Civic Intelligence

Keweenaw Economic Development Alliance

990EZ • Fiscal year 2021 • EIN 23-7314061

Jan 01, 2021 to Dec 31, 2021 • Filed on May 17, 2022

PO Box 724Houghton, MI 49931

(906) 482-6817

Siviq Scores

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

Liabilities / Assets

77th percentile

0.09x

Higher debt load relative to assets than 77% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

84th percentile

0.20x

Higher debt load relative to revenue than 84% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

52nd percentile

9.9%

Higher net margin than 52% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

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.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

62nd percentile

16%

Faster asset growth than 62% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

52nd percentile

6.2%

Faster revenue growth than 52% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Assets

Up

$373,456

Up $52,270 (+16%) from 2020

Net Assets

Up

$338,295

Up $17,109 (+5.3%) from 2020

Liabilities

$35,161

No earlier filing loaded for comparison.

Revenue

Up

$172,635

Up $10,023 (+6.2%) from 2020

Expenses

Down

$155,561

Down $34,089 (-18%) from 2020

Net Income

Up

$17,074

Up $44,112 (+163%) from 2020

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2011: $340,692Liabilities 2011: $37,469Net Assets 2011: $303,2232011Assets 2012: $355,066Liabilities 2012: $44,701Net Assets 2012: $310,3652012Assets 2013: $346,585Liabilities 2013: $35,967Net Assets 2013: $310,6182013Assets 2014: $266,202Net Assets 2014: $266,2022014Assets 2015: $294,938Liabilities 2015: $500Net Assets 2015: $294,4382015Assets 2016: $352,344Net Assets 2016: $352,3442016Assets 2017: $350,613Liabilities 2017: $17,501Net Assets 2017: $333,1122017Assets 2018: $360,773Liabilities 2018: $2,435Net Assets 2018: $358,3382018Assets 2019: $348,251Net Assets 2019: $348,2512019Assets 2020: $321,186Net Assets 2020: $321,1862020Assets 2021: $373,456Liabilities 2021: $35,161Net Assets 2021: $338,2952021Assets 2022: $402,736Liabilities 2022: $34,966Net Assets 2022: $367,7702022Assets 2023: $444,740Liabilities 2023: $38,715Net Assets 2023: $406,0252023Assets 2024: $699,145Liabilities 2024: $0Net Assets 2024: $699,1452024

Highlighted filing

2021

Assets$373,456
Liabilities$35,161
Net Assets$338,295

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2011: $116,836Expenses 2011: $103,831Net Income 2011: $13,0052011Revenue 2012: $125,374Expenses 2012: $118,233Net Income 2012: $7,1412012Revenue 2013: $130,346Expenses 2013: $130,091Net Income 2013: $2552013Revenue 2014: $108,181Expenses 2014: $152,597Net Income 2014: -$44,4162014Revenue 2015: $146,606Expenses 2015: $118,368Net Income 2015: $28,2382015Revenue 2016: $171,687Expenses 2016: $113,775Net Income 2016: $57,9122016Revenue 2017: $169,225Expenses 2017: $188,901Net Income 2017: -$19,6762017Revenue 2018: $149,291Expenses 2018: $124,084Net Income 2018: $25,2072018Revenue 2019: $137,323Expenses 2019: $147,399Net Income 2019: -$10,0762019Revenue 2020: $162,612Expenses 2020: $189,650Net Income 2020: -$27,0382020Revenue 2021: $172,635Expenses 2021: $155,561Net Income 2021: $17,0742021Revenue 2022: $179,461Expenses 2022: $149,939Net Income 2022: $29,5222022Revenue 2023: $235,743Expenses 2023: $197,444Net Income 2023: $38,2992023Revenue 2024: $522,303Expenses 2024: $234,564Net Income 2024: $287,7392024

Highlighted filing

2021

Revenue$172,635
Expenses$155,561
Net Income$17,074
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 17, 2022
Return Version
2021v4.0
Gross Receipts
$172,635
Mission and Program Overview

Mission

Improving the economy of the keweenaw region in order to relieve poverty and lessen neighborhood tension caused by the lack of jobs, combat community deterioration by stabilizing and rehabilitating downtown buildings, developing a mix of housing, establishing new businesses, growing existing businesses, eliminating conditions of blight, and providing benefit to the under and unemployed.

