Civic Intelligence

Mbi Real Estate

EIN 37-1535341 • 501(c)2 • Hudson, OH

Profile

The corporation was formed for the exclusive purpose of holding title to property and interests in real estate, collecting income therefrom, and turning over the entire amount less expensees to its parent organization, the margaret clark morgan foundation.

53 First StreetHudson, OH 44236

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

41st percentile

0.07x

Higher debt load relative to assets than 41% of similar nonprofits.

501(c)2 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

72nd percentile

11.89x

Higher debt load relative to revenue than 72% of similar nonprofits.

501(c)2 • $10M-$25M nonprofits • Source year 2024

Net Margin

15th percentile

-121%

Higher net margin than 15% of similar nonprofits.

501(c)2 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

66th percentile

$386,488

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 381.1% of source-year revenue.

501(c)2 • $10M-$25M nonprofits • Source year 2024

Asset Growth

96th percentile

69%

Faster asset growth than 96% of similar nonprofits.

501(c)2 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets41st percentile

Assets

Up

$16,691,321

Up $6,793,408 (+69%) from 2023

Liabilities

Up

$1,205,835

Up $1,205,835 from 2023

Net Assets

Up

$15,485,486

Up $5,587,573 (+56%) from 2023

Operations
Liabilities / Revenue72nd percentileNet Margin15th percentile

Revenue

Up

$101,410

Up $148,573 (+315%) from 2023

Expenses

Up

$224,615

Up $224,615 from 2023

Net Income

Down

-$123,205

Down $76,042 (-161%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth96th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$15M$10M$5.0M$0Assets 2010: $3,040,760Liabilities 2010: $298,953Net Assets 2010: $2,741,8072010Assets 2011: $3,063,263Liabilities 2011: $321,456Net Assets 2011: $2,741,8072011Assets 2012: $4,794,070Liabilities 2012: $369,928Net Assets 2012: $4,424,1422012Assets 2013: $4,911,302Liabilities 2013: $487,160Net Assets 2013: $4,424,1422013Assets 2014: $4,820,645Liabilities 2014: $230,139Net Assets 2014: $4,590,5062014Assets 2015: $4,969,008Liabilities 2015: $378,502Net Assets 2015: $4,590,5062015Assets 2016: $4,843,011Liabilities 2016: $252,505Net Assets 2016: $4,590,5062016Assets 2017: $4,895,696Liabilities 2017: $305,190Net Assets 2017: $4,590,5062017Assets 2018: $4,850,503Liabilities 2018: $259,997Net Assets 2018: $4,590,5062018Assets 2019: $4,925,439Liabilities 2019: $334,933Net Assets 2019: $4,590,5062019Assets 2020: $6,301,206Liabilities 2020: $404,070Net Assets 2020: $5,897,1362020Assets 2021: $6,199,982Liabilities 2021: $302,846Net Assets 2021: $5,897,1362021Assets 2022: $7,240,288Liabilities 2022: $368,094Net Assets 2022: $6,872,1942022Assets 2023: $9,897,913Liabilities 2023: $0Net Assets 2023: $9,897,9132023Assets 2024: $16,691,321Liabilities 2024: $1,205,835Net Assets 2024: $15,485,4862024

Highlighted filing

2024

Assets$16,691,321
Liabilities$1,205,835
Net Assets$15,485,486
Open 2024 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $62,9152010Expenses 2011: $85,3302011Expenses 2012: $86,2852012Revenue 2013: $200,670Expenses 2013: $200,670Net Income 2013: $02013Revenue 2014: $98,943Expenses 2014: $98,943Net Income 2014: $02014Revenue 2015: $147,935Expenses 2015: $147,935Net Income 2015: $02015Revenue 2016: $117,818Expenses 2016: $117,818Net Income 2016: $02016Revenue 2017: $142,759Expenses 2017: $142,759Net Income 2017: $02017Revenue 2018: $121,462Expenses 2018: $121,462Net Income 2018: $02018Revenue 2019: $86,551Expenses 2019: $86,551Net Income 2019: $02019Revenue 2020: $64,861Expenses 2020: $64,861Net Income 2020: $02020Revenue 2021: $46,661Expenses 2021: $46,661Net Income 2021: $02021Revenue 2022: $975,058Expenses 2022: $0Net Income 2022: $975,0582022Revenue 2023: -$47,163Expenses 2023: $0Net Income 2023: -$47,1632023Revenue 2024: $101,410Expenses 2024: $224,615Net Income 2024: -$123,2052024

