Totals
- Total revenue
- $4,447,895
- Total expenses
- $6,040,435
- Contributions and grants received
- $1,440,795
- Grants paid
- $0
- Program service revenue
- $3,944,254
- Investment income
- -$1,012,745
- Other revenue
- $75,591
- Total assets, end of year
- $77,994,723
- Total liabilities, end of year
- $60,312,769
- Net assets or fund balances, end of year
- $17,681,954
- Program services expenses (Part IX)
- $5,610,523
- Management and general expenses
- $429,912
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $5,610,523
Program services were 92.9% 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.
-
1e · Government grants (contributions)
$752,079
-
1f · All other contributions, gifts and grants
$688,716
-
2a · Program service revenue: NMTC SUBALLOCATION FEE
total $1,941,750 · related or exempt $1,941,750
-
2b · Program service revenue: RELATED PARTY RENTAL
total $1,154,918 · related or exempt $1,154,918
-
2c · Program service revenue: ASSET MANAGEMENT FEE
total $696,631 · related or exempt $696,631
-
2d · Program service revenue: AUDIT & TAX REVENUE
total $150,955 · related or exempt $150,955
-
3 · Investment income
total $197,957 · related or exempt $195,197 · excluded $2,760
-
7a · Gross sales of assets other than inventory
other assets $3,912,800
-
7b · Less cost or other basis and sales expenses
other assets $5,123,502
-
7c · Gain or loss
other assets -$1,210,702
-
7d · Net gain or loss
total -$1,210,702 · excluded -$1,210,702
-
11a · Other revenue: PROPERTY MGMT FEES
total $75,591 · related or exempt $75,591
-
11e · Other revenue, total
$75,591
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $1,591,647 · program services $1,432,482 · management and general $159,165
-
8 · Pension plan contributions
total $87,619 · program services $78,857 · management and general $8,762
-
9 · Other employee benefits
total $146,211 · program services $131,590 · management and general $14,621
-
10 · Payroll taxes
total $129,154 · program services $116,239 · management and general $12,915
-
11b · Fees: legal
total $129,561 · program services $110,127 · management and general $19,434
-
11c · Fees: accounting
total $119,537 · program services $107,583 · management and general $11,954
-
11g · Fees: other
total $1,137,110 · program services $1,137,110
-
13 · Office expenses
total $196,303 · management and general $196,303
-
16 · Occupancy
total $662,119 · program services $662,119
-
17 · Travel
total $58,206 · program services $52,385 · management and general $5,821
-
19 · Conferences, conventions and meetings
total $9,366 · program services $8,429 · management and general $937
-
20 · Interest
total $643,267 · program services $643,267
-
22 · Depreciation, depletion and amortization
total $1,043,849 · program services $1,043,849
-
23 · Insurance
total $85,501 · program services $85,501
-
24a · Other expenses: ANNUAL REPORTS
total $985 · program services $985
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,170,463 · end of year $1,017,770
-
2 · Savings and temporary cash investments
beginning of year $2,000,082 · end of year $702,807
-
4 · Accounts receivable
beginning of year $930,506 · end of year $1,005,405
-
7 · Other notes and loans receivable
beginning of year $12,905,031 · end of year $10,759,763
-
9 · Prepaid expenses and deferred charges
beginning of year $167,138 · end of year $209,443
-
10a · Land, buildings and equipment: cost or other basis
$39,244,277
-
10b · Land, buildings and equipment: accumulated depreciation
$1,775,439
-
10c · Land, buildings and equipment, net
beginning of year $23,996,483 · end of year $37,468,838
-
11 · Investments: publicly traded securities
beginning of year $2,270,817 · end of year $2,052,768
-
12 · Investments: other securities
beginning of year $10,969 · end of year $16,249
-
13 · Investments: program-related
beginning of year $15,489,164 · end of year $17,631,585
-
15 · Other assets
beginning of year $2,238,814 · end of year $7,130,095
-
17 · Accounts payable and accrued expenses
beginning of year $3,198,278 · end of year $132,377
-
19 · Deferred revenue
beginning of year $86,155 · end of year $119,174
-
23 · Secured mortgages and notes payable
beginning of year $39,866,553 · end of year $44,364,223
-
25 · Other liabilities
beginning of year $3,169,045 · end of year $15,696,995
-
27 · Net assets without donor restrictions
beginning of year $13,975,207 · end of year $14,907,517
-
28 · Net assets with donor restrictions
beginning of year $1,884,229 · end of year $2,774,437
Mission and programs · 2022
Mission
THE MISSION OF MICHIGAN COMMUNITY CAPITAL IS TO FACILITATE LOW-INCOME COMMUNITY INVESTMENT IN MICHIGAN. THESE INVESTMENTS WILL SPUR JOB CREATION AND ECONOMIC GROWTH IN LOW INCOME COMMUNITIES ACROSS THE STATE.
