Michaels Way
- Assets
- $11.0m
- Revenue
- $1.8m
- Investments
- $9.5m
- Employees
- 0
- Location
- Fort Washington, PA
- Founding
- 06/2002
- Data as of
- 12/2021
- EIN
- 43-1959538
Organization Overview
Michaels Way is located in Fort Washington, PA. The organization was established in 2002. According to its NTEE Classification (G12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michaels Way 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, Michaels Way generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $482.9k during the year ending 12/2021. 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
MICHAEL'S WAY PROVIDES FINANCIAL ASSISTANCE FOR FAMILIES OF CHILDREN WITH CANCER IN ORDER TO HELP THESE FAMILIES COPE WITH EXTRAORDINARY EXPENSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHILDREN'S HOSPITAL OF PHILADELPHIA
ALFRED I. DUPONT HOSPITAL FOR CHILDREN
LEVINE CHILDREN'S HOSPITAL, NORTH CAROLINA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher J Mcelwee President | OfficerTrustee | 2 | $0 |
Lawrence J Kanavy Vp/secretary | OfficerTrustee | 1 | $0 |
Alfred P Ferraro Vp/treasurer | OfficerTrustee | 0.5 | $0 |
Matt Delaney Board Member | Trustee | 0.5 | $0 |
Ron Caplan Board Member | Trustee | 0.5 | $0 |
John J Dougherty Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $174,675 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $137,208 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $311,883 |
| Total Program Service Revenue | $0 |
| Investment income | $107,945 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,061,578 |
| Net Income from Fundraising Events | $344,675 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,826,081 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $464,221 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $7,075 |
| Information technology | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $530 |
| All other expenses | $0 |
| Total functional expenses | $482,881 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $553,363 |
| Savings and temporary cash investments | $915,650 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $68,952 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $9,499,518 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,037,483 |
| Accounts payable and accrued expenses | $8,413 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $8,413 |
| Net assets without donor restrictions | $11,029,070 |
| 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 | $11,037,483 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Michaels Way has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Whitcomb Family Foundation Inc Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Autism Speaks Inc Princeton, NJ | $46,226,879 | $53,701,450 |
Service Coordination Unlimited Inc Pittsburgh, PA | $4,474,883 | $7,015,271 |
Eagles Autism Challenge Inc Philadelphia, PA | $4,671,801 | $3,218,137 |
Hope & Heroes Childrens Cancer Fund New York, NY | $6,179,073 | $4,699,771 |
Sharsheret Inc Teaneck, NJ | $13,435,565 | $7,157,553 |
Hope For Haitis Children Ministries Inc Cincinnati, OH | $7,123,949 | $4,468,101 |
The Abim Foundation Philadelphia, PA | $92,491,227 | $11,488,048 |
Bringing Hope Home Inc Malvern, PA | $706,369 | $2,303,858 |
Cookies For Kids Cancer Califon, NJ | $3,410,240 | $2,364,523 |
Southern Chester County Emergency Medical Services Inc Avondale, PA | $1,825,972 | $1,565,526 |
Cool Kids Campaign Foundation Inc Towson, MD | $935,182 | $1,348,951 |
Sharpe-Strumia Research Foundation Of The Bryn Mawr Hospital Bryn Mawr, PA | $25,307,489 | $1,417,708 |