Fremont Area Community Foundation (EIN 381443367) - Form 990 Financial Analysis & Trantor Score

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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

1951

Legal Domicile

Phone

2319245350

Tax Period

2024-01-01 to 2024-12-31

Fremont Area Community Foundation, founded in 1951, is a mid-sized nonprofit in the Philanthropy & Grantmaking sector that reported $15.2M in total revenue in fiscal year 2024. The organization ran a surplus of $2.3M, a strong 15% operating margin.

Mission

TO ENHANCE THE QUALITY OF LIFE FOR ALL PEOPLE OF NEWAYGO COUNTY AND SURROUNDING COMMUNITIES.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,521,451

Program Service Revenue $365,611

Investment Income $12,289,920

Other Revenue $-1,023

TOTAL REVENUE $15,175,959

Expense Breakdown

Grants Paid $8,564,044

Salaries & Benefits $2,449,193

Fundraising Expenses $584,436

Program Expenses $9,974,658

Other Expenses $1,845,445

TOTAL EXPENSES $12,858,682

Year-over-Year Comparison

	2024	2023	Change
Revenue	$15,175,959	$14,863,634	+0.0%
Expenses	$12,858,682	$10,675,286	+0.2%
Net Income	$2,317,277	$4,188,348	-0.4%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

200

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

$536,688

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEN DELAAT	VICE CHAIR STARTING 6/13/24	1.0	Officer Director	$0	$0	$0
LORI TUBBERGEN CLARK	CHAIR part-year through 6/13/2024	1.0	Officer Director	$0	$0	$0
MIKHAIL SALACINA	SECRETARY THROUGH 6/13/24 TREASURER STARTING 6/13/24	1.0	Officer Director	$0	$0	$0
SUSAN WENTE	SECRETARY STARTING 6/13/24	1.0	Officer Director	$0	$0	$0
WILLIAM ALSOVER	TREASURER THROUGH 6/13/24, CHAIR STARTING 6/13/24	1.0	Officer Director	$0	$0	$0
CHARLES CHANDLER	TRUSTEE	1.0	Director	$0	$0	$0
CHRIS WREN	TRUSTEE	1.0	Director	$0	$0	$0
DENISE SUTTLES	TRUSTEE	1.0	Director	$0	$0	$0
DOROTHY PARIS	TRUSTEE STARTING 6/13/24	1.0	Director	$0	$0	$0
JULIE BURRELL	TRUSTEE STARTING 6/13/24	1.0	Director	$0	$0	$0
JULIE TATKO	TRUSTEE	1.0	Director	$0	$0	$0
MICHEAL ANDERSON	TRUSTEE THROUGH 6/13/24	1.0	Director	$0	$0	$0
PEGGY ROSSLER	TRUSTEE	1.0	Director	$0	$0	$0
TODD DEKRYGER	TRUSTEE	1.0	Director	$0	$0	$0
TRAVIS BULL	TRUSTEE	1.0	Director	$0	$0	$0
KATHYRN POPE	VICE PRESIDENT AND CHIEF FINANCIAL OFFICER	35.0	Officer	$158,290	$53,542	$211,832
SHELLY KASPRZYCKI	PRESIDENT AND CEO	35.0	Officer	$247,848	$77,008	$324,856
LINDSAY HAGER	VICE PRESIDENT AND CHIEF PHILANTHROPY OFFICER	35.0	Highest	$135,061	$40,151	$175,212

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	$15,175,959	$12,858,682	$306,738,307	$2,317,277
2023	$14,863,634	$10,675,286	$268,983,898	$4,188,348
2022	$14,536,377	$11,767,007	$241,936,076	$2,769,370
2021	$22,142,594	$11,267,074	$291,559,908	$10,875,520
2020	$7,394,082	$11,843,812	$260,806,891	$-4,449,730
2019	$10,648,305	$11,138,305	$245,106,378	$-490,000
2019	$10,648,305	$11,138,305	$245,106,378	$-490,000
2018	$20,470,839	$10,963,206	$214,005,010	$9,507,633

Fremont Area Community Foundation