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← MCC PARCEL B TITLE HOLDING CORPORATION

Form 990 for tax year 2024

Filed by MCC PARCEL B TITLE HOLDING CORPORATION.

Totals

Total revenue
-$249,818
Total expenses
$3,515
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$102,325
Other revenue
-$352,143
Total assets, end of year
$24,214,984
Total liabilities, end of year
$24,301,167
Net assets or fund balances, end of year
-$86,183
Program services expenses (Part IX)
$3,515
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$3,515

Program services were 100.0% 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.

  • 3 · Investment income

    total $102,325 · excluded $102,325

  • 6a · Gross rents

    real property $530,666

  • 6b · Less rental expenses

    real property $885,017

  • 6c · Rental income or loss

    real property -$354,351

  • 6d · Net rental income or loss

    total -$354,351 · related or exempt -$354,351

  • 11a · Other revenue: AUXILIARY REVENUE

    total $2,208 · excluded $2,208

  • 11e · Other revenue, total

    $2,208

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $48 · program services $48

  • 11c · Fees: accounting

    total $3,020 · program services $3,020

  • 13 · Office expenses

    total $447 · program services $447

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $101,260 · end of year $94,174

  • 9 · Prepaid expenses and deferred charges

    beginning of year $13,546 · end of year $48,951

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

    $15,496,175

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

    $1,723,825

  • 10c · Land, buildings and equipment, net

    beginning of year $14,341,325 · end of year $13,772,350

  • 14 · Intangible assets

    beginning of year $40,349 · end of year $39,165

  • 15 · Other assets

    beginning of year $10,392,446 · end of year $10,260,344

  • 19 · Deferred revenue

    beginning of year $13,546 · end of year $48,951

  • 23 · Secured mortgages and notes payable

    beginning of year $15,280,000 · end of year $15,280,000

  • 25 · Other liabilities

    beginning of year $9,428,230 · end of year $8,972,216

  • 27 · Net assets without donor restrictions

    beginning of year -$38,745 · end of year -$226,275

  • 28 · Net assets with donor restrictions

    beginning of year $205,895 · end of year $140,092

Mission and programs · 2024

Mission

THIS CORPORATION IS A FIXED ASSET HOLDING COMPANY WHICH OWNS PROPERTY THAT MICHIGAN COMMUNITY CAPITAL USED IN THE FULFILLMENT OF THEIR STATED MISSION.

  • OPERATIONS PERTAINING TO THE 51,000 SQUARE FOOT MIXED-USE FACILITY LOCATED IN MT. PLEASANT, MICHIGAN CONSISTING OF AFFORDABLE HOUSING, A CO-OP GROCERY STORE, AND RELATED COMMERCIAL / RETAIL AMENITIES.

    Expenses $3,515

As filed on the 2024 return.

Listed in Part VII

  • ERIC HANNA

    PRESIDENT/BOARD MEMBER

    Total calculated
    $304,885
    From this org
    $0
    From related orgs
    $265,619
    Other
    $39,266
    Hours/week
    1.5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $265,619 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $17,578 related
    Nontaxable benefits
    $0 + $21,688 related
    Filer's total
    $0 + $304,885 related

  • MARK MORANTE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • DANIEL LYNCH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 3
PRESIDENT IS COMPENSATED BY A RELATED ORGANIZATION, MICHIGAN COMMUNITY CAPITAL

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.

Provenance

Return type
form_990
Tax year
2024
Filed
3 November 2025
IRS schema version
2024v5.2
Source object
202513089349301311

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