Overview
What is Ann Arbor Area Community Foundation?
The Ann Arbor Area Community Foundation is a charitable organization based in Ann Arbor, Michigan. With a workforce of seventeen individuals, they distribute the proceeds from their permanent endowed funds to local tax-exempt organizations primarily in the Washtenaw County area through a competitive grant-making process. Their mission is to enrich the quality of life in their region by making informed philanthropic investments and fostering endowments. Since its inception over half a century ago, the organization has granted over $90 million to more than 16,800 initiatives in various sectors, including education, health services, and aging support. Some of their signature programs include a community scholarship program, the Empowerment Fund, and a commitment to healthy and fulfilling aging for all. They also allocate 5% of their endowment to local impact investments.
Official website here: www.aaacf.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 100%, Four-Star out of Four Star rating.
The Ann Arbor Area Community Foundation has achieved a perfect score of 100%, reflecting its strong performance in accountability and finance. This rating indicates a high level of transparency and responsible financial management, crucial for building trust with donors and the community. The foundation's operations are governed by a majority independent board, which enhances its credibility and effectiveness in decision-making.
The organization demonstrates a solid commitment to ethical standards, as evidenced by its well-documented policies, including conflict of interest and whistleblower policies. The absence of any material diversion of assets and a low liabilities-to-assets ratio further underscores its financial health. Additionally, a significant portion of its expenses is directed towards its programs, with an impressive program expense ratio of 87.62%, indicating that most of its funds are being utilized effectively to serve the community.
While the foundation's financial practices are commendable, ongoing monitoring of its impact and outreach could provide further insights into its overall effectiveness and community engagement. However, the current data presents a very favorable view of the foundation's operations and governance.
This AI summary has been generated from information found on Charity Navigator.
Is Ann Arbor Area Community Foundation legitimate?
Ann Arbor Area Community Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ann Arbor Area Community Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $348,815
Professional Fundraising Fees: $0
Other Salaries and Wages: $913,713
For more financial information, click here
Official website here: www.aaacf.org
What is the mission statement of Ann Arbor Area Community Foundation?
The Ann Arbor Area Community Foundation enriches the quality of life in its region through knowledgeable leadership, engaged grantmaking, and creative partnerships with donors. It makes philanthropic investments and builds endowments by granting funds to tax-exempt organizations, primarily in the Washtenaw County area, via a competitive process determined by staff and community leaders. The foundation has distributed over $90 million through 16,800+ grants and scholarships since its inception over half a century ago. Signature programs include a community scholarship program to incentivize college degree attainment, the Empowerment Fund supporting educational success for young Black men, a commitment to healthy and fulfilling aging for all, and a deep commitment to health and human services, funding both programs and systems change. Additionally, 5% of the foundation's endowment is allocated to local impact investments.
Official website here: www.aaacf.org
Who is the CEO of Ann Arbor Area Community Foundation?
Shannon E Polk is the Principal Officer of Ann Arbor Area Community Foundation. The CEO's salary of Ann Arbor Area Community Foundation is $196,417 and their total compensation is $206,858.
Official website here: www.aaacf.org
What is the revenue of Ann Arbor Area Community Foundation?
Ann Arbor Area Community Foundation's revenue in 2022 was $23,281,932.
Official website here: www.aaacf.org
Who are the executives of Ann Arbor Area Community Foundation and what are their salaries?
The average compensation at Ann Arbor Area Community Foundation during 2022 was $74,266. There are 17 employees and 296 volunteers at Ann Arbor Area Community Foundation.
Here are 21 key members and their salaries (Ann Arbor Area Community Foundation's CEO's salary is $196,417 and their total compensation is $206,858):
- Compensation: $196,417
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- Other: $10,441
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Official website here: www.aaacf.org
Where can I find the form 990 for Ann Arbor Area Community Foundation?
Ann Arbor Area Community Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.aaacf.org
Learn more at the official website: www.aaacf.org
Mission Statement of Ann Arbor Area Community Foundation
The Ann Arbor Area Community Foundation, a leading philanthropic organization, enriches the quality of life in its region through knowledgeable leadership, engaged grantmaking, and creative partnerships with donors. By making strategic investments and building endowments, the Foundation seeks to create lasting social change.
Capitalizing on its half-century long history, the Ann Arbor Area Community Foundation has distributed over $90 million through more than 16,800 grants and scholarships. The Foundation's grantmaking process is determined by a team of knowledgeable staff and community leaders, ensuring the most effective allocation of funds.
The Ann Arbor Area Community Foundation's mission extends beyond simple charitable giving. It invests in the future of local students through initiatives such as the Community Scholarship Program, which incentivizes college degree attainment. Additionally, it supports young Black men in their educational pursuits through the Empowerment Fund. The Foundation also prioritizes the advancement of healthy and fulfilling aging for all members of the community. In response to pressing social issues, the Foundation is deeply committed to funding both programs and systemic change within the fields of health and human services. Furthermore, it allocates 5% of its endowment to local impact investments.
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Impact
October, 2024
The Ann Arbor Area Community Foundation (AAACF) significantly impacts Washtenaw County by distributing proceeds from its permanently endowed funds to local charitable organizations. Over its more than 50 years of operation, AAACF has granted over $90 million through more than 16,800 grants and scholarships, enhancing community resources and supporting diverse initiatives.
Key programs include the Community Scholarship Program, which incentivizes local students to pursue college degrees, and the Empowerment Fund, designed to assist young Black men in achieving educational success. Additionally, AAACF focuses on promoting healthy and fulfilling aging for all community members and is deeply committed to health and human services, funding both direct programs and systemic changes.
AAACF also allocates 5% of its endowment towards local impact investments, demonstrating a proactive approach to philanthropy and community development. Through knowledgeable leadership, engaged grantmaking, and creative partnerships with donors, the foundation enriches the quality of life throughout the region, ultimately fostering growth, equity, and opportunity within Washtenaw County.
This information is meant to be a general summary of Ann Arbor Area Community Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $19,011,755
- Program Service Revenue: $9,850
- Gross Receipts: $77,453,637
Assets and Liabilities:
- Total Assets: $186,101,503
- Total Liabilities: $5,234,967
- Net Assets: $180,866,536
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME - PRI
Revenue
$9,850
Organization Details
Founding Year
1963
Phone
(734) 663-0401Principal Officer
Shannon E Polk
Main Address
301 N MAIN ST 300, ANN ARBOR, MI, 48104
Website
www.aaacf.orgNTEE Category
Code: T31 - Philanthropy
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