2011-03-23T09:24:52-05:00 2010-12-31 REHMANN ROBSON 675 ROBINSON RD PO BOX 449 JACKSON MI 492040449 990 2010-01-01 237019029 ALBION COMMUNITY FOUNDATION ALBI 5176293349 203 S SUPERIOR - PO BOX 156 ALBION MI 49224 ELIZABETH SCHULTHEISS 5176293349 2011-03-09 1 5177876503 2010 2016-02-24 21:20:13Z ELIZABETH SCHULTHEISS 203 S SUPERIOR - PO BOX 156 ALBION MI 49224 3495171 0 X WWW.ALBIONFOUNDATION.ORG X COMMUNITY FOUNDATION 1968 MI STRENGTHEN THE GREATER ALBION AREA BY CULTIVATING COMMUNITY ASSETS TO ENHANCE THE QUALITY OF LIFE. 10 10 1 50 0 0 125515 237316 0 0 146796 229755 -1464 3774 270847 470845 62747 115484 0 0 52229 64290 0 0 14186 102250 161768 217226 341542 53621 129303 4157262 4578287 366215 399307 3791047 4178980 THE MISSION OF THE ALBION COMMUNITY FOUNDATION IS TO STRENGTHEN THE GREATER ALBION AREA BY CULTIVATING COMMUNITY ASSETS TO ENHANCE OUR QUALITY OF LIFE. 0 0 243008 115484 MANY COMMUNITY PROJECTS AND CULTURAL EVENTS WERE PROMOTED AND FUNDED DURING THE YEAR THAT BENEFITED THE LOCAL COMMUNITY OF ALBION, MICHIGAN. THE COMMUNITY FOUNDATION AWARDED MORE THAN 50 GRANTS TOTALING MORE THAN $115,000. 243008 1 1 0 0 1 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 5 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MI X X ELIZABETH N SCHULTHEISS 5176293349 203 S SUPERIOR ALBION MI 49224 JOYCE SPICER 1.00 X X 0 0 0 MARILYN HENNON 1.00 X X 0 0 0 JEFF BELL 1.00 X X 0 0 0 BERNIE KONKLE JR 1.00 X X 0 0 0 TOM PITT 1.00 X 0 0 0 MARGARET SINDT 1.00 X 0 0 0 NIDIA WOLF 1.00 X 0 0 0 DAN OHMER 1.00 X 0 0 0 JOHN C SHEDD 1.00 X 0 0 0 NANCY ROUSH 1.00 X 0 0 0 ELIZABETH SCHULTHEISS 40.00 X 52365 0 6900 52365 0 6900 0 0 0 0 0 237316 237316 106617 106617 7973 8435 -462 -462 -462 3139029 3015891 123138 123138 123138 ADMINISTRATIVE FEES 561000 4236 4236 4236 470845 4236 0 229293 113484 113484 2000 2000 53766 32260 10753 10753 5795 5795 4729 4729 11808 11808 14212 14212 3433 3433 10213 10213 4249 4249 3121 3121 7065 7065 4621 4621 2299 2299 SPECIAL PROJECTS 95264 95264 MEMBERSHIPS 2869 2869 REPAIRS 2614 2614 341542 243008 84348 14186 26355 81191 168433 103408 67654 65025 3622720 3777266 398033 612305 42500 42500 4157262 4578287 1803 2103 5000 3000 336986 372029 22426 22175 366215 399307 X 3561047 3948980 230000 230000 3791047 4178980 4157262 4578287 X 129303 258630 X X 0 1 1 X 0 X 198523 202024 133165 125515 237316 896543 198523 202024 133165 125515 237316 896543 417393 479150 190341 220118 76747 118364 106617 712187 1608730 0.29780 0.55430 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9 51770 12505 377999 1 1 0 1 3799922 112876 488048 264886 19038 4116922 3250431 121640 579046 144674 6521 3799922 5003421 130263 -1528646 354607 3250431 0.92860 0.07140 0 0 5000 5000 143418 84609 58809 20015 18799 1216 65025 CASH & CASH EQUIVALENTS 612305 F 612305 GIFT ANNUITY PAYABLE 22175 22175 470845 341542 129303 258630 258630 387933 737910 258630 8435 267065 470845 0 470845 349977 8435 8435 341542 0 341542 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 RIGHT TO WITHDRAW OR OTHERWISE REDIRECT THE USE OF THOSE FUNDS. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ENDOWMENT FUNDS ARE TO BE USED TO SUPPORT CHARITABLE ACTIVITIES IN THE GREATER ALBION, MICHIGAN AREA. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE FOUNDATION HAS EVALUATED THE PROVISIONS OF ASC TOPIC 740; THE EVALUATION WAS PERFORMED FOR THE YEARS 2007 THROUGH 2010, THE YEARS WHICH REMAIN SUBJECT TO EXAMINATION AS OF DECEMBER 31, 2010. 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 (UTBS; 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 DECEMBER 31, 2010, AND IT IS NOT AWARE OF ANY CLAIMS FOR SUCH AMOUNTS BY FEDERAL OR STATE INCOME TAX AUTHORITIES. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 8,435. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 8,435. 1 CITY OF ALBION 112 W CASS STREET ALBION MI 49224 386004655 GOVERNMENT 19250 RIEGER PARK POND RENOVATIONS AND STOFFER PLAZA PARKING IMPROVEMENTS AND GRANT APPLICATION ASSISTANCE ALBION PUBLIC SCHOOLS 1418 COOPER STREET ALBION MI 49224 386000759 GOVERNMENT 18005 JESSIES GIFT MENTORING PROGRAM, DESTINATION IMAGINATION, PLAYGROUND UPGRADES, AFTERSCHOOL PROGRAMS KIDS 'N STUFF 301 S SUPERIOR STREET ALBION MI 49224 383580496 501(C)3 12520 MUSEUM OPERATIONS, YOUTH PROGRAMS CALHOUN COUNTY LAND BANK AUTHORITY 315 GREEN STREET MARSHALL MI 49068 300407720 GOVERNMENT 12061 TO SUPPORT THE ACQUISITION OF A TAX REVERTED HISTORIC PROPERTY. ALBION DOWNTOWN DEVELOPMENT AUTHORITY 309 N SUPERIOR STREET ALBION MI 49224 386004655 GOVERNMENT 8942 DOWNTOWN IMPROVEMENT PROJECTS - PORTER SQUARE ALBION VOLUNTEER SERVICE ORGANIZATION 131 E CASS STREET ALBION MI 49224 382970255 501(C)3 11500 VOLUNTEER SERVICES 6 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE COMMUNITY FOUNDATION USES A POST PROJECT EVALUATION FORM FOR EACH GRANT PROJECT TO COMPARE OBJECTIVES AND BUDGETS FROM THE APPLICATION TO THE ACTUAL OUTCOMES. FORM 990, PART VI, SECTION B, LINE 11 THE 990 TAX RETURN IS REVIEWED BY THE FINANCE COMMITTEE AND IS THEN REVIEWED BY THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS COMPLETE A FORM ON AN ANNUAL BASIS AT THE JANUARY MEETING TO ENSURE THAT THE CONFLICT OF INTEREST POLICY IS EFFECTIVE. FORM 990, PART VI, SECTION B, LINE 15A THE SALARY OF THE EXECUTIVE DIRECTOR (THE ONLY EMPLOYEE OF THE COMMUNITY FOUNDATION) IS DETERMINED BY THE BOARD USING THE COUNCIL OF MICHIGAN FOUNDATIONS ANNUAL SURVEY SALARY AS A GUIDE. FORM 990, PART VI, SECTION C, LINE 19 ANNUAL FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC ON THE COMMUNITY FOUNDATION'S WEBSITE AND IN ITS PUBLISHED ANNUAL REPORT. GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 258,630. FORM 990, PART XII, LINE 2C THE PROCESS FOR SELECTING AND OVERSEEING THE WORK OF THE INDEPENDENT AUDITOR HAS NOT CHANGED FROM THE PRIOR YEAR.