Civic Intelligence

Bizdom

990 • Fiscal year 2016 • EIN 20-4775521

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 15, 2017

C/O Rock Ventures 1074 Woodward AveDetroit, MI 48226

(313) 833-7800

Siviq Scores

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

Liabilities / Assets

98th percentile

3.01x

Higher debt load relative to assets than 98% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2016

Net Margin

100th percentile

982%

Higher net margin than 100% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

5th percentile

-70%

Faster asset growth than 5% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2015 to 2016

Assets

Down

$196,494

Down $448,745 (-70%) from 2015

Net Assets

Down

-$394,168

Down $334,745 (-563%) from 2015

Liabilities

Down

$590,662

Down $114,000 (-16%) from 2015

Revenue

Down

-$34,074

Down $1,424,752 (-102%) from 2015

Expenses

Down

$300,671

Down $1,659,557 (-85%) from 2015

Net Income

Up

-$334,745

Up $234,805 (+41%) from 2015

Historical Trend

Balance Sheet Trend

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

$2.0M$1.0M$0-$1.0MAssets 2010: $255,424Liabilities 2010: $191,764Net Assets 2010: $63,6602010Assets 2011: $147,746Liabilities 2011: $260,778Net Assets 2011: -$113,0322011Assets 2012: $465,444Liabilities 2012: $742,381Net Assets 2012: -$276,9372012Assets 2013: $1,551,920Liabilities 2013: $1,057,673Net Assets 2013: $494,2472013Assets 2014: $723,990Liabilities 2014: $213,863Net Assets 2014: $510,1272014Assets 2015: $645,239Liabilities 2015: $704,662Net Assets 2015: -$59,4232015Assets 2016: $196,494Liabilities 2016: $590,662Net Assets 2016: -$394,1682016Assets 2017: $194,539Liabilities 2017: $890,815Net Assets 2017: -$696,2762017Assets 2018: $185,426Liabilities 2018: $886,976Net Assets 2018: -$701,5502018Assets 2019: $183,435Liabilities 2019: $1,141,936Net Assets 2019: -$958,5012019Assets 2020: $187,543Liabilities 2020: $1,155,768Net Assets 2020: -$968,2252020Assets 2021: $335,201Liabilities 2021: $1,311,100Net Assets 2021: -$975,8992021Assets 2022: $343,643Liabilities 2022: $1,325,028Net Assets 2022: -$981,3852022Assets 2023: $348,625Liabilities 2023: $1,340,827Net Assets 2023: -$992,2022023Assets 2024: $349,031Liabilities 2024: $1,348,827Net Assets 2024: -$999,7962024

Highlighted filing

2016

Assets$196,494
Liabilities$590,662
Net Assets-$394,168

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,183,6542010Revenue 2011: $1,257,704Expenses 2011: $1,434,396Net Income 2011: -$176,6922011Expenses 2012: $1,995,4142012Revenue 2013: $3,264,240Expenses 2013: $2,493,056Net Income 2013: $771,1842013Revenue 2014: $2,155,056Expenses 2014: $2,139,176Net Income 2014: $15,8802014Revenue 2015: $1,390,678Expenses 2015: $1,960,228Net Income 2015: -$569,5502015Revenue 2016: -$34,074Expenses 2016: $300,671Net Income 2016: -$334,7452016Revenue 2017: $0Expenses 2017: $302,108Net Income 2017: -$302,1082017Revenue 2018: $0Expenses 2018: $5,274Net Income 2018: -$5,2742018Revenue 2019: $0Expenses 2019: $256,951Net Income 2019: -$256,9512019Revenue 2020: $0Expenses 2020: $9,724Net Income 2020: -$9,7242020Revenue 2021: $0Expenses 2021: $7,674Net Income 2021: -$7,6742021Revenue 2022: $0Expenses 2022: $5,486Net Income 2022: -$5,4862022Revenue 2023: $0Expenses 2023: $10,817Net Income 2023: -$10,8172023Revenue 2024: $0Expenses 2024: $7,594Net Income 2024: -$7,5942024

Highlighted filing

2016

Revenue-$34,074
Expenses$300,671
Net Income-$334,745
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 15, 2017
Return Version
2016v3.0
Gross Receipts
$78,853
Mission and Program Overview

Mission

To operate exclusively for charitable and educational purposes by establishing, maintaining and operating academies devoted to teaching business and entrepreneurial skills to students with the intent of training, mentoring and supporting aspiring entrepreneurs in the creation, development, and ongoing management of successful business ventures with a nexus to detroit, michigan or cleveland, ohio.

