Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $140,410

• 1f · All other contributions, gifts and grants

  $3,058,346

• 2a · Program service revenue: ADMINISTRATION INCOME

  total $140,968 · related or exempt $140,968

• 3 · Investment income

  total $300,803 · excluded $300,803

• 7a · Gross sales of assets other than inventory

  securities $1,229,213

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

  securities $1,132,285

• 7c · Gain or loss

  securities $96,928

• 7d · Net gain or loss

  total $96,928 · excluded $96,928

• 8a · Fundraising events: gross income

  $0

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

  $140,410

• 8b · Fundraising events: direct expenses

  $69,553

• 8c · Net income from fundraising events

  total -$69,553 · excluded -$69,553

• 11a · Other revenue: EMPLOYEE RETENTION CREDIT

  total $83,495 · related or exempt $83,495

• 11e · Other revenue, total

  $83,495

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $204,931 · program services $204,931

• 2 · Grants to domestic individuals

  total $1,481,229 · program services $1,481,229

• 7 · Other salaries and wages

  total $578,724 · program services $182,390 · management and general $225,781 · fundraising $170,553

• 11c · Fees: accounting

  total $54,619 · management and general $54,619

• 11f · Fees: investment management

  total $103,179 · program services $67,171 · management and general $36,008

• 12 · Advertising and promotion

  total $19,173 · fundraising $19,173

• 13 · Office expenses

  total $19,948 · management and general $2,822 · fundraising $17,126

• 22 · Depreciation, depletion and amortization

  total $1,334 · management and general $1,334

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $1,103,769 · end of year $1,161,087

• 3 · Pledges and grants receivable

  beginning of year $50,458 · end of year $32,151

• 4 · Accounts receivable

  beginning of year $100 · end of year $1,667

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,755 · end of year $1,755

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

  $20,641

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

  $19,130

• 10c · Land, buildings and equipment, net

  beginning of year $956 · end of year $1,511

• 12 · Investments: other securities

  beginning of year $9,464,073 · end of year $11,958,949

• 15 · Other assets

  beginning of year $389,339 · end of year $422,134

• 17 · Accounts payable and accrued expenses

  beginning of year $25,591 · end of year $87,068

• 25 · Other liabilities

  beginning of year $983,767 · end of year $1,122,270

• 27 · Net assets without donor restrictions

  beginning of year $1,071,374 · end of year $1,135,164

• 28 · Net assets with donor restrictions

  beginning of year $8,929,718 · end of year $11,234,752

The filer's explanations (Part III)

SCHEDULE J

THE REPORTED COMPENSATED INDIVIDUALS ARE EMPLOYEES OF THE COLLEGE AND WERE THEREFORE COMPENSATED BY THE COLLEGE, NOT THE MPC FOUNDATION. THEY ARE REPORTED HERE SINCE THE MPC FOUNDATION EXECUTIVE DIRECTOR POSITION IS ASSIGNED TO MPC'S VICE PRESIDENT OF ADVANCEMENT, AND THE OTHER INDIVIDUALS SERVE AS REPRESENTATIVE DIRECTORS ON THE FOUNDATION BOARD.