Civic Intelligence

Grand Traverse Industries Inc.

990 • Fiscal year 2010 • EIN 38-2090521

Oct 01, 2009 to Sep 30, 2010 • Filed on Feb 16, 2011

Organization ProfileWWW.GRANDTRAVERSEINDUSTRIES.COM

View Organization Page

2883 Aero Park Drive49686
Siviq Scores

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

Liabilities / Assets

66th percentile

0.33x

Higher debt load relative to assets than 66% of similar nonprofits.

2010 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2010

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2010

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2010

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2010

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2010

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets66th percentile

Assets

$2,502,061

No earlier filing loaded for comparison.

Net Assets

$1,664,548

No earlier filing loaded for comparison.

Liabilities

$837,513

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

$2,704,198

No earlier filing loaded for comparison.

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$10M$5.0M$0Assets 2010: $2,502,061Liabilities 2010: $837,513Net Assets 2010: $1,664,5482010Assets 2011: $2,549,361Liabilities 2011: $766,546Net Assets 2011: $1,782,8152011Assets 2012: $3,496,434Liabilities 2012: $1,600,561Net Assets 2012: $1,895,8732012Assets 2013: $3,506,307Liabilities 2013: $1,478,864Net Assets 2013: $2,027,4432013Assets 2014: $3,340,479Liabilities 2014: $1,363,323Net Assets 2014: $1,977,1562014Assets 2015: $3,178,287Liabilities 2015: $1,261,043Net Assets 2015: $1,917,2442015Assets 2016: $4,129,461Liabilities 2016: $2,110,479Net Assets 2016: $2,018,9822016Assets 2017: $4,030,055Liabilities 2017: $1,958,626Net Assets 2017: $2,071,4292017Assets 2018: $4,097,564Liabilities 2018: $1,959,363Net Assets 2018: $2,138,2012018Assets 2019: $4,096,267Liabilities 2019: $1,783,429Net Assets 2019: $2,312,8382019Assets 2020: $4,276,874Liabilities 2020: $1,742,286Net Assets 2020: $2,534,5882020Assets 2021: $4,640,758Liabilities 2021: $548,747Net Assets 2021: $4,092,0112021Assets 2022: $6,663,673Liabilities 2022: $2,354,253Net Assets 2022: $4,309,4202022Assets 2023: $8,142,268Liabilities 2023: $3,025,622Net Assets 2023: $5,116,6462023Assets 2024: $8,793,683Liabilities 2024: $2,891,320Net Assets 2024: $5,902,3632024

Highlighted filing

2010

Assets$2,502,061
Liabilities$837,513
Net Assets$1,664,548
Open 2010 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0Expenses 2010: $2,704,1982010Expenses 2011: $2,845,7862011Expenses 2012: $3,078,2712012Revenue 2013: $3,250,708Expenses 2013: $3,225,913Net Income 2013: $24,7952013Revenue 2014: $3,530,651Expenses 2014: $3,341,366Net Income 2014: $189,2852014Revenue 2015: $3,575,076Expenses 2015: $3,418,109Net Income 2015: $156,9672015Revenue 2016: $3,551,333Expenses 2016: $3,434,057Net Income 2016: $117,2762016Revenue 2017: $3,564,698Expenses 2017: $3,492,711Net Income 2017: $71,9872017Revenue 2018: $3,907,366Expenses 2018: $3,798,512Net Income 2018: $108,8542018Revenue 2019: $4,141,533Expenses 2019: $3,938,614Net Income 2019: $202,9192019Revenue 2020: $3,701,479Expenses 2020: $3,467,262Net Income 2020: $234,2172020Revenue 2021: $5,430,260Expenses 2021: $3,872,837Net Income 2021: $1,557,4232021Revenue 2022: $4,177,412Expenses 2022: $3,925,256Net Income 2022: $252,1562022Revenue 2023: $4,817,148Expenses 2023: $4,044,669Net Income 2023: $772,4792023Revenue 2024: $5,249,845Expenses 2024: $4,464,128Net Income 2024: $785,7172024

Highlighted filing

2010

Revenue-
Expenses$2,704,198
Net Income-
Open 2010 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2009 to Sep 30, 2010
Signed
Feb 16, 2011
Return Version
2009v1.7
Gross Receipts
$3,239,688
Mission and Program Overview

Mission

Grand traverse industries, inc. And subsidiaries ("gti and collectively the organization"), provide employment and training support for persons with disabilities and other barriers to employment, so they may achieve their highest level of independence.

