Civic Intelligence

Shiawassee Economic Development

990 • Fiscal year 2019 • EIN 26-3911625

Jan 01, 2019 to Dec 31, 2019 • Filed on Apr 21, 2020

Organization ProfileWWW.SEDPWEB.ORG
215 N WaterOwosso, MI 48867

(989) 725-9241

Siviq Scores

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

Liabilities / Assets

65th percentile

0.04x

Higher debt load relative to assets than 65% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

56th percentile

0.01x

Higher debt load relative to revenue than 56% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Net Margin

46th percentile

1.2%

Higher net margin than 46% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Top Officer Pay

96th percentile

$95,344

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 23.2% of source-year revenue.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Asset Growth

59th percentile

7.2%

Faster asset growth than 59% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

64th percentile

7.7%

Faster revenue growth than 64% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets65th percentile

Assets

Up

$104,587

Up $7,040 (+7.2%) from 2018

Net Assets

Up

$100,520

Up $6,893 (+7.4%) from 2018

Liabilities

Up

$4,067

Up $147 (+3.8%) from 2018

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin46th percentile

Revenue

Up

$410,604

Up $29,458 (+7.7%) from 2018

Expenses

Up

$405,704

Up $51,657 (+15%) from 2018

Net Income

Down

$4,900

Down $22,199 (-82%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth59th percentile

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

$600K$400K$200K$0Assets 2010: $48,633Liabilities 2010: $247Net Assets 2010: $48,3862010Assets 2011: $83,197Liabilities 2011: $126Net Assets 2011: $83,0712011Assets 2012: $101,724Liabilities 2012: $0Net Assets 2012: $101,7242012Assets 2013: $115,339Liabilities 2013: $0Net Assets 2013: $115,3392013Assets 2014: $168,115Liabilities 2014: $0Net Assets 2014: $168,1152014Assets 2015: $172,766Liabilities 2015: $0Net Assets 2015: $172,7662015Assets 2016: $95,181Liabilities 2016: $0Net Assets 2016: $95,1812016Assets 2017: $72,654Liabilities 2017: $3,236Net Assets 2017: $69,4182017Assets 2018: $97,547Liabilities 2018: $3,920Net Assets 2018: $93,6272018Assets 2019: $104,587Liabilities 2019: $4,067Net Assets 2019: $100,5202019Assets 2020: $348,267Liabilities 2020: $120,638Net Assets 2020: $227,6292020Assets 2021: $386,438Liabilities 2021: $8,344Net Assets 2021: $378,0942021Assets 2022: $285,543Liabilities 2022: $11,748Net Assets 2022: $273,7952022Assets 2023: $340,020Liabilities 2023: $7,302Net Assets 2023: $332,7182023Assets 2024: $559,266Liabilities 2024: $5,155Net Assets 2024: $554,1112024

Highlighted filing

2019

Assets$104,587
Liabilities$4,067
Net Assets$100,520
Open 2019 Filing

Operations Trend

Revenue Growth64th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $221,2442010Expenses 2011: $207,0222011Expenses 2012: $278,3482012Revenue 2013: $297,005Expenses 2013: $283,390Net Income 2013: $13,6152013Revenue 2014: $356,343Expenses 2014: $300,860Net Income 2014: $55,4832014Revenue 2015: $297,340Expenses 2015: $288,467Net Income 2015: $8,8732015Revenue 2016: $408,585Expenses 2016: $487,666Net Income 2016: -$79,0812016Revenue 2017: $327,261Expenses 2017: $354,494Net Income 2017: -$27,2332017Revenue 2018: $381,146Expenses 2018: $354,047Net Income 2018: $27,0992018Revenue 2019: $410,604Expenses 2019: $405,704Net Income 2019: $4,9002019Revenue 2020: $558,720Expenses 2020: $431,962Net Income 2020: $126,7582020Revenue 2021: $687,438Expenses 2021: $546,080Net Income 2021: $141,3582021Revenue 2022: $468,084Expenses 2022: $530,309Net Income 2022: -$62,2252022Revenue 2023: $750,354Expenses 2023: $718,091Net Income 2023: $32,2632023Revenue 2024: $1,019,599Expenses 2024: $819,798Net Income 2024: $199,8012024

Highlighted filing

2019

Revenue$410,604
Expenses$405,704
Net Income$4,900
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Apr 21, 2020
Return Version
2019v5.0
Gross Receipts
$410,604
Mission and Program Overview

Mission

To improve shiawassee county's economy through a program of business attraction, retention, expansion, and entrepreneurial development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$74,380$43,204▼ $31,176
Savings and Temporary Cash Investments$599$35,464▲ $34,865
Investments in Publicly Traded Securities$22,568$25,919▲ $3,351
Total Assets$97,547$104,587▲ $7,040
Liabilities
Accounts Payable and Accrued Expenses$3,920$4,067▲ $147
Total Liabilities$3,920$4,067▲ $147
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$93,627$100,520▲ $6,893
Total Net Assets Fund Balance$93,627$100,520▲ $6,893
Total Liabilities and Net Assets / Fund Balance$97,547$104,587▲ $7,040
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Justin HorvathCEOFT$84,872$10,472$95,344

