Civic Intelligence

Adrian Kiwanis Foundation Inc.

990 • Fiscal year 2023 • EIN 38-2563747

Jan 01, 2023 to Dec 31, 2023 • Filed on Apr 24, 2024

Organization ProfileADRIANKIWANIS.ORG
PO Box 179Adrian, MI 49221

(517) 439-9331

Siviq Scores

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

Liabilities / Assets

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

84th percentile

34%

Higher net margin than 84% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

68th percentile

13%

Faster asset growth than 68% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

24th percentile

-12%

Faster revenue growth than 24% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets17th percentile

Assets

Up

$4,162,259

Up $483,488 (+13%) from 2022

Net Assets

Up

$4,162,259

Up $520,988 (+14%) from 2022

Liabilities

Down

$0

Down $37,500 (-100%) from 2022

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin84th percentile

Revenue

Down

$147,668

Down $19,388 (-12%) from 2022

Expenses

Up

$96,880

Up $50,182 (+107%) from 2022

Net Income

Down

$50,788

Down $69,570 (-58%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth68th percentile

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

$6.0M$4.0M$2.0M$0Assets 2010: $3,360,590Liabilities 2010: $0Net Assets 2010: $3,360,5902010Assets 2011: $3,001,205Liabilities 2011: $0Net Assets 2011: $3,001,2052011Assets 2012: $3,098,916Liabilities 2012: $0Net Assets 2012: $3,098,9162012Assets 2013: $3,284,150Liabilities 2013: $0Net Assets 2013: $3,284,1502013Assets 2014: $3,114,123Liabilities 2014: $0Net Assets 2014: $3,114,1232014Assets 2015: $2,917,924Liabilities 2015: $0Net Assets 2015: $2,917,9242015Assets 2016: $3,069,372Liabilities 2016: $0Net Assets 2016: $3,069,3722016Assets 2017: $3,390,798Liabilities 2017: $0Net Assets 2017: $3,390,7982017Assets 2018: $3,130,926Liabilities 2018: $0Net Assets 2018: $3,130,9262018Assets 2019: $3,615,435Liabilities 2019: $65,000Net Assets 2019: $3,550,4352019Assets 2020: $3,848,796Liabilities 2020: $67,500Net Assets 2020: $3,781,2962020Assets 2021: $4,437,756Liabilities 2021: $100,350Net Assets 2021: $4,337,4062021Assets 2022: $3,678,771Liabilities 2022: $37,500Net Assets 2022: $3,641,2712022Assets 2023: $4,162,259Liabilities 2023: $0Net Assets 2023: $4,162,2592023Assets 2024: $4,702,722Liabilities 2024: $55,000Net Assets 2024: $4,647,7222024

Highlighted filing

2023

Assets$4,162,259
Liabilities$0
Net Assets$4,162,259
Open 2023 Filing

Operations Trend

Revenue Growth24th percentile

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

$800K$600K$400K$200K$0-$200KExpenses 2010: $193,6012010Expenses 2011: $205,2102011Expenses 2012: $206,4432012Revenue 2013: $155,700Expenses 2013: $193,855Net Income 2013: -$38,1552013Revenue 2014: $188,824Expenses 2014: $188,227Net Income 2014: $5972014Revenue 2015: $105,337Expenses 2015: $133,005Net Income 2015: -$27,6682015Revenue 2016: $54,624Expenses 2016: $72,078Net Income 2016: -$17,4542016Revenue 2017: $311,614Expenses 2017: $99,154Net Income 2017: $212,4602017Revenue 2018: $128,690Expenses 2018: $118,055Net Income 2018: $10,6352018Revenue 2019: $156,185Expenses 2019: $179,633Net Income 2019: -$23,4482019Revenue 2020: $133,718Expenses 2020: $150,405Net Income 2020: -$16,6872020Revenue 2021: $608,100Expenses 2021: $160,912Net Income 2021: $447,1882021Revenue 2022: $167,056Expenses 2022: $46,698Net Income 2022: $120,3582022Revenue 2023: $147,668Expenses 2023: $96,880Net Income 2023: $50,7882023Revenue 2024: $362,000Expenses 2024: $110,668Net Income 2024: $251,3322024

Highlighted filing

2023

Revenue$147,668
Expenses$96,880
Net Income$50,788
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Apr 24, 2024
Return Version
2023v5.0
Gross Receipts
$1,445,836
Mission and Program Overview

Mission

To receive and administer funds for educational, charitable or religious purposes.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$3,643,473$4,160,228▲ $516,755
Accounts Receivable$33,250--
Savings and Temporary Cash Investments$2,048$2,031▼ $17
Total Assets$3,678,771$4,162,259▲ $483,488
Liabilities
Other Liabilities$37,500--
Total Liabilities$37,500$0▼ $37,500
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,641,271$4,162,259▲ $520,988
Total Net Assets Fund Balance$3,641,271$4,162,259▲ $520,988
Total Liabilities and Net Assets / Fund Balance$3,678,771$4,162,259▲ $483,488

