Michigan Gateway Comm Foundation, Buchanan Area Foundation in Buchanan, Michigan (MI)

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Michigan Gateway Comm Foundation, Buchanan Area Foundation
Employer Identification Number (EIN)382180730
Name of OrganizationMichigan Gateway Comm Foundation
Secondary NameBuchanan Area Foundation
Address111 Days Ave, Buchanan, MI 49107-1609
ActivitiesCommunity trust or component
SubsectionCharitable Organization
Ruling Date09/1978
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period03/2014
Assets$5,000,000 to $9,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$8,576,348
Amount of Income$4,127,165
Form 990 Revenue Amount$1,238,369
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Community Foundations


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Amount of income in 2014: $4,127,165 (it was $1,950,428 in 2013)
Michigan Gateway Comm Foundation, Buchanan Area Foundation: 

 $4,127,165
Other organizations performing similar types of work: 

 $123,400

Assets in 2014: $8,576,348 (it was $7,729,400 in 2013)
This organization: 

 $8,576,348
Other organizations performing similar types of work: 

 $188,019

Expenses in 2014: $680,686
This organization: 

 $680,686
Other organizations performing similar types of work: 

 $82,376

Income to expenses ratio in 2014: 6.1
Michigan Gateway Comm Foundation, Buchanan Area Foundation: 

 6.1
Other organizations performing similar types of work: 

 5.6

Number of employees in 2014: 2
This organization: 

 2
Other organizations performing similar types of work: 

 1

Grants share in income in 2014: 33.4%
Michigan Gateway Comm Foundation, Buchanan Area Foundation: 

 33.4%
Other organizations performing similar types of work: 

 20.2%

Financial snapshot ($)

