Civic Intelligence

Monroe County Business Development Corporation

990 • Fiscal year 2020 • EIN 38-2415486

Jan 01, 2020 to Dec 31, 2020 • Filed on Feb 23, 2021

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

39th percentile

0.05x

Higher debt load relative to assets than 39% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

48th percentile

0.13x

Higher debt load relative to revenue than 48% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

43rd percentile

2.2%

Higher net margin than 43% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

45th percentile

3.9%

Faster asset growth than 45% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

84th percentile

40%

Faster revenue growth than 84% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets39th percentile

Assets

Up

$1,214,915

Up $45,694 (+3.9%) from 2019

Net Assets

Up

$1,159,115

Up $18,024 (+1.6%) from 2019

Liabilities

Up

$55,800

Up $27,670 (+98%) from 2019

Revenue And Expenses
Liabilities / Revenue48th percentileNet Margin43rd percentile

Revenue

Up

$437,201

Up $124,720 (+40%) from 2019

Expenses

Up

$427,537

Up $108,045 (+34%) from 2019

Net Income

Up

$9,664

Up $16,675 (+238%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth45th 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

2020

Assets$1,214,915
Liabilities$55,800
Net Assets$1,159,115
Open 2020 Filing

Operations Trend

Revenue Growth84th 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

2020

Revenue$437,201
Expenses$427,537
Net Income$9,664
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Feb 23, 2021
Return Version
2020v4.0
Gross Receipts
$437,201
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$1,075,947$1,056,162▼ $19,785
Accounts Receivable$59,750$74,000▲ $14,250
Savings and Temporary Cash Investments$31,321$50,148▲ $18,827
Prepaid Expenses and Deferred Charges$2,158$26,765▲ $24,607
Land, Buildings, and Equipment, Net$45$7,840▲ $7,795
Total Assets$1,169,221$1,214,915▲ $45,694
Liabilities
Accounts Payable and Accrued Expenses$25,380$55,800▲ $30,420
Deferred Revenue$2,750--
Total Liabilities$28,130$55,800▲ $27,670
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$917,431$1,030,164▲ $112,733
Net Assets With Donor Restrictions$223,660$128,951▼ $94,709
Total Net Assets Fund Balance$1,141,091$1,159,115▲ $18,024
Total Liabilities and Net Assets / Fund Balance$1,169,221$1,214,915▲ $45,694
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Doug ChaffinChairman
Dr Kojo QuarteyPresident
Dr Stephen McnewVice Chairma
Darrin ArquetteDirector
David SwartoutDirector
David ZewickyDirector
Gregory AdaninDirector
James PeaceDirector
Keith MasserantDirector
Michael JewelDirector
Mike MillerDirector
Monique Holliday-bettieDirector
Nick KrzeminskiDirector
Richard SiebDirector
Robert ClarkDirector
Stephanie Roehl BlattDirector
Thomas MyersDirector
Tim LakeCEO
Chuck WestSecretary
Greg ThomasTreasurer
Matthew VanisackerVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$277,812
Program Service Revenue
$0
Investment Income
$47,114
Other Revenue
$112,275
All Other Contributions
$80,103
Change in Net Assets
$9,664

Audited Revenue Reconciliation

Revenue per Audited Statements
$437,201
Revenue Not Reported on Form 990
$23,788
Total Revenue per Audited Statements
$460,989
Total Revenue per Form 990
$437,201
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$222,338
Other Expenses$205,199
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$143,456$47,819-$191,275
Payroll Taxes$11,821$3,940-$15,761
Other Employee Benefits$11,478$3,824-$15,302
Advertising$7,783--$7,783
Fees for Services Accounting-$7,200-$7,200
Office Expenses$5,228$335-$5,563
All Other Expenses$3,798--$3,798
Travel$2,611--$2,611
Insurance$2,305--$2,305
Other Expenses$1,800--$1,800
Depreciation Depletion$45--$45
Total Functional Expenses$364,419$63,118$0$427,537

