Marshall Community Foundation FY2021 filing

Tax-deductible

Marshall, MI501(c)(3)Since 1968Foundations & GrantmakersEIN 23-7011281

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501(c)(3) charity; gifts are tax-deductible.
78¢ of each $1 spent went to programs.
Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $1.5M a year · 57% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
12 mo
of spending, in cash
Looks good: 11.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $177K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$64K
0.3% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.3M
+530% vs prior year
Spent
$953K
To programs
78%
Net assets
$20.8M
By yearFY2020–FY2024
Revenue
$6.3M
FY2021▲ +530%
Revenue by fiscal year
FY2020$1.0M
FY2021$6.3M
FY2022$1.8M
FY2023$2.0M
FY2024$1.9M
FY2024$2.7M
Expenses
$953K
FY2021▼ -13%
Expenses by fiscal year
FY2020$1.1M
FY2021$953K
FY2022$1.0M
FY2023$1.2M
FY2024$1.4M
FY2024$1.6M
Net assets
$20.8M
FY2021▲ +35%
Net assets by fiscal year
FY2020$15.4M
FY2021$20.8M
FY2022$17.1M
FY2023$19.9M
FY2024$24.0M
FY2024$26.3M

From the FY2021 Form 990 (year ending September 2021) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1970.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $747K Management & general 7% · $64K Fundraising 15% · $142K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Shannon Tiernan’s $67K as Exec Director is at the 11th percentile of top reported officer pay among 1691 $1–10M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

See Marshall Community Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Manages endowments and grants funds for community projects.

Provided by the organization

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1 program service account for $747K of program spending, described in the organization's own filed words · FY2020.
01

See attached detail

$747Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 5 funders →
Grants paid · 9 grants · $3.5M · 2019–2024
See Attached ScheduleFY2024$1,024,957
Unitemized GrantFY2024$238,794
See Attached ScheduleFY2023$584,387
Unitemized GrantFY2023$416,453
See Attached ScheduleFY2022$588,511
Unitemized GrantFY2022$223,435
Unitemized GrantFY2021$156,021
Unitemized GrantFY2020$127,190
Unitemized GrantFY2019$147,189

