Civic Intelligence

Economic Development Partnership of Hillsdale County Inc.

990 • Fiscal year 2019 • EIN 20-8088576

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 26, 2019

Organization ProfileHILLSDALEEDP.ORG
115 East StreetJonesville, MI 49250

(517) 437-3200

Siviq Scores

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

Liabilities / Assets

88th percentile

0.39x

Higher debt load relative to assets than 88% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

93rd percentile

0.59x

Higher debt load relative to revenue than 93% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

55th percentile

5.7%

Higher net margin than 55% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

50th percentile

2.2%

Faster asset growth than 50% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

76th percentile

26%

Faster revenue growth than 76% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$436,952

Up $9,276 (+2.2%) from 2018

Net Assets

Up

$265,997

Up $15,992 (+6.4%) from 2018

Liabilities

Down

$170,955

Down $6,716 (-3.8%) from 2018

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin55th percentile

Revenue

Up

$290,064

Up $59,820 (+26%) from 2018

Expenses

Up

$273,581

Up $76,260 (+39%) from 2018

Net Income

Down

$16,483

Down $16,440 (-50%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth50th percentile

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

$600K$400K$200K$0Assets 2011: $86,899Liabilities 2011: $1,491Net Assets 2011: $85,4082011Assets 2012: $77,776Liabilities 2012: $2,621Net Assets 2012: $75,1552012Assets 2013: $124,152Liabilities 2013: $5,584Net Assets 2013: $118,5682013Assets 2014: $203,282Liabilities 2014: $62,438Net Assets 2014: $140,8442014Assets 2015: $209,056Liabilities 2015: $62,361Net Assets 2015: $146,6952015Assets 2016: $258,388Liabilities 2016: $93,547Net Assets 2016: $164,8412016Assets 2017: $323,480Liabilities 2017: $106,398Net Assets 2017: $217,0822017Assets 2018: $427,676Liabilities 2018: $177,671Net Assets 2018: $250,0052018Assets 2019: $436,952Liabilities 2019: $170,955Net Assets 2019: $265,9972019Assets 2020: $463,931Liabilities 2020: $184,715Net Assets 2020: $279,2162020Assets 2021: $497,319Liabilities 2021: $157,369Net Assets 2021: $339,9502021Assets 2022: $500,175Liabilities 2022: $150,472Net Assets 2022: $349,7032022Assets 2023: $500,710Liabilities 2023: $143,486Net Assets 2023: $357,2242023Assets 2024: $559,024Liabilities 2024: $140,341Net Assets 2024: $418,6832024

Highlighted filing

2019

Assets$436,952
Liabilities$170,955
Net Assets$265,997
Open 2019 Filing

Operations Trend

Revenue Growth76th percentile

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

$400K$300K$200K$100K$0-$100KExpenses 2011: $51,5582011Revenue 2012: $149,657Expenses 2012: $159,910Net Income 2012: -$10,2532012Expenses 2013: $143,5462013Revenue 2014: $206,905Expenses 2014: $184,629Net Income 2014: $22,2762014Revenue 2015: $154,088Expenses 2015: $148,237Net Income 2015: $5,8512015Revenue 2016: $189,303Expenses 2016: $171,157Net Income 2016: $18,1462016Revenue 2017: $234,370Expenses 2017: $189,907Net Income 2017: $44,4632017Revenue 2018: $230,244Expenses 2018: $197,321Net Income 2018: $32,9232018Revenue 2019: $290,064Expenses 2019: $273,581Net Income 2019: $16,4832019Revenue 2020: $209,598Expenses 2020: $196,373Net Income 2020: $13,2252020Revenue 2021: $208,934Expenses 2021: $168,697Net Income 2021: $40,2372021Revenue 2022: $254,139Expenses 2022: $239,431Net Income 2022: $14,7082022Revenue 2023: $299,538Expenses 2023: $292,018Net Income 2023: $7,5202023Revenue 2024: $341,476Expenses 2024: $280,016Net Income 2024: $61,4602024

Highlighted filing

2019

Revenue$290,064
Expenses$273,581
Net Income$16,483
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 26, 2019
Return Version
2018v3.1
Gross Receipts
$290,064
Mission and Program Overview

