Civic Intelligence

Beaver Island Community Development Corporation

990 • Fiscal year 2019 • EIN 30-0246447

Jan 01, 2019 to Dec 31, 2019 • Filed on Apr 29, 2020

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

95th percentile

1.25x

Higher debt load relative to assets than 95% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

100th percentile

18.66x

Higher debt load relative to revenue than 100% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

4th percentile

-75%

Higher net margin than 4% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

24th percentile

-5.1%

Faster asset growth than 24% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

43rd percentile

1.1%

Faster revenue growth than 43% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Assets

Down

$832,406

Down $44,455 (-5.1%) from 2018

Net Assets

Down

-$209,192

Down $41,801 (-25%) from 2018

Liabilities

Down

$1,041,598

Down $2,654 (-0.3%) from 2018

Revenue

Up

$55,805

Up $623 (+1.1%) from 2018

Expenses

Up

$97,606

Up $14,412 (+17%) from 2018

Net Income

Down

-$41,801

Down $13,789 (-49%) from 2018

Historical Trend

Balance Sheet Trend

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

2019

Assets$832,406
Liabilities$1,041,598
Net Assets-$209,192

Operations Trend

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

2019

Revenue$55,805
Expenses$97,606
Net Income-$41,801
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Apr 29, 2020
Return Version
2019v5.1
Gross Receipts
$61,610
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$805,156$767,820▼ $37,336
Savings and Temporary Cash Investments$26,644$31,016▲ $4,372
Cash and Non-Interest-Bearing Accounts$42,655$30,636▼ $12,019
Accounts Receivable$1,123$1,567▲ $444
Prepaid Expenses and Deferred Charges$1,283$1,367▲ $84
Total Assets$876,861$832,406▼ $44,455
Liabilities
Mortgage Notes Payable Secured by Investment Property$561,250$556,264▼ $4,986
Other Liabilities$482,690$484,539▲ $1,849
Accounts Payable and Accrued Expenses$312$795▲ $483
Total Liabilities$1,044,252$1,041,598▼ $2,654
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-167,391$-209,192▼ $41,801
Total Net Assets Fund Balance$-167,391$-209,192▼ $41,801
Total Liabilities and Net Assets / Fund Balance$876,861$832,406▼ $44,455

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$707,820$318,908$1,026,728
Land$60,000-$60,000
Other Land Buildings$0$38,515$38,515
Compensation and Service Providers

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$4,249
Program Service Revenue
$45,360
Investment Income
$67
Other Revenue
$6,129
All Other Contributions
$4,249
Change in Net Assets
$-41,801
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$82,606
Grants and Similar Amounts Paid$15,000
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
Grants to Domestic Orgs$15,000--$15,000
Interest$11,774--$11,774
Fees for Services Management$4,310$4,310-$8,620
Insurance$1,430--$1,430
Fees for Services Accounting$675$675-$1,350
All Other Expenses$1,284--$1,284
Other Expenses$1,156--$1,156
Office Expenses$234--$234
Travel$121--$121
Advertising$4--$4
Total Functional Expenses$92,621$4,985$0$97,606
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Charlevoix County Community FoundationEast Jordan, MI501(c)(3)General Support$15,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Gaming Gross Income$9,300
Gaming Direct Expenses$5,805
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 MackenzieVice President 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$4,211
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Mshda/cdbg$472,000
Other Current Liabilities$12,539
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
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
Jane Mackenzie
Title
Vice President
Phone
2314482004
Signed
2020-04-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jane Mackenzie
Formed
2003
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

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/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt067
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt051
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt010
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt04
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0132
IRS990ScheduleA/InvestmentIncomeCYPct00.00050
IRS990ScheduleA/InvestmentIncomePYPct00.00020
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99950
IRS990ScheduleA/PublicSupportPY509Pct00.99980
IRS990ScheduleA/PublicSupportTotal509Amt0276104
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt052243
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt047381
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt061872
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt055316
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt059292
IRS990ScheduleA/Total509Grp/TotalAmt0276104
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt052310
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt047432
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt061882
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt055320
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt059292
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0276236
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0707820
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0318908
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01026728
IRS990ScheduleD/LandGrp/BookValueAmt060000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt060000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt038515
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt038515
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt012539
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1472000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OTHER CURRENT LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1MSHDA/CDBG
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0767820
IRS990ScheduleD/TotalLiabilityAmt0484539
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt015000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GENERAL SUPPORT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0CHARLEVOIX COUNTY COMMUNITY FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientEIN0383033739
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0PO BOX 718
IRS990ScheduleI/RecipientTable/USAddress/CityNm0EAST JORDAN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MI
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd049727
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0JANE MACKENZIE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0VICE PRESIDENT OF BICDC AND EXECUTIVE DIRECTOR OF NHCDC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt04211
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/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0876861
IRS990/TotalAssetsEOYAmt0832406
IRS990/TotalAssetsGrp/BOYAmt0876861
IRS990/TotalAssetsGrp/EOYAmt0832406
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt04249
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt04985
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt092621
IRS990/TotalFunctionalExpensesGrp/TotalAmt097606
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01044252
IRS990/TotalLiabilitiesEOYAmt01041598
IRS990/TotalLiabilitiesGrp/BOYAmt01044252
IRS990/TotalLiabilitiesGrp/EOYAmt01041598
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-167391
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-209192
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt092621
IRS990/TotalProgramServiceRevenueAmt045360
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt067
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt051489
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt055805
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0876861
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0832406
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0121
IRS990/TravelGrp/TotalAmt0121
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
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/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JANE MACKENZIE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VICE PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02314482004
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-04-29
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

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