Civic Intelligence

The Payments Authority Inc

990 • Fiscal year 2014 • EIN 23-7390782

Jan 01, 2014 to Dec 31, 2014 • Filed on May 06, 2015

580 Kirts Blvd No 301Troy, MI 48084

(248) 952-5800

Siviq Scores

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

Liabilities / Assets

26th percentile

0.05x

Higher debt load relative to assets than 26% of similar nonprofits.

2014 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

23rd percentile

0.03x

Higher debt load relative to revenue than 23% of similar nonprofits.

2014 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2014

Net Margin

43rd percentile

2.0%

Higher net margin than 43% of similar nonprofits.

2014 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

72nd percentile

$194,843

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 10.8% of source-year revenue.

2014 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2014

Asset Growth

45th percentile

2.5%

Faster asset growth than 45% of similar nonprofits.

2014 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

35th percentile

0.2%

Faster revenue growth than 35% of similar nonprofits.

2014 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Assets

Up

$1,380,544

Up $33,577 (+2.5%) from 2013

Net Assets

Up

$1,317,887

Up $35,687 (+2.8%) from 2013

Liabilities

Down

$62,657

Down $2,110 (-3.3%) from 2013

Revenue

Up

$1,804,751

Up $3,683 (+0.2%) from 2013

Expenses

Up

$1,769,064

Up $659 (+0.0%) from 2013

Net Income

Up

$35,687

Up $3,024 (+9.3%) from 2013

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $1,610,934Liabilities 2010: $218,345Net Assets 2010: $1,392,5892010Assets 2011: $1,574,105Liabilities 2011: $228,787Net Assets 2011: $1,345,3182011Assets 2012: $1,339,405Liabilities 2012: $89,868Net Assets 2012: $1,249,5372012Assets 2013: $1,346,967Liabilities 2013: $64,767Net Assets 2013: $1,282,2002013Assets 2014: $1,380,544Liabilities 2014: $62,657Net Assets 2014: $1,317,8872014Assets 2015: $1,541,004Liabilities 2015: $2,133Net Assets 2015: $1,538,8712015Assets 2016: $0Liabilities 2016: $0Net Assets 2016: $02016

Highlighted filing

2014

Assets$1,380,544
Liabilities$62,657
Net Assets$1,317,887

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2010: $1,638,6642010Expenses 2011: $1,631,8502011Expenses 2012: $1,784,2942012Revenue 2013: $1,801,068Expenses 2013: $1,768,405Net Income 2013: $32,6632013Revenue 2014: $1,804,751Expenses 2014: $1,769,064Net Income 2014: $35,6872014Revenue 2015: $1,859,636Expenses 2015: $1,638,652Net Income 2015: $220,9842015Revenue 2016: $22Expenses 2016: $73,362Net Income 2016: -$73,3402016

Highlighted filing

2014

Revenue$1,804,751
Expenses$1,769,064
Net Income$35,687
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 6, 2015
Return Version
2014v5.0
Gross Receipts
$1,840,833
Mission and Program Overview

Mission

Our mission is to increase use and awareness of electronic payments made through the automated clearing house (ach) and to be an informational resource for ach and other payments such as check, wire transfer, atm and debit cards.

To increase the use and awareness of electronic payments made through the automated clearing house (ach) and to be an informational resource for ach and other payments such as check, wire transfer, atm and debit cards.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$790,457$942,119▲ $151,662
Cash and Non-Interest-Bearing Accounts$268,395$189,960▼ $78,435
Accounts Receivable$138,351$187,378▲ $49,027
Land, Buildings, and Equipment, Net$104,865$31,924▼ $72,941
Prepaid Expenses and Deferred Charges$37,473$25,015▼ $12,458
Inventories for Sale or Use$3,278$0▼ $3,278
Intangible Assets-$0-
Total Assets$1,346,967$1,380,544▲ $33,577
Other Assets Total$4,148$4,148→ $0
Liabilities
Accounts Payable and Accrued Expenses$60,980$52,693▼ $8,287
Deferred Revenue$3,787$9,964▲ $6,177
Total Liabilities$64,767$62,657▼ $2,110
Net Assets / Fund Balance
Unrestricted Net Assets$1,282,200$1,317,887▲ $35,687
Total Net Assets Fund Balance$1,282,200$1,317,887▲ $35,687
Total Liabilities and Net Assets / Fund Balance$1,346,967$1,380,544▲ $33,577

