Civic Intelligence

The Gainey Foundation

990 • Fiscal year 2018 • EIN 91-2025454

Jan 01, 2018 to Dec 31, 2018 • Filed on Sep 18, 2019

1593 Galbraith Ave SEGrand Rapids, MI 49546

(616) 735-0942

Siviq Scores

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

Liabilities / Assets

30th percentile

0.04x

Higher debt load relative to assets than 30% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

83rd percentile

1.13x

Higher debt load relative to revenue than 83% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

9th percentile

-28%

Higher net margin than 9% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

20th percentile

$0

Higher top officer pay than 20% of similar nonprofits.

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

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

36th percentile

-1.4%

Faster asset growth than 36% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

32nd percentile

-2.0%

Faster revenue growth than 32% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Assets

Down

$9,875,627

Down $144,891 (-1.4%) from 2017

Net Assets

Down

$9,469,333

Down $100,785 (-1.1%) from 2017

Liabilities

Down

$406,294

Down $44,106 (-9.8%) from 2017

Revenue

Down

$360,709

Down $7,476 (-2.0%) from 2017

Expenses

Up

$461,494

Up $34,608 (+8.1%) from 2017

Net Income

Down

-$100,785

Down $42,084 (-72%) from 2017

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2010: $10,639,034Liabilities 2010: $2,636,843Net Assets 2010: $8,002,1912010Assets 2011: $10,744,636Liabilities 2011: $2,464,512Net Assets 2011: $8,280,1242011Assets 2012: $10,652,837Liabilities 2012: $1,668,881Net Assets 2012: $8,983,9562012Assets 2013: $11,858,916Liabilities 2013: $3,060,108Net Assets 2013: $8,798,8082013Assets 2014: $11,409,381Liabilities 2014: $2,876,168Net Assets 2014: $8,533,2132014Assets 2015: $10,697,808Liabilities 2015: $2,664,647Net Assets 2015: $8,033,1612015Assets 2016: $10,120,177Liabilities 2016: $491,358Net Assets 2016: $9,628,8192016Assets 2017: $10,020,518Liabilities 2017: $450,400Net Assets 2017: $9,570,1182017Assets 2018: $9,875,627Liabilities 2018: $406,294Net Assets 2018: $9,469,3332018Assets 2019: $9,734,029Liabilities 2019: $364,800Net Assets 2019: $9,369,2292019Assets 2020: $14,502,991Liabilities 2020: $482Net Assets 2020: $14,502,5092020Assets 2021: $14,428,350Liabilities 2021: $4,507Net Assets 2021: $14,423,8432021Assets 2022: $14,245,506Liabilities 2022: $0Net Assets 2022: $14,245,5062022Assets 2023: $14,027,053Liabilities 2023: $0Net Assets 2023: $14,027,0532023Assets 2024: $14,536,786Liabilities 2024: $0Net Assets 2024: $14,536,7862024

Highlighted filing

2018

Assets$9,875,627
Liabilities$406,294
Net Assets$9,469,333

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $508,8612010Expenses 2011: $541,8052011Expenses 2012: $757,0642012Revenue 2013: $310,092Expenses 2013: $495,240Net Income 2013: -$185,1482013Revenue 2014: $290,550Expenses 2014: $556,145Net Income 2014: -$265,5952014Revenue 2015: $46,898Expenses 2015: $546,950Net Income 2015: -$500,0522015Revenue 2016: $2,169,931Expenses 2016: $574,273Net Income 2016: $1,595,6582016Revenue 2017: $368,185Expenses 2017: $426,886Net Income 2017: -$58,7012017Revenue 2018: $360,709Expenses 2018: $461,494Net Income 2018: -$100,7852018Revenue 2019: $352,199Expenses 2019: $452,303Net Income 2019: -$100,1042019Revenue 2020: $5,585,232Expenses 2020: $451,952Net Income 2020: $5,133,2802020Revenue 2021: $316,866Expenses 2021: $395,532Net Income 2021: -$78,6662021Revenue 2022: $215,066Expenses 2022: $393,403Net Income 2022: -$178,3372022Revenue 2023: $113,685Expenses 2023: $382,997Net Income 2023: -$269,3122023Revenue 2024: $117,950Expenses 2024: $441,655Net Income 2024: -$323,7052024

Highlighted filing

2018

Revenue$360,709
Expenses$461,494
Net Income-$100,785
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Sep 18, 2019
Return Version
2018v3.1
Gross Receipts
$360,709
Mission and Program Overview

