2024-11-15T14:54:00-06:00 2024-06-30 381357951 PLANTE & MORAN PLLC 19176 HALL ROAD SUITE 300 CLINTON TOWNSHIP MI 48038 990 2023-07-01 237013727 SCHOOLCRAFT COLLEGE FOUNDATION SCHO 7344624455 18600 HAGGERTY ROAD LIVONIA MI 48152 DAWN MAGRETTA EXECUTIVE DIRECTOR 7344624619 2024-11-14 1 1 DAVID LOWENTHAL P00378651 5864164900 2024-11-14 2023 2024-10-15 13:58:12Z DAWN MAGRETTA 18600 HAGGERTY ROAD LIVONIA MI 48152 3749223 0 X WWW.SCHOOLCRAFT.EDU/FOUNDATION X 1966 MI TO SUPPORT THE PROGRAMS, PURPOSES AND INITIATIVES OF SCHOOLCRAFT COLLEGE. 15 13 0 50 0 0 1871111 1593828 0 0 1069224 1081095 -18530 5590 2921805 2680513 2679618 1312104 0 0 0 0 0 0 56148 304863 338669 2984481 1650773 -62676 1029740 18961454 21620763 392295 786492 18569159 20834271 TO SUPPORT THE PROGRAMS, PURPOSES AND INITIATIVES OF SCHOOLCRAFT COLLEGE. 0 0 670780 670780 GRANTS - TO CREATE NEW OR ENHANCE CURRENT EDUCATIONAL PROGRAMS AT SCHOOLCRAFT COLLEGE. 641324 641324 SCHOLARSHIPS - SUPPORT ACADEMIC ACHIEVEMENT AND/OR PROVIDE FOR FINANCIAL NEED 1312104 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 15 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MI X DAWN MAGRETTA 7344624619 18600 HAGGERTY ROAD LIVONIA MI 481522696 GLENN CERNY EX-OFFICIO 1.00 40.00 X 0 405241 188886 DAWN MAGRETTA EXECUTIVE DIRECTOR 40.00 0.00 X X 0 134474 18100 LOIS MCENTYRE PAST PRESIDENT 1.00 0.00 X X 0 0 0 LYNN COBURN PRESIDENT 1.00 0.00 X X 0 0 0 JAMES FAUSONE TREASURER 1.00 0.00 X X 0 0 0 STUART BAKER SECRETARY 1.00 0.00 X X 0 0 0 DAN PAULSON BOARD MEMBER 1.00 0.00 X 0 0 0 MARINA SHOEMEKER BOARD MEMBER 1.00 0.00 X 0 0 0 JOHN WALSH BOARD MEMBER 1.00 0.00 X 0 0 0 JEFF HAMILTON BOARD MEMBER 1.00 0.00 X 0 0 0 DAVID GROTH BOARD MEMBER 1.00 0.00 X 0 0 0 HELEN MCGRATH BOARD MEMBER 1.00 0.00 X 0 0 0 ALEC THOMPSON BOARD MEMBER 1.00 0.00 X 0 0 0 BRIAN BRODERICK EX-OFFICIO 1.00 0.00 X 0 0 0 RAM RAMANUJAM BOARD MEMBER 1.00 0.00 X 0 0 0 0 539715 206986 0 0 1 0 0 1593828 1593828 665227 665227 1484578 1068710 415868 415868 415868 ALUMNI EVENTS 611710 5590 5590 5590 2680513 0 0 1086685 670780 670780 641324 641324 10821 10821 79689 79689 52120 24803 27317 27022 25823 1199 41696 28197 13499 20630 20630 DEVELOPMENT EXPENSES 88313 74180 14133 MEMBERSHIPS 18378 18378 1650773 1312104 282521 56148 87256 600370 319180 318535 5350 129833 22306 24542 18435487 20451788 91875 95695 18961454 21620763 333742 396165 14167 284944 66290 44386 39093 392295 786492 X 2925314 3380952 15643845 17453319 18569159 20834271 18961454 21620763 X 1029740 1226818 8554 X X 0 1 X 1 0 X 698579 706009 878003 1871111 1593828 5747530 623471 673899 692790 580119 675434 3245713 1322050 1379908 1570793 2451230 2269262 8993243 985731 8007512 497142 446905 671923 592467 665227 2873664 11866907 251811 0.67480 0.72170 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13416991 627100 1663644 658640 105757 14943338 11813822 830220 1269716 496767 13416991 13282934 414276 -1520244 363144 11813822 9689038 322690 3686830 415624 13282934 10131018 222624 -241433 423171 9689038 0.00000 1.00000 0.00000 0 0 0 LIABILITY UNDER CHARITABLE REMAINDER UNITRUST AND GIFT ANNUITY AGREEMENTS 39093 39093 4591319 1226818 675434 8554 1910806 2680513 0 2680513 2326207 675434 675434 1650773 0 1650773 PART V, LINE 4: DISTRIBUTIONS TO SCHOOLCRAFT COLLEGE FOR SCHOLARSHIPS, GRANTS, AND/OR ANY OTHER PURPOSE APPROVED BY THE BOARD AND ACCEPTED BY THE COLLEGE. