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← PRESBYTERIAN VILLAGES OF MICHIGAN FOUNDATION

Form 990 for tax year 2022

Filed by PRESBYTERIAN VILLAGES OF MICHIGAN FOUNDATION.

Totals

Total revenue
$3,326,226
Total expenses
$3,481,645
Contributions and grants received
$2,658,664
Grants paid
$2,091,158
Program service revenue
$0
Investment income
$452,774
Other revenue
$214,788
Total assets, end of year
$23,965,452
Total liabilities, end of year
$200,540
Net assets or fund balances, end of year
$23,764,912
Program services expenses (Part IX)
$2,456,539
Management and general expenses
$285,017
Fundraising expenses
$740,089
Program service expenses (Part III)
$2,456,539

Program services were 70.6% 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.

  • 1c · Fundraising events

    $23,000

  • 1f · All other contributions, gifts and grants

    $2,635,664

  • 1g · Noncash contributions included above

    $21,052

  • 3 · Investment income

    total $560,105

  • 7a · Gross sales of assets other than inventory

    securities $23,942,323

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

    securities $24,049,654

  • 7c · Gain or loss

    securities -$107,331

  • 7d · Net gain or loss

    total -$107,331

  • 8a · Fundraising events: gross income

    $22,650

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

    $23,000

  • 8b · Fundraising events: direct expenses

    $12,168

  • 8c · Net income from fundraising events

    total $10,482

  • 9a · Gaming: gross income

    $15,000

  • 9b · Gaming: direct expenses

    $5,050

  • 9c · Net income from gaming

    total $9,950

  • 11a · Other revenue: Fundraising Management Fees

    total $194,356

  • 11e · Other revenue, total

    $194,356

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,091,158 · program services $2,091,158

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $158,741 · fundraising $158,741

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $304,106 · management and general $46,890 · fundraising $257,216

  • 8 · Pension plan contributions

    total $6,966 · management and general $706 · fundraising $6,260

  • 9 · Other employee benefits

    total $13,131 · management and general $1,330 · fundraising $11,801

  • 10 · Payroll taxes

    total $29,650 · fundraising $29,650

  • 11a · Fees: management

    total $53,161 · management and general $53,161

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $18,152 · management and general $18,152

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $60,000 · fundraising $60,000

  • 11f · Fees: investment management

    total $159,568 · management and general $159,568

  • 11g · Fees: other

    total $981 · fundraising $981

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $79,412 · fundraising $79,412

  • 14 · Information technology

    total $33,527 · fundraising $33,527

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $20,709 · management and general $4,326 · fundraising $16,383

  • 17 · Travel

    total $34,130 · fundraising $34,130

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $1,096 · management and general $229 · fundraising $867

  • 23 · Insurance

    total $3,122 · management and general $652 · fundraising $2,470

  • 24a · Other expenses: matching programs

    total $31,000 · program services $31,000

  • 24b · Other expenses: fund raising mgt fees

    total $242,351 · program services $242,351

  • 24c · Other expenses: COVID grants

    total $91,677 · program services $91,677

  • 24e · All other expenses

    total $49,007 · program services $353 · management and general $3 · fundraising $48,651

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,108,208 · end of year $636,046

  • 4 · Accounts receivable

    beginning of year $839,256 · end of year $5,792,086

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,800 · end of year $17,030

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

    $21,797

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

    $21,797

  • 11 · Investments: publicly traded securities

    beginning of year $25,045,663 · end of year $17,515,490

  • 12 · Investments: other securities

    beginning of year $1,652,570

  • 15 · Other assets

    beginning of year $1,610 · end of year $4,800

  • 17 · Accounts payable and accrued expenses

    beginning of year $142,195 · end of year $168,061

  • 18 · Grants payable

    beginning of year $58,350 · end of year $32,479

  • 27 · Net assets without donor restrictions

    beginning of year $16,179,994 · end of year $11,515,165

  • 28 · Net assets with donor restrictions

    beginning of year $12,271,568 · end of year $12,249,747

Mission and programs · 2022

Mission

The PVM Foundation sustains and advances the mission of Presbyterian Villages of Michigan by providing philanthropic support for benevolent care, wellness programs, innovative projects and residences for seniors of all faiths.

Activities or mission (Part I)

The PVM Foundation sustains and advances the mission of Presbyterian Villages of Michigan by providing philanthropic support for benevolent care, wellness programs, innovative projects and residences for seniors.

