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Nonprofiteer
← GRAND ACTION FOUNDATION 2 0

Form 990 for tax year 2023

Filed by GRAND ACTION FOUNDATION 2 0.

Totals

Total revenue
$23,573,841
Total expenses
$13,403,834
Contributions and grants received
$23,155,982
Grants paid
$0
Program service revenue
$0
Investment income
$417,859
Other revenue
$0
Total assets, end of year
$44,255,004
Total liabilities, end of year
$42,209,900
Net assets or fund balances, end of year
$2,045,104
Program services expenses (Part IX)
$13,109,745
Management and general expenses
$252,089
Fundraising expenses
$42,000
Program service expenses (Part III)
$13,109,745

Program services were 97.8% 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.

  • 1e · Government grants (contributions)

    $5,389,232

  • 1f · All other contributions, gifts and grants

    $17,766,750

  • 3 · Investment income

    total $417,859 · excluded $417,859

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $218,753 · program services $126,000 · management and general $50,753 · fundraising $42,000

  • 7 · Other salaries and wages

    total $57,250 · management and general $57,250

  • 8 · Pension plan contributions

    total $2,180 · management and general $2,180

  • 9 · Other employee benefits

    total $12,596 · management and general $12,596

  • 10 · Payroll taxes

    total $17,700 · management and general $17,700

  • 11d · Fees: lobbying

    total $60,000 · program services $60,000

  • 11g · Fees: other

    total $12,979,309 · program services $12,923,745 · management and general $55,564

  • 13 · Office expenses

    total $23,658 · management and general $23,658

  • 16 · Occupancy

    total $25,668 · management and general $25,668

  • 24a · Other expenses: MISCELLANEOUS

    total $6,720 · management and general $6,720

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,795,684 · end of year $13,154,617

  • 3 · Pledges and grants receivable

    beginning of year $15,551,711 · end of year $31,067,841

  • 15 · Other assets

    beginning of year $53,546 · end of year $32,546

  • 17 · Accounts payable and accrued expenses

    beginning of year $689,789 · end of year $4,103,977

  • 21 · Escrow or custodial account liability

    beginning of year $20,001,904 · end of year $38,073,378

  • 25 · Other liabilities

    beginning of year $53,547 · end of year $32,545

  • 27 · Net assets without donor restrictions

    beginning of year $655,701 · end of year $2,045,104

Mission and programs · 2023

Mission

TO PROMOTE ECONOMIC AND CULTURAL DEVELOPMENT OF GRAND RAPIDS, MICHIGAN

Activities or mission (Part I)

TO PROMOTE ECONOMIC & CULTURAL DEVELOPMENT OF GRAND RAPIDS, MI

  • AS PART OF THE 2.0 LAUNCH, GRAND ACTION FOUNDATION HAS REENGAGED CONVENTION SPORTS AND LEISURE INTERNATIONAL (CSL) TO PROVIDE UPDATES ON INITIATIVES AND RECOMMENDATIONS WHICH WERE IDENTIFIED IN THE ORIGINAL DESTINATION ASSET STUDY CONDUCTED FOUR YEARS AGO. THE PROJECTS IDENTIFIED INCLUDE PENDING OPPORTUNITIES FOR EXPLORATION AS FUTURE GRAND ACTION PROJECTS WHICH MAY CONSIST OF: AN EXPANSION OF DEVOS PLACE, THE CONSTRUCTION OF AN OUTDOOR AMPHITHEATER, THE CONSTRUCTION OF A SOCCER/FIELD SPORTS ARENA, OR AN AERIAL TRANSPORTATION/GONDOLA PROJECT. THE RESEARCH WILL ASSIST GRAND ACTION IN DEVELOPING A PLAN AND STRATEGIES FOR FUTURE INVESTMENT IN DESTINATION ASSETS AND THE ECONOMIC DEVELOPMENT OF GRAND RAPIDS. GRAND ACTION FOUNDATION'S ROLE IS IN PROVIDING FINANCIAL SUPPORT FOR THESE STUDIES AND CONSTRUCTION OF POTENTIAL FUTURE PROJECTS.AS PART OF THIS PROCESS, GRAND ACTION FOUNDATION WILL CONTINUE TO WORK WITH GOVERNMENTAL BODIES, PUBLIC-PRIVATE PARTNERSHIPS, NONPROFIT ORGANIZATIONS, EDUCATIONAL INSTITUTIONS, COMMUNITY LEADERS, AND THE GENERAL PUBLIC IN PLANNING, PROMOTING, DEVELOPING, ORGANIZING, AND OVERSEEING THE REALIZATION OF CIVIC, CULTURAL, EDUCATIONAL, SCIENTIFIC RESEARCH, AND ENTERTAINMENT FACILITIES, WITH A GOAL OF FOSTERING, SUPPORTING, ENCOURAGING, AND REINFORCING ECONOMIC, SOCIAL, AND CULTURAL DEVELOPMENT IN THE GREATER GRAND RAPIDS AREA AND IN THE SURROUNDING AREAS OF WEST MICHIGAN. GAF 2.0'S WORK IS NEARING COMPLETION FOR THE PLANNING AND DESIGN FOR TWO PROJECTS, A DOWNTOWN AMPHITHEATER AND A SOCCER STADIUM. THE PROJECTS ARE IN THE LATE STAGES OF DESIGN AND DEVELOPMENT AND GAF 2.0 IS CONTINUING TO ADVANCE DESIGN DEVELOPMENT OF THE TWO FACILITIES AS MILESTONES ARE ACHIEVED AND GAF 2.0 WILL CONTINUE TO PROVIDE FINANCIAL SUPPORT FOR THE STUDIES, DESIGN AND CONSTRUCTION OF THE TWO FACILITIES.

    Expenses $13,109,745

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Richard Devos Jr

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.25

  • Carol Van Andel

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.25

  • Thomas G Welch Jr

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Kara Wood

    EXECUTIVE DIRECTOR

    Total calculated
    $214,912
    From this org
    $198,028
    From related orgs
    $0
    Other
    $16,884
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $198,028
    Bonus
    $0
    Other
    $0
    Deferred
    $10,352
    Nontaxable benefits
    $6,532
    Filer's total
    $214,912

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 · 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

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

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • GRAND ACTION 20

    C · DEVELOPER FOR THE GREATER GRAND RAPIDS AREA · MI

Provenance

Return type
form_990
Tax year
2023
Filed
14 February 2025
IRS schema version
2023v6.0
Source object
202510459349300241

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