Mighell Fund Inc
- Assets
- $4.1m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 49
- Location
- Aurora, IL
- Founding
- 09/1964
- Data as of
- 06/2022
- EIN
- 36-1868692
Organization Overview
Mighell Fund Inc is located in Aurora, IL. The organization was established in 1964. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2022, Mighell Fund Inc employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mighell Fund Inc 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 06/2022, Mighell Fund Inc generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $1.9m during the year ending 06/2022. While expenses have increased by 2.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
THE MIGHELL FUND'S PURPOSE IS TO PROVIDE A SECURE ENVIRONMENT FOR ACTIVE, MATURE ADULTS WHO WANT TO LIVE INDEPENDENTLY, WHERE INDIVIDUALISM IS ENCOURAGED AND RESPECTED.
Describe the Organization's Program Activity:
THE MIGHELL FUND INC PROVIDES HOUSING AND RELATED SERVICES FOR RETIRED INDIVIDUALS. THERE ARE APPROXIMATELY 64 APARTMENTS AVAILABLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald Mangers Former Exec | $99,560 | ||
Alex Haughee Executive Di | Officer | 40 | $21,922 |
Stewart Beach Secretary | OfficerTrustee | 1 | $0 |
John Cordogan President | OfficerTrustee | 1 | $0 |
Mark Truemper Treasurer | OfficerTrustee | 1 | $0 |
Linda Pilmer Vice Pres. | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $73,821 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $73,821 |
| Total Program Service Revenue | $1,610,134 |
| Investment income | $61,664 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $28,283 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,773,902 |
| 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. | $68,063 |
| Compensation of current officers, directors, key employees. | $33,399 |
| Compensation to disqualified persons | $51,757 |
| Other salaries and wages | $734,644 |
| Pension plan accruals and contributions | $10,509 |
| Other employee benefits | $67,063 |
| Payroll taxes | $69,792 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,485 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,868 |
| Fees for services: Other | $0 |
| Advertising and promotion | $35,403 |
| Office expenses | $26,034 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $132,995 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $34 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $239,147 |
| Insurance | $21,159 |
| All other expenses | $59,553 |
| Total functional expenses | $1,880,018 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,268 |
| Savings and temporary cash investments | $47,002 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,079 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $43,670 |
| Prepaid expenses and deferred charges | $34,770 |
| Net Land, buildings, and equipment | $1,801,699 |
| Investments—publicly traded securities | $2,139,209 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,077,697 |
| Accounts payable and accrued expenses | $84,482 |
| Grants payable | $0 |
| Deferred revenue | $13,842 |
| 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 | $136,510 |
| Total liabilities | $234,834 |
| Net assets without donor restrictions | $3,754,882 |
| Net assets with donor restrictions | $87,981 |
| 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 | $4,077,697 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mighell Fund Inc has recieved totaling $7,500.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of The Fox River Valley Aurora, IL | | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ed Uihlein Family Foundation Lake Forest, IL | $7,123,989 | $4,757,675 |
Joseph L & Sarah S Marcum Foundation Chicago, IL | $0 | $6,419,437 |
Kraft Heinz Company Foundation Chicago, IL | $398,764 | $8,002,636 |
State Farm Companies Foundation Bloomington, IL | $9,666,483 | $1,134 |
Bayer Fund St Louis, MO | $65,640,119 | $9,167,249 |
Marie C & Joseph C Wilson Foundation Chicago, IL | $0 | $53,412 |
Humana Foundation Inc Louisville, KY | $467,311,073 | $9,744,567 |
Alphawood Foundation Chicago, IL | $96,386,448 | $15,256,055 |
Steans Family Foundation Chicago, IL | $0 | $20,140,801 |
Reiman Foundation Inc Pewaukee, WI | $64,480,239 | $12,529,672 |
Roger And Susan Stone Family Foundation Northbrook, IL | $23,476,805 | $8,385,528 |
Galashiels Fund Ltd Northbrook, IL | $154,593,436 | $48,314,988 |