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Flagstar Foundation Inc. is a private corporation based in TROY, MI. The foundation received its IRS ruling in 2017. The principal officer is Flagstar Bank F S B. It holds total assets of $19M. Annual income is reported at $1.4M. Total assets have grown from $1.7M in 2019 to $21.4M in 2023. The foundation is governed by 10 officers and trustees. The foundation operates in the area of philanthropy & grantmaking. According to its most recent filing, the foundation only makes contributions to preselected charitable organizations. Tax records are available from 2020 to 2023. The foundation primarily funds organizations in Michigan and Indiana. According to available records, Flagstar Foundation Inc. has made 424 grants totaling $10.2M, with a median grant of $5K. Annual giving has decreased from $3.4M in 2021 to $2.3M in 2023. Grantmaking activity was highest in 2022 with $4.4M distributed across 194 grants. Individual grants have ranged from $350 to $700K, with an average award of $24K. The foundation has supported 263 unique organizations. The foundation primarily supports organizations in Michigan, New York, Indiana, which account for 72% of all grants. Grantmaking reaches organizations across 20 states. Contributions to this foundation are tax-deductible.
Smallest Grant
$500
Median Grant
$5K
Average Grant
$20K
Largest Grant
$500K
Based on 112 grants from the most recent 990-PF filing.
No program descriptions are available for this foundation. Many private foundations report program activities in their annual 990-PF filings — check the Tax Filings section below for the most recent filing.
Flagstar Foundation Inc. primarily funds organizations in the area of philanthropy & grantmaking. Based on available records, the foundation has funded 424 grants. Its grantmaking reaches organizations primarily in MI, NY, IN.
Flagstar Foundation Inc. has distributed a total of $10.2M across 424 grants. The median grant size is $5K, with an average of $24K. Individual grants have ranged from $350 to $700K.
Flagstar Foundation Inc. typically selects its grantees rather than accepting unsolicited proposals. The application deadline is SEE APPLICATION. See application.
Flagstar Foundation Inc. is headquartered in TROY, MI. While based in MI, the foundation distributes grants to organizations across 20 states.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Elizabeth Correa | MANAGING DIRECTOR | $0 | $0 | N/A |
| Paula Borja | SECRETARY | $0 | $0 | N/A |
| Laurie Mcpeck | TREASURER | $0 | $0 | N/A |
| Gary Wolf | TRUSTEE | $0 | $0 | N/A |
| Donna Krall | TRUSTEE | $0 | $0 | N/A |
| Mike Doyle | TRUSTEE | $0 | $0 | N/A |
| Sonia Plata | PRESIDENT | $0 | $0 | N/A |
| Reggie Davis | TRUSTEE | $0 | $0 | N/A |
| David Hollis | TRUSTEE | $0 | $0 | N/A |
| Jennifer Charters | TRUSTEE | $0 | $0 | N/A |
Total Giving
$2.8M
Total Assets
$21.4M
Fair Market Value
$21.4M
Net Worth
$20.6M
Grants Paid
$2.3M
Contributions
$461K
Net Investment Income
$704K
Distribution Amount
$1.1M
Total: N/A
Total Grants
424
Total Giving
$10.2M
Average Grant
$24K
Median Grant
$5K
Unique Recipients
263
Most Common Grant
$5K
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Invest DetroitSUPPORT STRATEGTIC NEIGHBORHOOD | Detroit, MI | $500K | 2023 |
| Local Initiatives Support Corp (Lisc)SUPPORT AFFORDABLE HOUSING | New York, NY | $500K | 2023 |
| Community Foundation For Se MichiganSUPPORT PONTIAC FUNDERS | Detroit, MI | $100K | 2023 |
| America'S CharitiesEAF FUND | Chantilly, VA | $50K | 2023 |
| Black United Fund Of MichiganARTS CULTURE | Detroit, MI | $30K | 2023 |
