Community First Foundation in Arvada, Colorado (CO)

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Community First Foundation
Employer Identification Number (EIN)510157964
Name of OrganizationCommunity First Foundation
Address6870 W 52nd Ave Ste 103, Arvada, CO 80002-3952
ActivitiesGifts, grants, or loans to other organizations, Non financial services of facilities to other organizations
SubsectionCharitable Organization
Ruling Date06/1975
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 Period12/2010
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$53,381,938
Amount of Income$73,158,037
Form 990 Revenue Amount$17,184,258
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Community Foundations


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Amount of income in 2010: $73,158,037
Community First Foundation: 

 $73,158,037
Other organizations performing similar types of work: 

 $134,793

Assets in 2010: $53,381,938
This organization: 

 $53,381,938
Other organizations performing similar types of work: 

 $237,750

Expenses in 2007: $5,396,385
This organization: 

 $5,396,385
Other organizations performing similar types of work: 

 $2,567,949

Income to expenses ratio in 2007: 1.7
Community First Foundation: 

 1.7
Other organizations performing similar types of work: 

 1.9

Expenses allocated to program services in 2007: 82.2%
Community First Foundation: 

 82.2%
Other organizations performing similar types of work: 

 86.7%

Number of employees in 2007: 14
Community First Foundation: 

 14
Other organizations performing similar types of work: 

 6

Employees paid over $50,000 in 2007: 35.7%
Community First Foundation: 

 35.7%
Other organizations performing similar types of work: 

 33.3%

Grants share in income in 2007: 42.2%
Community First Foundation: 

 42.2%
Other organizations performing similar types of work: 

