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Nonprofiteer
← MACOMB COMMUNITY COLLEGE FOUNDATION

Form 990 for tax year 2023

Filed by MACOMB COMMUNITY COLLEGE FOUNDATION.

Totals

Total revenue
$5,577,870
Total expenses
$2,969,970
Contributions and grants received
$2,133,347
Grants paid
$2,890,278
Program service revenue
$0
Investment income
$3,211,042
Other revenue
$233,481
Total assets, end of year
$36,529,087
Total liabilities, end of year
$75,469
Net assets or fund balances, end of year
$36,453,618
Program services expenses (Part IX)
$2,890,278
Management and general expenses
$79,692
Fundraising expenses
$0
Program service expenses (Part III)
$2,890,278

Program services were 97.3% 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

    $18,214

  • 1d · Related organizations

    $316,395

  • 1f · All other contributions, gifts and grants

    $1,798,738

  • 3 · Investment income

    total $1,578,587 · excluded $1,578,587

  • 7a · Gross sales of assets other than inventory

    securities $9,466,665

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

    securities $7,834,210

  • 7c · Gain or loss

    securities $1,632,455

  • 7d · Net gain or loss

    total $1,632,455 · excluded $1,632,455

  • 8a · Fundraising events: gross income

    $192,115

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

    $18,214

  • 8b · Fundraising events: direct expenses

    $65,450

  • 8c · Net income from fundraising events

    total $126,665 · excluded $126,665

  • 9a · Gaming: gross income

    $8,898

  • 9b · Gaming: direct expenses

    $4,889

  • 9c · Net income from gaming

    total $4,009 · excluded $4,009

  • 11a · Other revenue: ADVANCEMENT FEE

    total $102,807 · excluded $102,807

  • 11e · Other revenue, total

    $102,807

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,890,278 · program services $2,890,278

  • 11f · Fees: investment management

    total $78,518 · management and general $78,518

  • 24a · Other expenses: BANK FEES

    total $1,174 · management and general $1,174

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $427,480 · end of year $208,343

  • 3 · Pledges and grants receivable

    beginning of year $4,026 · end of year $50,876

  • 11 · Investments: publicly traded securities

    beginning of year $32,599,425 · end of year $35,912,717

  • 15 · Other assets

    beginning of year $34,957 · end of year $357,151

  • 17 · Accounts payable and accrued expenses

    beginning of year $20,725 · end of year $22,019

  • 19 · Deferred revenue

    beginning of year $83,350 · end of year $53,450

  • 27 · Net assets without donor restrictions

    beginning of year $15,236,915 · end of year $19,402,162

  • 28 · Net assets with donor restrictions

    beginning of year $17,724,898 · end of year $17,051,456

Mission and programs · 2023

Mission

TO PROVIDE SUPPORT FOR THE MISSION AND EDUCATIONAL PURPOSES OF MACOMB COMMUNITY COLLEGE IN A CHARITABLE MANNER INCLUDING, BY WAY OF ILLUSTRATION BUT NOT LIMITATION, THE PROMOTION, SPONSORSHIP AND CARRYING OUT OF THE EDUCATIONAL AND CULTURAL MISSIONS OF THE COLLEGE.

Activities or mission (Part I)

TO SUPPORT AND PROMOTE THE EDUCATIONAL AND CULTURAL ACTIVITIES AT AND ON BEHALF OF MACOMB COMMUNITY COLLEGE.

  • AMOUNT DISTRIBUTED TO MACOMB COMMUNITY COLLEGE IN SUPPORT OF ITS EDUCATIONAL AND CULTURAL MISSION

    Expenses $2,890,278 · Grants $2,890,278

As filed on the 2023 return.

Listed in Part VII

  • JAMES O SAWYER IV

    CHAIR/PRESIDENT

    Total calculated
    $465,885
    From this org
    $0
    From related orgs
    $359,071
    Other
    $106,814
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $359,071 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $91,996 related
    Nontaxable benefits
    $0 + $14,818 related
    Filer's total
    $0 + $465,885 related

  • KATHERINE LORENZO

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.3 + 2 related

  • ELIZABETH A ARGIRI

    TREASURER

    Total calculated
    $323,388
    From this org
    $0
    From related orgs
    $234,108
    Other
    $89,280
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $234,108 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $69,719 related
    Nontaxable benefits
    $0 + $19,561 related
    Filer's total
    $0 + $323,388 related

  • KEVIN CHANDLER

    SECRETARY

    Total calculated
    $192,667
    From this org
    $0
    From related orgs
    $155,659
    Other
    $37,008
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $155,659 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $18,488 related
    Nontaxable benefits
    $0 + $18,520 related
    Filer's total
    $0 + $192,667 related

  • DIANE BANKS

    FOUNDATION DIRECTOR

    Total calculated
    $88,825
    From this org
    $0
    From related orgs
    $69,946
    Other
    $18,879
    Hours/week
    40

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

  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee

Answered no

  • 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 3
THE COMPENSATION OF THE PRESIDENT WHO IS PAID BY A RELATED ORGANIZATION IS DETERMINED BY WRITTEN EMPLOYMENT CONTRACT AND APPROVAL BY THE BOARD.

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
2023
Filed
5 May 2025
IRS schema version
2023v6.0
Source object
202541259349301469

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