Civic Intelligence

Beaver Island Community Development Corporation

990 • Fiscal year 2017 • EIN 30-0246447

Jan 01, 2017 to Dec 31, 2017 • Filed on Mar 13, 2018

Organization ProfileWWW.BEAVERISLANDCDC.ORG
PO Box 447Beaver Island, MI 49782

(231) 448-2004

Siviq Scores

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

Liabilities / Assets

94th percentile

1.15x

Higher debt load relative to assets than 94% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

99th percentile

18.35x

Higher debt load relative to revenue than 99% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

3rd percentile

-82%

Higher net margin than 3% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Asset Growth

22nd percentile

-5.5%

Faster asset growth than 22% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

47th percentile

3.1%

Faster revenue growth than 47% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$906,912

Down $52,554 (-5.5%) from 2016

Net Assets

Down

-$139,379

Down $46,646 (-50%) from 2016

Liabilities

Down

$1,046,291

Down $5,908 (-0.6%) from 2016

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin3rd percentile

Revenue

Up

$57,015

Up $1,695 (+3.1%) from 2016

Expenses

Up

$103,661

Up $24,049 (+30%) from 2016

Net Income

Down

-$46,646

Down $22,354 (-92%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

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

$1.5M$1.0M$500K$0-$500KAssets 2011: $1,115,571Liabilities 2011: $1,068,474Net Assets 2011: $47,0972011Assets 2013: $1,050,596Liabilities 2013: $1,064,976Net Assets 2013: -$14,3802013Assets 2014: $1,022,194Liabilities 2014: $1,060,476Net Assets 2014: -$38,2822014Assets 2015: $987,421Liabilities 2015: $1,055,862Net Assets 2015: -$68,4412015Assets 2016: $959,466Liabilities 2016: $1,052,199Net Assets 2016: -$92,7332016Assets 2017: $906,912Liabilities 2017: $1,046,291Net Assets 2017: -$139,3792017Assets 2018: $876,861Liabilities 2018: $1,044,252Net Assets 2018: -$167,3912018Assets 2019: $832,406Liabilities 2019: $1,041,598Net Assets 2019: -$209,1922019Assets 2020: $802,895Liabilities 2020: $1,042,377Net Assets 2020: -$239,4822020Assets 2021: $762,001Liabilities 2021: $1,034,761Net Assets 2021: -$272,7602021Assets 2022: $732,012Liabilities 2022: $1,030,839Net Assets 2022: -$298,8272022Assets 2023: $701,197Liabilities 2023: $1,027,444Net Assets 2023: -$326,2472023Assets 2024: $664,257Liabilities 2024: $1,020,544Net Assets 2024: -$356,2872024

Highlighted filing

2017

Assets$906,912
Liabilities$1,046,291
Net Assets-$139,379
Open 2017 Filing

Operations Trend

Revenue Growth47th percentile

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

$150K$100K$50K$0-$50K-$100KExpenses 2011: $55,3762011Revenue 2013: $39,645Expenses 2013: $96,533Net Income 2013: -$56,8882013Revenue 2014: $65,122Expenses 2014: $89,024Net Income 2014: -$23,9022014Revenue 2015: $59,292Expenses 2015: $89,451Net Income 2015: -$30,1592015Revenue 2016: $55,320Expenses 2016: $79,612Net Income 2016: -$24,2922016Revenue 2017: $57,015Expenses 2017: $103,661Net Income 2017: -$46,6462017Revenue 2018: $55,182Expenses 2018: $83,194Net Income 2018: -$28,0122018Revenue 2019: $55,805Expenses 2019: $97,606Net Income 2019: -$41,8012019Revenue 2020: $46,698Expenses 2020: $76,988Net Income 2020: -$30,2902020Revenue 2021: $48,753Expenses 2021: $82,031Net Income 2021: -$33,2782021Revenue 2022: $48,943Expenses 2022: $75,010Net Income 2022: -$26,0672022Revenue 2023: $49,905Expenses 2023: $77,325Net Income 2023: -$27,4202023Revenue 2024: $61,142Expenses 2024: $91,182Net Income 2024: -$30,0402024

Highlighted filing

2017

Revenue$57,015
Expenses$103,661
Net Income-$46,646
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Mar 13, 2018
Return Version
2017v2.2
Gross Receipts
$61,882
Mission and Program Overview

Mission

Development and management of a 6 unit low-income senior housing project located on beaver island, mi.

