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Nonprofiteer
← MACKINAC ISLAND COMMUNITY FOUNDATION

Form 990 for tax year 2023

Filed by MACKINAC ISLAND COMMUNITY FOUNDATION.

Totals

Total revenue
$1,966,056
Total expenses
$1,029,408
Contributions and grants received
$579,436
Grants paid
$707,162
Program service revenue
$4,548
Investment income
$1,347,046
Other revenue
$35,026
Total assets, end of year
$18,642,658
Total liabilities, end of year
$588,545
Net assets or fund balances, end of year
$18,054,113
Program services expenses (Part IX)
$765,036
Management and general expenses
$259,209
Fundraising expenses
$5,163
Program service expenses (Part III)
$765,036

Program services were 74.3% 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

    $579,436

  • 1g · Noncash contributions included above

    $37,688

  • 2a · Program service revenue: ADMINISTRATIVE FEES

    total $4,548 · related or exempt $4,548

  • 3 · Investment income

    total $315,918 · excluded $315,918

  • 7a · Gross sales of assets other than inventory

    securities $2,066,346

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

    securities $1,035,218

  • 7c · Gain or loss

    securities $1,031,128

  • 7d · Net gain or loss

    total $1,031,128 · excluded $1,031,128

  • 11a · Other revenue: GRANT FUNDS RETURNED

    total $31,532 · related or exempt $31,532

  • 11b · Other revenue: OTHER

    total $3,494 · related or exempt $3,494

  • 11e · Other revenue, total

    $35,026

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $637,762 · program services $637,762

  • 2 · Grants to domestic individuals

    total $69,400 · program services $69,400

  • 5 · Compensation of officers, directors and key employees

    total $70,298 · management and general $70,298

  • 7 · Other salaries and wages

    total $42,888 · program services $21,444 · management and general $21,444

  • 9 · Other employee benefits

    total $3,397 · program services $1,021 · management and general $2,376

  • 10 · Payroll taxes

    total $8,659 · program services $1,641 · management and general $7,018

  • 11b · Fees: legal

    total $1,507 · management and general $1,507

  • 11c · Fees: accounting

    total $12,725 · management and general $12,725

  • 11f · Fees: investment management

    total $88,590 · management and general $88,590

  • 11g · Fees: other

    total $32,570 · management and general $32,570

  • 12 · Advertising and promotion

    total $12,235 · program services $12,235

  • 13 · Office expenses

    total $5,163 · fundraising $5,163

  • 14 · Information technology

    total $8,649 · management and general $8,649

  • 17 · Travel

    total $2,963 · program services $2,963

  • 19 · Conferences, conventions and meetings

    total $300 · program services $300

  • 23 · Insurance

    total $4,483 · management and general $4,483

  • 24a · Other expenses: SUPPLIES & POSTAGE

    total $8,955 · program services $8,955

  • 24b · Other expenses: MISCELLANEOUS

    total $8,849 · management and general $8,849

  • 24c · Other expenses: DUES & SUBSCRIPTIONS

    total $4,112 · program services $4,112

  • 24d · Other expenses: DIRECT EXPENSES

    total $3,449 · program services $3,449

  • 24e · All other expenses

    total $2,454 · program services $1,754 · management and general $700

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $557,271 · end of year $448,179

  • 2 · Savings and temporary cash investments

    beginning of year $1,481,434 · end of year $795,104

  • 11 · Investments: publicly traded securities

    beginning of year $12,950,314 · end of year $17,021,597

  • 15 · Other assets

    beginning of year $377,778 · end of year $377,778

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,409 · end of year $3,104

  • 18 · Grants payable

    beginning of year $100,546 · end of year $114,873

  • 25 · Other liabilities

    beginning of year $388,463 · end of year $470,568

  • 27 · Net assets without donor restrictions

    beginning of year $14,870,379 · end of year $18,054,113

Mission and programs · 2023

Mission

THE MACKINAC ISLAND COMMUNITY FOUNDATION PROMOTES THE GENERAL WELL-BEING OF ISLAND RESIDENTS AND VISITORS, BY WORKING IN COMMUNITY PARTNERSHIPS TO GENERATE ENDOWED AND UN-ENDOWED FUNDS AND STIMULATE COMMUNITY-WIDE INITIATIVES.

Activities or mission (Part I)

PROMOTES THE GENERAL WELL-BEING OF ISLAND RESIDENTS AND VISITORS.

  • GRANTS TO CHARITABLE ORGANIZATIONS LOCATED ON MACKINAC ISLAND AND ST. IGNACE, MICHIGAN.

    Expenses $765,036 · Grants $707,162

As filed on the 2023 return.

Listed in Part VII

  • James Murray

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Kathleen Rickley

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Margaret M Doud

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Richard Linn

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Bob Benser

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Carol Rearick

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Bradley Chambers

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Lorna P Straus

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Brenda Bunker

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Jane Young

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Phil Porter

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Stephanie McGreevy

    EXECUTIVE DIRECTOR

    Total calculated
    $70,298
    From this org
    $70,298
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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.

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
13 May 2024
IRS schema version
2023v5.0
Source object
202401349349304270

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.