Civic Intelligence

Saginaw Future Inc.

990 • Fiscal year 2020 • EIN 38-3021995

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 11, 2021

Organization ProfileWWW.SAGINAWFUTURE.COM

View Organization Page

515 N Washington 3rd FloorSaginaw, MI 48607

(989) 754-8222

Siviq Scores

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

Liabilities / Assets

46th percentile

0.13x

Higher debt load relative to assets than 46% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

24th percentile

0.06x

Higher debt load relative to revenue than 24% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

22nd percentile

-7.8%

Higher net margin than 22% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

88th percentile

$292,749

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 5.8% of source-year revenue.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

13th percentile

-4.8%

Faster asset growth than 13% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

94th percentile

107%

Faster revenue growth than 94% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets46th percentile

Assets

Down

$2,461,362

Down $124,067 (-4.8%) from 2019

Net Assets

Down

$2,134,542

Down $354,788 (-14%) from 2019

Liabilities

Up

$326,820

Up $230,721 (+240%) from 2019

Revenue And Expenses
Liabilities / Revenue24th percentileNet Margin22nd percentile

Revenue

Up

$5,032,116

Up $2,606,746 (+107%) from 2019

Expenses

Up

$5,423,335

Up $3,929,632 (+263%) from 2019

Net Income

Down

-$391,219

Down $1,322,886 (-142%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $1,656,862Liabilities 2011: $72,563Net Assets 2011: $1,584,2992011Assets 2012: $1,259,946Liabilities 2012: $63,124Net Assets 2012: $1,196,8222012Assets 2013: $2,160,889Liabilities 2013: $47,855Net Assets 2013: $2,113,0342013Assets 2014: $1,791,516Liabilities 2014: $56,717Net Assets 2014: $1,734,7992014Assets 2015: $1,647,282Liabilities 2015: $90,149Net Assets 2015: $1,557,1332015Assets 2016: $2,516,448Liabilities 2016: $72,592Net Assets 2016: $2,443,8562016Assets 2017: $2,054,272Liabilities 2017: $97,303Net Assets 2017: $1,956,9692017Assets 2018: $1,682,396Liabilities 2018: $159,027Net Assets 2018: $1,523,3692018Assets 2019: $2,585,429Liabilities 2019: $96,099Net Assets 2019: $2,489,3302019Assets 2020: $2,461,362Liabilities 2020: $326,820Net Assets 2020: $2,134,5422020Assets 2021: $1,790,398Liabilities 2021: $64,800Net Assets 2021: $1,725,5982021Assets 2022: $3,095,959Liabilities 2022: $368,096Net Assets 2022: $2,727,8632022Assets 2023: $2,552,304Liabilities 2023: $371,502Net Assets 2023: $2,180,8022023Assets 2024: $2,625,752Liabilities 2024: $944,905Net Assets 2024: $1,680,8472024

Highlighted filing

2020

Assets$2,461,362
Liabilities$326,820
Net Assets$2,134,542
Open 2020 Filing

Operations Trend

Revenue Growth94th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $688,730Expenses 2011: $988,174Net Income 2011: -$299,4442011Revenue 2012: $573,156Expenses 2012: $960,633Net Income 2012: -$387,4772012Revenue 2013: $1,982,802Expenses 2013: $1,066,590Net Income 2013: $916,2122013Revenue 2014: $729,193Expenses 2014: $1,107,428Net Income 2014: -$378,2352014Revenue 2015: $725,943Expenses 2015: $1,074,016Net Income 2015: -$348,0732015Revenue 2016: $2,044,489Expenses 2016: $1,170,683Net Income 2016: $873,8062016Revenue 2017: $687,972Expenses 2017: $1,201,037Net Income 2017: -$513,0652017Revenue 2018: $805,604Expenses 2018: $1,220,289Net Income 2018: -$414,6852018Revenue 2019: $2,425,370Expenses 2019: $1,493,703Net Income 2019: $931,6672019Revenue 2020: $5,032,116Expenses 2020: $5,423,335Net Income 2020: -$391,2192020Revenue 2021: $2,941,341Expenses 2021: $3,389,994Net Income 2021: -$448,6532021Revenue 2022: $2,439,442Expenses 2022: $1,382,576Net Income 2022: $1,056,8662022Revenue 2023: $810,953Expenses 2023: $1,397,452Net Income 2023: -$586,4992023Revenue 2024: $1,102,645Expenses 2024: $1,636,540Net Income 2024: -$533,8952024

Highlighted filing

2020

Revenue$5,032,116
Expenses$5,423,335
Net Income-$391,219
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 11, 2021
Return Version
2020v4.0
Gross Receipts
$5,032,116
Mission and Program Overview

Mission

To increase economic opportunity in saginaw county ensuring long term growth and prosperity by fostering investment primarily in advanced manufacturing, medical technology, renewable energy, high tech industries, and professional services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$1,578,339$1,061,060▼ $517,279
Savings and Temporary Cash Investments$686,449$598,027▼ $88,422
Cash and Non-Interest-Bearing Accounts$200$439,551▲ $439,351
Accounts Receivable$73,571$83,074▲ $9,503
Prepaid Expenses and Deferred Charges$16,886$14,187▼ $2,699
Land, Buildings, and Equipment, Net$5,103$4,151▼ $952
Total Assets$2,585,429$2,461,362▼ $124,067
Other Assets Total$224,881$261,312▲ $36,431
Liabilities
Other Liabilities-$144,481-
Deferred Revenue-$109,780-
Accounts Payable and Accrued Expenses$96,099$72,559▼ $23,540
Total Liabilities$96,099$326,820▲ $230,721
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,628,240$1,070,560▼ $557,680
Net Assets Without Donor Restrictions$861,090$1,063,982▲ $202,892
Total Net Assets Fund Balance$2,489,330$2,134,542▼ $354,788
Total Liabilities and Net Assets / Fund Balance$2,585,429$2,461,362▼ $124,067

