Data and
Financials
Donor
Partnerships
All over Kent County, individuals, families, nonprofits, companies and communities are partnering with Grand Rapids Community Foundation to achieve their philanthropic goals. We are grateful for their trust and partnership. Through establishing funds, creating planned gifts and giving throughout their lifetimes, our donor partners are investing in today and looking to the future.
Learn more about how to support the causes you care most about at GRFoundation.org.
13
donor partners joined our Metz Legacy Society by including the Community Foundation in their will or estate plans or by creating a life income gift.
29
new funds established, each with its own purpose and meaning.
Somos Comunidad Fund established. This community-led fund will invest in efforts toward the transformation of Latinx communities.
Gifts
From
Donor Partners
$25.4M
in new gifts from generous donor partners
$13M
of those new gifts went to Donor Advised funds
Grant
Partnerships
Grand Rapids Community Foundation allocates resources, implements initiatives and invites partnerships that seek to advance racial, social and economic justice in Kent County. Together with community partners, we strive to connect people, passion and resources to respond to community needs.
Learn more about our grant partnerships and how to apply for them at GRFoundation.org/Grants.
Grants
and
Scholarships
$16.0M
awarded in grants and scholarships
48%
$7,705,945 awarded from Donor Advised funds
23%
$3,626,051 awarded from Fund for Community Good and Field of Interest funds
20%
$3,198,086 awarded from Designated, Agency + Special Project funds
9%
$1,451,817 awarded in scholarships
Grants
Authorized
Engagement
$4,072,907 | 25%
Health
$3,668,291 | 23%
Education
$3,195,038 | 20%
Neighborhoods
$2,060,506 | 13%
Scholarships
$1,451,817 | 9%
Economic Prosperity
$847,541 | 5%x
Environment
$635,609 | 4%
Other
$50,190 | 0%
Engagement
$4,072,907 | 25%
Health
$3,668,291 | 23%
Education
$3,195,038 | 20%
Neighborhoods
$2,060,506 | 13%
Scholarships
$1,451,817 | 9%
Environment
$635,609 | 4%
Other
$50,190 | 0%
Unrestricted
and
Field of Interest
Resources
$3M
in unrestricted resources raised from gifts of 453 donor partners to support organizations who share our commitment to becoming actively anti-racist.
64%
of the $3.3 million in grants awarded through the Fund for Community Good Advisory Committee supported the work of organizations led by people of color.
Scholarship
Awards
$16.0M
awarded in scholarships to Kent County students.
67%
59%
503
scholarships awarded:
425
general scholarship awards
78
Challenge Scholars awarded. scholarship funds during 2021-2022
Challenge
Scholars
Class of 2022
Challenge Scholars from the Class of 2022 are attending Grand Rapids Community College, Grand Valley State University, Western Michigan University and Michigan State University!
48
seniors were eligible for four-year scholarships.
189
students benefited from holistic supports made available through Challenge Scholars.
Catalyzing
Community Giving
Through a grant award from the W.K. Kellogg Foundation, our Black Legacy and Somos Comunidad funds’ advisory committees are reimagining philanthropic relationships in our community and striving to build trust with communities they serve. In 2022, engagement sessions were held to invite feedback from community and inform future grantmaking strategies.
$100K
total was awarded to 20 organizations as relationship building grants from Black Legacy Fund.
18
of the groups funded by Black Legacy Fund and Somos Comunidad Fund were new grant partners with the Community Foundation.
26
introductory grants totaling $26,000 were awarded from Somos Comunidad Fund including 10 grassroots groups who were not 501(c)(3) organizations and used fiduciaries.
$15,000
for a grant co-investment from Black Legacy Fund, Our LGBTQ Fund and Somos Comunidad Fund was awarded to Urban Core Collective as the fiduciary to distribute to community organizers and activists working for justice for Patrick Lyoya. 61 individual community organizers were supported through these funds.
