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Nonprofiteer
← GRAND RAPIDS COMMUNITY COLLEGE FOUNDATION

Form 990 for tax year 2024

Filed by GRAND RAPIDS COMMUNITY COLLEGE FOUNDATION.

Totals

Total revenue
$14,947,480
Total expenses
$3,077,481
Contributions and grants received
$2,378,929
Grants paid
$2,334,284
Program service revenue
$0
Investment income
$12,674,900
Other revenue
-$106,349
Total assets, end of year
$45,653,017
Total liabilities, end of year
$1,957,653
Net assets or fund balances, end of year
$43,695,364
Program services expenses (Part IX)
$2,334,284
Management and general expenses
$342,320
Fundraising expenses
$400,877
Program service expenses (Part III)
$2,334,284

Program services were 75.9% 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

    $228,634

  • 1d · Related organizations

    $77,515

  • 1f · All other contributions, gifts and grants

    $2,072,780

  • 1g · Noncash contributions included above

    $64,780

  • 3 · Investment income

    total $1,296,162 · excluded $1,296,162

  • 7a · Gross sales of assets other than inventory

    securities $41,253,040

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

    securities $29,874,302

  • 7c · Gain or loss

    securities $11,378,738

  • 7d · Net gain or loss

    total $11,378,738 · excluded $11,378,738

  • 8a · Fundraising events: gross income

    $43,316

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

    $228,634

  • 8b · Fundraising events: direct expenses

    $149,665

  • 8c · Net income from fundraising events

    total -$106,349 · excluded -$106,349

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,322,937 · program services $2,322,937

  • 2 · Grants to domestic individuals

    total $11,347 · program services $11,347

  • 5 · Compensation of officers, directors and key employees

    total $5,810 · fundraising $5,810

  • 7 · Other salaries and wages

    total $453,597 · management and general $131,067 · fundraising $322,530

  • 11b · Fees: legal

    total $26,834 · management and general $26,834

  • 11c · Fees: accounting

    total $9,175 · management and general $9,175

  • 11f · Fees: investment management

    total $156,983 · management and general $156,983

  • 11g · Fees: other

    total $69,066 · management and general $3,732 · fundraising $65,334

  • 12 · Advertising and promotion

    total $14,529 · management and general $14,529

  • 23 · Insurance

    total $7,203 · fundraising $7,203

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $775,614 · end of year $1,345,347

  • 2 · Savings and temporary cash investments

    beginning of year $1,451,994 · end of year $2,226,008

  • 3 · Pledges and grants receivable

    beginning of year $266,669 · end of year $109,223

  • 11 · Investments: publicly traded securities

    beginning of year $39,287,201 · end of year $41,865,128

  • 15 · Other assets

    beginning of year $122,316 · end of year $107,311

  • 17 · Accounts payable and accrued expenses

    beginning of year $252,609 · end of year $270,542

  • 18 · Grants payable

    beginning of year $454,732 · end of year $10,400

  • 25 · Other liabilities

    beginning of year $1,543,283 · end of year $1,676,711

  • 27 · Net assets without donor restrictions

    beginning of year $10,378,034 · end of year $11,503,547

  • 28 · Net assets with donor restrictions

    beginning of year $29,275,136 · end of year $32,191,817

Mission and programs · 2024

Mission

IT IS THE MISSION OF THE GRCC FOUNDATION TO SECURE AND MANAGE FINANCIAL GIFTS TO SUPPORT AND PROMOTE STUDENT, EMPLOYEE AND COMMUNITY LEARNING, ENABLING THE COLLEGE TO FULFILL ITS MISSION AND VISION.

Activities or mission (Part I)

TO SECURE AND MANAGE FINANCIAL GIFTS IN SUPPORT OF STUDENT, EMPLOYEE, AND COMMUNITY LEARNING.

  • TRANSFERS TO GRAND RAPIDS COMMUNITY COLLEGE FOR CAPITAL IMPROVEMENTS AND SUPPORT OF VARIOUS PROGRAMS.

