Civic Intelligence

Beaver Island Community Development Corporation

990 • Fiscal year 2022 • EIN 30-0246447

Jan 01, 2022 to Dec 31, 2022 • Filed on Jun 30, 2023

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

96th percentile

1.41x

Higher debt load relative to assets than 96% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

100th percentile

21.06x

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

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

7th percentile

-53%

Higher net margin than 7% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

53rd percentile

$0

Higher top officer pay than 53% of similar nonprofits.

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

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

33rd percentile

-3.9%

Faster asset growth than 33% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

40th percentile

0.4%

Faster revenue growth than 40% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$732,012

Down $29,989 (-3.9%) from 2021

Net Assets

Down

-$298,827

Down $26,067 (-9.6%) from 2021

Liabilities

Down

$1,030,839

Down $3,922 (-0.4%) from 2021

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin7th percentile

Revenue

Up

$48,943

Up $190 (+0.4%) from 2021

Expenses

Down

$75,010

Down $7,021 (-8.6%) from 2021

Net Income

Up

-$26,067

Up $7,211 (+22%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth33rd 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

2022

Assets$732,012
Liabilities$1,030,839
Net Assets-$298,827
Open 2022 Filing

Operations Trend

Revenue Growth40th 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

2022

Revenue$48,943
Expenses$75,010
Net Income-$26,067
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jun 30, 2023
Return Version
2022v5.0
Gross Receipts
$48,943
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$693,149$655,813▼ $37,336
Savings and Temporary Cash Investments$43,418$50,173▲ $6,755
Cash and Non-Interest-Bearing Accounts$22,875$24,750▲ $1,875
Prepaid Expenses and Deferred Charges$1,284$0▼ $1,284
Accounts Receivable$1,275$1,276▲ $1
Total Assets$762,001$732,012▼ $29,989
Liabilities
Mortgage Notes Payable Secured by Investment Property$545,622$539,959▼ $5,663
Other Liabilities$488,773$489,830▲ $1,057
Accounts Payable and Accrued Expenses$366$1,050▲ $684
Total Liabilities$1,034,761$1,030,839▼ $3,922
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-272,760$-298,827▼ $26,067
Total Net Assets Fund Balance$-272,760$-298,827▼ $26,067
Total Liabilities and Net Assets / Fund Balance$762,001$732,012▼ $29,989

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$595,813$430,915$1,026,728
Land$60,000-$60,000
Other Land Buildings$0$38,515$38,515
Compensation and Service Providers
Top Officer Pay53rd percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$48,924
Investment Income
$19
Other Revenue
$0
Change in Net Assets
$-26,067
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$75,010
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$9,585--$9,585
Fees for Services Management$4,382$4,382-$8,764
Fees for Services Accounting$1,250$1,250-$2,500
Insurance$1,327--$1,327
Other Expenses$1,238--$1,238
All Other Expenses$1,059--$1,059
Travel$824--$824
Office Expenses$260--$260
Advertising$4--$4
Total Functional Expenses$69,378$5,632$0$75,010
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
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$3,895
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Mshda/cdbg$472,000
Other Current Liabilities$17,830
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 provide contracted maintenance services 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
2023-06-30
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
Amber Rathbun CPA
Phone
5173237500
Raw XML Appendix390 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.

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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt047381
IRS990ScheduleA/Total509Grp/TotalAmt0243962
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt048943
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt048753
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt046698
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt052310
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt047432
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0244136
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0595813
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0430915
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01026728
IRS990ScheduleD/LandGrp/BookValueAmt060000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt060000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt038515
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt038515
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt017830
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1472000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OTHER CURRENT LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1MSHDA/CDBG
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0655813
IRS990ScheduleD/TotalLiabilityAmt0489830
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0JANE MACKENZIE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0VICE PRESIDENT OF BICDC AND EXECUTIVE DIRECTOR OF NHCDC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt03895
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 PROVIDE CONTRACTED MAINTENANCE SERVICES 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/StatesWhereCopyOfReturnIsFldCd0MI
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0762001
IRS990/TotalAssetsEOYAmt0732012
IRS990/TotalAssetsGrp/BOYAmt0762001
IRS990/TotalAssetsGrp/EOYAmt0732012
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt05632
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt069378
IRS990/TotalFunctionalExpensesGrp/TotalAmt075010
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01034761
IRS990/TotalLiabilitiesEOYAmt01030839
IRS990/TotalLiabilitiesGrp/BOYAmt01034761
IRS990/TotalLiabilitiesGrp/EOYAmt01030839
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-272760
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-298827
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt069378
IRS990/TotalProgramServiceRevenueAmt048924
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt019
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt048924
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt048943
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0762001
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0732012
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0824
IRS990/TravelGrp/TotalAmt0824
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/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JANE MACKENZIE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VICE PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02314482004
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-06-30
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/IRSResponsiblePrtyInfoCurrInd01
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/PreparationDt02023-07-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0AMBER RATHBUN CPA
ReturnHeader/ReturnTs02023-07-12T12:48:55-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JANE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MACKENZIE
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$732,012
Liabilities
$1,030,839
Net assets
-$298,827
Revenue
$48,943
Expenses
$75,010
Net income
-$26,067
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