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$18,985$160,013$178,998
Other Land Buildings$12,939$25,877$38,816
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Amy L Smith AapPres/secrFT$141,849$52,994$194,843
Cynthia J ThompsonEdu/tr DirectorFT$111,908$19,582$131,490
Anne LapineMarketing/mem DirectorFT$102,033$26,146$128,179

Board Members and Trustees

NameTitle
Patty CampbellChairperson
Jeffery JacksonVice Chair
Ken JohnsonBoard Member
Martha PetersBoard Member
Ron KerverBoard Member
Scott HolzwarthBoard Member
Shannon TramontinBoard Member
Tiffany FordBoard Member
Tracy CosenzaBoard Member
Elizabeth SiewertTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,836,206
Investment Income
$-31,455
Other Revenue
$0
Change in Net Assets
$35,687
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,129,397
Other Expenses$639,667
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$720,189
Current Officers, Directors, Trustees, and Key Employees---$178,516
Advertising---$120,829
Other Employee Benefits---$101,653
Office Expenses---$99,227
Occupancy---$87,830
Travel---$78,561
Pension Plan Contributions---$66,259
Payroll Taxes---$62,780
Payments to Affiliates---$50,600
Conferences and Meetings---$45,174
Information Technology---$45,145
Depreciation Depletion---$41,300
Fees for Services Legal---$20,970
Fees for Services Accounting---$16,813
Insurance---$14,447
Other Expenses---$10,978
Fees for Services Other---$7,793
Total Functional Expenses$0$0$0$1,769,064
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Audit committee
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Members only, they are banks, credit unions and companies primarily in michigan

Form 990, Part VI, Section A, Line 7A

Members elect directors. Directors elect officers of the board.

Form 990, Part VI, Section A, Line 7B

Only if we elected to merge or dissolve the organization.

Form 990, Part VI, Section B, Line 11

A copy of the return is given to the board members to review before it is filed.

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

Board members and employees are asked to disclose any potential conflicts of interest, however there is not an annual, formal process for disclosure

Form 990, Part VI, Section B, Line 15A

The board of directors used data from a recent compensation survey conducted by the american society of association executives plus personal and organizational performance to determine the compensation for the president & ceo.

Form 990, Part VI, Section C, Line 19

AVAILABLE UPON REQUEST

Filing and Contact Details

Filer

Filer Name
The Payments Authority Inc
EIN
23-7390782
Phone
2489525800
Address
580 KIRTS BLVD NO 301, TROY, MI 48084

Signing Officer

Name
Amy Smith
Title
President
Phone
2489525800
Signed
2015-05-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Amy L Smith
Formed
1974
Legal Domicile
De
Voting Board Members
11
Independent Board Members
10
Employees
11
Volunteers
11

Preparer

Firm
Gordon Advisors Pc
Address
1301 WEST LONG LAKE ROAD SUITE 200, TROY, MI 48098
Preparer
Kevin Klein CPA
Phone
2489520200
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Income tax uncertainties - management evaluates, at least annually, whether any tax position reported on a tax return is more likely than not to be sustained if challenged. Management believes no such positions exist that would have significant impact on the authority's financial position and results of operations. As of december 31, 2014 and 2013, no liability for uncertain tax benefits was recorded. The authority's tax returns are subject to possible examination by the taxing authorities. For federal income tax purposes the tax returns essentially remain open for possible examination for a period up to three years after the date on which those returns are filed. Penalties and interest assessed by income taxing authorities are included in operating expenses, if incurred.

