Civic Intelligence

M-2 Rail

990 • Fiscal year 2016 • EIN 30-0783442

Oct 01, 2015 to Sep 30, 2016 • Filed on May 24, 2017

Organization ProfileQLINEDETROIT.COM

Refreshing map…

7520 Woodward AvenueDetroit, MI 48202-2807

(313) 528-3044

Siviq Scores

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

Liabilities / Assets

74th percentile

0.64x

Higher debt load relative to assets than 74% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Liabilities / Revenue

91st percentile

4.94x

Higher debt load relative to revenue than 91% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Net Margin

99th percentile

94%

Higher net margin than 99% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Top Officer Pay

2nd percentile

$0

Higher top officer pay than 2% of similar nonprofits.

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

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Asset Growth

97th percentile

56%

Faster asset growth than 97% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Revenue Growth

20th percentile

-9.0%

Faster revenue growth than 20% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets74th percentile

Assets

Up

$147,710,288

Up $52,946,793 (+56%) from 2015

Net Assets

Up

$53,399,174

Up $18,039,854 (+51%) from 2015

Liabilities

Up

$94,311,114

Up $34,906,939 (+59%) from 2015

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin99th percentile

Revenue

Down

$19,099,233

Down $1,894,599 (-9.0%) from 2015

Expenses

Up

$1,059,379

Up $326,611 (+45%) from 2015

Net Income

Down

$18,039,854

Down $2,221,210 (-11%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$200M$150M$100M$50M$0Assets 2015: $94,763,495Liabilities 2015: $59,404,175Net Assets 2015: $35,359,3202015Assets 2016: $147,710,288Liabilities 2016: $94,311,114Net Assets 2016: $53,399,1742016Assets 2017: $154,973,512Liabilities 2017: $100,104,253Net Assets 2017: $54,869,2592017Assets 2019: $136,753,928Liabilities 2019: $92,634,805Net Assets 2019: $44,119,1232019Assets 2020: $128,856,688Liabilities 2020: $91,242,782Net Assets 2020: $37,613,9062020Assets 2021: $122,137,270Liabilities 2021: $90,975,280Net Assets 2021: $31,161,9902021Assets 2022: $116,029,354Liabilities 2022: $49,317,246Net Assets 2022: $66,712,1082022

Highlighted filing

2016

Assets$147,710,288
Liabilities$94,311,114
Net Assets$53,399,174
Open 2016 Filing

Operations Trend

Revenue Growth20th percentile

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

$60M$40M$20M$0-$20MRevenue 2015: $20,993,832Expenses 2015: $732,768Net Income 2015: $20,261,0642015Revenue 2016: $19,099,233Expenses 2016: $1,059,379Net Income 2016: $18,039,8542016Revenue 2017: $5,250,721Expenses 2017: $3,780,636Net Income 2017: $1,470,0852017Revenue 2019: $3,101,011Expenses 2019: $7,066,363Net Income 2019: -$3,965,3522019Revenue 2020: $410,460Expenses 2020: $6,915,677Net Income 2020: -$6,505,2172020Revenue 2021: $410,027Expenses 2021: $6,861,943Net Income 2021: -$6,451,9162021Revenue 2022: $41,676,501Expenses 2022: $6,126,383Net Income 2022: $35,550,1182022

Highlighted filing

2016

Revenue$19,099,233
Expenses$1,059,379
Net Income$18,039,854
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2015 to Sep 30, 2016
Signed
May 24, 2017
Return Version
2015v3.0
Gross Receipts
$19,099,233
Mission and Program Overview

Mission

To support m-1 rail in the planning, design, construction, acquisition, and operation of a public transportation facility in the city of detroit, michigan.

To support and carry out the exempt purposes of m-1 rail, a michigan nonprofit corporation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$52,009,754$108,433,242▲ $56,423,488
Cash and Non-Interest-Bearing Accounts$9,643,757$15,417,924▲ $5,774,167
Pledges and Grants Receivable$8,233,459$14,147,290▲ $5,913,831
Accounts Receivable$14,653,369$8,019,618▼ $6,633,751
Savings and Temporary Cash Investments$9,341,447$812,374▼ $8,529,073
Prepaid Expenses and Deferred Charges-$142,098-
Total Assets$94,763,495$147,710,288▲ $52,946,793
Other Assets Total$881,709$737,742▼ $143,967
Liabilities
Mortgage Notes Payable Secured by Investment Property$41,353,000$41,353,000→ $0
Accounts Payable and Accrued Expenses$15,622,173$28,089,728▲ $12,467,555
Other Liabilities$2,429,002$24,673,909▲ $22,244,907
Deferred Revenue-$194,477-
Total Liabilities$59,404,175$94,311,114▲ $34,906,939
Net Assets / Fund Balance
Unrestricted Net Assets$35,359,320$53,399,174▲ $18,039,854
Total Net Assets Fund Balance$35,359,320$53,399,174▲ $18,039,854
Total Liabilities and Net Assets / Fund Balance$94,763,495$147,710,288▲ $52,946,793

