We may have to wait a while longer for TMCC’s 2023 Form 990

Soon after the last post we learned that TMCC could file an extension allowing them to defer filing their Form 990 until Nov 15, 2024.

Based on their 2020 Form 990 dated Nov 12 2021, it looks like they probably file that exemption to keep their results out of the public eye as long as legally possible. As they have reported their results to their members, their audit must be done so their final financial results are available.

Until then, we can share their March 2024 Annual General meeting handout where TMCC reported a loss of $20,000 for 2023. That loss is, of course, after getting use of our assets for $10/year and also receiving the $600,000 Renaissance Access fee/subsidy.

Good news though: the MCA President assures us they are investing all of that loss right back into their operations (yes, that makes no sense but that’s what the MCA President keeps telling us).

Interestingly, since we brought to light that their Form 990’s are publicly available, they included much more detail in their annual meeting report than they have in the past…..but not as much as is in their Form 990 or audited financial statements.

TMCC’s 2024 First Quarter Report indicates the year has started very poorly as they reported that in their first quarter (which they state is traditionally their strongest quarter of the year), annual membership fees are down, and they are already $70,000 behind budget.

We’ll be back in touch about their 2023 Form 990 in November.