Civic Intelligence

Monroe County Business Development Corporation

990 • Fiscal year 2017 • EIN 38-2415486

Jan 01, 2017 to Dec 31, 2017 • Filed on Mar 15, 2018

Organization ProfileMONROECOUNTYBDC.ORG

View Organization Page

102 E Front StMonroe, MI 48161

(734) 241-8081

Siviq Scores

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

Liabilities / Assets

31st percentile

0.00x

Higher debt load relative to assets than 31% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

34th percentile

0.01x

Higher debt load relative to revenue than 34% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

78th percentile

21%

Higher net margin than 78% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Asset Growth

67th percentile

11%

Faster asset growth than 67% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

9th percentile

-32%

Faster revenue growth than 9% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets31st percentile

Assets

Up

$822,629

Up $83,182 (+11%) from 2016

Net Assets

Up

$820,664

Up $81,217 (+11%) from 2016

Liabilities

Up

$1,965

Up $1,965 from 2016

Revenue And Expenses
Liabilities / Revenue34th percentileNet Margin78th percentile

Revenue

Down

$312,705

Down $143,946 (-32%) from 2016

Expenses

Down

$247,117

Down $131,764 (-35%) from 2016

Net Income

Down

$65,588

Down $12,182 (-16%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth67th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $380,829Liabilities 2010: $0Net Assets 2010: $380,8292010Assets 2011: $380,263Liabilities 2011: $1,177Net Assets 2011: $379,0862011Assets 2012: $396,366Liabilities 2012: $3,692Net Assets 2012: $392,6742012Assets 2013: $423,631Liabilities 2013: $1,195Net Assets 2013: $422,4362013Assets 2014: $542,177Liabilities 2014: $251Net Assets 2014: $541,9262014Assets 2015: $649,769Liabilities 2015: $163Net Assets 2015: $649,6062015Assets 2016: $739,447Liabilities 2016: $0Net Assets 2016: $739,4472016Assets 2017: $822,629Liabilities 2017: $1,965Net Assets 2017: $820,6642017Assets 2018: $1,085,355Liabilities 2018: $13,946Net Assets 2018: $1,071,4092018Assets 2019: $1,169,221Liabilities 2019: $28,130Net Assets 2019: $1,141,0912019Assets 2020: $1,214,915Liabilities 2020: $55,800Net Assets 2020: $1,159,1152020Assets 2021: $1,344,038Liabilities 2021: $72,342Net Assets 2021: $1,271,6962021Assets 2022: $1,256,866Liabilities 2022: $69,890Net Assets 2022: $1,186,9762022Assets 2023: $1,627,775Liabilities 2023: $40,867Net Assets 2023: $1,586,9092023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2017

Assets$822,629
Liabilities$1,965
Net Assets$820,664
Open 2017 Filing

Operations Trend

Revenue Growth9th percentile

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

$2.0M$1.0M$0-$1.0M-$2.0MExpenses 2010: $255,9222010Expenses 2011: $247,9522011Revenue 2012: $207,732Expenses 2012: $195,218Net Income 2012: $12,5142012Revenue 2013: $294,952Expenses 2013: $266,976Net Income 2013: $27,9762013Revenue 2014: $309,646Expenses 2014: $189,921Net Income 2014: $119,7252014Revenue 2015: $323,079Expenses 2015: $216,905Net Income 2015: $106,1742015Revenue 2016: $456,651Expenses 2016: $378,881Net Income 2016: $77,7702016Revenue 2017: $312,705Expenses 2017: $247,117Net Income 2017: $65,5882017Revenue 2018: $525,694Expenses 2018: $240,281Net Income 2018: $285,4132018Revenue 2019: $312,481Expenses 2019: $319,492Net Income 2019: -$7,0112019Revenue 2020: $437,201Expenses 2020: $427,537Net Income 2020: $9,6642020Revenue 2021: $444,102Expenses 2021: $375,572Net Income 2021: $68,5302021Revenue 2022: $506,256Expenses 2022: $422,097Net Income 2022: $84,1592022Revenue 2023: $1,110,299Expenses 2023: $829,139Net Income 2023: $281,1602023Revenue 2024: $0Expenses 2024: $1,586,908Net Income 2024: -$1,586,9082024

