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Nonprofiteer
← FAMCO

Form 990 for tax year 2022

Filed by FAMCO.

Totals

Total revenue
$9,943,698
Total expenses
$209,636
Contributions and grants received
$146,796
Grants paid
$0
Program service revenue
$9,845
Investment income
$9,787,057
Other revenue
$0
Total assets, end of year
$17,939,134
Total liabilities, end of year
$464,700
Net assets or fund balances, end of year
$17,474,434
Program services expenses (Part IX)
$62,840
Management and general expenses
$146,796
Fundraising expenses
$0
Program service expenses (Part III)
$62,840

Program services were 30.0% 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.

  • 1d · Related organizations

    $146,796

  • 1g · Noncash contributions included above

    $146,796

  • 2a · Program service revenue: RENTAL INCOME, NET

    total $9,845 · related or exempt $9,845

  • 3 · Investment income

    total $325,926 · excluded $325,926

  • 7a · Gross sales of assets other than inventory

    other assets $12,275,000

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

    other assets $2,813,869

  • 7c · Gain or loss

    other assets $9,461,131

  • 7d · Net gain or loss

    total $9,461,131 · related or exempt $9,461,131

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $139,294 · management and general $139,294

  • 10 · Payroll taxes

    total $7,502 · management and general $7,502

  • 11c · Fees: accounting

    total $6,300 · program services $6,300

  • 13 · Office expenses

    total $15,456 · program services $15,456

  • 16 · Occupancy

    total $19,857 · program services $19,857

  • 17 · Travel

    total $421 · program services $421

  • 22 · Depreciation, depletion and amortization

    total $19,607 · program services $19,607

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $1,199 · program services $1,199

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $588,688 · end of year $521,039

  • 2 · Savings and temporary cash investments

    beginning of year $5,235,389 · end of year $16,956,578

  • 5 · Loans and receivables from officers and key people

    beginning of year $460,000 · end of year $460,000

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $2,460,144

  • 15 · Other assets

    beginning of year $1,517 · end of year $1,517

  • 17 · Accounts payable and accrued expenses

    beginning of year $29,370

  • 25 · Other liabilities

    beginning of year $867,900 · end of year $464,700

  • 27 · Net assets without donor restrictions

    beginning of year $7,848,468 · end of year $17,474,434

Mission and programs · 2022

Mission

TO HOLD AND MAINTAIN PROPERTIES FOR THE EXCLUSIVE BENEFIT OF PARK BIXBY TOWER, INC., A RELATED NON-PROFIT RELIGIOUS CORPORATION

Activities or mission (Part I)

FAMCO WAS ESTABLISHED PERSUANT TO FREDDIEMAC REGULATIONS AS A SEPARATE ENTITY TO HOLD REAL ESTATE PROPERTIES FOR THE EXCLUSIVE BENEFIT OF PARK BIXBY TOWER, INC.

  • FAMCO HOLDS PROPERTIES ON BEHALF OF PARK BIXBY TOWER, INC., A RELATED ORGANIZATION.

    Expenses $62,840 · Revenue $9,470,976

As filed on the 2022 return.

Listed in Part VII

  • Lois Richey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mark Dunn

    DIRECTOR

    Total calculated
    $9,874
    From this org
    $0
    From related orgs
    $9,874
    Other
    $0
    Hours/week
    1 + 10 related

  • Matthew Wylie

    TREASURER AND DIRECTOR

    Total calculated
    $6,000
    From this org
    $0
    From related orgs
    $6,000
    Other
    $0
    Hours/week
    1 + 10 related

  • Michael Wylie

    PRESIDENT AND CEO AND DIRECTOR

    Total calculated
    $442,064
    From this org
    $0
    From related orgs
    $398,951
    Other
    $43,113
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $174,951 related
    Bonus
    $0 + $224,000 related
    Other
    $0
    Deferred
    $0 + $31,981 related
    Nontaxable benefits
    $0 + $11,132 related
    Filer's total
    $0 + $442,064 related

  • Russell Wylie

    CHAIR, BOARD OF DIRECTORS

    Total calculated
    $224,832
    From this org
    $0
    From related orgs
    $180,726
    Other
    $44,106
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $180,726 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $32,252 related
    Nontaxable benefits
    $0 + $11,854 related
    Filer's total
    $0 + $224,832 related

  • Michael Willcoxon

    SECRETARY AND DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Thaddeus Wojcik

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Lora Kermode Wylie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • William Haley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

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
  • 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.

Provenance

Return type
form_990
Tax year
2022
Filed
15 February 2024
IRS schema version
2022v5.0
Source object
202440469349300034

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