Mission

Provide economic development and education to hillsdale county, michigan.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$160,146$184,718▲ $24,572
Savings and Temporary Cash Investments$138,547$132,616▼ $5,931
Accounts Receivable$109,951$94,618▼ $15,333
Investments in Publicly Traded Securities$19,032$25,000▲ $5,968
Total Assets$427,676$436,952▲ $9,276
Liabilities
Unsecured Notes Loans Payable$177,661$170,943▼ $6,718
Accounts Payable and Accrued Expenses$10$12▲ $2
Total Liabilities$177,671$170,955▼ $6,716
Net Assets / Fund Balance
Unrestricted Net Assets$204,979$216,591▲ $11,612
Temporarily Rstr Net Assets$45,026$49,406▲ $4,380
Total Net Assets Fund Balance$250,005$265,997▲ $15,992
Total Liabilities and Net Assets / Fund Balance$427,676$436,952▲ $9,276
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Rick SchaererChairperson
Duke AndersonVice Chairma
Bill SleightDirector
Chris McarthurDirector
Chris PolingDirector
David MackieDirector
Don GermannDirector
Doug TerryDirector
Gregory MooreDirector
Jeff GrayDirector
John CondonDirector
Julie GamesDirector
Kym BlytheDirector
Ned BeverDirector
Nick KrzeminskiDirector
Ron GriffithDirector
Tony SamonDirector
Tracy McculloughDirector
Troy ReehlDirector
Vicki MorrisSecretary
Tom CondonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$153,614
Program Service Revenue
$136,423
Investment Income
$27
Other Revenue
$0
All Other Contributions
$27,287
Change in Net Assets
$16,483
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$157,656
Salaries, Compensation, and Employee Benefits$115,925
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$37,346$60,934-$98,280
Fees for Services Other$28,324--$28,324
Other Employee Benefits$3,907$5,861-$9,768
Payroll Taxes$3,939$3,938-$7,877
Insurance$5,224--$5,224
Travel$3,240--$3,240
All Other Expenses$2,695--$2,695
Advertising$2,350--$2,350
Fees for Services Accounting$1,704--$1,704
Conferences and Meetings$1,358--$1,358
Other Expenses$1,233--$1,233
Office Expenses$370--$370
Total Functional Expenses$202,848$70,733$0$273,581
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
No
Other officer compensation reviewed
No
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, Page 6, Part VI, Line 11B

“The organizaiton's process to review form 990 by the board chair, treasurer, and executive director review form 990 and approve for filing. The form is made available to other board members for their review upon their request.”

Form 990, Page 6, Part VI, Line 19

“The by-laws containing the conflict of interest policy and the financial statements are reviewed once per year with the public invited to attend.”

Filing and Contact Details

Filer

Filer Name
Economic Development Partnership
EIN
20-8088576
Phone
5174373200
Address
115 EAST STREET, JONESVILLE, MI 49250

Signing Officer

Name
Susan Smith
Title
Executive Director
Phone
5174373200
Signed
2019-11-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tom Condon
Formed
2007
Legal Domicile
Mi
Voting Board Members
21
Independent Board Members
21
Employees
2

Preparer

Firm
Condon Hecht Bisher Wade & Co Pc
Address
184 W CARLETON ROAD, HILLSDALE, MI 49242
Preparer
Donna J Hecht CPA
Phone
5174399331
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Contract services 1,800 0 0 annual dinner 8,304 0 0 special projects 18,220 0 0 total 28,324 0 0”