Highlighted filing

2017

Revenue$312,705
Expenses$247,117
Net Income$65,588
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Mar 15, 2018
Return Version
2017v2.2
Gross Receipts
$312,705
Mission and Program Overview

Mission

Growing monroe county's economy by creating new and diversified job opportunities for its citizens.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$566,222$668,092▲ $101,870
Savings and Temporary Cash Investments$101,713$115,471▲ $13,758
Accounts Receivable$68,012$38,000▼ $30,012
Prepaid Expenses and Deferred Charges$2,972$749▼ $2,223
Land, Buildings, and Equipment, Net$528$317▼ $211
Total Assets$739,447$822,629▲ $83,182
Liabilities
Accounts Payable and Accrued Expenses-$1,965-
Total Liabilities$0$1,965▲ $1,965
Net Assets / Fund Balance
Unrestricted Net Assets$637,347$742,664▲ $105,317
Temporarily Rstr Net Assets$102,100$78,000▼ $24,100
Total Net Assets Fund Balance$739,447$820,664▲ $81,217
Total Liabilities and Net Assets / Fund Balance$739,447$822,629▲ $83,182
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Doug ChaffinChairman
Tim LakePresident
Dr Stephen McnewVice Chairma
Bart KulishDirector
Carolyn BennettDirector
Chuck WestDirector
Dan SchwankeDirector
Dr Kojo QuarteyDirector
Gary WilmothDirector
Greg ThomasDirector
Gregory AdaninDirector
Gregory MeyerDirector
Mike MillerDirector
Nick KrzeminskiDirector
Richard SiebDirector
Robert ClarkDirector
Vince BodifordDirector
Ron SweatTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$276,114
Program Service Revenue
$0
Investment Income
$17,858
Other Revenue
$18,733
All Other Contributions
$113,264
Change in Net Assets
$65,588

Audited Revenue Reconciliation

Revenue per Audited Statements
$312,705
Revenue Not Reported on Form 990
$31,057
Total Revenue per Audited Statements
$343,762
Total Revenue per Form 990
$312,705
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$168,501
Other Expenses$78,616
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$156,526--$156,526
Payroll Taxes$11,975--$11,975
Advertising$9,155--$9,155
All Other Expenses$7,856--$7,856
Fees for Services Accounting$6,950--$6,950
Travel$6,548--$6,548
Office Expenses$6,351--$6,351
Other Expenses$3,059--$3,059
Insurance$2,359--$2,359
Depreciation Depletion$212--$212
Total Functional Expenses$247,117$0$0$247,117

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$262,545
Expenses per Audited Statements$247,117
Total Expenses per Form 990$247,117
Expenses Not Reported on Form 990$15,428
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
No
Audit committee
Yes
Backup withholding compliance
No
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
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Form 990 is available at the office upon request.”

Form 990, Page 6, Part VI, Line 15A

“Executive committee reviews the compensation of the executive director.”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Monroe County Business
EIN
38-2415486
Phone
7342418081
Address
102 E FRONT ST, MONROE, MI 48161

Signing Officer

Name
Doug Chaffin
Title
Chairman
Phone
7342418081
Signed
2018-03-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tim Lake
Voting Board Members
18
Independent Board Members
18
Employees
3

