Fernwood Inc
- Assets
- $5.2m
- Revenue
- $884.2k
- Investments
- $0.0
- Employees
- 27
- Location
- Niles, MI
- Founding
- 05/1965
- Data as of
- 03/2023
- EIN
- 38-1750543
Organization Overview
Fernwood Inc is located in Niles, MI. The organization was established in 1965. According to its NTEE Classification (C60) the organization is classified as: Environmental Education, under the broad grouping of Environment and related organizations. As of 03/2023, Fernwood Inc employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fernwood Inc 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 03/2023, Fernwood Inc generated $884.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $1.3m during the year ending 03/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
105 ACRE BOTANICAL GARDEN AND NATURE PRESERVE DEDICATED TO EDUCATION OF ADULTS AND CHILDREN ABOUT THE ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATED AN EDUCATIONAL BOTANICAL GARDEN AND NATURE PRESERVE THAT SERVED MANY VISITORS AND SCHOOL CHILDREN DURING THE CURRENT FISCAL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol Line Executive Director | Officer | 40 | $80,000 |
Mary Keefe Co-Chair | OfficerTrustee | 2 | $0 |
Tracy Dippo Co-Chair | OfficerTrustee | 2 | $0 |
Theresa Richter Secretary | OfficerTrustee | 2 | $0 |
Amanda Roberts Treasurer | OfficerTrustee | 2 | $0 |
Melanie Owen Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $170,598 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $468,075 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $638,673 |
| Total Program Service Revenue | $176,905 |
| Investment income | $39,137 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$12,935 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $35,820 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $884,209 |
| 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. | $80,000 |
| Compensation of current officers, directors, key employees. | $40,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $482,169 |
| Pension plan accruals and contributions | $14,386 |
| Other employee benefits | $38,140 |
| Payroll taxes | $44,302 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $41,876 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,000 |
| Fees for services: Other | $46,613 |
| Advertising and promotion | $17,660 |
| Office expenses | $7,810 |
| Information technology | $28,451 |
| Royalties | $0 |
| Occupancy | $33,201 |
| Travel | $200 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $163,281 |
| Insurance | $39,187 |
| All other expenses | $96,221 |
| Total functional expenses | $1,330,627 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $149,251 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $4,000 |
| 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 | $29,500 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,169,346 |
| Investments—publicly traded securities | $1,799,245 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,151,342 |
| Accounts payable and accrued expenses | $41,124 |
| Grants payable | $0 |
| Deferred revenue | $16,450 |
| 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 | $44,687 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $22,616 |
| Total liabilities | $124,877 |
| Net assets without donor restrictions | $4,982,400 |
| Net assets with donor restrictions | $44,065 |
| 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 | $5,151,342 |