KALAMAZOO FOUNDATION FOR EXCELLENCE (EIN 822587771) - 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

2017

Legal Domicile

Principal Officer

STEVE VICENZI

Phone

2693378047

Tax Period

2023-01-01 to 2023-12-31

KALAMAZOO FOUNDATION FOR EXCELLENCE, founded in 2017, is a community nonprofit in the Public & Societal Benefit sector that reported $7.1M in total revenue in fiscal year 2023. Expenses of $19.3M exceeded revenue, resulting in a 173% operating deficit.

Mission

TO SUPPORT THE GOALS OF THE CITY OF KALAMAZOO, FUND INVESTMENTS, AND EMPOWER RESIDENTS.

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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 $4,005,169

Program Service Revenue $0

Investment Income $3,060,680

Other Revenue $0

TOTAL REVENUE $7,065,849

Expense Breakdown

Grants Paid $18,500,872

Salaries & Benefits $169,108

Fundraising Expenses $75,180

Program Expenses $18,500,872

Other Expenses $600,822

TOTAL EXPENSES $19,270,802

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,065,849	$-45,996	-154.6%
Expenses	$19,270,802	$442,576	+42.5%
Net Income	$-12,204,953	$-488,572	+24.0%

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

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

$157,474

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE BROWN	EXECUTIVE DIRECTOR	40.00	Officer	$138,487	$18,987	$157,474
JONATHAN YARBROUGH	DIRECTOR	1.00	Director	$0	$0	$0
DAVID ANDERSON	DIRECTOR	1.00	Director	$0	$0	$0
JEANNE HESS	DIRECTOR	1.00	Director	$0	$0	$0
RACHEL LONBERG	DIRECTOR	1.00	Director	$0	$0	$0
ALICE TAYLOR	DIRECTOR	1.00	Director	$0	$0	$0
CHARLENE TAYLOR	DIRECTOR	1.00	Director	$0	$0	$0
STEPHANIE HOFFMAN	DIRECTOR	1.00	Director	$0	$0	$0
VON WASHINGTON JR	DIRECTOR	1.00	Director	$0	$0	$0
BOBBY J HOPEWELL	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL HARRISON	DIRECTOR	1.00	Director	$0	$0	$0
DR ANDREA BOSTROM	DIRECTOR	1.00	Director	$0	$0	$0
MARY BALKEMA	DIRECTOR	1.00	Director	$0	$0	$0
IDA SALAS	DIRECTOR	1.00	Director	$0	$0	$0
BARBARA HAMILTON-MILLER	SECRETARY	2.00	Officer Director	$0	$0	$0
ALISA CARREL	TREASURER	2.00	Officer Director	$0	$0	$0
JAMES K RITSEMA	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
SANDRA CALDERON-HUEZO	PRESIDENT	2.00	Officer Director	$0	$0	$0
STEVE VICENZI	CFO	2.00	Officer	$0	$0	$0

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	$7,065,849	$19,270,802	$470,474,393	$-12,204,953
2022	$-45,996	$442,576	$449,296,586	$-488,572
2021	$369,542,486	$416,961	$479,208,810	$369,125,525
2020	$82,875,656	$274,424	$95,817,670	$82,601,232

KALAMAZOO FOUNDATION FOR EXCELLENCE