Civic Intelligence

Albion Community Foundation

990 • Fiscal year 2014 • EIN 23-7019029

Jan 01, 2014 to Dec 31, 2014 • Filed on May 08, 2015

Organization ProfileWWW.ALBIONFOUNDATION.ORG
203 S SuperiorAlbion, MI 49224

(517) 629-3349

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

37th percentile

0.09x

Higher debt load relative to assets than 37% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

71st percentile

0.51x

Higher debt load relative to revenue than 71% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Net Margin

4th percentile

-67%

Higher net margin than 4% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

25th percentile

$61,768

Higher top officer pay than 25% of similar nonprofits.

Top officer pay equals 7.0% of source-year revenue.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Asset Growth

8th percentile

-11%

Faster asset growth than 8% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

2nd percentile

-65%

Faster revenue growth than 2% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets37th percentile

Assets

Down

$5,012,428

Down $649,077 (-11%) from 2013

Net Assets

Down

$4,558,284

Down $660,960 (-13%) from 2013

Liabilities

Up

$454,144

Up $11,883 (+2.7%) from 2013

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin4th percentile

Revenue

Down

$886,227

Down $1,663,099 (-65%) from 2013

Expenses

Down

$1,476,754

Down $96,065 (-6.1%) from 2013

Net Income

Down

-$590,527

Down $1,567,034 (-160%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth8th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0Assets 2010: $4,578,287Liabilities 2010: $399,307Net Assets 2010: $4,178,9802010Assets 2011: $4,359,839Liabilities 2011: $385,305Net Assets 2011: $3,974,5342011Assets 2012: $4,966,659Liabilities 2012: $416,854Net Assets 2012: $4,549,8052012Assets 2013: $5,661,505Liabilities 2013: $442,261Net Assets 2013: $5,219,2442013Assets 2014: $5,012,428Liabilities 2014: $454,144Net Assets 2014: $4,558,2842014Assets 2015: $4,691,522Liabilities 2015: $408,908Net Assets 2015: $4,282,6142015Assets 2016: $4,812,070Liabilities 2016: $422,327Net Assets 2016: $4,389,7432016Assets 2017: $5,462,005Liabilities 2017: $477,761Net Assets 2017: $4,984,2442017Assets 2018: $4,969,379Liabilities 2018: $653,640Net Assets 2018: $4,315,7392018Assets 2019: $5,675,021Liabilities 2019: $740,796Net Assets 2019: $4,934,2252019Assets 2020: $6,015,398Liabilities 2020: $812,566Net Assets 2020: $5,202,8322020Assets 2021: $7,773,653Liabilities 2021: $882,463Net Assets 2021: $6,891,1902021Assets 2022: $6,024,694Liabilities 2022: $710,741Net Assets 2022: $5,313,9532022Assets 2023: $7,113,756Liabilities 2023: $793,466Net Assets 2023: $6,320,2902023Assets 2024: $8,326,158Liabilities 2024: $990,156Net Assets 2024: $7,336,0022024

Highlighted filing

2014

Assets$5,012,428
Liabilities$454,144
Net Assets$4,558,284
Open 2014 Filing

Operations Trend

Revenue Growth2nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $341,5422010Expenses 2011: $501,6392011Expenses 2012: $495,1092012Revenue 2013: $2,549,326Expenses 2013: $1,572,819Net Income 2013: $976,5072013Revenue 2014: $886,227Expenses 2014: $1,476,754Net Income 2014: -$590,5272014Revenue 2015: $426,230Expenses 2015: $521,582Net Income 2015: -$95,3522015Revenue 2016: $257,830Expenses 2016: $429,580Net Income 2016: -$171,7502016Revenue 2017: $471,850Expenses 2017: $306,387Net Income 2017: $165,4632017Revenue 2018: $576,324Expenses 2018: $389,373Net Income 2018: $186,9512018Revenue 2019: $422,766Expenses 2019: $411,271Net Income 2019: $11,4952019Revenue 2020: $462,580Expenses 2020: $394,221Net Income 2020: $68,3592020Revenue 2021: $2,455,766Expenses 2021: $943,686Net Income 2021: $1,512,0802021Revenue 2022: $1,377,787Expenses 2022: $1,984,380Net Income 2022: -$606,5932022Revenue 2023: $1,345,607Expenses 2023: $794,046Net Income 2023: $551,5612023Revenue 2024: $1,596,276Expenses 2024: $818,199Net Income 2024: $778,0772024

