Data and Financials

2023 - 2024

Data

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 about at GRFoundation.org/Giving.

Gifts from Donor Partners

No Data Found

$16.14M

in new gifts from generous donor partners

$1.86M

of those new gifts went to Donor Advised funds

5

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

20

new funds established, each with its own purpose and meaning

Donor Advised Funds in Action

228

Donor Advised funds are hosted at the Community Foundation

72%

of DAFs recommended grants to nonprofit partners aligned with their passions

1,065

grants were awarded from DAFs, representing $4.95M awarded to nonprofits

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

$16.08M

awarded in grants and scholarships

No Data Found

Unrestricted and Field of Interest Resources

Our grantmaking strategy prioritizes organizations that lead with equity and/or are led by people of color. We define an organization as led by people of color when people of color are the majority in three or more of the following categories: founder(s), executive director, leadership team, board of directors, volunteers and staff.

$658,166

unrestricted resources raised from 436 donor partners

97%

of the $4.8 million in grants awarded through the Fund for Community Good Advisory Committee supported the work of organizations led by people of color

Grants Authorized by Priority Area

No Data Found

Scholarship Awards

479

scholarship recipients

391

of the scholarship recipients received general scholarship awards

88

of the scholarship recipients received Challenge Scholars scholarship funds during 2023-2024

$1.77M

awarded in scholarships to students

65%

of all scholarship recipients are first-generation students

77%

of all scholarship recipients are students of color

Challenge Scholars

“Graduation was new and different for me...it felt overwhelming in a good way. I knew my family was in the audience cheering me on, so it was really rewarding and fulfilling.”

Sandra Lopez
Challenge Scholars Student, 2024 Grand Valley State University Graduate
A person with long dark hair smiles while standing outdoors. They wear a long-sleeve beige top and light blue jeans. Green trees and a brick wall are in the background.
Class of 2024

Challenge Scholars from the classes of 2020 through 2024 attended Grand Valley State University, Ferris State University, Michigan State University, Western Michigan University, Northern Michigan University, University of Michigan Ann Arbor, University of Michigan Dearborn, and Grand Rapids Community College.

74

seniors were eligible for four-year scholarships

227

students benefited from holistic support made available through Challenge Scholars

2023 - 2024

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 of the future. 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

As of June 30, 2024

No Data Found

Asset Allocation – Balanced Plus Pool

As of June 30, 2024

No Data Found

Percentage of Investment Portfolio Managed by Minority/Women-Owned Business Enterprise Certified Managers

As of June 30, 2024

No Data Found

Vendor Spending – 3-Year Comparison

By business classification*

No Data Found

*Some businesses meet multiple classifications. Information is self-reported.

2023 - 2024

Statement of Position and Activities

Statement of Financial Position as of June 30, 2024

Assets
Cash and Investments, at market value$430,558,844
Beneficial Interests in Perpetual Trusts$2,324,568
Split-Interest Agreements Receivable$4,819,501
Gifts and Pledges Receivable$3,451,714
Notes Receivable$2,337,397
Property, Furniture and Equipment, Net of Accumulated Depreciation$2,913,641
Other Receivables & prepaids$5,187
Reinsurance Contracts$940,271
Cash Surrender Value of Life Insurance$980,584
Total Assets$448,331,707
Liabilities and Net Assets
Accounts Payable$119,769
Grants and Scholarships Payable$4,567,306
Charitable Gift Annuities Payable$1,422,835
Funds Held on Behalf of Nonprofit Endowments$23,528,304
Total Liabilities$29,638,214
Total Net Assets$418,693,493

Statement of Activities Year Ended June 30, 2024

Revenue and Gains/(Losses)
Contributions$16,142,347
Investment Income/net of fees$49,355,091
Change in Fair Value of Charitable Gift Annuities & Split-Interest Agreements$496,299
Less: Amounts Allocable to Nonprofits($2,795,697)
Total Revenues and Gains$63,198,040
Grants and Expenses
Grants and Scholarships Authorized$16,078,689
Community Initiatives and Fund Program Expenses$187,459
Charitable and Philanthropic Expenses$1,542,490
Other Operating Expenses$3,806,496
Less: Amounts Allocable to Nonprofits($850,776)
Total Grants and Expenses$20,764,358
Net Assets
Change in Net Assets$42,433,682
Net Assets, Beginning of Year$376,259,811
Net Assets, End of Year$418,693,493

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 at GRFoundation.org/About.