    Expenses $423,999 · Grants $423,999

  • THE FOUNDATION PROVIDED $1,910,285 IN SUPPORT TO GRAND RAPIDS COMMUNITY COLLEGE STUDENTS AND FACULTY. THIS FUNDING INCLUDED $1,486,436 IN DIRECT SCHOLARSHIPS AND GRANTS, SUPPORTED BY $423,849 IN PROGRAM SERVICES. THESE AWARDS FACILITATED VITAL OPPORTUNITIES FOR STUDENT SUCCESS, FACULTY PROFESSIONAL DEVELOPMENT, AND INSTRUCTIONAL IMPROVEMENT.

    Expenses $1,910,285 · Grants $1,910,285

As filed on the 2024 return.

Listed in Part VII

  • Charles Lepper

    DIRECTOR - PART YEAR

    Total calculated
    $376,179
    From this org
    $0
    From related orgs
    $326,070
    Other
    $50,109
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $252,881 related
    Bonus
    $0
    Other
    $0 + $73,189 related
    Deferred
    $0 + $34,000 related
    Nontaxable benefits
    $0 + $16,109 related
    Filer's total
    $0 + $376,179 related

  • Lisa Freiburger

    ASSISTANT TREASURER - PART YEAR

    Total calculated
    $275,389
    From this org
    $0
    From related orgs
    $198,479
    Other
    $76,910
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $184,250 related
    Bonus
    $0
    Other
    $0 + $14,229 related
    Deferred
    $0 + $60,827 related
    Nontaxable benefits
    $0 + $16,083 related
    Filer's total
    $0 + $275,389 related

  • Erin Van Egmond

    EXECUTIVE DIRECTOR

    Total calculated
    $192,884
    From this org
    $108,389
    From related orgs
    $27,097
    Other
    $57,398
    Hours/week
    32 + 8 related

    Schedule J breakdown matched by us

    Base
    $95,350 + $23,837 related
    Bonus
    $0
    Other
    $13,039 + $3,260 related
    Deferred
    $33,031 + $8,258 related
    Nontaxable benefits
    $12,887 + $3,222 related
    Filer's total
    $154,307 + $38,577 related

  • Vikki Jobe-Cooper

    DIRECTOR

    Total calculated
    $168,254
    From this org
    $0
    From related orgs
    $108,494
    Other
    $59,760
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $106,689 related
    Bonus
    $0
    Other
    $0 + $1,805 related
    Deferred
    $0 + $38,752 related
    Nontaxable benefits
    $0 + $21,008 related
    Filer's total
    $0 + $168,254 related

  • Steven Triezenberg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 39 related

  • Nancy Ayres

    VICE-CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Jeff Pauza

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Julie Lepzinski

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Kristine Babcock

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Stephen Abid

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Beth Banta

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Bottrall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kenyatta Brame

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James Buzzitta

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Despres

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Alan Doering

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marcus Jackson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ellen James

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brandy Lovelady Mitchell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jenn Martin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kaylee Moreno Burke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Arian Nelson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Samuel Ojo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Alejandro Quiroga

    DIRECTOR - PART YEAR

    Total calculated
    $0
    Hours/week
    1

  • Eddie Rucker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sheryl Siegel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Aaron Turner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kate Veenstra

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Walters

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Teresa Weatherall Neal

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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
  • 2 · Substantiation required before reimbursing expenses

Answered no

  • 1b · Written policy on the line-1a 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
COUNTRY CLUB DUES ARE TREATED AS TAXABLE INCOME TO THE PRESIDENT, WHO UTILIZES THE MEMBERSHIP FOR BUSINESS PURPOSES.
PART I, LINE 3
THE COMPENSATION FOR THE EXECUTIVE DIRECTOR IS ESTABLISHED BY GRAND RAPIDS COMMUNITY COLLEGE POLICY AND PROCEDURES, APPROVED BY THE COLLEGE PRESIDENT, THE COLLEGE BOARD OF TRUSTEES, AND THE GRCC FOUNDATION BOARD OF DIRECTORS. COMPENSATION FOR COMPARABLE POSITIONS AT OTHER SIMILAR EDUCATIONAL INSTITUTIONS IS CONSIDERED IN SETTING COMPENSATION LEVELS.

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

  • GRAND RAPIDS COMMUNITY COLLEGE

    $2,257,157

    PROGRAM SUPPORT

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.

  • GRAND RAPIDS COMMUNITY COLLEGE

    115 · HIGHER EDUCATION · MI

Provenance

Return type
form_990
Tax year
2024
Filed
9 April 2026
IRS schema version
2024v5.5
Source object
202631009349300123

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