Civic Intelligence

Troy Chamber of Commerce

990 • Fiscal year 2017 • EIN 38-1973921

Jan 01, 2017 to Dec 31, 2017 • Filed on Jun 14, 2018

Organization ProfileWWW.TROYCHAMBER.COM

View Organization Page

2125 Butterfield No 100NTroy, MI 48084

(248) 641-8151

Siviq Scores

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

Liabilities / Assets

78th percentile

0.34x

Higher debt load relative to assets than 78% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

72nd percentile

0.22x

Higher debt load relative to revenue than 72% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2017

Net Margin

40th percentile

1.1%

Higher net margin than 40% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

71st percentile

$105,910

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 22.3% of source-year revenue.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2017

Asset Growth

59th percentile

8.0%

Faster asset growth than 59% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

58th percentile

5.3%

Faster revenue growth than 58% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets78th percentile

Assets

Up

$316,923

Up $23,354 (+8.0%) from 2016

Net Assets

Up

$210,299

Up $5,419 (+2.6%) from 2016

Liabilities

Up

$106,624

Up $17,935 (+20%) from 2016

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin40th percentile

Revenue

Up

$474,958

Up $23,772 (+5.3%) from 2016

Expenses

Up

$469,539

Up $33,361 (+7.6%) from 2016

Net Income

Down

$5,419

Down $9,589 (-64%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth59th percentile

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

$800K$600K$400K$200K$0Assets 2011: $254,010Liabilities 2011: $80,505Net Assets 2011: $173,5052011Assets 2012: $266,867Liabilities 2012: $98,571Net Assets 2012: $168,2962012Assets 2013: $233,438Liabilities 2013: $61,232Net Assets 2013: $172,2062013Assets 2014: $272,491Liabilities 2014: $88,876Net Assets 2014: $183,6152014Assets 2015: $267,095Liabilities 2015: $77,223Net Assets 2015: $189,8722015Assets 2016: $293,569Liabilities 2016: $88,689Net Assets 2016: $204,8802016Assets 2017: $316,923Liabilities 2017: $106,624Net Assets 2017: $210,2992017Assets 2018: $307,488Liabilities 2018: $91,083Net Assets 2018: $216,4052018Assets 2019: $326,092Liabilities 2019: $80,397Net Assets 2019: $245,6952019Assets 2020: $414,115Liabilities 2020: $118,764Net Assets 2020: $295,3512020Assets 2021: $493,500Liabilities 2021: $147,214Net Assets 2021: $346,2862021Assets 2022: $484,880Liabilities 2022: $79,007Net Assets 2022: $405,8732022Assets 2023: $576,579Liabilities 2023: $172,968Net Assets 2023: $403,6112023Assets 2024: $600,885Liabilities 2024: $212,652Net Assets 2024: $388,2332024

Highlighted filing

2017

Assets$316,923
Liabilities$106,624
Net Assets$210,299
Open 2017 Filing

Operations Trend

Revenue Growth58th percentile

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

$600K$400K$200K$0-$200KRevenue 2011: $401,567Expenses 2011: $367,552Net Income 2011: $34,0152011Revenue 2012: $387,266Expenses 2012: $392,475Net Income 2012: -$5,2092012Revenue 2013: $383,927Expenses 2013: $380,017Net Income 2013: $3,9102013Revenue 2014: $398,518Expenses 2014: $387,109Net Income 2014: $11,4092014Revenue 2015: $431,599Expenses 2015: $425,342Net Income 2015: $6,2572015Revenue 2016: $451,186Expenses 2016: $436,178Net Income 2016: $15,0082016Revenue 2017: $474,958Expenses 2017: $469,539Net Income 2017: $5,4192017Revenue 2018: $473,548Expenses 2018: $467,442Net Income 2018: $6,1062018Revenue 2019: $464,377Expenses 2019: $435,087Net Income 2019: $29,2902019Revenue 2020: $496,771Expenses 2020: $447,115Net Income 2020: $49,6562020Revenue 2021: $488,997Expenses 2021: $438,062Net Income 2021: $50,9352021Revenue 2022: $530,542Expenses 2022: $470,955Net Income 2022: $59,5872022Revenue 2023: $483,914Expenses 2023: $485,695Net Income 2023: -$1,7812023Revenue 2024: $572,842Expenses 2024: $588,220Net Income 2024: -$15,3782024

Highlighted filing

2017

Revenue$474,958
Expenses$469,539
Net Income$5,419
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Jun 14, 2018
Return Version
2017v2.2
Gross Receipts
$541,962
Mission and Program Overview

