Michigan Community Foundation Ventures

Nonprofit profile at a glance

EIN
383160228
IRS 990 coverage
2015–2018
Forms available
Form 990 2018
Location
Grand Haven, MI, USA
Phone
6168427080
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Community Foundations

Reported finances

Revenue
$7,091
Expenses
$77,768
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • KYLE CALDWELL STARTED 11-1-18 (PRESIDENT)
  • ROBERT COLLIER RETIRED 12-31-18 (FORMER PRESIDENT)

Highest reported compensation

  • ROBERT COLLIER RETIRED 12-31-18 (FORMER PRESIDENT): $292,104 total reported compensation
  • KYLE CALDWELL STARTED 11-1-18 (PRESIDENT): $43,657 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To support collaborative activites by community foundations will contribute to growth in assets, economies of scale, and meeting & maintaining national standards.

What it reported doing in 2018

Community foundation education activities involving the states of Michigan, Illinois, Indiana & Ohio. A series of nine webinars were provided to community foundations focusing on best practices and other key topics. In addition a community foundation bootcamp was held in Michigan for staff relatively new to the field. A one day retreat was also held for mid-sized community foundations from the three states to network and share best practices. Finally a retreat was provided to community foundations interested in impact/mission investing.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Grant intermediary. The nonprofit sent 95% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 90
  • Accountability: 85
  • Sustainability: 4
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 87.9%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • 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; 79th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 22nd 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: -996.7%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 73.1%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 0.3% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: -11.2% per year; rating input score 0; 33rd percentile among comparable filings
  • Asset growth: -61% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 87.9% of spending went to programs
  • Governance: 3 of 4 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $68K in reported program spending
  • Leadership: top reported pay $292K · 6 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 7 filed schedules · includes grants and executive pay
  • Filing history: 4 filing years from 2015 to 2018
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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.

Key Signals

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

  • High — Sustainability: Operating margin scored 5/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.