Civic Intelligence

Michigan Tech Enterprise Corporation

990 • Fiscal year 2017 • EIN 30-0109013

Jul 01, 2016 to Jun 30, 2017 • Filed on May 14, 2018

Organization ProfileWWW.MTECSZ.COM
600 E Lakeshore DriveHoughton, MI 49931

(906) 487-7000

Siviq Scores

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

Liabilities / Assets

67th percentile

0.25x

Higher debt load relative to assets than 67% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

74th percentile

0.39x

Higher debt load relative to revenue than 74% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

30th percentile

-3.5%

Higher net margin than 30% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

83rd percentile

$148,939

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 10.7% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

52nd percentile

3.9%

Faster asset growth than 52% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

51st percentile

4.9%

Faster revenue growth than 51% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets67th percentile

Assets

Up

$2,148,459

Up $80,855 (+3.9%) from 2016

Net Assets

Up

$1,602,966

Up $48,777 (+3.1%) from 2016

Liabilities

Up

$545,493

Up $32,078 (+6.2%) from 2016

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin30th percentile

Revenue

Up

$1,385,977

Up $64,533 (+4.9%) from 2016

Expenses

Up

$1,434,670

Up $270,845 (+23%) from 2016

Net Income

Down

-$48,693

Down $206,312 (-131%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth52nd percentile

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

$6.0M$4.0M$2.0M$0Assets 2012: $1,755,623Liabilities 2012: $577,403Net Assets 2012: $1,178,2202012Assets 2013: $2,052,050Liabilities 2013: $666,717Net Assets 2013: $1,385,3332013Assets 2014: $2,029,602Liabilities 2014: $640,354Net Assets 2014: $1,389,2482014Assets 2015: $1,911,420Liabilities 2015: $497,703Net Assets 2015: $1,413,7172015Assets 2016: $2,067,604Liabilities 2016: $513,415Net Assets 2016: $1,554,1892016Assets 2017: $2,148,459Liabilities 2017: $545,493Net Assets 2017: $1,602,9662017Assets 2018: $2,173,587Liabilities 2018: $494,259Net Assets 2018: $1,679,3282018Assets 2019: $2,208,777Liabilities 2019: $439,574Net Assets 2019: $1,769,2032019Assets 2020: $2,306,565Liabilities 2020: $502,637Net Assets 2020: $1,803,9282020Assets 2021: $3,191,054Liabilities 2021: $421,636Net Assets 2021: $2,769,4182021Assets 2022: $2,993,171Liabilities 2022: $417,987Net Assets 2022: $2,575,1842022Assets 2023: $3,491,836Liabilities 2023: $373,789Net Assets 2023: $3,118,0472023Assets 2024: $5,912,043Liabilities 2024: $1,902,024Net Assets 2024: $4,010,0192024

Highlighted filing

2017

Assets$2,148,459
Liabilities$545,493
Net Assets$1,602,966
Open 2017 Filing

Operations Trend

Revenue Growth51st percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2012: $816,7732012Expenses 2013: $1,397,6632013Revenue 2014: $1,734,932Expenses 2014: $1,828,887Net Income 2014: -$93,9552014Revenue 2015: $1,500,013Expenses 2015: $1,484,230Net Income 2015: $15,7832015Revenue 2016: $1,321,444Expenses 2016: $1,163,825Net Income 2016: $157,6192016Revenue 2017: $1,385,977Expenses 2017: $1,434,670Net Income 2017: -$48,6932017Revenue 2018: $1,246,101Expenses 2018: $1,234,175Net Income 2018: $11,9262018Revenue 2019: $1,374,193Expenses 2019: $1,316,758Net Income 2019: $57,4352019Revenue 2020: $1,356,499Expenses 2020: $1,283,739Net Income 2020: $72,7602020Revenue 2021: $1,494,875Expenses 2021: $1,071,016Net Income 2021: $423,8592021Revenue 2022: $1,536,787Expenses 2022: $1,237,493Net Income 2022: $299,2942022Revenue 2023: $1,718,234Expenses 2023: $1,309,229Net Income 2023: $409,0052023Revenue 2024: $2,154,560Expenses 2024: $1,431,852Net Income 2024: $722,7082024

Highlighted filing

2017

Revenue$1,385,977
Expenses$1,434,670
Net Income-$48,693
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 14, 2018
Return Version
2016v3.1
Gross Receipts
$1,385,977
Mission and Program Overview

