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Nonprofiteer
← GREATER GRAND RAPIDS CHAMBER FOUNDATION

Form 990 for tax year 2022

Filed by GREATER GRAND RAPIDS CHAMBER FOUNDATION.

Totals

Total revenue
$2,626,007
Total expenses
$2,089,561
Contributions and grants received
$2,601,348
Grants paid
$48,783
Program service revenue
$0
Investment income
$13
Other revenue
$24,646
Total assets, end of year
$4,503,098
Total liabilities, end of year
$3,866,068
Net assets or fund balances, end of year
$637,030
Program services expenses (Part IX)
$2,067,055
Management and general expenses
$14,235
Fundraising expenses
$8,271
Program service expenses (Part III)
$2,067,055

Program services were 98.9% 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

    $38,000

  • 1f · All other contributions, gifts and grants

    $2,563,348

  • 3 · Investment income

    total $13 · unrelated business $0 · excluded $13

  • 8a · Fundraising events: gross income

    $10,495

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

    $38,000

  • 8b · Fundraising events: direct expenses

    $6,267

  • 8c · Net income from fundraising events

    total $4,228 · unrelated business $0 · excluded $4,228

  • 11a · Other revenue: Contract

    total $16,948 · related or exempt $16,948 · unrelated business $0 · excluded $0

  • 11b · Other revenue: Other

    total $3,470 · related or exempt $3,470 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $20,418

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $48,783 · program services $48,783

  • 7 · Other salaries and wages

    total $66,400 · program services $53,120 · management and general $6,640 · fundraising $6,640

  • 9 · Other employee benefits

    total $10,999 · program services $8,799 · management and general $1,100 · fundraising $1,100

  • 10 · Payroll taxes

    total $5,314 · program services $4,252 · management and general $531 · fundraising $531

  • 11g · Fees: other

    total $1,566,909 · program services $1,563,380 · management and general $3,529 · fundraising $0

  • 13 · Office expenses

    total $1,183 · program services $0 · management and general $1,183 · fundraising $0

  • 14 · Information technology

    total $484 · program services $0 · management and general $484 · fundraising $0

  • 24a · Other expenses: Community support

    total $298,000 · program services $298,000 · management and general $0 · fundraising $0

  • 24b · Other expenses: Contracted services

    total $90,721 · program services $90,721 · management and general $0 · fundraising $0

  • 24c · Other expenses: Food and venue

    total $768 · program services $0 · management and general $768 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $953,899 · end of year $748,292

  • 2 · Savings and temporary cash investments

    beginning of year $33,056 · end of year $33,062

  • 4 · Accounts receivable

    beginning of year $136,926 · end of year $46,850

  • 9 · Prepaid expenses and deferred charges

    end of year $9,000

  • 15 · Other assets

    beginning of year $3,877,768 · end of year $3,665,894

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,009,241 · end of year $180,905

  • 19 · Deferred revenue

    beginning of year $79,950 · end of year $85,163

  • 25 · Other liabilities

    beginning of year $3,800,000 · end of year $3,600,000

  • 27 · Net assets without donor restrictions

    beginning of year -$192,529 · end of year $346,837

  • 28 · Net assets with donor restrictions

    beginning of year $304,987 · end of year $290,193

Mission and programs · 2022

Mission

To provide programming and funding that encourages free enterprise, enhances the quality of life in the greater Grand Rapids area, or otherwise serves a charitable, scientific, literary, or educational purpose.

  • Community Collaboration Initiative - This year, the program prepared for future years by doing some grant writing and other proposals

  • Diversity, equity, and inclusion - The Foundation received funding for GR Futures to further the work in inclusion and equity for minority businesses by creating minority business councils. The Foundation also coordinated an Opportunity For All campaign.

    Expenses $1,920,640

  • Other programs such as Housing Next and Community Leadership programs

    Expenses $146,415

As filed on the 2022 return.

Listed in Part VII

  • Jeff Connolly

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Crowley

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Jeff Lumpp

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Michael Davenport

    Director

    Total calculated
    $0
    Hours/week
    1

  • William Brennan

    Director

    Total calculated
    $0
    Hours/week
    1

  • Meredith Bronk

    Director

    Total calculated
    $0
    Hours/week
    1

  • Brad Thomas

    Director

    Total calculated
    $0
    Hours/week
    1

  • James Byl

    Director

    Total calculated
    $0
    Hours/week
    1

  • Rick Baker

    Director

    Total calculated
    $337,109
    From this org
    $0
    From related orgs
    $337,109
    Other
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $295,730 related
    Bonus
    $0 + $41,379 related
    Other
    $0
    Deferred
    $0 + $14,339 related
    Nontaxable benefits
    $0 + $11,889 related
    Filer's total
    $0 + $363,337 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

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

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
2022
Filed
1 June 2023
IRS schema version
2022v5.0
Source object
202321649349300607

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