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← MARYGROVE CONSERVANCY

Form 990 for tax year 2022

Filed by MARYGROVE CONSERVANCY.

Totals

Total revenue
$4,577,465
Total expenses
$6,972,679
Contributions and grants received
$3,820,698
Grants paid
$0
Program service revenue
$0
Investment income
$15,214
Other revenue
$741,553
Total assets, end of year
$102,325,216
Total liabilities, end of year
$93,037,862
Net assets or fund balances, end of year
$9,287,354
Program services expenses (Part IX)
$5,899,845
Management and general expenses
$836,433
Fundraising expenses
$236,401
Program service expenses (Part III)
$5,899,845

Program services were 84.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $295,000

  • 1f · All other contributions, gifts and grants

    $3,525,698

  • 3 · Investment income

    total $15,214 · excluded $15,214

  • 6a · Gross rents

    real property $507,253

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $507,253

  • 6d · Net rental income or loss

    total $507,253 · related or exempt $507,253

  • 11a · Other revenue: TENANT REIMBURSEMENTS

    total $145,820 · related or exempt $145,820

  • 11d · All other revenue

    total $88,480 · related or exempt $88,480

  • 11e · Other revenue, total

    $234,300

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $563,385 · program services $309,862 · management and general $225,354 · fundraising $28,169

  • 7 · Other salaries and wages

    total $109,460 · program services $60,203 · management and general $43,784 · fundraising $5,473

  • 9 · Other employee benefits

    total $56,730 · program services $31,201 · management and general $22,692 · fundraising $2,837

  • 10 · Payroll taxes

    total $43,942 · program services $24,168 · management and general $17,577 · fundraising $2,197

  • 11a · Fees: management

    total $300,725 · program services $120,290 · management and general $150,363 · fundraising $30,072

  • 11b · Fees: legal

    total $72,340 · program services $28,936 · management and general $36,170 · fundraising $7,234

  • 11c · Fees: accounting

    total $90,038 · program services $36,015 · management and general $45,019 · fundraising $9,004

  • 11g · Fees: other

    total $316,222 · program services $126,489 · management and general $158,111 · fundraising $31,622

  • 12 · Advertising and promotion

    total $9,628 · program services $3,851 · management and general $4,814 · fundraising $963

  • 13 · Office expenses

    total $153,302 · program services $114,977 · management and general $19,929 · fundraising $18,396

  • 14 · Information technology

    total $26,564 · program services $10,626 · management and general $13,282 · fundraising $2,656

  • 16 · Occupancy

    total $508,999 · program services $508,999

  • 20 · Interest

    total $2,086,432 · program services $2,086,432

  • 22 · Depreciation, depletion and amortization

    total $840,000 · program services $840,000

  • 23 · Insurance

    total $156,297 · program services $132,852 · management and general $12,504 · fundraising $10,941

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $775,828 · program services $775,828

  • 24b · Other expenses: EVENT EXPENSES

    total $328,741 · program services $328,741

  • 24c · Other expenses: SECURITY

    total $243,657 · program services $243,657

  • 24d · Other expenses: TAX CREDIT FEES

    total $150,593 · program services $60,237 · management and general $45,178 · fundraising $45,178

  • 24e · All other expenses

    total $139,796 · program services $56,481 · management and general $41,656 · fundraising $41,659

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,167,756 · end of year $2,624,821

  • 2 · Savings and temporary cash investments

    beginning of year $2,583,904 · end of year $109,158

  • 3 · Pledges and grants receivable

    beginning of year $306,500 · end of year $2,030,175

  • 4 · Accounts receivable

    beginning of year $278,860 · end of year $683,245

  • 7 · Other notes and loans receivable

    end of year $10,384,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $132,603 · end of year $159,983

  • 10a · Land, buildings and equipment: cost or other basis

    $34,985,401

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,417,803

  • 10c · Land, buildings and equipment, net

    beginning of year $35,693,464 · end of year $32,567,598

  • 15 · Other assets

    beginning of year $28,927,545 · end of year $53,766,236

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,982,941 · end of year $12,045,004

