NORTH CENTRAL MICHIGAN COLLEGE FOUNDATION: Form 990, tax year 2021
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- Organization
- NORTH CENTRAL MICHIGAN COLLEGE FOUNDATION (EIN 38-2910328)
- Tax period
- 2021-07-01 to 2022-06-30
- Filed
- 2023-05-10
- IRS object ID
- 202301309349305000
- Schema version
- 2021v4.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule G
- Schedule I
- Schedule J
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-05-10T15:36:33-05:00 | ReturnTs |
| Tax Period End | 2022-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 383567911 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | REHMANN ROBSON LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | MILLIKEN PLACE 107 S CASS STE A | AddressLine1Txt |
| City | TRAVERSE CITY | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49684 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2021-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 382910328 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NORTH CENTRAL MICHIGAN COLLEGE | BusinessNameLine1Txt |
| Business Name Line2 | FOUNDATION | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | NORT | BusinessNameControlTxt |
| Phone | 2313486621 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1515 HOWARD STREET | AddressLine1Txt |
| City | PETOSKEY | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49770 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CHELSEA PLATTE | PersonNm |
| Person Title | EXECUTIVE DIRECTOR | PersonTitleTxt |
| Phone | 2313486621 | PhoneNum |
| Signature | 2023-05-10 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | CHELSEA | PersonFirstNm |
| Person Last | PLATTE | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JEFFREY E HERT CPA | PreparerPersonNm |
| PTIN | P00066715 | PTIN |
| Phone | 2319463230 | PhoneNum |
| Preparation | 2023-05-10 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 0 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | CHELSEA PLATTE | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1515 HOWARD STREET | AddressLine1Txt |
| City | PETOSKEY | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49770 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $4,356,531 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | HTTPS://WWW.NCMICH.EDU | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1989 | FormationYr |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Activity Or Mission | TO INITIATE PHILANTHROPY IN PARTNERSHIP WITH NORTH CENTRAL MICHIGAN COLLEGE AND THE COMMUNITY IN ORDER TO PROVIDE FINANCIAL SUPPORT FOR THE MISSION AND GOALS OF THE COLLEGE. | ActivityOrMissionDesc |
| Voting Members Governing Body | 17 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 16 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 50 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $2,921,051 | PYContributionsGrantsAmt |
| CY Contributions Grants | $3,259,074 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $203,231 | PYInvestmentIncomeAmt |
| CY Investment Income | $374,837 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $3,124,282 | PYTotalRevenueAmt |
| CY Total Revenue | $3,633,911 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $3,074,552 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $1,784,970 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $55,895 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $27,553 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $129,290 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $461,664 | PYOtherExpensesAmt |
| CY Other Expenses | $514,217 | CYOtherExpensesAmt |
| PY Total Expenses | $3,592,111 | PYTotalExpensesAmt |
| CY Total Expenses | $2,326,740 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$467,829 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $1,307,171 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $11,840,851 | TotalAssetsBOYAmt |
