Civic Intelligence

Hancock Public Schools Foundation Inc.

990 • Fiscal year 2023 • EIN 38-2781851

Jul 01, 2022 to Jun 30, 2023 • Filed on Sep 20, 2023

501 Campus DriveHancock, MI 49930

(906) 487-5925

Siviq Scores

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

Liabilities / Assets

19th percentile

0.00x

Higher debt load relative to assets than 19% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

22nd percentile

0.00x

Higher debt load relative to revenue than 22% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

37th percentile

-1.0%

Higher net margin than 37% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

46th percentile

2.9%

Faster asset growth than 46% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

9th percentile

-41%

Faster revenue growth than 9% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$2,452,270

Up $69,481 (+2.9%) from 2022

Net Assets

Up

$2,451,725

Up $68,936 (+2.9%) from 2022

Liabilities

Up

$545

Up $545 from 2022

Revenue

Down

$151,409

Down $103,997 (-41%) from 2022

Expenses

Down

$152,951

Down $71,984 (-32%) from 2022

Net Income

Down

-$1,542

Down $32,013 (-105%) from 2022

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,852,766Liabilities 2011: $0Net Assets 2011: $1,852,7662011Assets 2012: $1,495,302Liabilities 2012: $0Net Assets 2012: $1,495,3022012Assets 2013: $1,617,567Liabilities 2013: $0Net Assets 2013: $1,617,5672013Assets 2014: $1,745,872Liabilities 2014: $0Net Assets 2014: $1,745,8722014Assets 2015: $1,643,749Liabilities 2015: $0Net Assets 2015: $1,643,7492015Assets 2016: $1,533,986Liabilities 2016: $0Net Assets 2016: $1,533,9862016Assets 2017: $2,396,466Liabilities 2017: $5,348Net Assets 2017: $2,391,1182017Assets 2018: $2,472,984Liabilities 2018: $5,406Net Assets 2018: $2,467,5782018Assets 2019: $2,478,662Liabilities 2019: $0Net Assets 2019: $2,478,6622019Assets 2020: $2,390,672Liabilities 2020: $0Net Assets 2020: $2,390,6722020Assets 2021: $2,790,879Liabilities 2021: $1,335Net Assets 2021: $2,789,5442021Assets 2022: $2,382,789Liabilities 2022: $0Net Assets 2022: $2,382,7892022Assets 2023: $2,452,270Liabilities 2023: $545Net Assets 2023: $2,451,7252023Assets 2024: $2,531,291Liabilities 2024: $520Net Assets 2024: $2,530,7712024Assets 2025: $2,887,344Liabilities 2025: $840Net Assets 2025: $2,886,5042025

Highlighted filing

2023

Assets$2,452,270
Liabilities$545
Net Assets$2,451,725

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2011: $150,769Expenses 2011: $104,447Net Income 2011: $46,3222011Revenue 2012: $89,470Expenses 2012: $402,363Net Income 2012: -$312,8932012Revenue 2013: $110,154Expenses 2013: $81,067Net Income 2013: $29,0872013Revenue 2014: $141,176Expenses 2014: $144,258Net Income 2014: -$3,0822014Revenue 2015: $170,769Expenses 2015: $142,641Net Income 2015: $28,1282015Revenue 2016: $95,288Expenses 2016: $98,046Net Income 2016: -$2,7582016Revenue 2017: $822,567Expenses 2017: $100,690Net Income 2017: $721,8772017Revenue 2018: $160,237Expenses 2018: $101,495Net Income 2018: $58,7422018Revenue 2019: $206,656Expenses 2019: $139,537Net Income 2019: $67,1192019Revenue 2020: $112,218Expenses 2020: $144,147Net Income 2020: -$31,9292020Revenue 2021: $204,499Expenses 2021: $156,606Net Income 2021: $47,8932021Revenue 2022: $255,406Expenses 2022: $224,935Net Income 2022: $30,4712022Revenue 2023: $151,409Expenses 2023: $152,951Net Income 2023: -$1,5422023Revenue 2024: $113,004Expenses 2024: $150,545Net Income 2024: -$37,5412024Revenue 2025: $358,182Expenses 2025: $130,009Net Income 2025: $228,1732025

Highlighted filing

2023

Revenue$151,409
Expenses$152,951
Net Income-$1,542
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Sep 20, 2023
Return Version
2022v5.0
Gross Receipts
$453,166
Mission and Program Overview

