Civic Intelligence

Keweenaw Economic Development Alliance

990 • Fiscal year 2024 • EIN 23-7314061

Jan 01, 2024 to Dec 31, 2024 • Filed on May 05, 2025

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

33rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

33rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

91st percentile

55%

Higher net margin than 91% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

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

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

89th percentile

57%

Faster asset growth than 89% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

92nd percentile

122%

Faster revenue growth than 92% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Assets

Up

$699,145

Up $254,405 (+57%) from 2023

Net Assets

Up

$699,145

Up $293,120 (+72%) from 2023

Liabilities

Down

$0

Down $38,715 (-100%) from 2023

Revenue

Up

$522,303

Up $286,560 (+122%) from 2023

Expenses

Up

$234,564

Up $37,120 (+19%) from 2023

Net Income

Up

$287,739

Up $249,440 (+651%) from 2023

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

2024

Assets$699,145
Liabilities$0
Net Assets$699,145

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

2024

Revenue$522,303
Expenses$234,564
Net Income$287,739
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 5, 2025
Return Version
2024v5.0
Gross Receipts
$522,303
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$187,206$351,157▲ $163,951
Savings and Temporary Cash Investments-$307,374-
Cash and Non-Interest-Bearing Accounts$254,704$29,787▼ $224,917
Land, Buildings, and Equipment, Net$293$8,473▲ $8,180
Accounts Receivable$2,537$2,354▼ $183
Total Assets$444,740$699,145▲ $254,405
Liabilities
Accounts Payable and Accrued Expenses$38,715--
Total Liabilities$38,715$0▼ $38,715
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$406,025$699,145▲ $293,120
Total Net Assets Fund Balance$406,025$699,145▲ $293,120
Total Liabilities and Net Assets / Fund Balance$444,740$699,145▲ $254,405

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$8,473$6,027$14,500
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$444,554
Program Service Revenue
$55,308
Investment Income
$22,441
Other Revenue
$0
Change in Net Assets
$287,739
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$234,564
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$14,655--$14,655
Conferences and Meetings$8,430$422-$8,852
Depreciation Depletion$6,004--$6,004
Travel$2,804$2,805-$5,609
Occupancy-$5,355-$5,355
Advertising$1,500--$1,500
Office Expenses$521$564-$1,085
Insurance-$963-$963
Fees for Services Accounting$800--$800
Other Expenses$947$575-$575
All Other Expenses-$295-$295
Fees for Services Legal-$35-$35
Total Functional Expenses$129,121$105,443$0$234,564
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
Backup withholding compliance
No
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
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

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

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
2025-05-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeff Ratcliffe
Voting Board Members
12
Independent Board Members
12
Employees
0

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 - ORGANIZATION'S 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.

Form 990, Page 2, Part III, Line 4D

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

Form 990, Part XI, Line 9

Book / tax depreciation difference 5,381

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IRS990/ProgSrvcAccomActy2Grp/Desc0REVITALIZING COMMUNITIES INCLUDING WORK WITH HOUGHTON COUNTY LANDBANK, STABILIZATION OF BUILDINGS IN CALUMET AND REDEVELOPMENT PROJECTS IN VARIOUS COMMUNITIES
IRS990/ProgSrvcAccomActy3Grp/Desc0RETAINING AND ATTRACTING TALENT INCLUDING THE AWARD OF NINE 500 SCHOLARSHIPS TO GRADUATING SENIORS PURSUING A SKILLED TRADE PROGRAM
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt07236
IRS990/ProgSrvcAccomActyOtherGrp/Desc0OTHER INCLUDES INFRASTRUCTURE DEVELOPMENT, ENHANCING CULTURAL AND RECREATION OPPORTUNITIES, FUNDRAISING, AND ADMINISTRATION
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt059220
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt010173
IRS990/PYOtherExpensesAmt0197444
IRS990/PYProgramServiceRevenueAmt0166350
IRS990/PYRevenuesLessExpensesAmt038299
IRS990/PYTotalExpensesAmt0197444
IRS990/PYTotalRevenueAmt0235743
IRS990/ReconcilationRevenueExpnssAmt0287739
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RelatedOrganizationsAmt0220224
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0307374
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0PROGRAM SERVICE REVENUE 147,060
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0444554
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt059220
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt018394
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0116337
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt067025
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0705530
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt020222
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt010173
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt08615
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt05760
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt06479
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt051249
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0448669
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt055308
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt026375
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt016577
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt015000
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt089108
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0202368
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.73560
IRS990ScheduleA/PublicSupportPY170Pct00.65070
IRS990ScheduleA/PublicSupportTotal170Amt0705530
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0444554
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt059220
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt018394
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0116337
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt067025
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0705530
IRS990ScheduleA/TotalSupportAmt0959147
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt08473
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt06027
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt014500
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08473
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IMPROVING 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/ExplanationTxt1OTHER INCLUDES INFRASTRUCTURE DEVELOPMENT, ENHANCING CULTURAL AND RECREATION OPPORTUNITIES, FUNDRAISING, AND ADMINISTRATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOOK / TAX DEPRECIATION DIFFERENCE 5,381
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0444740
IRS990/TotalAssetsEOYAmt0699145
IRS990/TotalAssetsGrp/BOYAmt0444740
IRS990/TotalAssetsGrp/EOYAmt0699145
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0444554
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0105443
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0129121
IRS990/TotalFunctionalExpensesGrp/TotalAmt0234564
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt038715
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt038715
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0406025
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0699145
IRS990/TotalProgramServiceExpensesAmt0129121
IRS990/TotalProgramServiceRevenueAmt055308
IRS990/TotalRevenueGrp/ExclusionAmt075530
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02219
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0522303
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0444740
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0699145
IRS990/TravelGrp/ManagementAndGeneralAmt02805
IRS990/TravelGrp/ProgramServicesAmt02804
IRS990/TravelGrp/TotalAmt05609
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0600 E LAKESHORE DRIVE
IRS990/USAddress/AddressLine2Txt0X
IRS990/USAddress/CityNm0HOUGHTON
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd049931
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0WWW.KEDABIZ.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JEFF RATCLIFFE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09064826817
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0KEWEENAW ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0ALLIANCE
ReturnHeader/Filer/BusinessNameControlTxt0KEWE
ReturnHeader/Filer/EIN0237314061
ReturnHeader/Filer/PhoneNum09064826817
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 724
ReturnHeader/Filer/USAddress/CityNm0HOUGHTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd049931
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false

Document Assets

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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