Civic Intelligence

North Central Michigan College Foundation

990 • Fiscal year 2017 • EIN 38-2910328

Jul 01, 2016 to Jun 30, 2017 • Filed on Sep 29, 2017

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

75th percentile

0.50x

Higher debt load relative to assets than 75% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

91st percentile

2.86x

Higher debt load relative to revenue than 91% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

96th percentile

73%

Higher net margin than 96% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

37th percentile

$93,195

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 6.2% of source-year revenue.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

81st percentile

19%

Faster asset growth than 81% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

98th percentile

358%

Faster revenue growth than 98% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets75th percentile

Assets

Up

$8,514,311

Up $1,365,656 (+19%) from 2016

Net Assets

Up

$4,219,771

Up $1,089,390 (+35%) from 2016

Liabilities

Up

$4,294,540

Up $276,266 (+6.9%) from 2016

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin96th percentile

Revenue

Up

$1,502,084

Up $1,173,846 (+358%) from 2016

Expenses

Down

$398,666

Down $86,148 (-18%) from 2016

Net Income

Up

$1,103,418

Up $1,259,994 (+805%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth81st 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

2017

Assets$8,514,311
Liabilities$4,294,540
Net Assets$4,219,771
Open 2017 Filing

Operations Trend

Revenue Growth98th 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

2017

Revenue$1,502,084
Expenses$398,666
Net Income$1,103,418
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Sep 29, 2017
Return Version
2016v3.0
Gross Receipts
$4,420,525
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$7,029,222$7,636,292▲ $607,070
Other Notes and Loans Receivable, Net-$288,565-
Pledges and Grants Receivable-$230,430-
Savings and Temporary Cash Investments$104,215$226,066▲ $121,851
Cash and Non-Interest-Bearing Accounts$11,268$131,108▲ $119,840
Accounts Receivable$3,950$1,850▼ $2,100
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$7,148,655$8,514,311▲ $1,365,656
Other Assets Total-$0-
Liabilities
Escrow Account Liability$4,018,274$4,294,150▲ $275,876
Accounts Payable and Accrued Expenses-$390-
Total Liabilities$4,018,274$4,294,540▲ $276,266
Net Assets / Fund Balance
Unrestricted Net Assets$2,706,545$2,945,287▲ $238,742
Temporarily Rstr Net Assets$303,836$1,144,484▲ $840,648
Permanently Rstr Net Assets$120,000$130,000▲ $10,000
Total Net Assets Fund Balance$3,130,381$4,219,771▲ $1,089,390
Total Liabilities and Net Assets / Fund Balance$7,148,655$8,514,311▲ $1,365,656
Compensation and Service Providers
Top Officer Pay37th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Lisa WatsonExecutive DirecFT$93,195$93,195

Board Members and Trustees

NameTitle
Irma NoelChair
Cameron Brunet-KochPresident
Kathryn BreignerVice Chair
Barbara WorgessDirector
Chris EtienneDirector
Dawn M BodnarDirector
Joan KleinstiverDirector
John MarshallDirector
Marion KueblerDirector
Melissa KeiswetterDirector
Richard AmesDirector
Stanley SmithDirector
W Richard SmithDirector
William KanineDirector
Daniel LedinghamSecretary
Max R BunkerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,114,378
Program Service Revenue
$0
Investment Income
$360,220
Other Revenue
$27,486
All Other Contributions
$1,030,488
Change in Net Assets
$1,103,418

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$83,890Cost
Total Noncash Contributions1$83,890-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,502,084
Revenue Not Reported on Form 990
$2,949
Total Revenue per Audited Statements
$1,505,033
Total Revenue per Form 990
$1,502,084
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$204,232
Grants and Similar Amounts Paid$194,434
Total Fundraising Expense$95,681
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses-$108,551$95,681$204,232
Grants to Domestic Orgs$194,434--$194,434
Total Functional Expenses$194,434$108,551$95,681$398,666

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$415,643
Expenses per Audited Statements$398,666
Total Expenses per Form 990$398,666
Expenses Not Reported on Form 990$16,977
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
N Central Mich CollegePetoskey, MI-Scholarships, signage, furnishings$188,477
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$44,463
Fundraising Direct Expenses$16,977
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Scramble for Scholarships$29,792$29,792$11,353$18,439
Cookout$14,671$14,671$5,624$9,047
Total Events$44,463$44,463$16,977$27,486
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-
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
Lisa Watson
Title
Executive Direc
Signed
2017-09-29
Discuss with paid preparer
Yes

Organization Details

Formed
1989
Legal Domicile
Mi
Voting Board Members
16
Independent Board Members
15
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 IV, Line 2B: Explanation of escrow account liability

“Endowed Scholarship accounts of the North Central Michigan College are maintained by the Foundation for investment purposes.”

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

“Special Events Expenses $16977”

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

“Special Events Expenses $16977”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/PoliticalCampaignActyInd0false
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IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/PYExcessBenefitTransInd0false
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IRS990/RelatedEntityInd0true
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IRS990/ReportLandBuildingEquipmentInd0false
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Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,514,311
Liabilities
$4,294,540
Net assets
$4,219,771
Revenue
$1,502,084
Expenses
$398,666
Net income
$1,103,418
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