Marygrove Conservancy
- Assets
- $74.1m
- Revenue
- $9.0m
- Investments
- $0.0
- Employees
- 3
- Location
- Detroit, MI
- Founding
- 08/2018
- Data as of
- 12/2021
- EIN
- 82-2782819
Organization Overview
Marygrove Conservancy is located in Detroit, MI. The organization was established in 2018. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., under the broad grouping of Education and related organizations. As of 12/2021, Marygrove Conservancy employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marygrove Conservancy 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, Marygrove Conservancy generated $9.0m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 24.1% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE THE LEGACY OF MARYGROVE COLLEGE THROUGH THE ADVANCEMENT OF INTEGRATED P-20 EDUCATIONAL OPPORTUNITIES FOR LOW-INCOME CHILDREN AND FAMILIES, PARTICULARLY WITHIN THE LIVERNOIS AND MCNICHOLS CORRIDORS OF DETROIT, MICHIGAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF PROPERTY, INCLUDING THE LIBERAL ARTS BUILDING, THE MADAME CADILLAC BUILDING, THE FLORENT GILLET HALL BUILDING, THE POWER HOUSE BUILDING, THE STUDENT CENTER BUILDING, AND THE HARTMAN HALL BUILDING, HELD AS PART OF THE MARYGROVE COLLEGE LEGACY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Lewand Chief Executive Officer | Officer | 40 | $398,565 |
Racheal Allen Chief Operating Officer | Officer | 40 | $198,770 |
Sr Mary Jane Herb Chair | OfficerTrustee | 5 | $0 |
Aaron Seybert Treasurer | OfficerTrustee | 10 | $0 |
Glenda Price Secretary | OfficerTrustee | 1 | $0 |
Rose Desloover Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Barton Malow Company Construction | 12/30/21 | $11,217,295 |
Beanstalk Real Estate Solutions Property Management | 12/30/21 | $406,361 |
Allied Universal Security Services Security | 12/30/21 | $332,212 |
Integrated Design Solutions Llc Construction | 12/30/21 | $310,944 |
Ram Construction Services Construction | 12/30/21 | $575,744 |
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 | $5,565,557 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,565,557 |
| Total Program Service Revenue | $0 |
| Investment income | $167 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $577,876 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,035,851 |
| 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. | $597,335 |
| Compensation of current officers, directors, key employees. | $238,934 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $65,594 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $57,129 |
| Payroll taxes | $37,183 |
| Fees for services: Management | $476,437 |
| Fees for services: Legal | $132,000 |
| Fees for services: Accounting | $90,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $383,724 |
| Advertising and promotion | $16,890 |
| Office expenses | $237,928 |
| Information technology | $19,976 |
| Royalties | $0 |
| Occupancy | $603,177 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $862,791 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $701,256 |
| Insurance | $371,043 |
| All other expenses | $94,602 |
| Total functional expenses | $6,106,938 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,167,756 |
| Savings and temporary cash investments | $2,583,904 |
| Pledges and grants receivable | $306,500 |
| Accounts receivable, net | $278,860 |
| 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 | $132,603 |
| Net Land, buildings, and equipment | $35,693,464 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $28,927,545 |
| Total assets | $74,090,632 |
| Accounts payable and accrued expenses | $7,982,941 |
| Grants payable | $0 |
| Deferred revenue | $19,709 |
| 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 | $54,399,384 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,030 |
| Total liabilities | $62,408,064 |
| Net assets without donor restrictions | $9,760,977 |
| Net assets with donor restrictions | $1,921,591 |
| 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 | $74,090,632 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Marygrove Conservancy has recieved totaling $3,378,000.
| Awarding Organization | Amount |
|---|---|
Kresge Foundation Troy, MI PURPOSE: THIS GRANT PROVIDES GENERAL OPERATING SUPPORT TO THE MARYGROVE CONSERVANCY FOR ITS ONGOING STEWARDSHIP AND MAINTENANCE OF THE MARYGROVE CAMPUS. | $1,333,000 |
Kresge Foundation Troy, MI PURPOSE: THIS GRANT PROVIDES GENERAL OPERATING SUPPORT TO THE MARYGROVE CONSERVANCY FOR ITS ONGOING STEWARDSHIP AND MAINTENANCE OF THE MARYGROVE CAMPUS. | $1,000,000 |
Kresge Foundation Troy, MI PURPOSE: THIS GRANT PROVIDES GENERAL OPERATING SUPPORT TO THE MARYGROVE CONSERVANCY FOR ITS ONGOING STEWARDSHIP AND MAINTENANCE OF THE MARYGROVE CAMPUS. | $765,000 |
Kresge Foundation Troy, MI PURPOSE: THIS GRANT PROVIDES GENERAL OPERATING SUPPORT TO THE MARYGROVE CONSERVANCY FOR ITS ONGOING STEWARDSHIP AND MAINTENANCE OF THE MARYGROVE CAMPUS. | $250,000 |
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Education | $10,000 |
Kresge Foundation Troy, MI PURPOSE: THIS GRANT PROVIDES GENERAL OPERATING SUPPORT TO THE CENTER FOR DETROIT CULTURE AT MARYGROVE AS PART OF ROUND 6 OF THE DETROIT ARTS SUPPORT (DAS) INITIATIVE, WHICH PROVIDES UNRESTRICTED SUPPORT TO ARTS AND CULTURE ORGANIZATIONS OF ALL DISCIPLINES AND SIZES ACROSS THE METROPOLITAN DETROIT AREA. | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Augustine Preparatory Academy Inc Milwaukee, WI | $57,201,795 | $17,148,722 |
Euclid Avenue Development Corporation Cleveland, OH | $92,407,891 | $9,458,468 |
Michigan College Access Network Lansing, MI | $5,083,649 | $7,946,913 |
Columbus Learning Center Management Corporation Columbus, IN | $38,848,062 | $6,215,911 |
Marygrove Conservancy Detroit, MI | $74,090,632 | $9,035,851 |
University Of Cincinnati Research Institute Cincinnati, OH | $5,011,413 | $4,382,075 |
Beyond Basics Southfield, MI | $2,664,209 | $4,401,467 |
V Hechzakta Bo Detroit, MI | $224,014 | $2,259,831 |
Arcade Innovation Hub Llc Dayton, OH | $2,725,647 | $1,536,202 |
Smdp New School Co Cleveland, OH | $15,360,863 | $353,183 |
Ministerial Day Care Association Cleveland, OH | $1,618,739 | $877,695 |
Champion Education Network Detroit, MI | $924,146 | $2,012,964 |