Mission

To assist in the development, implementation, and maintenance of education programs which significantly contribute to the education of hancock public schools students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,365,489$2,429,733▲ $64,244
Cash and Non-Interest-Bearing Accounts$17,300$22,537▲ $5,237
Total Assets$2,382,789$2,452,270▲ $69,481
Liabilities
Other Liabilities-$545-
Total Liabilities$0$545▲ $545
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,903,841$1,997,245▲ $93,404
Net Assets With Donor Restrictions$478,948$454,480▼ $24,468
Total Net Assets Fund Balance$2,382,789$2,451,725▲ $68,936
Total Liabilities and Net Assets / Fund Balance$2,382,789$2,452,270▲ $69,481
Compensation and Service Providers

Board Members and Trustees

NameTitle
David DowPresident
Dean WoodbeckDirector
Dennis WalikainenDirector
John VaaraDirector
Kevin KalinecDirector
Michele BlauDirector
Robbyn LucierDirector
Tom SuchenekDirector
Tony FisherDirector
Paula NutiniSecretary
Michael HauswirthTreasurer
Neil AholaVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$36,760
Program Service Revenue
$0
Investment Income
$114,649
Other Revenue
$0
All Other Contributions
$36,760
Change in Net Assets
$-1,542
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$119,700
Other Expenses$33,251
Total Fundraising Expense$3,046
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$79,700--$79,700
Grants to Domestic Individuals$40,000--$40,000
Fees for Service Investment Mgmnt Fees-$21,847-$21,847
Fees for Services Accounting-$7,661-$7,661
Office Expenses--$3,046$3,046
Advertising-$600-$600
Other Expenses-$18-$18
Total Functional Expenses$119,700$30,205$3,046$152,951
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Hancock Public SchoolsHancock, MIGovAssist Education$79,700
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit Card Payable$545
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
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
No
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

990 is reviewed by the board of directors upon completion

Form 990, Page 6, Part VI, Line 19

Governing documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Hancock Public Schools
EIN
38-2781851
Phone
9064875925
Address
501 CAMPUS DRIVE, HANCOCK, MI 49930

Signing Officer

Name
David Dow
Title
President
Signed
2023-09-20

Organization Details

Principal Officer
David Dow
Formed
1988
Legal Domicile
Mi
Voting Board Members
12
Independent Board Members
12
Employees
0

Preparer

Firm
Rukkila Negro and Associates Cpas Pc
Address
310 SHELDEN AVENUE, HOUGHTON, MI 49931-1964
Preparer
Jean a Middleton
Phone
9064826601
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To assist in the development, implementation, and maintenance of education programs which significantly contribute to the education of hancock public schools students.

