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Founded in 1922, the Grand Rapids Community Foundation is Michigan's first community foundation.
While the Community Foundation's asset base changes with market fluctuations, donations and grant making, at the close of the 2007/2008 fiscal year (June 30, 2008) Grand Rapids Community Foundation assets totaled $239 million.
Each year the funding available for grants is 5 percent of the endowment's average value for 16 previous calendar quarters. With endowment growth, the Grand Rapids Community Foundation has increased the number and amount of grants it awards to community groups and organizations each year. In fiscal year 2007/2008, the Foundation awarded over 1,400 grants and scholarships totaling $9.2 million.
The Grand Rapids Community Foundation operates in compliance with the National Standards for Community Foundations as set forth by the Council on Foundations. Evaluated and determined by a rigorous peer review process, it is one of 15 accredited community foundations in Michigan.
These six categories guide the Community Foundation's Fund for the Community Good (unrestricted endowment) grantmaking decisions.
- Academic achievement
- Economic prosperity
- Healthy ecosystems
- Social enrichment
- Vibrant neighborhoods
- Healthy people
Grand Rapids Community Foundation has several smaller affiliated foundations: the Cascade Community Fund, the Lowell Area Community Fund, Southeast Ottawa Community Foundation, Ionia County Community Foundation, Sparta Community Foundation and Wyoming Community Foundation. These unique partnerships enable these affiliates to pool funds and take advantage of the expertise of the Foundation.
The Foundation is governed by a 11-member board of trustees made up of community representatives. Several volunteer committees serve the Foundation lending their expertise in grant review, personnel, audit, scholarship selection and investment review.