Highlighted filing

2024

Revenue$101,410
Expenses$224,615
Net Income-$123,205
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$16,691,321
Liabilities
$1,205,835
Net assets
$15,485,486
Revenue
$101,410
Expenses
$224,615
Net income
-$123,205
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$16.7$1.21$15.5$0.10$0.22$0.12
2023Detailed filing. Detailed filing data is available for this year.$9.90$0.00$9.90$0.05$0.00$0.05
2022Detailed filing. Detailed filing data is available for this year.$7.24$0.37$6.87$0.98$0.00$0.98
2021Detailed filing. Detailed filing data is available for this year.$6.20$0.30$5.90$0.05$0.05$0.00
2020Detailed filing. Detailed filing data is available for this year.$6.30$0.40$5.90$0.06$0.06$0.00
2019Detailed filing. Detailed filing data is available for this year.$4.93$0.33$4.59$0.09$0.09$0.00
2018Detailed filing. Detailed filing data is available for this year.$4.85$0.26$4.59$0.12$0.12$0.00
2017Detailed filing. Detailed filing data is available for this year.$4.90$0.31$4.59$0.14$0.14$0.00
2016Detailed filing. Detailed filing data is available for this year.$4.84$0.25$4.59$0.12$0.12$0.00
2015Detailed filing. Detailed filing data is available for this year.$4.97$0.38$4.59$0.15$0.15$0.00
2014Detailed filing. Detailed filing data is available for this year.$4.82$0.23$4.59$0.10$0.10$0.00
2013Detailed filing. Detailed filing data is available for this year.$4.91$0.49$4.42$0.20$0.20$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.79$0.37$4.42$0.09
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.06$0.32$2.74$0.09
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.04$0.30$2.74$0.06
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 5, 2025
Return Version
2024v5.2
Gross Receipts
$101,410
Mission and Program Overview

Mission

The corporation was formed for the exclusive purpose of holding title to property and interests in real estate, collecting income therefrom, and turning over the entire amount less expensees to its parent organization, the margaret clark morgan foundation.

Exclusive purpose of holding title to property and interests in real estate, collecting income therefrom, and turning over the amount less expenses to its parent, the margaret clark morgan foundation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,611,044$16,220,806▲ $7,609,762
Savings and Temporary Cash Investments$1,282,284$465,930▼ $816,354
Accounts Receivable$4,585$4,585→ $0
Total Assets$9,897,913$16,691,321▲ $6,793,408
Liabilities
Accounts Payable and Accrued Expenses$0$1,205,835▲ $1,205,835
Total Liabilities$0$1,205,835▲ $1,205,835
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$9,897,913$15,485,486▲ $5,587,573
Total Net Assets Fund Balance$9,897,913$15,485,486▲ $5,587,573
Total Liabilities and Net Assets / Fund Balance$9,897,913$16,691,321▲ $6,793,408

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$14,848,543$124,475$14,973,018
Land$1,372,263-$1,372,263
Compensation and Service Providers
Top Officer Pay66th percentile

Employees

NameTitleOtherTotal
Robert KallstromTrustee$28,000$28,000
William McgrawTrustee$28,000$28,000

Board Members and Trustees

NameTitle
Rick KellarPresident

Highest Paid Contractors

ContractorServicesLocationCompensation
Brenan Manna DiamondConsulting75 E MARKET ST, Akron, OH 44308$131,499
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$101,410
Other Revenue
$0
Change in Net Assets
$-123,205
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$224,615
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal---$131,499
Depreciation Depletion---$82,976
Occupancy---$10,043
Office Expenses---$97
Total Functional Expenses$0$0$0$224,615
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
Subject to proxy tax
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“There are currently no other committees. If other committees are convened, documentation will be maintained.”

Form 990, Part VI, Section B, Line 11B

“Copies of the form 990 are distributed to the governing body, or designee of the governing body, prior to filing.”

Form 990, Part VI, Section B, Line 12C

“Review of disclosures and legal counsel briefing/training are held annually.”

Form 990, Part VI, Section B, Line 15

“Mbi does not pay any officers or employees. However, the board of a related entity utilizes a compensation committee, independent compensation consultant, form 990s of other organizations, written employment contract, compensation survey, and overall approval by the entire board to determine the president's compensation.”

