Civic Intelligence

Lakeshore 504

990 • Fiscal year 2017 • EIN 38-2677941

Oct 01, 2016 to Sep 30, 2017 • Filed on Jun 25, 2018

272 East 8th StreetHolland, MI 49423

(616) 392-2389

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2017

Liabilities / Revenue

57th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)4 • <$500k nonprofits • Source year 2017

Net Margin

16th percentile

-19%

Higher net margin than 16% of similar nonprofits.

2017 filings • 501(c)4 • <$500k nonprofits • Source year 2017

Top Officer Pay

86th percentile

$0

Higher top officer pay than 86% of similar nonprofits.

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

2017 filings • 501(c)4 • <$500k nonprofits • Source year 2017

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

2017 filings • 501(c)4 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

28th percentile

-12%

Faster revenue growth than 28% of similar nonprofits.

2017 filings • 501(c)4 • <$500k nonprofits • Annualized from 2016 to 2017

Assets

Down

$0

Down $111,957 (-100%) from 2016

Net Assets

Down

$0

Down $60,000 (-100%) from 2016

Liabilities

Down

$0

Down $51,957 (-100%) from 2016

Revenue

Down

$321,752

Down $42,587 (-12%) from 2016

Expenses

Up

$381,752

Up $22,413 (+6.2%) from 2016

Net Income

Down

-$60,000

Down $65,000 (-1300%) from 2016

Historical Trend

Balance Sheet Trend

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

$200K$150K$100K$50K$0Assets 2010: $124,994Liabilities 2010: $89,760Net Assets 2010: $35,2342010Assets 2011: $128,500Liabilities 2011: $88,661Net Assets 2011: $39,8392011Assets 2012: $180,591Liabilities 2012: $135,641Net Assets 2012: $44,9502012Assets 2013: $153,715Liabilities 2013: $103,765Net Assets 2013: $49,9502013Assets 2014: $108,603Liabilities 2014: $58,603Net Assets 2014: $50,0002014Assets 2015: $135,841Liabilities 2015: $80,841Net Assets 2015: $55,0002015Assets 2016: $111,957Liabilities 2016: $51,957Net Assets 2016: $60,0002016Assets 2017: $0Liabilities 2017: $0Net Assets 2017: $02017

Highlighted filing

2017

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2010: $350,490Expenses 2010: $350,256Net Income 2010: $2342010Revenue 2011: $407,768Expenses 2011: $403,163Net Income 2011: $4,6052011Revenue 2012: $399,561Expenses 2012: $394,450Net Income 2012: $5,1112012Revenue 2013: $492,761Expenses 2013: $487,761Net Income 2013: $5,0002013Revenue 2014: $349,984Expenses 2014: $349,934Net Income 2014: $502014Revenue 2015: $444,656Expenses 2015: $439,656Net Income 2015: $5,0002015Revenue 2016: $364,339Expenses 2016: $359,339Net Income 2016: $5,0002016Revenue 2017: $321,752Expenses 2017: $381,752Net Income 2017: -$60,0002017

Highlighted filing

2017

Revenue$321,752
Expenses$381,752
Net Income-$60,000
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
Jun 25, 2018
Return Version
2016v3.1
Gross Receipts
$322,819
Mission and Program Overview

Mission

Lakeshore 504 is a non-profit organization that contributes to economic and entrepreneurial development in west michigan by partnering with financial institutions to provide long-term fixed rate financing, create jobs, and improve the quality of life with a level of professionalism and expertise in small business lending.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$73,317--
Accounts Receivable$22,071--
Prepaid Expenses and Deferred Charges$14,275--
Land, Buildings, and Equipment, Net$2,294--
Total Assets$111,957$0▼ $111,957
Liabilities
Accounts Payable and Accrued Expenses$33,961--
Other Liabilities$17,996--
Total Liabilities$51,957$0▼ $51,957
Net Assets / Fund Balance
Unrestricted Net Assets$60,000--
Total Net Assets Fund Balance$60,000$0▼ $60,000
Total Liabilities and Net Assets / Fund Balance$111,957$0▼ $111,957
Compensation and Service Providers

Board Members and Trustees

NameTitle
Bret DocterPresident
Cerise SemrinecDirector
Chris KellyDirector
Craig OosterhouseDirector
Ed GarnerDirector
Janet WyllieDirector
Jeff SchrotenboerDirector
Jim LillyDirector
Ken RizzioDirector
Mark KleistDirector
Mark WilsonDirector
Stacey StephensDirector
Steve WilsonDirector
Thomas PostmaDirector
Tom Den HerderSecretary
Douglas RotmanTreasurer
James BishopVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$303,287
Investment Income
$16,865
Other Revenue
$1,600
Change in Net Assets
$-60,000

Audited Revenue Reconciliation

Revenue per Audited Statements
$321,752
Revenue Not Reported on Form 990
$1,067
Total Revenue per Audited Statements
$322,819
Total Revenue per Form 990
$321,752
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$381,752
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$33,215$32,500-$33,215
All Other Expenses$28,123$5-$28,128
Insurance-$18,212-$18,212
Fees for Services Legal-$13,597-$13,597
Fees for Services Accounting-$10,904-$10,904
Depreciation Depletion$1,228--$1,228
Office Expenses$1,138--$1,138
Conferences and Meetings$598$9-$607
Total Functional Expenses$306,525$75,227$0$381,752

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$382,819
Expenses per Audited Statements$381,752
Total Expenses per Form 990$381,752
Expenses Not Reported on Form 990$1,067
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
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

The form 990 is reviewed by management prior to filing.