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$107,326,235-$107,326,235
Land$1,107,007-$1,107,007
Compensation and Service Providers
Top Officer Pay2nd percentile

Board Members and Trustees

NameTitle
Matthew P CullenChair and Director
Paul ChildsPresident and C.e.o.
Roger S PenskeVice-chair and Director
Jenilyn NormanVice-president and C.f.o.
Daniel B GilbertDirector
George W Jackson JrDirector
Richard RapsonDirector
Sommer WoodsAssistant Secretary
David BlaskiewiczSecretary
Paul TrulikTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Stacy And Witbeck INCConstruction Management2800 HARBOR BAY PARKWAY, Alameda, CA 94502-3040$46,104,922
Hntb Michigan INCOwner's Representative535 GRISWOLD SUITE 1100, Detroit, MI 48226-3605$6,441,087
Turner Construction CompanyConstruction Management535 GRISWOLD SUITE 1525, Detroit, MI 48226-3696$4,243,909
Brookville Equipment CorporationStreetcar Manufacturer175 EVANS STREET, Brookville, PA 15825-9411$3,050,883
Aecom Great LakesEngineering10850 TRAVERSE HIGHWAY, Traverse City, MI 49684-1363$1,872,333
Revenue and Support

Revenue Composition

Contributions and Grants
$16,862,279
Program Service Revenue
$2,231,674
Investment Income
$5,280
Other Revenue
$0
Change in Net Assets
$18,039,854

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table4$277,871Cost
Total Noncash Contributions4$277,871-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,059,379
Total Fundraising Expense$7,198
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$902,879--$902,879
Depreciation Depletion$122,372$14,397$7,198$143,967
All Other Expenses$9,733--$9,733
Fees for Services Accounting$2,800--$2,800
Total Functional Expenses$1,037,784$14,397$7,198$1,059,379
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
Advance From Affiliate$24,673,909
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Daniel b. Gilbert is the chair of quicken loans, inc., and matthew p. Cullen is a principal of rock ventures llc and chief executive officer of jack entertainment, llc, both of which are affiliates of quicken loans, inc. Various directors and officers also serve together on the boards of directors of various other non-profit organizations in the metropolitan detroit area, including m-1 rail, the supported organization.”

Form 990, Part VI, Section B, Line 11

“The organization hired a public accounting firm to prepare form 990. The chief financial officer reviewed the return prior to distributing a draft copy to the treasurer and audit and finance committee members for their review. Comments from these individuals were reviewed and appropriately incorporated into the final form 990 that was filed. A final copy of form 990 was provided to each board member via e-mail prior to filing for their information.”

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

“The conflict of interest policy is provided to the applicable parties annually. In addition, directors and officers sign an acknowledgment statement and provide information regarding potential conflicts on the annual form. Management reviews the disclosures, and follows up, if necessary.”

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
M-2 Rail
EIN
30-0783442
Phone
3135283044
Address
7520 WOODWARD AVENUE, DETROIT, MI 48202-2807

Signing Officer

Name
Jenilyn Norman
Title
Chief Financial Officer
Phone
3135283044
Signed
2017-05-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jenilyn Norman
Formed
2013
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
6

Preparer

Firm
George Johnson & Company
Address
1200 BUHL BUILDING 535 GRISWOLD, DETROIT, MI 48226-3689
Preparer
Michael R Nicholas
Phone
3139652655
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Other professional fees: program service expenses 902,879. Management and general expenses 0. Fundraising expenses 0. Total expenses 902,879.”