Form 990, Part VI, Section C, Line 19

“Document access is limited to what is required by law, and would be available for inspection upon request.”

Filing and Contact Details

Filer

Filer Name
Mbi Real Estate
EIN
37-1535341
Phone
3306551366
Address
53 FIRST STREET, HUDSON, OH 44236

Signing Officer

Name
Rick Kellar
Title
President
Phone
3306551366
Signed
2025-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rick Kellar
Formed
2007
Legal Domicile
Oh
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Sikich LLC
Address
4020 KINROSS LAKES PARKWAY SUITE, 300, RICHFIELD, OH 44286
Preparer
Jill M Boyle CPA
Phone
3308646661
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Net asset transfer from related entity 5,710,778.”

Financial Statement Notes

PART X, LINE 2:

“The foundation is exempt from federal income taxes under the current provisions of section 501(c)(3) of the internal revenue code, and is a private foundation within the meaning of section 509(a). The organization is subject to federal excise tax on certain portions of its investment income. Mbi is exempt from income taxes under section 501(c)(2) of the internal revenue code. The foundation and mbi real estate follow guidance issued by the financial accounting standards board (fasb) on accounting for income taxes, and has evaluated its tax positions, expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings, and believes that no provision for income taxes is necessary to cover uncertain tax positions. The foundation's return for tax years 2021 and later remain subject to examination by taxing authorities.”

Raw XML Appendix325 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0386488
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0RELATED ENTITY UTILIZES A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990S OF OTHER ORGANIZATIONS, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY, AND OVERALL APPROVAL BY THE ENTIRE BOARD TO DETERMINE THE PRESIDENT'S COMPENSATION.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE CURRENTLY NO OTHER COMMITTEES. IF OTHER COMMITTEES ARE CONVENED, DOCUMENTATION WILL BE MAINTAINED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COPIES OF THE FORM 990 ARE DISTRIBUTED TO THE GOVERNING BODY, OR DESIGNEE OF THE GOVERNING BODY, PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REVIEW OF DISCLOSURES AND LEGAL COUNSEL BRIEFING/TRAINING ARE HELD ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MBI DOES NOT PAY ANY OFFICERS OR EMPLOYEES. HOWEVER, THE BOARD OF A RELATED ENTITY UTILIZES A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990S OF OTHER ORGANIZATIONS, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY, AND OVERALL APPROVAL BY THE ENTIRE BOARD TO DETERMINE THE PRESIDENT'S COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENT ACCESS IS LIMITED TO WHAT IS REQUIRED BY LAW, AND WOULD BE AVAILABLE FOR INSPECTION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NET ASSET TRANSFER FROM RELATED ENTITY 5,710,778.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd01
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0THE MARGARET CLARK MORGAN FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0341948246
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0PF
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt053 FIRST STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0HUDSON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd044236
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd01
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt09897913
IRS990/TotalAssetsEOYAmt016691321
IRS990/TotalAssetsGrp/BOYAmt09897913
IRS990/TotalAssetsGrp/EOYAmt016691321
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0224615
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt01205835
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt01205835
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt09897913
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt015485486
IRS990/TotalOtherCompensationAmt048488
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0101410
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0101410
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt09897913
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt016691321
IRS990/TotReportableCompRltdOrgAmt0394000
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt053 FIRST STREET
IRS990/USAddress/CityNm0HUDSON
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd044236
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RICK KELLAR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03306551366
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MBI REAL ESTATE
ReturnHeader/Filer/BusinessNameControlTxt0MBIR
ReturnHeader/Filer/EIN0371535341
ReturnHeader/Filer/PhoneNum03306551366
ReturnHeader/Filer/USAddress/AddressLine1Txt053 FIRST STREET
ReturnHeader/Filer/USAddress/CityNm0HUDSON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH
ReturnHeader/Filer/USAddress/ZIPCd044236
ReturnHeader/Form8822BAttachedInd0X
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0363168081
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SIKICH LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04020 KINROSS LAKES PARKWAY SUITE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine2Txt0300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0RICHFIELD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd044286
ReturnHeader/PreparerPersonGrp/PhoneNum03308646661
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JILL M BOYLE CPA
ReturnHeader/ReturnTs02025-11-06T08:29:14-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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