Financials
Grand Rapids Community Foundation’s permanent endowment enables us to respond to community needs of today, while managing our long-term financial stability to address the ever-changing needs that will arise in the future. We are grateful for the generosity of our donor and volunteer partners, who contribute their financial resources and expertise. As stewards of these resources, we are committed to long-term, risk-managed returns and spending practices that align with our commitment to racial, social and economic justice.
Assets by Fund Type
As of June 30, 2021
Operating/Special Project + Initiatives/Building
$10,881,496 | 2.5%
Community Funds
$31,232,352 | 7.3%
Scholarship Funds
$43,512,270 | 10.2%
Field of Interest Funds
$48,229,761 | 11.3%
No Data Found
Unrestricted Funds
$126,325,993 | 29.5%
Designated and Nonprofit Funds
$51,282,885 | 12.0%
Donor Advised Funds
$116,912,493 | 27.3%
TOTAL ASSETS
$428,377,250 | 100%
No Data Found
Operating/Special Project + Initiatives/Building
$10,881,496 | 2.5%
Community Funds
$31,232,352 | 7.3%
Scholarship Funds
$43,512,270 | 10.2%
Scholarship Funds
$43,512,270 | 10.2%
Unrestricted Funds
$126,325,993 | 29.5%
Designated and Nonprofit Funds
$51,282,885 | 12.0%
Donor Advised Funds
$116,912,493 | 27.3%
TOTAL ASSETS
$31,232,352 | 7.3%
Asset Allocation – Balanced Plus Pool
as of June 30, 2021
0.7%
Private Debt
6.5%
Real Assets (Real Estate, Natural Resources, Infrastructure)
66.5%
Global Equity
10.4%
Diversifying Strategies (Absolute Return)
11.5%
Global Fixed income
4.4%
Cash
Percentage of Investment Portfolio Managed by Minority/ Women-Owned Business Enterprise (MWBE) Certified Managers
as of June 30
29.6%
2021
Grand Rapids Community Foundation was a founding investor in a woman-owned index fund, opening the door for other institutional investors to participate.
3.8%
2020
3.3%
2019
1.5%
2018
Vendor Spending
By Business Classification*
No Data Found
1%
LGBTQ-Owned
20%
Woman-Owned
14%
POC-Owned
45%
Small Business
20%
Other
3 Year Comparison
LGBTQ-Owned
Woman-Owned
POC-Owned
Small Business
Other
No Data Found
2021
No Data Found
2020
No Data Found
2019
*Some businesses meet multiple classifications.
Statement of Financial Position
as of June 30
Assets
Cash and Investments, at Market Value | $407,276,674 |
Beneficial Interests in Perpetual Trusts | $2,405,795 |
Split-Interest Agreements Receivable | $4,713,711 |
Gifts and Pledges Receivable | $5,955,253 |
Notes Receivable | $2,760,259 |
Property, Furniture and Equipment, Net of Accum. Dep. | $3,196,720 |
Other Receivables | $133,841 |
Reinsurance Contracts | $1,088,188 |
Cash Surrender Value of Life Insurance | $846,809 |
Total Assets | $428,377,250 |
Liabilities + Net Assets
Accounts Payable | $87,513 |
Grants and Scholarships Payable | $6,112,486 |
Charitable Gift Annuities Payable | $1,663,548 |
Funds Held on Behalf of Nonprofit Endowments | $21,508,617 |
Total Liabilities | $29,372,164 |
Total Net Assets | $399,005,086 |
Statement of Financial Position
as of June 30
Revenues and Gains/(Losses)
Contributions | $16,233,847 |
Investment Income (Net of Fees) | $90,696,841 |
Change in Fair Value of Charitable Gift Annuities & Split-Interest Agreements | $428,347 |
Less: Amounts Allocable to Nonprofits | ($5,279,809) |
Total Revenues and Gains/(Losses) | $102,079,226 |
Grants and Expenses
Grants and Scholarships Authorized | $18,983,109 |
Community Initiatives and Fund Program Expenses | $402,561 |
Charitable and Philanthropic Expenses | $1,551,225 |
Other Operating Expenses | $2,752,345 |
Less: Amounts Allocable to Nonprofits | ($569,627) |
Total Grants and Operating Expenses | $23,119,613 |
Change in Net Assets | $78,959,613 |
Net Assets, Beginning of Year | $320,045,473 |
Net Assets, End of Year | $399,005,086 |