Civic Intelligence

The Mighell Fund Inc

990 • Fiscal year 2020 • EIN 36-1868692

Jul 01, 2019 to Jun 30, 2020 • Filed on Nov 03, 2020

495 North Lake StreetAurora, IL 60506-4156

(630) 896-5031

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

50th percentile

0.10x

Higher debt load relative to assets than 50% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

67th percentile

0.28x

Higher debt load relative to revenue than 67% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

19th percentile

-14%

Higher net margin than 19% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

79th percentile

$128,734

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 8.3% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

35th percentile

0.8%

Faster asset growth than 35% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

45th percentile

-1.5%

Faster revenue growth than 45% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Up

$4,255,574

Up $35,542 (+0.8%) from 2019

Net Assets

Down

$3,825,414

Down $159,381 (-4.0%) from 2019

Liabilities

Up

$430,160

Up $194,923 (+83%) from 2019

Revenue

Down

$1,554,178

Down $23,732 (-1.5%) from 2019

Expenses

Up

$1,769,633

Up $95,958 (+5.7%) from 2019

Net Income

Down

-$215,455

Down $119,690 (-125%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2017: $3,216,290Liabilities 2017: $230,061Net Assets 2017: $2,986,2292017Assets 2018: $4,232,451Liabilities 2018: $243,610Net Assets 2018: $3,988,8412018Assets 2019: $4,220,032Liabilities 2019: $235,237Net Assets 2019: $3,984,7952019Assets 2020: $4,255,574Liabilities 2020: $430,160Net Assets 2020: $3,825,4142020Assets 2021: $4,619,596Liabilities 2021: $293,305Net Assets 2021: $4,326,2912021Assets 2022: $4,077,697Liabilities 2022: $234,834Net Assets 2022: $3,842,8632022Assets 2023: $3,982,315Liabilities 2023: $260,074Net Assets 2023: $3,722,2412023Assets 2024: $3,976,280Liabilities 2024: $312,338Net Assets 2024: $3,663,9422024Assets 2025: $3,727,109Liabilities 2025: $277,894Net Assets 2025: $3,449,2152025

Highlighted filing

2020

Assets$4,255,574
Liabilities$430,160
Net Assets$3,825,414

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2017: $1,751,743Expenses 2017: $1,699,584Net Income 2017: $52,1592017Revenue 2018: $2,638,506Expenses 2018: $1,710,420Net Income 2018: $928,0862018Revenue 2019: $1,577,910Expenses 2019: $1,673,675Net Income 2019: -$95,7652019Revenue 2020: $1,554,178Expenses 2020: $1,769,633Net Income 2020: -$215,4552020Revenue 2021: $1,915,606Expenses 2021: $1,851,725Net Income 2021: $63,8812021Revenue 2022: $1,773,902Expenses 2022: $1,880,018Net Income 2022: -$106,1162022Revenue 2023: $1,762,422Expenses 2023: $2,052,605Net Income 2023: -$290,1832023Revenue 2024: $1,859,107Expenses 2024: $2,093,862Net Income 2024: -$234,7552024Revenue 2025: $1,912,750Expenses 2025: $2,168,303Net Income 2025: -$255,5532025

Highlighted filing

2020

Revenue$1,554,178
Expenses$1,769,633
Net Income-$215,455
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Nov 3, 2020
Return Version
2019v5.0
Gross Receipts
$1,916,515
Mission and Program Overview

Mission

The mighell fund's purpose is to provide a secure environment for active, mature adults who want to live independently, where individualism is encouraged and respected.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,408,696$2,065,093▼ $343,603
Land, Buildings, and Equipment, Net$1,713,981$1,998,109▲ $284,128
Savings and Temporary Cash Investments$35,244$125,789▲ $90,545
Inventories for Sale or Use$39,456$40,672▲ $1,216
Prepaid Expenses and Deferred Charges$14,565$14,245▼ $320
Accounts Receivable$4,864$7,719▲ $2,855
Cash and Non-Interest-Bearing Accounts$3,226$3,947▲ $721
Total Assets$4,220,032$4,255,574▲ $35,542
Liabilities
Other Liabilities$136,090$268,825▲ $132,735
Accounts Payable and Accrued Expenses$95,160$159,140▲ $63,980
Deferred Revenue$3,987$2,195▼ $1,792
Total Liabilities$235,237$430,160▲ $194,923
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,967,058$3,808,523▼ $158,535
Net Assets With Donor Restrictions$17,737$16,891▼ $846
Total Net Assets Fund Balance$3,984,795$3,825,414▼ $159,381
Total Liabilities and Net Assets / Fund Balance$4,220,032$4,255,574▲ $35,542

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,603,656$3,698,251$5,301,907
Equipment$167,419$685,799$853,218
Other Land Buildings$113,434$72,993$186,427
Land$113,600-$113,600
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Donald MangersExec DirectoFT$108,855$19,879$128,734

Board Members and Trustees

NameTitle
John CordoganPresident
Amy BaudouinDirector
Brian KonenDirector
Janet MomperDirector
Kathi LimogesDirector
Matthew DarlingDirector
Scott VanduzorDirector
Terry FoxDirector
Stewart BeachSecretary
Mark TruemperTreasurer
Linda PilmerVice Pres.