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,151$84,259$88,410
Other Assets Org$261,312--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$224,881-▲ $38,577-$261,312
2019$190,587-▲ $36,356-$224,881
2018$209,503-▼ $16,820-$190,587
2017$183,324-▲ $28,109-$209,503
2016$170,407-▲ $14,667-$183,324
Compensation and Service Providers
Top Officer Pay88th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joann CraryPresidentFT$199,314$93,435$292,749

Board Members and Trustees

NameTitle
Mark ThompsonChair
Dan DrallePast Chair
Kelley Peatross Ph DVice Chair
Brian KeelerDirector
Bridget SmithDirector
Chad WurtzelDirector
Chris RishkoDirector
Ed LesniakDirector
Heather GallegosDirector
Jerry Geno EdsDirector
Jim TerryDirector
Jim Van TiflinDirector
Kevin AlbostaDirector
Kurt KuckDirector
Michael WebsterDirector
Neal W BishopDirector
Paul W FurloDirector
Robert BellemanDirector
Stephanie DugganDirector
Tim MoralesDirector
Torrie McafeeDirector
Veronica HornDirector
Walter BakerDirector
Phil DembowskiSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$4,884,484
Program Service Revenue
$143,944
Investment Income
$3,688
Other Revenue
$0
All Other Contributions
$516,851
Change in Net Assets
$-391,219

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,032,116
Revenue Not Reported on Form 990
$36,431
Total Revenue per Audited Statements
$5,068,547
Total Revenue per Form 990
$5,032,116
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$4,127,175
Salaries, Compensation, and Employee Benefits$1,104,260
Other Expenses$191,900
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$4,127,175--$4,127,175
Other Salaries and Wages$155,791$466,487-$622,278
Comp Disqual Persons-$241,689-$241,689
Other Employee Benefits$13,095$100,615-$113,710
Office Expenses$19,648$61,705-$81,353
Pension Plan Contributions$11,407$57,571-$68,978
Payroll Taxes$11,421$46,184-$57,605
Advertising$8,195$44,632-$52,827
Fees for Services Other-$17,350-$17,350
Travel$5,461$1,281-$6,742
Other Expenses$3,435$5,517-$5,517
Fees for Services Accounting$1,268$3,883-$5,151
Information Technology$4,993--$4,993
Insurance-$3,580-$3,580
Depreciation Depletion-$3,082-$3,082
Total Functional Expenses$4,361,889$1,061,446$0$5,423,335

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,423,335
Total Expenses per Audited Statements$5,423,335
Total Expenses per Form 990$5,423,335
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
----$3,435,675
----$691,500
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
Ppp Loan$144,481
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
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 audited financial statements from which the form 990 is prepared are reviewed and approved by the governing board.”

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

“The organization has a policy in place and conflict of interest document that must be signed annually by the board. This form requires board members to disclose any potential conflicts and act in the best interest of saginaw future inc.”

Form 990, Page 6, Part VI, Line 15A

“The compensation for the president is determined by the budget committee of the board of directors based on an evalution conducted annually by the chair of the budget committee. The budget committee presents their recommendations to the full board for final approval.”

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
Saginaw Future Inc
EIN
38-3021995
Phone
9897548222
Address
515 N WASHINGTON 3RD FLOOR, SAGINAW, MI 48607

Signing Officer

Name
Joann Crary
Title
President
Phone
9897548222
Signed
2021-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joann Crary
Formed
1992
Legal Domicile
Mi
Voting Board Members
25
Independent Board Members
24
Employees
10
Volunteers
20

Preparer

Firm
Gardner Provenzano Thomas & Luplow
Address
PO BOX 6457, SAGINAW, MI 48608
Preparer
Brett a Luplow
Phone
9897903900
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To increase economic opportunity in saginaw county ensuring long term growth and prosperity by fostering investment primarily in advanced manufacturing, medical technology, renewable energy, high tech industries, and professional services.”

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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,461,362
Liabilities
$326,820
Net assets
$2,134,542
Revenue
$5,032,116
Expenses
$5,423,335
Net income
-$391,219
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.63$0.94$1.68$1.10$1.64$0.53
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.55$0.37$2.18$0.81$1.40$0.59
2022Detailed filing. Detailed filing data is available for this year.$3.10$0.37$2.73$2.44$1.38$1.06
2021Detailed filing. Detailed filing data is available for this year.$1.79$0.06$1.73$2.94$3.39$0.45
2020Detailed filing. Detailed filing data is available for this year.$2.46$0.33$2.13$5.03$5.42$0.39
2019Summary only. Only limited summary data is available for this year.$2.59$0.10$2.49$2.43$1.49$0.93
2018Summary only. Only limited summary data is available for this year.$1.68$0.16$1.52$0.81$1.22$0.41
2017Summary only. Only limited summary data is available for this year.$2.05$0.10$1.96$0.69$1.20$0.51
2016Summary only. Only limited summary data is available for this year.$2.52$0.07$2.44$2.04$1.17$0.87
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.65$0.09$1.56$0.73$1.07$0.35
2014Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$1.79$0.06$1.73$0.73$1.11$0.38
2013Detailed filing. Detailed filing data is available for this year.$2.16$0.05$2.11$1.98$1.07$0.92
2012Summary only. Only limited summary data is available for this year.$1.26$0.06$1.20$0.57$0.96$0.39
2011Summary only. Only limited summary data is available for this year.$1.66$0.07$1.58$0.69$0.99$0.30