Packard Motorcar Foundation
- Assets
- $5.6m
- Revenue
- $806.4k
- Investments
- $130.2k
- Employees
- 5
- Location
- Shelby Twp, MI
- Founding
- 05/1997
- Data as of
- 12/2022
- EIN
- 31-1502101
Organization Overview
Packard Motorcar Foundation is located in Shelby Twp, MI. The organization was established in 1997. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Packard Motorcar Foundation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Packard Motorcar Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Packard Motorcar Foundation generated $806.4k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $564.2k during the year ending 12/2022. While expenses have increased by 10.3% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PRESERVATION OF THE PRODUCTS, HISTORY, AND PROPERTIES OF THE PACKARD MOTOR CAR COMPANY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESTORATION AND RENOVATION OF THE PACKARD PROVING GROUNDS IN SHELBY TOWNSHIP, MI
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Mark Smucker President | OfficerTrustee | 1 | $0 |
Brian Burke Treasurer | OfficerTrustee | 1 | $0 |
David Dolby Secretary | OfficerTrustee | 22 | $0 |
Bruce Blevins Trustee | Trustee | 8 | $0 |
John A James Trustee | Trustee | 1 | $0 |
Kelley Kuhn Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $100 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $750 |
| All other contributions, gifts, grants, and similar amounts not included above | $230,721 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $231,571 |
| Total Program Service Revenue | $0 |
| Investment income | $576 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $806,422 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $121,698 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,973 |
| Payroll taxes | $7,664 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,515 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,076 |
| Office expenses | $11,497 |
| Information technology | $8,922 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $392 |
| Interest | $193 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $90,007 |
| Insurance | $39,946 |
| All other expenses | $22,354 |
| Total functional expenses | $564,226 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $401,593 |
| Savings and temporary cash investments | $191,600 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $20,946 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,978,027 |
| Investments—publicly traded securities | $24,866 |
| Investments—other securities | $130,154 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $837,281 |
| Total assets | $5,584,467 |
| Accounts payable and accrued expenses | $3,545 |
| Grants payable | $0 |
| Deferred revenue | $10,434 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $13,979 |
| Net assets without donor restrictions | $4,284,913 |
| Net assets with donor restrictions | $1,285,575 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,584,467 |