2022-11-04T14:37:48-05:00 2022-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2021-07-01 386100380 GRAND RAPIDS COMMUNITY COLLEGE FOUNDATION GRAN 6162343932 143 BOSTWICK NE GRAND RAPIDS MI 49503 LISA A FREIBURGER ASSISTANT TREASURER 6162343932 2022-11-01 1 LISA FREIBURGER 999009999 DORI J EGGETT P00645252 3032244621 2022-11-01 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z KATHRYN K MULLINS EDD 143 BOSTWICK NE GRAND RAPIDS MI 49503 17734680 0 X WWW.GRCC.EDU X 1964 MI IT IS THE MISSION OF THE GRCC FOUNDATION TO SECURE AND MANAGE FINANCIAL GIFTS TO SUPPORT AND PROMOTE STUDENT, EMPLOYEE, AND COMMUNITY LEARNING, ENABLING THE COLLEGE TO FULFILL ITS MISSION AND VISION. THERE WAS ONE SIGNIFICANT ACTIVITY FROM THE PAST YEAR, AWARDING SCHOLARSHIPS TO GRCC STUDENTS 23 20 0 31 0 0 6260469 8139218 0 0 1214405 1690760 -4204 0 7470670 9829978 15818708 9322462 0 0 5450 6500 0 0 424851 634411 713661 16458569 10042623 -8987899 -212645 46620565 37079013 4611371 2915800 42009194 34163213 IT IS THE MISSION OF THE GRCC FOUNDATION TO SECURE AND MANAGE FINANCIAL GIFTS TO SUPPORT AND PROMOTE STUDENT, EMPLOYEE AND COMMUNITY LEARNING, ENABLING THE COLLEGE TO FULFILL ITS MISSION AND VISION. 0 0 7013421 7013421 0 TRANSFERS TO GRAND RAPIDS COMMUNITY COLLEGE FOR SUPPORT OF OTHER PROGRAMS SUCH AS CHILD CARE PROGRAMS, CAPITAL IMPROVEMENTS AT THE COLLEGE, AND VARIOUS OTHER PROGRAMS DETERMINED BY THE FOUNDATION. 2309041 2309041 0 THE FOUNDATION PROVIDED $2,309,041 IN SCHOLARSHIPS AND GRANTS TO STUDENTS AND FACULTY OF GRAND RAPIDS COMMUNITY COLLEGE. IN ADDITION, FACULTY GRANTS PROVIDED THE OPPORTUNITY FOR PROFESSIONAL DEVELOPMENT AND INSTRUCTIONAL IMPROVEMENT. 9322462 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 11 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 23 20 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 MI X X KATHRYN K MULLINS 6162343932 143 BOSTWICK NE GRAND RAPIDS MI 49503 VIKKI COOPER DIRECTOR/PROFESSOR 1.00 40.00 X 0 118095 56063 LISA FREIBURGER ASSISTANT TREASURER/VP FINANCE 1.00 40.00 X X 0 177308 69114 BILL PINK PHD DIRECTOR/COLLEGE PRESIDENT 1.00 40.00 X 0 296919 31146 JAMES BUZZITTA MD CHAIRPERSON 1.00 0.00 X X 0 0 0 KRISTINE BABCOCK VICE-CHAIRPERSON 1.00 0.00 X X 0 0 0 DOUGLAS KLEIN TREASURER 1.00 0.00 X X 0 0 0 NANCY AYRES SECRETARY 1.00 0.00 X X 0 0 0 STEVEN ABID DIRECTOR 1.00 0.00 X 0 0 0 BETH BANTA DIRECTOR 1.00 0.00 X 0 0 0 DAVID BOTTRALL DIRECTOR 1.00 0.00 X 0 0 0 KENYATTA BRAME DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL DESPRES DIRECTOR 1.00 0.00 X 0 0 0 BEVERLY DRAKE DIRECTOR - PART YEAR 1.00 0.00 X 0 0 0 MARCUS JACKSON DIRECTOR 1.00 0.00 X 0 0 0 ELLEN JAMES DIRECTOR 1.00 0.00 X 0 0 0 JENNIFER JOSEPH DIRECTOR 1.00 0.00 X 0 0 0 DAVID KOETJE DIRECTOR 1.00 0.00 X 0 0 0 JENN MARTIN DIRECTOR 1.00 0.00 X 0 0 0 ARIAN NELSON DIRECTOR 1.00 0.00 X 0 0 0 SAMUEL OJO DIRECTOR 1.00 