Civic Intelligence

Great Lakes Commerical Finance

990 • Fiscal year 2021 • EIN 38-2467385

Oct 01, 2020 to Sep 30, 2021 • Filed on Mar 18, 2021

Organization ProfileGLCF.ORG
3980 Chicago Dr SW Suite 220Grandville, MI 49418

(616) 459-4825

Siviq Scores

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

Liabilities / Assets

65th percentile

0.15x

Higher debt load relative to assets than 65% of similar nonprofits.

2021 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

73rd percentile

0.46x

Higher debt load relative to revenue than 73% of similar nonprofits.

2021 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2021

Net Margin

24th percentile

-1.3%

Higher net margin than 24% of similar nonprofits.

2021 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2021

Asset Growth

66th percentile

13%

Faster asset growth than 66% of similar nonprofits.

2021 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

4th percentile

-64%

Faster revenue growth than 4% of similar nonprofits.

2021 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets65th percentile

Assets

Up

$4,389,271

Up $501,651 (+13%) from 2020

Net Assets

Down

$3,717,860

Down $19,253 (-0.5%) from 2020

Liabilities

Up

$671,411

Up $520,904 (+346%) from 2020

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin24th percentile

Revenue

Down

$1,475,074

Down $2,628,951 (-64%) from 2020

Expenses

Down

$1,494,327

Down $113,428 (-7.1%) from 2020

Net Income

Down

-$19,253

Down $2,515,523 (-101%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth66th percentile

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

$6.0M$4.0M$2.0M$0Assets 2011: $851,777Liabilities 2011: $86,398Net Assets 2011: $765,3792011Assets 2012: $759,669Liabilities 2012: $44,350Net Assets 2012: $715,3192012Assets 2013: $794,574Liabilities 2013: $78,412Net Assets 2013: $716,1622013Assets 2014: $842,449Liabilities 2014: $99,878Net Assets 2014: $742,5712014Assets 2015: $896,586Liabilities 2015: $95,425Net Assets 2015: $801,1612015Assets 2016: $871,435Liabilities 2016: $89,369Net Assets 2016: $782,0662016Assets 2017: $1,035,379Liabilities 2017: $164,915Net Assets 2017: $870,4642017Assets 2018: $1,131,096Liabilities 2018: $94,275Net Assets 2018: $1,036,8212018Assets 2019: $1,406,085Liabilities 2019: $156,869Net Assets 2019: $1,249,2162019Assets 2020: $3,887,620Liabilities 2020: $150,507Net Assets 2020: $3,737,1132020Assets 2021: $4,389,271Liabilities 2021: $671,411Net Assets 2021: $3,717,8602021Assets 2022: $3,934,233Liabilities 2022: $351,629Net Assets 2022: $3,582,6042022Assets 2023: $4,330,695Liabilities 2023: $252,872Net Assets 2023: $4,077,8232023Assets 2024: $5,065,288Liabilities 2024: $222,681Net Assets 2024: $4,842,6072024Assets 2025: $5,337,240Liabilities 2025: $307,686Net Assets 2025: $5,029,5542025

Highlighted filing

2021

Assets$4,389,271
Liabilities$671,411
Net Assets$3,717,860
Open 2021 Filing

Operations Trend

Revenue Growth4th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $653,2712011Revenue 2012: $738,282Expenses 2012: $788,342Net Income 2012: -$50,0602012Revenue 2013: $845,312Expenses 2013: $844,468Net Income 2013: $8442013Revenue 2014: $877,607Expenses 2014: $851,198Net Income 2014: $26,4092014Revenue 2015: $896,922Expenses 2015: $838,332Net Income 2015: $58,5902015Revenue 2016: $203,516Expenses 2016: $211,545Net Income 2016: -$8,0292016Revenue 2017: $1,098,620Expenses 2017: $1,010,222Net Income 2017: $88,3982017Revenue 2018: $1,316,983Expenses 2018: $1,150,626Net Income 2018: $166,3572018Revenue 2019: $1,383,793Expenses 2019: $1,183,310Net Income 2019: $200,4832019Revenue 2020: $4,104,025Expenses 2020: $1,607,755Net Income 2020: $2,496,2702020Revenue 2021: $1,475,074Expenses 2021: $1,494,327Net Income 2021: -$19,2532021Revenue 2022: $1,746,446Expenses 2022: $1,881,702Net Income 2022: -$135,2562022Revenue 2023: $2,071,600Expenses 2023: $1,632,678Net Income 2023: $438,9222023Revenue 2024: $2,481,008Expenses 2024: $1,716,224Net Income 2024: $764,7842024Revenue 2025: $2,368,379Expenses 2025: $2,181,432Net Income 2025: $186,9472025

Highlighted filing

2021

Revenue$1,475,074
Expenses$1,494,327
Net Income-$19,253
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
Mar 18, 2021
Return Version
2020v4.0
Gross Receipts
$1,475,074
Mission and Program Overview

Mission

Stimulation of economic development throughout the state of michigan by promoting and assisting growth and development of business concerns by offering fixed asset financing through the small business administration's 504 loan program.

