Not-for-Profit Subsidiary Activities |
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Not-for-Profit Subsidiary Activities | Note 20. Not-for-Profit Subsidiary Activities The following represent required disclosures related to the activities of MPC, the Company’s wholly owned, not-for-profit organization. At December 31, 2025 and December 31, 2024, the Company had $322 thousand and $304 thousand, respectively, in cash held in a checking account available to meet general expenditure needs for the next twelve months. This does not include $1.7 million in cash that carries permanent donor restrictions. At December 31, 2025, there were $75 thousand in funds accrued to distribute related to the designated fund agreement reached between MPC and a donor. Management believes the cash available for use by MPC is sufficient to cover its expenses. At December 31, 2025 and December 31, 2024, MPC had $2.1 million in net assets. At December 31, 2025 and December 31, 2024, $1.7 million of those net assets was permanently restricted by donors. MPC earned interest income of $77 thousand during the year ended December 31, 2025. MPC earned $84 thousand in interest income during the year ended December 31, 2024. A breakdown of expenses for MPC for the years ended December 31, 2025 and 2024 is as follows (dollars in thousands):
The change in net assets for MPC for the years ended December 31, 2025 and 2024 is as follows (dollars in thousands):
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