Civic Intelligence

Bay Future Inc.

990 • Fiscal year 2017 • EIN 30-0274225

Jan 01, 2017 to Dec 31, 2017 • Filed on Feb 10, 2018

721 Washington Avenue No 309Bay City, MI 48708-5724

(989) 892-1400

Siviq Scores

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

Liabilities / Assets

79th percentile

0.12x

Higher debt load relative to assets than 79% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

76th percentile

0.05x

Higher debt load relative to revenue than 76% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

79th percentile

23%

Higher net margin than 79% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

97th percentile

$87,942

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 20.4% of source-year revenue.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

94th percentile

163%

Faster asset growth than 94% of similar nonprofits.

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

Revenue Growth

48th percentile

0.2%

Faster revenue growth than 48% of similar nonprofits.

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

Assets

Up

$164,250

Up $101,784 (+163%) from 2016

Net Assets

Up

$143,747

Up $99,713 (+226%) from 2016

Liabilities

Up

$20,503

Up $2,071 (+11%) from 2016

Revenue

Up

$430,491

Up $675 (+0.2%) from 2016

Expenses

Down

$330,778

Down $128,891 (-28%) from 2016

Net Income

Up

$99,713

Up $129,566 (+434%) from 2016

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MAssets 2010: $50,114Liabilities 2010: $62,309Net Assets 2010: -$12,1952010Assets 2011: $94,093Liabilities 2011: $81,765Net Assets 2011: $12,3282011Assets 2012: $119,875Liabilities 2012: $81,774Net Assets 2012: $38,1012012Assets 2013: $98,660Liabilities 2013: $10,529Net Assets 2013: $88,1312013Assets 2014: $209,626Liabilities 2014: $2,886Net Assets 2014: $206,7402014Assets 2015: $77,495Liabilities 2015: $3,608Net Assets 2015: $73,8872015Assets 2016: $62,466Liabilities 2016: $18,432Net Assets 2016: $44,0342016Assets 2017: $164,250Liabilities 2017: $20,503Net Assets 2017: $143,7472017Assets 2018: $235,393Liabilities 2018: $4,326Net Assets 2018: $231,0672018Assets 2019: $1,298,163Liabilities 2019: $6,853Net Assets 2019: $1,291,3102019Assets 2020: $1,187,717Liabilities 2020: $16,773Net Assets 2020: $1,170,9442020Assets 2022: $1,152,121Liabilities 2022: $26,024Net Assets 2022: $1,126,0972022Assets 2024: $3,446,273Liabilities 2024: $158,438Net Assets 2024: $3,287,8352024

Highlighted filing

2017

Assets$164,250
Liabilities$20,503
Net Assets$143,747

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $246,8562010Expenses 2011: $221,8222011Expenses 2012: $221,4902012Revenue 2013: $251,079Expenses 2013: $201,049Net Income 2013: $50,0302013Revenue 2014: $272,061Expenses 2014: $153,452Net Income 2014: $118,6092014Revenue 2015: $247,580Expenses 2015: $380,433Net Income 2015: -$132,8532015Revenue 2016: $429,816Expenses 2016: $459,669Net Income 2016: -$29,8532016Revenue 2017: $430,491Expenses 2017: $330,778Net Income 2017: $99,7132017Revenue 2018: $416,312Expenses 2018: $328,992Net Income 2018: $87,3202018Revenue 2019: $1,509,356Expenses 2019: $449,113Net Income 2019: $1,060,2432019Revenue 2020: $1,226,452Expenses 2020: $652,213Net Income 2020: $574,2392020Revenue 2022: $1,923,474Expenses 2022: $1,951,198Net Income 2022: -$27,7242022Revenue 2024: $2,915,083Expenses 2024: $643,197Net Income 2024: $2,271,8862024

Highlighted filing

2017

Revenue$430,491
Expenses$330,778
Net Income$99,713
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Feb 10, 2018
Return Version
2017v2.2
Gross Receipts
$430,491
Mission and Program Overview

Mission

Dedicated to facilitating economic development strategies that promote and secure opportunities for business retention, growth, and the attraction of new industries that create quality jobs for community residents.