Program Services

DescriptionGrantsExpenses
FOSTERING BUSINESS GROWTH INCLUDING OVER 300 REGULAR RETENTION VISITS, COVID SMALL BUSINESS OUTREACH TO 1,000+ BUSINESSES, MADE 6 KRLF COVID RESPONSE LOANS, PROCESSED 303 APPLICATIONS FOR MICHIGAN SMALL BUSINESS RELIEF GRANTS AND LOANS, MATCH ON MAIN COVID GRANTS, AND MICHIGAN RESTART GRANTS - 60% OF TIME/EXPENSES-$75,830
RETAINING AND ATTRACTING TALENT INCLUDING THE AWARD OF NINE 500 SCHOLARSHIPS TO GRADUATING SENIORS PURSUING A SKILLED TRADE PROGRAM-$9,212
REVITALIZING COMMUNITIES INCLUDING WORK WITH HOUGHTON COUNTY LANDBANK, STABILIZATION OF BUILDINGS IN CALUMET AND REDEVELOPMENT PROJECTS IN VARIOUS COMMUNITIES--
OTHER INCLUDES INFRASTRUCTURE DEVELOPMENT, ENHANCING CULTURAL AND RECREATION OPPORTUNITIES, FUNDRAISING, AND ADMINISTRATION--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
JEFF RATCLIFFEExecutive Di-$0--
BRIAN BACCUSPresident-$0--
KEVIN CODEREMember-$0--
DAN CRANEMajor Accoun-$0--
JIM BAKERExecutive Di-$0--
TESS AHLBORNMember-$0--
BRAD BARNETTMember-$0--
AMY ISAACSONMember-$0--
TOM TIKKANENMember-$0--
DAVE VLAHOSMember-$0--
JERRY WUORENMAAMember-$0--
MATT KRAUSEMember-$0--
MARY BABCOCKMember-$0--
RYAN HEINONENMember-$0--
ADAM LAHTIMember-$0--
DAVID ROWEMember-$0--
TIM GASPERICHMember-$0--
Filing and Contact Details

Filer

Filer Name
Keweenaw Economic Development
EIN
23-7314061
Phone
9064826817
Address
PO BOX 724, HOUGHTON, MI 49931

Signing Officer

Name
Jeff Ratcliffe
Title
Executive Director
Phone
9064826817
Signed
2022-05-17
Discuss with paid preparer
Yes

Preparer

Firm
Randy Malueg CPA Pllc
Address
1501 N 26TH ST, ESCANABA, MI 49829
Preparer
Randy Malueg CPA
Phone
9062171040
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 16

Expenses office supplies 401 travel 4,753 conferences/meetings 1,396 meals 170 insurance 1,059 bank charges 873 contract services 125,380 internet 50 telephone 850 non-investment depreciation 36 total 134,968

Form 990-ez, Part II, Line 24

Accounts receivable 2,126 2,741 black ice comics 14,715 13,994 embody studio 20,429 19,745 iperservered 27,554 25,880 pm power group 41,057 25,661 rave salon 11,163 10,618 superior transportation 5,830 5,143 up north pizzeria 21,045 0 5,697 5,697 less accumulated depreciation 5,164 5,200 total 144,452 104,279

Form 990-ez, Part II, Line 26

Accounts payable and accrued expenses 0 35,161 prepaid dues 0 0 scholorships awarded 0 0

Form 990-ez, Part III

Improving the economy of the keweenaw region in order to relieve poverty and lessen neighborhood tension caused by the lack of jobs, combat community deterioration by stabilizing and rehabilitating downtown buildings, developing a mix of housing, establishing new businesses, growing existing businesses, eliminating conditions of blight, and providing benefit to the under and unemployed.

Form 990-ez, Part III, Line 28

Fostering business growth including over 300 regular retention visits, covid small business outreach to 1,000+ businesses, made 6 krlf covid response loans, processed 303 applications for michigan small business relief grants and loans, match on main covid grants, and michigan restart grants - 60% of time/expenses

Form 990-ez, Part III, Line 31

Other includes infrastructure development, enhancing cultural and recreation opportunities, fundraising, and administration

