Civic Intelligence

Economic Development Partnership of Hillsdale County Inc.

990 • Fiscal year 2020 • EIN 20-8088576

Jul 01, 2019 to Jun 30, 2020 • Filed on Sep 29, 2020

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

85th percentile

0.40x

Higher debt load relative to assets than 85% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

93rd percentile

0.88x

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

52nd percentile

6.3%

Higher net margin than 52% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2020

Asset Growth

54th percentile

6.2%

Faster asset growth than 54% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

37th percentile

-28%

Faster revenue growth than 37% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets85th percentile

Assets

Up

$463,931

Up $26,979 (+6.2%) from 2019

Net Assets

Up

$279,216

Up $13,219 (+5.0%) from 2019

Liabilities

Up

$184,715

Up $13,760 (+8.0%) from 2019

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin52nd percentile

Revenue

Down

$209,598

Down $80,466 (-28%) from 2019

Expenses

Down

$196,373

Down $77,208 (-28%) from 2019

Net Income

Down

$13,225

Down $3,258 (-20%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth54th 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

2020

Assets$463,931
Liabilities$184,715
Net Assets$279,216
Open 2020 Filing

Operations Trend

Revenue Growth37th 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

2020

Revenue$209,598
Expenses$196,373
Net Income$13,225
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Sep 29, 2020
Return Version
2019v5.0
Gross Receipts
$209,598
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$184,718$168,215▼ $16,503
Accounts Receivable$94,618$136,227▲ $41,609
Savings and Temporary Cash Investments$132,616$82,616▼ $50,000
Investments in Publicly Traded Securities$25,000$76,873▲ $51,873
Total Assets$436,952$463,931▲ $26,979
Liabilities
Unsecured Notes Loans Payable$170,943$164,163▼ $6,780
Other Liabilities-$20,497-
Accounts Payable and Accrued Expenses$12$55▲ $43
Total Liabilities$170,955$184,715▲ $13,760
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$216,591$220,769▲ $4,178
Net Assets With Donor Restrictions$49,406$58,447▲ $9,041
Total Net Assets Fund Balance$265,997$279,216▲ $13,219
Total Liabilities and Net Assets / Fund Balance$436,952$463,931▲ $26,979
Compensation and Service Providers
Top Officer PayScore unavailable

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
$144,289
Program Service Revenue
$63,435
Investment Income
$1,874
Other Revenue
$0
All Other Contributions
$15,826
Change in Net Assets
$13,225
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$130,196
Other Expenses$66,177
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$98,168$13,097-$111,265
Fees for Services Other$12,172--$12,172
Other Employee Benefits$4,047$6,070-$10,117
Payroll Taxes$7,774$1,040-$8,814
Insurance$4,502--$4,502
All Other Expenses$4,004--$4,004
Travel$2,557--$2,557
Other Expenses$1,818--$1,818
Advertising$1,759--$1,759
Fees for Services Accounting$1,635--$1,635
Office Expenses$1,190--$1,190
Conferences and Meetings$636--$636
Total Functional Expenses$176,166$20,207$0$196,373
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Sba Ppp Loan$20,497
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 35% controlled entity
No
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
2020-09-29
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 XI, Line 9

“-6”

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IRS990/OtherExpensesGrp/ProgramServicesAmt031426
IRS990/OtherExpensesGrp/ProgramServicesAmt12645
IRS990/OtherExpensesGrp/ProgramServicesAmt21833
IRS990/OtherExpensesGrp/ProgramServicesAmt31818
IRS990/OtherExpensesGrp/TotalAmt031426
IRS990/OtherExpensesGrp/TotalAmt12645
IRS990/OtherExpensesGrp/TotalAmt21833
IRS990/OtherExpensesGrp/TotalAmt31818
IRS990/OtherLiabilitiesGrp/EOYAmt020497
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt013097
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt098168
IRS990/OtherSalariesAndWagesGrp/TotalAmt0111265
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01040
IRS990/PayrollTaxesGrp/ProgramServicesAmt07774
IRS990/PayrollTaxesGrp/TotalAmt08814
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0TOM CONDON
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0LRTC COURSES
IRS990/ProgramServiceRevenueGrp/Desc1LRTC OUTSIDE SERVICES
IRS990/ProgramServiceRevenueGrp/Desc2RLF INTEREST AND FEES
IRS990/ProgramServiceRevenueGrp/Desc3RLF AT THE TURN
IRS990/ProgramServiceRevenueGrp/Desc4LRTC SPECIAL PROJECTS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt030452
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt118493
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt26707
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt34075
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt42708
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt030452
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt118493
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt26707
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt34075
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt42708
IRS990/ProgSrvcAccomActy2Grp/Desc0ADMINISTER LOANS PROVIDED TO BUSINESES THROUGH THE USDA LOAN PROGRAM.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt01734
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt010781
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0153614
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt027
IRS990/PYOtherExpensesAmt0157656
IRS990/PYProgramServiceRevenueAmt0136423
IRS990/PYRevenuesLessExpensesAmt016483
IRS990/PYSalariesCompEmpBnftPaidAmt0115925
IRS990/PYTotalExpensesAmt0273581
IRS990/PYTotalRevenueAmt0290064
IRS990/ReconcilationRevenueExpnssAmt013225
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt052654
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0132616
IRS990/SavingsAndTempCashInvstGrp/EOYAmt082616
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0144289
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0153614
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0166039
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0171437
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0185646
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0821025
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0265964
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt0821025
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0144289
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0153614
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0166039
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0171437
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0185646
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0821025
IRS990ScheduleA/TotalSupportAmt0821025
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt020497
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SBA PPP LOAN
IRS990ScheduleD/TotalLiabilityAmt020497
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/ExplanationTxt2-6
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 XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0436952
IRS990/TotalAssetsEOYAmt0463931
IRS990/TotalAssetsGrp/BOYAmt0436952
IRS990/TotalAssetsGrp/EOYAmt0463931
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0144289
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt020207
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0176166
IRS990/TotalFunctionalExpensesGrp/TotalAmt0196373
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0170955
IRS990/TotalLiabilitiesEOYAmt0184715
IRS990/TotalLiabilitiesGrp/BOYAmt0170955
IRS990/TotalLiabilitiesGrp/EOYAmt0184715
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0265997
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0279216
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt01000
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt01000
IRS990/TotalProgramServiceExpensesAmt0176166
IRS990/TotalProgramServiceRevenueAmt063435
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt065309
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0209598
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0436952
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0463931
IRS990/TravelGrp/ProgramServicesAmt02557
IRS990/TravelGrp/TotalAmt02557
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0170943
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0164163
IRS990/USAddress/AddressLine1Txt0250 INDUSTRIAL DRIVE
IRS990/USAddress/CityNm0HILLSDALE
IRS990/USAddress/StateAbbreviationCd0MI

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$463,931
Liabilities
$184,715
Net assets
$279,216
Revenue
$209,598
Expenses
$196,373
Net income
$13,225
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