GRAND RAPIDS AREA COMMUNITY FOUNDATION

EIN: 411761590 501(c)(3) Community Improvement

GRAND RAPIDS, MN

Total Revenue
$3,093,747
Total Expenses
$1,681,236
Total Assets
$31,096,735
Net Assets
$27,904,529
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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
1993
Legal Domicile
MN
Principal Officer
MINDY NUHRING
Phone
2189999100
Tax Period
2023-01-01 to 2023-12-31

GRAND RAPIDS AREA COMMUNITY FOUNDATION, founded in 1993, is a community nonprofit in the Community Improvement sector that reported $3.1M in total revenue in fiscal year 2023. Revenue fell 23% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $1.4M, a strong 46% operating margin.

Mission

INSPIRE INDIVIDUALS AND ORGANIZATIONS TO INVEST IN THEIR COMMUNITY TO IMPROVE THE QUALITY OF LIFE.

Program Service Accomplishments

Program 1
Expenses: $1,388,065

IN 2023, THE FOUNDATION PROVIDED 570 GRANTS, TOTALING 804,476 BACK TO THE COMMUNITY. THE FOUNDATION ALSO PROVIDED 215 SCHOLARSHIPS, TOTALING 318,350 TO INDIVIDUALS AND FAMILIES. THE FOUNDATION HAS A...

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IN 2023, THE FOUNDATION PROVIDED 570 GRANTS, TOTALING 804,476 BACK TO THE COMMUNITY. THE FOUNDATION ALSO PROVIDED 215 SCHOLARSHIPS, TOTALING 318,350 TO INDIVIDUALS AND FAMILIES. THE FOUNDATION HAS A DIVERSE GROUP OF DONORS AND COMMUNITY NEEDS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,847,768
Program Service Revenue $0
Investment Income $1,223,185
Other Revenue $22,794
TOTAL REVENUE $3,093,747

Expense Breakdown

Grants Paid $1,122,826
Salaries & Benefits $224,574
Fundraising Expenses $54,991
Program Expenses $1,388,065
Other Expenses $333,836
TOTAL EXPENSES $1,681,236

Year-over-Year Comparison

2023 2022 Change
Revenue $3,093,747 $4,006,320 -0.2%
Expenses $1,681,236 $1,876,287 -0.1%
Net Income $1,412,511 $2,130,033 -0.3%
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

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Governance

Voting Members
10
Independent Members
10
Employees
3
Volunteers
225

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
5
$88,151
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SHANNON BENOLKEN CHAIR 5.00
Officer Director
$0 $0 $0
DIANE LARSON VICE CHAIR 5.00
Officer Director
$0 $0 $0
CHRISTINA ANDERSON SECRETARY 1.00
Director
$0 $0 $0
JAMIE BROWN TREASURER 5.00
Officer Director
$0 $0 $0
JULIE WILCOX PAST CHAIR 5.00
Officer Director
$0 $0 $0
SARAH ANDERSON DIRECTOR 1.00
Director
$0 $0 $0
ELENA COWAN DIRECTOR 1.00
Director
$0 $0 $0
PETER MCDERMOTT DIRECTOR 1.00
Director
$0 $0 $0
JERRY OPHOVEN DIRECTOR 1.00
Director
$0 $0 $0
ROY SMITH DIRECTOR 1.00
Director
$0 $0 $0
MINDY NUHRING EXECUTIVE DI 40.00
Officer
$85,671 $2,480 $88,151
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
2025 No data No data No data No data
2024 No data No data No data No data
2023 $3,093,747 $1,681,236 $31,096,735 $1,412,511
2022 $3,717,109 $2,133,776 $28,200,490 $1,583,333
2021 $4,006,320 $1,876,287 $30,863,556 $2,130,033
2020 $4,273,292 $2,387,292 $27,178,188 $1,886,000
2019 $2,966,967 $1,836,291 $24,515,040 $1,130,676
2018 $3,093,463 $1,445,717 $20,485,847 $1,647,746
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