Finnish Center Association
- Assets
- $524.5k
- Revenue
- $105.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Farmington Hills, MI
- Founding
- 11/2017
- Data as of
- 12/2022
- EIN
- 23-7246811
Organization Overview
Finnish Center Association is located in Farmington Hills, MI. The organization was established in 2017. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Finnish Center Association is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Finnish Center Association generated $105.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $156.6k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTING THE PRESERVATION OF THE FINNISH AND FINNISH-AMERICAN CULTURE.
Describe the Organization's Program Activity:
CULTURAL EVENTS-FOLK DANCING, SINGING, AND COOKING DONE REGULARLY DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christina Lovgren Treasurer | OfficerTrustee | 1 | $5,639 |
Sherrill Tedford Director | Trustee | 1 | $0 |
James Lee Director | Trustee | 1 | $0 |
Irene Lamanen Director | Trustee | 1 | $0 |
Ed O'brien Director | Trustee | 1 | $0 |
Jerry Collins Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $8,800 |
| Fundraising events | $9,191 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,221 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $38,212 |
| Total Program Service Revenue | $18,819 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $31,784 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$1,679 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $13,864 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $105,066 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $5,639 |
| Compensation of current officers, directors, key employees. | $5,639 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,329 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,179 |
| Information technology | $2,154 |
| Royalties | $0 |
| Occupancy | $58,289 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,414 |
| Insurance | $6,982 |
| All other expenses | $0 |
| Total functional expenses | $156,584 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $143,594 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,548 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $11,693 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $365,687 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $524,522 |
| Accounts payable and accrued expenses | $35,978 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $35,978 |
| Net assets without donor restrictions | $444,901 |
| Net assets with donor restrictions | $43,643 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $524,522 |