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Nonprofiteer
← MACOMB COMMUNITY COLLEGE FOUNDATION

Form 990 for tax year 2022

Filed by MACOMB COMMUNITY COLLEGE FOUNDATION.

Totals

Total revenue
$7,148,915
Total expenses
$2,157,624
Contributions and grants received
$5,383,665
Grants paid
$2,077,933
Program service revenue
$0
Investment income
$1,390,675
Other revenue
$374,575
Total assets, end of year
$33,065,888
Total liabilities, end of year
$104,075
Net assets or fund balances, end of year
$32,961,813
Program services expenses (Part IX)
$2,077,933
Management and general expenses
$79,691
Fundraising expenses
$0
Program service expenses (Part III)
$2,077,933

Program services were 96.3% 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

    $20,039

  • 1d · Related organizations

    $501,709

  • 1f · All other contributions, gifts and grants

    $4,861,917

  • 3 · Investment income

    total $1,298,149 · excluded $1,298,149

  • 7a · Gross sales of assets other than inventory

    securities $6,117,825

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

    securities $6,025,299

  • 7c · Gain or loss

    securities $92,526

  • 7d · Net gain or loss

    total $92,526 · excluded $92,526

  • 8a · Fundraising events: gross income

    $176,570

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

    $20,039

  • 8b · Fundraising events: direct expenses

    $71,771

  • 8c · Net income from fundraising events

    total $104,799 · excluded $104,799

  • 9a · Gaming: gross income

    $8,604

  • 9b · Gaming: direct expenses

    $5,514

  • 9c · Net income from gaming

    total $3,090 · excluded $3,090

  • 11a · Other revenue: ADVANCEMENT FEE

    total $266,686 · excluded $266,686

  • 11e · Other revenue, total

    $266,686

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,077,933 · program services $2,077,933

  • 11f · Fees: investment management

    total $78,517 · management and general $78,517

  • 24a · Other expenses: BANK FEES

    total $1,174 · management and general $1,174

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $191,555 · end of year $427,480

  • 3 · Pledges and grants receivable

    beginning of year $5,196 · end of year $4,026

  • 11 · Investments: publicly traded securities

    beginning of year $26,465,181 · end of year $32,599,425

  • 15 · Other assets

    beginning of year $0 · end of year $34,957

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,005 · end of year $20,725

  • 19 · Deferred revenue

    beginning of year $47,850 · end of year $83,350

  • 25 · Other liabilities

    beginning of year $46,206 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $14,104,824 · end of year $15,236,915

  • 28 · Net assets with donor restrictions

    beginning of year $12,444,047 · end of year $17,724,898

Mission and programs · 2022

Mission

TO PROVIDE SUPPORT FOR THE MISSION AND EDUCATIONAL PURPOSES OF MACOMB COMMUNITY COLLEGE IN A CHARITABLE MANNER INCLUDING, BY WAY OF ILLUSTRATION BUT NOT LIMITATION, THE PROMOTION, SPONSORSHIP AND CARRYING OUT OF THE EDUCATIONAL AND CULTURAL MISSIONS OF THE COLLEGE.

Activities or mission (Part I)

TO SUPPORT AND PROMOTE THE EDUCATIONAL AND CULTURAL ACTIVITIES AT AND ON BEHALF OF MACOMB COMMUNITY COLLEGE.

  • AMOUNT DISTRIBUTED TO MACOMB COMMUNITY COLLEGE IN SUPPORT OF ITS EDUCATIONAL AND CULTURAL MISSION

    Expenses $2,077,933 · Grants $2,077,933

As filed on the 2022 return.

Listed in Part VII

  • James O Sawyer IV

    CHAIR

    Total calculated
    $444,366
    From this org
    $0
    From related orgs
    $347,180
    Other
    $97,186
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $347,180 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $80,469 related
    Nontaxable benefits
    $0 + $16,717 related
    Filer's total
    $0 + $444,366 related

  • Katherine Lorenzo

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.3 + 2 related

  • Elizabeth A Argiri

    TREASURER

    Total calculated
    $313,268
    From this org
    $0
    From related orgs
    $227,663
    Other
    $85,605
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $227,663 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $63,646 related
    Nontaxable benefits
    $0 + $21,959 related
    Filer's total
    $0 + $313,268 related

  • Kevin Chandler

    SECRETARY

    Total calculated
    $190,354
    From this org
    $0
    From related orgs
    $153,114
    Other
    $37,240
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $153,114 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $16,284 related
    Nontaxable benefits
    $0 + $20,956 related
    Filer's total
    $0 + $190,354 related

  • Christina Ayar

    FOUNDATION DIRECTOR THRU 2/2023

    Total calculated
    $156,310
    From this org
    $0
    From related orgs
    $109,440
    Other
    $46,870
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $109,440 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $26,477 related
    Nontaxable benefits
    $0 + $20,393 related
    Filer's total
    $0 + $156,310 related

  • Diane Banks

    FOUNDATION DIRECTOR AS OF 5/2023

    Total calculated
    $0
    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

  • 3 · Written employment contract
  • 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

The filer's explanations (Part III)

PART I, LINE 3
THE COMPENSATION OF THE PRESIDENT WHO IS PAID BY A RELATED ORGANIZATION IS DETERMINED BY WRITTEN EMPLOYMENT CONTRACT AND APPROVAL BY THE BOARD.

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

  • MACOMB COMMUNITY COLLEGE

    $2,077,933

    TO SUPPORT MACOMB COMMUNITY COLLEGE'S EDUCATION AND CULTURAL MISSION

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.

  • MACOMB COMMUNITY COLLEGE

    115 · COMMUNITY COLLEGE, HIGHER EDUCATION · MI

Provenance

Return type
form_990
Tax year
2022
Filed
20 February 2024
IRS schema version
2022v5.0
Source object
202420929349300537

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