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Nonprofiteer
← NORTH CENTRAL MICHIGAN COLLEGE FOUNDATION

Form 990 for tax year 2023

Filed by NORTH CENTRAL MICHIGAN COLLEGE FOUNDATION.

Totals

Total revenue
$1,899,398
Total expenses
$2,050,138
Contributions and grants received
$1,263,961
Grants paid
$1,450,827
Program service revenue
$0
Investment income
$635,437
Other revenue
$0
Total assets, end of year
$13,043,792
Total liabilities, end of year
$5,095
Net assets or fund balances, end of year
$13,038,697
Program services expenses (Part IX)
$1,450,827
Management and general expenses
$424,452
Fundraising expenses
$174,859
Program service expenses (Part III)
$1,450,827

Program services were 70.8% 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

    $219,862

  • 1f · All other contributions, gifts and grants

    $1,044,099

  • 1g · Noncash contributions included above

    $377,799

  • 3 · Investment income

    total $310,311 · excluded $310,311

  • 7a · Gross sales of assets other than inventory

    securities $4,144,036

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

    securities $3,818,910

  • 7c · Gain or loss

    securities $325,126

  • 7d · Net gain or loss

    total $325,126 · excluded $325,126

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,450,827 · program services $1,450,827

  • 11f · Fees: investment management

    total $55,648 · management and general $55,648

  • 11g · Fees: other

    total $453,166 · management and general $278,307 · fundraising $174,859

  • 17 · Travel

    total $41,631 · management and general $41,631

  • 24a · Other expenses: PRINTING AND PUBLICATIO

    total $28,083 · management and general $28,083

  • 24b · Other expenses: OFFICE SUPPLIES

    total $19,543 · management and general $19,543

  • 24c · Other expenses: CREDIT CARD FEES

    total $1,240 · management and general $1,240

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $218,606 · end of year $307,329

  • 2 · Savings and temporary cash investments

    beginning of year $94,669 · end of year $225,272

  • 3 · Pledges and grants receivable

    beginning of year $1,151,509 · end of year $792,624

  • 11 · Investments: publicly traded securities

    beginning of year $11,102,881 · end of year $11,718,567

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $5,095

  • 27 · Net assets without donor restrictions

    beginning of year $3,121,228 · end of year $3,389,531

  • 28 · Net assets with donor restrictions

    beginning of year $9,446,437 · end of year $9,649,166

Mission and programs · 2023

Mission

TO INITIATE PHILANTHROPY IN PARTNERSHIP WITH NORTH CENTRAL MICHIGAN COLLEGE AND THE COMMUNITY IN ORDER TO PROVIDE FINANCIAL SUPPORT FOR THE MISSION AND GOALS OF THE COLLEGE.

  • ALL GRANTS TO NORTH CENTRAL MICHIGAN COLLEGE ARE FOR EDUCATIONAL PURPOSES.

    Expenses $1,450,827 · Grants $1,450,827

As filed on the 2023 return.

Listed in Part VII

  • Jim Schroeder

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Chris Etienne

    PAST CHAIR, TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dan Casasanta

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Max Bunker

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • David Finley

    PRESIDENT

    Total calculated
    $231,123
    From this org
    $0
    From related orgs
    $184,791
    Other
    $46,332
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $184,791 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $21,383 related
    Nontaxable benefits
    $0 + $24,949 related
    Filer's total
    $0 + $231,123 related

  • Dawn Bodnar

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Boor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Walt Byers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ashley Decarteret

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Fought

    TRUSTEE, EX-OFFICIO

    Total calculated
    $0
    Hours/week
    1

  • Chris Morley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sharon Schappacher

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Stan Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James Votruba

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Chelsea Platte

    EXECUTIVE DIRECTOR

    Total calculated
    $128,126
    From this org
    $0
    From related orgs
    $94,873
    Other
    $33,253
    Hours/week
    40

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
THE ORGANIZATION DOES NOT EMPLOY ANY INDIVIDUALS DIRECTLY. ALL COMPENSATION IS PAID BY A RELATED ORGANIZATION, NORTH CENTRAL MICHIGAN COLLEGE. THE ORGANIZATION REIMBURSES THE COLLEGE FOR COMPENSATION RELATED EXPENSES AS SHOWN UNDER PART IX - STATEMENT OF FUNCTIONAL EXPENSES.

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

  • NORTH CENTRAL MICHIGAN COLLEGE

    $1,168,364

    SCHOLARSHIPS, EQUIPMENT, AND OTHER

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.

  • NORTH CENTRAL MICHIGAN COLLEGE

    115(1) · TO PROVIDE EDUCATIONAL SERVICES · MI

Provenance

Return type
form_990
Tax year
2023
Filed
7 April 2025
IRS schema version
2023v6.0
Source object
202510989349302006

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