Civic Intelligence

Mpc Legacy Foundation

990 • Fiscal year 2021 • EIN 46-2335572

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

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

3rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Liabilities / Revenue

3rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Net Margin

97th percentile

83%

Higher net margin than 97% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Top Officer Pay

6th percentile

$0

Higher top officer pay than 6% of similar nonprofits.

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

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Asset Growth

67th percentile

19%

Faster asset growth than 67% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2020 to 2021

Revenue Growth

49th percentile

11%

Faster revenue growth than 49% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets3rd percentile

Assets

Up

$53,014,384

Up $8,303,211 (+19%) from 2020

Net Assets

Up

$53,014,384

Up $9,378,852 (+21%) from 2020

Liabilities

Down

$0

Down $1,075,641 (-100%) from 2020

Revenue And Expenses
Liabilities / Revenue3rd percentileNet Margin97th percentile

Revenue

Up

$2,749,835

Up $276,860 (+11%) from 2020

Expenses

Down

$470,002

Down $1,065,648 (-69%) from 2020

Net Income

Up

$2,279,833

Up $1,342,508 (+143%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth67th 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

2021

Assets$53,014,384
Liabilities$0
Net Assets$53,014,384
Open 2021 Filing

Operations Trend

Revenue Growth49th 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

2021

Revenue$2,749,835
Expenses$470,002
Net Income$2,279,833
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.0
Gross Receipts
$6,565,476
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$42,545,193$51,261,668▲ $8,716,475
Cash and Non-Interest-Bearing Accounts$1,964,504$923,542▼ $1,040,962
Accounts Receivable$201,476$829,174▲ $627,698
Total Assets$44,711,173$53,014,384▲ $8,303,211
Liabilities
Accounts Payable and Accrued Expenses$1,075,641--
Total Liabilities$1,075,641$0▼ $1,075,641
Net Assets / Fund Balance
Net Assets With Donor Restrictions$30,512,502$38,046,367▲ $7,533,865
Net Assets Without Donor Restrictions$13,123,030$14,968,017▲ $1,844,987
Total Net Assets Fund Balance$43,635,532$53,014,384▲ $9,378,852
Total Liabilities and Net Assets / Fund Balance$44,711,173$53,014,384▲ $8,303,211

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$43,451,022$87,550▲ $9,906,075-$53,014,384
2020$37,740,089$80,750▲ $7,350,343-$43,635,532
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
Compensation and Service Providers
Top Officer Pay6th percentile

Board Members and Trustees

NameTitle
William C LauderbachPresident
Amy WilsonTrustee
Arthur W KuperTrustee
Gilbert a HarterTrustee
Michael DotyTrustee
Richard C CrossTrustee
William SchmidtTrustee
Barry B GeorgeSecretary
Kirk W FisherVice Pres/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$87,550
Program Service Revenue
$0
Investment Income
$2,622,546
Other Revenue
$39,739
All Other Contributions
$5,000
Change in Net Assets
$2,279,833
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$470,002
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$470,002--$470,002
Total Functional Expenses$470,002$0$0$470,002
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Memorial Presbyterian ChurchMidland, MI501c3Support$470,002
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
Yes
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
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
President
Phone
9898356759
Signed
2022-11-15
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
9

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 2, Part V, Line 4

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

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE INTENDED USE OF ENDOWMENT FUND EARNINGS IS TO SUPPORT THE MEMORIAL PRESBYTERIAN CHURCH.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01319 ASHMAN STREET
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0AS A TYPE 1 SUPPORTING ORGANIZATION, MPC LEGACY FOUNDATION HAS MEMORIAL PRESBYTERIAN CHURCH LISTED IN ITS ORGANIZING DOUCMENTS AS THE BENEFICIARY OF ASSISTANCE. MONITORING TAKES PLACE THROUGH THE RELATIONSHIP BETWEEN MPC LEGACY FOUNDATION AND MEMORIAL PRESYBTERIAN CHURCH.
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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
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM C LAUDERBACH

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$53,014,384
Liabilities
$0
Net assets
$53,014,384
Revenue
$2,749,835
Expenses
$470,002
Net income
$2,279,833
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