Board Members and Trustees

NameTitle
Joe Sawyer City of CorunnaChair
Brad Kirkland Oxford BankTrustee
Bruce Cook Cook Family FoundationTrustee
COLLEEN O'TOOLE CITY OF DURANDTrustee
Chad Cushman Indian TrailsTrustee
Charlene Hebekeuser Tri-mer CorpTrustee
Chris Taphouse Covenant EyesTrustee
Craig Bishop Chemical BankTrustee
David Schulte Shiawassee ResdTrustee
Doug Kelly Wheeler TruckingTrustee
Gary Holzhauseb Shiawassee CountyTrustee
Greg Klapko Baker College of OwossoTrustee
James M Smith Machine Tool GearTrustee
Kathryn Burkholder Consumers EnergyTrustee
Mark Fraser Perry TownshipTrustee
Mark Hudson Daystarr CommunicationsTrustee
Mike Modlin Fifth Third BankTrustee
Nathan Henne City of OwossoTrustee
Pat May Crest MarineTrustee
Paul Cook Wolverine Sign WorksTrustee
Rick Freeman Rowe Professional SevTrustee
Tom Bridges Tom Bridges AttorneyTrustee
Tom Kurtz Memorial HealthcareTrustee
Bryan Marks Great Lakes FushionSecretary
Jeff Deason Chamber of CommerceTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$5,099
Program Service Revenue
$345,951
Investment Income
$1,358
Other Revenue
$58,196
Change in Net Assets
$4,900

Audited Revenue Reconciliation

Revenue per Audited Statements
$410,305
Revenue Not Reported on Financial Statements
$299
Revenue Not Reported on Form 990
$2,292
Total Revenue per Audited Statements
$412,597
Total Revenue per Form 990
$410,604
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$235,865
Salaries, Compensation, and Employee Benefits$169,839
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising---$102,287
Current Officers, Directors, Trustees, and Key Employees---$84,872
Other Salaries and Wages---$54,158
Fees for Services Other---$45,615
Other Expenses---$42,225
Occupancy---$31,648
Other Employee Benefits---$15,853
Payroll Taxes---$10,979
Office Expenses---$6,014
Pension Plan Contributions---$3,977
Travel---$3,510
Fees for Services Accounting---$2,515
Insurance---$2,051
Total Functional Expenses$0$0$0$405,704

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$405,704
Total Expenses per Audited Statements$405,704
Total Expenses per Form 990$405,704
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
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
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 2

“Bruce cook paul cook director director family”

Form 990, Page 6, Part VI, Line 7A

“Each member investor making a 10,000 annual contribution is entitled to a seat on the board of directors.”

Form 990, Page 6, Part VI, Line 11B

“Board representative review of completed filing.”

Form 990, Page 6, Part VI, Line 12C

“Reviewed via disclosures by board of directors and staff.”

Form 990, Page 6, Part VI, Line 15A

“Performance assessments provide a basis for compensation in conjunction with market analysis of similar functions. Compensation contracts are approved by the board.”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Shiawassee Economic Development
EIN
26-3911625
Phone
9897259241
Address
215 N WATER, OWOSSO, MI 48867

Signing Officer

Name
Justin Horvath
Title
CEO
Phone
9897259241
Signed
2020-04-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Justin Horvath
Formed
2009
Legal Domicile
Mi
Voting Board Members
25
Independent Board Members
25
Employees
3

Preparer

Firm
Vmd & Associates Pllc
Address
PO BOX 37, OWOSSO, MI 48867-0037
Preparer
Randy F Meder
Phone
9897238171
Supplemental Narrative

Additional Explanations

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

“Assist shiawassee county residents in starting and growing their own businesses by providing business support services.”

Form 990, Part IX, Line 11G

“Dues and sponsorships 15,615 0 0 consulting 30,000 0 0 total 45,615 0 0”

