Civic Intelligence

Monroe County Business Development Corporation

990 • Fiscal year 2019 • EIN 38-2415486

Jan 01, 2019 to Dec 31, 2019 • Filed on Feb 25, 2020

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

35th percentile

0.02x

Higher debt load relative to assets than 35% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

51st percentile

0.09x

Higher debt load relative to revenue than 51% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

33rd percentile

-2.2%

Higher net margin than 33% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

62nd percentile

7.7%

Faster asset growth than 62% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

7th percentile

-41%

Faster revenue growth than 7% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$1,169,221

Up $83,866 (+7.7%) from 2018

Net Assets

Up

$1,141,091

Up $69,682 (+6.5%) from 2018

Liabilities

Up

$28,130

Up $14,184 (+102%) from 2018

Revenue

Down

$312,481

Down $213,213 (-41%) from 2018

Expenses

Up

$319,492

Up $79,211 (+33%) from 2018

Net Income

Down

-$7,011

Down $292,424 (-102%) from 2018

Historical Trend

Balance Sheet Trend

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

2019

Assets$1,169,221
Liabilities$28,130
Net Assets$1,141,091

Operations Trend

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

2019

Revenue$312,481
Expenses$319,492
Net Income-$7,011
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Feb 25, 2020
Return Version
2019v5.0
Gross Receipts
$312,481
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$947,547$1,075,947▲ $128,400
Accounts Receivable$56,250$59,750▲ $3,500
Savings and Temporary Cash Investments$80,018$31,321▼ $48,697
Prepaid Expenses and Deferred Charges$1,359$2,158▲ $799
Land, Buildings, and Equipment, Net$181$45▼ $136
Total Assets$1,085,355$1,169,221▲ $83,866
Liabilities
Accounts Payable and Accrued Expenses$13,946$25,380▲ $11,434
Deferred Revenue-$2,750-
Total Liabilities$13,946$28,130▲ $14,184
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$802,913$917,431▲ $114,518
Net Assets With Donor Restrictions$268,496$223,660▼ $44,836
Total Net Assets Fund Balance$1,071,409$1,141,091▲ $69,682
Total Liabilities and Net Assets / Fund Balance$1,085,355$1,169,221▲ $83,866
Compensation and Service Providers

Board Members and Trustees

NameTitle
Doug ChaffinChairman
Tim LakePresident
Dr Stephen McnewVice Chairma
Charles ConlenDirector
Darrin ArquetteDirector
Dr Kojo QuarteyDirector
Greg Moore JrDirector
Greg ThomasDirector
Gregory AdaninDirector
Keith MasserantDirector
Michael JewelDirector
Mike MillerDirector
Nick KrzeminskiDirector
Richard SiebDirector
Robert ClarkDirector
Stephanie Roehl BlattDirector
Chuck WestSecretary
Bart KulishTreasurer
Matthew VanisackerVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$260,484
Program Service Revenue
$0
Investment Income
$31,843
Other Revenue
$20,154
All Other Contributions
$100,807
Change in Net Assets
$-7,011

Audited Revenue Reconciliation

Revenue per Audited Statements
$312,481
Revenue Not Reported on Form 990
$92,121
Total Revenue per Audited Statements
$404,602
Total Revenue per Form 990
$312,481
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$206,450
Other Expenses$113,042
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$182,395--$182,395
Payroll Taxes$13,953--$13,953
Advertising$11,350--$11,350
Other Employee Benefits$10,102--$10,102
Office Expenses$7,637--$7,637
Fees for Services Accounting$7,471--$7,471
Travel$7,313--$7,313
All Other Expenses$4,027--$4,027
Insurance$2,118--$2,118
Other Expenses$1,748--$1,748
Depreciation Depletion$136--$136
Total Functional Expenses$319,492$0$0$319,492