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$4,160,228--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$3,641,271$1,000▲ $616,868$42,156$4,162,259
2022$4,337,406$1,000▼ $650,437$36,698$3,641,271
2021$3,781,296-▲ $717,022$35,912$4,337,406
2020$3,550,435$7,000▲ $374,266$32,885$3,781,296
2019$3,130,926$1,500▲ $597,642$31,707$3,550,435
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Frank RhamesPresident
Cary CarricoTrustee
Garry CliftTrustee
Gordon GaussTrustee
Greg GothamTrustee
J Michael MaxwellTrustee
Joe WilliamsTrustee
Kurt KominekTrustee
Todd MorganTrustee
Jack LewisSecretary
Heather PearceTreasurer
Michael JacobitzVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,000
Program Service Revenue
$0
Investment Income
$146,668
Other Revenue
$0
All Other Contributions
$1,000
Change in Net Assets
$50,788
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$54,604
Other Expenses$42,276
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$54,604--$54,604
Fees for Service Investment Mgmnt Fees$39,106--$39,106
Fees for Services Accounting$3,050--$3,050
Fees for Services Other$120--$120
Total Functional Expenses$96,880$0$0$96,880
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Kiwanis Club of AdrianAdrian, MI501c4Grants to 501c3$54,604
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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
No
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 7A

“Article ii of the adrian kiwanis foundation inc's by-laws state: each member shall be entitled to one vote on each matter submitted to a vote of the members, and each director will be elected by the active members of the adrian kiwanis club.”

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

“A draft copy is electronically sent to each board member. At a scheduled board meeting, a quorum of voting members will go through the return, ask questions and approve the return.”

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

“Every year each board member is required to file a conflict of interest form that is reviewed by the executive board and reported in the minutes.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Adrian Kiwanis Foundation Inc
EIN
38-2563747
Phone
5174399331
Address
PO BOX 179, ADRIAN, MI 49221

Signing Officer

Name
Michael Jacobitz
Title
Vice President
Phone
5172656154
Signed
2024-04-24

Organization Details

Principal Officer
Michael Jacobitz
Formed
1984
Legal Domicile
Mi
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
12

Preparer

Firm
Condon Hecht Bisher Wade & Co Pc
Address
184 W CARLETON ROAD, HILLSDALE, MI 49242
Preparer
Stephen W Bisher CPA
Phone
5174399331
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“To provide funds, if available, for other not-for-profit 501c(3) organizations so that they may provide the needed services not covered by government or other private organizations. This function is completed through our supported organization a 501c(4)organization, kiwanis club of adrian.”

