Civic Intelligence

St Joe Valley Metronet Inc

990 • Fiscal year 2015 • EIN 30-0238064

Jan 01, 2015 to Dec 31, 2015 • Filed on Aug 04, 2016

130 S Main Street No 275South Bend, IN 46601

(574) 968-5353

Siviq Scores

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

Liabilities / Assets

56th percentile

0.15x

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

68th percentile

0.28x

Higher debt load relative to revenue than 68% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

89th percentile

41%

Higher net margin than 89% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

91st percentile

$214,197

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 12.5% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

71st percentile

9.1%

Faster asset growth than 71% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

35th percentile

-1.7%

Faster revenue growth than 35% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Up

$3,119,866

Up $259,791 (+9.1%) from 2014

Net Assets

Up

$2,636,322

Up $624,136 (+31%) from 2014

Liabilities

Down

$483,544

Down $364,345 (-43%) from 2014

Revenue

Down

$1,716,096

Down $30,433 (-1.7%) from 2014

Expenses

Down

$1,019,753

Down $186,904 (-15%) from 2014

Net Income

Up

$696,343

Up $156,471 (+29%) from 2014

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2014: $2,860,075Liabilities 2014: $847,889Net Assets 2014: $2,012,1862014Assets 2015: $3,119,866Liabilities 2015: $483,544Net Assets 2015: $2,636,3222015Assets 2016: $5,022,107Liabilities 2016: $2,069,682Net Assets 2016: $2,952,4252016Assets 2017: $6,322,367Liabilities 2017: $2,043,209Net Assets 2017: $4,279,1582017Assets 2018: $6,512,611Liabilities 2018: $1,687,967Net Assets 2018: $4,824,6442018Assets 2019: $6,844,627Liabilities 2019: $1,593,754Net Assets 2019: $5,250,8732019Assets 2020: $7,235,202Liabilities 2020: $1,641,530Net Assets 2020: $5,593,6722020Assets 2021: $6,935,874Liabilities 2021: $1,122,886Net Assets 2021: $5,812,9882021Assets 2022: $7,369,699Liabilities 2022: $1,301,009Net Assets 2022: $6,068,6902022Assets 2023: $10,690,293Liabilities 2023: $1,158,818Net Assets 2023: $9,531,4752023Assets 2024: $12,004,021Liabilities 2024: $1,420,100Net Assets 2024: $10,583,9212024

Highlighted filing

2015

Assets$3,119,866
Liabilities$483,544
Net Assets$2,636,322

Operations Trend

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

$6.0M$4.0M$2.0M$0Revenue 2014: $1,746,529Expenses 2014: $1,206,657Net Income 2014: $539,8722014Revenue 2015: $1,716,096Expenses 2015: $1,019,753Net Income 2015: $696,3432015Revenue 2016: $1,876,483Expenses 2016: $1,643,030Net Income 2016: $233,4532016Revenue 2017: $3,011,725Expenses 2017: $2,096,868Net Income 2017: $914,8572017Revenue 2018: $2,490,413Expenses 2018: $2,035,835Net Income 2018: $454,5782018Revenue 2019: $2,508,632Expenses 2019: $2,132,526Net Income 2019: $376,1062019Revenue 2020: $2,493,887Expenses 2020: $2,270,615Net Income 2020: $223,2722020Revenue 2021: $2,247,361Expenses 2021: $1,950,015Net Income 2021: $297,3462021Revenue 2022: $2,503,117Expenses 2022: $2,068,407Net Income 2022: $434,7102022Revenue 2023: $5,928,961Expenses 2023: $2,313,106Net Income 2023: $3,615,8552023Revenue 2024: $3,262,154Expenses 2024: $2,052,580Net Income 2024: $1,209,5742024

Highlighted filing

2015

Revenue$1,716,096
Expenses$1,019,753
Net Income$696,343
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Aug 4, 2016
Return Version
2015v2.1
Gross Receipts
$1,716,096
Mission and Program Overview

Mission

Encourage the ongoing development of the educational, cultural, healthcare institutions, government related agencies and other organizations in st joseph and marshall county areas by providing high-speed data communications network at the most cost-effective prices available.

Encourage the ongoing development of the educational, cultural, health care institutions, government related agencies and other organizations in st joseph county area by providing high-speed data communications network at the most cost-effective prices available.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,485,786$2,503,090▲ $17,304
Cash and Non-Interest-Bearing Accounts$283,224$431,258▲ $148,034
Prepaid Expenses and Deferred Charges$50,224$38,414▼ $11,810
Investments Other Securities$8,664$18,812▲ $10,148
Accounts Receivable$0$16,040▲ $16,040
Total Assets$2,860,075$3,119,866▲ $259,791
Other Assets Total$32,177$112,252▲ $80,075
Liabilities
Deferred Revenue$534,940$313,716▼ $221,224
Other Liabilities$149,184$150,449▲ $1,265
Accounts Payable and Accrued Expenses$163,765$19,379▼ $144,386
Total Liabilities$847,889$483,544▼ $364,345
Net Assets / Fund Balance
Unrestricted Net Assets$2,012,186$2,636,322▲ $624,136
Total Net Assets Fund Balance$2,012,186$2,636,322▲ $624,136
Total Liabilities and Net Assets / Fund Balance$2,860,075$3,119,866▲ $259,791

