Fremont Area Community Foundation

Nonprofit profile at a glance

EIN
381443367
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Fremont, MI, USA
Phone
2319245350
Rating
87
Verdict
STRONG
Rating confidence
Standard
Sector
Community Foundations

Official website

Reported finances

Revenue
$15,175,959
Expenses
$12,858,682
Assets
$306,738,307
Liabilities
$5,239,881

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

18 people listed

Executive titles in this filing

  • KATHYRN POPE (VICE PRESIDENT AND CHIEF FINANCIAL OFFICER)
  • SHELLY KASPRZYCKI (PRESIDENT AND CEO)
  • LINDSAY HAGER (VICE PRESIDENT AND CHIEF PHILANTHROPY OFFICER)

Highest reported compensation

  • SHELLY KASPRZYCKI (PRESIDENT AND CEO): $324,856 total reported compensation
  • KATHYRN POPE (VICE PRESIDENT AND CHIEF FINANCIAL OFFICER): $211,832 total reported compensation
  • LINDSAY HAGER (VICE PRESIDENT AND CHIEF PHILANTHROPY OFFICER): $175,212 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To enhance the quality of life for all people of newaygo county and surrounding communities.

What it reported doing in 2024

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 community of Newaygo County. The program aims to increase overall business capacity by developing local economic partnerships and utilizing community resources.

Operating model

Revenue model
Investment-supported. 75% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 86% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 84
  • Accountability: 100
  • Sustainability: 81
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.6%; rating input score 97
  • Program expense ratio: 77.6%; rating input score 78
  • Fundraising efficiency: $4.31 raised per $1 spent on fundraising; rating input score 17; 17th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 3rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 15.3%; rating input score 77; 77th percentile among comparable filings
  • Total-asset coverage ratio: 23.85; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 90; 90th percentile among comparable filings
  • Officer compensation ratio: 5.5%; rating input score 46; 46th percentile among comparable filings

Growth

  • Program expense growth: 1.1% per year; rating input score 100; 15th percentile among comparable filings
  • Revenue growth: 1.2% per year; rating input score 100; 13th percentile among comparable filings
  • Asset growth: 3.5% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 96.6% of revenue deployed · 77.6% of spending went to programs
  • Governance: 13 of 13 board members independent · 8 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $10M in reported program spending
  • Leadership: top reported pay $325K · 18 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $181K reported
  • Consistency: 38 of 40 current checks pass · 2 findings to review
  • Schedules: 8 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 140 filed money-flow records
  • Related organizations: 139 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 17/100.
  • Moderate — Sustainability: Officer compensation ratio scored 46/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.