Revenue for 2014

Assets at the end of 2014

Functional expenses for 2014

Support schedule

Checklist
201220132014
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?YesYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?YesYes
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?YesYes
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?YesYes
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoNo
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?NoNo
Did the organization obtain separate, independent audited financial statements for the tax year?YesYes
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?NoNo
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?YesYes
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?NoNo
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?NoNo
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNo
Did the organization receive more than $25,000 in non-cash contributions?NoNo
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?NoNo
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201220132014
The number reported in Box 3 of Form 109612
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return22
Did the organization file all required federal employment tax returns?YesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoNo
Has it filed a Form 990-T for this year?NoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?NoNo
Did the organization notify the donor of the value of the goods or services provided?NoNo
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
201220132014
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$71,427$72,570
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$0$0
Total number of individuals who received more than $100,000 of reportable compensation from the organization00
Total number of independent contractors who received more than $100,000 of compensation from the organization00
Statement of Revenue
201220132014
Total revenue$569,523$740,747$1,238,369
Contributions, Gifts, Grants and Other Similar Amounts$275,371$376,657$414,110
Program Service Revenue$119,368$124,286$140,583
Trusts, Estates, and Agency Accounts $124,286$140,583
All other program service revenue$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$125,772$137,298$224,690
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$0$0$0
Net rental income$12,000$12,000$12,000
Gross rents (Real / Personal)$12,000 / $0$12,000 / $0$12,000 / $0
Less: rental expenses (Real / Personal)$0 / $0$0 / $0$0 / $0
Rental income or (loss) (Real / Personal)$12,000 / $0$12,000 / $0$12,000 / $0
Net gain/loss from sales of assets other than inventory$37,012$90,506$437,811
Gross amount from sales of assets other than inventory (Securities / Other)$799,875 / $0$1,300,187 / $0$3,326,607 / $0
Less: cost or other basis and sales expenses (Securities / Other)$762,863 / $0$1,209,681 / $0$2,888,796 / $0
Gain or (loss) (Securities / Other)$37,012 / $0$90,506 / $0$437,811 / $0
Net income/loss from fundraising events$0$0$0
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$0$0$0
Miscellaneous Revenue$0$0$9,175
Other Financial Vehicles $0$9,175
All other revenue$0$0
Statement of Functional Expenses
201220132014
Total functional expenses$577,929$522,236$680,686
Grants and other assistance to domestic organizations and domestic governments$227,621$360,979
Grants and other assistance to domestic individuals$720$720
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$69,402$72,120$72,120
Compensation not included above, to disqualified persons$0$0
Other salaries and wages$18,449$19,244$20,400
Pension plan accruals and contributions$0$0
Other employee benefits$2,040$2,040
Payroll taxes$6,933$7,253$7,350
Fees for services (non-employees)
Management$0$0
Legal$0$0
Accounting$3,735$4,440
Lobbying$0$0
Professional fundraising services$0$0$0
Investment management fees$32,294$36,396
Other$426$892
Advertising and promotion$0$3,056
Office expenses$2,595$1,996
Information technology$4,006$5,880
Royalties$0$0
Occupancy$12,000$12,000
Travel$1,145$284
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$928$473
Interest$1,469$717
Payments to affiliates$0$0
Depreciation, depletion, and amortization$3,902$4,522
Insurance$3,307$3,453
Other expenses$115,106$130,450
Other expenses$3,541$3,676
Other expenses$2,743$3,265
Other expenses$1,698$1,963
Other expenses$4,343$3,614
Balance Sheet
201220132014
Total assets$7,115,777$7,729,400$8,576,348
Cash - non-interest-bearing$27,624$89,475
Savings and temporary cash investments$169,918$205,418
Pledges and grants receivable, net$0$0
Accounts receivable, net$0$12,394
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$0$0
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$793$793
Land, buildings, and equipment: cost or other basis$73,994$72,957
Investments - publicly traded securities$7,442,114$8,191,837
Investments - other securities$0$0
Investments - program-related$0$0
Intangible assets$0$0
Other assets$14,957$3,474
Total liabilities$953,236$990,344$1,095,956
Accounts payable and accrued expenses$4,700$6,081
Grants payable$0$0
Deferred revenue$0$0
Tax-exempt bond liabilities$0$0$0
Escrow or custodial account liability$968,631$1,070,860
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$0$0$0
Unsecured notes and loans payable to unrelated third parties$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$17,013$19,015
Total net assets or fund balances$6,162,541$6,739,056$7,480,392
Unrestricted net assets$6,737,751$7,479,528
Temporarily restricted net assets$1,305$864
Permanently restricted net assets$0$0
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0
Reason for Public Charity Status (for 2014)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2010 - 2014)
2010 - 2014 Total
Public Support$1,504,115
Subtotal Support$1,560,215
Gifts, grants, contributions, and membership fees received$1,560,215
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$56,100
Total Support$2,371,569
Public Support$1,560,215
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$811,354
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$0
Gross receipts from related activities, etc.$596,442
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1The Taos Community Foundation IncPO BOX 1925, Taos, NM 87571-1925NM1998-12$4,057,729
2The Greenville Area Community Foundation101 N Lafayette St, Greenville, MI 48838-1853MI1989-12$9,647,803
3Shiawassee Community Foundation217 North Washington, Owosso, MI 48867-2836MI1997-07$1,678,530
4Rochester College Foundation800 W Avon Rd, Rochester Hls, MI 48307-2704MI2010-04$1,040,934
5The Leelanau Township Community Foundation IncPO BOX 818, Northport, MI 49670-0818MI1946-11$386,370
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7Garden Party373 Victor St, Highland Park, MI 48203-3117MI2009-05$206,735
8Shakir Charitable Trust, Alaa A Elmoursi TteeC/O 26300 Telegraph Rd, Southfield, MI 48033MI2008-05$206,260
9Sterling Heights Community Betterment Foundation12900 Hall Rd Ste 350, Sterling Hts, MI 48313-1174MI1993-01$186,055
10Utica Community Schools Foundation For Educational Excellence7600 18 Mile Rd, Sterling Hts, MI 48314-4239MI1986-12$185,038
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12West Shore AwarePO BOX 33, Douglas, MI 49406-0033MI2004-03$120,907
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Number of organizations performing similar types of work
Alaska10
Alabama42
Arkansas20
Arizona50
California335
Colorado77
Connecticut51
District of Columbia21
Delaware7
Florida144
Georgia79
Hawaii16
Iowa86
Idaho15
Illinois129
Indiana75
Kansas52
Kentucky26
Louisiana25
Massachusetts83
Maryland76
Maine16
Michigan126
Minnesota62
Missouri48
Mississippi28
Montana45
North Carolina78
North Dakota10
Nebraska44
New Hampshire13
New Jersey99
New Mexico20
Nevada22
New York174
Ohio132
Oklahoma33
Oregon58
Pennsylvania123
Rhode Island20
South Carolina36
South Dakota9
Tennessee37
Texas194
Utah27
Virginia70
Vermont13
Washington71
Wisconsin83
West Virginia22
Wyoming12
International7
Total3,151

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