Civic Intelligence

The Mighell Fund Inc

990 • Fiscal year 2023 • EIN 36-1868692

Jul 01, 2022 to Jun 30, 2023 • Filed on Nov 03, 2023

Organization ProfileWWW.PLUMLANDING.ORG

View Organization Page

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

0.07x

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

60th percentile

0.15x

Higher debt load relative to revenue than 60% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

18th percentile

-16%

Higher net margin than 18% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

69th percentile

$104,541

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 5.9% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

28th percentile

-2.3%

Faster asset growth than 28% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

37th percentile

-0.6%

Faster revenue growth than 37% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets50th percentile

Assets

Down

$3,982,315

Down $95,382 (-2.3%) from 2022

Net Assets

Down

$3,722,241

Down $120,622 (-3.1%) from 2022

Liabilities

Up

$260,074

Up $25,240 (+11%) from 2022

Revenue And Expenses
Liabilities / Revenue60th percentileNet Margin18th percentile

Revenue

Down

$1,762,422

Down $11,480 (-0.6%) from 2022

Expenses

Up

$2,052,605

Up $172,587 (+9.2%) from 2022

Net Income

Down

-$290,183

Down $184,067 (-173%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth28th percentile

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

2023

Assets$3,982,315
Liabilities$260,074
Net Assets$3,722,241
Open 2023 Filing

Operations Trend

Revenue Growth37th percentile

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

2023

Revenue$1,762,422
Expenses$2,052,605
Net Income-$290,183
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Nov 3, 2023
Return Version
2022v5.0
Gross Receipts
$2,220,906
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$2,139,209$2,043,376▼ $95,833
Land, Buildings, and Equipment, Net$1,801,699$1,863,989▲ $62,290
Inventories for Sale or Use$43,670$44,679▲ $1,009
Savings and Temporary Cash Investments$47,002$16,081▼ $30,921
Accounts Receivable$5,079$10,170▲ $5,091
Prepaid Expenses and Deferred Charges$34,770$2,531▼ $32,239
Cash and Non-Interest-Bearing Accounts$6,268$1,489▼ $4,779
Total Assets$4,077,697$3,982,315▼ $95,382
Liabilities
Other Liabilities$136,510$151,930▲ $15,420
Accounts Payable and Accrued Expenses$84,482$103,078▲ $18,596
Deferred Revenue$13,842$5,066▼ $8,776
Total Liabilities$234,834$260,074▲ $25,240
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,754,882$3,688,920▼ $65,962
Net Assets With Donor Restrictions$87,981$33,321▼ $54,660
Total Net Assets Fund Balance$3,842,863$3,722,241▼ $120,622
Total Liabilities and Net Assets / Fund Balance$4,077,697$3,982,315▼ $95,382

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,543,146$4,316,189$5,859,335
Equipment$170,943$773,145$944,088
Land$113,600-$113,600
Other Land Buildings$36,300$57,113$93,413
Compensation and Service Providers
Top Officer Pay69th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Alex HaugheeExecutive DiFT$101,606$2,935$104,541

Board Members and Trustees

NameTitle
John CordoganPresident
Amy BaudouinDirector
Brian KonenDirector
Janet MomperDirector
Kathi LimogesDirector
Stewart BeachSecretary
Mark TruemperTreasurer
Linda PilmerVice Pres.
Revenue and Support

Revenue Composition

Contributions and Grants
$32,502
Program Service Revenue
$1,677,262
Investment Income
$52,658
Other Revenue
$0
All Other Contributions
$32,502
Change in Net Assets
$-290,183

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,743,131
Revenue Not Reported on Financial Statements
$19,291
Revenue Not Reported on Form 990
$169,561
Total Revenue per Audited Statements
$1,912,692
Total Revenue per Form 990
$1,762,422
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,127,315
Other Expenses$925,290
Total Fundraising Expense$2,406
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$734,385$130,935-$865,320
Depreciation Depletion$238,839$12,571-$251,410
Occupancy$132,556--$132,556
Current Officers, Directors, Trustees, and Key Employees$51,265$51,265$2,010$104,540
Payroll Taxes$62,325$13,807$149$76,281
All Other Expenses$50,692$16,035-$66,727
Other Employee Benefits$52,889$13,221-$66,110
Other Expenses$30,787--$30,787
Insurance$25,129$1,891-$27,020
Office Expenses$3,228$21,853$247$25,328
Advertising-$25,128-$25,128
Fees for Service Investment Mgmnt Fees-$19,291-$19,291
Pension Plan Contributions$15,064--$15,064
Fees for Services Accounting-$13,995-$13,995
Interest$30--$30
Total Functional Expenses$1,730,207$319,992$2,406$2,052,605

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,052,605
Expenses per Audited Statements$2,033,314
Total Expenses per Audited Statements$2,033,314
Expenses Not Reported on Financial Statements$19,291
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deposits$151,930
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
No
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
Alex Haughee
Title
Executive Director
Phone
6308965031
Signed
2023-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alex Haughee
Formed
1964
Voting Board Members
8
Independent Board Members
8
Employees
55

Preparer

Firm
WEBER & ASSOCIATES CPA'S
Address
314 N LAKE ST STE 1B, AURORA, IL 60506-4086
Preparer
Gabriela Fedmasu
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.”

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 2020, 2021 and 2022 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 during the year ended june 30, 2023 and there were no accruals for interest or penalties at june 30, 2023.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE 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 2020, 2021 AND 2022 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 DURING THE YEAR ENDED JUNE 30, 2023 AND THERE WERE NO ACCRUALS FOR INTEREST OR PENALTIES AT JUNE 30, 2023.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE EXECUTIVE DIRECTOR'S COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS OR COMPENSATION COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND THE ORGANIZATION'S FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,982,315
Liabilities
$260,074
Net assets
$3,722,241
Revenue
$1,762,422
Expenses
$2,052,605
Net income
-$290,183
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.73$0.28$3.45$1.91$2.17$0.26
2024Detailed filing. Detailed filing data is available for this year.$3.98$0.31$3.66$1.86$2.09$0.23
2023Detailed filing. Detailed filing data is available for this year.$3.98$0.26$3.72$1.76$2.05$0.29
2022Detailed filing. Detailed filing data is available for this year.$4.08$0.23$3.84$1.77$1.88$0.11
2021Detailed filing. Detailed filing data is available for this year.$4.62$0.29$4.33$1.92$1.85$0.06
2020Detailed filing. Detailed filing data is available for this year.$4.26$0.43$3.83$1.55$1.77$0.22
2019Detailed filing. Detailed filing data is available for this year.$4.22$0.24$3.98$1.58$1.67$0.10
2018Detailed filing. Detailed filing data is available for this year.$4.23$0.24$3.99$2.64$1.71$0.93
2017Detailed filing. Detailed filing data is available for this year.$3.22$0.23$2.99$1.75$1.70$0.05