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Nonprofiteer
← ANN ARBOR AREA COMMUNITY FOUNDATION

Form 990 for tax year 2023

Filed by ANN ARBOR AREA COMMUNITY FOUNDATION.

Totals

Total revenue
$10,246,540
Total expenses
$13,318,645
Contributions and grants received
$5,345,431
Grants paid
$8,521,643
Program service revenue
$71,845
Investment income
$4,829,264
Other revenue
$0
Total assets, end of year
$208,073,440
Total liabilities, end of year
$6,295,845
Net assets or fund balances, end of year
$201,777,595
Program services expenses (Part IX)
$11,344,217
Management and general expenses
$1,345,871
Fundraising expenses
$628,557
Program service expenses (Part III)
$11,344,217

Program services were 85.2% 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.

  • 1f · All other contributions, gifts and grants

    $5,345,431

  • 1g · Noncash contributions included above

    $1,335,190

  • 2a · Program service revenue: INTEREST INCOME - PRI

    total $71,845 · related or exempt $71,845

  • 3 · Investment income

    total $3,835,204 · unrelated business $695,220 · excluded $3,139,984

  • 7a · Gross sales of assets other than inventory

    securities $24,689,631

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

    securities $23,695,571

  • 7c · Gain or loss

    securities $994,060

  • 7d · Net gain or loss

    total $994,060 · excluded $994,060

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,343,240 · program services $8,343,240

  • 2 · Grants to domestic individuals

    total $178,403 · program services $178,403

  • 5 · Compensation of officers, directors and key employees

    total $387,742 · program services $76,978 · management and general $201,025 · fundraising $109,739

  • 7 · Other salaries and wages

    total $1,059,987 · program services $296,834 · management and general $571,604 · fundraising $191,549

  • 8 · Pension plan contributions

    total $45,547 · program services $11,797 · management and general $26,617 · fundraising $7,133

  • 9 · Other employee benefits

    total $108,571 · program services $28,764 · management and general $57,731 · fundraising $22,076

  • 10 · Payroll taxes

    total $99,537 · program services $25,748 · management and general $53,252 · fundraising $20,537

  • 11b · Fees: legal

    total $3,245 · management and general $3,245

  • 11c · Fees: accounting

    total $72,865 · management and general $72,865

  • 11f · Fees: investment management

    total $2,007,565 · program services $2,007,565

  • 11g · Fees: other

    total $263,757 · program services $173,007 · management and general $54,067 · fundraising $36,683

  • 12 · Advertising and promotion

    total $61,747 · program services $222 · management and general $1,500 · fundraising $60,025

  • 13 · Office expenses

    total $36,172 · program services $8,363 · management and general $20,278 · fundraising $7,531

  • 14 · Information technology

    total $254,345 · program services $58,633 · management and general $140,400 · fundraising $55,312

  • 16 · Occupancy

    total $35,730 · program services $8,660 · management and general $20,765 · fundraising $6,305

  • 17 · Travel

    total $2,062 · program services $739 · management and general $1,098 · fundraising $225

  • 19 · Conferences, conventions and meetings

    total $169,001 · program services $31,007 · management and general $50,429 · fundraising $87,565

  • 22 · Depreciation, depletion and amortization

    total $52,213 · program services $12,656 · management and general $30,345 · fundraising $9,212

  • 23 · Insurance

    total $15,808 · management and general $15,808

  • 24a · Other expenses: IMPACT INVESTING

    total $72,336 · program services $72,336

  • 24b · Other expenses: DUES & MEMBERSHIPS

    total $11,047 · program services $2,949 · management and general $3,136 · fundraising $4,962

  • 24c · Other expenses: CREDIT CARD FEES

    total $8,254 · management and general $42 · fundraising $8,212

  • 24e · All other expenses

    total $29,471 · program services $6,316 · management and general $21,664 · fundraising $1,491

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $2,408,443 · end of year $1,789,458

  • 3 · Pledges and grants receivable

    beginning of year $735,952 · end of year $481,152

  • 10a · Land, buildings and equipment: cost or other basis

    $1,635,282

  • 10b · Land, buildings and equipment: accumulated depreciation

    $669,565

  • 10c · Land, buildings and equipment, net

    beginning of year $977,900 · end of year $965,717

  • 11 · Investments: publicly traded securities

    beginning of year $103,500,835 · end of year $113,153,776

  • 12 · Investments: other securities

    beginning of year $75,969,385 · end of year $86,471,836

  • 13 · Investments: program-related

    beginning of year $1,441,000 · end of year $3,691,000

  • 15 · Other assets

    beginning of year $1,067,988 · end of year $1,520,501

  • 17 · Accounts payable and accrued expenses

    beginning of year $81,156 · end of year $102,418

  • 18 · Grants payable

    beginning of year $161,071 · end of year $403,109

  • 21 · Escrow or custodial account liability

    beginning of year $4,407,096 · end of year $5,180,702

  • 25 · Other liabilities

    beginning of year $585,644 · end of year $609,616

  • 27 · Net assets without donor restrictions

    beginning of year $179,534,594 · end of year $200,276,737

  • 28 · Net assets with donor restrictions

    beginning of year $1,331,942 · end of year $1,500,858

Mission and programs · 2023

Mission

THE ANN ARBOR AREA COMMUNITY FOUNDATION ENRICHES THE QUALITY OF LIFE IN OUR REGION THROUGH ITS KNOWLEDGEABLE LEADERSHIP, ENGAGED GRANTMAKING, AND CREATIVE PARTNERSHIPS WITH DONORS TO MAKE PHILANTHROPIC INVESTMENTS AND BUILD ENDOWMENT.