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

Prior to voting, directors are asked to indicate if they have a conflict of interest or not. If a director has a conflict, they must abstain from voting.

Form 990, Page 6, Part VI, Line 19

The form 990 is available to the public on the internet at www.guidestar.org. Governing documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Lakeshore 504
EIN
38-2677941
Phone
6163922389
Address
272 EAST 8TH STREET, HOLLAND, MI 49423

Signing Officer

Name
Bret Docter
Title
President
Phone
6163922389
Signed
2018-06-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bret Docter
Formed
1983
Legal Domicile
Mi
Voting Board Members
17
Independent Board Members
17
Employees
0

Preparer

Firm
Delong & Brower Pc
Address
238 HOOVER BLVD SUITE 10, HOLLAND, MI 49423
Preparer
Charles a Brower
Phone
6163960500
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Lakeshore 504 is a non-profit organization that contributes to economic and entrepreneurial development in west michigan by partnering with financial institutions to provide long-term fixed rate financing, create jobs, and improve the quality of life with a level of professionalism and expertise in small business lending.

Form 990, Part XI, Line 9

Loss on asset disposals 1,067 loss on asset disposals -1,067

Financial Statement Notes

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

Loss on asset disposals 1,067

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

Loss on asset disposals 1,067

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IRS990/PrincipalOfficerNm0BRET DOCTER
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0MONTHLY LOAN SERVICE FEES
IRS990/ProgramServiceRevenueGrp/Desc1LOAN CLOSING PROCESSING FEES
IRS990/ProgramServiceRevenueGrp/Desc2LOAN CLOSING INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0258291
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt134496
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt210500
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0258291
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt134496
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt210500
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt016266
IRS990/PYOtherExpensesAmt0364339
IRS990/PYProgramServiceRevenueAmt0348073
IRS990/PYTotalExpensesAmt0364339
IRS990/PYTotalRevenueAmt0364339
IRS990/ReconcilationRevenueExpnssAmt0-60000
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0303287
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesNotReportedAmt01067
IRS990ScheduleD/ExpensesSubtotalAmt0381752
IRS990ScheduleD/OtherExpensesIncludedAmt01067
IRS990ScheduleD/OtherRevenueAmt01067
IRS990ScheduleD/RevenueNotReportedAmt01067
IRS990ScheduleD/RevenueSubtotalAmt0321752
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0LOSS ON ASSET DISPOSALS 1,067
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1LOSS ON ASSET DISPOSALS 1,067
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/TotalExpensesPerForm990Amt0381752
IRS990ScheduleD/TotalRevenuePerForm990Amt0321752
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0322819
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0382819
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleN/AssetsDistributedInd0true
IRS990ScheduleN/BondsOutstandingInd0false
IRS990ScheduleN/DirectorOfSuccessorInd0false
IRS990ScheduleN/EmployeeOfSuccessorInd0false
IRS990ScheduleN/LiabilitiesPaidInd0true
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0CASH
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1CASH
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02017-10-12
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt12017-10-12
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN0380655230
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN1382467974
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt040352
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt113451
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501(C)(6)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt1501(C)(6)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0COST
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt1COST
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/PersonNm0MICH WEST COAST CHAMBER OF COMMERCE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/PersonNm1GRAND HAVEN CHAMBER OF COMMERCE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt0272 E 8TH ST
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt1ONE SOUTH HARBOR DR
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0HOLLAND
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm1GRAND HAVEN
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0MI
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd1MI
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd049423
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd149417
IRS990ScheduleN/OwnerOfSuccessorInd0false
IRS990ScheduleN/ReceiveCompensationInd0false
IRS990ScheduleN/RequiredToNotifyAGInd0true
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LAKESHORE 504 IS A NON-PROFIT ORGANIZATION THAT CONTRIBUTES TO ECONOMIC AND ENTREPRENEURIAL DEVELOPMENT IN WEST MICHIGAN BY PARTNERING WITH FINANCIAL INSTITUTIONS TO PROVIDE LONG-TERM FIXED RATE FINANCING, CREATE JOBS, AND IMPROVE THE QUALITY OF LIFE WITH A LEVEL OF PROFESSIONALISM AND EXPERTISE IN SMALL BUSINESS LENDING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED BY MANAGEMENT PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PRIOR TO VOTING, DIRECTORS ARE ASKED TO INDICATE IF THEY HAVE A CONFLICT OF INTEREST OR NOT. IF A DIRECTOR HAS A CONFLICT, THEY MUST ABSTAIN FROM VOTING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS AVAILABLE TO THE PUBLIC ON THE INTERNET AT WWW.GUIDESTAR.ORG. GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4LOSS ON ASSET DISPOSALS 1,067 LOSS ON ASSET DISPOSALS -1,067
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0MI WEST COAST CHAMBER OF COMMERCE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0380655230
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C6
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0ECONOMIC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0272 EAST 8TH STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0HOLLAND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd049423
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0true
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt065000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0ACCOUNTING RECORDS
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1ACCOUNTING RECORDS
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0MI WEST COAST CHAMBER OF COMMERCE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1MI WEST COAST CHAMBER OF COMMERCE
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0N
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1M
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0true
IRS990/TotalAssetsBOYAmt0111957
IRS990/TotalAssetsEOYAmt00

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