Form 990 for tax year 2023
Filed by SOUTHWESTERN MICHIGAN COLLEGE FOUNDATION.
Totals
- Total revenue
- $926,549
- Total expenses
- $712,560
- Contributions and grants received
- $160,158
- Grants paid
- $665,218
- Program service revenue
- $0
- Investment income
- $673,213
- Other revenue
- $93,178
- Total assets, end of year
- $16,574,180
- Total liabilities, end of year
- $658,220
- Net assets or fund balances, end of year
- $15,915,960
- Program services expenses (Part IX)
- $665,218
- Management and general expenses
- $47,342
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $665,218
Program services were 93.4% 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
$160,158
-
3 · Investment income
total $293,892 · excluded $293,892
-
6a · Gross rents
real property $100,000
-
6b · Less rental expenses
real property $6,822
-
6c · Rental income or loss
real property $93,178
-
6d · Net rental income or loss
total $93,178 · excluded $93,178
-
7a · Gross sales of assets other than inventory
securities $4,603,139
-
7b · Less cost or other basis and sales expenses
securities $4,223,818
-
7c · Gain or loss
securities $379,321
-
7d · Net gain or loss
total $379,321 · excluded $379,321
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $665,218 · program services $665,218
-
11f · Fees: investment management
total $47,342 · management and general $47,342
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $476,859 · end of year $325,086
-
2 · Savings and temporary cash investments
beginning of year $557,580 · end of year $683,875
-
3 · Pledges and grants receivable
beginning of year $208,750 · end of year $119,000
-
11 · Investments: publicly traded securities
beginning of year $12,003,834 · end of year $13,078,219
-
15 · Other assets
beginning of year $2,368,000 · end of year $2,368,000
-
25 · Other liabilities
beginning of year $818,890 · end of year $658,220
-
27 · Net assets without donor restrictions
beginning of year $238,214 · end of year $290,751
-
28 · Net assets with donor restrictions
beginning of year $14,557,919 · end of year $15,625,209
Mission and programs · 2023
Mission
THE FOUNDATION OPERATES FOR CHARITABLE PURPOSES TO PROMOTE, ESTABLISH, CONDUCT, MAINTAIN, AND OPERATE EDUCATIONAL AND SCIENTIFIC ACTIVITIES IN CONJUNCTION WITH SOUTHWESTERN MICHIGAN COLLEGE.
Activities or mission (Part I)
OPERATED TO PROMOTE, ESTABLISH, CONDUCT, AND MAINTAIN EDUCATIONAL AND SCIENTIFIC ACTIVITIES.
-
TO PROVIDE SCHOLARSHIPS TO STUDENTS ATTENDING SOUTHWESTERN MICHIGAN COLLEGE AND TO MAINTAIN AND IMPROVE SOUTHWESTERN MICHIGAN COLLEGE'S FACILITIES AND CAMPUS TO SUPPORT STUDENT SUCCESS.
Expenses $665,218 · Grants $665,218
As filed on the 2023 return.
Listed in Part VII
-
Duke JonesDUKE JONES
DIRECTOR - PART YEAR
- Total calculated
- $0
- Hours/week
- 1
-
Dr Joseph OdenwaldDR JOSEPH ODENWALD
SECRETARY
- Total calculated
- $285,535
- From this org
- $0
- From related orgs
- $210,068
- Other
- $75,467
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $210,068 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $50,898 related
- Nontaxable benefits
- $0 + $24,569 related
- Filer's total
- $0 + $285,535 related
-
Mike O'BrienMIKE O'BRIEN
EXECUTIVE DIRECTOR
- Total calculated
- $128,936
- From this org
- $0
- From related orgs
- $112,448
- Other
- $16,488
- Hours/week
- 1 + 40 related
-
Susan B CoulstonSUSAN B COULSTON
TREASURER
- Total calculated
- $152,400
- From this org
- $0
- From related orgs
- $123,799
- Other
- $28,601
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $123,799 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $18,796 related
- Nontaxable benefits
- $0 + $9,805 related
- Filer's total
- $0 + $152,400 related
-
Michelle BoydMICHELLE BOYD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ronald GunnRONALD GUNN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Judge Susan DobrichJUDGE SUSAN DOBRICH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Thomas JerdonTHOMAS JERDON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Richard Judd JrRICHARD JUDD JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Patricia PatanoPATRICIA PATANO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Rebecca L MooreREBECCA L MOORE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
George WehrleGEORGE WEHRLE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Deborah HackworthDEBORAH HACKWORTH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Terry GrothTERRY GROTH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Krin JurgensenKRIN JURGENSEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Janet BarkellJANET BARKELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dr Carole SchmidtDR CAROLE SCHMIDT
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Julie DyeJULIE DYE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Thomas EllspermannTHOMAS ELLSPERMANN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ann McCuistionANN MCCUISTION
DIRECTOR - PART YEAR
- Total calculated
- $0
- Hours/week
- 1
-
Greg LozeauGREG LOZEAU
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
David TateDAVID TATE
DIRECTOR
- 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
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
-
SOUTHWESTERN MICHIGAN COLLEGE
$665,218
PROVIDING GRANTS TO COLLEGE FOR STUDENT SCHOLARSHIPS AND TO MAINTAIN AND IMPROVE SMC'S FACILITIES AND CAMPUS.
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.
-
SOUTHWESTERN MICHIGAN COLLEGE
GOVERNMENTAL · COLLEGE · MI
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 1 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202433109349301578
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