Civic Intelligence

Albion Community Foundation

990 • Fiscal year 2015 • EIN 23-7019029

Jan 01, 2015 to Dec 31, 2015 • Filed on May 02, 2016

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

47th percentile

0.09x

Higher debt load relative to assets than 47% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

84th percentile

0.96x

Higher debt load relative to revenue than 84% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

13th percentile

-22%

Higher net margin than 13% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

49th percentile

$62,208

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 14.6% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

18th percentile

-6.4%

Faster asset growth than 18% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

5th percentile

-52%

Faster revenue growth than 5% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets47th percentile

Assets

Down

$4,691,522

Down $320,906 (-6.4%) from 2014

Net Assets

Down

$4,282,614

Down $275,670 (-6.0%) from 2014

Liabilities

Down

$408,908

Down $45,236 (-10.0%) from 2014

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin13th percentile

Revenue

Down

$426,230

Down $459,997 (-52%) from 2014

Expenses

Down

$521,582

Down $955,172 (-65%) from 2014

Net Income

Up

-$95,352

Up $495,175 (+84%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth18th 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

2015

Assets$4,691,522
Liabilities$408,908
Net Assets$4,282,614
Open 2015 Filing

Operations Trend

Revenue Growth5th 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

2015

Revenue$426,230
Expenses$521,582
Net Income-$95,352
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 2, 2016
Return Version
2015v2.1
Gross Receipts
$1,820,227
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$4,685,763$4,462,808▼ $222,955
Savings and Temporary Cash Investments-$100,549-
Land, Buildings, and Equipment, Net$74,482$79,130▲ $4,648
Cash and Non-Interest-Bearing Accounts$227,183$41,613▼ $185,570
Pledges and Grants Receivable$25,000$7,422▼ $17,578
Total Assets$5,012,428$4,691,522▼ $320,906
Liabilities
Escrow Account Liability$428,094$395,485▼ $32,609
Grants Payable$20,000$6,000▼ $14,000
Accounts Payable and Accrued Expenses$2,832$4,403▲ $1,571
Other Liabilities$3,218$3,020▼ $198
Total Liabilities$454,144$408,908▼ $45,236
Net Assets / Fund Balance
Unrestricted Net Assets$4,278,284$4,002,614▼ $275,670
Temporarily Rstr Net Assets$280,000$280,000→ $0
Total Net Assets Fund Balance$4,558,284$4,282,614▼ $275,670
Total Liabilities and Net Assets / Fund Balance$5,012,428$4,691,522▼ $320,906

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$73,422$119,703$193,125
Other Land Buildings$708$19,112$19,820
Land$5,000-$5,000

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$4,397,229$113,716▼ $118,349-$4,085,999
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
Compensation and Service Providers
Top Officer Pay49th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Elizabeth SchultheissExecutive DiFT$62,208$62,208

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
$354,665
Program Service Revenue
$0
Investment Income
$69,301
Other Revenue
$2,264
All Other Contributions
$354,665
Change in Net Assets
$-95,352

Audited Revenue Reconciliation

Revenue per Audited Statements
$426,230
Revenue Not Reported on Form 990
$-180,318
Total Revenue per Audited Statements
$245,912
Total Revenue per Form 990
$426,230
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$217,727
Other Expenses$215,850
Salaries, Compensation, and Employee Benefits$88,005
Total Fundraising Expense$15,568
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$217,727--$217,727
Current Officers, Directors, Trustees, and Key Employees$9,541$39,500$13,167$62,208
Fees for Service Investment Mgmnt Fees-$27,012-$27,012
Other Salaries and Wages-$16,792-$16,792
Fees for Services Accounting-$12,436-$12,436
Depreciation Depletion-$8,315-$8,315
Office Expenses$1,624$5,657$812$8,093
Information Technology$1,887$5,660-$7,547
Payroll Taxes$1,007$3,241$1,007$5,255
Occupancy-$4,665-$4,665
Insurance-$4,585-$4,585
Pension Plan Contributions$938$2,812-$3,750
Other Expenses$136,525$1,835$582$1,835
Advertising$1,612--$1,612
Fees for Services Other-$710-$710
Conferences and Meetings$478--$478
Total Functional Expenses$371,339$134,675$15,568$521,582

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$521,582
Total Expenses per Audited Statements$521,582
Total Expenses per Form 990$521,582
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
City of AlbionAlbion, MIGovCommunity Developmen$65,650
Albion Public SchoolsAlbion, MIGovEducation$34,500
Friends of the Bohm TheatreAlbion, MI501c3Theatre Restoration$27,990
AvsoAlbion, MI501c3Substance Abuse Prog$16,000
KIDS 'N' STUFFAlbion, MI501c3Youth Programs$15,670
Albion InnovationAlbion, MI501c3Community Developmen$12,500
Albion CollegeAlbion, MI501c3Education$12,000
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$3,020
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
2016-05-02
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
3
Volunteers
30

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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IRS990/PrincipalOfficerNm0ELIZABETH SCHULTHEISS
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IRS990/PYContributionsGrantsAmt0640825
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IRS990/PYOtherExpensesAmt01167670
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IRS990/ReconcilationRevenueExpnssAmt0-95352
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
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IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt0100549
IRS990ScheduleA/CommunityTrustInd0X
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0698843
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0138812
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt02264
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IRS990ScheduleA/PublicSupportPY170Pct00.67500
IRS990ScheduleA/PublicSupportTotal170Amt01924716
IRS990ScheduleA/SubstantialContributorsTotAmt0292522
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0254665
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IRS990ScheduleA/TotalSupportAmt02873912
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/AgentTrusteeEtcInd0false
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.93460
IRS990ScheduleD/BuildingsGrp/BookValueAmt073422
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0119703
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0193125
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt030178
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt04397229
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0113716
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt04085999
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0276419
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-118349
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt026868
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt04208483
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0354704
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt04397229
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0321812
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0182722
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt014946
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IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0102716
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IRS990ScheduleD/DonorAdvisedFundsGrantsAmt017645
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IRS990ScheduleD/ExpensesSubtotalAmt0521582
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0true
IRS990ScheduleD/LandGrp/BookValueAmt05000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt05000
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0GIFT ANNUITY PAYABLE
IRS990ScheduleD/RevenueNotReportedAmt0-180318
IRS990ScheduleD/RevenueSubtotalAmt0426230
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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IRS990ScheduleD/TotalLiabilityAmt03020
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IRS990ScheduleI/GrantRecordsMaintainedInd0true

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,691,522
Liabilities
$408,908
Net assets
$4,282,614
Revenue
$426,230
Expenses
$521,582
Net income
-$95,352
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