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%

Economic Prosperity $847,541 | 5%

Environment
$635,609 | 4%

Other
$50,190 | 0%

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 led by people of color as: People of color are a majority in three or more of the following categories: founder(s), executive director, leadership team, board of directors, volunteers and staff.

$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%

of all scholarships awarded to first-generation students.

59%

of all scholarships awarded to students of color.

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

As of June 30, 2022

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

As of June 30, 2022

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

As of June 30, 2022

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.