Highest Paid Contractors

ContractorServicesLocationCompensation
Vanduzor ConstructionConstruction2212 ROCKWELL, Aurora, IL 60506$443,213
Revenue and Support

Revenue Composition

Contributions and Grants
$23,750
Program Service Revenue
$1,460,292
Investment Income
$70,136
Other Revenue
$0
All Other Contributions
$23,750
Change in Net Assets
$-215,455

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,534,620
Revenue Not Reported on Financial Statements
$19,558
Revenue Not Reported on Form 990
$56,074
Other Revenue Adjustments
$19,558
Total Revenue per Audited Statements
$1,590,694
Total Revenue per Form 990
$1,554,178
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$960,888
Other Expenses$808,745
Total Fundraising Expense$3,470
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$636,234$58,643-$694,877
Depreciation Depletion$238,753$1,426-$240,179
Current Officers, Directors, Trustees, and Key Employees$70,256$70,256$2,755$143,267
Occupancy$133,338--$133,338
Payroll Taxes$53,260$8,967$176$62,403
Other Employee Benefits$43,317$6,235-$49,552
All Other Expenses$42,394$3,196-$45,590
Advertising-$26,752-$26,752
Other Expenses$24,055--$24,055
Insurance$18,892$4,100-$22,992
Office Expenses$2,441$17,296$539$20,276
Fees for Service Investment Mgmnt Fees-$19,558-$19,558
Fees for Services Accounting-$11,650-$11,650
Pension Plan Contributions$8,688$2,101-$10,789
Interest$95--$95
Total Functional Expenses$1,535,983$230,180$3,470$1,769,633

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,769,633
Expenses per Audited Statements$1,750,075
Total Expenses per Audited Statements$1,750,075
Expenses Not Reported on Financial Statements$19,558
Other Expense Adjustments$19,558
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-DirectorConstruction SvcsNo$443,213
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Advance$136,400
Deposits$132,425
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The form 990 is emailed to each board member for review. At a subsequent board meeting, the board discusses and approves the return. Upon approval of the board, the form 990 is signed and filed.

Form 990, Page 6, Part VI, Line 12C

The conflict of interest policy is distributed and a statement including disclosures of conflicts is completed and signed by board members on an annual basis. Should the board determine a conflict of interest may exist, the interested person would be asked to leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest.

Form 990, Page 6, Part VI, Line 15A

The executive director's compensation is determined by the board of directors or compensation committee.

Form 990, Page 6, Part VI, Line 19

Governing documents, conflict of interest policy, and the organization's financial statements are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
The Mighell Fund Inc
EIN
36-1868692
Phone
6308965031
Address
495 NORTH LAKE STREET, AURORA, IL 60506-4156

Signing Officer

Name
Donald Mangers
Title
Exec Director
Phone
6308965031
Signed
2020-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donald Mangers
Formed
1964
Voting Board Members
10
Independent Board Members
9
Employees
51

Preparer

Firm
WEBER & ASSOCIATES CPA'S
Address
314 N LAKE ST STE 1B, AURORA, IL 60506-4086
Preparer
Thomas a Weber
Phone
6308974500
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The mighell fund's purpose is to provide a secure environment for active, mature adults who want to live independently, where individualism is encouraged and respected.

Form 990, Part XI, Line 9

Investment return reported 0 net of fees on financial stmt -19,558 investment fees included in net 0 return on financial stmt 19,558

Financial Statement Notes

Schedule D, Page 3, Part X

The organization has adopted guidance issued by the financial accounting standards board (fasb) relating to uncertain tax positions. The organization's policy is to classify income tax related interest and penalties in interest expense and other expenses, respectively. The tax years 2017, 2018 and 2019 for income tax returns filed in the u.s. Federal jurisdiction and the state of illinois (the organization's major tax jurisdictions) remain open and subject to examination. The organization has analyzed tax positions taken and believes that income tax filing positions would be sustained upon examination and does not anticipate any adjustments that would have a material adverse effect on the organization's financial condition, results of operations or cash flows. There were no interest or penalties recognized for uncertain tax positions duriing the year ended june 30, 2020 and there were no accruals for interest or penalties at june 30, 2020.

Schedule D, Page 4, Part XI, Line 4B

Investment return reported 0 net of fees on financial stmt 19,558

Schedule D, Page 4, Part XII, Line 4B

Investment fees included in net 0 return on financial stmt 19,558

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