Activities or mission (Part I)
THE MISSION OF MICHIGAN COMMUNITY CAPITAL IS TO PROVIDE LOW-COST, FLEXIBLE FINANCIAL PRODUCTS COUPLED WITH ADVISORY SERVICES TO CREATE AND PRESERVE AFFORDABLE HOUSING AND INVEST IN JOB-CREATING, COMMUNITY-DRIVEN ECONOMIC DEVELOPMENT PROJECTS FOR THE BENEFIT OF LOW-AND MODERATE INCOME RESIDENTS AND COMMUNITIES IN MICHIGAN.
-
FACILITATING AND MANAGING ALL NMTC INVESTMENTS
Expenses $1,384,820 · Revenue $2,789,336
-
FACILITATING AND MANAGING INVESTMENTS IN AFFORDABLE HOUSING AND OTHER NON-NMTC COMMUNITY DEVELOPMENT PROJECTS
Expenses $4,225,703 · Revenue $1,350,115
-
PROVIDING SUPPORT AND ADVISORY SERVICES TO OTHER COMMUNITY DEVELOPMENT ORGANIZATIONS
Revenue $75,591
As filed on the 2022 return.
Listed in Part VII
-
Eric HannaERIC HANNA
PRESIDENT & CEO; DIRECTOR
- Total calculated
- $263,659
- From this org
- $225,426
- From related orgs
- $0
- Other
- $38,233
- Hours/week
- 45 + 2 related
Schedule J breakdown matched by us
- Base
- $225,426
- Bonus
- $0
- Other
- $0
- Deferred
- $16,067
- Nontaxable benefits
- $22,166
- Filer's total
- $263,659
-
Mark MoranteMARK MORANTE
CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Mary KingMARY KING
VICE CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Jamie SchrinerJAMIE SCHRINER
TREASURER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Richard HoseyRICHARD HOSEY
SECRETARY
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Karl DorshimerKARL DORSHIMER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Mark McDanielMARK MCDANIEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Elissa SangalliELISSA SANGALLI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Marcia VenturaMARCIA VENTURA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Kara WoodKARA WOOD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Doug BarcyDOUG BARCY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Adrianne JenkinsADRIANNE JENKINS
CFO / COO
- Total calculated
- $217,382
- From this org
- $184,864
- From related orgs
- $0
- Other
- $32,518
- Hours/week
- 45 + 4 related
Schedule J breakdown matched by us
- Base
- $184,864
- Bonus
- $0
- Other
- $0
- Deferred
- $16,464
- Nontaxable benefits
- $16,054
- Filer's total
- $217,382
-
Marilyn ChrumkaMARILYN CHRUMKA
VICE PRESIDENT OF DEVELOPMENT
- Total calculated
- $179,852
- From this org
- $152,211
- From related orgs
- $0
- Other
- $27,641
- Hours/week
- 45 + 1 related
Schedule J breakdown matched by us
- Base
- $152,211
- Bonus
- $0
- Other
- $0
- Deferred
- $16,168
- Nontaxable benefits
- $11,473
- Filer's total
- $179,852
-
Elisabeth AlexandrianELISABETH ALEXANDRIAN
VICE PRESIDENT OF LENDING
- Total calculated
- $148,949
- From this org
- $116,156
- From related orgs
- $0
- Other
- $32,793
- Hours/week
- 45 + 10 related
-
Brandon MillerBRANDON MILLER
DIRECTOR OF PROPERTY MAINTENANCE
- Total calculated
- $124,841
- From this org
- $104,745
- From related orgs
- $0
- Other
- $20,096
- Hours/week
- 40 + 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
- 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.