| Total Assets EOY | $11,689,091 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $5,294,557 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $2,361 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $6,546,294 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $11,686,730 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO INITIATE PHILANTHROPY IN PARTNERSHIP WITH NORTH CENTRAL MICHIGAN COLLEGE AND THE COMMUNITY IN ORDER TO PROVIDE FINANCIAL SUPPORT FOR THE MISSION AND GOALS OF THE COLLEGE. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $1,784,970 | ExpenseAmt |
| Grant | $1,784,970 | GrantAmt |
| Revenue | $0 | RevenueAmt |
| Desc | ALL GRANTS TO NORTH CENTRAL MICHIGAN COLLEGE ARE FOR EDUCATIONAL PURPOSES. | Desc |
| Total Program Service Expenses | $1,784,970 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | Yes (1) | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | Yes (1) | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 17 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 16 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | 0 | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | 0 | RegularMonitoringEnfrcInd |
| Whistleblower Policy | 0 | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MI | StatesWhereCopyOfReturnIsFldCd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CHELSEA PLATTE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2313486621 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1515 HOWARD STREET | AddressLine1Txt |
| City | PETOSKEY | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49770 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (18 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| CHRIS ETIENNE | ||||||
| CHAIR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| JIM SCHROEDER | ||||||
| VICE CHAIR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| JOHN MARSHALL | ||||||
| SECRETARY | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| MAX BUNKER | ||||||
| TREASURER | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| DAVID FINLEY | ||||||
| PRESIDENT | 1.00 | Yes (X) | Yes (X) | $0 | $177,982 | $47,613 |
| RICHARD AMES | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DAWN BODNAR | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DAN CASASANTA | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| BILL KANINE | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MARION KUEBLER | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| CHRIS MORLEY | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| GAYLE MROCZKOWSKI | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DAN RASMUSSEN | ||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |
| STAN SMITH | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JOHN FOUGHT | ||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |
| ASHLEY WHITNEY | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JENNIFER SHORTER | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| CHELSEA PLATTE | ||||||
| EXECUTIVE DIRECTOR | 40.00 | Yes (X) | $0 | $82,294 | $31,563 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $260,276 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $79,176 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $3,259,074 | AllOtherContributionsAmt |
| Noncash Contributions | $71,230 | NoncashContributionsAmt |
| Total Contributions | $3,259,074 | TotalContributionsAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $288,790 | TotalRevenueColumnAmt |
| Exclusion | $288,790 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $808,667 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $722,620 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $86,047 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $86,047 | TotalRevenueColumnAmt |
| Exclusion | $86,047 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,633,911 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $374,837 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,784,970 | TotalAmt |
| Program Services | $1,784,970 | ProgramServicesAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $27,553 | TotalAmt |
| Fundraising | $27,553 | FundraisingAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $47,782 | TotalAmt |
| Management And General | $47,782 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $466,435 | TotalAmt |
| Management And General | $364,698 | ManagementAndGeneralAmt |
| Fundraising | $101,737 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,326,740 | TotalAmt |