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0INTERNAL REVENUE SERVICE LETTER CONFIRMING THAT THE ADRIAN KIWANIS CLUB ACTIVITIES COMPLY WITH REQUIREMENTS OF SECTION 509(A)(3); SEE BELOW FOR FUTHER DETAIL OF ACTIVITIES.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1THE ADRIAN KIWANIS FOUNDATION REQUIRES THE CLUB TO PROVIDE (1) INFORMATION CONFIRMING COMMUNITY ORGANIZATION'S 501(C)(3) STATUS PRIOR TO AWARDING GRANTS FOR PAYMENT AND (2) CONFIRMATION THAT PAYMENTS WERE MADE DIRECTLY TO RECIPIENT ORANIZATIONS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2THE ADRIAN KIWANIS FOUNDATION, INC'S IS ORGANIZED AND OPERATED FOR THE BENEFIT AND SUPPORT OF THE ADRIAN KIWANIS CLUB, A 501(C)4. FINANCIAL SUPPORT PROVIDED TO THE ADRIAN KIWANIS CLUB HELPS THAT ORGANIZATION ACHIEVE ITS GOALS AND OBJECTIVES OF 1) ENCOURAGING ECONOMIC DEVELOPMENT IN THE ADRIAN COMMUNITY, 2) SUPPORTING EDUCATIONAL DEVELOPMENT FOR YOUNG CHILDREN AND 3) CREATING AND SUPPORTING RECREATION OPPORTUNITIES FOR THE ADRIAN COMMUNITY THROUGH GRANTS MADE TO VARIOUS ADRIAN 501(C)3 ORGANIZATIONS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION A, LINE 3B
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART IV, SECTION A, LINE 3C
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2PART IV, SECTION B, LINE 1
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt054604
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0KIWANIS CLUB OF ADRIAN
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt0KIWANIS CLUB OF ADRIAN
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IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt020
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt020
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt03130926
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0147906
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0597642
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt031707
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0true
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0true
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt04160228
IRS990ScheduleD/OtherSecuritiesGrp/Desc0MERRILL LYNCH
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/RelatedOrgListSchRInd0false
IRS990ScheduleD/TotalBookValueSecuritiesAmt04160228
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt054604
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501C4
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GRANTS TO 501C3
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0KIWANIS CLUB OF ADRIAN
IRS990ScheduleI/RecipientTable/RecipientEIN0386089299
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0PO BOX 179
IRS990ScheduleI/RecipientTable/USAddress/CityNm0ADRIAN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MI
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd049221
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0A COMMITTEE COMPRISED OF ADRIAN KIWANIS CLUB AND ADRIAN KIWANIS FOUNDATION MEMBERS MEET AND REVIEW REQUESTS FOR GRANTS. GRANT APPLICATIONS ARE REVIWED AGAINST ESTABLISHED CRITERIA TO ENSURE ELIGIBILITY TO APPLY. RECIPIENTS SELECTED BY THE COMMITTEE ARE SUBMITTED TO THE ADRIAN KIWANIS FOUNDATION BOARD FOR APPROVAL, AND IF APPROVED A CHECK IS DRAFTED TO THE ADRIAN KIWANIS CLUB FOR THE AWARDED AMOUNT, THEN DISTRIBUTED TO THE SELECTED RECIPIENTS BY THE ADRIAN KIWANIS CLUB.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO PROVIDE FUNDS, IF AVAILABLE, FOR OTHER NOT-FOR-PROFIT 501C(3) ORGANIZATIONS SO THAT THEY MAY PROVIDE THE NEEDED SERVICES NOT COVERED BY GOVERNMENT OR OTHER PRIVATE ORGANIZATIONS. THIS FUNCTION IS COMPLETED THROUGH OUR SUPPORTED ORGANIZATION A 501C(4)ORGANIZATION, KIWANIS CLUB OF ADRIAN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ARTICLE II OF THE ADRIAN KIWANIS FOUNDATION INC'S BY-LAWS STATE: EACH MEMBER SHALL BE ENTITLED TO ONE VOTE ON EACH MATTER SUBMITTED TO A VOTE OF THE MEMBERS, AND EACH DIRECTOR WILL BE ELECTED BY THE ACTIVE MEMBERS OF THE ADRIAN KIWANIS CLUB.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A DRAFT COPY IS ELECTRONICALLY SENT TO EACH BOARD MEMBER. AT A SCHEDULED BOARD MEETING, A QUORUM OF VOTING MEMBERS WILL GO THROUGH THE RETURN, ASK QUESTIONS AND APPROVE THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3EVERY YEAR EACH BOARD MEMBER IS REQUIRED TO FILE A CONFLICT OF INTEREST FORM THAT IS REVIEWED BY THE EXECUTIVE BOARD AND REPORTED IN THE MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt096880
IRS990/TotalFunctionalExpensesGrp/TotalAmt096880
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0147668
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IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0412 N BROAD ST
IRS990/USAddress/CityNm0ADRIAN
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IRS990/WebsiteAddressTxt0ADRIANKIWANIS.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL JACOBITZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VICE PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05172656154
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-04-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ADRIAN KIWANIS FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0ADRI
ReturnHeader/Filer/EIN0382563747

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,162,259
Liabilities
$0
Net assets
$4,162,259
Revenue
$147,668
Expenses
$96,880
Net income
$50,788
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.70$0.06$4.65$0.36$0.11$0.25
2023Detailed filing. Detailed filing data is available for this year.$4.16$0.00$4.16$0.15$0.10$0.05
2022Detailed filing. Detailed filing data is available for this year.$3.68$0.04$3.64$0.17$0.05$0.12
2021Detailed filing. Detailed filing data is available for this year.$4.44$0.10$4.34$0.61$0.16$0.45
2020Detailed filing. Detailed filing data is available for this year.$3.85$0.07$3.78$0.13$0.15$0.02
2019Detailed filing. Detailed filing data is available for this year.$3.62$0.07$3.55$0.16$0.18$0.02
2018Detailed filing. Detailed filing data is available for this year.$3.13$0.00$3.13$0.13$0.12$0.01
2017Detailed filing. Detailed filing data is available for this year.$3.39$0.00$3.39$0.31$0.10$0.21
2016Detailed filing. Detailed filing data is available for this year.$3.07$0.00$3.07$0.05$0.07$0.02
2015Detailed filing. Detailed filing data is available for this year.$2.92$0.00$2.92$0.11$0.13$0.03
2014Detailed filing. Detailed filing data is available for this year.$3.11$0.00$3.11$0.19$0.19$0.00
2013Detailed filing. Detailed filing data is available for this year.$3.28$0.00$3.28$0.16$0.19$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.10$0.00$3.10$0.21
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.00$0.00$3.00$0.21
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.36$0.00$3.36$0.19
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