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$442,965
Expenses per Audited Statements$427,537
Total Expenses per Form 990$427,537
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
2021-02-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tim Lake
Voting Board Members
19
Independent Board Members
19
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/LandBldgEquipCostOrOtherBssAmt021110
IRS990/LoanOutstandingInd0false
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IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0GROWING MONROE COUNTY'S ECONOMY BY CREATING NEW AND DIVERSIFIED JOB OPPORTUNITIES FOR ITS CITIZENS.
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IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt01141091
IRS990/NetAssetsOrFundBalancesEOYAmt01159115
IRS990/NetUnrlzdGainsLossesInvstAmt08360
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0917431
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt01030164
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0335
IRS990/OfficeExpensesGrp/ProgramServicesAmt05228
IRS990/OfficeExpensesGrp/TotalAmt05563
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt03824
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt011478
IRS990/OtherEmployeeBenefitsGrp/TotalAmt015302
IRS990/OtherExpensesGrp/Desc0CONTRACT SERVICES
IRS990/OtherExpensesGrp/Desc1SPECIAL PROJECTS
IRS990/OtherExpensesGrp/Desc2INVESTMENT AND BANK FEES
IRS990/OtherExpensesGrp/Desc3BUILDING RENTAL
IRS990/OtherExpensesGrp/ProgramServicesAmt0110849
IRS990/OtherExpensesGrp/ProgramServicesAmt157940
IRS990/OtherExpensesGrp/ProgramServicesAmt25305
IRS990/OtherExpensesGrp/ProgramServicesAmt31800
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IRS990/OtherExpensesGrp/TotalAmt157940
IRS990/OtherExpensesGrp/TotalAmt25305
IRS990/OtherExpensesGrp/TotalAmt31800
IRS990/OtherRevenueMiscGrp/Desc0SPECIAL PROJECTS
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0112275
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0112275
IRS990/OtherRevenueTotalAmt0112275
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt047819
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0143456
IRS990/OtherSalariesAndWagesGrp/TotalAmt0191275
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03940
IRS990/PayrollTaxesGrp/ProgramServicesAmt011821
IRS990/PayrollTaxesGrp/TotalAmt015761
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02158
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt026765
IRS990/PrincipalOfficerNm0TIM LAKE
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0260484
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt031843
IRS990/PYOtherExpensesAmt0113042
IRS990/PYOtherRevenueAmt020154
IRS990/PYRevenuesLessExpensesAmt0-7011
IRS990/PYSalariesCompEmpBnftPaidAmt0206450
IRS990/PYTotalExpensesAmt0319492
IRS990/PYTotalRevenueAmt0312481
IRS990/ReconcilationRevenueExpnssAmt09664
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt031321
IRS990/SavingsAndTempCashInvstGrp/EOYAmt050148
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0277812
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0260484
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0273314
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0276114
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0257014
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01344738
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt026856
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt031843
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt025853
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt017858
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt013532
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0115942
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0377689
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.92060
IRS990ScheduleA/PublicSupportPY170Pct00.93380
IRS990ScheduleA/PublicSupportTotal170Amt01344738
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0277812
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0257014
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01344738
IRS990ScheduleA/TotalSupportAmt01460680
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990/ScheduleBRequiredInd0true
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IRS990ScheduleD/DonatedServicesUseFcltsAmt015428
IRS990ScheduleD/ExpensesNotReportedAmt015428
IRS990ScheduleD/ExpensesSubtotalAmt0427537
IRS990ScheduleD/NetUnrealizedGainsInvstAmt08360
IRS990ScheduleD/RevenueNotReportedAmt023788
IRS990ScheduleD/RevenueSubtotalAmt0437201
IRS990ScheduleD/TotalExpensesPerForm990Amt0427537
IRS990ScheduleD/TotalRevenuePerForm990Amt0437201
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0460989
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0442965
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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01169221
IRS990/TotalAssetsEOYAmt01214915
IRS990/TotalAssetsGrp/BOYAmt01169221
IRS990/TotalAssetsGrp/EOYAmt01214915
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0277812
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,214,915
Liabilities
$55,800
Net assets
$1,159,115
Revenue
$437,201
Expenses
$427,537
Net income
$9,664
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