Filing and Contact Details

Filer

EIN
38-2090521
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IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation0Uncertain Tax Positions In July 2006, the Financial Accounting Standards Board ("FASB") issued a new standard related to Accounting for Uncertainty in Income Taxes, now codified as ASC Topic 740. ASC Topic 740 seeks to reduce the significant diversity in practice associated with financial statement recognition and measurement in accounting for income taxes and prescribes the recognition threshold and measurement attribute for disclosures of tax positions previously taken or expected to be taken on an income tax return. The provisions of this standard are applicable to the for-profit limited liability company subsidiaries of GTI; not-for-profit entities are also within the scope of ASC Topic 740. An organization must consider whether it has engaged in activities that jeopardize its current tax exempt status with the Internal Revenue Service. Furthermore, the organization must determine whether it has any unrelated business income, which may be subject to federal and state income taxes. The Organization adopted the provisions of ASC Topic 740 effective October 1, 2009, and, accordingly, analyzed its filing positions in the federal and state jurisdictions where it is required to file income tax returns, as well as all open tax years in these jurisdictions. The Organization has also elected to retain their existing accounting policy with respect to the treatment of interest and penalties attributable to income taxes, and continue to reflect any charges for such, to the extent they arise, as a component of its management and general expenses. The adoption of ASC Topic 740 had no impact on the Organization's consolidated financial statements. The Organization has evaluated the provisions of ASC Topic 740 for the fiscal years 2007 through 2010, the years which remain subject to examination by major tax jurisdiction as of September 30, 2010. The Organization concluded that there are no significant uncertain tax positions requiring recognition in the Organization's consolidated financial statements. The Organization does not expect the total amount of unrecognized tax benefits ("UTB") (e.g. tax deductions, exclusions, or credits claimed or expected to be claimed) to significantly increase or decrease in the next twelve months. The Organization does not have any amounts accrued for interest and penalties related to UTBs at September 30, 2010, and it is not aware of any claims for such amounts by federal or state income tax authorities.
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IRS990ScheduleD/Land/OtherCostOrOtherBasis0180159
IRS990ScheduleD/LeaseholdImprovements/BookValue048704
IRS990ScheduleD/LeaseholdImprovements/Depreciation010325
IRS990ScheduleD/LeaseholdImprovements/OtherCostOrOtherBasis059029
IRS990ScheduleD/OtherLandBuildings/BookValue027842
IRS990ScheduleD/OtherLandBuildings/Depreciation0122675
IRS990ScheduleD/OtherLandBuildings/OtherCostOrOtherBasis0150517
IRS990ScheduleD/OtherLiabilities/Amount0104090
IRS990ScheduleD/OtherLiabilities/Description0Current portion of Long Term Debt
IRS990ScheduleD/TotalOfAmounts0104090
IRS990ScheduleD/TotalOfBookValueLandBuildings01472531
IRS990ScheduleD/TotalOfBookValueSecurities0267446
IRS990/ScheduleJRequired00
IRS990ScheduleL/Form990ScheduleLPartIV/AmountOfTransaction037897
IRS990ScheduleL/Form990ScheduleLPartIV/AmountOfTransaction1115562
IRS990ScheduleL/Form990ScheduleLPartIV/DescriptionOfTransaction0Sale of assets, additional sales compensation, consulting and non-compete agreement.
IRS990ScheduleL/Form990ScheduleLPartIV/DescriptionOfTransaction1Sale of assets, additional sales compensation, consulting and non-compete agreement.
IRS990ScheduleL/Form990ScheduleLPartIV/NameOfInterestedPerson/NamePerson0dan stoudt
IRS990ScheduleL/Form990ScheduleLPartIV/NameOfInterestedPerson/NamePerson1ian bryant
IRS990ScheduleL/Form990ScheduleLPartIV/Relationship0Entity purchased was more than 35% owned by board member - Dan Stoudt
IRS990ScheduleL/Form990ScheduleLPartIV/Relationship1family member of dan stoudt who is a board member.
IRS990ScheduleL/Form990ScheduleLPartIV/SharingOfRevenues01
IRS990ScheduleL/Form990ScheduleLPartIV/SharingOfRevenues11
IRS990ScheduleL/LoanTable/ApprovedByBoard01
IRS990ScheduleL/LoanTable/ApprovedByBoard11
IRS990ScheduleL/LoanTable/BalanceDue05000
IRS990ScheduleL/LoanTable/BalanceDue131850
IRS990ScheduleL/LoanTable/Default00
IRS990ScheduleL/LoanTable/Default10
IRS990ScheduleL/LoanTable/LoanFromOrganization0X
IRS990ScheduleL/LoanTable/LoanFromOrganization1X
IRS990ScheduleL/LoanTable/NameBusiness/BusinessNameLine10gti llc dba km north america
IRS990ScheduleL/LoanTable/NameBusiness/BusinessNameLine11Northern Living Nonprofit Housing corporation
IRS990ScheduleL/LoanTable/OriginalPrincipalAmount05000
IRS990ScheduleL/LoanTable/OriginalPrincipalAmount188000
IRS990ScheduleL/LoanTable/PurposeOfLoan0Cash flows
IRS990ScheduleL/LoanTable/PurposeOfLoan1Cash Flows
IRS990ScheduleL/LoanTable/WrittenAgreement00
IRS990ScheduleL/LoanTable/WrittenAgreement10
IRS990ScheduleL/TotalBalanceDue036850
IRS990ScheduleO/GeneralExplanation/Explanation0The organization reviews the 990 at a Board meeting with the Audit and Finance Committee before it is mailed out by the CPA firm. This is per the Bylaws in the operations and procedure manual.
IRS990ScheduleO/GeneralExplanation/Explanation1An interested person may make a presentation at the board or committee meeting, but after such presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement that results in the conflict of interest. The chairperson of the board or committee may appoint a disinterested person to investigate possible alternatives. After exercising due diligence the board or committee will determine whether the corporation can obtain a more advantageous transaction that would not give rise to a conflict of interest. If a more advantageous transaction is not reasonably attainable the board or committee shall determine by a majority vote of disinterested directors whether or not the transaction should be entered into.
IRS990ScheduleO/GeneralExplanation/Explanation2It shall be the philosophy of the Grand Traverse Industries Board of Directors that the compensation practices for the Chief Executive Officer and any other employee deemed "highly compensated" shall first and foremost be in keeping with state and local norms and the decision for which shall be the exclusive right of the Board of Directors. The philosophy shall include consideration of the following. 1. IRS Intermediate Sanctions, per Internal Revenue Code Section 4958. 2. Reasonable comparability with similar organizations - market conditions. 3. The job description and actual work performed. 4. Performance, experience, and tenure. 5. Availability of funds.
IRS990ScheduleO/GeneralExplanation/Explanation3Yearly, the Audited Financial statements are printed and mailed or given to persons of interest and may be viewed by the public at any time. The conflict of interest policy and governing documents are available for review.
IRS990ScheduleO/GeneralExplanation/Explanation4PROCESS IS CONSISTENT WITH PRIOR YEAR.

