Overview
What is Marygrove Conservancy?
The Marygrove Conservancy is a nonprofit organization located at 8425 WEST MCNICHOLS ROAD, Detroit, MI 48221. Their primary mission is to preserve the legacy of Marygrove College by fostering integrated P-20 educational opportunities for low-income children and families, primarily within the Livernois and McNichols corridors of Detroit, Michigan. The organization operates various buildings that were once part of Marygrove College, such as the Liberal Arts Building, the Madame Cadillac Building, and others. The Marygrove Conservancy receives and administers funds and properties for charitable, educational, scientific, and literary purposes, aiming to support integrated P-20 education models that offer comprehensive support from pre-natal to college, career, and community-based activities. With a dedicated workforce of three individuals, the Conservancy aims to enhance educational opportunities and create a positive impact in the local community.
What are the reviews and ratings of this charity?
82% rating from Charity Navigator indicates that Marygrove Conservancy has a solid performance in terms of accountability and finance, achieving a Three-Star out of Four Star rating. The score reflects a comprehensive evaluation focused solely on financial health and governance practices, with an impressive 100% independent board and strong oversight mechanisms in place.
The organization demonstrates financial stability, highlighted by an 81.79% program expense ratio, meaning a significant portion of funds goes directly to its programs. Fundraising efficiency is also commendable, with only $0.05 spent to raise each dollar, indicating effective resource management. Additionally, the working capital ratio of 1.56 years suggests that the organization is well-positioned to handle its operational costs in the near term.
However, while the financial metrics are strong, the data does not provide insights into the organization’s programmatic impact or community feedback, which are essential for a comprehensive evaluation of effectiveness. Overall, Marygrove Conservancy appears to be a well-managed nonprofit with transparency in its operations.
This AI summary has been generated from information found on Charity Navigator.
Is Marygrove Conservancy legitimate?
Marygrove Conservancy is a legitimate nonprofit organization registered as a 501(c)(3) entity. Marygrove Conservancy submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $563,385
Professional Fundraising Fees: $0
Other Salaries and Wages: $109,460
For more financial information, click here
What is the mission statement of Marygrove Conservancy?
The Marygrove Conservancy's mission is centered around preserving educational opportunities for low-income children and families, with a focus on the Livernois and McNichols corridors in Detroit, Michigan. Their goal is to utilize funds and property for charitable, educational, scientific, and literary purposes, while also preserving the legacy of Marygrove College. They strive to advance education by offering space, infrastructure, and assistance to support integrated P-20 educational models, providing comprehensive support from pre-natal stages through college, careers, and various community-based activities and programming.
Who is the CEO of Marygrove Conservancy?
Sr Mary Jane Herb is the Chair of Marygrove Conservancy. The CEO's salary of Marygrove Conservancy is $412,923 and their total compensation is $412,923.
What is the revenue of Marygrove Conservancy?
Marygrove Conservancy's revenue in 2022 was $4,577,465.
Who are the executives of Marygrove Conservancy and what are their salaries?
The average compensation at Marygrove Conservancy during 2022 was $224,282. There are 3 employees and 7 volunteers at Marygrove Conservancy.
Here are 11 key members and their salaries (Marygrove Conservancy's CEO's salary is $412,923 and their total compensation is $412,923):
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- Compensation: $412,923
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- Compensation: $150,462
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- Other: $0
Where can I find the form 990 for Marygrove Conservancy?
Marygrove Conservancy's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Marygrove Conservancy
The Marygrove Conservancy is committed to preserving the legacy of Marygrove College by promoting integrated P-20 educational opportunities for low-income children and families. This mission is carried out by administering funds, property, and operating for charitable, educational, scientific, and literary purposes. The organization's primary goal is to preserve the legacy of Marygrove College by advancing education for children and families within the Livernois and McNichols corridors of Detroit, Michigan. This is achieved by providing space, infrastructure, and assistance to support integrated P-20 education models, which offer comprehensive support from pre-natal stages through college to career, and other community-based activities and programming.
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Impact
July, 2024
Marygrove Conservancy's impact is evident in its commitment to preserving the legacy of Marygrove College through the advancement of integrated P-20 educational opportunities for low-income children and families, particularly within the Livernois and McNichols corridors of Detroit, Michigan. By operating various properties associated with Marygrove College, such as the liberal arts building, Madame Cadillac building, and others, the Conservancy facilitates educational initiatives that provide comprehensive support from pre-natal through college to career. Through its work, Marygrove Conservancy aims to make a lasting difference in the lives of individuals in these communities, ensuring access to quality education and holistic development opportunities.
This information is meant to be a general summary of Marygrove Conservancy. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $15,214
- Gross Receipts: $4,577,465
Assets and Liabilities:
- Total Assets: $102,325,216
- Total Liabilities: $93,037,862
- Net Assets: $9,287,354
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Organization Details
Founding Year
2017
Phone
(313) 927-1200Principal Officer
Sr Mary Jane Herb
Main Address
8425 WEST MCNICHOLS ROAD, DETROIT, MI, 482212546
NTEE Category
Code: B19 - Education
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