2,537,574 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,520,747 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $23,520,747 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $1,357,482 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,357,482 |
Grants Awarded
Over the last fiscal year, Flagstar Foundation Inc has awarded $2,222,681 in support to 97 organizations.
| Grant Recipient | Amount |
|---|---|
ACCOUNTING AID SOCIETY (AAS) PURPOSE: SEE ATTACHED GENERAL EXPLANATION | $30,000 |
AFFIRMATIONS LESBIAN GAY COMMUNITY CENTER INC PURPOSE: SEE ATTACHED GENERAL EXPLANATION | $25,000 |
AMANI FAMILY SERVICES PURPOSE: SEE ATTACHED GENERAL EXPLANATION | $20,000 |
AMERICAN HEART ASSOCIATION PURPOSE: SEE ATTACHED GENERAL EXPLANATION | $5,000 |
ALAMEDA COUNTY COMMUNITY FOOD BANK PURPOSE: SEE ATTACHED GENERAL EXPLANATION | $1,000 |
AMERICAN RED CROSS - MICHIGAN REGION PURPOSE: SEE ATTACHED GENERAL EXPLANATION | $20,000 |