Mission

To promote economic and industrial development in houghton county and in the state of michigan.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$972,621$1,244,631▲ $272,010
Cash and Non-Interest-Bearing Accounts$458,418$570,910▲ $112,492
Prepaid Expenses and Deferred Charges$308,334$283,334▼ $25,000
Land, Buildings, and Equipment, Net$66,529$40,203▼ $26,326
Accounts Receivable$253,789$6,855▼ $246,934
Pledges and Grants Receivable$7,913$2,526▼ $5,387
Total Assets$2,067,604$2,148,459▲ $80,855
Liabilities
Deferred Revenue$439,373$438,258▼ $1,115
Accounts Payable and Accrued Expenses$59,212$89,748▲ $30,536
Other Liabilities$14,830$17,487▲ $2,657
Total Liabilities$513,415$545,493▲ $32,078
Net Assets / Fund Balance
Unrestricted Net Assets$1,554,189$1,602,966▲ $48,777
Total Net Assets Fund Balance$1,554,189$1,602,966▲ $48,777
Total Liabilities and Net Assets / Fund Balance$2,067,604$2,148,459▲ $80,855

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$40,203$121,226$161,429
Compensation and Service Providers
Top Officer Pay83rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Marilyn ClarkChief ExecutFT$115,288$33,651$148,939

Board Members and Trustees

NameTitle
Eric WaaraChair
Kevin CodereVice-chair
Alan WestBoard Member
Joe DancyBoard Member
Lee Ann RouseBoard Member
Paul DeanBoard Member
Steve ZutterBoard Member
Tom MerzBoard Member
Glenn AndersonSecretary
Dave ReedTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,151,986
Program Service Revenue
$199,881
Investment Income
$24,540
Other Revenue
$9,570
Change in Net Assets
$-48,693

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,385,977
Revenue Not Reported on Form 990
$97,470
Total Revenue per Audited Statements
$1,483,447
Total Revenue per Form 990
$1,385,977
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$859,672
Salaries, Compensation, and Employee Benefits$574,998
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other-$352,344-$352,344
Other Salaries and Wages$154,774$166,549-$321,323
Current Officers, Directors, Trustees, and Key Employees$13,270$136,761-$150,031
Occupancy-$150,006-$150,006
Office Expenses$2,294$135,423-$137,717
Other Employee Benefits-$45,570-$45,570
Travel$16,956$22,719-$39,675
Payroll Taxes$1$32,487-$32,488
Depreciation Depletion-$26,326-$26,326
Pension Plan Contributions-$25,586-$25,586
Conferences and Meetings-$21,432-$21,432
Fees for Services Accounting-$7,496-$7,496
Advertising-$4,714-$4,714
Insurance-$1,194-$1,194
Fees for Services Legal-$269-$269
Interest-$138-$138
Other Expenses$1,000$40-$40
Total Functional Expenses$276,050$1,158,620$0$1,434,670

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,434,670
Total Expenses per Audited Statements$1,434,670
Total Expenses per Form 990$1,434,670
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$17,487
Governance and Compliance

Governance Checklist

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

“Form 990 is reviewed by the finance committee. Then the form is approved for submission.”

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

“Board members sign "conflict of interest" disclosure forms annually.”

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

“The personnel committee reviews past performance and comparability data before determining the ceo's compensation package. Decisions are documented in the committee meeting minutes and the supporting detail information is kept in the employee's personnel file.”

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

“The personnel committee reviews past performance and comparability data before determining any key employee's compensation package. Decisions are documented in the committee meeting minutes and the supporting detail information is kept in the employee's personnel file.”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Michigan Tech Enterprise
EIN
30-0109013
Phone
9064877000
Address
600 E LAKESHORE DRIVE, HOUGHTON, MI 49931

Signing Officer

Name
Marilyn Clark
Title
Chief Executive
Phone
9064877000
Signed
2018-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Marilyn Clark
Formed
2002
Legal Domicile
Mi
Voting Board Members
10
Independent Board Members
10
Employees
5

Preparer

Firm
Rukkila Negro and Associates Cpas Pc
Address
310 SHELDEN AVENUE, HOUGHTON, MI 49931-1964
Preparer
Peter a Negro
Phone
9064826601
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

“Volunteers consist of board members who provide various business expertise to the organization.”

Form 990, Part IX, Line 11G

“Consulting & contract service 0 352,344 0”

Raw XML AppendixShowing 400 of 449 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.

