Form 990 for tax year 2023

Filed by YMCA FOUNDATION.

Totals

Total revenue: $1,455,888
Total expenses: $35,797
Contributions and grants received: $1,246,000
Grants paid: $0
Program service revenue: $0
Investment income: $209,888
Other revenue: $0
Total assets, end of year: $7,480,131
Total liabilities, end of year: $0
Net assets or fund balances, end of year: $7,480,131
Program services expenses (Part IX): $0
Management and general expenses: $35,797
Fundraising expenses: $0
Program service expenses (Part III): $0

Program services were 0.0% 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.

1a · Federated campaigns

$0
1b · Membership dues

$0
1c · Fundraising events

$0
1d · Related organizations

$1,246,000
1e · Government grants (contributions)

$0
1f · All other contributions, gifts and grants

$0
2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
3 · Investment income

total $214,293 · excluded $214,293
6c · Rental income or loss

real property $0 · personal property $0
7a · Gross sales of assets other than inventory

securities $365,759
7b · Less cost or other basis and sales expenses

securities $370,164
7c · Gain or loss

securities -$4,405 · other assets $0
7d · Net gain or loss

total -$4,405 · excluded -$4,405
11d · All other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11e · Other revenue, total

$0

Functional expenses

Part IX, the statement of functional expenses.

3 · Grants to foreign organizations and individuals

total $0 · program services $0
11f · Fees: investment management

total $35,797 · management and general $35,797
11g · Fees: other

total $0 · program services $0 · management and general $0 · fundraising $0
21 · Payments to affiliates

total $0 · program services $0 · management and general $0 · fundraising $0
24e · All other expenses

total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

2 · Savings and temporary cash investments

beginning of year $130,978 · end of year $410,532
5 · Loans and receivables from officers and key people

beginning of year $0 · end of year $0
6 · Loans and receivables from disqualified persons

beginning of year $0 · end of year $0
10a · Land, buildings and equipment: cost or other basis

$0
10b · Land, buildings and equipment: accumulated depreciation

$0
10c · Land, buildings and equipment, net

beginning of year $0 · end of year $0
11 · Investments: publicly traded securities

beginning of year $4,369,675 · end of year $6,079,621
12 · Investments: other securities

beginning of year $1,116,474 · end of year $989,978
13 · Investments: program-related

beginning of year $0
15 · Other assets

beginning of year $0 · end of year $0
20 · Tax-exempt bond liabilities

beginning of year $0 · end of year $0
22 · Loans and payables to officers and key people

beginning of year $0 · end of year $0
23 · Secured mortgages and notes payable

beginning of year $0 · end of year $0
24 · Unsecured notes and loans payable

beginning of year $0 · end of year $0
25 · Other liabilities

beginning of year $0 · end of year $0
27 · Net assets without donor restrictions

beginning of year $2,158,486 · end of year $3,989,490
28 · Net assets with donor restrictions

beginning of year $3,458,641 · end of year $3,490,641

Mission and programs · 2023

Mission

THE YMCA FOUNDATION (THE "FOUNDATION") IS A SUPPORTING ORGANIZATION WHICH SUPPORTS PROGRAMS AND SERVICES ALIGNED WITH THE CHARITABLE PURPOSES OF THE YMCA OF METROPOLITAN DETROIT ("YMCA"), A SECTION 501(C)(3) ORGANIZATION WHICH QUALIFIES AS A PUBLICLY SUPPORTED ORGANIZATION UNDER SECTIONS 509(A)(1) AND 170(B)(1)(A)(VI) OF THE CODE, AND OTHER PUBLIC CHARITIES THAT ARE CLOSELY RELATED IN PURPOSE OR FUNCTION TO THE YMCA. THE FOUNDATION SUPPORTS PROGRAMS AND ACTIVITIES DESIGNED TO ENHANCE CHARACTER, EDUCATION, COMMUNITY DEVELOPMENT, ARTS AND CULTURE, HEALTH, AND SOCIAL SERVICES FOR CHILDREN, FAMILIES AND COMMUNITIES, PRINCIPALLY THOSE CONDUCTED BY THE YMCA.

Activities or mission (Part I)

TO SUPPORT PROGRAMS AND ACTIVITIES DESIGNED TO ENHANCE CHARACTER, EDUCATION, COMMUNITY DEVELOPMENT, ARTS AND CULTURE, HEALTH, AND SOCIAL SERVICES FOR CHILDREN, FAMILIES AND COMMUNITIES, PRINCIPALLY THOSE CONDUCTED BY THE YMCA.