 73.5%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$7,876,943$2,459,203$808,828$1,564,969$4,811,459$6,897,697$9,856,255$9,357,333
Contributions, gifts, grants, and similar amounts received$644,464$934,972$1,321,284$1,808,367$3,696,623$4,345,054$7,040,319$3,949,424
Contributions to donor advised funds$46,474$88,935
Direct public support$644,464$934,972$1,321,284$1,808,367$3,696,623$4,345,054$6,993,845$3,660,489
Indirect public support$0$0$0$0$0$0$0$200,000
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$0$0$0$0$0
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$400,000$400,000$129,677$0$0$0$0$0
Dividends and interest from securities$2,781,606$1,323,634$1,232,874$954,047$1,128,725$2,050,302$2,351,007$2,777,138
Net rental income or (loss)$3,750$0$0$0$0$0$0$0
Gross rents$3,750$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$3,576,408$-434,089$-2,105,862$-1,230,902$-27,155$480,827$241,509$2,343,247
Gross amount from sales of assets other than inventory$18,424,784$16,629,755$15,084,030$10,297,558$19,204,704$20,021,076$24,546,236$38,442,224
Less: cost or other basis and sales expenses$14,848,376$17,063,844$17,189,892$11,528,460$19,231,859$19,540,249$24,304,727$36,098,977
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$470,715$234,686$230,855$33,457$13,266$21,514$223,420$287,524
Total expenses$3,019,189$2,837,367$2,529,717$2,476,310$4,462,968$7,805,989$8,861,894$5,396,385
Program services$2,129,862$1,967,308$1,571,562$1,554,104$3,442,785$6,746,091$7,948,753$4,437,257
Management and general$546,961$532,531$563,772$560,811$536,652$562,942$459,193$569,378
Fundraising$342,366$337,528$394,383$361,395$483,531$496,956$453,948$389,750
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$43,972,801$42,816,549$38,260,640$44,509,613$45,419,006$42,799,443$43,843,675$44,620,603
Excess or (deficit) for the year$4,857,754$-378,164$-1,720,889$-911,341$348,491$-908,292$994,361$3,960,948
Net assets or fund balances at beginning of year$42,206,761$43,972,801$42,816,549$38,260,640$44,509,613$45,419,006$42,799,443$43,843,675
Other changes in net assets or fund balances$-3,091,714$-778,088$-2,835,020$7,160,314$560,902$-1,711,271$49,871$-3,184,020
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$5,396,385$4,437,257$569,378$389,750
Grants paid from donor advised funds$32,250
Other grants and allocations$2,262,985
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$490,616$352,413$73,592$64,611
Compensation of former officers, directors, key employees, etc.$108,644$48,890$43,458$16,296
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$471,196$241,219$154,862$75,115
Pension plan contributions not included above$35,035$35,035$0$0
Employee benefits not included above$263,421$152,685$69,813$40,923
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$31,955$19,829$7,029$5,097
Legal fees$425,626$425,626$0$0
Supplies$7,352$3,458$2,248$1,646
Telephone$19,039$8,933$5,858$4,248
Postage and shipping$10,792$4,992$3,273$2,527
Occupancy$115,743$54,307$35,614$25,822
Equipment rental and maintenance$30,427$18,176$1,591$10,660
Printing and publications$50,388$18,599$15,536$16,253
Travel$15,017$7,539$4,335$3,143
Conferences, conventions, and meetings$8,342$3,867$2,536$1,939
Interest$68,944$68,944$0$0
Depreciation, depletion, etc.$38,845$17,748$11,639$9,458
Other expenses not covered above$909,768$659,762$137,994$112,012
Balance Sheets
20002001200220032004200520062007
Total assets$45,063,087$43,586,878$38,790,638$44,950,073$49,055,119$50,317,280$53,908,077$56,950,035
Cash - non-interest-bearing$0$0$0$0$0$0$0$0
Savings and temporary cash investments$108,609$182,918$109,931$50,148$112,234$155,134$247,932$374,044
Accounts receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$4,750,000$2,000,000$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$13,943$29,390$17,027$30,908$34,321$23,535$224,376$60,001
Investments - publicly-traded securities$52,354,026$55,457,096
Investments - other securities$39,439,139$40,689,434$37,904,848$44,084,214$48,132,850$49,252,284$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$134,179
Investments - other$259,173$314,607$371,226$408,931$476,098$536,001$588,092$632,044
Land, buildings, and equipment less accumulated depreciation$181,394$106,502$161,947$104,380$58,172$71,692$51,673$0
Other assets, including program-related investments$310,829$264,027$225,659$271,492$241,444$278,634$441,978$292,671
Total liabilities$1,090,286$770,329$529,998$440,460$3,636,113$7,517,837$10,064,402$12,329,432
Accounts payable and accrued expenses$775,932$476,164$264,773$181,885$270,708$451,494$382,793$656,338
Grants payable$0$0$265,225$0$0$0$0$0
Deferred revenue$314,354$294,165$0$258,575$250,647$239,207$218,133$189,418
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0$0
Other liabilities$0$0$0$0$3,114,758$6,827,136$9,463,476$11,483,676
Total liabilities and net assets/fund balances$45,063,087$43,586,878$38,790,638$44,950,073$49,055,119$50,317,280$53,908,077$56,950,035
Total net assets or fund balances$43,972,801$42,816,549$38,260,640$44,509,613$45,419,006$42,799,443$43,843,675$44,620,603
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$7,876,943$2,459,203$808,825$1,564,969$4,811,459$6,897,697$9,856,255$9,357,333
Total revenue, gains, and other support per audited financial statements$4,785,229$1,681,115$-2,026,192$8,725,283$5,547,095$4,870,179$7,196,485$5,479,234
Other expenses$0$-778,088$-2,835,020$7,160,314$2,417,196$11,474$1,897,386$0
Net unrealized gains on investments$0$0$0$7,160,314$2,417,196$11,474$1,897,386$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$-778,088$-2,835,020$0$0$0$0$0
Other revenue$3,091,714$0$0$0$1,681,560$2,038,992$4,557,156$3,878,099
Investment expenses$0$0$0$0$0$0$0$0
Other$3,091,714$0$0$0$1,681,560$2,038,992$4,557,156$3,878,099
