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Nonprofiteer
← COMMUNITY CHOICE FOUNDATION

Form 990 for tax year 2023

Filed by COMMUNITY CHOICE FOUNDATION.

Totals

Total revenue
$160,670
Total expenses
$104,000
Contributions and grants received
$160,579
Grants paid
$104,000
Program service revenue
$0
Investment income
$91
Other revenue
$0
Total assets, end of year
$241,834
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$241,834
Program services expenses (Part IX)
$104,000
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$104,000

Program services were 100.0% 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.

  • 1d · Related organizations

    $75,000

  • 1f · All other contributions, gifts and grants

    $85,579

  • 3 · Investment income

    total $91 · excluded $91

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,000 · program services $4,000

  • 2 · Grants to domestic individuals

    total $100,000 · program services $100,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $185,164 · end of year $241,834

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $185,164 · end of year $241,834

Mission and programs · 2023

Mission

PROVIDING HIGHER LEARNING SCHOLARSHIPS FOR GRADUATING HIGH SCHOOL, CONTINUING EDUCATION, AND SKILLED TRADES TO MICHIGAN STUDENTS.

  • FIFTEEN SCHOLARSHIPS OF $5,000 AND TEN SCHOLARSHIPS OF $2,500 EACH WERE DISTRIBUTED TO GRADUATING HIGH SCHOOL, CONTINUING EDUCATION AND SKILLED TRADES STUDENTS IN THE STATE OF MICHIGAN.

    Expenses $100,000 · Grants $100,000

  • EIGHT ORGANIZATIONS RECEIVED GRANTS THROUGH PAYROLL DEDUCTIONS BY TEAM MEMBERS.

    Expenses $4,000 · Grants $4,000

As filed on the 2023 return.

Listed in Part VII

  • Robert Bava

    PRESIDENT

    Total calculated
    $1,141,776
    From this org
    $0
    From related orgs
    $1,063,998
    Other
    $77,778
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $765,331 related
    Bonus
    $0 + $293,535 related
    Other
    $0 + $5,132 related
    Deferred
    $0 + $52,500 related
    Nontaxable benefits
    $0 + $25,278 related
    Filer's total
    $0 + $1,141,776 related

  • Dan Munro

    VICE PRESIDENT

    Total calculated
    $591,795
    From this org
    $0
    From related orgs
    $518,261
    Other
    $73,534
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $386,961 related
    Bonus
    $0 + $127,750 related
    Other
    $0 + $3,550 related
    Deferred
    $0 + $52,500 related
    Nontaxable benefits
    $0 + $21,034 related
    Filer's total
    $0 + $591,795 related

  • Donna Siejutt

    SECRETARY

    Total calculated
    $373,362
    From this org
    $0
    From related orgs
    $320,121
    Other
    $53,241
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $233,364 related
    Bonus
    $0 + $67,500 related
    Other
    $0 + $19,257 related
    Deferred
    $0 + $31,339 related
    Nontaxable benefits
    $0 + $21,902 related
    Filer's total
    $0 + $373,362 related

  • Kelli Wisner-Frank

    TREASURER

    Total calculated
    $458,972
    From this org
    $0
    From related orgs
    $403,919
    Other
    $55,053
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $305,279 related
    Bonus
    $0 + $89,940 related
    Other
    $0 + $8,700 related
    Deferred
    $0 + $31,401 related
    Nontaxable benefits
    $0 + $23,652 related
    Filer's total
    $0 + $458,972 related

  • Jennifer Hurren

    TRUSTEE

    Total calculated
    $344,753
    From this org
    $0
    From related orgs
    $320,702
    Other
    $24,051
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $244,793 related
    Bonus
    $0 + $60,000 related
    Other
    $0 + $15,909 related
    Deferred
    $0 + $22,500 related
    Nontaxable benefits
    $0 + $1,551 related
    Filer's total
    $0 + $344,753 related

  • Teresa Mayer

    TRUSTEE

    Total calculated
    $375,094
    From this org
    $0
    From related orgs
    $337,731
    Other
    $37,363
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $262,831 related
    Bonus
    $0 + $63,200 related
    Other
    $0 + $11,700 related
    Deferred
    $0 + $32,764 related
    Nontaxable benefits
    $0 + $4,599 related
    Filer's total
    $0 + $375,094 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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 4B
THE FOLLOWING PARTICIPANTS PARTICIPATE IN A NON-QUALIFIED RETIREMENT PLAN: DANIEL MUNRO KELLI WISNER-FRANK ROBERT BAVA TERESA MAYER DONNA SIEJUTT DAN MUNRO, COO/EVP PARTICIPATES IN A 457F PLAN. THE ACCRUED BENEFIT LIABILITY AS OF DECEMBER 31, 2023 APPROXIMATED $347,000. COMMUNITY CHOICE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE CEO, ROBERT BAVA, THE CHRO, DONNA SIEJUTT, AND THE CFO, KELLI WISNER-FRANK, THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." AT SPECIFIED TIMES, THE PARTICIPANT MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS.

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.

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
12 November 2024
IRS schema version
2023v5.1
Source object
202433199349313183

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