Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $229,497

• 1d · Related organizations

  $332,200

• 1f · All other contributions, gifts and grants

  $22,700,323

• 1g · Noncash contributions included above

  $450,370

• 3 · Investment income

  total $820,716 · excluded $820,716

• 7a · Gross sales of assets other than inventory

  securities $2,247,424

• 7b · Less cost or other basis and sales expenses

  securities $1,906,829

• 7c · Gain or loss

  securities $340,595

• 7d · Net gain or loss

  total $340,595 · excluded $340,595

• 8a · Fundraising events: gross income

  $502,177

• 8a · Fundraising events: contributions included on line 1c

  $229,497

• 8b · Fundraising events: direct expenses

  $334,761

• 8c · Net income from fundraising events

  total $167,416 · excluded $167,416

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $2,845,829 · program services $2,845,829

• 2 · Grants to domestic individuals

  total $186,855 · program services $186,855

• 5 · Compensation of officers, directors and key employees

  total $283,031 · management and general $56,606 · fundraising $226,425

• 7 · Other salaries and wages

  total $619,904 · management and general $74,020 · fundraising $545,884

• 8 · Pension plan contributions

  total $19,208 · management and general $2,169 · fundraising $17,039

• 9 · Other employee benefits

  total $128,592 · management and general $16,345 · fundraising $112,247

• 10 · Payroll taxes

  total $47,422 · management and general $5,660 · fundraising $41,762

• 11a · Fees: management

  total $91,575 · management and general $18,315 · fundraising $73,260

• 11b · Fees: legal

  total $649 · fundraising $649

• 11c · Fees: accounting

  total $24,255 · management and general $24,255

• 11f · Fees: investment management

  total $98,779 · management and general $98,779

• 11g · Fees: other

  total $36 · management and general $36

• 12 · Advertising and promotion

  total $3,098 · fundraising $3,098

• 13 · Office expenses

  total $5,818 · management and general $1,164 · fundraising $4,654

• 14 · Information technology

  total $55,685 · management and general $9,200 · fundraising $46,485

• 16 · Occupancy

  total $31,200 · management and general $31,200

• 17 · Travel

  total $4,937 · fundraising $4,937

• 19 · Conferences, conventions and meetings

  total $18,376 · management and general $9,188 · fundraising $9,188

• 23 · Insurance

  total $16,678 · management and general $16,678

• 24a · Other expenses: DONOR RELATIONS

  total $34,625 · fundraising $34,625

• 24b · Other expenses: DUES AND SUBSCRIPTIONS

  total $10,895 · management and general $5,448 · fundraising $5,447

• 24c · Other expenses: OTHER FUNDRAISING

  total $6,834 · fundraising $6,834

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $13,023,221 · end of year $13,130,215

• 3 · Pledges and grants receivable

  beginning of year $2,113,206 · end of year $12,680,472

• 4 · Accounts receivable

  beginning of year $196,579 · end of year $40,969

• 9 · Prepaid expenses and deferred charges

  beginning of year $7,367 · end of year $14,240

• 11 · Investments: publicly traded securities

  beginning of year $14,691,432 · end of year $27,754,364

• 17 · Accounts payable and accrued expenses

  beginning of year $100,648 · end of year $80,417

• 19 · Deferred revenue

  beginning of year $133,220 · end of year $151,814

• 25 · Other liabilities

  beginning of year $12,032,688 · end of year $13,814,563

• 27 · Net assets without donor restrictions

  beginning of year $3,788,826 · end of year $5,052,492

• 28 · Net assets with donor restrictions

  beginning of year $13,976,423 · end of year $34,520,974

The filer's explanations (Part III)

PART I, LINE 3

THE ORGANIZATION'S PRESIDENT, KENT RIDDLE, IS COMPENSATED BY A RELATED PARTY WHO USES A COMPENSATION COMMITTEE, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE COMPENSATION COMMITTEE TO DETERMINE HIS COMPENSATION.

PART I, LINE 4B

MARY FREE BED REHABILITATION HOSPITAL (MFB) MAINTAINS A SUPPLEMENTAL RETIREMENT PLAN (SERP) FOR A SELECT GROUP OF EXECUTIVES OF MFB AND ITS AFFILIATED ENTITIES. THIS SERP IS AN UNFUNDED, NONQUALIFIED DEFERRED COMPENSATION PLAN THAT IS INTENDED TO COMPLY WITH SECTION 457(F) OF THE INTERNAL REVENUE CODE. BENEFITS UNDER THIS SERP IS TAXABLE TO THE PARTICIPATING EXECUTIVES WHEN SUCH AMOUNTS ARE VESTED. KENT RIDDLE IS A PARTICIPANT OF THIS PLAN. THERE WERE NO SERP PAYMENTS DURING THE YEAR.

Related partnerships

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

• RHH-MFB HEALTH VENTURES LLC

  IN-HOME NURSING · MI

Related corporations and trusts

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

• MARY FREE BED REHABILITATION LLC

  C · PHYSICAL THERAPY · MI · controlled entity

• MARY FREE BED CONDOMINIUM ASSOCIATION

  C · CONDO MAINTENANCE · MI · controlled entity