0.00 X 0 0 0 EDDIE RUCKER DIRECTOR 1.00 0.00 X 0 0 0 SHERYL SIEGEL DIRECTOR 1.00 0.00 X 0 0 0 AARON TURNER DIRECTOR 1.00 0.00 X 0 0 0 MARK WALTERS DIRECTOR 1.00 0.00 X 0 0 0 KATHRYN MULLINS EDD EXECUTIVE DIRECTOR 32.00 8.00 X 0 152707 55385 0 745029 211708 0 0 1 0 FIFTH THIRD BANK 38 FOUNTAIN SQUARE PLAZA CINCINNATI OH 45263 INVESTMENT MANAGEMENT 262781 1 95394 8043824 47000 8139218 947284 947284 8648178 7904702 743476 743476 743476 9829978 0 0 1690760 9282514 9282514 39948 39948 6500 6500 247187 247187 439782 28331 411451 19792 19792 6900 6900 10042623 9322462 295310 424851 2427270 640215 2150772 2569901 3760693 2155537 38205264 31633275 76566 80085 46620565 37079013 900369 291561 795975 1012088 2915027 1612151 4611371 2915800 X 8242127 8494809 33767067 25668404 42009194 34163213 46620565 37079013 X -212645 -7255981 -377355 X X 0 1 X 1 0 X 4907830 10008972 11612491 6121584 8139218 40790095 140325 168934 156596 297230 309276 1072361 5048155 10177906 11769087 6418814 8448494 41862456 22343715 19518741 496651 573008 639193 199931 981760 2890543 15854 134681 150535 44903534 0.43470 0.43620 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING INCOME - 2017 AMOUNT: $ 15,854. 2020 AMOUNT: $ 134,681. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19018170 246713 -3677598 939044 -290510 14938751 15409425 1034547 3588283 1021805 -7720 19018170 15534806 308094 336532 842434 -72427 15409425 13652841 1180030 995253 789476 -496158 15534806 13207257 279792 966245 619694 180759 13652841 0.00000 0.73400 0.26600 0 0 0 FUNDS HELD ON BEHALF OF OTHERS 1612151 1612151 2258731 -7255981 309276 -377355 -7324060 9582791 247187 247187 9829978 10104712 309276 309276 9795436 247187 247187 10042623 PART V, LINE 4: ENDOWMENT FUNDS ARE USED FOR PURPOSES CONSISTENT WITH PROVIDING SCHOLARSHIPS, GRANTS FOR PROFESSIONAL DEVELOPMENT, AND TO ADDRESS OTHER COLLEGE NEEDS. PART XI, LINE 2D - OTHER ADJUSTMENTS: PROMISE ZONE FLOWTHROUGH -377,355. 1 GRAND RAPIDS COMMUNITY COLLEGE 143 BOSTWICK AVE NE GRAND RAPIDS MI 49503 382980195 115 9226506 56008 FAIR MARKET VALUE EQUIPMENT AND LAB SUPPLIES PROGRAM SUPPORT 1 0 EMERGENCY GRANTS TO STUDENTS 178 38548 GRANTS TO FACULTY FOR EDUCATIONAL TRAVEL 8 1400 PART I, LINE 2: FOR SCHOLARSHIPS AND/OR STUDENT ASSITANCE, THE AMOUNTS ARE MANAGED THROUGH THE FINANCIAL AID PROCESS AND DOCUMENTED WITH RECORDS IN THE FINANCIAL AND/OR FOUNDATION OFFICERS. GRANTS TO GRCC EMPLOYEES FOR PROFESSIONAL DEVELOPMENT AND OTHER PROGRAMS ARE MANAGED AND DOCUMENTED BY THE FOUNDATION USING COLLEGE/FOUNDATION PROCEDURES. X 1 1 0 0 0 0 0 0 0 0 0 BILL PINK PHD DIRECTOR/COLLEGE PRESIDENT 0 221021 0 0 0 75898 0 31146 0 0 0 328065 0 0 LISA FREIBURGER ASSISTANT TREASURER/VP FINANCE 0 165667 0 0 0 11641 0 49903 0 19211 0 246422 0 0 KATHRYN MULLINS EDD EXECUTIVE DIRECTOR 0 132664 0 0 0 20043 0 40654 0 14731 0 208092 0 0 VIKKI COOPER