  • A non-profit faith based philanthropic organization that receives charitable contributions, manages its funds and provides financial assistance to related organizations and others who focus on serving senior adults

    Expenses $2,456,539 · Grants $2,091,158 · Revenue $3,166,758

As filed on the 2022 return.

Listed in Part VII

  • Brian Carnaghi

    Treasurer Sr VP, Presbyterian Villages of Michigan

    Total calculated
    $283,953
    From this org
    $0
    From related orgs
    $283,953
    Other
    $0
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $280,084 related
    Bonus
    not reported
    Other
    not reported + $3,869 related
    Deferred
    not reported + $5,711 related
    Nontaxable benefits
    not reported + $15,815 related
    Filer's total
    not reported + $305,479 related

  • Paul Miller

    President President of Presbyterian Villages of Micigan Foundation

    Total calculated
    $158,741
    From this org
    $158,741
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,050
    Bonus
    not reported
    Other
    $691
    Deferred
    $3,171
    Nontaxable benefits
    $588
    Filer's total
    $162,500

  • Bruce Blalock

    Treasurer

    Total calculated
    $92,572
    From this org
    $0
    From related orgs
    $92,572
    Other
    $0
    Hours/week
    1 + 40 related

  • James Gompers

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Donald A Lindow

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Robert Peterson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Paul Hubbard

    Director

    Total calculated
    $0
    Hours/week
    1

  • Robert Schroeder

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Linda Bomberski

    Director

    Total calculated
    $0
    Hours/week
    1

  • Henry Johnson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Duane Lewis

    Director

    Total calculated
    $0
    Hours/week
    1

  • John Utley

    Director

    Total calculated
    $0
    Hours/week
    1

  • Elmer Dixon

    Director

    Total calculated
    $0
    Hours/week
    1

  • Thomas Kimble

    Director

    Total calculated
    $0
    Hours/week
    1

  • Lisa Machesky

    Director

    Total calculated
    $0
    Hours/week
    1

  • John Denler Jr

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mark Wallace

    Director

    Total calculated
    $0
    Hours/week
    1

  • Michelle Williams

    Director

    Total calculated
    $0
    Hours/week
    1

  • Debra Romalia

    Director

    Total calculated
    $0
    Hours/week
    1

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

  • 6a · Pay contingent on this organization's net earnings

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
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception
  • 9 · Followed the rebuttable-presumption procedure

The filer's explanations (Part III)

Part I Line 6b
Selected members of senior management are eligible to participate in an Executive Incentive Compensation Program if selected financial and quality targets are achieved across the entire Presbyterian Villages of Michigan system

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

  • Various - see schedule

    $2,091,158

    various - see schedule

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.

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • Pontiac ILF LDHA LP

    Senior Housing · MI

  • Lake Huron Woods Associates

    Senior Housing · MI

  • Redford Manor LDHA LP

    Senior Housing · MI

  • Woodbridge ILF Associates LDHA LP

    Senior Housing · MI

  • Gibraltar Manor LDHA LP

    Senior Housing · MI

  • Oakland Woods LDHA LP

    Senior Housing · MI

  • Blackman LDHA LP

    Senior Housing · MI

  • MLK Gibson Devel Co

    Senior Housing · MI

  • Lake Huron Woods Associates LDHA LP

    Senior Housing · MI

  • Redford Manor LP LLC

    Senior Housing · MI

  • Gibraltor Manor Dev Co

    Senior Housing · MI

  • PVM Jeffries LLC

    Senior Housing · MI

  • PV-North II LLC

    Senior Housing · MI

  • PV West LLC

    Senior Housing · MI

  • Detroit Affordable Assisted Living LDHA

    Senior Housing · MI

  • PVM Detroit AAL

    Senior Housing · MI

  • Hartford PVM LLC

    Senior Housing · MI

  • PVM EJNP AAL

    Senior Housing · MI

  • Alpena Pines LDHA LP

    Senior Housing · MI

  • Alpena Village LLC

    Senior Housing · MI

  • Redford Cottages LDHA LP

    Senior Housing · MI

  • Redford Cottages LLC

    Senior Housing · MI

  • Hillside LDHA LP

    Senior Housing · MI

  • Hillside Development LLC

    Senior Housing · MI

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202343189349302534

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