Marketplace Square Condominium

Grand Rapids, MIUnknown exempt organizationEIN 37-1834499

The organization is a nonprofit corporation whose sole activity is to manage, operate, maintain and replace common elements of condominium property for the benefit of members.

Mission: Form 990 Part I, line 1

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 2
filings with a surplus
Average surplus $0 a year · under 1% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 5.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$23K
100% of total assets
Concern: liabilities are 100% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$51K
+25% vs prior year
Spent
$51K
To programs
0%
Net assets
$0
By yearFY2020–FY2021
Revenue
$51K
FY2021▲ +25%
Revenue by fiscal year
FY2020$41K
FY2021$51K
Expenses
$51K
FY2021▲ +25%
Expenses by fiscal year
FY2020$41K
FY2021$51K
Net assets
$0
FY2021
Net assets by fiscal year
FY2020$0
FY2021$0

From the FY2021 Form 990 · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2021.

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

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
See Marketplace Square Condominium 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Manages, operates, and maintains shared property for condominium owners.

Provided by the organization

This section is blank until Marketplace Square Condominium claims this page.

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1 program service, described in the organization's own filed words · FY2021.
01

The organization is a nonprofit corporation whose sole activity is to manage, operate, maintain and replace common elements of condominium property for the benefit of members.

Pt IX · col B

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By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$51K
Ln 12
Gifts and grantsLn 1h$51K
Money outPt IX
$51K
Ln 25
Owns and owesPt X
$0
net assets · Ln 32
Cash and savingsLn 1–2$23K
Total assetsLn 16$23K
LiabilitiesLn 26$23K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$51K
Total revenueLn 12$51K
Assets in detailPt X, end of year
CashLn 1$23K
Cash and savings togetherLn 1–2$23K
Total assetsLn 16$23K
LiabilitiesLn 26$23K
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$8K$23K
Total assetsLn 16$8K$23K
LiabilitiesLn 26$8K$23K
Net assetsLn 32$0$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$8K
Legal feesLn 11b$963
Accounting feesLn 11c$450
InsuranceLn 23$257
Other expenses (24a–d)Ln 24$37K
All other expensesLn 24e$4K
Total functional expensesLn 25$51K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest Viewing $51K$51K$0$0 990 PDF
FY2020 $41K$41K$0$0 990 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 $50,980 across 3 lines filed
VIII-1b Membership dues$50,980
VIII-1h Total contributions, gifts and grants$50,980
VIII-12 Total revenue$50,980
Part IX · Statement of functional expenses $50,980 across 6 lines filed
IX-11a Management fees$7,747
IX-11b Legal fees$963
IX-11c Accounting fees$450
IX-23 Insurance$257
IX-24 Other expenses (24a–d)$37,227
IX-24e All other expenses$4,336
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$50,980
Part X · Balance sheet $23,458 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $7,575$22,687
X-9 Prepaid expenses and deferred charges$771
X-16 Total assetsStart of year $7,575$23,458
X-17 Accounts payable and accrued expenses$7,379
X-19 Deferred revenueStart of year $7,575$16,079
X-26 Total liabilitiesStart of year $7,575$23,458
X-32 Total net assets or fund balancesStart of year $0$0
X-33 Total liabilities and net assetsStart of year $7,575$23,458
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$50,980
XI-2 Total expenses$50,980
XI-3 Revenue less expenses$0
XI-10 Net assets at end of year$0

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

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