Civic Intelligence

Michigan Saves Inc.

990 • Fiscal year 2016 • EIN 27-1388004

Jan 01, 2016 to Dec 31, 2016 • Filed on Jul 13, 2017

230 N Washington Square Suite 300Lansing, MI 48933

(517) 484-4954

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.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

66th percentile

0.48x

Higher debt load relative to revenue than 66% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

16th percentile

-11%

Higher net margin than 16% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

26th percentile

-2.8%

Faster asset growth than 26% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

99th percentile

1034%

Faster revenue growth than 99% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Assets

Down

$11,535,628

Down $328,080 (-2.8%) from 2015

Net Assets

Down

$10,927,139

Down $142,604 (-1.3%) from 2015

Liabilities

Down

$608,489

Down $185,476 (-23%) from 2015

Revenue

Up

$1,261,172

Up $1,149,971 (+1034%) from 2015

Expenses

Down

$1,403,776

Down $15,998 (-1.1%) from 2015

Net Income

Up

-$142,604

Up $1,165,969 (+89%) from 2015

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2012: $16,601,819Liabilities 2012: $1,760,304Net Assets 2012: $14,841,5152012Assets 2013: $13,364,493Liabilities 2013: $393,894Net Assets 2013: $12,970,5992013Assets 2014: $12,780,459Liabilities 2014: $402,143Net Assets 2014: $12,378,3162014Assets 2015: $11,863,708Liabilities 2015: $793,965Net Assets 2015: $11,069,7432015Assets 2016: $11,535,628Liabilities 2016: $608,489Net Assets 2016: $10,927,1392016Assets 2017: $12,790,783Liabilities 2017: $958,570Net Assets 2017: $11,832,2132017Assets 2018: $12,167,492Liabilities 2018: $1,434,283Net Assets 2018: $10,733,2092018Assets 2019: $12,598,144Liabilities 2019: $1,336,061Net Assets 2019: $11,262,0832019Assets 2020: $14,737,386Liabilities 2020: $1,592,295Net Assets 2020: $13,145,0912020Assets 2021: $18,070,925Liabilities 2021: $1,909,889Net Assets 2021: $16,161,0362021Assets 2022: $18,460,904Liabilities 2022: $3,350,711Net Assets 2022: $15,110,1932022Assets 2023: $30,475,981Liabilities 2023: $4,933,786Net Assets 2023: $25,542,1952023Assets 2024: $36,078,006Liabilities 2024: $6,765,048Net Assets 2024: $29,312,9582024

Highlighted filing

2016

Assets$11,535,628
Liabilities$608,489
Net Assets$10,927,139

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2012: $9,387,8442012Revenue 2013: $6,035,817Expenses 2013: $7,906,733Net Income 2013: -$1,870,9162013Revenue 2014: $1,369,613Expenses 2014: $1,961,896Net Income 2014: -$592,2832014Revenue 2015: $111,201Expenses 2015: $1,419,774Net Income 2015: -$1,308,5732015Revenue 2016: $1,261,172Expenses 2016: $1,403,776Net Income 2016: -$142,6042016Revenue 2017: $2,485,783Expenses 2017: $1,580,709Net Income 2017: $905,0742017Revenue 2018: $769,666Expenses 2018: $1,868,670Net Income 2018: -$1,099,0042018Revenue 2019: $3,404,929Expenses 2019: $2,876,055Net Income 2019: $528,8742019Revenue 2020: $4,812,280Expenses 2020: $2,929,272Net Income 2020: $1,883,0082020Revenue 2021: $5,834,358Expenses 2021: $3,788,162Net Income 2021: $2,046,1962021Revenue 2022: $5,654,697Expenses 2022: $4,014,555Net Income 2022: $1,640,1422022Revenue 2023: $17,758,875Expenses 2023: $7,376,036Net Income 2023: $10,382,8392023Revenue 2024: $20,641,601Expenses 2024: $14,846,679Net Income 2024: $5,794,9222024

Highlighted filing

2016

Revenue$1,261,172
Expenses$1,403,776
Net Income-$142,604
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jul 13, 2017
Return Version
2016v3.0
Gross Receipts
$1,261,172
Mission and Program Overview

