ANN ARBOR AREA COMMUNITY FOUNDATION

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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

1963

Legal Domicile

Principal Officer

SHANNON E POLK

Phone

7346630401

Tax Period

2023-01-01 to 2023-12-31

ANN ARBOR AREA COMMUNITY FOUNDATION, founded in 1963, is a mid-sized nonprofit in the Philanthropy & Grantmaking sector that reported $10.2M in total revenue in fiscal year 2023. Revenue fell 56% from the prior year — a significant decline worth monitoring. Expenses of $13.3M exceeded revenue, resulting in a 30% operating deficit.

Mission

THE ANN ARBOR AREA COMMUNITY FOUNDATION ENRICHES THE QUALITY OF LIFE IN OUR REGION THROUGH ITS KNOWLEDGEABLE LEADERSHIP, ENGAGED GRANTMAKING, AND CREATIVE PARTNERSHIPS WITH DONORS TO MAKE PHILANTHROPIC INVESTMENTS AND BUILD ENDOWMENT.

Program Service Accomplishments

Program 1

Expenses: $11,344,217 Revenue: $71,845

AAACF FULFILLS ITS EXEMPT PURPOSE BY GRANTING FUNDS TO A VARIETY OF TAX-EXEMPT ORGANIZATIONS, PRIMARILY IN THE WASHTENAW COUNTY AREA, THROUGH A COMPETITIVE PROCESS DETERMINED BY STAFF AND COMMUNITY LEADERS. SINCE ITS FOUNDING MORE THAN 60 YEARS AGO, OVER $99 MILLION HAS BEEN DISTRIBUTED THROUGH 18,500+ GRANTS AND SCHOLARSHIPS. SIGNATURE PROGRAMS INCLUDE A COMMUNITY SCHOLARSHIP PROGRAM TO INCENTIVIZE COLLEGE DEGREE ATTAINMENT BY LOCAL STUDENTS; THE EMPOWERMENT FUND, WHICH SUPPORTS YOUNG BLACK MEN IN ATTAINING EDUCATIONAL SUCCESS; ADVANCEMENT OF HEALTHY & FULFILLING AGING FOR ALL; A DEEP COMMITMENT TO HEALTH AND HUMAN SERVICES, FUNDING BOTH PROGRAMS AND SYSTEMS CHANGE; AND AN ALLOCATION OF 5% OF OUR ENDOWMENT TO LOCAL IMPACT INVESTMENTS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $5,345,431

Program Service Revenue $71,845

Investment Income $4,829,264

Other Revenue $0

TOTAL REVENUE $10,246,540

Expense Breakdown

Grants Paid $8,521,643

Salaries & Benefits $1,701,384

Fundraising Expenses $628,557

Program Expenses $11,344,217

Other Expenses $3,095,618

TOTAL EXPENSES $13,318,645

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,246,540	$23,281,932	-0.6%
Expenses	$13,318,645	$13,519,607	0.0%
Net Income	$-3,072,105	$9,762,325	-1.3%

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

276

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

$414,910

Total Directors

$27,168

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BETSY PETOSKEY	CHAIR THRU 4/2023	4.00	Officer Director	$0	$0	$0
SEAN DUVAL	VICE CHAIR THRU 4/2023 / CHAIR START 5/2023	4.00	Officer Director	$0	$0	$0
KAREN ANDREWS	SECR THRU 4/2023 / VICE CHAIR START 5/2023	4.00	Officer Director	$27,168	$0	$27,168
LAURA HAYDEN	TREASURER	2.50	Officer Director	$0	$0	$0
KARLA OLSON-BELLFI	SECRETARY START 5/2023	2.50	Officer Director	$0	$0	$0
KIANA BARFIELD	BOARD MEMBER THRU 4/2023	1.50	Director	$0	$0	$0
TABITHA BENTLEY	BOARD MEMBER	1.50	Director	$0	$0	$0
CHRIS BERGEN	BOARD MEMBER START 5/2023	1.50	Director	$0	$0	$0
BILL BRINKERHOFF	BOARD MEMBER	1.50	Director	$0	$0	$0
TIM DAMSCHRODER	BOARD MEMBER	1.50	Director	$0	$0	$0
DILIP DAS	BOARD MEMBER	1.50	Director	$0	$0	$0
CATHI DUCHON	BOARD MEMBER START 5/2023	1.50	Director	$0	$0	$0
AARON DWORKIN	BOARD MEMBER	1.50	Director	$0	$0	$0
KEN FISCHER	BOARD MEMBER START 11/2023	1.50	Director	$0	$0	$0
SONYA JACOBS	BOARD MEMBER START 10/2023	1.50	Director	$0	$0	$0
CHRISTINA KIM	BOARD MEMBER	1.50	Director	$0	$0	$0
SRI MADDIPATI	BOARD MEMBER	1.50	Director	$0	$0	$0
AUDREY PRICE DIMARZO	BOARD MEMBER	1.50	Director	$0	$0	$0
ELLA RACETTE	BOARD MEMBER THRU 4/2023	1.50	Director	$0	$0	$0
MICHAEL STAEBLER	BOARD MEMBER THRU 4/2023	1.50	Director	$0	$0	$0
CHUCK WARPEHOSKI	BOARD MEMBER	1.50	Director	$0	$0	$0
SHANNON POLK	PRESIDENT & CEO	50.00	Officer	$218,632	$27,390	$246,022
JAMES HUNTER	CFO & VP FOR OPERATIONS	50.00	Officer	$134,571	$7,149	$141,720
CHRISTOPHER LEMON	VP FOR COMMUNITY INVESTMENTS	50.00	Highest	$108,169	$11,854	$120,023

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	No data	No data	No data	No data
2023	$10,246,540	$13,318,645	$208,073,440	$-3,072,105
2022	$23,281,932	$13,519,607	$186,101,503	$9,762,325
2021	$31,760,954	$13,783,733	$219,428,649	$17,977,221
2020	$22,445,696	$10,573,509	$177,501,252	$11,872,187
2019	$9,871,402	$8,292,546	$147,478,204	$1,578,856
2018	$10,250,703	$9,819,853	$127,367,298	$430,850