| Program Services | $1,784,970 | ProgramServicesAmt |
| Management And General | $412,480 | ManagementAndGeneralAmt |
| Fundraising | $129,290 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $225,159 | BOYAmt |
| EOY | $38,700 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $196,560 | BOYAmt |
| EOY | $213,421 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,573,632 | BOYAmt |
| EOY | $1,334,157 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,845,500 | BOYAmt |
| EOY | $10,102,813 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,840,851 | BOYAmt |
| EOY | $11,689,091 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,523 | BOYAmt |
| EOY | $2,361 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,293,034 | BOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,294,557 | BOYAmt |
| EOY | $2,361 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,404,444 | BOYAmt |
| EOY | $2,922,497 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,141,850 | BOYAmt |
| EOY | $8,764,233 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,546,294 | BOYAmt |
| EOY | $11,686,730 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,840,851 | BOYAmt |
| EOY | $11,689,091 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $1,307,171 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$1,701,334 | NetUnrlzdGainsLossesInvstAmt |
| Donated Services And Use Fclts | $241,565 | DonatedServicesAndUseFcltsAmt |
| Other Changes In Net Assets | $5,293,034 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | Yes (X) | SupportingOrganization509a3Ind |
| Supporting Org Type1 | Yes (X) | SupportingOrgType1Ind |
| Supported Organizations | 1 | SupportedOrganizationsCnt |
Supported Org Information SupportedOrgInformationGrp
Supported Organization Name SupportedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NORTH CENTRAL MICHIGAN COLLEGE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 381586760 | EIN |
| Organization Type | 5 | OrganizationTypeCd |
| Governing Document Listed | Yes (1) | GoverningDocumentListedInd |
| Support | $1,784,970 | SupportAmt |
| Other Support | $0 | OtherSupportAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supported Organizations Total | 1 | SupportedOrganizationsTotalCnt |
| Support Sum | $1,784,970 | SupportSumAmt |
| Other Support Sum | $0 | OtherSupportSumAmt |
Form990 Sch A Supporting Org Form990SchASupportingOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Listed By Name Governing Doc | Yes (1) | ListedByNameGoverningDocInd |
| Suprt Org No IRS Determination | 0 | SuprtOrgNoIRSDeterminationInd |
| Supported Org Section C456 | 0 | SupportedOrgSectionC456Ind |
| Supported Org Not Organized US | 0 | SupportedOrgNotOrganizedUSInd |
| Organization Change Suprt Org | 0 | OrganizationChangeSuprtOrgInd |
| Support Non Supported Org | 0 | SupportNonSupportedOrgInd |
| Payment Substantial Contribtr | 0 | PaymentSubstantialContribtrInd |
| Loan Disqualified Person | 0 | LoanDisqualifiedPersonInd |
| Controlled Disqualified Prsn | 0 | ControlledDisqualifiedPrsnInd |
| Disqualified Prsn Controll Int | 0 | DisqualifiedPrsnControllIntInd |
| Disqualified Prsn Ownr Int | 0 | DisqualifiedPrsnOwnrIntInd |
| Excess Business Holdings Rules | 0 | ExcessBusinessHoldingsRulesInd |
| Contribution Controller | 0 | ContributionControllerInd |
| Contribution Family | 0 | ContributionFamilyInd |
| Contribution35 Controlled | 0 | Contribution35ControlledInd |
Form990 Sch A Type1 Suprt Org Form990SchAType1SuprtOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Power Appoint Majority Dir Trst | Yes (1) | PowerAppointMajorityDirTrstInd |
| Operate Benefit Non Suprt Org | 0 | OperateBenefitNonSuprtOrgInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Beginning Balance | $5,293,034 | BeginningBalanceAmt |
| Distributions During Year | $5,293,034 | DistributionsDuringYearAmt |
| Ending Balance | $0 | EndingBalanceAmt |
| Incl Escrow Custodial Acct Liab | 0 | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $2,185,203 | BeginningYearBalanceAmt |
| Contributions | $142,184 | ContributionsAmt |
| Investment Earnings Or Losses | -$249,882 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $20,363 | GrantsOrScholarshipsAmt |