Mission

To promote the general welfare of the commerical and industrial development and general interests of the city of troy and trade area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$106,226$152,155▲ $45,929
Savings and Temporary Cash Investments$147,233$124,947▼ $22,286
Land, Buildings, and Equipment, Net$25,931$22,686▼ $3,245
Accounts Receivable$8,418$10,726▲ $2,308
Prepaid Expenses and Deferred Charges$5,761$5,249▼ $512
Total Assets$293,569$316,923▲ $23,354
Other Assets Total$0$1,160▲ $1,160
Liabilities
Deferred Revenue$73,848$84,971▲ $11,123
Accounts Payable and Accrued Expenses$14,841$21,653▲ $6,812
Total Liabilities$88,689$106,624▲ $17,935
Net Assets / Fund Balance
Unrestricted Net Assets$204,756$209,835▲ $5,079
Temporarily Rstr Net Assets$124$464▲ $340
Total Net Assets Fund Balance$204,880$210,299▲ $5,419
Total Liabilities and Net Assets / Fund Balance$293,569$316,923▲ $23,354

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$17,926$34,898-
Leasehold Improvements$4,760$2,040-
Compensation and Service Providers
Top Officer Pay71st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ara TopouzianPresidentFT$105,910$105,910

Board Members and Trustees

NameTitle
Jill FeeneyChairman
Dave VanderploegImmediate Past Chair
Lisa BerdenVice Chairman
Christopher HengstebeckDirector
Dr Richard MacheskyDirector
Jane StehneyDirector
John YoungDirector
Joseph SorovetzDirector
Luanne Thomas EwaldDirector
Michael JaspersonDirector
Michael SemancoDirector
Philip MunroeDirector
Pradip SenguptaDirector
Shailesh DoshiDirector
Mark KruczekTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$319,623
Program Service Revenue
$70,055
Investment Income
$982
Other Revenue
$84,298
Change in Net Assets
$5,419
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$342,899
Other Expenses$126,640
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$63,555$254,218-$317,773
Occupancy-$29,739-$29,739
Pension Plan Contributions$5,025$20,101-$25,126
Information Technology-$17,741-$17,741
Advertising$15,950--$15,950
Depreciation Depletion-$15,427-$15,427
All Other Expenses$672$13,075-$13,747
Office Expenses-$5,695-$5,695
Fees for Services Accounting-$3,931-$3,931
Other Expenses$5,969$3,484-$3,484
Fees for Services Other$616$2,466-$3,082
Total Functional Expenses$91,787$377,752$0$469,539
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$151,302
Fundraising Direct Expenses$67,004
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraising Events$68,995$68,995$32,587$36,408
Tee Off Fore Troy$46,815$46,815$16,827$29,988
Total Events$151,302$151,302$67,004$84,298
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
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

“Form 990 as well as the financial statements are available upon request.”

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

“Employee manual is reviewed annually and hold employees to a high bar of integrity/ethics. Employees are made aware that the policy will be enforced.”

Form 990, Part VI, Section B, Line 15

“Compensation determination consists of a review of other chambers for comparability.”

Form 990, Part VI, Section C, Line 19

“Made available upon request”

Filing and Contact Details

Filer

Filer Name
Troy Chamber of Commerce
EIN
38-1973921
Phone
2486418151
Address
2125 BUTTERFIELD NO 100N, TROY, MI 48084

Signing Officer

Name
Peter Arvant
Title
Chair
Phone
2486419955
Signed
2018-06-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jill Feeney
Formed
1959
Legal Domicile
Mi
Voting Board Members
15
Independent Board Members
15
Employees
5
Volunteers
0