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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/Form990PartVIISectionAGrp/TitleTxt8CHAIR
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IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt19TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt20TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt21TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt22TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt23TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt24TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt25TRUSTEE
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr02009
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IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt025
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt0410604
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt025
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IRS990/InfoInScheduleOPartIXInd0X
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IRS990/InsuranceGrp/TotalAmt02051
IRS990/InvestmentExpenseAmt0-299
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IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt01358
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IRS990/InvestmentsPubTradedSecGrp/BOYAmt022568
IRS990/InvestmentsPubTradedSecGrp/EOYAmt025919
IRS990/IRPDocumentCnt05
IRS990/IRPDocumentW2GCnt00
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IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO IMPROVE SHIAWASSEE COUNTY'S ECONOMY THROUGH A PROGRAM OF BUSINESS ATTRACTION, RETENTION, EXPANSION, AND ENTREPRENEURIAL DEVELOPMENT.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
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IRS990/OfficeExpensesGrp/TotalAmt06014
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherEmployeeBenefitsGrp/TotalAmt015853
IRS990/OtherExpensesGrp/Desc0CONTRACTED SERVICES
IRS990/OtherExpensesGrp/TotalAmt042225
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER REVENUE
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt058196
IRS990/OtherRevenueTotalAmt058196
IRS990/OtherSalariesAndWagesGrp/TotalAmt054158
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IRS990/PayrollTaxesGrp/TotalAmt010979
IRS990/PensionPlanContributionsGrp/TotalAmt03977
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0JUSTIN HORVATH
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0MEMBER INVESTMENTS
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0345951
IRS990/ProgSrvcAccomActy2Grp/Desc0BUSINESS ATTRACTION: DESIGN AND IMPLEMENT A MARKETING PROGRAM TO SHOWCASE SHIAWASSEE COUNTY AS A BUSINESS DESTINTION AND FOR INTERESTED PARTIES PROVIDE ASSISTANCE SIMILAR TO EXISTING BUSINESS CLIENTS.
IRS990/ProgSrvcAccomActy3Grp/Desc0INVESTOR PUBLIC RELATIONS: INCREASE THE KNOWLEDGE AND AWARENESS OF SEDP ACTIVITIES AND OFFERINGS WITH MEMBERS, COMMUNITY GROUPS, PUBLIC, AND ECONOMIC DEVELOPMENT PEERS.
IRS990/ProgSrvcAccomActyOtherGrp/Desc0ASSIST SHIAWASSEE COUNTY RESIDENTS IN STARTING AND GROWING THEIR OWN BUSINESSES BY PROVIDING BUSINESS SUPPORT SERVICES.
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IRS990/PYInvestmentIncomeAmt01239
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IRS990/PYTotalExpensesAmt0354047
IRS990/PYTotalRevenueAmt0381146
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IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
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IRS990ScheduleD/NetUnrealizedGainsInvstAmt02292
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IRS990ScheduleD/TotalRevenuePerForm990Amt0410604
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ASSIST SHIAWASSEE COUNTY RESIDENTS IN STARTING AND GROWING THEIR OWN BUSINESSES BY PROVIDING BUSINESS SUPPORT SERVICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BRUCE COOK PAUL COOK DIRECTOR DIRECTOR FAMILY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH MEMBER INVESTOR MAKING A 10,000 ANNUAL CONTRIBUTION IS ENTITLED TO A SEAT ON THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD REPRESENTATIVE REVIEW OF COMPLETED FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4REVIEWED VIA DISCLOSURES BY BOARD OF DIRECTORS AND STAFF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PERFORMANCE ASSESSMENTS PROVIDE A BASIS FOR COMPENSATION IN CONJUNCTION WITH MARKET ANALYSIS OF SIMILAR FUNCTIONS. COMPENSATION CONTRACTS ARE APPROVED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7DUES AND SPONSORSHIPS 15,615 0 0 CONSULTING 30,000 0 0 TOTAL 45,615 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd0false
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt097547
IRS990/TotalAssetsEOYAmt0104587
IRS990/TotalAssetsGrp/BOYAmt097547
IRS990/TotalAssetsGrp/EOYAmt0104587
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt05099
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0405704
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03920
IRS990/TotalLiabilitiesEOYAmt04067
IRS990/TotalLiabilitiesGrp/BOYAmt03920
IRS990/TotalLiabilitiesGrp/EOYAmt04067
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt093627

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$104,587
Liabilities
$4,067
Net assets
$100,520
Revenue
$410,604
Expenses
$405,704
Net income
$4,900
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.56$0.01$0.55$1.02$0.82$0.20
2023Detailed filing. Detailed filing data is available for this year.$0.34$0.01$0.33$0.75$0.72$0.03
2022Detailed filing. Detailed filing data is available for this year.$0.29$0.01$0.27$0.47$0.53$0.06
2021Detailed filing. Detailed filing data is available for this year.$0.39$0.01$0.38$0.69$0.55$0.14
2020Detailed filing. Detailed filing data is available for this year.$0.35$0.12$0.23$0.56$0.43$0.13
2019Detailed filing. Detailed filing data is available for this year.$0.10$0.00$0.10$0.41$0.41$0.00
2018Detailed filing. Detailed filing data is available for this year.$0.10$0.00$0.09$0.38$0.35$0.03
2017Detailed filing. Detailed filing data is available for this year.$0.07$0.00$0.07$0.33$0.35$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.10$0.00$0.10$0.41$0.49$0.08
2015Detailed filing. Detailed filing data is available for this year.$0.17$0.00$0.17$0.30$0.29$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.17$0.00$0.17$0.36$0.30$0.06
2013Detailed filing. Detailed filing data is available for this year.$0.12$0.00$0.12$0.30$0.28$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.10$0.00$0.10$0.28
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.08$0.00$0.08$0.21
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.05$0.00$0.05$0.22