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IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0PROVIDE ECONOMIC DEVELOPMENT AND EDUCATION TO HILLSDALE COUNTY, MICHIGAN.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0250005
IRS990/NetAssetsOrFundBalancesEOYAmt0265997
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OfficeExpensesGrp/ProgramServicesAmt0370
IRS990/OfficeExpensesGrp/TotalAmt0370
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt05861
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt03907
IRS990/OtherEmployeeBenefitsGrp/TotalAmt09768
IRS990/OtherExpensesGrp/Desc0PROGRAM
IRS990/OtherExpensesGrp/Desc1TELEPHONE
IRS990/OtherExpensesGrp/Desc2USDA INTEREST
IRS990/OtherExpensesGrp/Desc3DUES AND SUBSCRIPTIONS
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IRS990/OtherExpensesGrp/ProgramServicesAmt11920
IRS990/OtherExpensesGrp/ProgramServicesAmt21772
IRS990/OtherExpensesGrp/ProgramServicesAmt31233
IRS990/OtherExpensesGrp/TotalAmt0107466
IRS990/OtherExpensesGrp/TotalAmt11920
IRS990/OtherExpensesGrp/TotalAmt21772
IRS990/OtherExpensesGrp/TotalAmt31233
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt060934
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IRS990/OtherSalariesAndWagesGrp/TotalAmt098280
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03938
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IRS990/PayrollTaxesGrp/TotalAmt07877
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0TOM CONDON
IRS990/PriorPeriodAdjustmentsAmt0-491
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgramServiceRevenueGrp/Desc1RLF INTEREST AND FEES
IRS990/ProgramServiceRevenueGrp/Desc2CONTRACTED SERVICES
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt16151
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0129597
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt16151
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2675
IRS990/ProgSrvcAccomActy2Grp/Desc0ADMINISTER LOANS PROVIDED TO BUSINESES THROUGH THE USDA LOAN PROGRAM.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt01772
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IRS990/PYContributionsGrantsAmt0166039
IRS990/PYExcessBenefitTransInd0false
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IRS990/PYOtherExpensesAmt083649
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IRS990/PYRevenuesLessExpensesAmt032923
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IRS990/ReconcilationRevenueExpnssAmt016483
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IRS990/RelatedEntityInd0false
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IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0185646
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0150202
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0200655
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0153614
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0185646
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0150202
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0826938
IRS990ScheduleA/TotalSupportAmt0826938
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IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZAITON'S PROCESS TO REVIEW FORM 990 BY THE BOARD CHAIR, TREASURER, AND EXECUTIVE DIRECTOR REVIEW FORM 990 AND APPROVE FOR FILING. THE FORM IS MADE AVAILABLE TO OTHER BOARD MEMBERS FOR THEIR REVIEW UPON THEIR REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BY-LAWS CONTAINING THE CONFLICT OF INTEREST POLICY AND THE FINANCIAL STATEMENTS ARE REVIEWED ONCE PER YEAR WITH THE PUBLIC INVITED TO ATTEND.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONTRACT SERVICES 1,800 0 0 ANNUAL DINNER 8,304 0 0 SPECIAL PROJECTS 18,220 0 0 TOTAL 28,324 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 11G
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0436952
IRS990/TotalAssetsGrp/BOYAmt0427676
IRS990/TotalAssetsGrp/EOYAmt0436952
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0153614
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt070733
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0202848
IRS990/TotalFunctionalExpensesGrp/TotalAmt0273581
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0177671
IRS990/TotalLiabilitiesEOYAmt0170955
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IRS990/TotalProgramServiceExpensesAmt0202848
IRS990/TotalProgramServiceRevenueAmt0136423
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0436952
IRS990/TravelGrp/ProgramServicesAmt03240
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$436,952
Liabilities
$170,955
Net assets
$265,997
Revenue
$290,064
Expenses
$273,581
Net income
$16,483
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.59$1.40$4.19$3.41$2.80$0.61
2023Detailed filing. Detailed filing data is available for this year.$5.01$1.43$3.57$3.00$2.92$0.08
2022Detailed filing. Detailed filing data is available for this year.$5.00$1.50$3.50$2.54$2.39$0.15
2021Detailed filing. Detailed filing data is available for this year.$4.97$1.57$3.40$2.09$1.69$0.40
2020Detailed filing. Detailed filing data is available for this year.$4.64$1.85$2.79$2.10$1.96$0.13
2019Detailed filing. Detailed filing data is available for this year.$4.37$1.71$2.66$2.90$2.74$0.16
2018Detailed filing. Detailed filing data is available for this year.$4.28$1.78$2.50$2.30$1.97$0.33
2017Detailed filing. Detailed filing data is available for this year.$3.23$1.06$2.17$2.34$1.90$0.44
2016Detailed filing. Detailed filing data is available for this year.$2.58$0.94$1.65$1.89$1.71$0.18
2015Detailed filing. Detailed filing data is available for this year.$2.09$0.62$1.47$1.54$1.48$0.06
2014Detailed filing. Detailed filing data is available for this year.$2.03$0.62$1.41$2.07$1.85$0.22
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.24$0.06$1.19$1.44
2012Summary only. Only limited summary data is available for this year.$0.78$0.03$0.75$1.50$1.60$0.10
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.87$0.01$0.85$0.52