Tusen Takk Foundation Inc
- Assets
- $4.4m
- Revenue
- $560.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Leland, MI
- Founding
- 04/2019
- Data as of
- 12/2022
- EIN
- 83-0885189
Organization Overview
Tusen Takk Foundation Inc is located in Leland, MI. The organization was established in 2019. According to its NTEE Classification (T23) the organization is classified as: Private Operating Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tusen Takk Foundation 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, Tusen Takk Foundation Inc generated $560.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (5.3%) each year. All expenses for the organization totaled $473.7k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION BUILT AND MAINTAINS A LOCATION FOR ARTISTS TO WORK, AND PROVIDES ARTISTS WITH ENGAGEMENT OPPORTUNITIES TO ENRICH THE CULTURE OF NORTHWEST MICHIGAN AND A PLATFORM TO SHARE THEIR WORK INTERNATIONALLY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Geoffrey Peckham Trustee/director | 20 | $35,000 | |
Patricia Melzer Trustee/assistant Director | 2.5 | $0 | |
Phillip Peckham Trustee/secretary | 1.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $560,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $560,000 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $35,000 |
| Other employee salaries and wages | $56,210 |
| Pension plans, employee benefits | $0 |
| Interest | $115,186 |
| Taxes | $14,529 |
| Depreciation | $137,783 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $101,417 |
| Total operating and administrative expenses | $463,675 |
| Contributions, gifts, grants paid | $10,000 |
| Total expenses and disbursements | $473,675 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,224 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $4,365,842 |
| Other assets | $3,500 |
| Total assets | $4,370,566 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $2,575,570 |
| Other liabilities | $0 |
| Total liabilities | $2,575,570 |