Civic Intelligence

Macomb Foundation

990 • Fiscal year 2023 • EIN 38-2972671

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 13, 2024

Organization ProfileN/A
28 First Street Suite BMount Clemens, MI 48043

(586) 493-7600

Siviq Scores

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

Liabilities / Assets

94th percentile

0.90x

Higher debt load relative to assets than 94% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

97th percentile

1.63x

Higher debt load relative to revenue than 97% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

52nd percentile

4.0%

Higher net margin than 52% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

63rd percentile

9.4%

Faster asset growth than 63% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

38th percentile

-5.2%

Faster revenue growth than 38% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$309,242

Up $26,590 (+9.4%) from 2022

Net Assets

Up

$30,936

Up $6,754 (+28%) from 2022

Liabilities

Up

$278,306

Up $19,836 (+7.7%) from 2022

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin52nd percentile

Revenue

Down

$170,742

Down $9,452 (-5.2%) from 2022

Expenses

Down

$163,988

Down $9,603 (-5.5%) from 2022

Net Income

Up

$6,754

Up $151 (+2.3%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth63rd percentile

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

$400K$200K$0-$200KAssets 2011: $30,654Liabilities 2011: $117,405Net Assets 2011: -$86,7512011Assets 2012: $32,859Liabilities 2012: $93,228Net Assets 2012: -$60,3692012Assets 2014: $20,926Liabilities 2014: $24,688Net Assets 2014: -$3,7622014Assets 2015: $41,985Liabilities 2015: $26,299Net Assets 2015: $15,6862015Assets 2016: $20,060Liabilities 2016: $3,999Net Assets 2016: $16,0612016Assets 2017: $122,490Liabilities 2017: $106,350Net Assets 2017: $16,1402017Assets 2018: $60,184Liabilities 2018: $44,266Net Assets 2018: $15,9182018Assets 2019: $129,654Liabilities 2019: $112,455Net Assets 2019: $17,1992019Assets 2020: $168,749Liabilities 2020: $153,253Net Assets 2020: $15,4962020Assets 2021: $170,132Liabilities 2021: $152,553Net Assets 2021: $17,5792021Assets 2022: $282,652Liabilities 2022: $258,470Net Assets 2022: $24,1822022Assets 2023: $309,242Liabilities 2023: $278,306Net Assets 2023: $30,9362023Assets 2024: $350,894Liabilities 2024: $319,230Net Assets 2024: $31,6642024

Highlighted filing

2023

Assets$309,242
Liabilities$278,306
Net Assets$30,936
Open 2023 Filing

Operations Trend

Revenue Growth38th percentile

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

$300K$200K$100K$0-$100KRevenue 2011: $42,794Expenses 2011: $35,903Net Income 2011: $6,8912011Revenue 2012: $51,088Expenses 2012: $24,706Net Income 2012: $26,3822012Revenue 2014: $55,464Expenses 2014: $31,178Net Income 2014: $24,2862014Revenue 2015: $95,812Expenses 2015: $76,364Net Income 2015: $19,4482015Revenue 2016: $71,873Expenses 2016: $71,498Net Income 2016: $3752016Revenue 2017: $67,886Expenses 2017: $67,807Net Income 2017: $792017Revenue 2018: $55,829Expenses 2018: $56,051Net Income 2018: -$2222018Revenue 2019: $35,307Expenses 2019: $34,026Net Income 2019: $1,2812019Revenue 2020: $10,972Expenses 2020: $12,675Net Income 2020: -$1,7032020Revenue 2021: $126,720Expenses 2021: $124,637Net Income 2021: $2,0832021Revenue 2022: $180,194Expenses 2022: $173,591Net Income 2022: $6,6032022Revenue 2023: $170,742Expenses 2023: $163,988Net Income 2023: $6,7542023Revenue 2024: $244,549Expenses 2024: $243,821Net Income 2024: $7282024

Highlighted filing

2023

Revenue$170,742
Expenses$163,988
Net Income$6,754
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 13, 2024
Return Version
2023v5.0
Gross Receipts
$207,782
Mission and Program Overview

