Midland Kings Daughters Endowment Fund
- Assets
- $40.1m
- Revenue
- $3.5m
- Investments
- $2.2m
- Employees
- 0
- Location
- Midland, MI
- Founding
- 06/2006
- Data as of
- 12/2021
- EIN
- 56-2576446
Organization Overview
Midland Kings Daughters Endowment Fund is located in Midland, MI. The organization was established in 2006. According to its NTEE Classification (L11) the organization is classified as: Single Organization Support, 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. Midland Kings Daughters Endowment Fund 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, Midland Kings Daughters Endowment Fund generated $3.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $1.9m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MIDLAND KING'S DAUGHTERS ENDOWMENT FUND PROVIDES DISCRETIONARY SUPPORT FOR OPERATION AND MAINTENANCE OF THE MIDLAND KING'S DAUGHTERS HOME (THE HOME), A NONPROFIT PROVIDER OF ASSISTED LIVING AND NURSING CARE SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCIAL SUPPORT FOR THE KING'S DAUGHTERS HOME
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chrysa Milholland Vice Preside | OfficerTrustee | $0 | |
Michelle Pilaske President | OfficerTrustee | $0 | |
Mark Minbiole Treasurer | OfficerTrustee | $0 | |
Jean Krause Secretary | OfficerTrustee | $0 | |
Dennis Buckler Director | Trustee | $0 | |
Liz Kapla Director | Trustee | $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 | $6,018 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,018 |
| Total Program Service Revenue | $1 |
| Investment income | $1,436,016 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,039,010 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,481,045 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,560,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $3,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $204,863 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $143,787 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,917,238 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,298,230 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,600,077 |
| Investments—publicly traded securities | $33,042,983 |
| Investments—other securities | $2,178,487 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,197 |
| Total assets | $40,124,974 |
| Accounts payable and accrued expenses | $1,595,465 |
| 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 | $1,595,465 |
| Net assets without donor restrictions | $38,529,509 |
| Net assets with donor restrictions | $0 |
| 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 | $40,124,974 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Midland Kings Daughters Endowment Fund has recieved totaling $17,034.
| Awarding Organization | Amount |
|---|---|
Midland Area Community Foundation Midland, MI PURPOSE: HUMAN SERVICES | $17,034 |
Endowment Analysis
| Beg. Balance | $32,417,966 |
| Earnings | $4,642,205 |
| Admin Expense | $212,501 |
| Net Contributions | $6,018 |
| Grants | $1,485,000 |
| Ending Balance | $35,368,688 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Uwm Real Estate Foundation Inc Milwaukee, WI | $83,241,635 | $5,703,376 |
Ohio Capital Impact Corporation Columbus, OH | $12,020,357 | $5,228,478 |
Blugold Real Estate Foundation Inc Eau Claire, WI | $54,871,317 | $5,562,467 |
Midland Kings Daughters Endowment Fund Midland, MI | $40,124,974 | $3,481,045 |
Cedar Village Foundation Cincinnati, OH | $22,623,541 | $1,028,464 |
Glacier Hills Foundation Ann Arbor, MI | $15,415,719 | $1,434,969 |
Lutheran Homes Of Michigan Foundation Saginaw, MI | $12,862,481 | $2,826,886 |
Holie Vii Inc Mequon, WI | $2,106,301 | $274,557 |
Community Development Alternatives Inc Prairie Du Chien, WI | $1,232,003 | $240,505 |
Northport Movin Out Inc Madison, WI | $1,296,580 | $88,718 |
Ideafor Inc Cincinnati, OH | $6,209,788 | $109,737 |
New Community Shelter Foundationinc Green Bay, WI | $1,954,752 | $145,316 |