Packard Motorcar Foundation
- Assets
- $5.5m
- Revenue
- $821.7k
- Investments
- $155.2k
- Employees
- 2
- Location
- Shelby Twp, MI
- Founding
- 05/1997
- Data as of
- 12/2021
- 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 12/2021, Packard Motorcar Foundation employed 2 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 12/2021, Packard Motorcar Foundation generated $821.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.3% each year . All expenses for the organization totaled $443.6k during the year ending 12/2021. While expenses have increased by 16.4% per year over the past 7 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
2021
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
THE FOUNDATION OPERATES A GIFT SHOP TO PROVIDE ENTHUSIASTS THE OPPORTUNITY TO PURCHASE COMMEMORATIVE GIFTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Mark Smucker President | OfficerTrustee | 3 | $0 |
Brian Burke Treasurer | OfficerTrustee | 5 | $0 |
David Dolby Secretary | OfficerTrustee | 12 | $0 |
Roger Luksik Trustee | Trustee | 33 | $0 |
Neal Porter Trustee | Trustee | 1 | $0 |
Kelley Kuhn Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $545 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $48,713 |
| All other contributions, gifts, grants, and similar amounts not included above | $282,539 |
| Noncash contributions included in lines 1a–1f | $110,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $331,797 |
| Total Program Service Revenue | $0 |
| Investment income | $517 |
| 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 | $821,705 |
| 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 | $107,948 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,263 |
| Payroll taxes | $11,304 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $28,324 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,970 |
| Office expenses | $7,253 |
| Information technology | $1,862 |
| 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 | $174 |
| Interest | $1,907 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $90,007 |
| Insurance | $20,064 |
| All other expenses | $30,639 |
| Total functional expenses | $443,579 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $290,993 |
| Savings and temporary cash investments | $191,268 |
| 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 | $5,616 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,040,633 |
| Investments—publicly traded securities | $24,894 |
| Investments—other securities | $155,198 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $837,000 |
| Total assets | $5,545,602 |
| Accounts payable and accrued expenses | $4,249 |
| Grants payable | $0 |
| Deferred revenue | $12,179 |
| 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 | $168,715 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $185,143 |
| Net assets without donor restrictions | $4,093,092 |
| Net assets with donor restrictions | $1,267,367 |
| 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 | $5,545,602 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Packard Motorcar Foundation has recieved totaling $3,000.
| Awarding Organization | Amount |
|---|---|
Appletree Hill Foundation Sterling Heights, MI PURPOSE: GENERAL SUPPORT | $3,000 |
Endowment Analysis
| Beg. Balance | $136,000 |
| Earnings | $16,758 |
| Ending Balance | $152,758 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ohio Historical Society Columbus, OH | $7,345,353 | $25,940,986 |
Franklin County Historical Society Columbus, OH | $23,539,656 | $19,471,266 |
Indiana Historical Society Indianapolis, IN | $152,627,726 | $15,739,974 |
Sunset Memorial Park Association North Olmsted, OH | $79,187,854 | $7,193,716 |
Historic Landmarks Foundation Of Indiana Inc Indianapolis, IN | $92,679,775 | $11,879,556 |
Cuyahoga Valley Preservation And Scenic Railway Association Peninsula, OH | $11,093,810 | $8,580,241 |
Western Reserve Historical Society Cleveland, OH | $45,747,344 | $9,269,565 |
Stan Hywet Hall & Gardens Inc Akron, OH | $11,720,685 | $5,111,685 |
American Opinion Foundation Inc Appleton, WI | $4,682,811 | $5,136,878 |
Arlington Memorial Gardens Assoc Inc Cincinnati, OH | $20,107,883 | $6,307,939 |
Hudson Library & Historical Society Hudson, OH | $7,551,433 | $4,693,628 |
Old Tiger Stadium Conservancy Detroit, MI | $90,494 | $3,111,920 |