Civic Intelligence

North Central Michigan College Foundation

990 • Fiscal year 2015 • EIN 38-2910328

Jul 01, 2014 to Jun 30, 2015 • Filed on Oct 29, 2015

Organization Profilewww.ncmich.edu/foundation.html
1515 Howard StreetPetoskey, MI 49770

(231) 348-6621

Siviq Scores

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

Liabilities / Assets

77th percentile

0.55x

Higher debt load relative to assets than 77% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

96th percentile

10.08x

Higher debt load relative to revenue than 96% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

81st percentile

24%

Higher net margin than 81% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

26th percentile

$66,623

Higher top officer pay than 26% of similar nonprofits.

Top officer pay equals 16.9% of source-year revenue.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Asset Growth

57th percentile

2.5%

Faster asset growth than 57% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

2nd percentile

-76%

Faster revenue growth than 2% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$7,285,765

Up $176,068 (+2.5%) from 2014

Net Assets

Up

$3,309,155

Up $42,238 (+1.3%) from 2014

Liabilities

Up

$3,976,610

Up $133,830 (+3.5%) from 2014

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin81st percentile

Revenue

Down

$394,378

Down $1,236,898 (-76%) from 2014

Expenses

Up

$300,084

Up $85,217 (+40%) from 2014

Net Income

Down

$94,294

Down $1,322,115 (-93%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth57th percentile

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

$15M$10M$5.0M$0Assets 2011: $8,636,144Liabilities 2011: $2,319,916Net Assets 2011: $6,316,2282011Assets 2012: $9,192,336Liabilities 2012: $2,654,222Net Assets 2012: $6,538,1142012Assets 2013: $4,968,746Liabilities 2013: $3,198,776Net Assets 2013: $1,769,9702013Assets 2014: $7,109,697Liabilities 2014: $3,842,780Net Assets 2014: $3,266,9172014Assets 2015: $7,285,765Liabilities 2015: $3,976,610Net Assets 2015: $3,309,1552015Assets 2016: $7,148,655Liabilities 2016: $4,018,274Net Assets 2016: $3,130,3812016Assets 2017: $8,514,311Liabilities 2017: $4,294,540Net Assets 2017: $4,219,7712017Assets 2018: $9,374,973Liabilities 2018: $4,654,806Net Assets 2018: $4,720,1672018Assets 2019: $10,849,693Liabilities 2019: $4,555,080Net Assets 2019: $6,294,6132019Assets 2020: $10,671,844Liabilities 2020: $4,404,152Net Assets 2020: $6,267,6922020Assets 2021: $11,840,851Liabilities 2021: $5,294,557Net Assets 2021: $6,546,2942021Assets 2022: $11,689,091Liabilities 2022: $2,361Net Assets 2022: $11,686,7302022Assets 2023: $12,567,665Liabilities 2023: $0Net Assets 2023: $12,567,6652023Assets 2024: $13,043,792Liabilities 2024: $5,095Net Assets 2024: $13,038,6972024

Highlighted filing

2015

Assets$7,285,765
Liabilities$3,976,610
Net Assets$3,309,155
Open 2015 Filing

Operations Trend

Revenue Growth2nd percentile

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

$10M$5.0M$0-$5.0MExpenses 2011: $220,6862011Expenses 2012: $410,4402012Revenue 2013: $390,186Expenses 2013: $5,222,888Net Income 2013: -$4,832,7022013Revenue 2014: $1,631,276Expenses 2014: $214,867Net Income 2014: $1,416,4092014Revenue 2015: $394,378Expenses 2015: $300,084Net Income 2015: $94,2942015Revenue 2016: $328,238Expenses 2016: $484,814Net Income 2016: -$156,5762016Revenue 2017: $1,502,084Expenses 2017: $398,666Net Income 2017: $1,103,4182017Revenue 2018: $1,060,220Expenses 2018: $592,347Net Income 2018: $467,8732018Revenue 2019: $2,358,981Expenses 2019: $813,411Net Income 2019: $1,545,5702019Revenue 2020: $990,861Expenses 2020: $769,897Net Income 2020: $220,9642020Revenue 2021: $3,124,282Expenses 2021: $3,592,111Net Income 2021: -$467,8292021Revenue 2022: $3,633,911Expenses 2022: $2,326,740Net Income 2022: $1,307,1712022Revenue 2023: $1,923,087Expenses 2023: $1,424,916Net Income 2023: $498,1712023Revenue 2024: $1,899,398Expenses 2024: $2,050,138Net Income 2024: -$150,7402024

Highlighted filing

2015

Revenue$394,378
Expenses$300,084
Net Income$94,294
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Oct 29, 2015
Return Version
2014v5.0
Gross Receipts
$1,223,408
Mission and Program Overview

Mission

To initiate philanthropy in partnership with North Central Michigan College and the community in order to provide financial support for the mission and goals of the college.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,457,786$6,860,823▲ $1,403,037
Savings and Temporary Cash Investments$1,596,771$290,467▼ $1,306,304
Cash and Non-Interest-Bearing Accounts$15,903$128,375▲ $112,472
Accounts Receivable$6,778$5,400▼ $1,378
Pledges and Grants Receivable$32,459$700▼ $31,759
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$7,109,697$7,285,765▲ $176,068
Other Assets Total-$0-
Liabilities
Other Liabilities$3,842,180$3,976,610▲ $134,430
Accounts Payable and Accrued Expenses$600--
Total Liabilities$3,842,780$3,976,610▲ $133,830
Net Assets / Fund Balance
Unrestricted Net Assets$2,754,378$2,812,337▲ $57,959
Temporarily Rstr Net Assets$412,539$396,818▼ $15,721
Permanently Rstr Net Assets$100,000$100,000→ $0
Total Net Assets Fund Balance$3,266,917$3,309,155▲ $42,238
Total Liabilities and Net Assets / Fund Balance$7,109,697$7,285,765▲ $176,068
Compensation and Service Providers
Top Officer Pay26th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Sean PollionExecutive DirecFT$66,623$66,623

