Mcfarlan Charitable Corporation
- Assets
- $32.1m
- Revenue
- $4.3m
- Investments
- $24.4m
- Employees
- 0
- Location
- Flint, MI
- Founding
- 11/1941
- Data as of
- 12/2021
- EIN
- 38-1390531
Organization Overview
Mcfarlan Charitable Corporation is located in Flint, MI. The organization was established in 1941. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mcfarlan Charitable Corporation 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 12/2021, Mcfarlan Charitable Corporation generated $4.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $3.8m during the year ending 12/2021. While expenses have increased by 2.9% 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.
Since 2014, Mcfarlan Charitable Corporation has awarded 40 individual grants totaling $1,546,462. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF HOMES FOR ELDERLY WOMEN AND SENIORS WITH LOW AND MODERATE INCOME (285 UNITS TOTAL)
SUPPORT OF OTHER IRC SEC. 501(C)(3) ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Tommasulo Director | 0 | $0 | |
Donna Fry Director | 0 | $0 | |
Emily Doerr Director | 0 | $0 | |
Louise Mcara President | 0.5 | $0 | |
Robert Bessert Treasurer | 0.5 | $0 | |
Kathy Boles Vice President | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Interstate Restoration Michigan Llc | 12/30/19 | $100,805 |
Newkirk | 12/30/19 | $58,535 |
Presbyterian Villages Of Mi | 12/30/19 | $1,225,654 |
Conti | 12/30/19 | $91,815 |
Security 101 | 12/30/19 | $78,627 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $376,702 |
| Interest on Savings | $0 |
| Dividends & Interest | $812,351 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $533,767 |
| Capital Gain Net Income | $533,767 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,552,242 |
| Total Revenue | $4,275,062 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $152,792 |
| Depreciation | $352,355 |
| Occupancy | $408,432 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,220,130 |
| Total operating and administrative expenses | $3,721,537 |
| Contributions, gifts, grants paid | $61,000 |
| Total expenses and disbursements | $3,782,537 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,262 |
| Savings and temporary cash investments | $998,584 |
| Net Accounts receivable | $148,037 |
| Net Pledges Receivable | $0 |
| Grants receivable | $207,852 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $17,676,287 |
| Net Land, buildings, and equipment | $5,411,417 |
| Other assets | $852,844 |
| Total assets | $32,055,659 |
| Accounts payable and accrued expenses | $265,784 |
| Grants payable | $0 |
| Deferred revenue | $27,423 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $9,964 |
| Other liabilities | $260,683 |
| Total liabilities | $563,854 |
Grants Awarded
Over the last fiscal year, Mcfarlan Charitable Corporation has awarded $61,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Flint, MI PURPOSE: PPE | $60,000 |
Flint, MI PURPOSE: GENERAL OPERATIONS | $1,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mcfarlan Charitable Corporation has recieved totaling $14,428.
| Awarding Organization | Amount |
|---|---|
Grace I Kleinpell Trust Columbus, OH PURPOSE: SUPPORT OF THIS CHARITY PER | $14,428 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Village At Marymount Garfield Heights, OH | $5,352,973 | $16,703,874 |
Aptiv Incorporated La Crosse, WI | $4,803,038 | $12,027,224 |
Edsel And Eleanor Ford House Grosse Pointe Shores, MI | $328,038,802 | $12,445,182 |
Horizons Of Tuscarawas And Carroll Cos Inc Dover, OH | $1,859,166 | $6,709,172 |
Flanner House Of Indianapolis Inc Indianapolis, IN | $11,398,780 | $7,969,913 |
Threshold Residential Services Inc East Palestine, OH | $5,658,517 | $7,300,883 |
Midland Kings Daughters Home Of Michigan Midland, MI | $3,883,592 | $5,094,728 |
Indiana Community Action Program Indianapolis, IN | $2,520,276 | $3,738,800 |
Mcfarlan Charitable Corporation Flint, MI | $32,055,659 | $4,275,062 |
Hills Support Services Inc Inkster, MI | $2,307,339 | $3,028,325 |
Central Community House Of Columbus Inc Columbus, OH | $4,245,139 | $2,852,943 |
Licking County Coalition For Housing Newark, OH | $2,385,460 | $2,979,714 |