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← GRAND RAPIDS ECONOMIC CLUB

Form 990 for tax year 2024

Filed by GRAND RAPIDS ECONOMIC CLUB.

Totals

Total revenue
$2,403,136
Total expenses
$2,250,470
Contributions and grants received
$659
Grants paid
$7,565
Program service revenue
$2,368,037
Investment income
$29,375
Other revenue
$5,065
Total assets, end of year
$971,370
Total liabilities, end of year
$1,033
Net assets or fund balances, end of year
$970,337
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 1f · All other contributions, gifts and grants

    $659

  • 2a · Program service revenue: ANNUAL DINNER

    total $1,152,709 · related or exempt $1,152,709

  • 2b · Program service revenue: MEETINGS

    total $874,400 · related or exempt $874,400

  • 2c · Program service revenue: MEMBERSHIP DUES

    total $340,928 · related or exempt $340,928

  • 3 · Investment income

    total $29,392 · excluded $29,392

  • 7a · Gross sales of assets other than inventory

    securities $149,000

  • 7b · Less cost or other basis and sales expenses

    securities $149,017

  • 7c · Gain or loss

    securities -$17

  • 7d · Net gain or loss

    total -$17 · related or exempt -$17

  • 11a · Other revenue: ENDOWMENT FUND GRANT

    total $5,065 · related or exempt $5,065

  • 11e · Other revenue, total

    $5,065

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,565

  • 5 · Compensation of officers, directors and key employees

    total $273,056

  • 7 · Other salaries and wages

    total $159,485

  • 9 · Other employee benefits

    total $4,103

  • 10 · Payroll taxes

    total $31,737

  • 11b · Fees: legal

    total $1,800

  • 11c · Fees: accounting

    total $7,133

  • 12 · Advertising and promotion

    total $29,067

  • 13 · Office expenses

    total $614

  • 16 · Occupancy

    total $23,153

  • 19 · Conferences, conventions and meetings

    total $12,433

  • 23 · Insurance

    total $8,732

  • 24a · Other expenses: COGS

    total $1,575,634

  • 24b · Other expenses: WEBSITE DESIGN

    total $28,800

  • 24c · Other expenses: COMPUTER & TECHNOLOGY EXP

    total $25,183

  • 24d · Other expenses: BANK CHARGES

    total $18,451

  • 24e · All other expenses

    total $43,524

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $241,680 · end of year $68,626

  • 2 · Savings and temporary cash investments

    beginning of year $559,785 · end of year $902,744

  • 7 · Other notes and loans receivable

    beginning of year $19,806

  • 25 · Other liabilities

    beginning of year $9,595 · end of year $1,033

  • 31 · Retained earnings, endowment or other funds

    beginning of year $811,676 · end of year $970,337

Mission and programs · 2024

Mission

TO PROVIDE A FORUM TO CONNECT, INFORM, AND INSPIRE OUR DIVERSE COMMUNITY ABOUT TODAY'S ECONOMIC ISSUES AND RELEVANT TOPICS OF THE DAY.

  • LUNCHEON MEETINGS WITH SPEAKERS ON ECONOMIC ISSUES; PURPOSE IS TO INFORM THE APPROXIMATELY 1,600 MEMBERS ON CURRENT ECONOMIC ISSUES

  • ANNUAL DINNER MEETING FEATURING AN EXPERT SPEAKING ON ECONOMIC ISSUES; THE OBJECTIVE IS TO PROMOTE GREATER UNDERSTANDING ON THE PART OF MEMBERS OF ECONOMIC ISSUES

  • TO PROVIDE A FORUM TO CONNECT, INFORM, AND INSPIRE OUR DIVERSE COMMUNITY ABOUT TODAY'S ECONOMIC ISSUES AND RELEVANT TOPICS OF THE DAY.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Natalia Kovicak

    PRESIDENT

    Total calculated
    $273,056
    From this org
    $247,308
    From related orgs
    $0
    Other
    $25,748
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $247,308
    Bonus
    not reported
    Other
    not reported
    Deferred
    $25,748
    Nontaxable benefits
    not reported
    Filer's total
    $273,056
  • See Attached List

    DIRECTORS

    Total calculated
    $0
  • Dr Philomena Mantella

    VICE-CHAIR

    Total calculated
    $0
  • Joseph Ponstein

    TREASURER

    Total calculated
    $0
  • Sean Welsh

    CHAIR-PERSON

    Total calculated
    $0
  • Bob Wolford

    SECRETARY

    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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • COMMUNITY SUPPORT

    $7,565

Provenance

Return type
form_990
Tax year
2024
Filed
6 October 2025
IRS schema version
2024v5.0
Source object
202533219349313888

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