| End Year Balance | $2,057,142 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $1,015,948 | BeginningYearBalanceAmt |
| Contributions | $532,589 | ContributionsAmt |
| Investment Earnings Or Losses | $167,671 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $31,004 | GrantsOrScholarshipsAmt |
| End Year Balance | $1,685,204 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $156,932 | BeginningYearBalanceAmt |
| Contributions | $840,803 | ContributionsAmt |
| Investment Earnings Or Losses | $18,213 | InvestmentEarningsOrLossesAmt |
| End Year Balance | $1,015,948 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $144,029 | BeginningYearBalanceAmt |
| Contributions | $10,000 | ContributionsAmt |
| Investment Earnings Or Losses | $5,769 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $2,866 | GrantsOrScholarshipsAmt |
| End Year Balance | $156,932 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $144,536 | BeginningYearBalanceAmt |
| Contributions | $5,000 | ContributionsAmt |
| Investment Earnings Or Losses | $7,149 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $12,656 | GrantsOrScholarshipsAmt |
| End Year Balance | $144,029 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.68000 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.32000 | PrmnntEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $2,126,360 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$1,701,334 | NetUnrealizedGainsInvstAmt |
| Donated Services And Use Fclts | $241,565 | DonatedServicesAndUseFcltsAmt |
| Revenue Not Reported | -$1,459,769 | RevenueNotReportedAmt |
| Revenue Subtotal | $3,586,129 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $47,782 | InvestmentExpensesNotIncldAmt |
| Revenue Not Reported Fincl Stmt | $47,782 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $3,633,911 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $2,278,958 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $2,278,958 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $47,782 | InvestmentExpensesNotIncld2Amt |
| Expenses Not Rpt Fincl Stmt | $47,782 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $2,326,740 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | DURING THE YEAR ENDED JUNE 30, 2022, IT WAS DETERMINED BY MANAGEMENT THAT THE AMOUNTS PREVIOUSLY REPORTED AS ENDOWED SCHOLARSHIPS PAYABLE SHOULD NOT HAVE BEEN INCLUDED AS LIABILITIES OF THE FOUNDATION BASED ON THE NATURE OF THE DONATIONS, BUT RATHER AS NET ASSETS WITH DONOR RESTRICTIONS. AS SUCH, THE FOUNDATION HAS RESTATED THE BEGINNING NET ASSETS AS OF JULY 1, 2021. THERE IS NO IMPACT FROM THE MISSTATEMENT ON THE JUNE 30, 2021 STATEMENT OF ACTIVITIES. |
| PART X, LINE 2: | THE INTERNAL REVENUE SERVICE RULED THAT THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE "CODE"). THE FOUNDATION IS REQUIRED TO OPERATE IN CONFORMITY WITH THE CODE AND RELATED REGULATIONS TO MAINTAIN ITS EXEMPTION. ONLY UNRELATED BUSINESS INCOME, IF ANY, AS DEFINED BY SECTION 512(A)(1) OF THE CODE, IS SUBJECT TO FEDERAL INCOME TAX. THE FOUNDATION CONSIDERS WHETHER IT HAS ENGAGED IN ACTIVITIES THAT JEOPARDIZE ITS CURRENT TAX EXEMPT STATUS WITH THE INTERNAL REVENUE SERVICE. FURTHERMORE, THE FOUNDATION DETERMINES WHETHER IT HAS ANY UNRELATED BUSINESS INCOME, WHICH MAY BE SUBJECT TO FEDERAL AND STATE INCOME TAXES. THE FOUNDATION TREATS INTEREST AND PENALTIES ATTRIBUTABLE TO INCOME TAXES, AND REFLECTS ANY CHARGES FOR SUCH, TO THE EXTENT THEY ARISE, AS A COMPONENT OF ITS OTHER MANAGEMENT AND GENERAL EXPENSES. THE FOUNDATION HAS EVALUATED TAX YEARS 2019 THROUGH 2022, THE YEARS WHICH REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS OF JUNE 30, 2022. THE FOUNDATION CONCLUDED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN THE FOUNDATION'S FINANCIAL STATEMENTS. THE FOUNDATION DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS ("UTB") (E.G. TAX DEDUCTIONS, EXCLUSIONS, OR CREDITS CLAIMED OR EXPECTED TO BE CLAIMED) TO SIGNIFICANTLY CHANGE IN THE NEXT TWELVE MONTHS. THE FOUNDATION DOES NOT HAVE ANY AMOUNTS ACCRUED FOR INTEREST AND PENALTIES RELATED TO UTBS AT JUNE 30, 2022 AND 2021, AND IT IS NOT AWARE OF ANY CLAIMS FOR SUCH AMOUNTS BY FEDERAL OR STATE INCOME TAX AUTHORITIES. |