Financial Statement Notes

PART X, LINE 2:

“M-1 rail has been recognized as a not-for-profit organization exempt from income taxes under section 501(c)(3) of the internal revenue code (irc) and is a publicly supported organization under irc section 509(a)(1). M-2 rail has been recognized as a not-for-profit organization exempt from income taxes under section 501(c)(3) of irc and is classified as a type 2 supporting organization to m-1 rail under irc section 509(a)(3). Although m-1 rail and m-2 rail were granted income tax exemption by the internal revenue service, such exemption does not apply to "unrelated business taxable income." at september 30, 2016 and 2015, the organization has determined that no unrelated business income taxes are due for its activities. Accordingly, no provision for income taxes has been recorded in the accompanying consolidated financial statements. Management annually reviews its tax positions and has determined that there are no material uncertain tax positions that require recognition in the consolidated financial statements. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. Management believes it is no longer subject to income tax examinations for years prior to september 30, 2012.”

Raw XML AppendixShowing 400 of 484 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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IRS990/InfoInScheduleOPartVIInd0X
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IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO SUPPORT M-1 RAIL IN THE PLANNING, DESIGN, CONSTRUCTION, ACQUISITION, AND OPERATION OF A PUBLIC TRANSPORTATION FACILITY IN THE CITY OF DETROIT, MICHIGAN.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt041353000
IRS990/NetAssetsOrFundBalancesBOYAmt035359320
IRS990/NetAssetsOrFundBalancesEOYAmt053399174
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NoncashContributionsAmt0277871
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0881709
IRS990/OtherAssetsTotalGrp/EOYAmt0737742
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherLiabilitiesGrp/BOYAmt02429002
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IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt08233459
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt014147290
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0142098
IRS990/PrincipalOfficerNm0JENILYN NORMAN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0230000
IRS990/ProgramServiceRevenueGrp/Desc0FEES FOR SERVICES
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02231674
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt016120462
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt07744
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IRS990/PYOtherRevenueAmt00
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IRS990/PYRevenuesLessExpensesAmt020261064
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0732768
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt020993832
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt018039854
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt0277871
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02231674
IRS990/SavingsAndTempCashInvstGrp/BOYAmt09341447
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0812374
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0M-2 RAIL HAS A CLOSE CONNECTION WITH M-1 RAIL, THE SUPPORTED ORGANIZATION. THE FIVE-MEMBER BOARD OF DIRECTORS OF M-2 RAIL IS COMPRISED OF PERSONS WHO COMPRISE THE MAJORITY OF THE EXECUTIVE COMMITTEE OF M-1 RAIL, WHICH HAS SIX MEMBERS. TWO ADDITIONAL M-1 RAIL DIRECTORS SERVE AS OFFICERS TO M-2 RAIL. M-1 RAIL HAS 14 TOTAL DIRECTORS, OF WHICH SEVEN REPRESENT M-2 RAIL IN SOME CAPACITY. MATTHEW P. CULLEN IS THE PRESIDENT AND C.E.O. OF M-1 RAIL AND THE CHAIR OF M-2 RAIL. PAUL CHILDS IS THE VICE-PRESIDENT, C.O.O., AND ASSISTANT SECRETARY OF M-1 RAIL AND THE PRESIDENT AND C.E.O. OF M-2 RAIL. CERTAIN OFFICERS OF M-2 RAIL (PAUL CHILDS, JENILYN NORMAN, WHO IS THE C.F.O. OF M-2 RAIL, AND SOMMER WOODS, WHO IS THE ASSISTANT SECRETARY OF M-2 RAIL) WORK FULL-TIME OVERSEEING THE ACTIVITIES OF BOTH M-1 RAIL AND M-2 RAIL. THE MANAGEMENT OF BOTH ORGANIZATIONS IS VESTED IN THESE INDIVIDUALS. THE INDIVIDUAL BOARDS OF M-1 RAIL AND M-2 RAIL HAVE OVERSIGHT RESPONSIBILITY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0FORM 990, SCHEDULE A, PART IV, SECTION C:
IRS990ScheduleA/IRSWrittenDeterminationInd0X
IRS990ScheduleA/MajorityDirTrstSupportedOrgInd00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0262310566
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd07
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0277871
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0M-1 RAIL
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType2Ind0X
IRS990ScheduleA/SupportSumAmt0277871
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt01107007
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01107007
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0107326235