To strengthen the economic environment in bay county by supporting existing business, nurturing growth, & promoting stability in the market place.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$46,629$145,739▲ $99,110
Accounts Receivable$5,298$11,300▲ $6,002
Land, Buildings, and Equipment, Net$8,480$6,461▼ $2,019
Prepaid Expenses and Deferred Charges$2,059$750▼ $1,309
Total Assets$62,466$164,250▲ $101,784
Liabilities
Deferred Revenue$15,000$18,350▲ $3,350
Accounts Payable and Accrued Expenses$3,432$2,153▼ $1,279
Total Liabilities$18,432$20,503▲ $2,071
Net Assets / Fund Balance
Unrestricted Net Assets$44,034$143,747▲ $99,713
Total Net Assets Fund Balance$44,034$143,747▲ $99,713
Total Liabilities and Net Assets / Fund Balance$62,466$164,250▲ $101,784

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,461$7,502-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Trevor KeyesPresident/CEOFT$87,942$87,942

Board Members and Trustees

NameTitle
Mitzi DimitroffChairman
Tim RokoszImmediate Past Chair
Dave ReitzelSenior Vice Chair
Wayne HofmannSenior Vice Chair
Kerice BasmadjianVice Chair
Michael DuranczykVice Chair
Ryan TarrantVice Chair
Clarence SevillianBoard Member
Don ScherzerBoard Member
Gary RiedlingerBoard Member
Gavin GoetzBoard Member
Jennifer AcostaBoard Member
Kristen WenzelBoard Member
Laurie BushBoard Member
Lee KilbournBoard Member
Leslie ThompsonBoard Member
Mark BauerBoard Member
Mary KulisBoard Member
Mike DeboBoard Member
Pedro SantosBoard Member
Ron CampbellBoard Member
Dana MuscottEx-officio Board Member
Jim BarciaEx-officio Board Member
Larry EhrlingerSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$430,491
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$99,713
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$227,488
Other Expenses$103,290
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$194,534--$194,534
Other Employee Benefits$17,043--$17,043
Payroll Taxes$15,911--$15,911
Advertising$14,386--$14,386
Office Expenses$13,209--$13,209
Occupancy$9,000--$9,000
Conferences and Meetings$8,829--$8,829
Travel$7,604--$7,604
Fees for Services Legal$6,450--$6,450
All Other Expenses$5,170--$5,170
Fees for Services Accounting$3,600--$3,600
Insurance$2,975--$2,975
Other Expenses$2,647--$2,647
Depreciation Depletion$2,019--$2,019
Total Functional Expenses$330,778$0$0$330,778
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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, Part VI, Section B, Line 11B

The executive board of the board of directors receives a copy of the irs form 990 for review and approval. The executive board works with managment regarding any changes. Upon approval,the form 990 is then filed with the irs.

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

The organization is small so the president is able to monitor the activities of all individuals subject to the conflict of interest policy and is able to make sure everyone completes the required annual disclosure.

Form 990, Part VI, Section B, Line 15

The board of directors reviews and approves the salary of the president. The board of directors approves the salaries for all other employees.

Form 990, Part VI, Section C, Line 19

Bay future, inc. Provides its governing documents, policies, tax returns and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Bay Future Inc
EIN
30-0274225
Phone
9898921400
Address
721 WASHINGTON AVENUE NO 309, BAY CITY, MI 48708-5724

Signing Officer

Name
Trevor Keyes
Title
President and CEO
Phone
9898921400
Signed
2018-02-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Trevor Keyes
Formed
2004
Legal Domicile
Mi
Voting Board Members
25
Independent Board Members
24
Employees
5
Volunteers
0

Preparer

Firm
Weinlander Fitzhugh Pc
Address
1600 CENTER AVE, BAY CITY, MI 48708
Preparer
Corinna Scharf CPA
Phone
9898935577
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The board of directors reviews the financial statements and accepts them. The board of directors chooses the accounting firm. This process is not changed from prior years.