Mission

The purpose for which the corporation is organized are exclusively to receive and administer a fund or funds or real or personal property, or both, exclusively for charitable, religious, scientific, literary, or educational purposes. The primary tax exempt purpose is the support of christian athletes.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$9,570,118$9,469,333▼ $100,785
Land, Buildings, and Equipment, Net$9,150,807$8,961,163▼ $189,644
Receivable From Disqualified Prsn$500,000$500,000→ $0
Cash and Non-Interest-Bearing Accounts$332,628$377,380▲ $44,752
Total Assets$10,020,518$9,875,627▼ $144,891
Other Assets Total$37,083$37,084▲ $1
Liabilities
Mortgage Notes Payable Secured by Investment Property$450,128$406,083▼ $44,045
Other Liabilities$272$211▼ $61
Total Liabilities$450,400$406,294▼ $44,106
Net Assets / Fund Balance
Total Net Assets Fund Balance$9,570,118$9,469,333▼ $100,785
Total Liabilities and Net Assets / Fund Balance$10,020,518$9,875,627▼ $144,891

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,415,082$2,082,124$6,497,206
Land$4,454,777-$4,454,777
Other Land Buildings$90,760$490,403$581,163
Equipment$544$343,909$344,453
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$334,071
Program Service Revenue
$0
Investment Income
$983
Other Revenue
$25,655
All Other Contributions
$334,071
Change in Net Assets
$-100,785
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$429,826
Salaries, Compensation, and Employee Benefits$31,668
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$231,765--$231,765
Other Salaries and Wages$27,920--$27,920
Insurance$25,374--$25,374
Interest$19,923--$19,923
Other Expenses$19,516--$19,516
All Other Expenses$15,019--$15,019
Fees for Services Accounting-$5,424-$5,424
Payroll Taxes$3,748--$3,748
Fees for Services Other-$2,552-$2,552
Total Functional Expenses$453,518$7,976$0$461,494
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons$500,000$500,000→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Liabilities$211
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

Article 2.1 classification - the classification of memberships in the corporation shall include a) full members and b) associate members. Article 2.2 admission, powers, privileges - the board of directors shall designate the initial members of the corporation and their status as either full members or associate members. Thereafter, additional members may be admitted, and their status as full or associate members shall be determined, only by the unanimous vote of the then existing full members or by the express provisions of the bylaws.

Form 990, Page 6, Part VI, Line 7B

Article 2.4 resignation or termination - membership status may be revoked at any time, for any reason or for no reason, with or without cause, by majority vote of the then existing full members. Membership shall terminate upon the death, dissolution, or resignation of a member.

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

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
The Gainey Foundation
EIN
91-2025454
Phone
6167350942
Address
1593 GALBRAITH AVE SE, GRAND RAPIDS, MI 49546

Signing Officer

Name
Harvey N Gainey Sr
Title
Trustee
Phone
6164016648
Signed
2019-09-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Harvey N Gainey Sr
Formed
1999
Legal Domicile
Mi
Voting Board Members
4
Independent Board Members
1
Employees
2