Bizdom is a startup accelerator that provides intense mentorship to entrepreneurs looking to launch and grow innovative tech-based startups in the downtown urban cores of detroit and cleveland.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$190,417$0▼ $190,417
Other Notes and Loans Receivable, Net$170,384$170,384→ $0
Prepaid Expenses and Deferred Charges$16,702$11,317▼ $5,385
Accounts Receivable$177,433$7,805▼ $169,628
Cash and Non-Interest-Bearing Accounts$90,303$6,988▼ $83,315
Total Assets$645,239$196,494▼ $448,745
Liabilities
Other Liabilities$0$390,064▲ $390,064
Accounts Payable and Accrued Expenses$704,662$200,598▼ $504,064
Total Liabilities$704,662$590,662▼ $114,000
Net Assets / Fund Balance
Unrestricted Net Assets$-59,423$-394,168▼ $334,745
Total Net Assets Fund Balance$-59,423$-394,168▼ $334,745
Total Liabilities and Net Assets / Fund Balance$645,239$196,494▼ $448,745
Compensation and Service Providers

Board Members and Trustees

NameTitle
dan gilbertBoard Chairman
Josh Mcmanusvice president
Matthew Rizikvice president
Jeff Halperndirector
barbara mahonedirector
david Carrolldirector
matt cullendirector
walter douglas srdirector
Revenue and Support

Revenue Composition

Contributions and Grants
$78,853
Program Service Revenue
$0
Investment Income
$-112,927
Other Revenue
$0
All Other Contributions
$78,853
Change in Net Assets
$-334,745
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$198,405
Other Expenses$102,266
Total Fundraising Expense$30
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$198,405--$198,405
Depreciation Depletion-$45,224-$45,224
Insurance$17,883-$30$17,913
Fees for Services Accounting$17,069--$17,069
Occupancy$12,576--$12,576
Information Technology$2,686--$2,686
Travel$713--$713
All Other Expenses$239--$239
Other Expenses$979$130-$130
Total Functional Expenses$255,287$45,354$30$300,671
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
quicken loans incownership by interested partiescontribution revenueNo-
rock gamingownership by interested partiescontribution revenueNo-
rock ohio ventures llcownership by interested partiescontribution revenueNo-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accounts Payable - Related Party$390,064
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with family members
No
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 2

The following board members have business relationships: Dan Gilbert and David Carroll Dan Gilbert and Matt Cullen

Form 990, Part VI, Section B, line 11B

The audit committee & executive director reviews the form 990 before it is signed and submitted.

Form 990, Part VI, Section B, line 12C

Our policy requires that voting members have a duty to disclose actual or potential conflicts of interest. All Board members are covered under the policy. the organization provides all board members with a conflict of interest disclosure form on an annual basis.

Form 990, Part VI, Section B, line 15

Compensation is determined via a consent signed by the majority of the Board of directors excluding the executive director.

Form 990, Part VI, Section C, line 19

Bizdom's governing documents are made available upon request by mail or electronically.

Filing and Contact Details

Filer

Filer Name
Bizdom
EIN
20-4775521
Phone
3138337800
Address
C/O Rock Ventures 1074 Woodward Ave, Detroit, MI 48226

Signing Officer

Name
Matthew Rizik
Title
CFO
Phone
3138337800
Signed
2017-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
matthew rizik
Formed
2006
Legal Domicile
Mi
Voting Board Members
8
Independent Board Members
7
Employees
0
Volunteers
16