Financials
Grand Rapids Community Foundation’s permanent endowment enables us to respond to current community needs, while managing our long-term financial stability to address the ever-changing needs that will arise in our next century of service and impact. We are grateful for the generosity of donor partners who contribute their financial resources. As stewards of these resources, we are committed to long-term, risk-managed returns and spending practices that align with our commitment to racial, social and economic justice.
Assets
By Fund Type
Unrestricted Funds
$110,260,128 | 28.5%
Donor Advised Funds
$108,050,874 | 27.9%
Designated and Nonprofit Funds
$48,595,771 | 12.6%
Field of Interest Funds
$46,810,992 | 12.1%
Scholarship Funds
$36,450,975 | 9.4%
Community Funds
$27,120,128 | 7.0%
Operating/Special Project + Initiatives/Building
$9,809,771 | 2.5%
TOTAL ASSETS
$387,098,639 | 100.0%
Scholarship Funds
$36,450,975 | 9.4%
Community Funds
$27,120,128 | 7.0%
Operating/Special Project + Initiatives/Building
$9,809,771 | 2.5%
TOTAL ASSETS
$387,098,639 | 100.0%
Asset Allocation
— Balanced Plus Pool
67%
Global Equity
14.3%
Global Fixed Income
7.2%
Diversifying Strategies (Absolute Return)
6.2%
Real Assets (Real Estate, Natural Resources, Infrastructure)
3.2%
Cash
2.1%
Private Debt
Percentage of Investment Portfolio Managed
by
Minority/Women-Owned
Business Enterprise Certified Managers
47.5%
2022
29.6%
2021
3.8%
2020
3.3%
2019
Vendor
Spending —
3-Year
Comparison
By business classification*
LGBTQ-owned
POC-owned
Woman-owned
Other
Small Business
2022
2021
2020
Statement
of
Financial Position
As of June 30, 2022
Assets
| Cash and Investments, at Market Value | $368,129,920 |
| Beneficial Interests in Perpetual Trusts | $1,963,632 |
| Split-Interest Agreements Receivable | $3,957,305 |
| Gifts and Pledges Receivable | $5,291,398 |
| Notes Receivable | $2,915,354 |
| Property, Furniture and Equipment, Net of Accumulated Depreciation | $3,092,228 |
| Other Receivables | $24,077 |
| Reinsurance Contracts | $827,620 |
| Cash Surrender Value of Life Insurance | $897,105 |
| Total Assets | $387,098,639 |
Liabilitiesand Net Assets
| Accounts Payable | $110,763 |
| Grants and Scholarships Payable | $5,354,173 |
| Charitable Gift Annuities Payable | $1,585,366 |
| Funds Held on Behalf of Nonprofit Endowments | $20,290,694 |
| Total Liabilities | $27,340,996 |
| Total Net Assets | $359,757,643 |
*Some businesses meet multiple classifications. Information is self-reported.
Statement
of
Activities
As of June 30, 2022
Revenuesand Gains/(Losses)
| Contributions | $25,431,776 |
| Investment Income/(loss) Net of Fees | ($43,355,817) |
| Change in Fair Value of Charitable Gift Annuities and Split-Interest Agreements | ($1,028,094) |
| Add: Amounts Allocable to Nonprofits | $746,252 |
| Total Revenues and Gains/(Losses) | ($18,205,883) |
Grantsand Expenses
| Grants and Scholarships Authorized | $15,981,899 |
| Community Initiatives and Fund Program Expenses | $266,127 |
| Charitable and Philanthropic Expenses | $2,047,376 |
| Other Operating Expenses | $3,217,829 |
| Less: Amounts Allocable to Nonprofits | ($471,671) |
| Total Grants and Expenses | $21,041,560 |
| Change in Net Assets | ($39,247,443) |
| Net Assets, Beginning of Year | $399,005,086 |
| Net Assets, End of Year | $359,767,643 |
Audited financials have been given an unmodified opinion by our auditors Plante & Moran PLLC. If you would like a copy of the full audit, please call Grand Rapids Community Foundation at 616.454.1751 or visit our website GRFoundation.org/About.