Preparer

Firm
John S Huizinga CPA
Address
10924 8TH AVE NW, GRAND RAPIDS, MI 49534-6749
Preparer
John S Huizinga CPA
Phone
6167350942
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The purpose for which the corporation is organized are exclusively to receive and administer a fund or funds or real or personal property, or both, exclusively for charitable, religious, scientific, literary, or educational purposes. The primary tax exempt purpose is the support of christian athletes.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt2SPRING ARBOR UNIVERSITY
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt5RESLIFE CHURCH
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt6REDEEMER COMMUNITY CHURCH
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt7REFUGE FOR WOMEN
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt2SPRING ARBOR UNIVERSITY
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt3LIBERTY UNIVERSITY
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt4POTTERS HOUSE
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt5RESLIFE CHURCH
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt6REDEEMER COMMUNITY CHURCH
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt7REFUGE FOR WOMEN
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IRS990ScheduleA/SupportingOrgType2Ind0X
IRS990ScheduleA/SupportSumAmt0340138
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt02082124
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06497206
IRS990ScheduleD/EquipmentGrp/BookValueAmt0544
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0343909
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0344453
IRS990ScheduleD/LandGrp/BookValueAmt04454777
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt04454777
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt090760
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0490403
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0581163
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0211
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OTHER LIABILITIES
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0NOTE RECEIVABLE - GREH LLC
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IRS990ScheduleL/TotalBalanceDueAmt0500000
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PURPOSE FOR WHICH THE CORPORATION IS ORGANIZED ARE EXCLUSIVELY TO RECEIVE AND ADMINISTER A FUND OR FUNDS OR REAL OR PERSONAL PROPERTY, OR BOTH, EXCLUSIVELY FOR CHARITABLE, RELIGIOUS, SCIENTIFIC, LITERARY, OR EDUCATIONAL PURPOSES. THE PRIMARY TAX EXEMPT PURPOSE IS THE SUPPORT OF CHRISTIAN ATHLETES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ARTICLE 2.1 CLASSIFICATION - THE CLASSIFICATION OF MEMBERSHIPS IN THE CORPORATION SHALL INCLUDE A) FULL MEMBERS AND B) ASSOCIATE MEMBERS. ARTICLE 2.2 ADMISSION, POWERS, PRIVILEGES - THE BOARD OF DIRECTORS SHALL DESIGNATE THE INITIAL MEMBERS OF THE CORPORATION AND THEIR STATUS AS EITHER FULL MEMBERS OR ASSOCIATE MEMBERS. THEREAFTER, ADDITIONAL MEMBERS MAY BE ADMITTED, AND THEIR STATUS AS FULL OR ASSOCIATE MEMBERS SHALL BE DETERMINED, ONLY BY THE UNANIMOUS VOTE OF THE THEN EXISTING FULL MEMBERS OR BY THE EXPRESS PROVISIONS OF THE BYLAWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ARTICLE 2.4 RESIGNATION OR TERMINATION - MEMBERSHIP STATUS MAY BE REVOKED AT ANY TIME, FOR ANY REASON OR FOR NO REASON, WITH OR WITHOUT CAUSE, BY MAJORITY VOTE OF THE THEN EXISTING FULL MEMBERS. MEMBERSHIP SHALL TERMINATE UPON THE DEATH, DISSOLUTION, OR RESIGNATION OF A MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/BOYAmt010020518
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IRS990/TotalContributionsAmt0334071
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt07976
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0453518
IRS990/TotalFunctionalExpensesGrp/TotalAmt0461494
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0450400
IRS990/TotalLiabilitiesEOYAmt0406294
IRS990/TotalLiabilitiesGrp/BOYAmt0450400
IRS990/TotalLiabilitiesGrp/EOYAmt0406294
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt09570118
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt09469333
IRS990/TotalProgramServiceExpensesAmt0453518
IRS990/TotalRevenueGrp/ExclusionAmt025655
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0983
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0360709
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt010020518
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09875627
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0NONE
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0HARVEY N GAINEY SR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TRUSTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum06164016648
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-09-18
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE GAINEY FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0GAIN
ReturnHeader/Filer/EIN0912025454
ReturnHeader/Filer/PhoneNum06167350942
ReturnHeader/Filer/USAddress/AddressLine1Txt01593 GALBRAITH AVE SE
ReturnHeader/Filer/USAddress/CityNm0GRAND RAPIDS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd049546
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0CC70CB69349788BAE73736E6F3617F7207F5C4F9
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId045E859579D235099797C2829F05D4FE7DFFF4FF6
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.68.16.49
ReturnHeader/FilingSecurityInformation/IPDt02019-09-27
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm017:33:03
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0383571865
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JOHN S HUIZINGA CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010924 8TH AVE NW
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GRAND RAPIDS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0495346749
ReturnHeader/PreparerPersonGrp/PhoneNum06167350942
ReturnHeader/PreparerPersonGrp/PreparationDt02019-09-18
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN S HUIZINGA CPA
ReturnHeader/ReturnTs02019-09-27T17:33:03-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.5$0.00$14.5$0.12$0.44$0.32
2023Summary only. Only limited summary data is available for this year.$14.0$0.00$14.0$0.11$0.38$0.27
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.2$0.00$14.2$0.22$0.39$0.18
2021Summary only. Only limited summary data is available for this year.$14.4$0.00$14.4$0.32$0.40$0.08
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.5$0.00$14.5$5.59$0.45$5.13
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.73$0.36$9.37$0.35$0.45$0.10
2018Detailed filing. Detailed filing data is available for this year.$9.88$0.41$9.47$0.36$0.46$0.10
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.0$0.45$9.57$0.37$0.43$0.06
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.1$0.49$9.63$2.17$0.57$1.60
2015Detailed filing. Detailed filing data is available for this year.$10.7$2.66$8.03$0.05$0.55$0.50
2014Detailed filing. Detailed filing data is available for this year.$11.4$2.88$8.53$0.29$0.56$0.27
2013Summary only. Only limited summary data is available for this year.$11.9$3.06$8.80$0.31$0.50$0.19
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.7$1.67$8.98$0.76
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.7$2.46$8.28$0.54
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.6$2.64$8.00$0.51
Peer Organizations

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