Civic Intelligence

Great Lakes Commerical Finance

990 • Fiscal year 2013 • EIN 38-2467385

Jul 01, 2012 to Jun 30, 2013 • Filed on Dec 06, 2013

Organization ProfileWWW.GLCF.ORG
1345 Monroe NW Suite 132Grandville, MI 49505
Siviq Scores

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

Liabilities / Assets

59th percentile

0.10x

Higher debt load relative to assets than 59% of similar nonprofits.

2013 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2013

Liabilities / Revenue

57th percentile

0.09x

Higher debt load relative to revenue than 57% of similar nonprofits.

2013 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2013

Net Margin

36th percentile

0.1%

Higher net margin than 36% of similar nonprofits.

2013 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2013

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2013

Asset Growth

60th percentile

4.6%

Faster asset growth than 60% of similar nonprofits.

2013 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2012 to 2013

Revenue Growth

73rd percentile

14%

Faster revenue growth than 73% of similar nonprofits.

2013 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2012 to 2013

Balance Sheet
Liabilities / Assets59th percentile

Assets

Up

$794,574

Up $34,905 (+4.6%) from 2012

Net Assets

Up

$716,162

Up $843 (+0.1%) from 2012

Liabilities

Up

$78,412

Up $34,062 (+77%) from 2012

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin36th percentile

Revenue

Up

$845,312

Up $107,030 (+14%) from 2012

Expenses

Up

$844,468

Up $56,126 (+7.1%) from 2012

Net Income

Up

$844

Up $50,904 (+102%) from 2012

Historical Trend

Balance Sheet Trend

Asset Growth60th 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

2013

Assets$794,574
Liabilities$78,412
Net Assets$716,162
Open 2013 Filing

Operations Trend

Revenue Growth73rd 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

2013

Revenue$845,312
Expenses$844,468
Net Income$844
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2012 to Jun 30, 2013
Signed
Dec 6, 2013
Return Version
2012v2.3
Gross Receipts
$845,312
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.

Filing and Contact Details

Filer

EIN
38-2467385
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IRS990ScheduleI/RecipientTable/AddressUS/AddressLine101081 L WILLIAM SEIDMAN CENTER
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IRS990ScheduleO/GeneralExplanation/Explanation0AMENDMENT IS TO CORRECT PAGE 6, QUESTIONS 6 & 7 WITH REGARD TO THE MEMBERSHIP OF THE ORGANIZATION AND THEIR OVERSIGHT OF THE BOARD OF DIRECTORS AND MANAGEMENT.
IRS990ScheduleO/GeneralExplanation/Explanation1MEMBERS
IRS990ScheduleO/GeneralExplanation/Explanation2MEMBERS ELECT BOARD OF DIRECTORS
IRS990ScheduleO/GeneralExplanation/Explanation3YES, ANNUAL BUDGET
IRS990ScheduleO/GeneralExplanation/Explanation4A COPY OF THE 990 IS PROVIDED TO THE BOARD FOR THEIR REVIEW AND APPROVAL BEFORE THE RETURN IS FILED WITH THE IRS.
IRS990ScheduleO/GeneralExplanation/Explanation5ECONOMIC 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/GeneralExplanation/Explanation6THE 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/GeneralExplanation/Explanation7THE 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/GeneralExplanation/Explanation8A COPY OF THE FORM 990 IS MADE AVAILABLE FOR PUBLIC INSPECTION UP REQUEST.
IRS990ScheduleO/GeneralExplanation/Explanation9BOOK / TAX DEPRECIATION DIFFERENCE -1
IRS990ScheduleO/GeneralExplanation/Identifier0AMENDED RETURN EXPLANATION
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IRS990ScheduleO/GeneralExplanation/Identifier2ELECTION OF MEMBERS AND THEIR RIGHTS
IRS990ScheduleO/GeneralExplanation/Identifier3DECISIONS SUBJECT TO APPROVAL OF MEMBERS
IRS990ScheduleO/GeneralExplanation/Identifier4ORGANIZATION'S PROCESS USED TO REVIEW FORM 990
IRS990ScheduleO/GeneralExplanation/Identifier5ENFORCEMENT OF CONFLICTS POLICY
IRS990ScheduleO/GeneralExplanation/Identifier6COMPENSATION PROCESS FOR TOP OFFICIAL
IRS990ScheduleO/GeneralExplanation/Identifier7COMPENSATION PROCESS FOR OFFICERS
IRS990ScheduleO/GeneralExplanation/Identifier8GOVERNING DOCUMENTS DISCLOSURE EXPLANATION
IRS990ScheduleO/GeneralExplanation/Identifier9RECONCILIATION OF CHANGES - OTHER
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IRS990ScheduleO/GeneralExplanation/ReturnReference2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/GeneralExplanation/ReturnReference3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/GeneralExplanation/ReturnReference4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/GeneralExplanation/ReturnReference5FORM 990, PAGE 6, PART VI, LINE 12C
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IRS990ScheduleO/GeneralExplanation/ReturnReference7FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/GeneralExplanation/ReturnReference8FORM 990, PAGE 6, PART VI, LINE 19
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Document Assets

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Filings

Displayed year

2013 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$794,574
Liabilities
$78,412
Net assets
$716,162
Revenue
$845,312
Expenses
$844,468
Net income
$844
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