Path#Value
IRS990/AccountantCompileOrReviewInd0false
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt059212
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt089748
IRS990/AccountsReceivableGrp/BOYAmt0253789
IRS990/AccountsReceivableGrp/EOYAmt06855
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0TO PROMOTE ECONOMIC AND INDUSTRIAL DEVELOPMENT IN HOUGHTON COUNTY AND IN THE STATE OF MICHIGAN.
IRS990/AdvertisingGrp/ManagementAndGeneralAmt04714
IRS990/AdvertisingGrp/TotalAmt04714
IRS990/AnnualDisclosureCoveredPrsnInd0true
IRS990/AuditCommitteeInd0true
IRS990/BooksInCareOfDetail/PersonNm0MICHIGAN TECH ENTERPRISE CORP
IRS990/BooksInCareOfDetail/PhoneNum09064877000
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0600 E LAKESHORE DR STE 201
IRS990/BooksInCareOfDetail/USAddress/CityNm0HOUGHTON
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MI
IRS990/BooksInCareOfDetail/USAddress/ZIPCd049931
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOfficerEntInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CashNonInterestBearingGrp/BOYAmt0458418
IRS990/CashNonInterestBearingGrp/EOYAmt0570910
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CollectionsOfArtInd0false
IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt0136761
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt013270
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0150031
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0true
IRS990/CompensationProcessOtherInd0true
IRS990/ConferencesMeetingsGrp/ManagementAndGeneralAmt021432
IRS990/ConferencesMeetingsGrp/TotalAmt021432
IRS990/ConflictOfInterestPolicyInd0true
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt01151986
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt024540
IRS990/CYOtherExpensesAmt0859672
IRS990/CYOtherRevenueAmt09570
IRS990/CYProgramServiceRevenueAmt0199881
IRS990/CYRevenuesLessExpensesAmt0-48693
IRS990/CYSalariesCompEmpBnftPaidAmt0574998
IRS990/CYTotalExpensesAmt01434670
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt01385977
IRS990/DecisionsSubjectToApprovaInd0false
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DeferredRevenueGrp/BOYAmt0439373
IRS990/DeferredRevenueGrp/EOYAmt0438258
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt026326
IRS990/DepreciationDepletionGrp/TotalAmt026326
IRS990/Desc0TO EXPAND OPPORTUNITY AND KNOWLEDGE PERTAINING TO SCIENTIFIC AND TECHNOLOGICAL RESEARCH AND DEVELOPMENT AMONG PUBLIC AND PRIVATE ENTITIES. THE ENTITY HELD 68 EDUCATIONAL PROGRAMS/SEMINARS WITH 1,261 ATTENDEES, HOUSED 14 COMPANIES AND ASSISTED IN THE CREATION OF 487 NEW JOBS DURING THE YEAR.
IRS990/DescribedInSection501c3Ind0true
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0false
IRS990/DonorAdvisedFundInd0false
IRS990/ElectionOfBoardMembersInd0false
IRS990/EmployeeCnt05
IRS990/EmploymentTaxReturnsFiledInd0true
IRS990/EngagedInExcessBenefitTransInd0false
IRS990/ExpenseAmt0276050
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FederalGrantAuditRequiredInd0false
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt07496
IRS990/FeesForServicesAccountingGrp/TotalAmt07496
IRS990/FeesForServicesLegalGrp/ManagementAndGeneralAmt0269
IRS990/FeesForServicesLegalGrp/TotalAmt0269
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt0352344
IRS990/FeesForServicesOtherGrp/TotalAmt0352344
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignOfficeInd0false
IRS990/Form1098CFiledInd0false
IRS990/Form8282PropertyDisposedOfInd0false
IRS990/Form8899Filedind0false
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt040.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt12.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt20.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt50.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt60.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt70.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt80.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt90.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt100.50
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt033651
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/PersonNm0MARILYN CLARK
IRS990/Form990PartVIISectionAGrp/PersonNm1ERIC WAARA
IRS990/Form990PartVIISectionAGrp/PersonNm2KEVIN CODERE
IRS990/Form990PartVIISectionAGrp/PersonNm3DAVE REED
IRS990/Form990PartVIISectionAGrp/PersonNm4GLENN ANDERSON
IRS990/Form990PartVIISectionAGrp/PersonNm5TOM MERZ
IRS990/Form990PartVIISectionAGrp/PersonNm6JOE DANCY
IRS990/Form990PartVIISectionAGrp/PersonNm7PAUL DEAN
IRS990/Form990PartVIISectionAGrp/PersonNm8STEVE ZUTTER
IRS990/Form990PartVIISectionAGrp/PersonNm9LEE ANN ROUSE
IRS990/Form990PartVIISectionAGrp/PersonNm10ALAN WEST
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt0115288
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHIEF EXECUT
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE-CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990ProvidedToGvrnBodyInd0false
IRS990/FormationYr02002
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt010
IRS990/GovernmentGrantsAmt01151986
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt01385977