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$6.3M
Ln 12
Other incomeLn 4–11$3.0M
Gifts and grantsLn 1h$2.8M
Investment incomeLn 3$535K
Money outPt IX
$953K
Ln 25
Programscol B$747K
Managementcol C$64K
Fundraisingcol D$142K
Owns and owesPt X
$20.8M
net assets · Ln 32
Cash and savingsLn 1–2$941K
Total assetsLn 16$20.9M
LiabilitiesLn 26$64K
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.8M
Investment incomeLn 3$535K
Other incomeLn 4–11$3.0M
Total revenueLn 12$6.3M
Assets in detailPt X, end of year
CashLn 1$25K
SavingsLn 2$917K
Cash and savings togetherLn 1–2$941K
InvestmentsLn 11–13$19.9M
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$20.9M
LiabilitiesLn 26$64K
Net assetsLn 32$20.8M
OperationsPt I, VI
EmployeesI 55
VolunteersI 60
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$575K$941K
InvestmentsLn 11–13$14.9M$19.9M
Land, buildings, equipmentLn 10c$3K$0
Total assetsLn 16$15.5M$20.9M
LiabilitiesLn 26$22K$64K
Net assetsLn 32$15.4M$20.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$517K$517K
Grants to domestic individualsLn 2$127K$127K
Other salaries and wagesLn 7$143K$76K$35K$32K
Pension plan contributionsLn 8$4K$2K$1K$925
Other employee benefitsLn 9$179$95$44$40
Payroll taxesLn 10$11K$6K$3K$2K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$16K$16K
Advertising and promotionLn 12$16K$16K
Office expensesLn 13$5K$3K$1K$1K
OccupancyLn 16$3K$2K$731$668
Conferences, conventions and meetingsLn 19$2K$1K$470$429
Depreciation, depletion and amortizationLn 22$3K$1K$621$568
InsuranceLn 23$4K$2K$859$785
Other expenses (24a–d)Ln 24$96K$7K$2K$87K
All other expensesLn 24e$5K$3K$996$910
Total functional expensesLn 25$953K$747K$64K$142K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $1.9M$1.4M$475K$24.0M 990 PDF
FY2023 $2.0M$1.2M$833K$19.9M 990 PDF
FY2022 $1.8M$1.0M$790K$17.1M 990 PDF
FY2021 Viewing $6.3M$953K$5.4M$20.8M 990 PDF
FY2020 $1.0M$1.1M−$90K$15.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $6,309,360 across 6 lines filed
VIII-1f All other contributions, gifts and grants$2,810,439
VIII-1h Total contributions, gifts and grants$2,810,439
VIII-3 Investment incomeRelated to mission $534,724$534,724
VIII-8 Net income from fundraising eventsUnrelated business $103,850$103,850
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $2,860,347$2,860,347
VIII-12 Total revenueRelated to mission $3,395,071 · Unrelated business $103,850 · Excluded from tax $0$6,309,360
Part IX · Statement of functional expenses $953,290 across 16 lines filed
IX-1 Grants to domestic organizationsPrograms $517,448$517,448
IX-2 Grants to domestic individualsPrograms $127,190$127,190
IX-7 Other salaries and wagesPrograms $76,329 · Management $34,840 · Fundraising $31,859$143,028
IX-8 Pension plan contributionsPrograms $2,216 · Management $1,012 · Fundraising $925$4,153
IX-9 Other employee benefitsPrograms $95 · Management $44 · Fundraising $40$179
IX-10 Payroll taxesPrograms $5,914 · Management $2,700 · Fundraising $2,468$11,082
IX-11b Legal feesManagement $1,750$1,750
IX-11c Accounting feesManagement $15,992$15,992
IX-12 Advertising and promotionFundraising $15,645$15,645
IX-13 Office expensesPrograms $2,777 · Management $1,268 · Fundraising $1,158$5,203
IX-16 OccupancyPrograms $1,601 · Management $731 · Fundraising $668$3,000
IX-19 Conferences, conventions and meetingsPrograms $1,028 · Management $470 · Fundraising $429$1,927
IX-22 Depreciation, depletion and amortizationPrograms $1,360 · Management $621 · Fundraising $568$2,549
IX-23 InsurancePrograms $1,881 · Management $859 · Fundraising $785$3,525
IX-24 Other expenses (24a–d)Programs $6,524 · Management $2,394 · Fundraising $86,688$95,606
IX-24e All other expensesPrograms $3,107 · Management $996 · Fundraising $910$5,013
IX-25 Total functional expensesPrograms $747,470 · Management $63,677 · Fundraising $142,143$953,290
Part X · Balance sheet $20,852,807 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $67,526$24,722
X-2 Savings and temporary cash investmentsStart of year $507,955$916,646
X-10c Land, buildings and equipment, netStart of year $2,549$0
X-12 Other securitiesStart of year $14,876,962$19,911,439
X-16 Total assetsStart of year $15,454,992$20,852,807
X-17 Accounts payable and accrued expenses$63,927
X-25 Other liabilitiesStart of year $22,182$0
X-26 Total liabilitiesStart of year $22,182$63,927
X-27 Net assets without donor restrictionsStart of year $13,427,351$18,409,694
X-28 Net assets with donor restrictionsStart of year $2,005,459$2,379,186
X-32 Total net assets or fund balancesStart of year $15,432,810$20,788,880
X-33 Total liabilities and net assetsStart of year $15,454,992$20,852,807
Part XI · Reconciliation of net assets $20,788,880 net assets at year end
XI-1 Total revenue$6,309,360
XI-2 Total expenses$953,290
XI-3 Revenue less expenses$5,356,070
XI-4 Net assets at start of year$15,432,810
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$20,788,880

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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