Stimulation of economic development throughout the state of michigan by promoting and assisting growth and development of business concerns.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$3,637,030$4,197,636▲ $560,606
Land, Buildings, and Equipment, Net$124,473$103,715▼ $20,758
Prepaid Expenses and Deferred Charges$20,168$41,257▲ $21,089
Intangible Assets$36,996$25,353▼ $11,643
Accounts Receivable$67,119$19,476▼ $47,643
Total Assets$3,887,620$4,389,271▲ $501,651
Other Assets Total$1,834$1,834→ $0
Liabilities
Deferred Revenue-$373,731-
Other Liabilities$104,143$239,063▲ $134,920
Accounts Payable and Accrued Expenses$46,364$58,617▲ $12,253
Total Liabilities$150,507$671,411▲ $520,904
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,737,113$3,717,860▼ $19,253
Total Net Assets Fund Balance$3,737,113$3,717,860▼ $19,253
Total Liabilities and Net Assets / Fund Balance$3,887,620$4,389,271▲ $501,651

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$103,715$59,609$163,324
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleBaseTotal
Julie ParkerPresident$151,909$151,909
Bradd PierceSales Rep$121,769$121,769

Board Members and Trustees

NameTitle
Dan DebaarVice Chairma
Dave DuponVice Chairma
Mike VanommenDirector
Andy JacksonTrustee
Cerise SemrinecTrustee
Mitchell BlueTrustee
Monica WardTrustee
Nancy BoeseTrustee
Steve WilsonTrustee
Wendy TimminsTrustee
Kara WoodTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,295,191
Investment Income
$179,883
Other Revenue
$0
Change in Net Assets
$-19,253

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,475,074
Total Revenue per Audited Statements
$1,475,074
Total Revenue per Form 990
$1,475,074
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,107,723
Other Expenses$386,604
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$768,380$35,365-$803,745
Current Officers, Directors, Trustees, and Key Employees$30,382$121,527-$151,909
Occupancy$63,632$12,498-$76,130
Payroll Taxes$61,173$12,015-$73,188
All Other Expenses$43,681$25,172-$68,853
Other Employee Benefits$44,942$8,827-$53,769
Depreciation Depletion-$33,090-$33,090
Pension Plan Contributions$20,989$4,123-$25,112
Other Expenses$19,250$31,987-$19,250
Fees for Services Accounting-$9,000-$9,000
Conferences and Meetings$4,095--$4,095
Travel$3,681--$3,681
Total Functional Expenses$1,200,723$293,604$0$1,494,327

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,494,327
Total Expenses per Audited Statements$1,494,327
Total Expenses per Form 990$1,494,327
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deposits$239,063
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“MEMBERS”

Form 990, Page 6, Part VI, Line 7A

“Members elect board of directors”

Form 990, Page 6, Part VI, Line 7B

“YES, ANNUAL BUDGET”

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

“A copy of the 990 is provided to the board for their review and approval before the return is filed with the irs.”

Form 990, Page 6, Part VI, Line 12C

“Economic development foundation encourages all directors, officers, and employees to report and to assist in any investigation by any law enforcement or regulatory agency or other persons legally authorized for such matter in the following: 1) illegal or fraudulent activity and 2) questionable accounting, internal controls and auditing matters.”

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

“The compensation of the executive director is included in the budget which is approved by the board of directors. Also, the national association of development companies (nadco) releases a biannual survey that includes the yearly compensation of executive directors and other officers and key employees. The board uses the results of the survey to help determine compensation.”

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

“The national association of development companies (nadco) releases a biannual survey that includes the yearly compensation of executive directors and other officers and key employees. The board uses the results of the survey to help determine compensation.”

Form 990, Page 6, Part VI, Line 19

“A copy of the form 990 is made available for public inspection upon request.”

