Program areas at GLCF
Cinnaire provides equity capital and flexible loans to expand and preserve affordable housing in underserved communities. These investments revitalize neighborhoods, empower individuals and create economic opportunities.
Development fees charged related to providing expertise in the development of housing for low income tenants in conjunction with local nonprofit organizations allows the organization to build capacity to develop additional housing sites for low income tenants and to assist additional local nonprofit organizations in their related efforts.
Loans are made to economically underserved communities to support housing and economic opportunities for low and moderate income individuals and families. The low and moderate income people are typically residents of rural areas. The borrowers are not eligible for typical bank financing. Loan terms, duration, maturity, and loan to value terms are not offered by commercial bank or credit unions.
Personnel at GLCF
| Name | Title | Compensation | Date of data |
|---|
| Mark McDaniel | Cheif Executive Officer / President and Chief Executive Officer | $960,197 | 2022-12-31 |
| Kevin Crawley | Chief Operating Officer | $541,183 | 2022-12-31 |
| Brett Oumdeian | Chief Financial Officer | $408,478 | 2023-11-15 |
| Deborah Toby | Chief Human Resource Officer / Executive Vice President / Senior Vice President , Human Resources and Administrative Services | $323,582 | 2022-12-31 |
| Ben Stehouwer | Senior Vice President | $311,521 | 2022-12-31 |
| ...and 14 more key personnel |
Financials for GLCF
| Revenues | FYE 12/2022 | FYE 12/2021 | % Change |
|---|
| Total grants, contributions, etc. | $12,188,000 | $2,649,309 | 360% |
| Investment income and dividends | $288,154 | $123,596 | 133.1% |
| Net rental income | $0 | $0 | - |
| Net gain from sale of non-inventory assets | $14,797,822 | $20,519 | 72017.7% |
| Gross sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $22,558,854 | $19,057,296 | 18.4% |
| Total revenues | $49,832,830 | $21,850,720 | 128.1% |
Organizations like GLCF
| Organization | Type | Location | Revenue |
|---|
| The Myron Stratton Home | 501(c)(3) | Colorado Springs, CO | $19,177,026 |
| Taylor Community | 501(c)(3) | Laconia, NH | $22,968,987 |
| Poydras Home | 501(c)(3) | New Orleans, LA | $13,379,964 |
| Katz Amsterdam Foundation | 501(c)(3) | Edgewater, CO | $18,721,603 |
| Global Support and Development (GSD) | 501(c)(3) | Redwood City, CA | $59,060,327 |
| Job Haines Home | 501(c)(3) | Bloomfield, NJ | $15,228,316 |
| Monterey Bay Aquarium Research Institute (MBARI) | 501(c)(3) | Moss Landing, CA | $90,937,091 |
| Frontline Community Services | 501(c)(3) | Beltsville, MD | $24,016,865 |
| Making Waves Foundation (MWF) | 501(c)(3) | Richmond, CA | $31,756,669 |
| Las Cumbres Observatory GTN | 501(c)(3) | Goleta, CA | $15,900,024 |
Data update history
January 6, 2024
Posted financials
Added Form 990PF for fiscal year 2022
January 5, 2024
Updated personnel
Identified 3 new personnel
December 26, 2023
Used new vendors
Identified 1 new vendor, including
August 8, 2023
Updated personnel
Identified 5 new personnel
August 7, 2023
Posted financials
Added Form 990PF for fiscal year 2021
Nonprofit Types
Grantmaking organizationsPrivate foundationsPrivate operating foundationsCommunity Development Financial InstitutionsCharities
Issues
Human servicesHousing
Characteristics
Provides grantsPartially liquidatedReceives government fundingTax deductible donations
General information
- Address
- 1118 S Washington Ave
- Lansing, MI 48910
- Metro area
- Lansing-East Lansing, MI
- County
- Ingham County, MI
- Website URL
- cinnaire.com/Â
- Phone
- (877) 367-4523
- Facebook page
- GreatlakescapfundÂ
IRS details
- EIN
- 38-3126310
- Fiscal year end
- December
- Taxreturn type
- Form 990-PF
- Year formed
- 1994
- Eligible to receive tax-deductible contributions (Pub 78)
- Yes
Categorization
- NTEE code, primary
- T20: Private Foundations
- NAICS code, primary
- 813211: Grantmaking Foundations
- Parent/child status
- Independent
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