Development and management of a 6 unit low-income senior housing project on beaver island, mi.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$879,827$842,491▼ $37,336
Cash and Non-Interest-Bearing Accounts$59,544$38,971▼ $20,573
Savings and Temporary Cash Investments$17,743$23,061▲ $5,318
Prepaid Expenses and Deferred Charges$1,229$1,266▲ $37
Accounts Receivable$1,123$1,123→ $0
Total Assets$959,466$906,912▼ $52,554
Liabilities
Mortgage Notes Payable Secured by Investment Property$570,610$566,029▼ $4,581
Other Liabilities$479,735$479,631▼ $104
Accounts Payable and Accrued Expenses$1,854$631▼ $1,223
Total Liabilities$1,052,199$1,046,291▼ $5,908
Net Assets / Fund Balance
Unrestricted Net Assets$-92,733$-139,379▼ $46,646
Total Net Assets Fund Balance$-92,733$-139,379▼ $46,646
Total Liabilities and Net Assets / Fund Balance$959,466$906,912▼ $52,554

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$782,491$244,237$1,026,728
Land$60,000-$60,000
Other Land Buildings$0$38,515$38,515
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Pete LodicoPresident
Alana AndersonDirector
Jane MackenzieDirector
Connie WojanSecretary
Kathy SpeckTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,474
Program Service Revenue
$44,042
Investment Income
$10
Other Revenue
$11,489
All Other Contributions
$1,474
Change in Net Assets
$-46,646
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$103,661
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
Depreciation Depletion$37,336--$37,336
Interest$13,311--$13,311
Fees for Services Management$6,466$6,466-$12,932
All Other Expenses$2,645--$2,645
Other Expenses$2,431--$2,431
Insurance$1,488--$1,488
Fees for Services Accounting$575$575-$1,150
Office Expenses$133--$133
Travel$82--$82
Advertising$5--$5
Total Functional Expenses$96,620$7,041$0$103,661
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Gaming Gross Income$12,919
Gaming Direct Expenses$4,867
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
Jane MackenzieBoard Member of Bicdc and Executive Director of NhcdcBicdc Assists With Daily Operations of the Apartments, Approves Invoices and the Annual Budget. Bicdc Hired Nhcdc to Provide Site Management Services.No$3,594
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Mshda /cdbg$472,000
Other Current Liabilities$7,631
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Kmg prestige is the property management company. They employ the maintenance person and provide bookkeeping, compliance, and risk management services. Beaver island community development corporation (bicdc) provides the oversight of the daily operations of the apartments and approves invoices to be paid. Bicdc has hired northern homes cdc (nhcdc) to provide site management services.”

Form 990, Part VI, Section B, Line 11B

“From 990 is reviewed by an officer prior to filing.”

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

“The conflict of interest policy is reviewed annually.”

Form 990, Part VI, Section C, Line 19

“Documents are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Beaver Island Community Development
EIN
30-0246447
Phone
2314482004
Address
PO BOX 447, BEAVER ISLAND, MI 49782

Signing Officer

Name
Pete Lodico
Title
President
Phone
2314482004
Signed
2018-03-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Pete Lodico
Formed
2003
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
14