Highlighted filing

2014

Revenue$886,227
Expenses$1,476,754
Net Income-$590,527
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 8, 2015
Return Version
2014v5.0
Gross Receipts
$3,710,582
Mission and Program Overview

Mission

Strengthen the greater albion area by cultivating community assets to enhance the quality of life.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$4,607,594$4,685,763▲ $78,169
Savings and Temporary Cash Investments$407,187--
Cash and Non-Interest-Bearing Accounts$513,351$227,183▼ $286,168
Land, Buildings, and Equipment, Net$83,373$74,482▼ $8,891
Pledges and Grants Receivable$25,000$25,000→ $0
Total Assets$5,661,505$5,012,428▼ $649,077
Other Assets Total$25,000--
Liabilities
Escrow Account Liability$419,272$428,094▲ $8,822
Grants Payable-$20,000-
Other Liabilities$18,194$3,218▼ $14,976
Accounts Payable and Accrued Expenses$4,794$2,832▼ $1,962
Total Liabilities$442,260$454,144▲ $11,884
Net Assets / Fund Balance
Unrestricted Net Assets$4,939,245$4,278,284▼ $660,961
Temporarily Rstr Net Assets$280,000$280,000→ $0
Total Net Assets Fund Balance$5,219,245$4,558,284▼ $660,961
Total Liabilities and Net Assets / Fund Balance$5,661,505$5,012,428▼ $649,077

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$68,274$115,308$183,582
Equipment$1,208$18,612$19,820
Land$5,000-$5,000

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$4,208,483$354,704▲ $182,722-$4,397,229
2013$4,037,370$452,844▲ $151,711-$4,208,483
2012$3,865,710$102,716▲ $368,408-$4,037,370
2011$4,116,922$116,357▼ $132,572-$3,865,710
2010$3,799,922$112,876▲ $488,048-$4,116,922
Compensation and Service Providers
Top Officer Pay25th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Elizabeth SchultheissExecutive DiFT$56,954$4,814$61,768

Board Members and Trustees

NameTitle
Bernie Konkle JrPresident
Jeff BellTrustee
John C SheddTrustee
Joyce SpicerTrustee
Karen YankieTrustee
Marilyn HennonTrustee
Nancy RoushTrustee
Nidia WolfTrustee
Robert DunklinTrustee
Mandy DubielSecretary
Tom PittTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$640,825
Program Service Revenue
$0
Investment Income
$239,645
Other Revenue
$5,757
All Other Contributions
$640,825
Change in Net Assets
$-590,527

Audited Revenue Reconciliation

Revenue per Audited Statements
$886,227
Revenue Not Reported on Form 990
$-70,434
Total Revenue per Audited Statements
$815,793
Total Revenue per Form 990
$886,227
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,167,670
Grants and Similar Amounts Paid$230,949
Salaries, Compensation, and Employee Benefits$78,135
Total Fundraising Expense$25,326
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$230,949--$230,949
Current Officers, Directors, Trustees, and Key Employees-$38,986$22,782$61,768
Fees for Service Investment Mgmnt Fees-$26,868-$26,868
Other Salaries and Wages-$10,620-$10,620
Depreciation Depletion-$8,891-$8,891
Fees for Services Accounting-$8,777-$8,777
Office Expenses$53$8,101$563$8,717
Occupancy-$7,099-$7,099
Payroll Taxes-$4,004$1,743$5,747
Information Technology$122$4,724-$4,846
Insurance-$4,499-$4,499
Other Expenses$1,093,908$2,217$238$2,217
Fees for Services Other-$471-$471
Conferences and Meetings$32--$32
Total Functional Expenses$1,325,064$126,364$25,326$1,476,754

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,476,754
Total Expenses per Audited Statements$1,476,754
Total Expenses per Form 990$1,476,754
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
City of AlbionAlbion, MIGovCommunity Developmen$112,140
Albion Public SchoolsAlbion, MIGovEducation$16,320
KIDS 'N' STUFFAlbion, MI501c3Youth Programs$13,500
Albion CollegeAlbion, MI501c3Education$10,174
Albion InnovationAlbion, MI501c3Community Developmen$7,500
SapsAlbion, MI501c3Substance Abuse Prog$6,942
Forks Senior CenterAlbion, MI501c3Elderly Assistance$6,119
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Gift Annuity Payable$3,218
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The 990 tax return is reviewed by the full board of trustees.”

