Civic Intelligence

Micholdings Inc

990 • Fiscal year 2014 • EIN 20-2112995

Oct 01, 2013 to Sep 30, 2014 • Filed on May 08, 2015

Organization ProfileWWW.MICHOLDINGS.COM
2004 Hogback Rd Suite 748105

(734) 883-4071

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

76th percentile

0.45x

Higher debt load relative to assets than 76% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

38th percentile

0.06x

Higher debt load relative to revenue than 38% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

24th percentile

-7.1%

Higher net margin than 24% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

70th percentile

$100,901

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

2nd percentile

-39%

Faster asset growth than 2% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

71st percentile

15%

Faster revenue growth than 71% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2011 to 2014

Balance Sheet
Liabilities / Assets76th percentile

Assets

Down

$369,604

Down $232,640 (-39%) from 2013

Net Assets

Down

$204,687

Down $196,487 (-49%) from 2013

Liabilities

Down

$164,917

Down $36,153 (-18%) from 2013

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin24th percentile

Revenue

$2,740,948

No earlier filing loaded for comparison.

Expenses

Down

$2,934,605

Down $6,923 (-0.2%) from 2013

Net Income

-$193,657

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$800K$600K$400K$200K$0Assets 2011: $330,057Liabilities 2011: $95,149Net Assets 2011: $234,9082011Assets 2012: $462,221Liabilities 2012: $92,892Net Assets 2012: $369,3292012Assets 2013: $602,244Liabilities 2013: $201,070Net Assets 2013: $401,1742013Assets 2014: $369,604Liabilities 2014: $164,917Net Assets 2014: $204,6872014Assets 2015: $216,121Liabilities 2015: $37,497Net Assets 2015: $178,6242015Assets 2016: $27,848Liabilities 2016: $10,110Net Assets 2016: $17,7382016

Highlighted filing

2014

Assets$369,604
Liabilities$164,917
Net Assets$204,687
Open 2014 Filing

Operations Trend

Revenue Growth71st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,786,338Expenses 2011: $1,702,833Net Income 2011: $83,5052011Expenses 2012: $2,128,7692012Expenses 2013: $2,941,5282013Revenue 2014: $2,740,948Expenses 2014: $2,934,605Net Income 2014: -$193,6572014Revenue 2015: $1,021Expenses 2015: $27,084Net Income 2015: -$26,0632015Revenue 2016: -$10,529Expenses 2016: $150,357Net Income 2016: -$160,8862016

Highlighted filing

2014

Revenue$2,740,948
Expenses$2,934,605
Net Income-$193,657
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2013 to Sep 30, 2014
Signed
May 8, 2015
Return Version
2013v4.0
Gross Receipts
$2,782,894
Mission and Program Overview

Mission

Provide residential services to persons, primarily located in michigan, who are developmentally disabled, physically handicapped, mentally ill, or traumatically brain injured

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$187,349$126,109▼ $61,240
Other Notes and Loans Receivable, Net-$92,644-
Receivables From Officers Etc-$91,490-
Investments in Publicly Traded Securities$76,308--
Land, Buildings, and Equipment, Net$121,600$56,429▼ $65,171
Savings and Temporary Cash Investments$50,276--
Prepaid Expenses and Deferred Charges$3,224--
Cash and Non-Interest-Bearing Accounts$158,932$2,932▼ $156,000
Total Assets$602,244$369,604▼ $232,640
Other Assets Total$4,555--
Liabilities
Accounts Payable and Accrued Expenses$139,950$118,949▼ $21,001
Other Liabilities$61,120$45,968▼ $15,152
Total Liabilities$201,070$164,917▼ $36,153
Net Assets / Fund Balance
Unrestricted Net Assets$401,174$204,687▼ $196,487
Total Net Assets Fund Balance$401,174$204,687▼ $196,487
Total Liabilities and Net Assets / Fund Balance$602,244$369,604▼ $232,640

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$56,429$18,810$75,239
Compensation and Service Providers
Top Officer Pay70th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ikechukwu OdumPresidentFT$100,901$100,901

Board Members and Trustees

NameTitle
Charles WattsDirector
Chris OmekamDirector
Jeremy MartinsDirector
Kayla MasonSecretary
Perpetua BrownTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,699,617
Investment Income
$33,814
Other Revenue
$7,517
Change in Net Assets
$-193,657