Preparer

Firm
Tobiasvandeputte & Skulskypc
Address
5455 CORPORATE DR 300, TROY, MI 48098-2620
Preparer
Craig S Skulsky
Phone
2486418400
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IRS990/OtherExpensesGrp/Desc1OTHER DIRECT COSTS - PR
IRS990/OtherExpensesGrp/Desc2TELEPHONE
IRS990/OtherExpensesGrp/Desc3OFFICE INSURANCE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt06858
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt15017
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt23484
IRS990/OtherExpensesGrp/ProgramServicesAmt05969
IRS990/OtherExpensesGrp/TotalAmt06858
IRS990/OtherExpensesGrp/TotalAmt15969
IRS990/OtherExpensesGrp/TotalAmt25017
IRS990/OtherExpensesGrp/TotalAmt33484
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0254218
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt063555
IRS990/OtherSalariesAndWagesGrp/TotalAmt0317773
IRS990/PartialLiquidationInd00
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt020101
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt05025
IRS990/PensionPlanContributionsGrp/TotalAmt025126
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt05761
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt05249
IRS990/PrincipalOfficerNm0JILL FEENEY
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0541800
IRS990/ProgramServiceRevenueGrp/BusinessCd1541800
IRS990/ProgramServiceRevenueGrp/Desc0ADVERTISING
IRS990/ProgramServiceRevenueGrp/Desc1NETWORK ACTIVITIES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt042130
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt127925
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt042130
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt127925
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0299479
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01372
IRS990/PYOtherExpensesAmt097012
IRS990/PYOtherRevenueAmt084427
IRS990/PYProgramServiceRevenueAmt065908
IRS990/PYRevenuesLessExpensesAmt015008
IRS990/PYSalariesCompEmpBnftPaidAmt0339166
IRS990/PYTotalExpensesAmt0436178
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0451186
IRS990/ReconcilationRevenueExpnssAmt05419
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0147233
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0124947
IRS990/ScheduleBRequiredInd00
IRS990ScheduleC/AgreeCarryoverPriorYearInd00
IRS990ScheduleC/OnlyInHouseLobbyingInd00
IRS990ScheduleC/SubstantiallyAllDuesNondedInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt017926
IRS990ScheduleD/EquipmentGrp/DepreciationAmt034898
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt052824
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt04760
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt02040
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt06800
IRS990ScheduleD/TotalBookValueLandBuildingsAmt022686
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt067004
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0TEE OFF FORE TROY
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0FUNDRAISING EVENTS
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt046815
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt068995
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt035492
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0151302
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt046815
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt068995
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt035492
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0151302
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt084298
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt017590
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt067004
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt016827
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt032587
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt03
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 AS WELL AS THE FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EMPLOYEE MANUAL IS REVIEWED ANNUALLY AND HOLD EMPLOYEES TO A HIGH BAR OF INTEGRITY/ETHICS. EMPLOYEES ARE MADE AWARE THAT THE POLICY WILL BE ENFORCED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION DETERMINATION CONSISTS OF A REVIEW OF OTHER CHAMBERS FOR COMPARABILITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MADE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd01
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0124
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0464
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0293569
IRS990/TotalAssetsEOYAmt0316923
IRS990/TotalAssetsGrp/BOYAmt0293569
IRS990/TotalAssetsGrp/EOYAmt0316923
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0319623
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0377752
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt091787
IRS990/TotalFunctionalExpensesGrp/TotalAmt0469539
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt088689
IRS990/TotalLiabilitiesEOYAmt0106624
IRS990/TotalLiabilitiesGrp/BOYAmt088689
IRS990/TotalLiabilitiesGrp/EOYAmt0106624
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0204880
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0210299
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt091787
IRS990/TotalProgramServiceRevenueAmt070055
IRS990/TotalReportableCompFromOrgAmt0105910
IRS990/TotalRevenueGrp/ExclusionAmt085280
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt070055
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0474958
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0293569
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0316923
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0204756
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0209835
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02125 BUTTERFIELD STE 100N
IRS990/USAddress/CityNm0TROY
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd048084
IRS990/VotingMembersGoverningBodyCnt015
IRS990/VotingMembersIndependentCnt015
IRS990/WebsiteAddressTxt0WWW.TROYCHAMBER.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0PETER ARVANT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$316,923
Liabilities
$106,624
Net assets
$210,299
Revenue
$474,958
Expenses
$469,539
Net income
$5,419
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.01$2.13$3.88$5.73$5.88$0.15
2023Detailed filing. Detailed filing data is available for this year.$5.77$1.73$4.04$4.84$4.86$0.02
2022Detailed filing. Detailed filing data is available for this year.$4.85$0.79$4.06$5.31$4.71$0.60
2021Detailed filing. Detailed filing data is available for this year.$4.94$1.47$3.46$4.89$4.38$0.51
2020Detailed filing. Detailed filing data is available for this year.$4.14$1.19$2.95$4.97$4.47$0.50
2019Detailed filing. Detailed filing data is available for this year.$3.26$0.80$2.46$4.64$4.35$0.29
2018Detailed filing. Detailed filing data is available for this year.$3.07$0.91$2.16$4.74$4.67$0.06
2017Detailed filing. Detailed filing data is available for this year.$3.17$1.07$2.10$4.75$4.70$0.05
2016Detailed filing. Detailed filing data is available for this year.$2.94$0.89$2.05$4.51$4.36$0.15
2015Detailed filing. Detailed filing data is available for this year.$2.67$0.77$1.90$4.32$4.25$0.06
2014Detailed filing. Detailed filing data is available for this year.$2.72$0.89$1.84$3.99$3.87$0.11
2013Detailed filing. Detailed filing data is available for this year.$2.33$0.61$1.72$3.84$3.80$0.04
2012Summary only. Only limited summary data is available for this year.$2.67$0.99$1.68$3.87$3.92$0.05
2011Summary only. Only limited summary data is available for this year.$2.54$0.81$1.74$4.02$3.68$0.34