Civic Intelligence

Troy Chamber of Commerce

990 • Fiscal year 2018 • EIN 38-1973921

Jan 01, 2018 to Dec 31, 2018 • Filed on Jun 16, 2019

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

75th percentile

0.30x

Higher debt load relative to assets than 75% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

69th percentile

0.19x

Higher debt load relative to revenue than 69% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Net Margin

41st percentile

1.3%

Higher net margin than 41% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

76th percentile

$114,907

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 24.3% of source-year revenue.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Asset Growth

31st percentile

-3.0%

Faster asset growth than 31% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

39th percentile

-0.3%

Faster revenue growth than 39% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Assets

Down

$307,488

Down $9,435 (-3.0%) from 2017

Net Assets

Up

$216,405

Up $6,106 (+2.9%) from 2017

Liabilities

Down

$91,083

Down $15,541 (-15%) from 2017

Revenue

Down

$473,548

Down $1,410 (-0.3%) from 2017

Expenses

Down

$467,442

Down $2,097 (-0.4%) from 2017

Net Income

Up

$6,106

Up $687 (+13%) from 2017

Historical Trend

Balance Sheet Trend

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

2018

Assets$307,488
Liabilities$91,083
Net Assets$216,405

Operations Trend

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

2018

Revenue$473,548
Expenses$467,442
Net Income$6,106
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jun 16, 2019
Return Version
2018v3.1
Gross Receipts
$541,721
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$152,155$147,188▼ $4,967
Savings and Temporary Cash Investments$124,947$125,658▲ $711
Accounts Receivable$10,726$15,092▲ $4,366
Land, Buildings, and Equipment, Net$22,686$13,060▼ $9,626
Prepaid Expenses and Deferred Charges$5,249$6,490▲ $1,241
Intangible Assets$0$0→ $0
Total Assets$316,923$307,488▼ $9,435
Other Assets Total$1,160$0▼ $1,160
Liabilities
Deferred Revenue$84,971$70,346▼ $14,625
Accounts Payable and Accrued Expenses$21,653$20,737▼ $916
Total Liabilities$106,624$91,083▼ $15,541
Net Assets / Fund Balance
Unrestricted Net Assets$209,835$216,177▲ $6,342
Temporarily Rstr Net Assets$464$228▼ $236
Total Net Assets Fund Balance$210,299$216,405▲ $6,106
Total Liabilities and Net Assets / Fund Balance$316,923$307,488▼ $9,435

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$8,753$44,213-
Leasehold Improvements$4,307$2,493-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Ara TopouzianPresidentFT$114,907$114,907

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$320,796
Program Service Revenue
$69,143
Investment Income
$937
Other Revenue
$82,672
Change in Net Assets
$6,106
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$354,552
Other Expenses$112,890
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$65,781$263,126-$328,907
Occupancy-$30,641-$30,641
Payroll Taxes$5,129$20,516-$25,645
Advertising$17,868--$17,868
All Other Expenses$542$9,832-$10,374
Depreciation Depletion-$9,931-$9,931
Information Technology-$8,656-$8,656
Office Expenses-$7,047-$7,047
Fees for Services Accounting-$4,435-$4,435
Other Expenses$6,219$3,421-$3,421
Fees for Services Other$639$2,555-$3,194
Total Functional Expenses$96,178$371,264$0$467,442
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$150,737
Fundraising Direct Expenses$68,065
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraising Events$68,527$68,527$32,105$36,422
Tee Off Fore Troy$49,980$49,980$19,746$30,234
Total Events$150,737$150,737$68,065$82,672
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
No
Annual disclosure for covered persons
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
Mark Kruczek
Title
Chair
Phone
2486419955
Signed
2019-06-16
Discuss with paid preparer
Yes

Organization Details

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

Preparer

Firm
Gordon Advisors Pc
Address
1301 W LONG LAKE ROAD STE 200, TROY, MI 48098
Preparer
Craig S Skulsky
Phone
2489520200
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IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-108
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt082672
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt082672
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt030641
IRS990/OccupancyGrp/TotalAmt030641
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt07047
IRS990/OfficeExpensesGrp/TotalAmt07047
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01160
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0OTHER DIRECT COSTS - PR
IRS990/OtherExpensesGrp/Desc1BANK FEES
IRS990/OtherExpensesGrp/Desc2TELEPHONE
IRS990/OtherExpensesGrp/Desc3OFFICE INSURANCE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt06061
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt15043
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt23421
IRS990/OtherExpensesGrp/ProgramServicesAmt06219
IRS990/OtherExpensesGrp/TotalAmt06219
IRS990/OtherExpensesGrp/TotalAmt16061
IRS990/OtherExpensesGrp/TotalAmt25043
IRS990/OtherExpensesGrp/TotalAmt33421
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0263126
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt065781
IRS990/OtherSalariesAndWagesGrp/TotalAmt0328907
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt020516
IRS990/PayrollTaxesGrp/ProgramServicesAmt05129
IRS990/PayrollTaxesGrp/TotalAmt025645
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt05249
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt06490
IRS990/PrincipalOfficerNm0MARK KRUCZEK
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0541800
IRS990/ProgramServiceRevenueGrp/BusinessCd1541800
IRS990/ProgramServiceRevenueGrp/Desc0ADVERTISING
IRS990/ProgramServiceRevenueGrp/Desc1NETWORK ACTIVITIES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt044273
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt124870
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt044273
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt124870
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0319623
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0982
IRS990/PYOtherExpensesAmt0126640
IRS990/PYOtherRevenueAmt084298
IRS990/PYProgramServiceRevenueAmt070055
IRS990/PYRevenuesLessExpensesAmt05419
IRS990/PYSalariesCompEmpBnftPaidAmt0342899
IRS990/PYTotalExpensesAmt0469539
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0474958
IRS990/ReconcilationRevenueExpnssAmt06106
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0124947
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0125658
IRS990/ScheduleBRequiredInd00
IRS990ScheduleC/AgreeCarryoverPriorYearInd00
IRS990ScheduleC/OnlyInHouseLobbyingInd00
IRS990ScheduleC/SubstantiallyAllDuesNondedInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt08753
IRS990ScheduleD/EquipmentGrp/DepreciationAmt044213
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt052966
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt04307
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt02493
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt06800
IRS990ScheduleD/TotalBookValueLandBuildingsAmt013060
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt068065
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0TEE OFF FORE TROY
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0FUNDRAISING EVENTS
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt049980
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt068527
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt032230
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0150737
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt049980
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt068527
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt032230
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0150737
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt082672
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt016214
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt068065
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt019746
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt032105
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/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd01
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0464
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0228
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0316923
IRS990/TotalAssetsEOYAmt0307488
IRS990/TotalAssetsGrp/BOYAmt0316923
IRS990/TotalAssetsGrp/EOYAmt0307488
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0320796
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0371264
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt096178
IRS990/TotalFunctionalExpensesGrp/TotalAmt0467442
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0106624
IRS990/TotalLiabilitiesEOYAmt091083
IRS990/TotalLiabilitiesGrp/BOYAmt0106624
IRS990/TotalLiabilitiesGrp/EOYAmt091083
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0210299
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0216405
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt096178

Document Assets

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Filings

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