-
MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY
CODE SECTION 115 · PROVIDE FINANCIAL ASSISTANCE FOR AFFORDABLE HOUSING · MI
-
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
CODE SECTION 115 · ASSIST TO DRIVE JOBS AND ECONOMIC DEVELOPMENT · MI
-
501(C)(3) · LOAN FUND · MI · controlled entity
Directly controlled by MICHIGAN COMMUNITY CAPITAL
-
MCC PARCEL B TITLE HOLDING CORPORATION
501(C)(2) · FIXED ASSET HOLDING COMPANY · MI · controlled entity
Directly controlled by MICHIGAN COMMUNITY CAPITAL
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.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
1206 CENTER LLC
RESIDENTIAL RENTAL · MI · income -$24,729 · assets $468,272
Directly controlled by MAGNET DEVELOPMENT COMPANY LLC
-
CADILLAC LOFTS LLC
RESIDENTIAL RENTAL · MI · income -$316,797 · assets $9,062,246
Directly controlled by MAGNET DEVELOPMENT COMPANY LLC
-
SAWMILL LOFTS
RESIDENTIAL RENTAL · MI · income $43,489 · assets $1,278,632
Directly controlled by MAGNET DEVELOPMENT COMPANY LLC
-
LOFTS ON LAKE STREET LLC
RESIDENTIAL RENTAL · MI · income $0 · assets $1,678,590
Directly controlled by MAGNET DEVELOPMENT COMPANY LLC
-
MAGNET DEVELOPMENT COMPANY
LENDER AND/OR EQUITY OWNER FOR REAL ESTATE TRANSACTIONS · MI · income $602,671 · assets $26,612,140
Directly controlled by MICHIGAN COMMUNITY CAPITAL
-
410 BROADWAY LLC
HOLDER OF LEVERAGED LOAN AND MASTER LEASE UNDER NMTC PROGRAM · MI · income -$242,794 · assets $24,147,486
Directly controlled by MAGNET DEVELOPMENT COMPANY LLC
-
CADILLAC LOFTS II LLC
RESIDENTIAL RENTAL · MI · income $0 · assets $684,267
Directly controlled by MAGNET DEVELOPMENT COMPANY LLC
-
526 CHAVEZ LLC
COMMERCIAL RENTAL · MI · income -$42,541 · assets $740,068
Directly controlled by MAGNET DEVELOPMENT COMPANY LLC
-
GH COMSTOCK LLC
SINGLE-FAMILY FOR-SALE HOUSING · MI · income -$1,211,499 · assets $3,121,838
Directly controlled by MAGNET DEVELOPMENT COMPANY LLC
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
439 SELDEN LLC
RELATED · RESIDENTIAL RENTAL · MI · share of income $511,507 · general or managing partner
-
TC 637 MICHIGAN LLC
RELATED · RESIDENTIAL RENTAL · MI · 75% owned · share of income -$41,352 · share of assets $1,630,009 · general or managing partner
-
MMF AAA CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · share of income $6 · share of assets $1,100 · general or managing partner
-
MMF BBB CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · share of income $3 · share of assets $793 · general or managing partner
-
MMF CCC CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · share of income $3 · share of assets $600 · general or managing partner
-
MMF DDD CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · share of income $8 · share of assets $970 · general or managing partner
-
MMF EEE CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · share of income $5 · share of assets $1,193 · general or managing partner
-
MMF FFF CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · share of income $10 · share of assets $1,367 · general or managing partner
-
MMF GGG CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · share of income $5 · share of assets $1,367 · general or managing partner
-
MMF HHH CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · share of income $4 · share of assets $827 · general or managing partner
-
MMF JJJ CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · share of income $3 · share of assets $683 · general or managing partner
-
TCWFH (EAST BAY FLATS)
RELATED · RESIDENTIAL RENTAL · MI · 49% owned · share of income -$45,737 · share of assets $1,786,151 · general or managing partner
-
449 BRIDGE STREET DEVELOPMENT LLC
RELATED · RESIDENTIAL RENTAL · MI · 80% owned · share of income -$242,114 · share of assets $2,765,669 · general or managing partner
