Mcfarlan Charitable Corporation
- Assets
- $25.7m
- Revenue
- $2.7m
- Investments
- $19.7m
- Employees
- 0
- Location
- Flint, MI
- Founding
- 11/1941
- Data as of
- 12/2022
- 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 12/2022, Mcfarlan Charitable Corporation generated $2.7m 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 (3.4%) each year. All expenses for the organization totaled $3.5m during the year ending 12/2022. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT OF OTHER IRC SEC. 501(C)(3) ORGANIZATIONS.
OPERATION OF HOMES FOR ELDERLY WOMEN AND SENIORS WITH LOW AND MODERATE INCOME (285 UNITS TOTAL)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Louise Mcara Director | 0 | $0 | |
Cathy Metz Director | 0 | $0 | |
Robert Bessert Director | 0 | $0 | |
Laura Bowers Director | 0 | $0 | |
Lisa Horne Director | 0 | $0 | |
Emily Doerr Director | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Presbyterian Villages Of Mi | 12/30/19 | $1,225,654 |
Interstate Restoration Michigan Llc | 12/30/19 | $100,805 |
Conti | 12/30/19 | $91,815 |
Security 101 | 12/30/19 | $78,627 |
Newkirk | 12/30/19 | $58,535 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $816,566 |
| Interest on Savings | $0 |
| Dividends & Interest | $555,162 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$507,347 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,828,108 |
| Total Revenue | $2,692,489 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $95,968 |
| Depreciation | $246,640 |
| Occupancy | $334,334 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,560,313 |
| Total operating and administrative expenses | $2,634,565 |
| Contributions, gifts, grants paid | $835,000 |
| Total expenses and disbursements | $3,469,565 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48,827 |
| Savings and temporary cash investments | $1,514,189 |
| Net Accounts receivable | $65,033 |
| Net Pledges Receivable | $0 |
| Grants receivable | $12,500 |
| 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 | $14,908,874 |
| Net Land, buildings, and equipment | $3,665,606 |
| Other assets | $669,265 |
| Total assets | $25,702,680 |
| Accounts payable and accrued expenses | $346,841 |
| Grants payable | $0 |
| Deferred revenue | $27,730 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $64,382 |
| Other liabilities | $243,857 |
| Total liabilities | $682,810 |
Grants Awarded
Over the last fiscal year, Mcfarlan Charitable Corporation has awarded $61,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
HAMILTON COMMUNITY HEALTH NETWORK PURPOSE: PPE | $60,000 |
WHALEY HISTORICAL HOUSE ASSOCIATION PURPOSE: GENERAL OPERATIONS | $1,000 |