Board Members and Trustees

NameTitle
W Richard SmithChairman
Cameron Brunet-KochPresident
Melissa KeiswetterVice President
Barbara BowmanDirector
Barbara WorgessDirector
Charles GanoDirector
Dave KringDirector
Dawn M BodnarDirector
Ernest H MainlandDirector
Irma NoelDirector
Joan KleinstiverDirector
Kathryn BreignerDirector
Marion KueblerDirector
Peter O'RourkeDirector
Richard AmesDirector
Stanley SmithDirector
William KanineDirector
Daniel LedinghamSecretary
Max R BunkerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$311,437
Program Service Revenue
$0
Investment Income
$51,230
Other Revenue
$31,711
All Other Contributions
$311,437
Change in Net Assets
$94,294

Audited Revenue Reconciliation

Revenue per Audited Statements
$394,378
Revenue Not Reported on Form 990
$-36,144
Total Revenue per Audited Statements
$358,234
Total Revenue per Form 990
$394,378
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$182,345
Other Expenses$117,739
Total Fundraising Expense$8,158
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$182,345--$182,345
Other Expenses-$109,581$8,158$8,158
Total Functional Expenses$182,345$109,581$8,158$300,084

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$315,996
Expenses per Audited Statements$300,084
Total Expenses per Form 990$300,084
Expenses Not Reported on Form 990$15,912
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
N Central Mich CollegePetoskey, MI-Scholarships, signage, furnishings$179,692
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$47,623
Fundraising Direct Expenses$15,912
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Scramble for Scholarships$28,575$28,575$8,942$19,633
Cookout$19,048$19,048$6,970$12,078
Total Events$47,623$47,623$15,912$31,711
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Endowed Scholarships Payable$3,976,610
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Organization's sole member is North Central Michigan College.”

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“Members of the Foundation Board of Directors are elected at a meeting of the North Central Michigan College Board of Trustees.”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“Membership approval of corporate actions include:1. Election of members of the Board of Directors2. Amending the Articles of Incorporation and by-laws3. Approval of expenditures in excess of $100,000 for the acquisition of capital assets4. Approval of borrowings or guarantees having a maturity of more than one year5. Adoption of any material amendment to the annual operating and capital budgets6. Approval of long range plans7. Selection of chief executive officer8. Other as required by law”

Form 990, Part VI, Line 11B: Form 990 Review Process

“No review was or will be conducted.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Financial statements are available on organization's website. Articles of Incorporation are available on Michigan Department of Energy, Labor and Economic Growth's website.”

Filing and Contact Details

Filer

Filer Name
North Central Michigan College
EIN
38-2910328
Phone
2313486621
Address
1515 Howard Street, Petoskey, MI 49770

Signing Officer

Name
Sean Pollion
Title
Executive Direc
Signed
2015-10-29
Discuss with paid preparer
Yes

Organization Details

Formed
1989
Legal Domicile
Mi
Voting Board Members
19
Independent Board Members
18
Employees
0
Volunteers
125

Preparer

Firm
Hill Schroderus & Co LLP
Address
923 Spring St Box 695, Petoskey, MI 49770
Preparer
James V Cusenza
Phone
2313474136
Supplemental Narrative

Financial Statement Notes

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

“Special Events Expenses $15912”

Part XII, Line 2D: Other expenses and losses per audited F/S

“Special Events Expenses $15912”

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IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12President
IRS990/Form990PartVIISectionAGrp/TitleTxt13Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
IRS990/Form990PartVIISectionAGrp/TitleTxt17Director
IRS990/Form990PartVIISectionAGrp/TitleTxt18Director
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Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,285,765
Liabilities
$3,976,610
Net assets
$3,309,155
Revenue
$394,378
Expenses
$300,084
Net income
$94,294
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$13.0$0.01$13.0$1.90$2.05$0.15
2023Detailed filing. Detailed filing data is available for this year.$12.6$0.00$12.6$1.92$1.42$0.50
2022Detailed filing. Detailed filing data is available for this year.$11.7$0.00$11.7$3.63$2.33$1.31
2021Detailed filing. Detailed filing data is available for this year.$11.8$5.29$6.55$3.12$3.59$0.47
2020Detailed filing. Detailed filing data is available for this year.$10.7$4.40$6.27$0.99$0.77$0.22
2019Detailed filing. Detailed filing data is available for this year.$10.8$4.56$6.29$2.36$0.81$1.55
2018Detailed filing. Detailed filing data is available for this year.$9.37$4.65$4.72$1.06$0.59$0.47
2017Detailed filing. Detailed filing data is available for this year.$8.51$4.29$4.22$1.50$0.40$1.10
2016Detailed filing. Detailed filing data is available for this year.$7.15$4.02$3.13$0.33$0.48$0.16
2015Detailed filing. Detailed filing data is available for this year.$7.29$3.98$3.31$0.39$0.30$0.09
2014Detailed filing. Detailed filing data is available for this year.$7.11$3.84$3.27$1.63$0.21$1.42
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.97$3.20$1.77$0.39$5.22$4.83
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.19$2.65$6.54$0.41
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.64$2.32$6.32$0.22
Peer Organizations

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