Form 990, Page 6, Part VI, Line 12C

“Board members complete a form each january to ensure that the conflict of interest policy is effective.”

Form 990, Page 6, Part VI, Line 15A

“The salary of the executive director (the only full time employee of the community foundation) is determined by the board using the council of michigan foundations annual survey salary as a guide.”

Form 990, Page 6, Part VI, Line 19

“Annual financial statements are available to the public on the community foundations's website and in its published audit report. Governing documents and policies are available upon request.”

Filing and Contact Details

Filer

Filer Name
Albion Community Foundation
EIN
23-7019029
Phone
5176293349
Address
203 S SUPERIOR, ALBION, MI 49224

Signing Officer

Name
Elizabeth Schultheiss
Title
Executive Director
Phone
5176293349
Signed
2015-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Elizabeth Schultheiss
Formed
1968
Legal Domicile
Mi
Voting Board Members
11
Independent Board Members
11
Employees
4
Volunteers
25

Preparer

Firm
Bond & Company Plc
Address
113 WEST MICHIGAN AVENUE SUITE 301, JACKSON, MI 49201
Preparer
Patrick T Walz
Phone
5177898900
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

“The foundation has entered into agreements with other organizations to receive, invest and manage certain of their funds. In accordance with statement of financial accounting standards no. 136, transfers of assets to a not-for-profit foundation or charitable trust that raises or holds contributions for others, the foundation reports a liability for these resources since the other organizations have either named themselves as beneficiaries or retained the unilateral rights to withdraw or otherwise redirect the use of those funds.”

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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0115308
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION HAS ENTERED INTO AGREEMENTS WITH OTHER ORGANIZATIONS TO RECEIVE, INVEST AND MANAGE CERTAIN OF THEIR FUNDS. IN ACCORDANCE WITH STATEMENT OF FINANCIAL ACCOUNTING STANDARDS NO. 136, TRANSFERS OF ASSETS TO A NOT-FOR-PROFIT FOUNDATION OR CHARITABLE TRUST THAT RAISES OR HOLDS CONTRIBUTIONS FOR OTHERS, THE FOUNDATION REPORTS A LIABILITY FOR THESE RESOURCES SINCE THE OTHER ORGANIZATIONS HAVE EITHER NAMED THEMSELVES AS BENEFICIARIES OR RETAINED THE UNILATERAL RIGHTS TO WITHDRAW OR OTHERWISE REDIRECT THE USE OF THOSE FUNDS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
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IRS990ScheduleI/RecipientTable/IRCSectionDesc6501C3

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,012,428
Liabilities
$454,144
Net assets
$4,558,284
Revenue
$886,227
Expenses
$1,476,754
Net income
-$590,527
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.33$0.99$7.34$1.60$0.82$0.78
2023Detailed filing. Detailed filing data is available for this year.$7.11$0.79$6.32$1.35$0.79$0.55
2022Detailed filing. Detailed filing data is available for this year.$6.02$0.71$5.31$1.38$1.98$0.61
2021Detailed filing. Detailed filing data is available for this year.$7.77$0.88$6.89$2.46$0.94$1.51
2020Detailed filing. Detailed filing data is available for this year.$6.02$0.81$5.20$0.46$0.39$0.07
2019Detailed filing. Detailed filing data is available for this year.$5.68$0.74$4.93$0.42$0.41$0.01
2018Detailed filing. Detailed filing data is available for this year.$4.97$0.65$4.32$0.58$0.39$0.19
2017Detailed filing. Detailed filing data is available for this year.$5.46$0.48$4.98$0.47$0.31$0.17
2016Detailed filing. Detailed filing data is available for this year.$4.81$0.42$4.39$0.26$0.43$0.17
2015Detailed filing. Detailed filing data is available for this year.$4.69$0.41$4.28$0.43$0.52$0.10
2014Detailed filing. Detailed filing data is available for this year.$5.01$0.45$4.56$0.89$1.48$0.59
2013Detailed filing. Detailed filing data is available for this year.$5.66$0.44$5.22$2.55$1.57$0.98
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.97$0.42$4.55$0.50
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.36$0.39$3.97$0.50
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.58$0.40$4.18$0.34