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt220
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt230
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt240
IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt1EX-OFFICIO BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt8VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt9SECRETARY/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11SENIOR VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14SENIOR VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt15EX-OFFICIO BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16IMMEDIATE PAST CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt19BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt20VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt21BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt22BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt23BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt24PRESIDENT/CEO
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02004
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt025
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0430491
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt024
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/ProgramServicesAmt02975
IRS990/InsuranceGrp/TotalAmt02975
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt02
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt07502
IRS990/LandBldgEquipBasisNetGrp/BOYAmt08480
IRS990/LandBldgEquipBasisNetGrp/EOYAmt06461
IRS990/LandBldgEquipCostOrOtherBssAmt013963
IRS990/LegalDomicileStateCd0MI
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0DEDICATED TO FACILITATING ECONOMIC DEVELOPMENT STRATEGIES THAT PROMOTE AND SECURE OPPORTUNITIES FOR BUSINESS RETENTION, GROWTH, AND THE ATTRACTION OF NEW INDUSTRIES THAT CREATE QUALITY JOBS FOR COMMUNITY RESIDENTS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt044034
IRS990/NetAssetsOrFundBalancesEOYAmt0143747
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt09000
IRS990/OccupancyGrp/TotalAmt09000
IRS990/OfficeExpensesGrp/ProgramServicesAmt013209
IRS990/OfficeExpensesGrp/TotalAmt013209
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt017043
IRS990/OtherEmployeeBenefitsGrp/TotalAmt017043
IRS990/OtherExpensesGrp/Desc0GREAT LAKES BAY PARTNER
IRS990/OtherExpensesGrp/Desc1BAD DEBT
IRS990/OtherExpensesGrp/Desc2TELEPHONE
IRS990/OtherExpensesGrp/Desc3DUES AND PUBLICATIONS
IRS990/OtherExpensesGrp/ProgramServicesAmt014012
IRS990/OtherExpensesGrp/ProgramServicesAmt19730
IRS990/OtherExpensesGrp/ProgramServicesAmt23659
IRS990/OtherExpensesGrp/ProgramServicesAmt32647
IRS990/OtherExpensesGrp/TotalAmt014012
IRS990/OtherExpensesGrp/TotalAmt19730
IRS990/OtherExpensesGrp/TotalAmt23659
IRS990/OtherExpensesGrp/TotalAmt32647
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0194534
IRS990/OtherSalariesAndWagesGrp/TotalAmt0194534
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt015911
IRS990/PayrollTaxesGrp/TotalAmt015911
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02059
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0750
IRS990/PrincipalOfficerNm0TREVOR KEYES
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0561499
IRS990/ProgramServiceRevenueGrp/BusinessCd1561499
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/BusinessCd3900099
IRS990/ProgramServiceRevenueGrp/Desc0PRIVATE SECTOR
IRS990/ProgramServiceRevenueGrp/Desc1PUBLIC SECTOR
IRS990/ProgramServiceRevenueGrp/Desc2OTHER
IRS990/ProgramServiceRevenueGrp/Desc3GRANTS & SPECIAL PROJE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0265177
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1153800
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt26314
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt35200
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0265177
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1153800
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt26314
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt35200
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0136364
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0429816
IRS990/PYRevenuesLessExpensesAmt0-29853
IRS990/PYSalariesCompEmpBnftPaidAmt0248805
IRS990/PYTotalExpensesAmt0459669
IRS990/PYTotalProfFndrsngExpnsAmt074500
IRS990/PYTotalRevenueAmt0429816
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt099713
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0430491
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0430491
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0410808
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0415494
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0253181
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0240604
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01750578
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct01.00000
IRS990ScheduleA/PublicSupportPY509Pct01.00000
IRS990ScheduleA/PublicSupportTotal509Amt01750578
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0430491
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0410808
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0415494
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0253181
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0240604

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.45$0.16$3.29$2.92$0.64$2.27
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.15$0.03$1.13$1.92$1.95$0.03
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.19$0.02$1.17$1.23$0.65$0.57
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.30$0.01$1.29$1.51$0.45$1.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.24$0.00$0.23$0.42$0.33$0.09
2017Detailed filing. Detailed filing data is available for this year.$0.16$0.02$0.14$0.43$0.33$0.10
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.06$0.02$0.04$0.43$0.46$0.03
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.08$0.00$0.07$0.25$0.38$0.13
2014Detailed filing. Detailed filing data is available for this year.$0.21$0.00$0.21$0.27$0.15$0.12
2013Detailed filing. Detailed filing data is available for this year.$0.10$0.01$0.09$0.25$0.20$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.12$0.08$0.04$0.22
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.09$0.08$0.01$0.22
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.05$0.06$0.01$0.25