Civic Intelligence

Talentfirst Inc Fka Talent First Inc

990 • Fiscal year 2015 • EIN 27-0193853

Jan 01, 2015 to Dec 31, 2015 • Filed on May 11, 2016

951 Wealthy Street SEGrand Rapids, MI 49506

(616) 451-4348

Siviq Scores

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

Liabilities / Assets

86th percentile

0.60x

Higher debt load relative to assets than 86% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

71st percentile

0.17x

Higher debt load relative to revenue than 71% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Net Margin

17th percentile

-14%

Higher net margin than 17% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2015

Asset Growth

59th percentile

4.1%

Faster asset growth than 59% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

78th percentile

24%

Faster revenue growth than 78% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Assets

Up

$151,716

Up $6,024 (+4.1%) from 2014

Net Assets

Down

$60,789

Down $76,115 (-56%) from 2014

Liabilities

Up

$90,927

Up $82,139 (+935%) from 2014

Revenue

Up

$540,006

Up $105,695 (+24%) from 2014

Expenses

Up

$616,121

Up $174,429 (+39%) from 2014

Net Income

Down

-$76,115

Down $68,734 (-931%) from 2014

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $283,654Liabilities 2011: $28,828Net Assets 2011: $254,8262011Assets 2013: $221,099Liabilities 2013: $76,814Net Assets 2013: $144,2852013Assets 2014: $145,692Liabilities 2014: $8,788Net Assets 2014: $136,9042014Assets 2015: $151,716Liabilities 2015: $90,927Net Assets 2015: $60,7892015Assets 2017: $98,694Liabilities 2017: $47,822Net Assets 2017: $50,8722017Assets 2018: $620,674Liabilities 2018: $456,915Net Assets 2018: $163,7592018Assets 2019: $201,988Liabilities 2019: $41,507Net Assets 2019: $160,4812019Assets 2020: $190,660Liabilities 2020: $142,143Net Assets 2020: $48,5172020Assets 2021: $274,791Liabilities 2021: $149,506Net Assets 2021: $125,2852021Assets 2022: $558,634Liabilities 2022: $466,812Net Assets 2022: $91,8222022Assets 2024: $3,213,420Liabilities 2024: $3,060,298Net Assets 2024: $153,1222024

Highlighted filing

2015

Assets$151,716
Liabilities$90,927
Net Assets$60,789

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $288,0742011Revenue 2013: $495,525Expenses 2013: $574,025Net Income 2013: -$78,5002013Revenue 2014: $434,311Expenses 2014: $441,692Net Income 2014: -$7,3812014Revenue 2015: $540,006Expenses 2015: $616,121Net Income 2015: -$76,1152015Revenue 2017: $695,542Expenses 2017: $677,081Net Income 2017: $18,4612017Revenue 2018: $1,132,273Expenses 2018: $1,019,386Net Income 2018: $112,8872018Revenue 2019: $1,109,368Expenses 2019: $1,112,646Net Income 2019: -$3,2782019Revenue 2020: $725,811Expenses 2020: $837,775Net Income 2020: -$111,9642020Revenue 2021: $702,664Expenses 2021: $625,896Net Income 2021: $76,7682021Revenue 2022: $1,080,715Expenses 2022: $1,139,055Net Income 2022: -$58,3402022Revenue 2024: $3,243,455Expenses 2024: $3,267,266Net Income 2024: -$23,8112024

Highlighted filing

2015

Revenue$540,006
Expenses$616,121
Net Income-$76,115
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 11, 2016
Return Version
2015v2.1
Gross Receipts
$540,006
Mission and Program Overview

Mission

A catalyst to ensure an ongoing supply of world class talent in west michigan. Convene and facilitate effective collaboration with stakeholders to illuminate performance gaps, evaluate solutions, and advocate for leading practices.

A catalyst to ensure an ongoing supply of world class talent in west michigan. Convene and facilitate effective collaboration with stakeholders to illuminate performance gaps, evaluate solutions and advocate for leading practices.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$71,751$116,250▲ $44,499
Savings and Temporary Cash Investments$31,470$15,556▼ $15,914
Cash and Non-Interest-Bearing Accounts$26,545$8,299▼ $18,246
Land, Buildings, and Equipment, Net$12,267$7,952▼ $4,315
Prepaid Expenses and Deferred Charges$3,659$3,659→ $0
Total Assets$145,692$151,716▲ $6,024
Liabilities
Other Liabilities-$53,333-
Accounts Payable and Accrued Expenses$8,788$37,594▲ $28,806
Total Liabilities$8,788$90,927▲ $82,139
Net Assets / Fund Balance
Unrestricted Net Assets$136,111$59,996▼ $76,115
Temporarily Rstr Net Assets$793$793→ $0
Total Net Assets Fund Balance$136,904$60,789▼ $76,115
Total Liabilities and Net Assets / Fund Balance$145,692$151,716▲ $6,024