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$334,920
Expenses per Audited Statements$319,492
Total Expenses per Form 990$319,492
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 35% controlled entity
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
2020-02-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tim Lake
Voting Board Members
17
Independent Board Members
17
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/NoDonorRestrictionNetAssetsGrp/BOYAmt0802913
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0917431
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OfficeExpensesGrp/ProgramServicesAmt07637
IRS990/OfficeExpensesGrp/TotalAmt07637
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt010102
IRS990/OtherEmployeeBenefitsGrp/TotalAmt010102
IRS990/OtherExpensesGrp/Desc0CONTRACT SERVICES
IRS990/OtherExpensesGrp/Desc1INVESTMENT AND BANK FEES
IRS990/OtherExpensesGrp/Desc2BUILDING RENTAL
IRS990/OtherExpensesGrp/Desc3SPECIAL PROJECTS
IRS990/OtherExpensesGrp/ProgramServicesAmt064257
IRS990/OtherExpensesGrp/ProgramServicesAmt15185
IRS990/OtherExpensesGrp/ProgramServicesAmt21800
IRS990/OtherExpensesGrp/ProgramServicesAmt31748
IRS990/OtherExpensesGrp/TotalAmt064257
IRS990/OtherExpensesGrp/TotalAmt15185
IRS990/OtherExpensesGrp/TotalAmt21800
IRS990/OtherExpensesGrp/TotalAmt31748
IRS990/OtherRevenueMiscGrp/Desc0SPECIAL PROJECTS
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt020154
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt020154
IRS990/OtherRevenueTotalAmt020154
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0182395
IRS990/OtherSalariesAndWagesGrp/TotalAmt0182395
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt013953
IRS990/PayrollTaxesGrp/TotalAmt013953
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01359
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02158
IRS990/PrincipalOfficerNm0TIM LAKE
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0273314
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt027380
IRS990/PYOtherExpensesAmt093908
IRS990/PYOtherRevenueAmt0225000
IRS990/PYRevenuesLessExpensesAmt0285413
IRS990/PYSalariesCompEmpBnftPaidAmt0146373
IRS990/PYTotalExpensesAmt0240281
IRS990/PYTotalRevenueAmt0525694
IRS990/ReconcilationRevenueExpnssAmt0-7011
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt080018
IRS990/SavingsAndTempCashInvstGrp/EOYAmt031321
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER 0 PROGRAM REVENUE 0
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0276114
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0257014
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0276434
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt031843
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt013532
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0265414
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IRS990ScheduleA/PublicSupportPY170Pct00.95140
IRS990ScheduleA/PublicSupportTotal170Amt01343360
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0273314
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0276114
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0257014
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0276434
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01343360
IRS990ScheduleA/TotalSupportAmt01438534
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/DonatedServicesUseFcltsAmt015428
IRS990ScheduleD/ExpensesNotReportedAmt015428
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IRS990ScheduleD/NetUnrealizedGainsInvstAmt076693
IRS990ScheduleD/RevenueNotReportedAmt092121
IRS990ScheduleD/RevenueSubtotalAmt0312481
IRS990ScheduleD/TotalExpensesPerForm990Amt0319492
IRS990ScheduleD/TotalRevenuePerForm990Amt0312481
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0334920
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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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01085355
IRS990/TotalAssetsEOYAmt01169221
IRS990/TotalAssetsGrp/BOYAmt01085355
IRS990/TotalAssetsGrp/EOYAmt01169221
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0260484
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0319492
IRS990/TotalFunctionalExpensesGrp/TotalAmt0319492
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt013946
IRS990/TotalLiabilitiesEOYAmt028130
IRS990/TotalLiabilitiesGrp/BOYAmt013946
IRS990/TotalLiabilitiesGrp/EOYAmt028130
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01071409
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01141091
IRS990/TotalProgramServiceExpensesAmt0319492
IRS990/TotalRevenueGrp/ExclusionAmt031843
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt020154
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0312481
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01085355
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01169221
IRS990/TravelGrp/ProgramServicesAmt07313
IRS990/TravelGrp/TotalAmt07313

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

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