Civic Intelligence

Mpc Legacy Foundation

990 • Fiscal year 2019 • EIN 46-2335572

Jan 01, 2019 to Dec 31, 2019 • Filed on Dec 03, 2020

Organization ProfileN/A
1310 Ashman StreetMidland, MI 48640

(989) 835-6759

Siviq Scores

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

Liabilities / Assets

18th percentile

0.03x

Higher debt load relative to assets than 18% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

59th percentile

0.42x

Higher debt load relative to revenue than 59% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Net Margin

77th percentile

17%

Higher net margin than 77% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

7th percentile

$0

Higher top officer pay than 7% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Asset Growth

76th percentile

14%

Faster asset growth than 76% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

5th percentile

-52%

Faster revenue growth than 5% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets18th percentile

Assets

Up

$38,214,770

Up $4,663,054 (+14%) from 2018

Net Assets

Up

$37,245,377

Up $4,544,990 (+14%) from 2018

Liabilities

Up

$969,393

Up $118,064 (+14%) from 2018

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin77th percentile

Revenue

Down

$2,305,069

Down $2,453,951 (-52%) from 2018

Expenses

Up

$1,906,740

Up $804,662 (+73%) from 2018

Net Income

Down

$398,329

Down $3,258,613 (-89%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth76th percentile

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

$60M$40M$20M$0Assets 2014: $29,370,458Liabilities 2014: $297,243Net Assets 2014: $29,073,2152014Assets 2015: $28,776,389Liabilities 2015: $159,672Net Assets 2015: $28,616,7172015Assets 2016: $32,230,226Liabilities 2016: $421,642Net Assets 2016: $31,808,5842016Assets 2017: $36,196,102Liabilities 2017: $376,973Net Assets 2017: $35,819,1292017Assets 2018: $33,551,716Liabilities 2018: $851,329Net Assets 2018: $32,700,3872018Assets 2019: $38,214,770Liabilities 2019: $969,393Net Assets 2019: $37,245,3772019Assets 2020: $44,711,173Liabilities 2020: $1,075,641Net Assets 2020: $43,635,5322020Assets 2021: $53,014,384Liabilities 2021: $0Net Assets 2021: $53,014,3842021Assets 2022: $46,124,919Liabilities 2022: $141,672Net Assets 2022: $45,983,2472022Assets 2023: $52,141,049Liabilities 2023: $141,672Net Assets 2023: $51,999,3772023Assets 2024: $59,779,311Liabilities 2024: $141,672Net Assets 2024: $59,637,6392024

Highlighted filing

2019

Assets$38,214,770
Liabilities$969,393
Net Assets$37,245,377
Open 2019 Filing

Operations Trend

Revenue Growth5th percentile

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

$40M$30M$20M$10M$0Revenue 2014: $30,190,250Expenses 2014: $823,487Net Income 2014: $29,366,7632014Revenue 2015: $1,693,784Expenses 2015: $1,153,225Net Income 2015: $540,5592015Revenue 2016: $1,771,855Expenses 2016: $1,079,527Net Income 2016: $692,3282016Revenue 2017: $2,649,742Expenses 2017: $1,247,817Net Income 2017: $1,401,9252017Revenue 2018: $4,759,020Expenses 2018: $1,102,078Net Income 2018: $3,656,9422018Revenue 2019: $2,305,069Expenses 2019: $1,906,740Net Income 2019: $398,3292019Revenue 2020: $2,472,975Expenses 2020: $1,535,650Net Income 2020: $937,3252020Revenue 2021: $2,749,835Expenses 2021: $470,002Net Income 2021: $2,279,8332021Revenue 2022: $2,751,447Expenses 2022: $1,491,297Net Income 2022: $1,260,1502022Revenue 2023: $2,339,849Expenses 2023: $1,713,533Net Income 2023: $626,3162023Revenue 2024: $4,176,021Expenses 2024: $1,799,817Net Income 2024: $2,376,2042024

Highlighted filing

2019

Revenue$2,305,069
Expenses$1,906,740
Net Income$398,329
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Dec 3, 2020
Return Version
2019v5.0
Gross Receipts
$2,305,069
Mission and Program Overview

Mission

The organization's mission is to provide continued financial support to the memorial presbyterian church of midland.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$32,097,792$36,209,897▲ $4,112,105
Cash and Non-Interest-Bearing Accounts$1,410,314$1,761,177▲ $350,863
Accounts Receivable-$181,100-
Investments Other Securities-$18,986-
Total Assets$33,551,716$38,214,770▲ $4,663,054
Other Assets Total$43,610$43,610→ $0
Liabilities
Accounts Payable and Accrued Expenses$851,329$969,393▲ $118,064
Total Liabilities$851,329$969,393▲ $118,064
Net Assets / Fund Balance
Net Assets With Donor Restrictions$28,846,469$30,028,235▲ $1,181,766
Net Assets Without Donor Restrictions$3,853,918$7,217,142▲ $3,363,224
Total Net Assets Fund Balance$32,700,387$37,245,377▲ $4,544,990
Total Liabilities and Net Assets / Fund Balance$33,551,716$38,214,770▲ $4,663,054

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$32,765,870-▲ $6,386,247-$37,245,377
2018$35,906,672$412,407▼ $2,516,614-$32,700,387
2017$31,862,521$26,301▲ $5,178,124-$35,819,129
2016$28,616,718$310,847▲ $4,098,376-$31,862,521
2015$29,073,216$902,419▼ $206,693-$28,616,718
Compensation and Service Providers
Top Officer Pay7th percentile

Board Members and Trustees

NameTitle
William C LauderbachChairperson
Kirk W FisherVice Chair/t
Arthur W KuperTrustee
Gilbert a HarterTrustee
Michael DotyTrustee
Richard C CrossTrustee
Roberta ArnoldTrustee
William SchmidtTrustee
Barry B GeorgeSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$2,305,069
Other Revenue
$0
Change in Net Assets
$398,329
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,906,740
Other Expenses$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,906,740--$1,906,740
Total Functional Expenses$1,906,740$0$0$1,906,740
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Memorial Presbyterian ChurchMidland, MI501c3Support$1,906,740
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“Members of the organization include all members in good standing of the memorial presbyterian church of midland.”