| The Soup Kitchen IncWORKFORCE READINESS | Boynton Beach, FL | $26K | 2023 |
| A New Leaf IncFINANCIAL CAPABILITY | Mesa, AZ | $26K | 2023 |
| Center For Hearing And CommunicationWORKFORCE READINESS | New York, NY | $26K | 2023 |
| Enterprise Community Partners IncWORKFORCE READINESS | Columbia, MD | $25K | 2023 |
| 826 MichiganARTS AND CULTURE | Ann Arbor, MI | $25K | 2023 |
| Pathways Of Prosperity IncWORKFORCE READINESS | Boynton Beach, FL | $25K | 2023 |
| Housing Partnership IncFINANCIAL CAPABILITY | Riviera Beach, FL | $25K | 2023 |
| The Children'S Musuem Of ClevelandARTS AND CULTURE | Cleveland, OH | $25K | 2023 |
| Dutton Farm IncWORKFORCE READINESS | Rochester, MI | $25K | 2023 |
| Services To Enhance PotentialWORKFORCE READINESS | Dearborn, MI | $25K | 2023 |
| SpacesARTS AND CULTURE | Cleveland, OH | $25K | 2023 |
| Miami Rescue Mission Broward Outreach Centers IncWORKFORCE READINESS | Miami, FL | $25K | 2023 |
| Young Mens Christian Association Of South Florida IncARTS AND CULTURE | Fort Lauderdale, FL | $25K | 2023 |
| Center For Independent Living Broward IncFINANCIAL CAPABILITY | Lauderdale Lakes, FL | $25K | 2023 |
| Detroit Historical SocietyARTS AND CULTURE | Detroit, MI | $25K | 2023 |
| SamritasWORKFORCE READINESS | Detroit, MI | $25K | 2023 |
| Wayne - Metro Community Action AgencyFINANCIAL CAPABILITY | Detroit, MI | $25K | 2023 |
| Arizona Center For The Blind And Visually ImpairedWORKFORCE READINESS | Phoenix, AZ | $25K | 2023 |
| Near West Side Multi Service CorpWORKFORCE READINESS | Cleveland, OH | $25K | 2023 |
| Spanish American Committee For Better CommunityWORKFORCE READINESS | Cleveland, OH | $25K | 2023 |
| Hispanic Unity Of Florida IncFINANCIAL CAPABILITY | Hollywood, FL | $25K | 2023 |
| Community Access Center IncFINANCIAL CAPABILITY | Miramar, FL | $25K | 2023 |
| Corporate Source IncWORKFORCE READINESS | Garden City, NY | $25K | 2023 |
| Sos Children'S Village Florida IncWORKFORCE READINESS | Coconut Creek, FL | $20K | 2023 |
| Saugatuck Center For The Arts IncARTS AND CULTURE | Saugatuck, MI | $20K | 2023 |
| Mesa United Way IncFINANCIAL CAPABILITY - VITA | Mesa, AZ | $20K | 2023 |
| Fort Wayne Dance Collective IncARTS AND CULTURE | Fort Wayne, IN | $20K | 2023 |
| Community Action AgencyFINANCIAL CAPABILITY - VITA | Jackson, MI | $20K | 2023 |
| Honeywell Foundation IncARTS AND CULTURE | Wabash, IN | $20K | 2023 |
| Young At Art Of Broward IncARTS AND CULTURE | Plantation, FL | $20K | 2023 |
| The Russell Life Skills And Reading Foundation IncARTS AND CULTURE | Plantation, FL | $20K | 2023 |
| Seeds For AutismWORKFORCE READINESS | Phoenix, AZ | $15K | 2023 |
| United Way Of Allen County IncFINANCIAL CAPABILITY - VITA | Fort Wayne, IN | $15K | 2023 |
| American Red Cross-Michigan RegionDISASTER SUPPORT | Detroit, MI | $15K | 2023 |
| Catholic Charities Of The Diocese Of Fort WayneFINANCIAL CAPABILITY - VITA | Fort Wayne, IN | $15K | 2023 |
| Logan Community Resources IncWORKFORCE READINESS | South Bend, IN | $15K | 2023 |
| The Village A Community Musical Arts Alliance IncARTS AND CULTURE | South Bend, IN | $15K | 2023 |
| Chicanos Por La Causa IncWORKFORCE READINESS | Phoenix, AZ | $10K | 2023 |
| Child And Family Services Of MichiganBOARD SUPPORT AND ERG | Jackson, MI | $10K | 2023 |
| Catjolic Charities Community Services IncARTS AND CULTURE | Phoenix, AZ | $10K | 2023 |
| Rosie'S House A Music Academy For Children IncARTS AND CULTURE | Phoenix, AZ | $10K | 2023 |
| Boys And Girls Club Of Fort Wayne IncARTS AND CULTURE | Fort Wayne, IN | $10K | 2023 |
| Boys Hope Girls HopeBOARD SUPPORT | Detroit, MI | $10K | 2023 |
| Salvation Army Kroc CenterARTS AND CULTURE | Rancho, CA | $10K | 2023 |