McCt INC EIN 38-3636933

McCt INC FY2023 filing

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Preserves and maintains a civic center for community cultural and social enrichment. For fiscal year 2023 it reported $462K in revenue, $577K in expenses, and $454K in net assets.Pt I

Type
Public charity (501(c)(3)) · Arts & Culture
Location
Marshall, MI
Website
www.frankecenterforthearts.org
Filings
5 on file (2020–2023)
Revenue
$462KFY2023
Expenses
$577K
Net assets
$454K
People
11
Filings
5
Updates
0
More identity details & actions ⌄
EIN  38-3636933 Public charity (501(c)(3)) Marshall, MI
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Preserves and maintains a civic center for community cultural and social enrichment.
Leadership
Jacob Gates · Executive Director · $66K
Money in and out
$462K revenue, $577K expenses
Bottom line
57% program efficiency
Where the money goes · FY2023
Total revenue
$462K
Pt VIII · Ln 12
Total expenses
$577K
Pt IX · Ln 25
Net assets
$454K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$115K
Where spending went · Part IX cols B–D
Program services $0.57 Management & general $0.41 Fundraising $0.02
Program efficiency
57%
of spending reaches programs
Operating runway
3.9mo
months of highly liquid reserves at operating expense rate
Surplus margin
-25%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$462K
FY2023▼ -17%
Expenses
$577K
FY2023▼ -4%
Total assets
$607K
FY2023▼ -13%
Total liabilities
$153K
FY2023▲ +24%
Total revenue
$462K
Pt VIII · Ln 12
Total expenses
$577K
Pt IX · Ln 25
Net assets
$454K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$115K
Total assetsPt X · Ln 16$607K
Program-expense ratioPt IX · col B57%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 410
Mission & Programs · Part III

Where the work happens

3 program services account for $329K of program spending, described in the organization's own filed words · FY2022.
01

To provide a variety of artistic performances to the greater community

$154Kprogram expense
02

To provide arts education and participation opportunities to the greater community

$112Kprogram expense
03

Provide venue for various plays and programs to enrich the local community with the arts and arts education

$62Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CMcCt INC
EINHdr · item D38-3636933
Principal addressHdr · item CMarshall, MI
WebsiteHdr · item Jwww.frankecenterforthearts.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMI
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A70)
Ruling yearIRS BMFJul 2002

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a10
Independent voting membersPt VI · Ln 1b10
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Executive Director
$66,029Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Jacob Gates’s $69K as Executive Director is at the 64th percentile of top reported officer pay among 2213 $100K–1M arts & culture 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.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Jacob Gates$69,457$66,029$62,954$61,454$60,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Program service revenue$227K · 49%
Contributions & grants$163K · 35%
Other revenue$53K · 11%
Investment income$19K · 4%
Program service revenue49%$227K
Contributions & grants35%$163K
Other revenue11%$53K
Investment income4%$19K
— government grantsLn 1e$16K
Total revenueLn 12$462K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.57 Management & general $0.41 Fundraising $0.02
Program services57%$329K
Management & general41%$238K
Fundraising2%$11K
Total functional expensesLn 25$577K

Balance Sheet

Part X · end of year
CashLn 1$34K
Total assetsLn 16$607K
Total liabilitiesLn 26$153K
Total net assetsLn 32$454K
Months of cash on handcomputed0.7

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $189K · Operating expenses (Pt IX) $577K · Less non-cash grants $280 · Cash operating expenses/yr $577K
3.9 months
Where the money goes
Program services
Program services $329K · Total expenses $577K
57%
Management & General
Management & general $238K · Total expenses $577K
41%
Fundraising
Fundraising $11K · Total expenses $577K
2%
Cost to raise $1
Fundraising expense (3-yr avg) $6K · Solicited contributions (3-yr avg) $178K
$0.03 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $163K · Total revenue $462K
35%
Government reliance
Government grants $16K · Total revenue $462K
4%
Earned-income share
Program service revenue $227K · Total revenue $462K
49%
Investment reliance
Investment income $19K · Total revenue $462K
+4%
Program self-sufficiency
Program service revenue $227K · Total expenses $577K
39%
Growth & trend
Revenue growth (YoY)
This year $462K · Prior year $555K
-17%
Net-asset trend (YoY)
End of year $454K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $462K · Expenses $577K
-25%
Liabilities-to-Assets
Total liabilities — · Total assets $607K
Net-asset ratio
Net assets $454K · Total assets $607K
75%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $154K · Total assets (Pt X, ln 16) $607K
25%
People & payroll
Highest Reported Total Compensation
Individual Jacob Gates · Reported title Executive Director · Highest reported compensation $66K · Total expenses $577K
11%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $139K · Total expenses $577K
24%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 57%
Overhead ratio 41%
Fundraising cost ratio 6%
Revenue growth -17%
Accounting fee ratio 4%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$8K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$437K revenue · ⤓ 990 PDF
FY2023$462K revenue · viewing · ⤓ 990 PDF
FY2022$555K revenue · ⤓ 990 PDF
FY2021$376K revenue · ⤓ 990 PDF
FY2020$301K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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