Fremont Area Community Foundation

Tax-deductible

Fremont, MI501(c)(3)Since 1951Foundations & GrantmakersEIN 38-1443367Revenue $15.2M in FY2024

On file with the IRSfacommunityfoundation.org4424 W 48th St, 49412-8721 · Fremont, MITax-exempt since Jun 1957Publicly supported charity — 170(b)(1)(A)(vi)

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To promote philanthropy through grants to nonprofit organizations providing charitable services that benefit the people of newaygo county and the surrounding Area of western michigan.

501(c)(3) charity; gifts are tax-deductible.
78¢ of each $1 spent went to programs.
Run by 200 volunteers and 25 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $3.1M a year · 21% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$541K
to officers and key staff · 4% of spending
Top officer’s pay higher than 54% of similar orgs
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $274K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$5.2M
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$15.2M
+2% vs prior year
Spent
$12.9M
To programs
78%
Net assets
$301.5M
By yearFY2020–FY2024
Revenue
$15.2M
FY2024▲ +2%
Tap a bar for its year
Revenue by fiscal year
FY2020$7.4M
FY2021$22.1M
FY2022$14.5M
FY2023$14.9M
FY2024$15.2M
Expenses
$12.9M
FY2024▲ +20%
Tap a bar for its year
Expenses by fiscal year
FY2020$11.8M
FY2021$11.3M
FY2022$11.8M
FY2023$10.7M
FY2024$12.9M
Net assets
$301.5M
FY2024▲ +14%
Tap a bar for its year
Net assets by fiscal year
FY2020$254.0M
FY2021$285.4M
FY2022$235.6M
FY2023$264.0M
FY2024$301.5M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1957.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $10.0M Management & general 18% · $2.3M Fundraising 5% · $584K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

18 people listed on the 990; $541K paid to officers and key staff.

Part VII, Section A · reportable compensation
President and CEO
$247,848Pt VII · Sec A
Vice President and Chief Financial Officer
$158,290Pt VII · Sec A
Vice President and Chief Philanthropy Officer
$135,061Pt VII · Sec A
Secretary Starting 6/13/24
$0Pt VII · Sec A
Treasurer Through 6/13/24, Chair Starting 6/13/24
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A

Shelly Kasprzycki’s $248K as President and CEO is at the 54th percentile of top reported officer pay among 661 $10–100M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Shelly Kasprzycki$247,848$223,691$194,967$43,346—
Carla Roberts———$196,338$229,814
Kathyrn Pope$158,290$139,812$139,269$118,551$117,993
Lindsay Hager$135,061$122,243$113,961$110,946$109,773
Mark Petz——$86,801——
Renee Hanshue——$80,994——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Fremont Area Community Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Strengthens western Michigan communities by providing grants and scholarships to local nonprofits and students, with a focus on education and poverty reduction.

Questions for Fremont Area Community Foundation

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Provided by the organization

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3 programs · $9.4M · in their own filed words · FY2024
01

Community Development program works to decrease the Newaygo county unemployment rate by distributing grants to charitable organizations focused on providing education, certifications, training and employment of a skilled workforce, along with efforts to support development of small businesses and entrepreneurship development within the…

$3.5Mprogram expense
02

Poverty to prosperity works to reduce the impact of poverty on the community in newaygo county, michigan by providng grants to charitable organizations focused on the development of self-sufficiency, building social capital and the empowerment of individuals and families to thrive long-term.

$3.0Mprogram expense
03

The Education Program works to decrease the impact of poverty on the community in Newaygo County by increasing the education level of the community at large. Grants are provided to charitable organizations focused on funding Kindergarten readiness, STEAM, Literacy, and remediation assistance.

