Skip to content
Nonprofiteer
← MIDLAND AREA COMMUNITY FOUNDATION

Form 990 for tax year 2023

Filed by MIDLAND AREA COMMUNITY FOUNDATION.

Totals

Total revenue
$13,513,786
Total expenses
$12,575,682
Contributions and grants received
$6,837,345
Grants paid
$5,788,981
Program service revenue
$0
Investment income
$6,641,449
Other revenue
$34,992
Total assets, end of year
$125,987,299
Total liabilities, end of year
$3,653,482
Net assets or fund balances, end of year
$122,333,817
Program services expenses (Part IX)
$11,041,123
Management and general expenses
$1,150,831
Fundraising expenses
$383,728
Program service expenses (Part III)
$11,041,123

Program services were 87.8% 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.

  • 1f · All other contributions, gifts and grants

    $6,837,345

  • 1g · Noncash contributions included above

    $849,242

  • 3 · Investment income

    total $2,675,267 · excluded $2,675,267

  • 7a · Gross sales of assets other than inventory

    securities $7,440,000

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

    securities $3,473,818

  • 7c · Gain or loss

    securities $3,966,182

  • 7d · Net gain or loss

    total $3,966,182 · excluded $3,966,182

  • 11a · Other revenue: 81-4832431 DAVIS LODG. VII

    total $34,992 · unrelated business $34,992

  • 11e · Other revenue, total

    $34,992

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,992,121 · program services $4,992,121

  • 2 · Grants to domestic individuals

    total $796,860 · program services $796,860

  • 5 · Compensation of officers, directors and key employees

    total $325,501 · program services $69,703 · management and general $106,617 · fundraising $149,181

  • 7 · Other salaries and wages

    total $592,142 · program services $212,719 · management and general $288,796 · fundraising $90,627

  • 8 · Pension plan contributions

    total $38,615 · program services $12,544 · management and general $16,014 · fundraising $10,057

  • 9 · Other employee benefits

    total $79,089 · program services $22,768 · management and general $38,129 · fundraising $18,192

  • 10 · Payroll taxes

    total $65,580 · program services $19,674 · management and general $30,167 · fundraising $15,739

  • 11b · Fees: legal

    total $13,200 · program services $1,320 · management and general $10,560 · fundraising $1,320

  • 11c · Fees: accounting

    total $21,282 · management and general $21,282

  • 11f · Fees: investment management

    total $129,107 · management and general $129,107

  • 11g · Fees: other

    total $140,344 · management and general $140,344

  • 12 · Advertising and promotion

    total $58,927 · program services $14,731 · management and general $29,464 · fundraising $14,732

  • 13 · Office expenses

    total $27,317 · program services $4,782 · management and general $17,751 · fundraising $4,784

  • 16 · Occupancy

    total $62,446 · management and general $62,446

  • 17 · Travel

    total $14,073 · program services $2,815 · management and general $11,258

  • 19 · Conferences, conventions and meetings

    total $23,580 · program services $5,895 · management and general $17,685

  • 22 · Depreciation, depletion and amortization

    total $35,889 · management and general $35,889

  • 23 · Insurance

    total $32,683 · management and general $32,683

  • 24a · Other expenses: PROJECT EXPENSES

    total $4,871,261 · program services $4,871,261

  • 24b · Other expenses: EQUIPMENT & MAINT

    total $85,319 · management and general $85,319

  • 24c · Other expenses: DEVELOPMENT

    total $78,456 · fundraising $78,456

  • 24d · Other expenses: MISCELLANEOUS

    total $28,883 · management and general $28,883

  • 24e · All other expenses

    total $63,007 · program services $13,930 · management and general $48,437 · fundraising $640

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $2,274,737 · end of year $2,451,563