  • 19 · Deferred revenue

    beginning of year $19,709 · end of year $173,058

  • 23 · Secured mortgages and notes payable

    beginning of year $54,399,384 · end of year $80,807,970

  • 25 · Other liabilities

    beginning of year $6,030 · end of year $11,830

  • 27 · Net assets without donor restrictions

    beginning of year $9,760,977 · end of year $5,762,412

  • 28 · Net assets with donor restrictions

    beginning of year $1,921,591 · end of year $3,524,942

Mission and programs · 2022

Mission

TO RECEIVE AND ADMINISTER FUNDS AND PROPERTY AND TO OPERATE EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, SCIENTIFIC, AND LITERARY PURPOSES, AS WELL AS TO PRESERVE THE LEGACY OF MARYGROVE COLLEGE THROUGH THE ADVANCEMENT OF EDUCATIONAL OPPORTUNITIES FOR CHILDREN AND FAMILIES, PARTICULARLY WITHIN THE LIVERNOIS AND MCNICHOLS CORRIDORS OF DETROIT, MICHIGAN, BY PROVIDING SPACE, INFRASTRUCTURE, AND OTHER ASSISTANCE TO SUPPORT INTEGRATED P-20 EDUCATION MODELS THAT PROVIDE COMPREHENSIVE SUPPORT FROM PRE-NATAL THROUGH COLLEGE TO CAREER AND OTHER COMMUNITY-BASED ACTIVITIES AND PROGRAMMING.

Activities or mission (Part I)

TO PRESERVE THE LEGACY OF MARYGROVE COLLEGE THROUGH THE ADVANCEMENT OF INTEGRATED P-20 EDUCATIONAL OPPORTUNITIES FOR LOW-INCOME CHILDREN AND FAMILIES, PARTICULARLY WITHIN THE LIVERNOIS AND MCNICHOLS CORRIDORS OF DETROIT, MICHIGAN.

  • OPERATION OF PROPERTY, INCLUDING THE LIBERAL ARTS BUILDING, THE MADAME CADILLAC BUILDING, THE FLORENT GILLET HALL BUILDING, THE POWER HOUSE BUILDING, THE STUDENT CENTER BUILDING, AND THE HARTMAN HALL BUILDING, HELD AS PART OF THE MARYGROVE COLLEGE LEGACY

    Expenses $5,899,845 · Revenue $741,553

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Sr Mary Jane Herb

    CHAIR

    Total calculated
    $0
    Hours/week
    5 + 1 related

  • Aaron Seybert

    TREASURER

    Total calculated
    $0
    Hours/week
    10 + 1 related

  • Glenda Price

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth A Burns

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Rose Desloover

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James Feagin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Forsyth

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Antoine Garibaldi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Wendy Lewis Jackson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tom Lewand

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $412,923
    From this org
    $412,923
    From related orgs
    $0
    Other
    $0
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $412,923
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $412,923

  • Racheal Allen

    CHIEF OPERATING OFFICER

    Total calculated
    $150,462
    From this org
    $150,462
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,462
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $150,462

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • MARYGROVE LA OWNER LLC

    RELATED · REAL ESTATE RENTAL · MI · 100% owned · share of income -$2,233,981 · share of assets $44,795,060 · general or managing partner

    Directly controlled by MARYGROVE CONSERVANCY

  • MARYGROVE IM OWNER LLC

    RELATED · REAL ESTATE RENTAL · MI · 100% owned · share of income -$426,726 · share of assets $6,547,737 · general or managing partner

    Directly controlled by MARYGROVE CONSERVANCY

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • MARYGROVE MM LLC

    C · REAL ESTATE INVESTMENT · MI · 100% owned · share of income -$2,660,707 · share of assets $49,877,045

    Directly controlled by MARYGROVE CONSERVANCY

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202323199349301652

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