Mission

The corporation is organized exclusively for charitable, scientific, literary, and educational purposes within the meaning of section 501(c)3 of the internal revenue code of 1986, as amended (the "code"), or comparable subsequent legislation. In furtherance of these purposes, the purpose of the corporation is to create statewide, innovative energy efficiency and distributed renewable energy financing system for the benefit of utility customers in the state of michigan, and to engage in activities related therto.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$10,785,656$9,749,344▼ $1,036,312
Cash and Non-Interest-Bearing Accounts$914,481$1,681,744▲ $767,263
Pledges and Grants Receivable$163,571$104,540▼ $59,031
Total Assets$11,863,708$11,535,628▼ $328,080
Liabilities
Accounts Payable and Accrued Expenses$793,965$608,489▼ $185,476
Total Liabilities$793,965$608,489▼ $185,476
Net Assets / Fund Balance
Unrestricted Net Assets$11,069,743$10,927,139▼ $142,604
Total Net Assets Fund Balance$11,069,743$10,927,139▼ $142,604
Total Liabilities and Net Assets / Fund Balance$11,863,708$11,535,628▼ $328,080

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$9,749,344--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Paul SchuttPresident
Amanda GodwardDirector
Conan SmithDirector
David AllenDirector
Gregory BergtoldDirector
Irene DimitryDirector
James MoyerDirector
Jason MatleyDirector
Roselyn TantrapholDirector
Stephanie MinottDirector
Sue WarrenDirector
Teri VansumerenDirector
Thom PhillipsDirector
Waymon GuillebeauxDirector
Wanda JonesEx Officio
David WibleTreasurer
Julie Hales-smithVice Pres/se

Highest Paid Contractors

ContractorServicesLocationCompensation
Public Sector ConsultantsAdministrative230 N WASHINGTON SQUARE SUITE 300, Lansing, MI 48933$759,779
Revenue and Support

Revenue Composition

Contributions and Grants
$55,000
Program Service Revenue
$0
Investment Income
$536,885
Other Revenue
$669,287
Change in Net Assets
$-142,604

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,261,172
Total Revenue per Audited Statements
$1,261,172
Total Revenue per Form 990
$1,261,172
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,403,776
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
Other Expenses$35,673--$35,673
Travel$16,751--$16,751
Total Functional Expenses$1,403,776$0$0$1,403,776

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,403,776
Total Expenses per Audited Statements$1,403,776
Total Expenses per Form 990$1,403,776
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
Public Sector Consultants IncSee Part VSee Part VNo-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
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

The 990 is prepared by a third party and then reviewed by the manager.

Form 990, Page 6, Part VI, Line 19

The organizations governing documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Michigan Saves Inc
EIN
27-1388004
Address
230 N WASHINGTON SQUARE SUITE 300, LANSING, MI 48933

Signing Officer

Name
Paul Schutt
Title
President
Signed
2017-07-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paul Schutt
Formed
2009
Legal Domicile
Mi
Voting Board Members
16
Independent Board Members
16
Employees
0

Preparer

Firm
Hall & Romkema Plc
Address
3495 COOLIDGE ROAD, EAST LANSING, MI 48823
Preparer
Joe a Romkema
Phone
5173378900
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The corporation is organized exclusively for charitable, scientific, literary, and educational purposes within the meaning of section 501(c)3 of the internal revenue code of 1986, as amended (the "code"), or comparable subsequent legislation. In furtherance of these purposes, the purpose of the corporation is to create statewide, innovative energy efficiency and distributed renewable energy financing system for the benefit of utility customers in the state of michigan, and to engage in activities related therto.