Form 990, Page 6, Part VI, Line 7A

“Members of the memorial presbyterian church of midland elect one trustee to the governing board of the organization each year. The session of the memorial presbyterian church of midland elects one trustee each year. A third trustee is elected by the board of trustees.”

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

“Form 990 will be reviewed by the financial administrator of the memorial presbyterian church of midland, the treasurer, two trustees of the mpc legacy foundation board prior to submission to the board of trustees, who will review the same prior to signature and submission”

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

“Annually trustees are required to disclose their affiliation with all corporations and services on boards and report any conflicts. Submission of disclosure is tracked and monitored annually.”

Form 990, Page 6, Part VI, Line 19

“Governing documents were presented to the congregation of the memorial presbyterian church and are a part of the minutes of those meetings which are available upon request.”

Filing and Contact Details

Filer

Filer Name
Mpc Legacy Foundation
EIN
46-2335572
Phone
9898356759
Address
1310 ASHMAN STREET, MIDLAND, MI 48640

Signing Officer

Name
William C Lauderbach
Title
Chairperson
Phone
9898356759
Signed
2020-12-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William C Lauderbach
Formed
2012
Legal Domicile
Mi
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
12

Preparer

Firm
Yeo & Yeo Pc
Address
PO BOX 3275, SAGINAW, MI 48605
Preparer
Jamie Rivette
Phone
9897939830
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 4, Part XIII

“The intended use of endowment fund earnings is to support memorial presbyterian church”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE INTENDED USE OF ENDOWMENT FUND EARNINGS IS TO SUPPORT MEMORIAL PRESBYTERIAN CHURCH
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XIII
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IRS990ScheduleI/RecipientTable/RecipientEIN0381358389
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01319 ASHMAN STREET
IRS990ScheduleI/RecipientTable/USAddress/CityNm0MIDLAND
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERS OF THE ORGANIZATION INCLUDE ALL MEMBERS IN GOOD STANDING OF THE MEMORIAL PRESBYTERIAN CHURCH OF MIDLAND.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS OF THE MEMORIAL PRESBYTERIAN CHURCH OF MIDLAND ELECT ONE TRUSTEE TO THE GOVERNING BOARD OF THE ORGANIZATION EACH YEAR. THE SESSION OF THE MEMORIAL PRESBYTERIAN CHURCH OF MIDLAND ELECTS ONE TRUSTEE EACH YEAR. A THIRD TRUSTEE IS ELECTED BY THE BOARD OF TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 WILL BE REVIEWED BY THE FINANCIAL ADMINISTRATOR OF THE MEMORIAL PRESBYTERIAN CHURCH OF MIDLAND, THE TREASURER, TWO TRUSTEES OF THE MPC LEGACY FOUNDATION BOARD PRIOR TO SUBMISSION TO THE BOARD OF TRUSTEES, WHO WILL REVIEW THE SAME PRIOR TO SIGNATURE AND SUBMISSION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUALLY TRUSTEES ARE REQUIRED TO DISCLOSE THEIR AFFILIATION WITH ALL CORPORATIONS AND SERVICES ON BOARDS AND REPORT ANY CONFLICTS. SUBMISSION OF DISCLOSURE IS TRACKED AND MONITORED ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS WERE PRESENTED TO THE CONGREGATION OF THE MEMORIAL PRESBYTERIAN CHURCH AND ARE A PART OF THE MINUTES OF THOSE MEETINGS WHICH ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$38,214,770
Liabilities
$969,393
Net assets
$37,245,377
Revenue
$2,305,069
Expenses
$1,906,740
Net income
$398,329
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$59.8$0.14$59.6$4.18$1.80$2.38
2023Detailed filing. Detailed filing data is available for this year.$52.1$0.14$52.0$2.34$1.71$0.63
2022Detailed filing. Detailed filing data is available for this year.$46.1$0.14$46.0$2.75$1.49$1.26
2021Detailed filing. Detailed filing data is available for this year.$53.0$0.00$53.0$2.75$0.47$2.28
2020Detailed filing. Detailed filing data is available for this year.$44.7$1.08$43.6$2.47$1.54$0.94
2019Detailed filing. Detailed filing data is available for this year.$38.2$0.97$37.2$2.31$1.91$0.40
2018Detailed filing. Detailed filing data is available for this year.$33.6$0.85$32.7$4.76$1.10$3.66
2017Detailed filing. Detailed filing data is available for this year.$36.2$0.38$35.8$2.65$1.25$1.40
2016Detailed filing. Detailed filing data is available for this year.$32.2$0.42$31.8$1.77$1.08$0.69
2015Detailed filing. Detailed filing data is available for this year.$28.8$0.16$28.6$1.69$1.15$0.54
2014Detailed filing. Detailed filing data is available for this year.$29.4$0.30$29.1$30.2$0.82$29.4