Raw XML Appendix214 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt1REVITALIZING COMMUNITIES INCLUDING WORK WITH HOUGHTON COUNTY LANDBANK, STABILIZATION OF BUILDINGS IN CALUMET AND REDEVELOPMENT PROJECTS IN VARIOUS COMMUNITIES
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt2RETAINING AND ATTRACTING TALENT INCLUDING THE AWARD OF NINE 500 SCHOLARSHIPS TO GRADUATING SENIORS PURSUING A SKILLED TRADE PROGRAM
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EXPENSES OFFICE SUPPLIES 401 TRAVEL 4,753 CONFERENCES/MEETINGS 1,396 MEALS 170 INSURANCE 1,059 BANK CHARGES 873 CONTRACT SERVICES 125,380 INTERNET 50 TELEPHONE 850 NON-INVESTMENT DEPRECIATION 36 TOTAL 134,968
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ACCOUNTS RECEIVABLE 2,126 2,741 BLACK ICE COMICS 14,715 13,994 EMBODY STUDIO 20,429 19,745 IPERSERVERED 27,554 25,880 PM POWER GROUP 41,057 25,661 RAVE SALON 11,163 10,618 SUPERIOR TRANSPORTATION 5,830 5,143 UP NORTH PIZZERIA 21,045 0 5,697 5,697 LESS ACCUMULATED DEPRECIATION 5,164 5,200 TOTAL 144,452 104,279
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ACCOUNTS PAYABLE AND ACCRUED EXPENSES 0 35,161 PREPAID DUES 0 0 SCHOLORSHIPS AWARDED 0 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3IMPROVING THE ECONOMY OF THE KEWEENAW REGION IN ORDER TO RELIEVE POVERTY AND LESSEN NEIGHBORHOOD TENSION CAUSED BY THE LACK OF JOBS, COMBAT COMMUNITY DETERIORATION BY STABILIZING AND REHABILITATING DOWNTOWN BUILDINGS, DEVELOPING A MIX OF HOUSING, ESTABLISHING NEW BUSINESSES, GROWING EXISTING BUSINESSES, ELIMINATING CONDITIONS OF BLIGHT, AND PROVIDING BENEFIT TO THE UNDER AND UNEMPLOYED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FOSTERING BUSINESS GROWTH INCLUDING OVER 300 REGULAR RETENTION VISITS, COVID SMALL BUSINESS OUTREACH TO 1,000+ BUSINESSES, MADE 6 KRLF COVID RESPONSE LOANS, PROCESSED 303 APPLICATIONS FOR MICHIGAN SMALL BUSINESS RELIEF GRANTS AND LOANS, MATCH ON MAIN COVID GRANTS, AND MICHIGAN RESTART GRANTS - 60% OF TIME/EXPENSES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5OTHER INCLUDES INFRASTRUCTURE DEVELOPMENT, ENHANCING CULTURAL AND RECREATION OPPORTUNITIES, FUNDRAISING, AND ADMINISTRATION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990-EZ, PART I, LINE 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990-EZ, PART II, LINE 24
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990-EZ, PART II, LINE 26
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990-EZ, PART III
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990-EZ, PART III, LINE 28
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990-EZ, PART III, LINE 31
ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RANDY MALUEG CPA PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01501 N 26TH ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ESCANABA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd049829
ReturnHeader/PreparerPersonGrp/PhoneNum09062171040
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RANDY MALUEG CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02022-07-06T13:57:46-05:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JEFF
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0RATCLIFFE
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.99$0.00$6.99$5.22$2.35$2.88
2023Detailed filing. Detailed filing data is available for this year.$4.45$0.39$4.06$2.36$1.97$0.38
2022Detailed filing. Detailed filing data is available for this year.$4.03$0.35$3.68$1.79$1.50$0.30
2021Detailed filing. Detailed filing data is available for this year.$3.73$0.35$3.38$1.73$1.56$0.17
2020Detailed filing. Detailed filing data is available for this year.$3.21$3.21$1.63$1.90$0.27
2019Detailed filing. Detailed filing data is available for this year.$3.48$3.48$1.37$1.47$0.10
2018Detailed filing. Detailed filing data is available for this year.$3.61$0.02$3.58$1.49$1.24$0.25
2017Detailed filing. Detailed filing data is available for this year.$3.51$0.18$3.33$1.69$1.89$0.20
2016Detailed filing. Detailed filing data is available for this year.$3.52$3.52$1.72$1.14$0.58
2015Detailed filing. Detailed filing data is available for this year.$2.95$0.01$2.94$1.47$1.18$0.28
2014Detailed filing. Detailed filing data is available for this year.$2.66$2.66$1.08$1.53$0.44
2013Detailed filing. Detailed filing data is available for this year.$3.47$0.36$3.11$1.30$1.30$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.55$0.45$3.10$1.25$1.18$0.07
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.41$0.37$3.03$1.17$1.04$0.13