Form 990, Part XI, Line 9

ROUNDING -1

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
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IRS990ScheduleA/FactsAndCircumstancesTestTxt0THE ORGANIZATION MAINTAINS A CONTINUOUS AND BONA FILE PROGRAM FOR SOLICITATION OF FUNDS FROM THE GENERAL PUBLIC THROUGH MAILINGS. THE ORGANIZATION HAS BEEN FUNDED THROUGH GENEROUS PUBLIC SUPPORT AND BY SEVERAL LARGE "UNUSUAL GRANTS" OVER THE YEARS, THE MAJORITY OF WHICH HAVE BEEN RECEIVED FROM THE ESTATES OF ALUMNI. THESE DONATIONS HAVE BEEN INVESTED IN SECURITIES THAT EARN SIGNIFICANT INTEREST AND DIVIDENDS. THESE EARNINGS ARE USED TO FUND PROGRAMS AT HANCOCK PUBLIC SCHOOLS AND ISSUE SCHOLARSHIPS TO THE SCHOOL'S GRADUATES. THE BOARD OF DIRECTORS GOVERNS THE DISBURSAL OF ALL FUNDS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0RECEIVED FROM ESTATE 23,745 REFUND TAXES WITHHELD IN ERROR 12,390 REFUND TAXES WITHHELD IN ERROR 5,265
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1THE ORGANIZATION MAINTAINS A CONTINUOUS AND BONA FILE PROGRAM FOR SOLICITATION OF FUNDS FROM THE GENERAL PUBLIC THROUGH MAILINGS. THE ORGANIZATION HAS BEEN FUNDED THROUGH GENEROUS PUBLIC SUPPORT AND BY SEVERAL LARGE "UNUSUAL GRANTS" OVER THE YEARS, THE MAJORITY OF WHICH HAVE BEEN RECEIVED FROM THE ESTATES OF ALUMNI. THESE DONATIONS HAVE BEEN INVESTED IN SECURITIES THAT EARN SIGNIFICANT INTEREST AND DIVIDENDS. THESE EARNINGS ARE USED TO FUND PROGRAMS AT HANCOCK PUBLIC SCHOOLS AND ISSUE SCHOLARSHIPS TO THE SCHOOL'S GRADUATES. THE BOARD OF DIRECTORS GOVERNS THE DISBURSAL OF ALL FUNDS.
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0ALL OF THE GRANTS ARE MADE TO THE HANCOCK PUBLIC SCHOOLS, ITS TEACHERS AND STUDENTS FOR PROJECTS, EVENTS OR EQUIPMENT CONNECTED WITH THE DISTRICT, WHICH IS IN HANCOCK, MICHIGAN, USA. ITEMS PURCHASED WITH GRANT FUNDS ARE MONITORED BY THE BUILDING PRINCIPALS AND/OR SUPERINTENDENT AND/OR THE FOUNDATION BOARD VIA INSPECTION. THE GRANTS ARE GENERALLY PAID ON A REIMBURSEMENT BASIS, WITH ORIGINAL BILLS KEPT TO SUPPORT THE GRANT PAYMENTS. GRANT REQUESTS ARE SUBMITTED IN WRITING. THE HPSF GRANTS COMMITTEE REVIEWS THE MERIT OF THE GRANT REQUESTS, PRESENTS THEIR SUGGESTIONS TO THE FOUNDATION BOARD WHICH VOTES ON WHETHER TO APPROVE THE GRANTS. SCHOLARSHIP AMOUNTS ARE DETERMINED BY THE FOUNDATION BOARD AND PAID DIRECTLY TO THE COLLEGE OR UNIVERSITY AFTER RECEIVING VERIFICATION OF ENROLLMENT FROM THE HIGH SCHOOL COUNSELOR. THE STUDENTS SUBMIT SCHOLARSHIP APPLICATIONS WHICH ARE REVIEWED BY A SCHOLARSHIP COMMITTEE. AWARDS ARE BASED ON ACADEMIC PERFORMANCE, APTITUDE TESTS, AND LEADERSHIP DEMONSTRATED.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO ASSIST IN THE DEVELOPMENT, IMPLEMENTATION, AND MAINTENANCE OF EDUCATION PROGRAMS WHICH SIGNIFICANTLY CONTRIBUTE TO THE EDUCATION OF HANCOCK PUBLIC SCHOOLS STUDENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1990 IS REVIEWED BY THE BOARD OF DIRECTORS UPON COMPLETION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ROUNDING -1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
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IRS990/UponRequestInd0X
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IRS990/WebsiteAddressTxt0HANCOCKPUBLICSCHOOLS.ORG/SCHOOL-FOUND
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID DOW
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-09-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HANCOCK PUBLIC SCHOOLS
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0HANC
ReturnHeader/Filer/EIN0382781851
ReturnHeader/Filer/PhoneNum09064875925
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ReturnHeader/Filer/USAddress/CityNm0HANCOCK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RUKKILA NEGRO AND ASSOCIATES CPAS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0310 SHELDEN AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HOUGHTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0499311964
ReturnHeader/PreparerPersonGrp/PhoneNum09064826601
ReturnHeader/PreparerPersonGrp/PreparationDt02023-09-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEAN A MIDDLETON
ReturnHeader/ReturnTs02023-09-21T10:45:23-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DAVID
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0DOW
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.89$0.00$2.89$0.36$0.13$0.23
2024Detailed filing. Detailed filing data is available for this year.$2.53$0.00$2.53$0.11$0.15$0.04
2023Detailed filing. Detailed filing data is available for this year.$2.45$0.00$2.45$0.15$0.15$0.00
2022Detailed filing. Detailed filing data is available for this year.$2.38$0.00$2.38$0.26$0.22$0.03
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.79$0.00$2.79$0.20$0.16$0.05
2020Detailed filing. Detailed filing data is available for this year.$2.39$0.00$2.39$0.11$0.14$0.03
2019Detailed filing. Detailed filing data is available for this year.$2.48$0.00$2.48$0.21$0.14$0.07
2018Detailed filing. Detailed filing data is available for this year.$2.47$0.01$2.47$0.16$0.10$0.06
2017Detailed filing. Detailed filing data is available for this year.$2.40$0.01$2.39$0.82$0.10$0.72
2016Detailed filing. Detailed filing data is available for this year.$1.53$0.00$1.53$0.10$0.10$0.00
2015Detailed filing. Detailed filing data is available for this year.$1.64$0.00$1.64$0.17$0.14$0.03
2014Detailed filing. Detailed filing data is available for this year.$1.75$0.00$1.75$0.14$0.14$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.62$0.00$1.62$0.11$0.08$0.03
2012Summary only. Only limited summary data is available for this year.$1.50$0.00$1.50$0.09$0.40$0.31
2011Summary only. Only limited summary data is available for this year.$1.85$0.00$1.85$0.15$0.10$0.05