Mission

To promote the advancement of business and community in macomb county, michigan.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$240,132$154,204▼ $85,928
Prepaid Expenses and Deferred Charges-$12,796-
Total Assets$282,652$309,242▲ $26,590
Other Assets Total$42,520$142,242▲ $99,722
Liabilities
Deferred Revenue$257,998$273,241▲ $15,243
Accounts Payable and Accrued Expenses$472$5,065▲ $4,593
Total Liabilities$258,470$278,306▲ $19,836
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$24,182$30,936▲ $6,754
Total Net Assets Fund Balance$24,182$30,936▲ $6,754
Total Liabilities and Net Assets / Fund Balance$282,652$309,242▲ $26,590

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$15,124--
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Jeremiah HoehnerPresident
Dan HepplerDirector
Kevin ChandlerDirector
Lori DoughtyDirector
Maria Silamianos ShermanDirector
Steve GurinDirector
Steve RemiasDirector
Kelley LovatiCEO
Pamela MayTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$170,742
Change in Net Assets
$6,754
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$136,265
Other Expenses$27,723
Total Fundraising Expense$17,804
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$116,600-$116,600
Office Expenses--$17,804$17,804
Other Employee Benefits-$10,061-$10,061
Payroll Taxes-$9,604-$9,604
Fees for Services Other-$645-$645
Other Expenses$40--$40
Total Functional Expenses$9,274$136,910$17,804$163,988
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$207,782
Fundraising Direct Expenses$37,040
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Other Events$138,819$138,819-$138,819
Macomb Hall of$47,673$47,673$30,165$17,508
Total Events$207,782$207,782$37,040$170,742
Political and Lobbying Activity
Political campaign activity
No
Lobbying 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
Backup withholding compliance
No
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
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

“A copy is provided to the board.”

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

“Executive & finance committees of the board of directors regularly monitor the foundation's activities to ensure transparency in the foundation's dealings. To date, there have been no such conflicts.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
The Macomb Foundation
EIN
38-2972671
Phone
5864937600
Address
28 FIRST STREET SUITE B, MOUNT CLEMENS, MI 48043

Signing Officer

Name
Kelley Lovati
Title
CEO
Phone
5864937600
Signed
2024-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kelley Lovati
Legal Domicile
Mi
Voting Board Members
9
Independent Board Members
8
Employees
0

Preparer

Firm
Lotito & Lazzara Pc
Address
22525 HALL RD STE A, MACOMB, MI 48042
Preparer
Bradley Bringard
Phone
5864680200
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“To promote the advancement of business and community in macomb county, michigan.”

Raw XML Appendix344 raw XML fields

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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO PROMOTE THE ADVANCEMENT OF BUSINESS AND COMMUNITY IN MACOMB COUNTY, MICHIGAN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY IS PROVIDED TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EXECUTIVE & FINANCE COMMITTEES OF THE BOARD OF DIRECTORS REGULARLY MONITOR THE FOUNDATION'S ACTIVITIES TO ENSURE TRANSPARENCY IN THE FOUNDATION'S DEALINGS. TO DATE, THERE HAVE BEEN NO SUCH CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
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
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ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$309,242
Liabilities
$278,306
Net assets
$30,936
Revenue
$170,742
Expenses
$163,988
Net income
$6,754
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.51$3.19$0.32$2.45$2.44$0.01
2023Detailed filing. Detailed filing data is available for this year.$3.09$2.78$0.31$1.71$1.64$0.07
2022Detailed filing. Detailed filing data is available for this year.$2.83$2.58$0.24$1.80$1.74$0.07
2021Detailed filing. Detailed filing data is available for this year.$1.70$1.53$0.18$1.27$1.25$0.02
2020Detailed filing. Detailed filing data is available for this year.$1.69$1.53$0.15$0.11$0.13$0.02
2019Detailed filing. Detailed filing data is available for this year.$1.30$1.12$0.17$0.35$0.34$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.60$0.44$0.16$0.56$0.56$0.00
2017Detailed filing. Detailed filing data is available for this year.$1.22$1.06$0.16$0.68$0.68$0.00
2016Detailed filing. Detailed filing data is available for this year.$0.20$0.04$0.16$0.72$0.71$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.42$0.26$0.16$0.96$0.76$0.19
2014Detailed filing. Detailed filing data is available for this year.$0.21$0.25$0.04$0.55$0.31$0.24
2012Summary only. Only limited summary data is available for this year.$0.33$0.93$0.60$0.51$0.25$0.26
2011Summary only. Only limited summary data is available for this year.$0.31$1.17$0.87$0.43$0.36$0.07