-
TEMPLE LOFTS LLC
RELATED · RESIDENTIAL RENTAL · MI · 40% owned · share of income -$9,038 · share of assets $989,285 · general or managing partner
Directly controlled by MICHIGAN COMMUNITY CAPITAL
-
MCC 401 CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · share of income $5 · share of assets $747 · general or managing partner
-
MCC 402 CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · share of income $4 · share of assets $699 · general or managing partner
-
MCC 403 CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · share of income $6 · share of assets $1,296 · general or managing partner
-
MCC 404 CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · share of income $4 · share of assets $699 · general or managing partner
-
MCC 405 CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · share of income $2 · share of assets $1,000 · general or managing partner
-
MCC 406 CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · general or managing partner
-
MCC 407 CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · share of assets $1,300 · general or managing partner
-
LOFTS ON ROWE LLC
RELATED · RESIDENTIAL RENTAL; PROPERTY OWNER ENTITY · MI · 90% owned · share of income -$65,008 · share of assets $6,414,981 · general or managing partner
Directly controlled by MICHIGAN COMMUNITY CAPITAL
-
LOR MT LLC
RELATED · RESIDENTIAL RENTAL; MASTER SUB-LESSEE · MI · 10% owned · share of income -$687 · share of assets $12,017 · general or managing partner
Directly controlled by SPE PNC LOR MT LLC
-
FLINT HOME OWNERSHIP INITIATIVE LLC
RELATED · SINGLE-FAMILY FOR-SALE HOUSING · MI · 50% owned · share of assets $1,625,000
Directly controlled by UPTOWN REINVESTMENT CORPORATION INC
-
MMF LLL CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · share of income $28 · share of assets $1,610 · general or managing partner
-
MCC 408 CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · general or managing partner
-
MCC 409 CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · general or managing partner
-
MCC 410 CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · general or managing partner
-
MCC 411 CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · general or managing partner
-
MCC 412 CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · general or managing partner
-
MCC 413 CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · general or managing partner
-
MCC 414 CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · general or managing partner
-
MCC 415 CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · general or managing partner
-
MCC 416 CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · general or managing partner
-
MCC 417 CDE LLC
RELATED · COMMUNITY DEVELOPMENT ENTITY · MI · 0.01% owned · general or managing partner
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
MCC PROPERTY INSURANCE COMPANY INC
C · INSURANCE PRODUCTS FOR COMMUNITY DEVELOPMENT ENTITIES OR AFFORDABLE HOUSING · NC · 100% owned · share of income $172,939 · share of assets $2,621,737 · controlled entity
Directly controlled by MICHIGAN COMMUNITY CAPITAL
-
MCC PROPERTY RISK MANAGEMENT SERVICE INC
C · PROPERTY INSURANCE · MI · 100% owned · share of income -$63,460 · share of assets $216,506 · controlled entity
Directly controlled by MICHIGAN COMMUNITY CAPITAL
-
LUDINGTON LOR INC
C · HOLDS TITLE OR LEASEHOLD INTEREST IN MIXED-USE REAL ESTATE · MI · 100% owned · share of income -$476 · share of assets $6,492,858 · controlled entity
Directly controlled by MICHIGAN COMMUNITY CAPITAL
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 8 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202343179349301114
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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