Filing and Contact Details

Filer

Filer Name
Economic Development Foundation -
EIN
38-2467385
Phone
6164594825
Address
3980 CHICAGO DR SW SUITE 220, GRANDVILLE, MI 49418

Signing Officer

Name
Julie Parker
Title
President
Phone
6164594825
Signed
2021-03-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Julie Parker
Voting Board Members
11
Independent Board Members
11
Employees
15

Preparer

Firm
H&s Companies Pc
Address
4575 LAKE MICHIGAN DR NW, GRAND RAPIDS, MI 49534
Preparer
Kyle Purdy
Phone
6164538551
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Stimulation of economic development throughout the state of michigan by promoting and assisting growth and development of business concerns by offering fixed asset financing through the small business administration's 504 loan program.”

Form 990, Part XI, Line 9

“Loss on disposal of assets 0 loss on disposal of assets 0”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“Loss on disposal of assets 0”

Schedule D, Page 4, Part XII, Line 2D

“Loss on disposal of assets 0”

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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt031987
IRS990/OtherExpensesGrp/ProgramServicesAmt0103840
IRS990/OtherExpensesGrp/ProgramServicesAmt136678
IRS990/OtherExpensesGrp/ProgramServicesAmt219250
IRS990/OtherExpensesGrp/TotalAmt0103840
IRS990/OtherExpensesGrp/TotalAmt136678
IRS990/OtherExpensesGrp/TotalAmt231987
IRS990/OtherExpensesGrp/TotalAmt319250
IRS990/OtherLiabilitiesGrp/BOYAmt0104143
IRS990/OtherLiabilitiesGrp/EOYAmt0239063
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt035365
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0768380
IRS990/OtherSalariesAndWagesGrp/TotalAmt0803745
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt012015
IRS990/PayrollTaxesGrp/ProgramServicesAmt061173
IRS990/PayrollTaxesGrp/TotalAmt073188
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt04123
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt020989
IRS990/PensionPlanContributionsGrp/TotalAmt025112
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt020168
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt041257
IRS990/PrincipalOfficerNm0JULIE PARKER
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0SERVICING FEES
IRS990/ProgramServiceRevenueGrp/Desc1ORIGINATION FEES
IRS990/ProgramServiceRevenueGrp/Desc2FLOAT INCOME
IRS990/ProgramServiceRevenueGrp/Desc3PPP AGENT FEES
IRS990/ProgramServiceRevenueGrp/Desc4LATE FEE INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0820596
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1438892
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt225351
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt310252
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt4100
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0820596
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1438892
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt225351
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt310252
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt4100
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt013999
IRS990/PYOtherExpensesAmt0436610
IRS990/PYProgramServiceRevenueAmt04090026
IRS990/PYRevenuesLessExpensesAmt02496270
IRS990/PYSalariesCompEmpBnftPaidAmt01171145
IRS990/PYTotalExpensesAmt01607755
IRS990/PYTotalRevenueAmt04104025
IRS990/ReconcilationRevenueExpnssAmt0-19253
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01295191
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt01494327
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0103715
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt059609
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0163324
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0239063
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt01475074
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0LOSS ON DISPOSAL OF ASSETS 0
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1LOSS ON DISPOSAL OF ASSETS 0
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0103715
IRS990ScheduleD/TotalExpensesPerForm990Amt01494327
IRS990ScheduleD/TotalLiabilityAmt0239063
IRS990ScheduleD/TotalRevenuePerForm990Amt01475074
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01475074
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01494327
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0151909
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JULIE PARKER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0151909
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0STIMULATION OF ECONOMIC DEVELOPMENT THROUGHOUT THE STATE OF MICHIGAN BY PROMOTING AND ASSISTING GROWTH AND DEVELOPMENT OF BUSINESS CONCERNS BY OFFERING FIXED ASSET FINANCING THROUGH THE SMALL BUSINESS ADMINISTRATION'S 504 LOAN PROGRAM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEMBERS ELECT BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3YES, ANNUAL BUDGET
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A COPY OF THE 990 IS PROVIDED TO THE BOARD FOR THEIR REVIEW AND APPROVAL BEFORE THE RETURN IS FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ECONOMIC DEVELOPMENT FOUNDATION ENCOURAGES ALL DIRECTORS, OFFICERS, AND EMPLOYEES TO REPORT AND TO ASSIST IN ANY INVESTIGATION BY ANY LAW ENFORCEMENT OR REGULATORY AGENCY OR OTHER PERSONS LEGALLY AUTHORIZED FOR SUCH MATTER IN THE FOLLOWING: 1) ILLEGAL OR FRAUDULENT ACTIVITY AND 2) QUESTIONABLE ACCOUNTING, INTERNAL CONTROLS AND AUDITING MATTERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE COMPENSATION OF THE EXECUTIVE DIRECTOR IS INCLUDED IN THE BUDGET WHICH IS APPROVED BY THE BOARD OF DIRECTORS. ALSO, THE NATIONAL ASSOCIATION OF DEVELOPMENT COMPANIES (NADCO) RELEASES A BIANNUAL SURVEY THAT INCLUDES THE YEARLY COMPENSATION OF EXECUTIVE DIRECTORS AND OTHER OFFICERS AND KEY EMPLOYEES. THE BOARD USES THE RESULTS OF THE SURVEY TO HELP DETERMINE COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE NATIONAL ASSOCIATION OF DEVELOPMENT COMPANIES (NADCO) RELEASES A BIANNUAL SURVEY THAT INCLUDES THE YEARLY COMPENSATION OF EXECUTIVE DIRECTORS AND OTHER OFFICERS AND KEY EMPLOYEES. THE BOARD USES THE RESULTS OF THE SURVEY TO HELP DETERMINE COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8A COPY OF THE FORM 990 IS MADE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9LOSS ON DISPOSAL OF ASSETS 0 LOSS ON DISPOSAL OF ASSETS 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03887620
IRS990/TotalAssetsEOYAmt04389271
IRS990/TotalAssetsGrp/BOYAmt03887620
IRS990/TotalAssetsGrp/EOYAmt04389271
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalEmployeeCnt015
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0293604
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01200723
IRS990/TotalFunctionalExpensesGrp/TotalAmt01494327
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0150507
IRS990/TotalLiabilitiesEOYAmt0671411
IRS990/TotalLiabilitiesGrp/BOYAmt0150507
IRS990/TotalLiabilitiesGrp/EOYAmt0671411
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03737113
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03717860
IRS990/TotalProgramServiceExpensesAmt01200723
IRS990/TotalProgramServiceRevenueAmt01295191
IRS990/TotalReportableCompFromOrgAmt0273678
IRS990/TotalRevenueGrp/ExclusionAmt022050
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01453024
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01475074
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03887620
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04389271
IRS990/TravelGrp/ProgramServicesAmt03681
IRS990/TravelGrp/TotalAmt03681
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03980 CHICAGO DR SW SUITE 220
IRS990/USAddress/CityNm0GRANDVILLE
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd049418
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0GLCF.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JULIE PARKER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06164594825
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-03-18
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ECONOMIC DEVELOPMENT FOUNDATION -
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CERTIFIED
ReturnHeader/Filer/BusinessNameControlTxt0ECON
ReturnHeader/Filer/EIN0382467385
ReturnHeader/Filer/PhoneNum06164594825
ReturnHeader/Filer/USAddress/AddressLine1Txt03980 CHICAGO DR SW SUITE 220
ReturnHeader/Filer/USAddress/CityNm0GRANDVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd049418
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0382563599
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0H&S COMPANIES PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04575 LAKE MICHIGAN DR NW
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GRAND RAPIDS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd049534