Activities or mission (Part I)

AAACF DISTRIBUTES PROCEEDS FROM ITS PERMANENT ENDOWED FUNDS TO WASHTENAW COUNTY CHARITABLE ORGS.

  • AAACF FULFILLS ITS EXEMPT PURPOSE BY GRANTING FUNDS TO A VARIETY OF TAX-EXEMPT ORGANIZATIONS, PRIMARILY IN THE WASHTENAW COUNTY AREA, THROUGH A COMPETITIVE PROCESS DETERMINED BY STAFF AND COMMUNITY LEADERS. SINCE ITS FOUNDING MORE THAN 60 YEARS AGO, OVER $99 MILLION HAS BEEN DISTRIBUTED THROUGH 18,500+ GRANTS AND SCHOLARSHIPS. SIGNATURE PROGRAMS INCLUDE A COMMUNITY SCHOLARSHIP PROGRAM TO INCENTIVIZE COLLEGE DEGREE ATTAINMENT BY LOCAL STUDENTS; THE EMPOWERMENT FUND, WHICH SUPPORTS YOUNG BLACK MEN IN ATTAINING EDUCATIONAL SUCCESS; ADVANCEMENT OF HEALTHY & FULFILLING AGING FOR ALL; A DEEP COMMITMENT TO HEALTH AND HUMAN SERVICES, FUNDING BOTH PROGRAMS AND SYSTEMS CHANGE; AND AN ALLOCATION OF 5% OF OUR ENDOWMENT TO LOCAL IMPACT INVESTMENTS.

    Expenses $11,344,217 · Grants $8,521,643 · Revenue $71,845

As filed on the 2023 return.

Listed in Part VII

  • Betsy Petoskey

    CHAIR THRU 4/2023

    Total calculated
    $0
    Hours/week
    4

  • Sean Duval

    VICE CHAIR THRU 4/2023 / CHAIR START 5/2023

    Total calculated
    $0
    Hours/week
    4

  • Karen Andrews

    SECR THRU 4/2023 / VICE CHAIR START 5/2023

    Total calculated
    $27,168
    From this org
    $27,168
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Laura Hayden

    TREASURER

    Total calculated
    $0
    Hours/week
    2.5

  • Karla Olson-Bellfi

    SECRETARY START 5/2023

    Total calculated
    $0
    Hours/week
    2.5

  • Kiana Barfield

    BOARD MEMBER THRU 4/2023

    Total calculated
    $0
    Hours/week
    1.5

  • Tabitha Bentley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • Chris Bergen

    BOARD MEMBER START 5/2023

    Total calculated
    $0
    Hours/week
    1.5

  • Bill Brinkerhoff

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • Tim Damschroder

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • Dilip Das

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • Cathi Duchon

    BOARD MEMBER START 5/2023

    Total calculated
    $0
    Hours/week
    1.5

  • Aaron Dworkin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • Ken Fischer

    BOARD MEMBER START 11/2023

    Total calculated
    $0
    Hours/week
    1.5

  • Sonya Jacobs

    BOARD MEMBER START 10/2023

    Total calculated
    $0
    Hours/week
    1.5

  • Christina Kim

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • Sri Maddipati

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • Audrey Price Dimarzo

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • Ella Racette

    BOARD MEMBER THRU 4/2023

    Total calculated
    $0
    Hours/week
    1.5

  • Michael Staebler

    BOARD MEMBER THRU 4/2023

    Total calculated
    $0
    Hours/week
    1.5

  • Chuck Warpehoski

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • Shannon Polk

    PRESIDENT & CEO

    Total calculated
    $246,022
    From this org
    $218,632
    From related orgs
    $0
    Other
    $27,390
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $218,632
    Bonus
    $0
    Other
    $0
    Deferred
    $26,600
    Nontaxable benefits
    $790
    Filer's total
    $246,022

  • James Hunter

    CFO & VP FOR OPERATIONS

    Total calculated
    $141,720
    From this org
    $134,571
    From related orgs
    $0
    Other
    $7,149
    Hours/week
    50

  • Christopher Lemon

    VP FOR COMMUNITY INVESTMENTS

    Total calculated
    $120,023
    From this org
    $108,169
    From related orgs
    $0
    Other
    $11,854
    Hours/week
    50

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 · Compensation survey or study
  • 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

The 10 largest by cash amount. The API serves every itemized grant.

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.

  • CHARITABLE REMAINDER TRUST (1)

    TRUST · MI · controlled entity

    Directly controlled by AAACF

Provenance

Return type
form_990
Tax year
2023
Filed
11 November 2024
IRS schema version
2023v5.1
Source object
202413189349311836

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