Preparer

Firm
Maner Costerisan Pc
Address
2425 E GRAND RIVER SUITE 1, LANSING, MI 48912-3291
Preparer
L Susan Hafner CPA
Phone
5173237500
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt061872
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt055316
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt059292
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt065122
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt039645
IRS990ScheduleA/Total509Grp/TotalAmt0281247
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt061882
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt055320
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt059292
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt065122
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt039645
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0281261
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0782491
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0244237
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01026728
IRS990ScheduleD/LandGrp/BookValueAmt060000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt060000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt038515
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt038515
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt07631
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1472000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OTHER CURRENT LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1MSHDA /CDBG
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0842491
IRS990ScheduleD/TotalLiabilityAmt0479631
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0JANE MACKENZIE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD MEMBER OF BICDC AND EXECUTIVE DIRECTOR OF NHCDC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt03594
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0BICDC ASSISTS WITH DAILY OPERATIONS OF THE APARTMENTS, APPROVES INVOICES AND THE ANNUAL BUDGET. BICDC HIRED NHCDC TO PROVIDE SITE MANAGEMENT SERVICES.
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0KMG PRESTIGE IS THE PROPERTY MANAGEMENT COMPANY. THEY EMPLOY THE MAINTENANCE PERSON AND PROVIDE BOOKKEEPING, COMPLIANCE, AND RISK MANAGEMENT SERVICES. BEAVER ISLAND COMMUNITY DEVELOPMENT CORPORATION (BICDC) PROVIDES THE OVERSIGHT OF THE DAILY OPERATIONS OF THE APARTMENTS AND APPROVES INVOICES TO BE PAID. BICDC HAS HIRED NORTHERN HOMES CDC (NHCDC) TO PROVIDE SITE MANAGEMENT SERVICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FROM 990 IS REVIEWED BY AN OFFICER PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0959466
IRS990/TotalAssetsEOYAmt0906912
IRS990/TotalAssetsGrp/BOYAmt0959466
IRS990/TotalAssetsGrp/EOYAmt0906912
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01474
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt07041
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt096620
IRS990/TotalFunctionalExpensesGrp/TotalAmt0103661
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01052199
IRS990/TotalLiabilitiesEOYAmt01046291
IRS990/TotalLiabilitiesGrp/BOYAmt01052199
IRS990/TotalLiabilitiesGrp/EOYAmt01046291
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-92733
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-139379
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt096620
IRS990/TotalProgramServiceRevenueAmt044042
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt010
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt055531
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt057015
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt014
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0959466
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0906912
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt082
IRS990/TravelGrp/TotalAmt082
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-92733
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-139379
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 447
IRS990/USAddress/CityNm0BEAVER ISLAND
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd049782
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.BEAVERISLANDCDC.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0PETE LODICO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02314482004
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-03-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BEAVER ISLAND COMMUNITY DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0BEAV
ReturnHeader/Filer/EIN0300246447
ReturnHeader/Filer/PhoneNum02314482004
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 447
ReturnHeader/Filer/USAddress/CityNm0BEAVER ISLAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd049782
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId09808C294518D2FD359BD74340A25A36BBE849CAD
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId049D8BBA2C38142DE4747CA9F5DF0D76BD0732009
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0216.163.63.50
ReturnHeader/FilingSecurityInformation/IPDt02018-03-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm014:13:06
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0382157642
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MANER COSTERISAN PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02425 E GRAND RIVER SUITE 1
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LANSING
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0489123291
ReturnHeader/PreparerPersonGrp/PhoneNum05173237500
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0L SUSAN HAFNER CPA
ReturnHeader/ReturnTs02018-03-22T15:47:38-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$906,912
Liabilities
$1,046,291
Net assets
-$139,379
Revenue
$57,015
Expenses
$103,661
Net income
-$46,646
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.66$1.02$0.36$0.06$0.09$0.03
2023Detailed filing. Detailed filing data is available for this year.$0.70$1.03$0.33$0.05$0.08$0.03
2022Detailed filing. Detailed filing data is available for this year.$0.73$1.03$0.30$0.05$0.08$0.03
2021Detailed filing. Detailed filing data is available for this year.$0.76$1.03$0.27$0.05$0.08$0.03
2020Detailed filing. Detailed filing data is available for this year.$0.80$1.04$0.24$0.05$0.08$0.03
2019Detailed filing. Detailed filing data is available for this year.$0.83$1.04$0.21$0.06$0.10$0.04
2018Detailed filing. Detailed filing data is available for this year.$0.88$1.04$0.17$0.06$0.08$0.03
2017Detailed filing. Detailed filing data is available for this year.$0.91$1.05$0.14$0.06$0.10$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.96$1.05$0.09$0.06$0.08$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.99$1.06$0.07$0.06$0.09$0.03
2014Detailed filing. Detailed filing data is available for this year.$1.02$1.06$0.04$0.07$0.09$0.02
2013Detailed filing. Detailed filing data is available for this year.$1.05$1.06$0.01$0.04$0.10$0.06
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.12$1.07$0.05$0.06