  • 9 · Prepaid expenses and deferred charges

    beginning of year $426,553 · end of year $674,731

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

    $1,821,097

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

    $624,129

  • 10c · Land, buildings and equipment, net

    beginning of year $1,188,296 · end of year $1,196,968

  • 11 · Investments: publicly traded securities

    beginning of year $111,006,116 · end of year $121,664,037

  • 17 · Accounts payable and accrued expenses

    beginning of year $116,735 · end of year $103,369

  • 18 · Grants payable

    beginning of year $28,400 · end of year $103,635

  • 25 · Other liabilities

    beginning of year $2,847,314 · end of year $3,446,478

  • 27 · Net assets without donor restrictions

    beginning of year $109,930,618 · end of year $120,187,333

  • 28 · Net assets with donor restrictions

    beginning of year $1,972,635 · end of year $2,146,484

Mission and programs · 2023

Mission

OUR MISSION IS TO PROVIDE PHILANTHROPIC LEADERSHIP TO STRENGTHEN OUR COMMUNITY BY FOSTERING COLLABORATION AND GIVING TODAY AND IN THE FUTURE. SINCE 1973, MIDLAND AREA COMMUNITY FOUNDATION HAS PROVIDED AN AVENUE FOR INDIVIDUALS AND ORGANIZATIONS TO CHANGE THE COMMUNITY THROUGH PHILANTHROPIC GIVING. MACF AWARDS GRANTS AND SCHOLARSHIPS, OFFERS THE ABILITY FOR INDIVIDUALS AND FAMILIES TO INVEST IN THE COMMUNITY, AND SERVES AS A CATALYST FOR COLLABORATION AND CHANGE BY LEADING COMMUNITY DIALOGUE AND ACTION ON CRITICAL ISSUES.

  • DEVELOPING OUR TALENT (TALENT, EDUCATION, YOUTH DEVELOPMENT, AND ENGAGEMENT) - THE LOCAL AREA OFFERS HIGH QUALITY EDUCATION AND LEARNING OPPORTUNITIES THROUGHOUT LIFE, AND THE COMMUNITY NURTURES A SKILLED WORKFORCE AND PLACES HIGH VALUE ON POST-SECONDARY LEARNING. THE FOUNDATION PROVIDES OPPORTUNITIES FOR CHILDREN AND YOUTH TO REALIZE THEIR HOPES AND DREAMS.

    Expenses $1,972,249 · Grants $1,545,678

  • ENRICHING OUR COMMUNITY (ARTS, CULTURE, ENTERTAINMENT, RECREATION, DIVERSITY, COMMUNITY LEADERSHIP, AND ENVIRONMENT) - THE LOCAL AREA IS A VIBRANT HUB OF ARTS, CULTURE, ENTERTAINMENT AND RECREATIONAL OPPORTUNITIES. THE FOUNDATION IS COMMITTED TO EQUALITY AND INCLUSION, AND WELCOMES, EMBRACES, AND ACCEPTS ALL PEOPLE. THE LOCAL AREA IS A SUSTAINABLE COMMUNITY THAT VALUES AND PROTECTS ITS NATURAL RESOURCES.

    Expenses $4,912,370 · Grants $998,424

  • CARING FOR OUR PEOPLE (HUMAN SERVICES, SOCIAL SERVICES, POVERTY,HOUSING, MENTAL AND PHYSICAL HEALTH, AND PUBLIC SAFETY) - THE LOCAL COMMUNITY PROVIDES A COORDINATED AND COMPREHENSIVE SYSTEM OF SUPPORTIVE HEALTH AND HUMAN SERVICES SO THAT ALL MAY THRIVE. THE FOUNDATION ENCOURAGES SELF- SUFFICIENCY AND ACCEPTS ITS RESPONSIBILITY TO COLLABORATE TO CREATE THE SAFEST COMMUNITY IN THE COUNTRY.

    Expenses $2,895,102 · Grants $2,046,771

  • BUILDING OUR LIVELIHOOD (ECONOMIC DEVELOPMENT AND INFRASTRUCTURE) - THE LOCAL AREA CREATES AND SUSTAINS COMPETITIVE ADVANTAGES FOR EXISTING AND FUTURE BUSINESSES. THE FOUNDATION IS WELL-CONNECTED AND INVESTS IN PHYSICAL AND TECHNOLOGICAL INFRASTRUCTURE.

    Expenses $1,261,402 · Grants $1,198,109

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Sharon Mortensen

    PRESIDENT/CE

    Total calculated
    $220,014
    From this org
    $196,441
    From related orgs
    $0
    Other
    $23,573
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $196,441
    Bonus
    not reported
    Other
    not reported
    Deferred
    $8,092
    Nontaxable benefits
    $15,481
    Filer's total
    $220,014

  • Kyle Fahrner

    CFO

    Total calculated
    $141,306
    From this org
    $129,060
    From related orgs
    $0
    Other
    $12,246
    Hours/week
    40

  • William Garchow

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Ann Holmon

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Katie Horning

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jon Lynch

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dave Marsh

    FORMER BOARD

    Total calculated
    $0
    Hours/week
    1

  • Lou Mencia

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Carol Miller

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Grant Murschel

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mwemba Mwemba

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dick Peterson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jeff Provenzano

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Geraldine Reado

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael Rogers

    CHAIR

    Total calculated
    $0
    Hours/week
    4

  • Deborah Stephens

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mike Weideman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

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

  • 3 · Compensation committee
  • 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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
15 April 2024
IRS schema version
2023v5.0
Source object
202411149349301676

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.