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN ACTUARIAL VALUE OF CHARITABLE UNITRUST AGREEMENT 8,933. CHANGE IN VALUE OF BENEFICIAL INTEREST IN REMAINDER TRUSTS -379. 1 SCHOOLCRAFT COLLEGE 18600 HAGGERTY ROAD LIVONIA MI 48152 381685740 115 670780 0 N/A N/A SCHOLARSHIPS TO STUDENTS AND GENERAL SUPPORT 1 0 SCHOLARSHIPS 694 641324 N/A N/A PART I, LINE 2, PART III, COLUMN (B) ON OR BEFORE THE MARCH BOARD OF GOVERNORS MEETING, THE SPENDING POLICY IS REVIEWED AND APPROVED FOR THE NEXT FISCAL YEAR. BASED ON THE APPROVED POLICY, THE EXECUTIVE DIRECTOR OF THE SCHOOLCRAFT COLLEGE FOUNDATION REVIEWS THE FUND BALANCES AND DETERMINES THE AMOUNTS AVAILABLE TO BE PROVIDED TO THE COLLEGE FOR SCHOLARSHIPS. THE DIRECTOR OF ANNUAL GIVING AND SCHOLARSHIP ADMINISTRATION MATCHES THE FUNDS FOR DISBURSEMENT TO EACH ONLINE SCHOLARSHIP APPLICATION WHICH CONTAINS THE ELIGIBILITY AND CRITERIA FOR EACH AWARD. THE ONLINE APPLICATION SYSTEM OPENS TO STUDENTS ANNUALLY IN FEBRUARY AND REMAINS OPEN FOR THE ACADEMIC YEAR. DEPENDING ON THE AWARD CRITERIA, THE DIRECTOR OF ANNUAL GIVING AND SCHOLARSHIP ADMINISTRATION IS RESPONSIBLE FOR DETERMINING EACH SCHOLARSHIP RECIPIENT INDEPENDENTLY, WITH A COMMITTEE OR ACADEMIC DEPARTMENT REPRESENTATIVE. THE FOUNDATION HAS THE FINAL AUTHORITY OF DETERMINING EACH SCHOLARSHIP RECIPIENT. THE DIRECTOR OF ANNUAL GIVING AND SCHOLARSHIP ADMINISTRATION PROVIDES WRITTEN NOTICE TO THE FINANCIAL AID OFFICE TO HAVE AWARDS PLACED IN STUDENT'S ACCOUNTS. AWARD AMOUNTS ARE DIRECTLY CHARGED BACK TO THE INDIVIDUAL FOUNDATION ACCOUNTS. 0 0 0 0 0 0 0 0 0 GLENN CERNY EX-OFFICIO 0 282863 0 83633 0 38745 0 155629 0 33257 0 594127 0 0 DAWN MAGRETTA EXECUTIVE DIRECTOR 0 111830 0 18360 0 4284 0 0 0 18100 0 152574 0 0 FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS PROVIDED BY EMAIL TO EACH MEMBER ON THE BOARD INCLUDING THE AUDIT COMMITTEE MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, BOARD MEMBERS AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE ON AN ANNUAL BASIS THOSE INTERESTS THAT COULD GIVE RISE TO CONFLICTS. THIS POLICY IS MONITORED AND ENFORCED BY AN INTERNAL REVIEW EACH YEAR. NEW DISCLOSURE FORMS ARE SUPPLIED TO THE AFFECTED PARTIES ANNUALLY AND COMPLETED FORMS ARE KEPT ON FILE IN THE FOUNDATION OFFICES. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: INCREASE IN ACTUARIAL VALUE OF CHARITABLE UNITRUST AGREEMENT 8,933. CHANGE IN VALUE OF BENEFICIAL INTEREST IN REMAINDER TRUST -379. SCHOOLCRAFT COLLEGE 18600 HAGGERTY ROAD LIVONIA MI 481522696 381685740 HIGHER EDUCATION MI 115 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0