Civic Intelligence

Monroe County Business Development Corporation

990 • Fiscal year 2018 • EIN 38-2415486

Jan 01, 2018 to Dec 31, 2018 • Filed on Mar 08, 2019

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

28th percentile

0.01x

Higher debt load relative to assets than 28% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

29th percentile

0.03x

Higher debt load relative to revenue than 29% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

92nd percentile

54%

Higher net margin than 92% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

87th percentile

32%

Faster asset growth than 87% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

91st percentile

68%

Faster revenue growth than 91% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets28th percentile

Assets

Up

$1,085,355

Up $262,726 (+32%) from 2017

Net Assets

Up

$1,071,409

Up $250,745 (+31%) from 2017

Liabilities

Up

$13,946

Up $11,981 (+610%) from 2017

Revenue And Expenses
Liabilities / Revenue29th percentileNet Margin92nd percentile

Revenue

Up

$525,694

Up $212,989 (+68%) from 2017

Expenses

Down

$240,281

Down $6,836 (-2.8%) from 2017

Net Income

Up

$285,413

Up $219,825 (+335%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth87th 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

2018

Assets$1,085,355
Liabilities$13,946
Net Assets$1,071,409
Open 2018 Filing

Operations Trend

Revenue Growth91st 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

2018

Revenue$525,694
Expenses$240,281
Net Income$285,413
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Mar 8, 2019
Return Version
2018v3.1
Gross Receipts
$525,694
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$668,092$947,547▲ $279,455
Savings and Temporary Cash Investments$115,471$80,018▼ $35,453
Accounts Receivable$38,000$56,250▲ $18,250
Prepaid Expenses and Deferred Charges$749$1,359▲ $610
Land, Buildings, and Equipment, Net$317$181▼ $136
Total Assets$822,629$1,085,355▲ $262,726
Liabilities
Accounts Payable and Accrued Expenses$1,965$13,946▲ $11,981
Total Liabilities$1,965$13,946▲ $11,981
Net Assets / Fund Balance
Unrestricted Net Assets$742,664$802,913▲ $60,249
Temporarily Rstr Net Assets$78,000$268,496▲ $190,496
Total Net Assets Fund Balance$820,664$1,071,409▲ $250,745
Total Liabilities and Net Assets / Fund Balance$822,629$1,085,355▲ $262,726
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Doug ChaffinChairman
Tim LakePresident
Dr Stephen McnewVice Chairma
Carolyn BennettDirector
Chuck WestDirector
Dr Kojo QuarteyDirector
Greg Moore JrDirector
Greg ThomasDirector
Gregory AdaninDirector
Michael JewelDirector
Mike MillerDirector
Nick KrzeminskiDirector
Richard SiebDirector
Robert ClarkDirector
Stephanie RoehlDirector
Vince BodifordDirector
Bart KulishTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$273,314
Program Service Revenue
$0
Investment Income
$27,380
Other Revenue
$225,000
All Other Contributions
$100,500
Change in Net Assets
$285,413

Audited Revenue Reconciliation

Revenue per Audited Statements
$525,694
Revenue Not Reported on Form 990
$-19,240
Total Revenue per Audited Statements
$506,454
Total Revenue per Form 990
$525,694
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$146,373
Other Expenses$93,908
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$135,971--$135,971
Advertising$13,873--$13,873
Travel$13,364--$13,364
Payroll Taxes$10,402--$10,402
All Other Expenses$9,575--$9,575
Fees for Services Accounting$6,920--$6,920
Office Expenses$5,650--$5,650
Other Expenses$3,661--$3,661
Insurance$2,152--$2,152
Depreciation Depletion$136--$136
Total Functional Expenses$240,281$0$0$240,281

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$255,709
Expenses per Audited Statements$240,281
Total Expenses per Form 990$240,281
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
2019-03-08
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/TotalAmt25000
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IRS990/OtherRevenueMiscGrp/Desc0SPECIAL PROJECTS
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0749
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01359
IRS990/PrincipalOfficerNm0TIM LAKE
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0276114
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt017858
IRS990/PYOtherExpensesAmt078616
IRS990/PYOtherRevenueAmt018733
IRS990/PYRevenuesLessExpensesAmt065588
IRS990/PYSalariesCompEmpBnftPaidAmt0168501
IRS990/PYTotalExpensesAmt0247117
IRS990/PYTotalRevenueAmt0312705
IRS990/ReconcilationRevenueExpnssAmt0285413
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0115471
IRS990/SavingsAndTempCashInvstGrp/EOYAmt080018
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER 0 PROGRAM REVENUE 0
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0273314
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0276114
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0257014
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0276434
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0271734
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01354610
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt025853
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt017858
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt013532
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt06088
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt05912
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt069243
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0245260
IRS990ScheduleA/PublicOrganization170Ind0X
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IRS990ScheduleA/PublicSupportPY170Pct00.96470
IRS990ScheduleA/PublicSupportTotal170Amt01354610
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0273314
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0276114
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0257014
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0271734
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01354610
IRS990ScheduleA/TotalSupportAmt01423853
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt015428
IRS990ScheduleD/DonatedServicesUseFcltsAmt015428
IRS990ScheduleD/ExpensesNotReportedAmt015428
IRS990ScheduleD/ExpensesSubtotalAmt0240281
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-34668
IRS990ScheduleD/RevenueNotReportedAmt0-19240
IRS990ScheduleD/RevenueSubtotalAmt0525694
IRS990ScheduleD/TotalExpensesPerForm990Amt0240281
IRS990ScheduleD/TotalRevenuePerForm990Amt0525694
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0506454
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0255709
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
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/TotalContributionsAmt0273314
IRS990/TotalEmployeeCnt03
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0240281
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IRS990/TotalProgramServiceExpensesAmt0240281
IRS990/TotalRevenueGrp/ExclusionAmt025853
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IRS990/TravelGrp/ProgramServicesAmt013364
IRS990/TravelGrp/TotalAmt013364
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/UnrestrictedNetAssetsGrp/BOYAmt0742664
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IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0MONROE
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd048161
IRS990/VotingMembersGoverningBodyCnt018
IRS990/VotingMembersIndependentCnt018
IRS990/WebsiteAddressTxt0MONROECOUNTYBDC.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DOUG CHAFFIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum07342418081
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-03-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MONROE COUNTY BUSINESS
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0MONR
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ReturnHeader/Filer/PhoneNum07342418081
ReturnHeader/Filer/USAddress/AddressLine1Txt0102 E FRONT ST

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,085,355
Liabilities
$13,946
Net assets
$1,071,409
Revenue
$525,694
Expenses
$240,281
Net income
$285,413
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