Wenonah Park Properties Inc
- Assets
- $20.8m
- Revenue
- $9.4m
- Investments
- $0.0
- Employees
- 218
- Location
- Bay City, MI
- Founding
- 05/2004
- Data as of
- 12/2022
- EIN
- 38-3586976
Organization Overview
Wenonah Park Properties Inc is located in Bay City, MI. The organization was established in 2004. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Wenonah Park Properties Inc employed 218 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wenonah Park Properties 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 12/2022, Wenonah Park Properties Inc generated $9.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $10.4m during the year ending 12/2022. While expenses have increased by 2.2% per year over the past 8 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
TO ENSURE THE CITY OF BAY CITY'S REDEVELOPMENT OF A PORTION OF DOWNTOWN AND THE CITY'S ECONOMIC AND COMMERCIAL VITALITY BY DESIGNING, CONSTRUCTING AND OPERATING A FIRST CLASS HOTEL AND CONFERENCE CENTER
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A FIRST CLASS, FULL SERVICE HOTEL AND CONFERENCE CENTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbra Engelhardt-Carter Director | Trustee | 1 | $0 |
David Klippert President | OfficerTrustee | 1 | $0 |
Andrew L Merl Secreatry/tr | OfficerTrustee | 1 | $0 |
Mark Norton Chairperson | OfficerTrustee | 1 | $0 |
Drew Steury CFO | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $227,448 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $227,448 |
| Total Program Service Revenue | $9,147,091 |
| Investment income | $3,109 |
| 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 | $9,377,648 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $3,865,892 |
| Fees for services: Legal | $13,265 |
| Fees for services: Accounting | $18,955 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $106,118 |
| Advertising and promotion | $256,883 |
| Office expenses | $164,265 |
| Information technology | $55,889 |
| Royalties | $0 |
| Occupancy | $904,642 |
| Travel | $8,658 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $44,680 |
| Interest | $1,600,812 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,181,314 |
| Insurance | $359,094 |
| All other expenses | $0 |
| Total functional expenses | $10,434,019 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $748,562 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $67,772 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $65,164 |
| Prepaid expenses and deferred charges | $300,196 |
| Net Land, buildings, and equipment | $19,395,697 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $63,750 |
| Other assets | $112,345 |
| Total assets | $20,753,486 |
| Accounts payable and accrued expenses | $12,077,700 |
| Grants payable | $0 |
| Deferred revenue | $266,652 |
| Tax-exempt bond liabilities | $15,141,565 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $8,220,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $35,705,917 |
| Net assets without donor restrictions | -$14,952,431 |
| Net assets with donor restrictions | $0 |
| 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 | $20,753,486 |