Civic Intelligence

Michigan Saves Inc.

990 • Fiscal year 2019 • EIN 27-1388004

Jan 01, 2019 to Dec 31, 2019 • Filed on Sep 10, 2020

Organization ProfileWWW.MICHIGANSAVES.ORG
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

38th percentile

0.11x

Higher debt load relative to assets than 38% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

63rd percentile

0.39x

Higher debt load relative to revenue than 63% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

75th percentile

16%

Higher net margin than 75% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

13th percentile

$0

Higher top officer pay than 13% of similar nonprofits.

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

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Asset Growth

50th percentile

3.5%

Faster asset growth than 50% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

98th percentile

342%

Faster revenue growth than 98% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets38th percentile

Assets

Up

$12,598,144

Up $430,652 (+3.5%) from 2018

Net Assets

Up

$11,262,083

Up $528,874 (+4.9%) from 2018

Liabilities

Down

$1,336,061

Down $98,222 (-6.8%) from 2018

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin75th percentile

Revenue

Up

$3,404,929

Up $2,635,263 (+342%) from 2018

Expenses

Up

$2,876,055

Up $1,007,385 (+54%) from 2018

Net Income

Up

$528,874

Up $1,627,878 (+148%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth50th percentile

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

2019

Assets$12,598,144
Liabilities$1,336,061
Net Assets$11,262,083
Open 2019 Filing

Operations Trend

Revenue Growth98th percentile

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

2019

Revenue$3,404,929
Expenses$2,876,055
Net Income$528,874
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Sep 10, 2020
Return Version
2019v5.0
Gross Receipts
$3,404,929
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$10,094,841$11,610,172▲ $1,515,331
Cash and Non-Interest-Bearing Accounts$1,942,008$736,782▼ $1,205,226
Pledges and Grants Receivable$130,643$229,538▲ $98,895
Other Notes and Loans Receivable, Net-$21,652-
Total Assets$12,167,492$12,598,144▲ $430,652
Liabilities
Accounts Payable and Accrued Expenses$1,434,283$1,336,061▼ $98,222
Total Liabilities$1,434,283$1,336,061▼ $98,222
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$10,733,209$11,262,083▲ $528,874
Total Net Assets Fund Balance$10,733,209$11,262,083▲ $528,874
Total Liabilities and Net Assets / Fund Balance$12,167,492$12,598,144▲ $430,652

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$11,610,172--
Compensation and Service Providers
Top Officer Pay13th percentile

Board Members and Trustees

NameTitle
Paul SchuttPresident
Amanda GodwardDirector
Conan SmithDirector
David AllenDirector
Doug LucianiDirector
Gregory BergtoldDirector
Irene DimitryDirector
Jason MatleyDirector
Roselyn TantrapholDirector
Saunteel JenkinsDirector
Shelley SullivanDirector
Stephanie MinottDirector
Ted BillupsDirector
Teri Van SumerenDirector
Thom PhillipsDirector
Patricia PoliEx Officio
David WibleTreasurer
Julie Hales-smithVice Preside

Highest Paid Contractors

ContractorServicesLocationCompensation
Public Sector ConsultantsAdministrative230 N WASHINGTON SQUARE SUITE 300, Lansing, MI 48933$1,439,324
Revenue and Support

Revenue Composition

Contributions and Grants
$240,000
Program Service Revenue
$0
Investment Income
$1,944,243
Other Revenue
$1,220,686
Change in Net Assets
$528,874

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,404,929
Total Revenue per Audited Statements
$3,404,929
Total Revenue per Form 990
$3,404,929
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,876,055
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
Travel$49,696--$49,696
Other Expenses$26,230--$26,230
Total Functional Expenses$2,876,055$0$0$2,876,055

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,876,055
Total Expenses per Audited Statements$2,876,055
Total Expenses per Form 990$2,876,055
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
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 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
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
2020-09-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paul Schutt
Formed
2009
Legal Domicile
Mi
Voting Board Members
17
Independent Board Members
17
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/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0true
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IRS990ScheduleA/TotalSupportAmt0681466
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0AGENCY BOND SECURITIES
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0F
IRS990ScheduleD/RevenueSubtotalAmt03404929
IRS990ScheduleD/TotalBookValueProgramRltdAmt011610172
IRS990ScheduleD/TotalExpensesPerForm990Amt02876055
IRS990ScheduleD/TotalRevenuePerForm990Amt03404929
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03404929
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02876055
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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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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd0MI
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0NONE
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0FUND FOR ENERGY EFFICIENCY LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt0230 N WASHINGTON SQ STE 300
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0MI
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd048933
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalGrossUBIAmt00
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IRS990/TravelGrp/ProgramServicesAmt049696
IRS990/TravelGrp/TotalAmt049696
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0230 N WASHINGTON SQ STE 300
IRS990/USAddress/CityNm0LANSING
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd048933
IRS990/VotingMembersGoverningBodyCnt017
IRS990/VotingMembersIndependentCnt017
IRS990/WebsiteAddressTxt0WWW.MICHIGANSAVES.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PAUL SCHUTT

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$12,598,144
Liabilities
$1,336,061
Net assets
$11,262,083
Revenue
$3,404,929
Expenses
$2,876,055
Net income
$528,874
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$36.1$6.77$29.3$20.6$14.8$5.79
2023Detailed filing. Detailed filing data is available for this year.$30.5$4.93$25.5$17.8$7.38$10.4
2022Detailed filing. Detailed filing data is available for this year.$18.5$3.35$15.1$5.65$4.01$1.64
2021Detailed filing. Detailed filing data is available for this year.$18.1$1.91$16.2$5.83$3.79$2.05
2020Detailed filing. Detailed filing data is available for this year.$14.7$1.59$13.1$4.81$2.93$1.88
2019Detailed filing. Detailed filing data is available for this year.$12.6$1.34$11.3$3.40$2.88$0.53
2018Detailed filing. Detailed filing data is available for this year.$12.2$1.43$10.7$0.77$1.87$1.10
2017Detailed filing. Detailed filing data is available for this year.$12.8$0.96$11.8$2.49$1.58$0.91
2016Detailed filing. Detailed filing data is available for this year.$11.5$0.61$10.9$1.26$1.40$0.14
2015Detailed filing. Detailed filing data is available for this year.$11.9$0.79$11.1$0.11$1.42$1.31
2014Detailed filing. Detailed filing data is available for this year.$12.8$0.40$12.4$1.37$1.96$0.59
2013Detailed filing. Detailed filing data is available for this year.$13.4$0.39$13.0$6.04$7.91$1.87
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.6$1.76$14.8$9.39