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Nonprofiteer
← GREATER GRAND RAPIDS CHAMBER FOUNDATION

Form 990 for tax year 2024

Filed by GREATER GRAND RAPIDS CHAMBER FOUNDATION.

Totals

Total revenue
$679,438
Total expenses
$942,307
Contributions and grants received
$651,773
Grants paid
$36,293
Program service revenue
$0
Investment income
$25,836
Other revenue
$1,829
Total assets, end of year
$2,702,247
Total liabilities, end of year
$2,015,258
Net assets or fund balances, end of year
$686,989
Program services expenses (Part IX)
$883,239
Management and general expenses
$33,916
Fundraising expenses
$25,152
Program service expenses (Part III)
$883,239

Program services were 93.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $20,751

  • 1e · Government grants (contributions)

    $98,495

  • 1f · All other contributions, gifts and grants

    $532,527

  • 3 · Investment income

    total $25,836 · unrelated business $0 · excluded $25,836

  • 8a · Fundraising events: gross income

    $6,180

  • 8a · Fundraising events: contributions included on line 1c

    $20,751

  • 8b · Fundraising events: direct expenses

    $7,223

  • 8c · Net income from fundraising events

    total -$1,043 · unrelated business $0 · excluded -$1,043

  • 11a · Other revenue: Contract

    total $2,872 · related or exempt $2,872 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $2,872

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $36,293 · program services $36,293

  • 7 · Other salaries and wages

    total $164,760 · program services $140,046 · management and general $8,238 · fundraising $16,476

  • 9 · Other employee benefits

    total $39,087 · program services $33,224 · management and general $1,954 · fundraising $3,909

  • 10 · Payroll taxes

    total $12,598 · program services $10,709 · management and general $629 · fundraising $1,260

  • 11g · Fees: other

    total $14,114 · program services $4,976 · management and general $9,138 · fundraising $0

  • 12 · Advertising and promotion

    total $7,257 · program services $0 · management and general $7,257 · fundraising $0

  • 13 · Office expenses

    total $6,009 · program services $0 · management and general $2,502 · fundraising $3,507

  • 14 · Information technology

    total $373 · program services $0 · management and general $373 · fundraising $0

  • 16 · Occupancy

    total $20,096 · program services $20,096 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $529 · program services $0 · management and general $529 · fundraising $0

  • 24a · Other expenses: Contracted services

    total $612,895 · program services $612,895 · management and general $0 · fundraising $0

  • 24b · Other expenses: Community Support

    total $25,000 · program services $25,000 · management and general $0 · fundraising $0

  • 24c · Other expenses: Dues and subscriptions

    total $3,296 · program services $0 · management and general $3,296 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $957,828 · end of year $816,812

  • 2 · Savings and temporary cash investments

    beginning of year $33,070

  • 4 · Accounts receivable

    beginning of year $93,250 · end of year $60

  • 15 · Other assets

    beginning of year $2,474,606 · end of year $1,885,375

  • 17 · Accounts payable and accrued expenses

    beginning of year $95,926 · end of year $147,470

  • 19 · Deferred revenue

    beginning of year $123,738 · end of year $67,788

  • 25 · Other liabilities

    beginning of year $2,400,000 · end of year $1,800,000

  • 27 · Net assets without donor restrictions

    beginning of year $700,758 · end of year $585,370

  • 28 · Net assets with donor restrictions

    beginning of year $238,332 · end of year $101,619

Mission and programs · 2024

Mission

To provide programming and funding that encourages free enterprise, enhances the quality of life in the greater Grand Rapids area, or otherwise serves a charitable, scientific, literary, or educational purpose.

  • Community Collaboration Initiative - This year, funding was used for an Ease of Doing Business Study and to support work around Public Safety.

    Expenses $144,511

  • Minority Business Development and Leadership- The Foundation built out a Center for Economic Inclusion with diverse business certifications and renewals. Center for Economic Inclusion programming works to foster economic inclusion and help small businesses thrive with an intentional focus on diversely-owned businesses. The Foundation also distributed funds for 25 scholarships to cultivate community and organizational leaders.

    Expenses $202,734

  • Housing Next - The Foundation works to remove obstacles to increase the affordable housing supply across Kent and Ottawa Counties through a focus on research, data-based solutions, tools for growth, technical assistance, and community will-building to increase supply.

    Expenses $535,994

As filed on the 2024 return.

Listed in Part VII

  • Nelson Sanchez

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Dan Meyering

    Director

    Total calculated
    $0
    Hours/week
    1

  • Kim McLaughlin

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jeff Lumpp

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Crowley

    Director

    Total calculated
    $0
    Hours/week
    1

  • Brad Thomas

    Director

    Total calculated
    $0
    Hours/week
    1

  • Michael Nelson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Alisha Cieslak

    Director

    Total calculated
    $0
    Hours/week
    1

  • Michael Davenport

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mike Verhulst

    Director

    Total calculated
    $0
    Hours/week
    1

  • Megan Rydecki

    Director

    Total calculated
    $0
    Hours/week
    1

  • Teresa Weatherall Neal

    Director

    Total calculated
    $0
    Hours/week
    1

  • David Leonard

    Director

    Total calculated
    $0
    Hours/week
    1

  • Charles Lepper

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jonathon Wilson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Rick Baker

    CEO

    Total calculated
    $0

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
30 April 2025
IRS schema version
2024v5.1
Source object
202521359349300837

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