$2.9Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 4 funders →
Grants paid · 760 grants · $51.9M · 2020–2024
Truenorth Community ServicesMI · FY2024$1,458,846
Newaygo County Regional Educational Service AgencyFY2024$1,035,549
Unitemized GrantFY2024$682,680
Arts Center for Newaygo CountyMI · FY2024$458,710
Fremont Public SchoolsFY2024$326,137
Love in the Name of ChristMI · FY2024$293,100
County of NewaygoFY2024$247,600
City of FremontFY2024$227,250
Trout Unlimited INCVA · FY2024$190,141
Feeding America West MichiganMI · FY2024$179,450
Stone Hill EstatesFY2024$150,000
Frey Management LLCFY2024$150,000
Fremont Christian SchoolMI · FY2024$135,577
See all 760 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$15.2M
Ln 12
Investment incomeLn 3$12.3M
Gifts and grantsLn 1h$2.5M
Fees for servicesLn 2g$366K
Money outPt IX
$12.9M
Ln 25
Programscol B$10.0M
Managementcol C$2.3M
Fundraisingcol D$584K
Owns and owesPt X
$301.5M
net assets · Ln 32
Cash and savingsLn 1–2$4.5M
Total assetsLn 16$306.7M
LiabilitiesLn 26$5.2M
PeoplePt VI, VII
18
listed · VII A
PaidVII A3
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.5M
Noncash giftsLn 1g$138K
Fundraising eventsLn 1c$6K
Fees for servicesLn 2g$366K
Investment incomeLn 3$12.3M
Gains on assetsLn 7$3.6M
Total revenueLn 12$15.2M
Assets in detailPt X, end of year
CashLn 1$802K
SavingsLn 2$3.7M
Cash and savings togetherLn 1–2$4.5M
InvestmentsLn 11–13$295.0M
Land, buildings, equipmentLn 10c$934K
Other assetsLn 15$128K
Total assetsLn 16$306.7M
LiabilitiesLn 26$5.2M
Net assetsLn 32$301.5M
OperationsPt I, VI
EmployeesI 525
VolunteersI 6200
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$3.1M$4.5M
InvestmentsLn 11–13$256.9M$295.0M
Land, buildings, equipmentLn 10c$1.0M$934K
Total assetsLn 16$269.0M$306.7M
LiabilitiesLn 26$5.0M$5.2M
Net assetsLn 32$264.0M$301.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$7.9M$7.9M
Grants to domestic individualsLn 2$684K$684K
Pay of current officers, directors and key staffLn 5$553K$104K$356K$93K
Other salaries and wagesLn 7$1.3M$308K$729K$227K
Pension plan contributionsLn 8$205K$50K$118K$37K
Other employee benefitsLn 9$301K$73K$174K$54K
Payroll taxesLn 10$127K$31K$73K$23K
Legal feesLn 11b$34K$4K$30K$0
Accounting feesLn 11c$43K$43K
Investment management feesLn 11f$200K$200K
Other fees for servicesLn 11g$124K$30K$72K$22K
Advertising and promotionLn 12$15K$3K$11K$1K
Office expensesLn 13$214K$52K$124K$38K
Information technologyLn 14$125K$31K$72K$23K
OccupancyLn 16$116K$28K$67K$21K
TravelLn 17$25K$8K$16K$1K
Conferences, conventions and meetingsLn 19$76K$11K$59K$5K
Depreciation, depletion and amortizationLn 22$100K$100K
InsuranceLn 23$17K$4K$10K$3K
Other expenses (24a–d)Ln 24$752K$671K$44K$37K
All other expensesLn 24e$2K$2K$0$0
Total functional expensesLn 25$12.9M$10.0M$2.3M$584K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $15.2M$12.9M$2.3M$301.5M 990 PDF
FY2023 $14.9M$10.7M$4.2M$264.0M 990 PDF
FY2022 $14.5M$11.8M$2.8M$235.6M 990 PDF
FY2021 $22.1M$11.3M$10.9M$285.4M 990 PDF
FY2020 $7.4M$11.8M−$4.4M$254.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $15,175,959 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,716,083$2,521,451
I-9 Program service revenuePrior year $339,016$365,611
I-10 Investment incomePrior year $9,807,996$12,289,920
I-11 Other revenuePrior year $539−$1,023
I-12 Total revenuePrior year $14,863,634$15,175,959
I-13 Grants and similar amounts paidPrior year $7,329,890$8,564,044
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $2,182,778$2,449,193
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,162,618$1,845,445
I-18 Total expensesPrior year $10,675,286$12,858,682
I-19 Revenue less expensesPrior year $4,188,348$2,317,277
Part VI · Governance 13 of 13 board members independent, no flags
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $15,175,959 across 12 lines filed
VIII-1a Federated campaigns$329
VIII-1c Fundraising events$5,913
VIII-1d Related organizations$256,668
VIII-1f All other contributions, gifts and grants$2,258,541
VIII-1g Noncash contributions (included above)$137,905
VIII-1h Total contributions, gifts and grants$2,521,451