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,740,948
Revenue Not Reported on Form 990
$-2,830
Total Revenue per Audited Statements
$2,738,118
Total Revenue per Form 990
$2,740,948
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,292,773
Other Expenses$641,832
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,466,181$604,782-$2,070,963
Fees for Services Other$317,157$24,404-$341,561
Payroll Taxes$160,360$61,450-$221,810
Occupancy$112,741$14,469-$127,210
Insurance$26,177$19,093-$45,270
Depreciation Depletion-$25,245-$25,245
Travel$4,242$15,129-$19,371
All Other Expenses$2,587$12,157-$14,744
Other Expenses$5,136$3,730-$8,866
Interest-$3,738-$3,738
Office Expenses-$2,149-$2,149
Advertising-$119-$119
Total Functional Expenses$2,136,850$797,755$0$2,934,605

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,934,605
Total Expenses per Audited Statements$2,934,605
Total Expenses per Form 990$2,934,605
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Ike Odum JrSonWagesNo$131,810
Nneka OdumDaughterWagesNo$108,256
Naly OdumSpouseWagesNo$55,050
Ifeoma OdumDaughterWagesNo$46,210

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees-$91,490-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Auto Loan$45,968
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
Yes
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Form 990 is reviewed by the president before filing”

Form 990, Page 6, Part VI, Line 15A

“Annual reviews / performance evaluation”

Form 990, Page 6, Part VI, Line 15B

“Annual reviews / performance evaluation”

Form 990, Page 6, Part VI, Line 19

“UPON REQUEST”

Filing and Contact Details

Filer

EIN
20-2112995
Phone
7348834071

Signing Officer

Name
Ike Odum
Title
President
Phone
7348834071
Signed
2015-05-08

Organization Details

Formed
2005
Legal Domicile
Mi
Voting Board Members
6
Independent Board Members
5
Employees
166

Preparer

Preparer
Daniel T Alleman
Phone
7346656688
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Professional fees 4,421 24,404 0 contract services 312,736 0 0”

Financial Statement Notes

Schedule D, Page 3, Part X

“Micholdings has adopted the recognition requirements for uncertain income tax positions as required by gaap, with no cumulative effect adjustment required. Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by tax authorities. Micholdings has analyzed tax positions taken for filing with the internal revenue service and all state jurisdications where it operates. Micholdings believes that income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on micholdings financial condition, results of operations, or cash flows. Accordingly, micholdings has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at september 30, 2014 and 2013.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MICHOLDINGS HAS ADOPTED THE RECOGNITION REQUIREMENTS FOR UNCERTAIN INCOME TAX POSITIONS AS REQUIRED BY GAAP, WITH NO CUMULATIVE EFFECT ADJUSTMENT REQUIRED. INCOME TAX BENEFITS ARE RECOGNIZED FOR INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, ONLY WHEN IT IS DETERMINED THAT THE INCOME TAX POSITION WILL MORE-LIKELY-THAN-NOT BE SUSTAINED UPON EXAMINATION BY TAX AUTHORITIES. MICHOLDINGS HAS ANALYZED TAX POSITIONS TAKEN FOR FILING WITH THE INTERNAL REVENUE SERVICE AND ALL STATE JURISDICATIONS WHERE IT OPERATES. MICHOLDINGS BELIEVES THAT INCOME TAX FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE EFFECT ON MICHOLDINGS FINANCIAL CONDITION, RESULTS OF OPERATIONS, OR CASH FLOWS. ACCORDINGLY, MICHOLDINGS HAS NOT RECORDED ANY RESERVES, OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN INCOME TAX POSITIONS AT SEPTEMBER 30, 2014 AND 2013.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc5INTANGIBLES
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IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt5BOOK VALUE
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IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCode548197

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$369,604
Liabilities
$164,917
Net assets
$204,687
Revenue
$2,740,948
Expenses
$2,934,605
Net income
-$193,657
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$0.03$0.01$0.02$0.01$0.15$0.16
2015Detailed filing. Detailed filing data is available for this year.$0.22$0.04$0.18$0.00$0.03$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.37$0.16$0.20$2.74$2.93$0.19
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.60$0.20$0.40$2.94
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.46$0.09$0.37$2.13
2011Summary only. Only limited summary data is available for this year.$0.33$0.10$0.23$1.79$1.70$0.08