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Nonprofiteer
← HENRY FORD COMMUNITY COLLEGE FOUNDATION

Form 990 for tax year 2024

Filed by HENRY FORD COMMUNITY COLLEGE FOUNDATION.

Totals

Total revenue
$3,614,052
Total expenses
$2,457,253
Contributions and grants received
$2,313,973
Grants paid
$2,141,263
Program service revenue
$0
Investment income
$1,297,189
Other revenue
$2,890
Total assets, end of year
$26,775,848
Total liabilities, end of year
$510,568
Net assets or fund balances, end of year
$26,265,280
Program services expenses (Part IX)
$2,141,263
Management and general expenses
$315,990
Fundraising expenses
$0
Program service expenses (Part III)
$2,141,263

Program services were 87.1% 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

    $1,300

  • 1f · All other contributions, gifts and grants

    $2,312,673

  • 1g · Noncash contributions included above

    $3,000

  • 3 · Investment income

    total $550,878 · excluded $550,878

  • 7a · Gross sales of assets other than inventory

    securities $7,270,552

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

    securities $6,524,241

  • 7c · Gain or loss

    securities $746,311

  • 7d · Net gain or loss

    total $746,311 · excluded $746,311

  • 8a · Fundraising events: gross income

    $9,880

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

    $1,300

  • 8b · Fundraising events: direct expenses

    $6,990

  • 8c · Net income from fundraising events

    total $2,890 · excluded $2,890

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,727,772 · program services $1,727,772

  • 2 · Grants to domestic individuals

    total $413,491 · program services $413,491

  • 11b · Fees: legal

    total $4,338 · management and general $4,338

  • 11c · Fees: accounting

    total $25,000 · management and general $25,000

  • 11f · Fees: investment management

    total $216,042 · management and general $216,042

  • 23 · Insurance

    total $6,912 · management and general $6,912

  • 24a · Other expenses: LICENSE FEES

    total $55,441 · management and general $55,441

  • 24b · Other expenses: MEMBERSHIP/DUES

    total $8,257 · management and general $8,257

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $662,442 · end of year $944,752

  • 3 · Pledges and grants receivable

    beginning of year $1,848,312 · end of year $382,432

  • 11 · Investments: publicly traded securities

    beginning of year $19,966,064 · end of year $23,599,351

  • 12 · Investments: other securities

    beginning of year $1,574,412 · end of year $1,834,969

  • 15 · Other assets

    beginning of year $45,874 · end of year $14,344

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,157 · end of year $29,038

  • 18 · Grants payable

    beginning of year $70,560 · end of year $481,530

  • 27 · Net assets without donor restrictions

    beginning of year $6,037,461 · end of year $6,613,539

  • 28 · Net assets with donor restrictions

    beginning of year $17,980,926 · end of year $19,651,741

Mission and programs · 2024

Mission

THE MISSION OF THE HFC FOUNDATION IS TO RAISE CHARITABLE SUPPORT FOR HENRY FORD COLLEGE BY BUILDING LONG-TERM RELATIONSHIPS WITH BUSINESS, CIVIC AND COMMUNITY LEADERS; ALUMNI; CORPORATE AND PHILANTHROPIC FOUNDATIONS; AND INDIVIDUALS OF INFLUENCE AND AFFLUENCE, IN SUPPORT OF THE GOALS AND OBJECTIVES OF THE COLLEGE AND THE EDUCATIONAL AND CAREER ASPIRATIONS OF HFC STUDENTS.

Activities or mission (Part I)

SUPPORT PROGRAMS & SERVICES AT HENRY FORD COLLEGE

  • EDUCATIONAL SCHOLARSHIP FUNDS-ALL SCHOLARSHIP, FUNDS AND PROGRAM QUALIFY AS EDUCATIONAL

    Expenses $413,491 · Grants $413,491

  • SPECIAL EDUCATION PROGRAMS-DONEE OF ALL SCHOLARSHIPS, FUNDS AND PROGRAMS IS: HENRY FORD COLLEGE, 5101 EVERGREEN, DEARBORN, MI 48128

    Expenses $1,724,772 · Grants $1,724,772

  • CONTRIBUTIONS OF NON-CASH ITEMS TRANSFERRED TO HENRY FORD COLLEGE

    Expenses $3,000 · Grants $3,000

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

Listed in Part VII

  • RUSSELL KAVALHUNA

    PRESIDENT OF HFC

    Total calculated
    $410,124
    From this org
    $0
    From related orgs
    $404,044
    Other
    $6,080
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $291,656 related
    Bonus
    $0 + $109,704 related
    Other
    $0 + $2,684 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $6,080 related
    Filer's total
    $0 + $410,124 related

  • STEPHEN QUINLAN

    CHAIR - PART YEAR

    Total calculated
    $0
    Hours/week
    0.1

  • J MICHAEL KIRK

    CHAIR

    Total calculated
    $0
    Hours/week
    0.1

  • JEANNE MARTENS

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.1

  • JOHN GRENKE

    TREASURER

    Total calculated
    $0
    Hours/week
    0.1

  • DENISE MCDONALD

    FORMER CHAIR

    Total calculated
    $0
    Hours/week
    0.1

  • ROBERT ABRAHAM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • CYNTHIA HANES BERRY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • FAY BEYDOUN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • TYRONE A CARTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • RENATA CROOMS

    DIRECTOR - PART YEAR

    Total calculated
    $0
    Hours/week
    0.1

  • BAHIYA FAWAZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • JENNIFER DICKEY

    DIRECTOR - PART YEAR

    Total calculated
    $0
    Hours/week
    0.1

  • JOAN HENNESSEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • ERIC LONGS

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.1

  • JACQUELINE LOVEJOY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • ANTHONY C MORTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • MATT O'BRYAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • ALAN R OSBORNE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • ROBERT L TURFE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • ROBERT ZAKAR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • MARGARET BLOHM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • IRENE WATTS

    DIRECTOR - PART YEAR

    Total calculated
    $0
    Hours/week
    0.1

  • A REGINALD BEST

    EXECUTIVE DIRECTOR

    Total calculated
    $210,879
    From this org
    $0
    From related orgs
    $198,084
    Other
    $12,795
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $194,361 related
    Bonus
    $0 + $2,000 related
    Other
    $0 + $1,723 related
    Deferred
    $0 + $3,764 related
    Nontaxable benefits
    $0 + $9,031 related
    Filer's total
    $0 + $210,879 related

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

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses

Answered no

  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
HENRY FORD COLLEGE FOUNDATION PAYS FOR THE DETROIT ATHLETIC CLUB FEES FOR ONE OFFICER WHO UTILIZES FOR BUSINESS PURPOSES. THE BENEFIT IS NOT TREATED AS TAXABLE COMPENSATION TO THE OFFICER.

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

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
5 February 2026
IRS schema version
2024v5.5
Source object
202640589349300629

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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