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,389,271
Liabilities
$671,411
Net assets
$3,717,860
Revenue
$1,475,074
Expenses
$1,494,327
Net income
-$19,253
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$5.34$0.31$5.03$2.37$2.18$0.19
2024Detailed filing. Detailed filing data is available for this year.$5.07$0.22$4.84$2.48$1.72$0.76
2023Detailed filing. Detailed filing data is available for this year.$4.33$0.25$4.08$2.07$1.63$0.44
2022Detailed filing. Detailed filing data is available for this year.$3.93$0.35$3.58$1.75$1.88$0.14
2021Detailed filing. Detailed filing data is available for this year.$4.39$0.67$3.72$1.48$1.49$0.02
2020Detailed filing. Detailed filing data is available for this year.$3.89$0.15$3.74$4.10$1.61$2.50
2019Detailed filing. Detailed filing data is available for this year.$1.41$0.16$1.25$1.38$1.18$0.20
2018Detailed filing. Detailed filing data is available for this year.$1.13$0.09$1.04$1.32$1.15$0.17
2017Detailed filing. Detailed filing data is available for this year.$1.04$0.16$0.87$1.10$1.01$0.09
2016Summary only. Only limited summary data is available for this year.$0.87$0.09$0.78$0.20$0.21$0.01
2015Summary only. Only limited summary data is available for this year.$0.90$0.10$0.80$0.90$0.84$0.06
2014Detailed filing. Detailed filing data is available for this year.$0.84$0.10$0.74$0.88$0.85$0.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.79$0.08$0.72$0.85$0.84$0.00
2012Summary only. Only limited summary data is available for this year.$0.76$0.04$0.72$0.74$0.79$0.05
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.85$0.09$0.77$0.65