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Southgate Properties FY2024 filing

Tax-deductible

Southgate, MI501(c)(3)Since 1994 EIN 38-3163460Revenue $2.7M in FY2024

On file with the IRSguidance-center.org13101 Allen Rd, 48195-2216 · Southgate, MITax-exempt since Jun 1994Supporting organization — 509(a)(3)

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To provide facilities and building services to related tax-exempt organizations.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2024 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $708K a year · 28% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
22 mo
of spending, in cash
Looks good: 22.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.7M
11% of total assets
Looks good: liabilities are 11% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.7M
+5% vs prior year
Spent
$2.1M
To programs
94%
Net assets
$14.9M
By yearFY2020–FY2025
Revenue
$2.7M
FY2024▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.3M
FY2021$2.3M
FY2022$2.5M
FY2023$2.6M
FY2024$2.7M
FY2025$2.9M
Expenses
$2.1M
FY2024▲ +9%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.4M
FY2021$1.4M
FY2022$1.7M
FY2023$1.9M
FY2024$2.1M
FY2025$2.4M
Net assets
$14.9M
FY2024▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$11.9M
FY2021$12.8M
FY2022$13.6M
FY2023$14.2M
FY2024$14.9M
FY2025$15.3M

From the FY2024 Form 990 (year ending September 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1994.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $2.0M Management & general 6% · $130K

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

11 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Ronald Moran
Chairperson
$0Pt VII · Sec A
Jerry Griffith
Vice Chairperson
$0Pt VII · Sec A
Joe Hoshaw
Secretary
$0Pt VII · Sec A
John Harwood
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Kari D Walker
CEO/President
$0Pt VII · Sec A
Gary Guetschow
Chief Financial Officer
$0Pt VII · Sec A
See Southgate Properties 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

Offers buildings and maintenance to other tax-exempt groups.

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Provided by the organization

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1 program · $2.0M · in their own filed words · FY2023
01

Provides rental facilities to related tax-exempt organizations.

$2.0Mprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.7M
Ln 12
Fees for servicesLn 2g$2.6M
Investment incomeLn 3$114K
Money outPt IX
$2.1M
Ln 25
Programscol B$2.0M
Managementcol C$130K
Owns and owesPt X
$14.9M
net assets · Ln 32
Cash and savingsLn 1–2$3.9M
Total assetsLn 16$16.6M
LiabilitiesLn 26$1.7M
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$2.6M
Investment incomeLn 3$114K
Total revenueLn 12$2.7M
Assets in detailPt X, end of year
SavingsLn 2$3.9M
Cash and savings togetherLn 1–2$3.9M
Land, buildings, equipmentLn 10c$10.9M
Other assetsLn 15$1.8M
Total assetsLn 16$16.6M
LiabilitiesLn 26$1.7M
Net assetsLn 32$14.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
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 FY24End FY24
Cash and savingsLn 1–2$3.4M$3.9M
Land, buildings, equipmentLn 10c$10.9M$10.9M
Total assetsLn 16$15.9M$16.6M
LiabilitiesLn 26$1.6M$1.7M
Net assetsLn 32$14.2M$14.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$295K$274K$22K
Other employee benefitsLn 9$99K$91K$8K
Legal feesLn 11b$360$360
Accounting feesLn 11c$16K$16K
Other fees for servicesLn 11g$3K$3K
Office expensesLn 13$636$636
OccupancyLn 16$1.0M$992K$45K
Depreciation, depletion and amortizationLn 22$617K$617K
Other expenses (24a–d)Ln 24$36K$36K
Total functional expensesLn 25$2.1M$2.0M$130K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.9M$2.4M$473K$15.3M 990 PDF
FY2024 Viewing $2.7M$2.1M$634K$14.9M 990 PDF
FY2023 $2.6M$1.9M$668K$14.2M 990 PDF
FY2022 $2.5M$1.7M$798K$13.6M 990 PDF
FY2021 $2.3M$1.4M$825K$12.8M 990 PDF
FY2020 $2.3M$1.4M$846K$11.9M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $2,738,415 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $2,541,164$2,624,546
I-10 Investment incomePrior year $32,809$113,869
I-11 Other revenuePrior year $31,008$0
I-12 Total revenuePrior year $2,604,981$2,738,415
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $341,153$393,944
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,596,112$1,709,994
I-18 Total expensesPrior year $1,937,265$2,103,938
I-19 Revenue less expensesPrior year $667,716$634,477
Part VI · Governance 6 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $2,738,415 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,624,546$2,624,546
VIII-3 Investment incomeExcluded from tax $113,869$113,869
VIII-12 Total revenueRelated to mission $2,624,546 · Unrelated business $0 · Excluded from tax $113,869$2,738,415
Part IX · Statement of functional expenses $2,103,938 across 9 lines filed
IX-7 Other salaries and wagesPrograms $273,684 · Management $21,560$295,244
IX-9 Other employee benefitsPrograms $91,154 · Management $7,546$98,700
IX-11b Legal feesManagement $360$360
IX-11c Accounting feesManagement $16,300$16,300
IX-11g Other fees for servicesManagement $3,174$3,174
IX-13 Office expensesManagement $636$636
IX-16 OccupancyPrograms $991,629 · Management $45,056$1,036,685
IX-22 Depreciation, depletion and amortizationPrograms $617,011$617,011
IX-24 Other expenses (24a–d)Management $35,828$35,828
IX-25 Total functional expensesPrograms $1,973,478 · Management $130,460 · Fundraising $0$2,103,938
Part X · Balance sheet $16,606,083 assets, 12 lines filed
X-2 Savings and temporary cash investmentsStart of year $3,426,559$3,876,734
X-4 Accounts receivableStart of year $5,865$5,419
X-9 Prepaid expenses and deferred chargesStart of year $81,988$82,192
X-10c Land, buildings and equipment, netStart of year $10,913,048$10,876,118
X-15 Other assetsStart of year $1,444,503$1,765,620
X-16 Total assetsStart of year $15,871,963$16,606,083
X-17 Accounts payable and accrued expensesStart of year $224,044$100,270
X-25 Other liabilitiesStart of year $1,421,676$1,645,093
X-26 Total liabilitiesStart of year $1,645,720$1,745,363
X-27 Net assets without donor restrictionsStart of year $14,226,243$14,860,720
X-32 Total net assets or fund balancesStart of year $14,226,243$14,860,720
X-33 Total liabilities and net assetsStart of year $15,871,963$16,606,083
Part XI · Reconciliation of net assets $14,860,720 net assets at year end
XI-1 Total revenue$2,738,415
XI-2 Total expenses$2,103,938
XI-3 Revenue less expenses$634,477
XI-4 Net assets at start of year$14,226,243
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$14,860,720

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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