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0107326235
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt024673909
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ADVANCE FROM AFFILIATE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0M-1 RAIL HAS BEEN RECOGNIZED AS A NOT-FOR-PROFIT ORGANIZATION EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND IS A PUBLICLY SUPPORTED ORGANIZATION UNDER IRC SECTION 509(A)(1). M-2 RAIL HAS BEEN RECOGNIZED AS A NOT-FOR-PROFIT ORGANIZATION EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF IRC AND IS CLASSIFIED AS A TYPE 2 SUPPORTING ORGANIZATION TO M-1 RAIL UNDER IRC SECTION 509(A)(3). ALTHOUGH M-1 RAIL AND M-2 RAIL WERE GRANTED INCOME TAX EXEMPTION BY THE INTERNAL REVENUE SERVICE, SUCH EXEMPTION DOES NOT APPLY TO "UNRELATED BUSINESS TAXABLE INCOME." AT SEPTEMBER 30, 2016 AND 2015, THE ORGANIZATION HAS DETERMINED THAT NO UNRELATED BUSINESS INCOME TAXES ARE DUE FOR ITS ACTIVITIES. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. MANAGEMENT ANNUALLY REVIEWS ITS TAX POSITIONS AND HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO SEPTEMBER 30, 2012.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0108433242
IRS990ScheduleD/TotalLiabilityAmt024673909
IRS990/ScheduleJRequiredInd00
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/Form8283ReceivedCnt00
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt04
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0STREETCAR
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt0COST
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd0X
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt0277871
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd00
IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0CONSISTS OF STREETCAR PROJECT, PLANNING, ENGINEERING, AND DESIGN
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, COLUMN (B):
IRS990ScheduleM/ThirdPartiesUsedInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DANIEL B. GILBERT IS THE CHAIR OF QUICKEN LOANS, INC., AND MATTHEW P. CULLEN IS A PRINCIPAL OF ROCK VENTURES LLC AND CHIEF EXECUTIVE OFFICER OF JACK ENTERTAINMENT, LLC, BOTH OF WHICH ARE AFFILIATES OF QUICKEN LOANS, INC. VARIOUS DIRECTORS AND OFFICERS ALSO SERVE TOGETHER ON THE BOARDS OF DIRECTORS OF VARIOUS OTHER NON-PROFIT ORGANIZATIONS IN THE METROPOLITAN DETROIT AREA, INCLUDING M-1 RAIL, THE SUPPORTED ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HIRED A PUBLIC ACCOUNTING FIRM TO PREPARE FORM 990. THE CHIEF FINANCIAL OFFICER REVIEWED THE RETURN PRIOR TO DISTRIBUTING A DRAFT COPY TO THE TREASURER AND AUDIT AND FINANCE COMMITTEE MEMBERS FOR THEIR REVIEW. COMMENTS FROM THESE INDIVIDUALS WERE REVIEWED AND APPROPRIATELY INCORPORATED INTO THE FINAL FORM 990 THAT WAS FILED. A FINAL COPY OF FORM 990 WAS PROVIDED TO EACH BOARD MEMBER VIA E-MAIL PRIOR TO FILING FOR THEIR INFORMATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST POLICY IS PROVIDED TO THE APPLICABLE PARTIES ANNUALLY. IN ADDITION, DIRECTORS AND OFFICERS SIGN AN ACKNOWLEDGMENT STATEMENT AND PROVIDE INFORMATION REGARDING POTENTIAL CONFLICTS ON THE ANNUAL FORM. MANAGEMENT REVIEWS THE DISCLOSURES, AND FOLLOWS UP, IF NECESSARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 902,879. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 902,879.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd01
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0M-1 RAIL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0262310566
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0DEVELOP PUBLIC TRANSPORTATION SYSTEM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt07520 WOODWARD AVENUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0DETROIT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd0482022807
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt022244907
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1277871
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH LOANED
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1COST
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0M-1 RAIL
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1M-1 RAIL

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$147,710,288
Liabilities
$94,311,114
Net assets
$53,399,174
Revenue
$19,099,233
Expenses
$1,059,379
Net income
$18,039,854
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$116$49.3$66.7$41.7$6.13$35.6
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$122$91.0$31.2$0.41$6.86$6.45
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$129$91.2$37.6$0.41$6.92$6.51
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$137$92.6$44.1$3.10$7.07$3.97
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$155$100$54.9$5.25$3.78$1.47
2016Detailed filing. Detailed filing data is available for this year.$148$94.3$53.4$19.1$1.06$18.0
2015Detailed filing. Detailed filing data is available for this year.$94.8$59.4$35.4$21.0$0.73$20.3
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)3 • $100M-$250M nonprofits