| PART IV, LINE 2B | ENDOWED SCHOLARSHIP ACCOUNTS OF THE NORTH CENTRAL MICHIGAN COLLEGE ARE MAINTAINED BY THE FOUNDATION FOR INVESTMENT PURPOSES. |
Schedule G IRS990ScheduleG
| Field | Value | IRS element (for citing) |
|---|---|---|
| Mail Solicitations | Yes (X) | MailSolicitationsInd |
| Email Solicitations | Yes (X) | EmailSolicitationsInd |
| Phone Solicitations | Yes (X) | PhoneSolicitationsInd |
| In Person Solicitations | Yes (X) | InPersonSolicitationsInd |
| Solicitation Of Non Govt Grants | Yes (X) | SolicitationOfNonGovtGrantsInd |
| Special Fundraising Events | Yes (X) | SpecialFundraisingEventsInd |
| Agrmt Prof Fundraising Acty | Yes (1) | AgrmtProfFundraisingActyInd |
Fundraiser Activity Info FundraiserActivityInfoGrp
Organization Business Name OrganizationBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EATON CUMMINGS GROUP | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7894 PEACEFUL VALLEY RD | AddressLine1Txt |
| City | WILLIAMSBURG | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49690 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Activity | BLDG TOMORROW CAMPAIGN | ActivityTxt |
| Fundraiser Control Of Funds | 0 | FundraiserControlOfFundsInd |
| Gross Receipts | $990,699 | GrossReceiptsAmt |
| Retained By Contractor | $27,553 | RetainedByContractorAmt |
| Net To Organization | $963,146 | NetToOrganizationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Gross Receipts | $990,699 | TotalGrossReceiptsAmt |
| Total Retained By Contractors | $27,553 | TotalRetainedByContractorsAmt |
| Total Net To Organization | $963,146 | TotalNetToOrganizationAmt |
| Licensed States | MI | LicensedStatesCd |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NORTH CENTRAL MICHIGAN COLLEGE | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1515 HOWARD STREET | AddressLine1Txt |
| City | PETOSKEY | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49770 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 381586760 | RecipientEIN |
| IRC Section | GOVT | IRCSectionDesc |
| Cash Grant | $1,784,970 | CashGrantAmt |
| Non Cash Assistance | $0 | NonCashAssistanceAmt |
| Purpose Of Grant | SCHOLARSHIPS, EQUIPMENT, AND OTHER | PurposeOfGrantTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DAVID FINLEY | PersonNm |
| Title | PRESIDENT | TitleTxt |
| Base Compensation Filing Org | $0 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $162,847 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $0 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $0 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $15,135 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $0 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $19,944 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $0 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $27,669 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $0 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $225,595 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE J, PART I, LINE 3 | FormAndLineReferenceDesc |
| Explanation | THE ORGANIZATION DOES NOT EMPLOY ANY INDIVIDUALS DIRECTLY. ALL COMPENSATION IS PAID BY A RELATED ORGANIZATION, NORTH CENTRAL MICHIGAN COLLEGE. THE ORGANIZATION REIMBURSES THE COLLEGE FOR COMPENSATION RELATED EXPENSES AS SHOWN UNDER PART IX - STATEMENT OF FUNCTIONAL EXPENSES. | ExplanationTxt |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 1 | ContributionCnt |
| Noncash Contributions Rpt F990 | $71,230 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FAIR MARKET VALUE | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | Yes (1) | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | Yes (1) | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 32B: | FormAndLineReferenceDesc |
| Explanation | INVESTMENT BANK WHERE INVESTMENTS ARE HELD FACILITATES SALE OF STOCK DONATIONS IMMEDIATELY UPON RECEIPT. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | ORGANIZATION'S SOLE MEMBER IS NORTH CENTRAL MICHIGAN COLLEGE. |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS OF THE FOUNDATION BOARD OF DIRECTORS ARE ELECTED AT A MEETING OF THE NORTH CENTRAL MICHIGAN COLLEGE BOARD OF TRUSTEES. |