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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt383307
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt480866
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01102204
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1319250
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2102862
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt383307
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt480866
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt05809
IRS990/PYOtherExpensesAmt0627711
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt01795259
IRS990/PYRevenuesLessExpensesAmt032663
IRS990/PYSalariesCompEmpBnftPaidAmt01140694
IRS990/PYTotalExpensesAmt01768405
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01801068
IRS990/ReconcilationRevenueExpnssAmt035687
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0790457
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0942119
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt018985
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0160013
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0178998
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt012939
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt025877
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt038816
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0INCOME TAX UNCERTAINTIES - MANAGEMENT EVALUATES, AT LEAST ANNUALLY, WHETHER ANY TAX POSITION REPORTED ON A TAX RETURN IS MORE LIKELY THAN NOT TO BE SUSTAINED IF CHALLENGED. MANAGEMENT BELIEVES NO SUCH POSITIONS EXIST THAT WOULD HAVE SIGNIFICANT IMPACT ON THE AUTHORITY'S FINANCIAL POSITION AND RESULTS OF OPERATIONS. AS OF DECEMBER 31, 2014 AND 2013, NO LIABILITY FOR UNCERTAIN TAX BENEFITS WAS RECORDED. THE AUTHORITY'S TAX RETURNS ARE SUBJECT TO POSSIBLE EXAMINATION BY THE TAXING AUTHORITIES. FOR FEDERAL INCOME TAX PURPOSES THE TAX RETURNS ESSENTIALLY REMAIN OPEN FOR POSSIBLE EXAMINATION FOR A PERIOD UP TO THREE YEARS AFTER THE DATE ON WHICH THOSE RETURNS ARE FILED. PENALTIES AND INTEREST ASSESSED BY INCOME TAXING AUTHORITIES ARE INCLUDED IN OPERATING EXPENSES, IF INCURRED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt031924
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0141849
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount017743
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt025166
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt010085
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0AMY L SMITH AAP
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRES/SECR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0194843
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERS ONLY, THEY ARE BANKS, CREDIT UNIONS AND COMPANIES PRIMARILY IN MICHIGAN
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS ELECT DIRECTORS. DIRECTORS ELECT OFFICERS OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ONLY IF WE ELECTED TO MERGE OR DISSOLVE THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A COPY OF THE RETURN IS GIVEN TO THE BOARD MEMBERS TO REVIEW BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOARD MEMBERS AND EMPLOYEES ARE ASKED TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST, HOWEVER THERE IS NOT AN ANNUAL, FORMAL PROCESS FOR DISCLOSURE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS USED DATA FROM A RECENT COMPENSATION SURVEY CONDUCTED BY THE AMERICAN SOCIETY OF ASSOCIATION EXECUTIVES PLUS PERSONAL AND ORGANIZATIONAL PERFORMANCE TO DETERMINE THE COMPENSATION FOR THE PRESIDENT & CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01346967
IRS990/TotalAssetsEOYAmt01380544
IRS990/TotalAssetsGrp/BOYAmt01346967
IRS990/TotalAssetsGrp/EOYAmt01380544
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt011
IRS990/TotalFunctionalExpensesGrp/TotalAmt01769064
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt064767
IRS990/TotalLiabilitiesEOYAmt062657
IRS990/TotalLiabilitiesGrp/BOYAmt064767
IRS990/TotalLiabilitiesGrp/EOYAmt062657
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01282200
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01317887
IRS990/TotalOtherCompensationAmt070894
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt0147717
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt0147717
IRS990/TotalProgramServiceRevenueAmt01836206
IRS990/TotalReportableCompFromOrgAmt0383618
IRS990/TotalRevenueGrp/ExclusionAmt04627
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01800124
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01804751
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt011
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01346967
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01380544
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt078561
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01282200
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01317887
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0580 KIRTS BLVD SUITE 301
IRS990/USAddress/CityNm0TROY
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd048084
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0THEPAYMENTSAUTHORITY.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0AMY SMITH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02489525800
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-05-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE PAYMENTS AUTHORITY INC
ReturnHeader/Filer/BusinessNameControlTxt0PAYM
ReturnHeader/Filer/EIN0237390782
ReturnHeader/Filer/PhoneNum02489525800
ReturnHeader/Filer/USAddress/AddressLine1Txt0580 KIRTS BLVD NO 301
ReturnHeader/Filer/USAddress/CityNm0TROY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd048084
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0382656556
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GORDON ADVISORS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01301 WEST LONG LAKE ROAD SUITE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0TROY

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