M&m Area Community Foundation

Tax-deductible

Menominee, MI501(c)(3)Foundations & GrantmakersEIN 38-3264725Revenue $931K in FY2024

On file with the IRSmmcommunityfoundation.org833a 1st St, 49858-3231 · Menominee, MITax-exempt since Feb 1996Publicly supported charity — 170(b)(1)(A)(vi)

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To inspire to provide lasting legacies that enrich our communities. We are committed to helping donors achieve their charitable goals by making the process of giving easier and more efficient.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
Run by 89 volunteers and 4 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
2 of 5
filings with a surplus
Average surplus $310K a year · 19% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$45K
to officers and key staff · 3% of spending
Top officer’s pay lower than 58% of similar orgs
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $62K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$847K
6% of total assets
Looks good: liabilities are 6% 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
$931K
-13% vs prior year
Spent
$1.3M
To programs
88%
Net assets
$14.2M
By yearFY2020–FY2024
Revenue
$931K
FY2024▼ -13%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.2M
FY2021$3.2M
FY2022$1.9M
FY2023$1.1M
FY2024$931K
Expenses
$1.3M
FY2024▲ +19%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.3M
FY2021$1.2M
FY2022$914K
FY2023$1.1M
FY2024$1.3M
Net assets
$14.2M
FY2024▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2020$9.8M
FY2021$12.6M
FY2022$11.6M
FY2023$13.1M
FY2024$14.2M

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 Feb 1996.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $1.2M Management & general 12% · $153K Fundraising 1% · $11K

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

14 people listed on the 990; $45K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Di
$44,525Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Ashley Berken’s $45K as Executive Di is at the 42nd percentile of top reported officer pay among 1264 $100K–1M 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 · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Paula Gruszynski—$90,673$91,874$97,575$81,045
Ashley Berken$44,525————

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 M&m 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

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Provided by the organization

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1 program · $971K · in their own filed words · FY2024
01

Grants to charitable organizations to support arts and culture, education, health, environment and animals, human services, public benefit, religion, sports, science, research and technology, and scholarships to individuals, with a goal to actively partner with agencies and constituencies to serve our community and community members.