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,503,090$1,905,565$4,408,655
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mary Jan HedmanCEOFT$189,221$24,976$214,197

Board Members and Trustees

NameTitle
Karl KingChairman
Pat McmahonPresident
Paul MarshVice Chairman
Craig BenninghoffBoard Member
Deb FutaBoard Member
Don NapoliBoard Member
Eric HorvathBoard Member
Gary HoipkemierBoard Member
Gary MillerBoard Member
James SchraderBoard Member
Kay AntonelliBoard Member
Ken PrinceBoard Member
Michelle WrightBoard Member
Regina EmbertonBoard Member
Robert KingBoard Member
Scott FordBoard Member
Ron KraemerSecretary
Jeff CostelloTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Martel Electric LLCInstall Fiber4601 CLEVELAND RD, South Bend, IN 46628$977,851
Revenue and Support

Revenue Composition

Contributions and Grants
$100,000
Program Service Revenue
$1,393,171
Investment Income
$132,270
Other Revenue
$90,655
All Other Contributions
$100,000
Change in Net Assets
$696,343
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$572,551
Salaries, Compensation, and Employee Benefits$447,202
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$236,788--$236,788
Current Officers, Directors, Trustees, and Key Employees$213,221--$213,221
Other Salaries and Wages$168,700--$168,700
Other Employee Benefits$44,813--$44,813
Occupancy$33,668--$33,668
Payroll Taxes$20,468--$20,468
Insurance$14,731--$14,731
Fees for Services Accounting$13,795--$13,795
Fees for Services Legal$12,230--$12,230
All Other Expenses$11,277--$11,277
Information Technology$7,679--$7,679
Other Expenses$6,907--$6,907
Travel$3,551--$3,551
Office Expenses$540--$540
Total Functional Expenses$1,019,753$0$0$1,019,753
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
Other Liabilities$133,830
Deferred Compensation$16,619
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
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, Part VI, Section B, Line 11

The organization's board of directors reviews the form 990 and discusses its contents prior to the return being filed.

Form 990, Part VI, Section B, Line 12C

The organization's board of directors reviews all vendor relationships for potential conflicts of interest with key employees(when present) and board members prior to purchasing goods and/or services.

Form 990, Part VI, Section B, Line 15A

The process for determining compensation for the organization's ceo, executive director, top management official and other officers or key employees(when present) of the organization is determined by the community based board of directors.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
St Joe Valley Metronet Inc
EIN
30-0238064
Phone
5749685353
Address
130 S MAIN STREET NO 275, SOUTH BEND, IN 46601

Signing Officer

Name
Mary Jan Hedman
Title
Chief Executive Officer
Phone
5749685353
Signed
2016-08-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mary Jan Hedman
Formed
2004
Legal Domicile
In
Voting Board Members
18
Independent Board Members
18
Employees
5
Volunteers
0

Preparer

Firm
Kruggel Lawton & Company LLC
Address
317 W FRANKLIN ST, ELKHART, IN 46516
Preparer
James B Champer
Phone
5742642247
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Book greater than tax depreciation -72,206.

Financial Statement Notes

PART X, LINE 2:

The income taxes topic, fasb asc 740, clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements. Asc 740 requires an enterprise to disclose the nature of uncertain tax positions taken, if any, when filing its income tax return utilizing a two-step process to recognize and measure any uncertain tax positions taken. The entity recognizes a tax benefit only if it is more likely than not the position would be sustained in a tax examination, with a tax examination being presumed to occur. No tax benefit will be recorded on tax positions not meeting the more likely than not test. Interest and penalties accrued or incurred, if any, as a result of applying asc 740 will be recorded to interest expense and other expense, respectively. Based on its evaluation, the organization has concluded that there are no uncertain tax positions requiring recognition in its financial statements. The organization's evaluation was performed for all federal and state tax periods still subject to examination. The organization's 2012 through 2014 federal and state exempt organization returns and the subsidiary's 2012 through 2014 federal and state tax returns remain subject to examination by the irs and state taxing authority.

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IRS990/MissionDesc0ENCOURAGE THE ONGOING DEVELOPMENT OF THE EDUCATIONAL, CULTURAL, HEALTH CARE INSTITUTIONS, GOVERNMENT RELATED AGENCIES AND OTHER ORGANIZATIONS IN ST JOSEPH COUNTY AND MARSHALL COUNTY AREAS BY PROVIDING HIGH-SPEED DATA COMMUNICATIONS NETWORK AT THE MOST COST-EFFECTIVE PRICES AVAILABLE.
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