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt010
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt01194
IRS990/InsuranceGrp/TotalAmt01194
IRS990/InterestGrp/ManagementAndGeneralAmt0138
IRS990/InterestGrp/TotalAmt0138
IRS990/InvestmentIncomeGrp/ExclusionAmt024540
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt024540
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsPubTradedSecGrp/BOYAmt0972621
IRS990/InvestmentsPubTradedSecGrp/EOYAmt01244631
IRS990/IRPDocumentCnt021
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0121226
IRS990/LandBldgEquipBasisNetGrp/BOYAmt066529
IRS990/LandBldgEquipBasisNetGrp/EOYAmt040203
IRS990/LandBldgEquipCostOrOtherBssAmt0161429
IRS990/LegalDomicileStateCd0MI
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO PROMOTE ECONOMIC AND INDUSTRIAL DEVELOPMENT IN HOUGHTON COUNTY AND IN THE STATE OF MICHIGAN.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt01554189
IRS990/NetAssetsOrFundBalancesEOYAmt01602966
IRS990/NetUnrlzdGainsLossesInvstAmt097470
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt0150006
IRS990/OccupancyGrp/TotalAmt0150006
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0135423
IRS990/OfficeExpensesGrp/ProgramServicesAmt02294
IRS990/OfficeExpensesGrp/TotalAmt0137717
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt045570
IRS990/OtherEmployeeBenefitsGrp/TotalAmt045570
IRS990/OtherExpensesGrp/Desc0PROGRAM SERVICES
IRS990/OtherExpensesGrp/Desc1EQUIPMENT REPAIR & MAINT
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc3PROPERTY AND EQUIPMENT
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt020037
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt19529
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt240
IRS990/OtherExpensesGrp/ProgramServicesAmt087755
IRS990/OtherExpensesGrp/ProgramServicesAmt11000
IRS990/OtherExpensesGrp/TotalAmt087755
IRS990/OtherExpensesGrp/TotalAmt120037
IRS990/OtherExpensesGrp/TotalAmt210529
IRS990/OtherExpensesGrp/TotalAmt340
IRS990/OtherLiabilitiesGrp/BOYAmt014830
IRS990/OtherLiabilitiesGrp/EOYAmt017487
IRS990/OtherRevenueMiscGrp/Desc0OTHER REVENUE
IRS990/OtherRevenueMiscGrp/ExclusionAmt09570
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt09570
IRS990/OtherRevenueTotalAmt09570
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0166549
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0154774
IRS990/OtherSalariesAndWagesGrp/TotalAmt0321323
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt032487
IRS990/PayrollTaxesGrp/ProgramServicesAmt01
IRS990/PayrollTaxesGrp/TotalAmt032488
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt025586
IRS990/PensionPlanContributionsGrp/TotalAmt025586
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt07913
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt02526
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0308334
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0283334
IRS990/PrincipalOfficerNm0MARILYN CLARK
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc1OFFICE SERVICES
IRS990/ProgramServiceRevenueGrp/Desc2REVOLVING LOAN INTEREST EARNE
IRS990/ProgramServiceRevenueGrp/Desc3SMART START
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0187401
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt15781
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt23399
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt33300
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0187401
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt15781
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt23399
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt33300
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01117450
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt020268
IRS990/PYOtherExpensesAmt0769906
IRS990/PYOtherRevenueAmt0769
IRS990/PYProgramServiceRevenueAmt0182957
IRS990/PYRevenuesLessExpensesAmt0157619
IRS990/PYSalariesCompEmpBnftPaidAmt0393919
IRS990/PYTotalExpensesAmt01163825
IRS990/PYTotalRevenueAmt01321444
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-48693
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0199881
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0REFUNDS, REIMBURSEMENTS, MISC 6,376
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01151986
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01117450
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01348618
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01546551
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01334863
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt06499468
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt024540
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt020268
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt083
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt082
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0473
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt045446
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0921724
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt09570
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt0769