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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetAssetsOrFundBalancesEOYAmt010927139
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherExpensesGrp/Desc0CONTRACTUAL EXPENSES
IRS990/OtherExpensesGrp/Desc1OTHER EXPENSES
IRS990/OtherExpensesGrp/Desc2SUPPLIES
IRS990/OtherExpensesGrp/ProgramServicesAmt0879664
IRS990/OtherExpensesGrp/ProgramServicesAmt1471688
IRS990/OtherExpensesGrp/ProgramServicesAmt235673
IRS990/OtherExpensesGrp/TotalAmt0879664
IRS990/OtherExpensesGrp/TotalAmt1471688
IRS990/OtherExpensesGrp/TotalAmt235673
IRS990/OtherRevenueMiscGrp/Desc0CONTRACTOR APPLICATION FEES
IRS990/OtherRevenueMiscGrp/Desc1MISCELLANEOUS
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IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1207368
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1207368
IRS990/OtherRevenueTotalAmt0669287
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0PAUL SCHUTT
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0136466
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0-454788
IRS990/PYOtherExpensesAmt01419774
IRS990/PYOtherRevenueAmt0429523
IRS990/PYRevenuesLessExpensesAmt0-1308573
IRS990/PYTotalExpensesAmt01419774
IRS990/PYTotalRevenueAmt0111201
IRS990/ReconcilationRevenueExpnssAmt0-142604
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0true
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt055000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0136466
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0628562
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt05144882
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt011240956
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt017205866
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01206172
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IRS990ScheduleA/PublicSupportPY170Pct01.00000
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt055000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0136466
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0628562
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt05144882
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt011240956
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt017205866
IRS990ScheduleA/TotalSupportAmt017205866
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IRS990ScheduleD/ExpensesSubtotalAmt01403776
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt09749344
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0AGENCY BOND SECURITIES
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0F
IRS990ScheduleD/RevenueSubtotalAmt01261172
IRS990ScheduleD/TotalBookValueProgramRltdAmt09749344
IRS990ScheduleD/TotalExpensesPerForm990Amt01403776
IRS990ScheduleD/TotalRevenuePerForm990Amt01261172
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01261172
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01403776
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0PUBLIC SECTOR CONSULTANTS INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0SEE PART V
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0SEE PART V
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0PART IV (B): ENTITY IS 39.11% OWNED BY JEFF WILLIAMS, FORMER PRESIDENT OF THE ORGANIZATION AND 19.56% BY JULIE BENNETT, FORMER EXECUTIVE DIRECTOR. PART IV (D): CONTRACT FOR ADMINISTRATIVE SERVICES.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC, LITERARY, AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)3 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), OR COMPARABLE SUBSEQUENT LEGISLATION. IN FURTHERANCE OF THESE PURPOSES, THE PURPOSE OF THE CORPORATION IS TO CREATE STATEWIDE, INNOVATIVE ENERGY EFFICIENCY AND DISTRIBUTED RENEWABLE ENERGY FINANCING SYSTEM FOR THE BENEFIT OF UTILITY CUSTOMERS IN THE STATE OF MICHIGAN, AND TO ENGAGE IN ACTIVITIES RELATED THERTO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS PREPARED BY A THIRD PARTY AND THEN REVIEWED BY THE MANAGER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATIONS GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST.
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 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt011535628
IRS990/TotalAssetsGrp/BOYAmt011863708
IRS990/TotalAssetsGrp/EOYAmt011535628
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt055000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01403776
IRS990/TotalFunctionalExpensesGrp/TotalAmt01403776
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0793965
IRS990/TotalLiabilitiesEOYAmt0608489
IRS990/TotalLiabilitiesGrp/BOYAmt0793965
IRS990/TotalLiabilitiesGrp/EOYAmt0608489
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt011069743
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt010927139
IRS990/TotalProgramServiceExpensesAmt01403776
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01206172
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01261172
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011863708
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011535628
IRS990/TravelGrp/ProgramServicesAmt016751
IRS990/TravelGrp/TotalAmt016751
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt011069743
IRS990/UnrestrictedNetAssetsGrp/EOYAmt010927139
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0230 N WASHINGTON SQ STE 300
IRS990/USAddress/CityNm0LANSING
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd048933
IRS990/VotingMembersGoverningBodyCnt016
IRS990/VotingMembersIndependentCnt016
IRS990/WebsiteAddressTxt0WWW.MICHIGANSAVES.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PAUL SCHUTT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-07-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MICHIGAN SAVES INC
ReturnHeader/Filer/BusinessNameControlTxt0MICH
ReturnHeader/Filer/EIN0271388004
ReturnHeader/Filer/USAddress/AddressLine1Txt0230 N WASHINGTON SQUARE SUITE 300
ReturnHeader/Filer/USAddress/CityNm0LANSING
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd048933
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId068E171671501D482D7FE1E2577BDA71E2D11A048
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId08FDF23B381A7843AB6C4EB24B428118A32C0330C
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0204043739
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HALL & ROMKEMA PLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03495 COOLIDGE ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0EAST LANSING
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd048823
ReturnHeader/PreparerPersonGrp/PhoneNum05173378900
ReturnHeader/PreparerPersonGrp/PreparationDt02017-07-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOE A ROMKEMA
ReturnHeader/ReturnTs02017-08-16T09:32:53-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

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