Civic Intelligence

The Payments Authority Inc

990 • Fiscal year 2016 • EIN 23-7390782

Jan 01, 2016 to Dec 31, 2016 • Filed on Apr 12, 2017

Organization Profilethepaymentsauthority.org

View Organization Page

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

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2016

Liabilities / Revenue

46th percentile

0.00x

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

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Net Margin

1st percentile

-333364%

Higher net margin than 1% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Top Officer Pay

69th percentile

$0

Higher top officer pay than 69% of similar nonprofits.

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

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

1st percentile

-100%

Faster revenue growth than 1% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $1,541,004 (-100%) from 2015

Net Assets

Down

$0

Down $1,538,871 (-100%) from 2015

Liabilities

Down

$0

Down $2,133 (-100%) from 2015

Revenue And Expenses
Liabilities / Revenue46th percentileNet Margin1st percentile

Revenue

Down

$22

Down $1,859,614 (-100%) from 2015

Expenses

Down

$73,362

Down $1,565,290 (-96%) from 2015

Net Income

Down

-$73,340

Down $294,324 (-133%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

2016

Assets$0
Liabilities$0
Net Assets$0
Open 2016 Filing

Operations Trend

Revenue Growth1st percentile

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

2016

Revenue$22
Expenses$73,362
Net Income-$73,340
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Apr 12, 2017
Return Version
2016v3.0
Gross Receipts
$22
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
Cash and Non-Interest-Bearing Accounts$1,324,188$0▼ $1,324,188
Accounts Receivable$195,791$0▼ $195,791
Land, Buildings, and Equipment, Net$12,057$0▼ $12,057
Prepaid Expenses and Deferred Charges$4,820$0▼ $4,820
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,541,004$0▼ $1,541,004
Other Assets Total$4,148$0▼ $4,148
Liabilities
Accounts Payable and Accrued Expenses$1,704--
Deferred Revenue$429--
Total Liabilities$2,133$0▼ $2,133
Net Assets / Fund Balance
Unrestricted Net Assets$1,538,871$0▼ $1,538,871
Total Net Assets Fund Balance$1,538,871$0▼ $1,538,871
Total Liabilities and Net Assets / Fund Balance$1,541,004$0▼ $1,541,004
Compensation and Service Providers
Top Officer Pay69th percentile

Board Members and Trustees

NameTitle
Jeffery JacksoncHAIRPERSON
Elizabeth SiewertVice Chair
Martha PetersBoard Member
Patty CampbellboARD MEMBER
Ron KerverBoard Member
Scott HolzwarthBoard Member
Shannon TramontinBoard Member
Tiffany FordBoard Member
Tracy CosenzaBoard Member
Amy L Smith AapPres/secr
Ken JohnsontREASURER
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$22
Other Revenue
$0
Change in Net Assets
$-73,340
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$73,362
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
Depreciation Depletion---$12,281
Information Technology---$7,356
Fees for Services Accounting---$5,906
Occupancy---$4,994
Other Expenses---$4,819
Fees for Services Other---$3,206
Travel---$450
Total Functional Expenses$0$0$0$73,362
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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 11B

“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
2017-04-12
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
0
Volunteers
0

Preparer

Firm
Gordon Advisors Pc
Address
1301 W Long Lake Road Ste 200, Troy, MI 48098
Preparer
Kevin E Klein CPA
Phone
2489520200
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

“Transfer of assets - see form 990 schedule n -1,465,531.”

Raw XML Appendix357 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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IRS990/ActivityOrMissionDesc0TO 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.
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IRS990/Form990PartVIISectionAGrp/TitleTxt3boARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
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IRS990ScheduleN/DirectorOfSuccessor2Ind00
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0ALL ASSETS INCLUDING EDUCATION MATERIALS OF SELLER, CONSULTING SERVICE AND OTHER
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt0THE CLEARING HOUSE PAYMENTS COMPANY LLC
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02016-12-20
IRS990ScheduleN/DispositionOfAssetsDetail/EIN0841650027
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt01465531
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0C CORP
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0CASH TRANSFER OF $1,249,075 OCCURRED ON JANUARY 1, 2016. FAIR VALUE OF $196,729 CONSISTING OF ACCOUNTS RECEIVABLE, PREPAIDS, OTHER ASSETS AND FIXED ASSETS NET OF ACCOUNTS PAYABLE WERE TRANSFERRED DURING 2016. FINAL DISBURSEMENT OF CASH OF $19,727 OCCURRED ON DECEMBER 20, 2016.
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt01114 AVENUE OF THE AMERICAS 1
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0NEW YORK
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd0NY
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd010036
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IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0Person(s) Involved: AMY L. SMITH TOGETHER WITH ALL EMPLOYEES OF THE PAYMENTS AUTHORITY BECAME EMPLOYEES OF THE RECIPIENT ORGANIZATION EFFECTIVE JANUARY 1, 2016
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0Part II, Line 2e:
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/ExplanationTxt7TRANSFER OF ASSETS - SEE FORM 990 SCHEDULE N -1,465,531.
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 11b
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part XI, line 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01541004
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt01541004
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt073362
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02133
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt02133
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01538871
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt022
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt022
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01541004
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt0450
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01538871
IRS990/UnrestrictedNetAssetsGrp/EOYAmt00
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/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0AMY SMITH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02489525800
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-04-12
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/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0B5661B19799D706419765669CF1BFF7266BB1DE1
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt012.199.18.242
ReturnHeader/FilingSecurityInformation/IPDt02017-04-12
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm010:49:19
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0382656556
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GORDON ADVISORS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01301 W Long Lake Road Ste 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Troy
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd048098
ReturnHeader/PreparerPersonGrp/PhoneNum02489520200
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Kevin E Klein CPA
ReturnHeader/ReturnTs02017-04-14T13:10:46-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$22
Expenses
$73,362
Net income
-$73,340
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.07$0.07
2015Detailed filing. Detailed filing data is available for this year.$1.54$0.00$1.54$1.86$1.64$0.22
2014Detailed filing. Detailed filing data is available for this year.$1.38$0.06$1.32$1.80$1.77$0.04
2013Detailed filing. Detailed filing data is available for this year.$1.35$0.06$1.28$1.80$1.77$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.34$0.09$1.25$1.78
2011XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.57$0.23$1.35$1.63
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.61$0.22$1.39$1.64