Preparer

Firm
Baker Tilly Virchow Krause LLP
Address
2000 Town Center Ste 900, Southfield, MI 48075
Preparer
Michael Fenberg
Phone
2483727300
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0Bizdom disclosed its nondiscriminatory policy through newspaper during its registration period in 2006 and it is also listed on every page of the website www.bizdom.com and on all recruiting materials.
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1rock gaming
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm2rock ohio ventures llc
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0ownership by interested parties
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1ownership by interested parties
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt2ownership by interested parties
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd10
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd20
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0contribution revenue
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1contribution revenue
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc2contribution revenue
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The following board members have business relationships: Dan Gilbert and David Carroll Dan Gilbert and Matt Cullen
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE AUDIT COMMITTEE & EXECUTIVE DIRECTOR REVIEWS THE FORM 990 BEFORE IT IS SIGNED AND SUBMITTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Our policy requires that voting members have a duty to disclose actual or potential conflicts of interest. All Board members are covered under the policy. the organization provides all board members with a conflict of interest disclosure form on an annual basis.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Compensation is determined via a consent signed by the majority of the Board of directors excluding the executive director.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Bizdom's governing documents are made available upon request by mail or electronically.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0bizdom fund
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0462202278
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0MI
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0investments
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0bizdom ventures
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt01074 woodward ave
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0detroit
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0MI
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd048226
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Bizdom Fund
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0260730096
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Provide funding for businesses developed through Bizdom
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0Line 12a, I
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01074 Woodward Ave
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Detroit
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd048226
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MI
IRS990/StatesWhereCopyOfReturnIsFldCd1OH
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0645239
IRS990/TotalAssetsEOYAmt0196494
IRS990/TotalAssetsGrp/BOYAmt0645239
IRS990/TotalAssetsGrp/EOYAmt0196494
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt078853
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt030
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt045354
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0255287
IRS990/TotalFunctionalExpensesGrp/TotalAmt0300671
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0704662
IRS990/TotalLiabilitiesEOYAmt0590662
IRS990/TotalLiabilitiesGrp/BOYAmt0704662
IRS990/TotalLiabilitiesGrp/EOYAmt0590662
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-59423
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-394168
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0255287
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0-112927
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0-34074
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt016
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0645239
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0196494
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0713
IRS990/TravelGrp/TotalAmt0713
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-59423
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-394168
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0C/O Rock Ventures 1074 Woodward Ave
IRS990/USAddress/CityNm0Detroit
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd048226
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.BIZDOM.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Matthew Rizik
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0cfo
ReturnHeader/BusinessOfficerGrp/PhoneNum03138337800
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BIZDOM
ReturnHeader/Filer/BusinessNameControlTxt0BIZD
ReturnHeader/Filer/EIN0204775521
ReturnHeader/Filer/PhoneNum03138337800
ReturnHeader/Filer/USAddress/AddressLine1Txt0C/O Rock Ventures 1074 Woodward Ave
ReturnHeader/Filer/USAddress/CityNm0Detroit

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.35$1.35$1.00$0.00$0.01$0.01
2023Detailed filing. Detailed filing data is available for this year.$0.35$1.34$0.99$0.00$0.01$0.01
2022Detailed filing. Detailed filing data is available for this year.$0.34$1.33$0.98$0.00$0.01$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.34$1.31$0.98$0.00$0.01$0.01
2020Detailed filing. Detailed filing data is available for this year.$0.19$1.16$0.97$0.00$0.01$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.18$1.14$0.96$0.00$0.26$0.26
2018Detailed filing. Detailed filing data is available for this year.$0.19$0.89$0.70$0.00$0.01$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.19$0.89$0.70$0.00$0.30$0.30
2016Detailed filing. Detailed filing data is available for this year.$0.20$0.59$0.39$0.03$0.30$0.33
2015Detailed filing. Detailed filing data is available for this year.$0.65$0.70$0.06$1.39$1.96$0.57
2014Detailed filing. Detailed filing data is available for this year.$0.72$0.21$0.51$2.16$2.14$0.02
2013Detailed filing. Detailed filing data is available for this year.$1.55$1.06$0.49$3.26$2.49$0.77
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.47$0.74$0.28$2.00
2011Summary only. Only limited summary data is available for this year.$0.15$0.26$0.11$1.26$1.43$0.18
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.26$0.19$0.06$1.18