Civic Intelligence

Mpc Legacy Foundation

990 • Fiscal year 2023 • EIN 46-2335572

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 14, 2024

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

6th percentile

0.00x

Higher debt load relative to assets than 6% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2023

Liabilities / Revenue

12th percentile

0.06x

Higher debt load relative to revenue than 12% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2023

Net Margin

84th percentile

27%

Higher net margin than 84% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2023

Asset Growth

70th percentile

13%

Faster asset growth than 70% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Revenue Growth

20th percentile

-15%

Faster revenue growth than 20% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets6th percentile

Assets

Up

$52,141,049

Up $6,016,130 (+13%) from 2022

Net Assets

Up

$51,999,377

Up $6,016,130 (+13%) from 2022

Liabilities

Flat

$141,672

Flat from 2022

Revenue And Expenses
Liabilities / Revenue12th percentileNet Margin84th percentile

Revenue

Down

$2,339,849

Down $411,598 (-15%) from 2022

Expenses

Up

$1,713,533

Up $222,236 (+15%) from 2022

Net Income

Down

$626,316

Down $633,834 (-50%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth70th 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

2023

Assets$52,141,049
Liabilities$141,672
Net Assets$51,999,377
Open 2023 Filing

Operations Trend

Revenue Growth20th 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

2023

Revenue$2,339,849
Expenses$1,713,533
Net Income$626,316
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 14, 2024
Return Version
2023v5.0
Gross Receipts
$7,836,312
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$43,345,841$50,193,072▲ $6,847,231
Cash and Non-Interest-Bearing Accounts$2,637,406$1,806,305▼ $831,101
Accounts Receivable$141,672$141,672→ $0
Total Assets$46,124,919$52,141,049▲ $6,016,130
Liabilities
Accounts Payable and Accrued Expenses$141,672$141,672→ $0
Total Liabilities$141,672$141,672→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$32,278,418$36,586,341▲ $4,307,923
Net Assets Without Donor Restrictions$13,704,829$15,413,036▲ $1,708,207
Total Net Assets Fund Balance$45,983,247$51,999,377▲ $6,016,130
Total Liabilities and Net Assets / Fund Balance$46,124,919$52,141,049▲ $6,016,130

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$45,983,247$187,242▲ $7,542,421-$51,999,377
2022$53,129,847$381,576▼ $6,036,879-$45,983,247
2021$43,451,022$87,550▲ $9,906,075-$53,129,847
2020$37,740,089$80,750▲ $7,350,343-$43,635,532
2019$32,765,870-▲ $6,386,247-$37,245,377
Compensation and Service Providers
Top Officer Pay6th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$187,242
Program Service Revenue
$0
Investment Income
$2,152,607
Other Revenue
$0
All Other Contributions
$2,161
Change in Net Assets
$626,316
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,691,083
Other Expenses$22,450
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,691,083--$1,691,083
Other Expenses-$22,450-$22,450
Total Functional Expenses$1,691,083$22,450$0$1,713,533
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Memorial Presbyterian ChurchMidland, MI501c3Support$1,691,083
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 two trustees of the mpc legacy foundation board 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
2024-10-14
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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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 WILL BE REVIEWED BY TWO TRUSTEES OF THE MPC LEGACY FOUNDATION BOARD 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.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$52,141,049
Liabilities
$141,672
Net assets
$51,999,377
Revenue
$2,339,849
Expenses
$1,713,533
Net income
$626,316
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