Preparer

Firm
Cooley Hehl Sabo & Calkins Pllc
Address
1 SOUTH MONROE, MONROE, MI 48161
Preparer
Deborah a Sabo
Phone
7342417200
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IRS990/OtherExpensesGrp/ProgramServicesAmt112142
IRS990/OtherExpensesGrp/ProgramServicesAmt23884
IRS990/OtherExpensesGrp/ProgramServicesAmt33059
IRS990/OtherExpensesGrp/TotalAmt020100
IRS990/OtherExpensesGrp/TotalAmt112142
IRS990/OtherExpensesGrp/TotalAmt23884
IRS990/OtherExpensesGrp/TotalAmt33059
IRS990/OtherRevenueMiscGrp/Desc0SPECIAL PROJECTS
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt018733
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt018733
IRS990/OtherRevenueTotalAmt018733
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0156526
IRS990/OtherSalariesAndWagesGrp/TotalAmt0156526
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt011975
IRS990/PayrollTaxesGrp/TotalAmt011975
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02972
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0749
IRS990/PrincipalOfficerNm0TIM LAKE
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0257014
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt013532
IRS990/PYOtherExpensesAmt0202613
IRS990/PYOtherRevenueAmt0186105
IRS990/PYRevenuesLessExpensesAmt077770
IRS990/PYSalariesCompEmpBnftPaidAmt0176268
IRS990/PYTotalExpensesAmt0378881
IRS990/PYTotalRevenueAmt0456651
IRS990/ReconcilationRevenueExpnssAmt065588
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0101713
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0115471
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER 0 PROGRAM REVENUE 0
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0276114
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0257014
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0276434
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0271734
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0239334
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01320630
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt017858
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt013532
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt06088
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt05912
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt04956
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt048346
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt018733
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.96470
IRS990ScheduleA/PublicSupportPY170Pct00.97050
IRS990ScheduleA/PublicSupportTotal170Amt01320630
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0276114
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0257014
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0276434
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0271734
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0239334
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01320630
IRS990ScheduleA/TotalSupportAmt01368976
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt015428
IRS990ScheduleD/DonatedServicesUseFcltsAmt015428
IRS990ScheduleD/ExpensesNotReportedAmt015428
IRS990ScheduleD/ExpensesSubtotalAmt0247117
IRS990ScheduleD/NetUnrealizedGainsInvstAmt015629
IRS990ScheduleD/RevenueNotReportedAmt031057
IRS990ScheduleD/RevenueSubtotalAmt0312705
IRS990ScheduleD/TotalExpensesPerForm990Amt0247117
IRS990ScheduleD/TotalRevenuePerForm990Amt0312705
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0343762
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0262545
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS AVAILABLE AT THE OFFICE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EXECUTIVE COMMITTEE REVIEWS THE COMPENSATION OF THE EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MI
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0102100
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt078000
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0739447
IRS990/TotalAssetsEOYAmt0822629
IRS990/TotalAssetsGrp/BOYAmt0739447
IRS990/TotalAssetsGrp/EOYAmt0822629
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0276114
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0247117
IRS990/TotalFunctionalExpensesGrp/TotalAmt0247117
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt01965
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt01965
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0739447
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0820664
IRS990/TotalProgramServiceExpensesAmt0247117
IRS990/TotalRevenueGrp/ExclusionAmt017858
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt018733
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0312705
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0739447
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0822629
IRS990/TravelGrp/ProgramServicesAmt06548
IRS990/TravelGrp/TotalAmt06548
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0637347
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0742664
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0102 EAST FRONT STREET
IRS990/USAddress/CityNm0MONROE
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd048161
IRS990/VotingMembersGoverningBodyCnt018
IRS990/VotingMembersIndependentCnt018
IRS990/WebsiteAddressTxt0MONROECOUNTYBDC.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DOUG CHAFFIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum07342418081
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-03-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MONROE COUNTY BUSINESS
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0MONR
ReturnHeader/Filer/EIN0382415486

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$822,629
Liabilities
$1,965
Net assets
$820,664
Revenue
$312,705
Expenses
$247,117
Net income
$65,588
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$1.59$1.59
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.63$0.04$1.59$1.11$0.83$0.28
2022Detailed filing. Detailed filing data is available for this year.$1.26$0.07$1.19$0.51$0.42$0.08
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.34$0.07$1.27$0.44$0.38$0.07
2020Detailed filing. Detailed filing data is available for this year.$1.21$0.06$1.16$0.44$0.43$0.01
2019Detailed filing. Detailed filing data is available for this year.$1.17$0.03$1.14$0.31$0.32$0.01
2018Detailed filing. Detailed filing data is available for this year.$1.09$0.01$1.07$0.53$0.24$0.29
2017Detailed filing. Detailed filing data is available for this year.$0.82$0.00$0.82$0.31$0.25$0.07
2016Detailed filing. Detailed filing data is available for this year.$0.74$0.00$0.74$0.46$0.38$0.08
2015Detailed filing. Detailed filing data is available for this year.$0.65$0.00$0.65$0.32$0.22$0.11
2014Detailed filing. Detailed filing data is available for this year.$0.54$0.00$0.54$0.31$0.19$0.12
2013Detailed filing. Detailed filing data is available for this year.$0.42$0.00$0.42$0.29$0.27$0.03
2012Summary only. Only limited summary data is available for this year.$0.40$0.00$0.39$0.21$0.20$0.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.38$0.00$0.38$0.25
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.38$0.00$0.38$0.26