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$6,841$6,400$13,241
Leasehold Improvements$1,111$3,889$5,000
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Kevin StottsPresidentFT$125,262$125,262

Board Members and Trustees

NameTitle
Franco BianchiCo-chair
Fred KellerCo-chair
Brian HarrisDirector
Bruce LosDirector
David EislerDirector
Jim TeetsDirector
Sean WelshDirector
Stephanie LeonardosDirector
Roger SpoelmanSec/treas
Ginny SeyferthSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$90,000
Program Service Revenue
$450,000
Investment Income
$6
Other Revenue
$0
All Other Contributions
$90,000
Change in Net Assets
$-76,115
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$326,274
Salaries, Compensation, and Employee Benefits$289,847
Total Fundraising Expense$73,213
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$206,467--$206,467
Current Officers, Directors, Trustees, and Key Employees$50,105$37,579$37,579$125,263
Other Salaries and Wages$79,271$10,401$10,401$100,073
Other Employee Benefits$27,440$9,147$9,147$45,734
Conferences and Meetings$11,249$10,605$4,765$26,619
Fees for Services Accounting-$25,135-$25,135
Office Expenses$4,059$12,496$7,088$23,643
Occupancy$4,607$14,621-$19,228
Payroll Taxes$14,853$2,067$1,857$18,777
Travel$2,012$6,035-$8,047
Depreciation Depletion-$4,315-$4,315
Other Expenses$355$711$355$1,421
Interest-$1,043-$1,043
Fees for Services Legal-$67-$67
Total Functional Expenses$404,825$138,083$73,213$616,121
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
James FisherDirectorContracted ServicesNo-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit$45,154
Payroll Liabilities$6,191
Credit Card Payable$1,988
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
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 11B

A copy of the 990 is submitted to the board of directors for review and approval before filing.

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

A conflict of interest statement is provided to each of the board members to complete each year.

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

The board chairman reviews compensation annually with the full board.

Form 990, Page 6, Part VI, Line 19

The governing documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Talent 2025 Inc
EIN
27-0193853
Address
951 WEALTHY STREET SE, GRAND RAPIDS, MI 49506

Signing Officer

Name
Roger Spoelman
Title
Sec/treas
Signed
2016-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Stotts
Formed
2009
Legal Domicile
Mi
Voting Board Members
10
Independent Board Members
0
Employees
6

Preparer

Firm
H&s Companies Pc
Address
PO BOX 9, FREMONT, MI 49412
Preparer
Daniel R Slate
Phone
2319246890
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

A catalyst to ensure an ongoing supply of world class talent in west michigan. Convene and facilitate effective collaboration with stakeholders to illuminate performance gaps, evaluate solutions and advocate for leading practices.

Form 990, Part IX, Line 11G

Program expenses 206,467 0 0

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS 1,592
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART III, LINE 12
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt050870
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0169924
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0100000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0200000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0610794
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0198
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0645
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0349
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt01192
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0450006
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0383441
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0325000
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0301487
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0275000
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01734934
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0198
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0645
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0349
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01192
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
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IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt0851
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IRS990ScheduleA/OtherIncome509Grp/TotalAmt01592
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0401487
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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt03889
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IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt06841
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt06400
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt013241
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt045154
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt16191
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt21988
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LINE OF CREDIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PAYROLL LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2CREDIT CARD PAYABLE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07952
IRS990ScheduleD/TotalLiabilityAmt053333
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0SEYFERTH PR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0JAMES FISHER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0DIRECTOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1FORMER PRESIDEN
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0CONTRACTED SERVICES
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1CONTRACTED SERVICES
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0CONTRACTED SERVICES BY SEYFERTH PR FOR PROVIDING SUPPORT EFFORTS RELATED TO MEETINGS AND RESEARCH AND COMMUNICATION TOOLS, AND ALSO BY JAMES FISHER FOR PROJECT MANAGEMENT SERVICES.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A CATALYST TO ENSURE AN ONGOING SUPPLY OF WORLD CLASS TALENT IN WEST MICHIGAN. CONVENE AND FACILITATE EFFECTIVE COLLABORATION WITH STAKEHOLDERS TO ILLUMINATE PERFORMANCE GAPS, EVALUATE SOLUTIONS AND ADVOCATE FOR LEADING PRACTICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE 990 IS SUBMITTED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A CONFLICT OF INTEREST STATEMENT IS PROVIDED TO EACH OF THE BOARD MEMBERS TO COMPLETE EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD CHAIRMAN REVIEWS COMPENSATION ANNUALLY WITH THE FULL BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PROGRAM EXPENSES 206,467 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0616121
IRS990/TotalGrossUBIAmt00
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IRS990/TravelGrp/ProgramServicesAmt02012
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