Document Assets

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Filings

Displayed year

2010 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$2,502,061
Liabilities
$837,513
Net assets
$1,664,548
Revenue
-
Expenses
$2,704,198
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.79$2.89$5.90$5.25$4.46$0.79
2023Detailed filing. Detailed filing data is available for this year.$8.14$3.03$5.12$4.82$4.04$0.77
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.66$2.35$4.31$4.18$3.93$0.25
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.64$0.55$4.09$5.43$3.87$1.56
2020Detailed filing. Detailed filing data is available for this year.$4.28$1.74$2.53$3.70$3.47$0.23
2019Detailed filing. Detailed filing data is available for this year.$4.10$1.78$2.31$4.14$3.94$0.20
2018Detailed filing. Detailed filing data is available for this year.$4.10$1.96$2.14$3.91$3.80$0.11
2017Detailed filing. Detailed filing data is available for this year.$4.03$1.96$2.07$3.56$3.49$0.07
2016Detailed filing. Detailed filing data is available for this year.$4.13$2.11$2.02$3.55$3.43$0.12
2015Detailed filing. Detailed filing data is available for this year.$3.18$1.26$1.92$3.58$3.42$0.16
2014Detailed filing. Detailed filing data is available for this year.$3.34$1.36$1.98$3.53$3.34$0.19
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.51$1.48$2.03$3.25$3.23$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.50$1.60$1.90$3.08
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.55$0.77$1.78$2.85
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.50$0.84$1.66$2.70