| FORM 990, PART VI, SECTION A, LINE 7B | MEMBERSHIP APPROVAL OF CORPORATE ACTIONS INCLUDE: 1. ELECTION OF MEMBERS OF THE BOARD OF DIRECTORS 2. AMENDING THE ARTICLES OF INCORPORATION AND BY-LAWS 3. APPROVAL OF EXPENDITURES IN EXCESS OF $100,000 FOR THE ACQUISITION OF CAPITAL ASSETS 4. APPROVAL OF BORROWINGS OR GUARANTEES HAVING A MATURITY OF MORE THAN ONE YEAR 5. ADOPTION OF ANY MATERIAL AMENDMENT TO THE ANNUAL OPERATING AND CAPITAL BUDGETS 6. APPROVAL OF LONG RANGE PLANS 7. SELECTION OF CHIEF EXECUTIVE OFFICER 8. OTHER AS REQUIRED BY LAW |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE PRIOR TO FILING. |
| FORM 990, PART VI, SECTION C, LINE 19 | FINANCIAL STATEMENTS ARE AVAILABLE ON THE COLLEGE'S WEBSITE. ARTICLES OF INCORPORATION ARE AVAILABLE ON MICHIGAN DEPARTMENT OF ENERGY, LABOR AND ECONOMIC GROWTH'S WEBSITE. |
| FORM 990, PART IX, LINE 11G | CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 364,698. FUNDRAISING EXPENSES 101,737. TOTAL EXPENSES 466,435. |
| FORM 990, PART XI, LINE 9: | RESTATEMENT OF NET ASSETS WITH DONOR RESTRICTIONS PER AUDIT 5,293,034. |
| FORM 990, PART XII, LINE 2C: | THE PROCESS FOR AUDIT OVERSIGHT HAS NOT CHANGED FROM THE PRIOR YEAR. |
| FORM 990, PART XI, LINE 9 | THE FOUNDATION HAS ADOPTED STATEMENT OF FINANCIAL ACCOUNTING STANDARD NO. 136, TRANSFERS OF ASSETS TO A NOT-FOR-PROFIT ORGANIZATION OR CHARITABLE TRUST THAT RAISES OR HOLDS CONTRIBUTIONS FOR OTHERS. THIS STANDARD REQUIRES THAT A LIABILITY BE ESTABLISHED TO A BENEFICIARY BY THE FOUNDATION WHEN A DONOR TRANSFERS ASSETS TO THE FOUNDATION THAT (A) USES THE ASSETS ON BEHALF OF OR (B) TRANSFERS THOSE ASSETS, THE RETURN ON INVESTMENT OF THOSE ASSETS, OR BOTH TO A BENEFICIARY NAMED BY THE DONOR. THE ENDOWED SCHOLARSHIP ACCOUNTS TRANSFERRED TO THE FOUNDATION BY THE COLLEGE WERE FOR INVESTMENT PURPOSES. THE FOUNDATION IS TO INVEST THESE MONEYS ON BEHALF OF THE COLLEGE AND TRANSFER AN AMOUNT NOT TO EXCEED 80% OF THE TOTAL RATE OF RETURN OF THE SCHOLARSHIP FUND EARNED DURING THE PRIOR FISCAL YEAR, OR A MINIMUM OF 5% OF THE FAIR MARKET VALUE OF THE SCHOLARSHIP FUND AT THE END OF ITS FISCAL YEAR. DURING THE YEARS ENDED JUNE 30, 2022 AND 2021, THE FOUNDATION REMITTED 5% OF THE FISCAL YEAR'S BEGINNING SCHOLARSHIP ACCOUNTS BALANCE. THE OVERALL INVESTMENT OBJECTIVE OF THE FUND WILL BE TO MAXIMIZE GROWTH WHILE GENERATING SUFFICIENT INCOME AND MAINTAINING ADEQUATE CASH RESERVES TO MEET STATED DISTRIBUTION REQUIREMENTS. RISK OF LOSS WILL BE MINIMIZED AND CONTROLLED BY CREATING A HIGH QUALITY, WE DIVERSIFIED PORTFOLIO AND BY UTILIZING A BALANCED ASSET MIX ALLOCATION. THE OBJECTIVE OF GROWTH WHEN BALANCED WITH INCOME REQUIREMENTS AND RISK PARAMETERS WILL CREATE A PORTFOLIO WHICH WILL EXPERIENCE MODERATE VOLATILITY. THE FINANCIAL EFFECTS OF TRANSACTIONS RELATED TO THESE ENDOWED SCHOLARSHIP FUNDS ARE RECORDED AS CHANGES IN THE ENDOWED SCHOLARSHIP PAYABLE ACCOUNT AND ARE NOT INCLUDED IN THE STATEMENTS OF ACTIVITIES. |
| SCHEDULE D, PART V, LINE 1A | THE BEGINNING BALANCE OF THE ENDOWMENT FUND AS OF JULY 1, 2021 WAS RESTATED TO INCLUDE THE RILEY HSTI ENDOWMENT WITH A BALANCE OF $500,000. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NORTH CENTRAL MICHIGAN COLLEGE | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1515 HOWARD STREET | AddressLine1Txt |
| City | PETOSKEY | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49770 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 381586760 | EIN |
| Primary Activities | TO PROVIDE EDUCATIONAL SERVICES | PrimaryActivitiesTxt |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Exempt Code Section | 115(1) | ExemptCodeSectionTxt |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | Yes (1) | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | Yes (1) | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (4 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| NORTH CENTRAL MICHIGAN COLLEGE | ||
| B | $1,514,028 | CASH |
| NORTH CENTRAL MICHIGAN COLLEGE | ||
| O | $326,840 | CASH AND INKIND |
| NORTH CENTRAL MICHIGAN COLLEGE | ||
| K | $3,600 | FAIR MARKET VALUE |
| NORTH CENTRAL MICHIGAN COLLEGE | ||
| C | $143,854 | INKIND |
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