Civic Intelligence

Mackinac Island Community Foundation

EIN 38-3179612 • 501(c)3 • Mackinac Island, MI

Profile

The mackinac island community foundation promotes the general well-being of island residents and visitors, by working in community partnerships to generate endowed and un-endowed funds and stimulate community-wide initiatives.

PO Box 933Mackinac Island, MI 49757

www.micf.org

Siviq Scores

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

Liabilities / Assets

24th percentile

0.03x

Higher debt load relative to assets than 24% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

44th percentile

0.18x

Higher debt load relative to revenue than 44% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

93rd percentile

64%

Higher net margin than 93% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

37th percentile

$72,406

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 1.9% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

78th percentile

17%

Faster asset growth than 78% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

93rd percentile

96%

Faster revenue growth than 93% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$21,885,225

Up $3,242,567 (+17%) from 2023

Liabilities

Up

$676,674

Up $88,129 (+15%) from 2023

Net Assets

Up

$21,208,551

Up $3,154,438 (+17%) from 2023

Revenue

Up

$3,853,715

Up $1,887,659 (+96%) from 2023

Expenses

Up

$1,404,260

Up $374,852 (+36%) from 2023

Net Income

Up

$2,449,455

Up $1,512,807 (+162%) from 2023

Trend Graphs

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2010: $5,657,564Liabilities 2010: $0Net Assets 2010: $5,657,5642010Assets 2011: $6,100,832Liabilities 2011: $0Net Assets 2011: $6,100,8322011Assets 2012: $6,938,500Liabilities 2012: $0Net Assets 2012: $6,938,5002012Assets 2013: $8,353,540Liabilities 2013: $0Net Assets 2013: $8,353,5402013Assets 2014: $9,944,621Liabilities 2014: $0Net Assets 2014: $9,944,6212014Assets 2015: $9,885,229Liabilities 2015: $0Net Assets 2015: $9,885,2292015Assets 2016: $10,031,915Liabilities 2016: $0Net Assets 2016: $10,031,9152016Assets 2017: $11,851,840Liabilities 2017: $29,022Net Assets 2017: $11,822,8182017Assets 2018: $12,014,290Liabilities 2018: $396,969Net Assets 2018: $11,617,3212018Assets 2019: $14,775,235Liabilities 2019: $466,994Net Assets 2019: $14,308,2412019Assets 2020: $17,333,208Liabilities 2020: $493,366Net Assets 2020: $16,839,8422020Assets 2021: $19,885,953Liabilities 2021: $677,660Net Assets 2021: $19,208,2932021Assets 2022: $15,366,797Liabilities 2022: $496,418Net Assets 2022: $14,870,3792022Assets 2023: $18,642,658Liabilities 2023: $588,545Net Assets 2023: $18,054,1132023Assets 2024: $21,885,225Liabilities 2024: $676,674Net Assets 2024: $21,208,5512024

Highlighted filing

2024

Assets$21,885,225
Liabilities$676,674
Net Assets$21,208,551

Operations Trend

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

$4.0M$2.0M$0-$2.0MExpenses 2010: $300,3662010Expenses 2011: $314,4932011Expenses 2012: $312,7242012Revenue 2013: $1,871,230Expenses 2013: $339,622Net Income 2013: $1,531,6082013Revenue 2014: $2,135,805Expenses 2014: $544,724Net Income 2014: $1,591,0812014Revenue 2015: $398,177Expenses 2015: $457,569Net Income 2015: -$59,3922015Revenue 2016: $557,229Expenses 2016: $410,543Net Income 2016: $146,6862016Revenue 2017: $2,344,011Expenses 2017: $553,044Net Income 2017: $1,790,9672017Revenue 2018: $665,350Expenses 2018: $870,847Net Income 2018: -$205,4972018Revenue 2019: $1,142,510Expenses 2019: $528,906Net Income 2019: $613,6042019Revenue 2020: $459,795Expenses 2020: $738,464Net Income 2020: -$278,6692020Revenue 2021: $1,750,042Expenses 2021: $1,231,406Net Income 2021: $518,6362021Revenue 2022: $447,282Expenses 2022: $898,393Net Income 2022: -$451,1112022Revenue 2023: $1,966,056Expenses 2023: $1,029,408Net Income 2023: $936,6482023Revenue 2024: $3,853,715Expenses 2024: $1,404,260Net Income 2024: $2,449,4552024