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$3,019,189$2,837,367$2,529,717$2,476,310$4,462,968$7,805,989$8,861,894$5,396,385
Total expenses and losses per audited financial statements$3,019,189$2,837,367$2,529,717$2,476,310$4,336,068$7,489,742$6,152,253$4,712,772
Other revenue$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other expenses$0$0$0$0$126,900$316,247$2,709,641$683,613
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$126,900$316,247$2,709,641$683,613
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$311,384$2,894$0
40$160,316$16,022$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings7
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Former Officers, Directors, Trustees, and Key Employees That Received Compensation or Other Benefits
Loans and AdvancesCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
$0$108,644$0$0
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 200614
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$5,407,909$0
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$2,777,138$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$2,343,247$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$287,524$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$68,297$0$0
$86,211$0$0
$51,470$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?Yes
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
Enter the total number of donor advised funds owned at the end of the tax year$15
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$1,479,408
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
19992000200120022003200420052006
Total$5,919,403$7,876,943$2,459,203$2,914,690$2,795,871$4,838,614$6,416,870$9,614,746
Gifts, grants, and contributions received$1,125,746$644,464$934,972$1,321,284$1,808,367$3,696,623$4,345,054$7,040,319
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$4,629,350$6,758,014$1,289,545$1,362,551$954,047$1,128,725$2,050,302$2,351,007
Net income from unrelated business activities not included above$4,500$3,750$253$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$159,807$470,715$234,433$230,855$33,457$13,266$21,514$223,420
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Silicon Valley Community Foundation2440 West El Camino Real, Mountain View, CA 94040-1497CA2006-10$810,778,968
2The Rhode Island Community FoundationOne Union Station, Providence, RI 02903-1758RI1985-06$412,631,304
3Central Indiana Community Foundation Inc615 N Alabama St Ste 119, Indianapolis, IN 46204-1431IN1990-07$220,976,298
4Community Foundation For Southeast Michigan333 W Fort St Ste 2010, Detroit, MI 48226-3134MI1984-08$139,582,797
5Lutheran Community Foundation625 Fourth Avenue South, Minneapolis, MN 55415-1624MN1995-07$123,808,763
6Community Foundation For The Fox Valley Region IncPO BOX 563, Appleton, WI 54912-0563WI1986-08$116,893,046
7Jewish Community Foundation Of Metrowest901 Route 10, Whippany, NJ 07981-1156NJ1955-07$113,547,116
8Community First Foundation6870 W 52nd Ave Ste 103, Arvada, CO 80002-3952CO1975-06$73,158,037
9Jewish Community Foundation Of Colorado300 S Dahlia St Ste 300, Denver, CO 80246-8136CO2006-05$1,960,283
10Castle Rock High Noon Rotary FoundationPo Box 241, Castle Rock, CO 80104CO2006-06$37,499
11Pikes Peak Community Foundation730 N Nevada Ave, Colorado Spgs, CO 80903-1008CO1996-08$17,707,322
12Peak Vista Community Health Centers Foundation340 Printers Pkwy, Colorado Spgs, CO 80910-3190CO2006-01$3,221,266
13Lone Tree Foundation2905 W County Road 14, Loveland, CO 80537-9014CO2004-05$2,413,732
14Community Foundation Of The Gunnison ValleyPO BOX 7057, Gunnison, CO 81230-7057CO1999-08$1,264,926
15Community Foundation Serving Southwest ColoradoServing Soutwest Colorado 1309 E 3r, Durango, CO 81301CO1999-10$1,012,924
16Broomfield Community FoundationPO BOX 2040, Broomfield, CO 80038-2040CO1994-09$940,167
17Columbine Community Foundation For Grand County, Grand Foundation391 Elk Dale Dr, Tabernash, CO 80478CO1997-10$579,564
18Hyde Park Foundation-Diamonds In The Rough3000 E 1st Ave Ste 243, Denver, CO 80206-5650CO2000-08$221,689
19Riverfront Park Community Foundation1701 Wynkoop St 140, Denver, CO 80202CO2001-09$163,760
20Aurora Chamber Foundation Inc14305 E Alameda Ave Ste 300, Aurora, CO 80012-2550CO2001-08$159,540
21Jay Cutler Foundation8912 S Jimson Weed Way, Highlands Ranch, CO 80126CO2008-01$132,132
22Lamar Community College Foundation2401 S Main St, Lamar, CO 81052-3912CO1975-01$131,681
23Ascension Lutheran Church Foundation1701 W Caley Ave, Littleton, CO 80120-3109CO2001-12$106,356
24Rocky Mtn Court System IncPO BOX 46275, Denver, CO 80201-6275CO2000-03$99,107
25Friends Of The Aspen Sports And Recreation Complex, SparcPO BOX 1371, Aspen, CO 81612-1371CO2000-10$95,617
26Monument Hill FundPO BOX 102, Monument, CO 80132-0102CO2005-02$64,668
27Boulder Jewish Community Foundation3800 Kalmia Ave, Boulder, CO 80301-1827CO2007-03$57,587
28Rotary International, Denver Metro North Rotary ClubPO BOX 1401, Eastlake, CO 80614-1401CO1942-09$5,282
29Denver Justice Council Inc63 Jasmine Street, Denver, CO 80220CO2007-02$435
30Gillett Family Foundation950 Red Sandstone Road, Vail, CO 81657-4007CO2005-10$1
Number of organizations performing similar types of work
Alaska8
Alabama38
Arkansas16
Arizona42
California284
Colorado68
Connecticut47
District of Columbia17
Delaware5
Florida110
Georgia68
Hawaii14
Iowa83
Idaho14
Illinois105
Indiana71
Kansas47
Kentucky21
Louisiana22
Massachusetts69
Maryland68
Maine14
Michigan110
Minnesota55
Missouri41
Mississippi22
Montana35
North Carolina62
North Dakota8
Nebraska43
New Hampshire10
New Jersey77
New Mexico16
Nevada20
New York152
Ohio119
Oklahoma30
Oregon54
Pennsylvania109
Rhode Island20
South Carolina33
South Dakota8
Tennessee32
Texas162
Utah22
Virginia59
Vermont11
Washington61
Wisconsin74
West Virginia20
Wyoming9
International6
Total2,711

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