$971Kprogram 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 3 funders →
Grants paid · 90 grants · $2.4M · 2020–2024
City of MenomineeFY2024$306,566
Unitemized GrantFY2024$110,414
M&m Childrens Museum INCMI · FY2024$34,804
D A R Boys & Girls ClubMI · FY2024$28,504
Community Health Care FundFY2024$22,120
Marinette County Public Health DeptFY2024$10,000
Individual RecipientFY2024$10,000
St Thomas Aquinas AcademyFY2024$8,814
Middle Inlet Volunteer FireFY2024$8,000
Northern Michigan UniversityFY2024$7,500
Pincrest Medical Care FacilityFY2024$6,211
Beecher-Dunbar-Prembine SchoolFY2024$5,537
Unitemized GrantFY2023$99,320
See all 90 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$931K
Ln 12
Investment incomeLn 3$404K
Gifts and grantsLn 1h$324K
Fees for servicesLn 2g$202K
Money outPt IX
$1.3M
Ln 25
Programscol B$1.2M
Managementcol C$153K
Fundraisingcol D$11K
Owns and owesPt X
$14.2M
net assets · Ln 32
Cash and savingsLn 1–2$286K
Total assetsLn 16$15.0M
LiabilitiesLn 26$847K
PeoplePt VI, VII
14
listed · VII A
PaidVII A1
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$324K
Noncash giftsLn 1g$32K
Fees for servicesLn 2g$202K
Investment incomeLn 3$404K
Other incomeLn 4–11$803
Total revenueLn 12$931K
Assets in detailPt X, end of year
CashLn 1$90K
SavingsLn 2$196K
Cash and savings togetherLn 1–2$286K
InvestmentsLn 11–13$14.7M
Land, buildings, equipmentLn 10c$2K
Other assetsLn 15$27K
Total assetsLn 16$15.0M
LiabilitiesLn 26$847K
Net assetsLn 32$14.2M
OperationsPt I, VI
EmployeesI 54
VolunteersI 689
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$375K$286K
InvestmentsLn 11–13$13.5M$14.7M
Land, buildings, equipmentLn 10c$5K$2K
Total assetsLn 16$13.9M$15.0M
LiabilitiesLn 26$762K$847K
Net assetsLn 32$13.1M$14.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$700K$700K
Grants to domestic individualsLn 2$110K$110K
Pay of current officers, directors and key staffLn 5$45K$33K$9K$3K
Pay of disqualified personsLn 6$49K$37K$10K$3K
Other salaries and wagesLn 7$51K$37K$10K$3K
Pension plan contributionsLn 8$3K$2K$593$178
Other employee benefitsLn 9$685$507$137$41
Payroll taxesLn 10$11K$8K$2K$667
Accounting feesLn 11c$41K$5K$36K
Investment management feesLn 11f$74K$74K
Office expensesLn 13$4K$3K$877$263
Information technologyLn 14$4K$3K$725$218
OccupancyLn 16$8K$6K$2K$464
TravelLn 17$3K$2K$668$200
Conferences, conventions and meetingsLn 19$10K$8K$2K
Depreciation, depletion and amortizationLn 22$3K$3K
InsuranceLn 23$2K$2K$452$136
Other expenses (24a–d)Ln 24$201K$199K$2K$534
Total functional expensesLn 25$1.3M$1.2M$153K$11K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $931K$1.3M−$389K$14.2M 990 PDF
FY2023 $1.1M$1.1M−$48K$13.1M 990 PDF
FY2022 $1.9M$914K$1.0M$11.6M 990 PDF
FY2021 $3.2M$1.2M$2.0M$12.6M 990 PDF
FY2020 $1.2M$2.3M−$1.0M$9.8M 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 $931,207 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $620,369$324,169
I-9 Program service revenuePrior year $175,545$201,823
I-10 Investment incomePrior year $269,839$404,412
I-11 Other revenuePrior year $27$803
I-12 Total revenuePrior year $1,065,780$931,207
I-13 Grants and similar amounts paidPrior year $498,660$810,783
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $162,367$159,436
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $452,363$350,267
I-18 Total expensesPrior year $1,113,390$1,320,486
I-19 Revenue less expensesPrior year −$47,610−$389,279
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 $931,207 across 7 lines filed
VIII-1f All other contributions, gifts and grants$324,169
VIII-1g Noncash contributions (included above)$31,895
VIII-1h Total contributions, gifts and grants$324,169
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $201,823$201,823
VIII-3 Investment incomeExcluded from tax $404,412$404,412
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $803$803
VIII-12 Total revenueRelated to mission $202,626 · Excluded from tax $404,412$931,207
Part IX · Statement of functional expenses $1,320,486 across 18 lines filed
IX-1 Grants to domestic organizationsPrograms $700,369$700,369
IX-2 Grants to domestic individualsPrograms $110,414$110,414
IX-5 Pay of current officers, directors and key staffPrograms $32,948 · Management $8,905 · Fundraising $2,672$44,525
IX-6 Pay of disqualified personsPrograms $36,619 · Management $9,897 · Fundraising $2,969$49,485
IX-7 Other salaries and wagesPrograms $37,493 · Management $10,134 · Fundraising $3,040$50,667
IX-8 Pension plan contributionsPrograms $2,193 · Management $593 · Fundraising $178$2,964
IX-9 Other employee benefitsPrograms $507 · Management $137 · Fundraising $41$685
IX-10 Payroll taxesPrograms $8,221 · Management $2,222 · Fundraising $667$11,110
IX-11c Accounting feesPrograms $4,968 · Management $36,228$41,196
IX-11f Investment management feesManagement $74,330$74,330
IX-13 Office expensesPrograms $3,244 · Management $877 · Fundraising $263$4,384
IX-14 Information technologyPrograms $2,683 · Management $725 · Fundraising $218$3,626
IX-16 OccupancyPrograms $5,728 · Management $1,548 · Fundraising $464$7,740
IX-17 TravelPrograms $2,471 · Management $668 · Fundraising $200$3,339
IX-19 Conferences, conventions and meetingsPrograms $7,886 · Management $1,972$9,858
IX-22 Depreciation, depletion and amortizationManagement $2,567$2,567
IX-23 InsurancePrograms $1,675 · Management $452 · Fundraising $136$2,263
IX-24 Other expenses (24a–d)Programs $198,650 · Management $1,780 · Fundraising $534$200,964
IX-25 Total functional expensesPrograms $1,156,069 · Management $153,035 · Fundraising $11,382$1,320,486
Part X · Balance sheet $15,036,360 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $218,616$90,067
X-2 Savings and temporary cash investmentsStart of year $156,718$196,389
X-9 Prepaid expenses and deferred chargesStart of year $16,234$20,116
X-10c Land, buildings and equipment, netStart of year $5,004$2,437
X-11 Publicly traded securitiesStart of year $13,488,560$14,699,978
X-15 Other assetsStart of year $24,580$27,373
X-16 Total assetsStart of year $13,909,712$15,036,360
X-17 Accounts payable and accrued expensesStart of year $15,164$32,781
X-25 Other liabilitiesStart of year $747,147$814,182
X-26 Total liabilitiesStart of year $762,311$846,963
X-27 Net assets without donor restrictionsStart of year $13,122,821$14,162,024
X-28 Net assets with donor restrictionsStart of year $24,580$27,373
X-32 Total net assets or fund balancesStart of year $13,147,401$14,189,397
X-33 Total liabilities and net assetsStart of year $13,909,712$15,036,360
Part XI · Reconciliation of net assets $14,189,397 net assets at year end
XI-1 Total revenue$931,207
XI-2 Total expenses$1,320,486
XI-3 Revenue less expenses−$389,279
XI-4 Net assets at start of year$13,147,401
XI-5 Net unrealized gains (losses) on investments$1,431,275
XI-10 Net assets at end of year$14,189,397

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

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