Highlighted filing

2024

Revenue$3,853,715
Expenses$1,404,260
Net Income$2,449,455

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.9$0.68$21.2$3.85$1.40$2.45
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.6$0.59$18.1$1.97$1.03$0.94
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.4$0.50$14.9$0.45$0.90$0.45
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.9$0.68$19.2$1.75$1.23$0.52
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.3$0.49$16.8$0.46$0.74$0.28
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.8$0.47$14.3$1.14$0.53$0.61
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.0$0.40$11.6$0.67$0.87$0.21
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.9$0.03$11.8$2.34$0.55$1.79
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.0$0.00$10.0$0.56$0.41$0.15
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.89$0.00$9.89$0.40$0.46$0.06
2014Detailed filing. Detailed filing data is available for this year.$9.94$0.00$9.94$2.14$0.54$1.59
2013Detailed filing. Detailed filing data is available for this year.$8.35$0.00$8.35$1.87$0.34$1.53
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.94$0.00$6.94$0.31
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.10$0.00$6.10$0.31
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.66$0.00$5.66$0.30
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 23, 2025
Return Version
2024v5.1
Gross Receipts
$5,287,869
Mission and Program Overview

Mission

Meets the charitable, scientific, literary and educational needs of mackinac island, michigan. Also receives and administers donations and bequests which are used to meet various needs of mackinac island.

Promotes the general well-being of island residents and visitors.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$17,021,597$19,396,212▲ $2,374,615
Pledges and Grants Receivable-$1,078,307-
Cash and Non-Interest-Bearing Accounts$448,179$640,349▲ $192,170
Savings and Temporary Cash Investments$795,104$392,579▼ $402,525
Total Assets$18,642,658$21,885,225▲ $3,242,567
Other Assets Total$377,778$377,778→ $0
Liabilities
Other Liabilities$470,568$495,425▲ $24,857
Grants Payable$114,873$181,249▲ $66,376
Accounts Payable and Accrued Expenses$3,104--
Total Liabilities$588,545$676,674▲ $88,129
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$18,054,113$21,208,551▲ $3,154,438
Total Net Assets Fund Balance$18,054,113$21,208,551▲ $3,154,438
Total Liabilities and Net Assets / Fund Balance$18,642,658$21,885,225▲ $3,242,567

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$15,444,565$1,479,923▲ $1,385,803-$17,157,728
2023$12,578,523$250,631▲ $3,316,391-$15,444,565
2022$17,127,686$603,404▼ $4,382,198-$12,578,523
2021$14,735,544$590,591▲ $2,609,444-$17,127,686
2020$12,722,743$212,128▲ $2,270,398-$14,735,544
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Stephanie McgreevyExecutive DirectorFT$72,406$72,406

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$2,927,962
Program Service Revenue
$5,095
Investment Income
$913,535
Other Revenue
$7,123
All Other Contributions
$2,927,962
Change in Net Assets
$2,449,455

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,711,816
Revenue Not Reported on Financial Statements
$141,899
Revenue Not Reported on Form 990
$723,983
Total Revenue per Audited Statements
$4,435,799
Total Revenue per Form 990
$3,853,715
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$972,539
Other Expenses$298,192
Salaries, Compensation, and Employee Benefits$133,529
Total Fundraising Expense$6,049
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$869,014--$869,014
Fees for Service Investment Mgmnt Fees-$141,899-$141,899
Grants to Domestic Individuals$103,525--$103,525
Current Officers, Directors, Trustees, and Key Employees-$72,406-$72,406
Fees for Services Other-$52,867-$52,867
Other Salaries and Wages$24,344$22,102-$46,446
Fees for Services Accounting-$18,120-$18,120
Payroll Taxes$2,314$7,473-$9,787
Other Expenses$6,150$10,422-$6,150
Office Expenses--$6,049$6,049
Information Technology-$5,855-$5,855
Advertising$5,354--$5,354
Other Employee Benefits$181$4,709-$4,890
Insurance-$4,733-$4,733
All Other Expenses$2,189$1,148-$3,337
Travel$2,704--$2,704
Conferences and Meetings$850--$850
Fees for Services Legal-$177-$177
Total Functional Expenses$1,056,300$341,911$6,049$1,404,260