FUNDS FROM THE YMCA FOUNDATION SUPPORT A MYRIAD OF YMCA BRANCH PRIORITIES FROM CAMPING SCHOLARSHIPS AT CAMP OHIYESA AND NISSOKONE, TO DAY CAMP SCHOLARSHIPS AT MULTIPLE BRANCHES ACROSS SOUTHEAST MICHIGAN TO THE Y-ACHIEVERS PROGRAMMING SERVING THE CITY OF DETROIT AND OTHER COMMUNITIES. DESIGNATED GIFTS TO SEVERAL YMCA BRANCHES SUPPORT SPECIFIC PROGRAMS SUCH AS YMCA SWIM TEAMS AND LITERACY INITIATIVES IN ACCORDANCE WITH THE WISHES OF THE ORIGINAL DONORS.

As filed on the 2023 return.

Listed in Part VII

Anthony P Cracchiolo

Chair

Total calculated

$0

Hours/week

2 + 2 related
Helene Weir

President

Total calculated

$329,829

From this org

$0

From related orgs

$299,746

Other

$30,083

Hours/week

5 + 50 related

Schedule J breakdown matched by us

Base

$0 + $260,286 related

Bonus

$0

Other

$0 + $39,460 related

Deferred

$0 + $28,842 related

Nontaxable benefits

$0 + $1,241 related

Filer's total

$0 + $329,829 related
Lisa Mullin

Secretary

Total calculated

$134,853

From this org

$0

From related orgs

$121,936

Other

$12,917

Hours/week

5 + 50 related
Michelle Kotas

Treasurer

Total calculated

$181,361

From this org

$0

From related orgs

$150,476

Other

$30,885

Hours/week

5 + 50 related

Schedule J breakdown matched by us

Base

$0 + $129,753 related

Bonus

$0 + $5,000 related

Other

$0 + $15,723 related

Deferred

$0 + $15,195 related

Nontaxable benefits

$0 + $15,690 related

Filer's total

$0 + $181,361 related
Parrish Underwood

President

Total calculated

$45,505

From this org

$0

From related orgs

$43,582

Other

$1,923

Hours/week

5 + 50 related
Andrew A Dincolo

Board Member

Total calculated

$0

Hours/week

1
Gregory C Hamilton

Board Member

Total calculated

$0

Hours/week

1
Harold Dubrowsky

Board Member

Total calculated

$0

Hours/week

1
John C Carter

Board Member

Total calculated

$0

Hours/week

2 + 2 related
Marita S Grobbel

Board Member

Total calculated

$0

Hours/week

2 + 2 related
Michael E McInerney

Board Member

Total calculated

$0

Hours/week

2 + 2 related
Richard Aginian

Board Member

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

None.

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)

Schedule J, Part I, Line 3: EXECUTIVE COMPENSATION IS PAID AND ESTABLISHED BY A RELATED ORGANIZATION, THE YMCA OF METROPOLITAN DETROIT. THE YMCA OF METROPOLITAN DETROIT'S EXECUTIVE COMPENSATION COMMITTEE DETERMINES THE COMPENSATION OF THE ORGANIZATION'S CEO/PRESIDENT. THE COMMITTEE IS COMPRISED OF THE IMMEDIATE PAST BOARD CHAIRMAN, THE CURRENT BOARD CHAIRMAN, AND THE FUTURE BOARD CHAIRMAN. THE CEO/PRESIDENT IS NOT INVOLVED IN THE REVIEW OR APPROVAL OF HIS OR HER OWN COMPENSATION. THE EXECUTIVE COMPENSATION COMMITTEE MET AT THE END OF THE YEAR TO COMPLETE A PERFORMANCE EVALUATION AND DETERMINE COMPENSATION. DATA FOR COMPARABLE COMPENSATION FOR CEO'S OF SIMILAR SIZED YMCA'S WAS OBTAINED DURING THE REVIEW PROCESS FROM Y-USA. LEGAL COUNSEL IS ALSO CONSULTED, IF NECESSARY, PRIOR TO AND/OR DURING THE MEETING. THE EXECUTIVE COMPENSATION COMMITTEE PROVIDES THE ORGANIZATION WITH WRITTEN INSTRUCTIONS REGARDING THE COMPENSATION AND BONUS TO BE PAID TO THE CEO/PRESIDENT.

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.

YMCA OF METROPOLITAN DETROIT

501(c)(3) · TO BUILD STRONG KIDS, STRONG FAMILIES, AND STRONG COMMUNITIES · MI

Directly controlled by NA

Provenance

Return type: form_990
Tax year: 2023
Filed: 20 September 2024
IRS schema version: 2023v5.1
Source object: 202432649349300228

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