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $365,611$365,611
VIII-3 Investment incomeExcluded from tax $8,652,961$8,652,961
VIII-5 RoyaltiesRelated to mission $71$71
VIII-7 Net gain or loss on sales of assetsExcluded from tax $3,636,959$3,636,959
VIII-8 Net income from fundraising eventsExcluded from tax −$1,094−$1,094
VIII-12 Total revenueRelated to mission $365,682 · Unrelated business $0 · Excluded from tax $12,288,826$15,175,959
Part IX · Statement of functional expenses $12,858,682 across 21 lines filed
IX-1 Grants to domestic organizationsPrograms $7,880,364$7,880,364
IX-2 Grants to domestic individualsPrograms $683,680$683,680
IX-5 Pay of current officers, directors and key staffPrograms $103,997 · Management $356,411 · Fundraising $92,767$553,175
IX-7 Other salaries and wagesPrograms $307,588 · Management $728,991 · Fundraising $226,618$1,263,197
IX-8 Pension plan contributionsPrograms $49,903 · Management $118,271 · Fundraising $36,767$204,941
IX-9 Other employee benefitsPrograms $73,330 · Management $173,794 · Fundraising $54,027$301,151
IX-10 Payroll taxesPrograms $30,859 · Management $73,135 · Fundraising $22,735$126,729
IX-11b Legal feesPrograms $4,428 · Management $29,998 · Fundraising $0$34,426
IX-11c Accounting feesManagement $42,785$42,785
IX-11f Investment management feesManagement $200,482$200,482
IX-11g Other fees for servicesPrograms $30,270 · Management $71,740 · Fundraising $22,301$124,311
IX-12 Advertising and promotionPrograms $2,941 · Management $11,300 · Fundraising $1,238$15,479
IX-13 Office expensesPrograms $52,201 · Management $123,718 · Fundraising $38,459$214,378
IX-14 Information technologyPrograms $30,554 · Management $72,414 · Fundraising $22,511$125,479
IX-16 OccupancyPrograms $28,261 · Management $66,978 · Fundraising $20,821$116,060
IX-17 TravelPrograms $7,717 · Management $16,290 · Fundraising $1,063$25,070
IX-19 Conferences, conventions and meetingsPrograms $11,355 · Management $59,135 · Fundraising $5,143$75,633
IX-22 Depreciation, depletion and amortizationManagement $100,293$100,293
IX-23 InsurancePrograms $4,230 · Management $10,027 · Fundraising $3,117$17,374
IX-24 Other expenses (24a–d)Programs $670,980 · Management $43,826 · Fundraising $36,869$751,675
IX-24e All other expensesPrograms $2,000 · Management $0 · Fundraising $0$2,000
IX-25 Total functional expensesPrograms $9,974,658 · Management $2,299,588 · Fundraising $584,436$12,858,682
Part X · Balance sheet $306,738,307 assets, 17 lines filed
Asset lines not itemized here account for $3,437,649; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $784,047$801,706
X-2 Savings and temporary cash investmentsStart of year $2,358,043$3,715,910
X-3 Pledges and grants receivableStart of year $3,208,922$2,620,598
X-9 Prepaid expenses and deferred chargesStart of year $34,644$61,343
X-10c Land, buildings and equipment, netStart of year $1,008,967$933,896
X-12 Other securitiesStart of year $254,970,932$292,860,145
X-13 Program-related investmentsStart of year $1,901,955$2,178,775
X-15 Other assetsStart of year $116,169$128,285
X-16 Total assetsStart of year $268,983,898$306,738,307
X-17 Accounts payable and accrued expensesStart of year $590,933$422,434
X-18 Grants payableStart of year $4,245,787$4,702,058
X-25 Other liabilitiesStart of year $147,130$115,389
X-26 Total liabilitiesStart of year $4,983,850$5,239,881
X-27 Net assets without donor restrictionsStart of year $261,956,160$299,999,289
X-28 Net assets with donor restrictionsStart of year $2,043,888$1,499,137
X-32 Total net assets or fund balancesStart of year $264,000,048$301,498,426
X-33 Total liabilities and net assetsStart of year $268,983,898$306,738,307
Part XI · Reconciliation of net assets $301,498,426 net assets at year end
XI-1 Total revenue$15,175,959
XI-2 Total expenses$12,858,682
XI-3 Revenue less expenses$2,317,277
XI-4 Net assets at start of year$264,000,048
XI-5 Net unrealized gains (losses) on investments$16,926,514
XI-9 Other changes in net assets$18,254,587
XI-10 Net assets at end of year$301,498,426

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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