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,404,260
Total Expenses per Audited Statements$1,281,361
Expenses per Audited Statements$1,262,361
Expenses Not Reported on Financial Statements$141,899
Expenses Not Reported on Form 990$19,000
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
City of Mackinac IslandMackinac Island, MIGovCemetery Improvements$227,883
Wawashkamo Golf ClubMackinac Island, MI501(c)3Restoration of Historic Building.$193,990
Mackinac Island Medical CenterMackinac Island, MI501(c)3Mackinac Island Medical Center for Yearly Support$126,984
Mackinac AssociatesMackinaw City, MI501(c)3SUPPORT TO CREATE NEW EXHIBITS IN THE SOLDIER'S BARRACKS AT FORT MACKINAC .$50,000
STE ANNE'S CHURCHMackinac Island, MI501(c)3ONGOING RESTORATION AND PRESERVATION OF HISTORICAL STE. ANNE'S CATHOLIC CHURCH.$35,025
City of Mackinac Island - Public LibraryMackinac Island, MIGovYearly Support$32,065
Mackinac Island Housing CorporationMackinac Island, MI501(c)3Assist With Plumbing Projects$25,000
Cheboygan Life Support Systems Inc Mackinac EmsCheboygan, MI501(c)3Equipment$23,864
MACKINAC HORSEMEN'S ASSOCIATION INCMackinac Island, MI501(c)3Operating Support$22,339
Mackinac Connect FoundationMackinac Island, MI501(c)3INCREASE THE CURRENT PROGRAM DIRECTOR'S POSITION FROM HALF-TIME TO PART-TIME DURING THE SEASON AND ALLOW OCCASIONAL REMOTE WORK DURING THE OFF-SEASON.$20,000
Mackinac Arts CouncilMackinac Island, MI501(c)3Operating Support$17,700
Mackinac Island Public SchoolMackinac Island, MI501(c)3Provide Assistance With Mackinac Island Public Schools$15,340
Rehab and Mobility SystemsTraverse City, MI501(c)3Mobility Cart for Island Resident.$13,810
MsrwPetoskey, MI501(c)3The Mackinac Island Hawk Count Research$13,505
Starling Shakespeare CompanyBelmont, MI501(c)3Support for the Mackinac Island Shakespeare Festival$12,000
Trinity Episcopal ChurchMackinac Island, MI501(c)3Provide Annual Support to Trinity Church$9,328
Straits PrideMackinac Island, MI501(c)3Operating Support$9,324
Mackinac State Historic ParksMackinaw City, MI501(c)3Yearly Operating Revenue to Support Historical Writing$6,048
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
Agency Funds$495,425
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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, Part VI, Section A, Line 7A

The board of trustees normally shall consist of from 9 to 18 members who shall be elected at any official board meeting, normally by being nominated by a motion a) from the foundation nominating and volunteer recruitment committee, and b) supported by a majority of trustees when a quorum is present.

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

The executive director and the audit committee reviews form 990 then provides a copy to all board members for approval. Form 990 is then signed by the executive director and submitted.

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

A policy is enforced and compliance is monitored and each board member and the executive director sign a copy of the policy annually.

Form 990, Part VI, Section B, Line 15A

Board approves compensation of executive director.

Form 990, Part VI, Section C, Line 19

Governing documents are available at the foundation's main office and on its website.

Filing and Contact Details

Filer

Filer Name
Mackinac Island Community Foundation
EIN
38-3179612
Phone
9068473701
Address
PO BOX 933, MACKINAC ISLAND, MI 49757

Signing Officer

Name
Stephanie Mcgreevy
Title
Executive Director
Phone
9068473701
Signed
2025-04-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rick Linn
Formed
1994
Legal Domicile
Mi
Voting Board Members
11
Independent Board Members
11
Employees
3
Volunteers
1

Preparer

Firm
Dgn LLC
Address
PO BOX 947, TRAVERSE CITY, MI 49685-0947
Preparer
Heidi Wendel CPA
Phone
2319461722
Supplemental Narrative

Financial Statement Notes

PART II, LINE 3:

Reported as an other asset for a total value of $377,778. Organization has owned the easement for over 7 years.

PART X, LINE 2:

The internal revenue service has determined that the foundation is exempt from federal income taxes under section 501(c)(3) of the internal revenue code. Also, the foundation has been certified as a community foundation by the state of michigan and has received determination as an "other than private foundation" under section 170(b)(1)(a)(vi) of the internal revenue code. The foundation is subject to income tax only on the business income not related to its exempt purpose. Such taxes are generally insignificant. Accordingly, no provision for income taxes has been recorded in the accompanying financial statements. With few exceptions, the foundation is no longer subject to u.s. Federal examinations by tax authorities for years before december 31, 2021.

Raw XML AppendixShowing 400 of 718 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.

Path#Value
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IRS990/AccountsPayableAccrExpnssGrp/BOYAmt03104
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IRS990/AdvertisingGrp/ProgramServicesAmt05354
IRS990/AdvertisingGrp/TotalAmt05354
IRS990/AllOtherContributionsAmt02927962
IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt01148
IRS990/AllOtherExpensesGrp/ProgramServicesAmt02189
IRS990/AllOtherExpensesGrp/TotalAmt03337
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IRS990/BooksInCareOfDetail/PhoneNum09068473701
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt01391 HOBAN ST APT 101
IRS990/BooksInCareOfDetail/USAddress/CityNm0MACKINAC ISLAND
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IRS990/Form990PartVIISectionAGrp/PersonNm1KATHLEEN RICKLEY
IRS990/Form990PartVIISectionAGrp/PersonNm2MARGARET M DOUD
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IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
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IRS990/MissionDesc0THE MACKINAC ISLAND COMMUNITY FOUNDATION PROMOTES THE GENERAL WELL-BEING OF ISLAND RESIDENTS AND VISITORS, BY WORKING IN COMMUNITY PARTNERSHIPS TO GENERATE ENDOWED AND UN-ENDOWED FUNDS AND STIMULATE COMMUNITY-WIDE INITIATIVES.
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