RIGHT PLACE FOUNDATION

EIN: 274012914 501(c)(3) Community Improvement

GRAND RAPIDS, MI

Total Revenue
$3,369,393
Total Expenses
$1,533,497
Total Assets
$3,663,574
Net Assets
$3,517,574
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2010
Legal Domicile
MI
Principal Officer
RANDY THELEN
Phone
6167710325
Tax Period
2024-01-01 to 2024-12-31

RIGHT PLACE FOUNDATION, founded in 2010, is a community nonprofit in the Community Improvement sector that reported $3.4M in total revenue in fiscal year 2024. Revenue surged 93% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.8M, a strong 54% operating margin.

Mission

TO LESSEN THE BURDENS OF GOVERNMENT BY PERFORMING ECONOMIC DEVELOPMENT SERVICES FOR KENT COUNTY, FOR THE CITY OF GRAND RAPIDS, AND FOR TOWNSHIPS AND OTHER LOCAL UNITS OF GOVERNMENT IN AND AROUND KENT COUNTY, MICHIGAN, THAT WOULD OTHERWISE PROVIDE SUCH SERVICES THEMSELVES; AND TO SOLICIT, RECEIVE AND ADMINISTER FUNDS EXCLUSIVELY FOR SUCH CHARITABLE PURPOSES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,369,393
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $3,369,393

Expense Breakdown

Grants Paid $1,530,575
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,530,575
Other Expenses $2,922
TOTAL EXPENSES $1,533,497

Year-over-Year Comparison

2024 2023 Change
Revenue $3,369,393 $1,749,506 +0.9%
Expenses $1,533,497 $1,333,210 +0.2%
Net Income $1,835,896 $416,296 +3.4%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
11
Independent Members
10
Employees
N/A
Volunteers
10

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$774,776
Total Directors
11
$592,833
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RANDY THELEN PRESIDENT & CEO 1.00
Officer Director
$0 $55,815 $592,833
TINA FREESE DECKER DIRECTOR 1.00
Director
$0 $0 $0
BILL PINK VICE CHAIR / TREASURER 1.00
Officer Director
$0 $0 $0
STEVE DOWNING CHAIR 1.00
Officer Director
$0 $0 $0
JOSH HULST DIRECTOR 1.00
Director
$0 $0 $0
BLAKE W KRUEGER DIRECTOR 1.00
Director
$0 $0 $0
PHILOMENA MANTELLA DIRECTOR 1.00
Director
$0 $0 $0
GARRICK J ROCHOW DIRECTOR 1.00
Director
$0 $0 $0
RENEE C TABBEN DIRECTOR 1.00
Director
$0 $0 $0
RICK KEYES DIRECTOR 1.00
Director
$0 $0 $0
SEAN P WELSH DIRECTOR 1.00
Director
$0 $0 $0
JANE TIERNEY ASSISTANT TREASURER & SVP 1.00
Officer
$0 $21,262 $181,943
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $3,369,393 $1,533,497 $3,663,574 $1,835,896
2023 $1,749,506 $1,333,210 $1,827,678 $416,296
2022 $487,480 $975,530 $1,420,582 $-488,050
2021 $1,296,715 $1,279,355 $1,899,566 $17,360
2020 $1,770,946 $1,660,332 $1,877,759 $110,614
2019 $1,773,984 $1,682,370 $1,966,458 $91,614
2018 $738,314 $1,633,855 $1,849,844 $-895,541
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