DIRECTOR/PROFESSOR 0 116290 0 0 0 1805 0 36852 0 19211 0 174158 0 0 PART I, LINE 1A PAYMENT OF COUNTRY CLUB DUES FOR BILL PINK (GRCC PRESIDENT). THE AMOUNT PAID WAS NOT INCLUDED IN TAXABLE COMPENSATION. PART I, LINE 3 THE COMPENSATION FOR THE EXECUTIVE DIRECTOR IS ESTABLISHED BY GRAND RAPIDS COMMUNITY COLLEGE POLICY AND PROCEDURES, APPROVED BY THE COLLEGE PRESIDENT, THE COLLEGE BOARD OF TRUSTEES, AND THE GRCC FOUNDATION BOARD OF DIRECTORS. COMPENSATION FOR COMPARABLE POSITIONS AT OTHER SIMILAR EDUCATIONAL INSTITUTIONS IS CONSIDERED IN SETTING COMPENSATION LEVELS. X 1 7000 DONOR VALUATION X EQUIPMENT & LAB SUPPLIES 1 40000 DONOR VALUATION 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE GRCC FOUNDATION HAS SEVEN MEMBERS (FOUNDATION BOARD CHAIRPERSON, FOUNDATION BOARD VICE CHAIRPERSON, FOUNDATION BOARD TREASURER, FOUNDATION BOARD SECRETARY, GRCC BOARD OF TRUSTEES CHAIRPERSON, GRCC BOARD OF TRUSTEES TREASURER, GRCC PRESIDENT) THE MEMBERS APPROVE/ELECT THE BOARD OF DIRECTORS OF THE GRCC FOUNDATION. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF GRCC FOUNDATION HAVE THE POWER TO APPOINT MEMBERS TO THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B THE GRCC FOUNDATION BOARD OF DIRECTORS PROPOSES CANDIDATES TO SERVE ON THE BOARD. THESE NOMINATIONS MUST BE APPROVED BY THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED INDIVIDUALLY BY THE DIRECTORS PRIOR TO FILING. ANY ISSUES OR CONCERNS WOULD BE ADDRESSED AT A SUBSEQUENT MEETING OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO ALL DIRECTORS AND KEY EMPLOYEES. EACH PERSON REVIEWS AND SIGNS THE POLICY STATEMENT ANNUALLY BEFORE ANY FORMAL ACTIONS WITH POTENTIAL CONFLICTS ARE CONSIDERED BY THE BOARD, THE CHAIRPERSON WOULD INQUIRE AS TO THE EXISTENCE OR POSSIBLE EXISTENCE OF ANY CONFLICTS. ANY ACTUAL CONFLICTS THAT ARISE WOULD BE ADDRESSED BY THE BOARD PRIOR TO A DECISION/VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE PERFORMANCE OF THE EXECUTIVE DIRECTOR IS REVIEWED BY THE COLLEGE PRESIDENT. THE LAST REVIEW WAS COMPLETED IN JUNE 2022 IN COMPLIANCE WITH COLLEGE POLICIES. THE COMPENSATION FOR THE EXECUTIVE DIRECTOR IS ESTABLISHED BY COLLEGE POLICY AND PROCEDURES, APPROVED BY THE COLLEGE PRESIDENT, THE COLLEGE BOARD OF TRUSTEES, AND THE GRCC FOUNDATION BOARD OF DIRECTORS. COMPENSATION FOR COMPARABLE POSITIONS AT OTHER SIMILAR EDUCATIONAL INSTITUTIONS IS CONSIDERED IN SETTING COMPENSATION LEVELS. FORM 990, PART VI, SECTION C, LINE 19 GRCC FOUNDATION BOARD OF DIRECTORS MEETING MINUTES, FOUNDATION POLICIES, GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: PROMISE ZONE ADJUSTMENT -377,355. PART XII, LINE 2C THE ORGANIZATION HAS NOT CHANGED THEIR OVERSIGHT PROCESS WITHIN THE PAST YEAR. GRAND RAPIDS COMMUNITY COLLEGE 143 BOSTWICK AVE NE GRAND RAPIDS MI 49503 382980195 HIGHER EDUCATION MI 115 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0