The Furniture Resource Center
- Assets
- $628.3k
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 15
- Location
- Pontiac, MI
- Founding
- 01/1971
- Data as of
- 12/2023
- EIN
- 38-1914651
Organization Overview
The Furniture Resource Center, operating under the name Michigan, is located in Pontiac, MI. The organization was established in 1971. According to its NTEE Classification (P58) the organization is classified as: Gift Distribution, under the broad grouping of Human Services and related organizations. As of 12/2023, Michigan employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan 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 12/2023, Michigan generated $2.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $2.1m during the year ending 12/2023. While expenses have increased by 9.3% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE BEDS AND FURNITURE TO CHILDREN AND FAMILIES IN NEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023, THE FURNITURE BANK PROVIDED 2,037 FAMILIES WITH 18,328 ITEMS CONSERVATIVELY VALUED AT $1,021,885. IN TOTAL, WE SERVED 6,910 INDIVIDUALS: 2,965 ADULTS AND 3,945 CHILDREN. 1,295 FAMILIES WERE REFERRED TO OUR FURNITURE FOR FAMILIES PROGRAM AND RECEIVED 16,102 ITEMS VALUED AT $861,953. AN ADDITIONAL 742 FAMILIES BENEFITED FROM OUR FREE COMMUNITY AREA, RECEIVING 2,226 ITEMS VALUED AT $159,942 FOR NO CHARGE. THIS INCLUDES 1,849 MATTRESSES, 1,685 BOX SPRINGS, 1,339 DRESSERS, 702 DINING TABLES, 2,940 DINING CHAIRS, 1,092 SOFAS, 1,763 PIECES OF LIVING ROOM FURNITURE AND 4,291 OTHER HOUSEHOLD ITEMS. EIGHTY-SIX PERCENT (86%) OF THE FAMILIES WE SERVED REPORTED AN ANNUAL HOUSEHOLD INCOME OF $20,000 OR LESS. FIFTY-SIX PERCENT (56%) REPORTED AN ANNUAL HOUSEHOLD INCOME OF UNDER $10,000. OUR TRUCKS PICKED UP FURNITURE FROM THE HOMES OF 3,939 FURNITURE DONORS. WE ALSO PROVIDED NO- OR LOW-COST FURNITURE DELIVERIES TO THE HOMES OF 724 FAMILIES IN CONJUNCTION WITH OUR NONPROFIT PARTNERS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Gleba President | OfficerTrustee | 2 | $0 |
Anita Hicks Vice President | OfficerTrustee | 1 | $0 |
Victor Arbulu Treasurer | OfficerTrustee | 1 | $0 |
Pamela Branchick Secretary | OfficerTrustee | 1 | $0 |
Steve Mattar Director | Trustee | 1 | $0 |
Kirsten Elliott Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $51,342 |
| Membership dues | $0 |
| Fundraising events | $100,397 |
| Related organizations | $0 |
| Government grants | $19,816 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,284,041 |
| Noncash contributions included in lines 1a–1f | $1,021,885 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,455,596 |
| Total Program Service Revenue | $651,276 |
| Investment income | $50 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$16,522 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,090,400 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,026,439 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $79,780 |
| Compensation of current officers, directors, key employees. | $5,704 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $530,426 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $17,008 |
| Payroll taxes | $46,275 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,134 |
| Advertising and promotion | $0 |
| Office expenses | $14,280 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $59,798 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,406 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,480 |
| Insurance | $7,246 |
| All other expenses | $9,633 |
| Total functional expenses | $2,094,166 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77,375 |
| Savings and temporary cash investments | $208,660 |
| Pledges and grants receivable | $25,000 |
| Accounts receivable, net | $2,205 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $51,002 |
| Prepaid expenses and deferred charges | $11,018 |
| Net Land, buildings, and equipment | $251,094 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,900 |
| Total assets | $628,254 |
| Accounts payable and accrued expenses | $26,179 |
| Grants payable | $0 |
| Deferred revenue | $15,015 |
| 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 | $22,177 |
| Total liabilities | $63,371 |
| Net assets without donor restrictions | $539,883 |
| Net assets with donor restrictions | $25,000 |
| 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 | $628,254 |