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt01872
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt0235
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt03500
IRS990ScheduleA/OtherIncome170Grp/TotalAmt015946
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99060
IRS990ScheduleA/PublicSupportPY170Pct00.99490
IRS990ScheduleA/PublicSupportTotal170Amt06499468
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01151986
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01117450
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01348618
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01546551
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01334863
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt06499468
IRS990ScheduleA/TotalSupportAmt06560860
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt040203
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0121226
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0161429
IRS990ScheduleD/ExpensesSubtotalAmt01434670
IRS990ScheduleD/NetUnrealizedGainsInvstAmt097470
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt017487
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt097470
IRS990ScheduleD/RevenueSubtotalAmt01385977
IRS990ScheduleD/TotalBookValueLandBuildingsAmt040203
IRS990ScheduleD/TotalExpensesPerForm990Amt01434670
IRS990ScheduleD/TotalLiabilityAmt017487
IRS990ScheduleD/TotalRevenuePerForm990Amt01385977
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01483447
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01434670
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VOLUNTEERS CONSIST OF BOARD MEMBERS WHO PROVIDE VARIOUS BUSINESS EXPERTISE TO THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE. THEN THE FORM IS APPROVED FOR SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD MEMBERS SIGN "CONFLICT OF INTEREST" DISCLOSURE FORMS ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PERSONNEL COMMITTEE REVIEWS PAST PERFORMANCE AND COMPARABILITY DATA BEFORE DETERMINING THE CEO'S COMPENSATION PACKAGE. DECISIONS ARE DOCUMENTED IN THE COMMITTEE MEETING MINUTES AND THE SUPPORTING DETAIL INFORMATION IS KEPT IN THE EMPLOYEE'S PERSONNEL FILE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PERSONNEL COMMITTEE REVIEWS PAST PERFORMANCE AND COMPARABILITY DATA BEFORE DETERMINING ANY KEY EMPLOYEE'S COMPENSATION PACKAGE. DECISIONS ARE DOCUMENTED IN THE COMMITTEE MEETING MINUTES AND THE SUPPORTING DETAIL INFORMATION IS KEPT IN THE EMPLOYEE'S PERSONNEL FILE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CONSULTING & CONTRACT SERVICE 0 352,344 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
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 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02067604
IRS990/TotalAssetsEOYAmt02148459
IRS990/TotalAssetsGrp/BOYAmt02067604
IRS990/TotalAssetsGrp/EOYAmt02148459
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01151986
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01158620
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0276050
IRS990/TotalFunctionalExpensesGrp/TotalAmt01434670
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0513415
IRS990/TotalLiabilitiesEOYAmt0545493
IRS990/TotalLiabilitiesGrp/BOYAmt0513415
IRS990/TotalLiabilitiesGrp/EOYAmt0545493
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01554189
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01602966
IRS990/TotalOtherCompensationAmt033651
IRS990/TotalProgramServiceExpensesAmt0276050
IRS990/TotalProgramServiceRevenueAmt0199881
IRS990/TotalReportableCompFromOrgAmt0115288
IRS990/TotalRevenueGrp/ExclusionAmt034110
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0199881
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01385977
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02067604
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02148459

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,148,459
Liabilities
$545,493
Net assets
$1,602,966
Revenue
$1,385,977
Expenses
$1,434,670
Net income
-$48,693
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.91$1.90$4.01$2.15$1.43$0.72
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.49$0.37$3.12$1.72$1.31$0.41
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.99$0.42$2.58$1.54$1.24$0.30
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.19$0.42$2.77$1.49$1.07$0.42
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.31$0.50$1.80$1.36$1.28$0.07
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.21$0.44$1.77$1.37$1.32$0.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.17$0.49$1.68$1.25$1.23$0.01
2017Detailed filing. Detailed filing data is available for this year.$2.15$0.55$1.60$1.39$1.43$0.05
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.07$0.51$1.55$1.32$1.16$0.16
2015Detailed filing. Detailed filing data is available for this year.$1.91$0.50$1.41$1.50$1.48$0.02
2014Detailed filing. Detailed filing data is available for this year.$2.03$0.64$1.39$1.73$1.83$0.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.05$0.67$1.39$1.40
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.76$0.58$1.18$0.82