Civic Intelligence

Great Lakes Center Foundation

990 • Fiscal year 2017 • EIN 38-3106351

Jan 01, 2017 to Dec 31, 2017 • Filed on Oct 16, 2018

1000 Adams Street No 200Bay City, MI 48708

(989) 893-4438

Siviq Scores

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

Liabilities / Assets

25th percentile

0.01x

Higher debt load relative to assets than 25% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

58th percentile

0.15x

Higher debt load relative to revenue than 58% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

4th percentile

-79%

Higher net margin than 4% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

21st percentile

-4.4%

Faster asset growth than 21% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2016 to 2017

Assets

Down

$1,638,198

Down $75,089 (-4.4%) from 2016

Net Assets

Down

$1,623,175

Down $79,791 (-4.7%) from 2016

Liabilities

Up

$15,023

Up $4,702 (+46%) from 2016

Revenue

Up

$100,657

Up $197,917 (+203%) from 2016

Expenses

Up

$180,448

Up $2,848 (+1.6%) from 2016

Net Income

Up

-$79,791

Up $195,069 (+71%) from 2016

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2010: $5,803,518Liabilities 2010: $4,293Net Assets 2010: $5,799,2252010Assets 2011: $5,765,014Liabilities 2011: $1,600Net Assets 2011: $5,763,4142011Assets 2012: $5,739,573Liabilities 2012: $6,550Net Assets 2012: $5,733,0232012Assets 2013: $5,000,273Liabilities 2013: $2,100Net Assets 2013: $4,998,1732013Assets 2014: $2,128,073Liabilities 2014: $28,332Net Assets 2014: $2,099,7412014Assets 2015: $1,988,684Liabilities 2015: $10,858Net Assets 2015: $1,977,8262015Assets 2016: $1,713,287Liabilities 2016: $10,321Net Assets 2016: $1,702,9662016Assets 2017: $1,638,198Liabilities 2017: $15,023Net Assets 2017: $1,623,1752017Assets 2018: $29,289Liabilities 2018: $465Net Assets 2018: $28,8242018Assets 2020: $26,229Liabilities 2020: $02020

Highlighted filing

2017

Assets$1,638,198
Liabilities$15,023
Net Assets$1,623,175

Operations Trend

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

$4.0M$2.0M$0-$2.0M-$4.0MExpenses 2010: $82,2922010Expenses 2011: $48,7682011Expenses 2012: $47,0092012Revenue 2013: -$36,126Expenses 2013: $698,724Net Income 2013: -$734,8502013Revenue 2014: $33,359Expenses 2014: $2,171,636Net Income 2014: -$2,138,2772014Revenue 2015: $104,456Expenses 2015: $226,371Net Income 2015: -$121,9152015Revenue 2016: -$97,260Expenses 2016: $177,600Net Income 2016: -$274,8602016Revenue 2017: $100,657Expenses 2017: $180,448Net Income 2017: -$79,7912017Revenue 2018: $41,043Expenses 2018: $1,635,394Net Income 2018: -$1,594,3512018Revenue 2020: $10Expenses 2020: $40Net Income 2020: -$302020

Highlighted filing

2017

Revenue$100,657
Expenses$180,448
Net Income-$79,791
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Oct 16, 2018
Return Version
2017v2.3
Gross Receipts
$100,657
Mission and Program Overview

Mission

To receive and administer funds for the acquisition and development of real estate in bay county, mi, for the public welfare and betterment of the local community. Uses may include park, walkways, beautification of greenbelts and open spaces, sites for charitable organizations, urban development and enhancement of employment opportunities.

Receives and administers funds for the acquisition and development of real estate.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,548,861$1,487,616▼ $61,245
Savings and Temporary Cash Investments$159,370$147,158▼ $12,212
Prepaid Expenses and Deferred Charges$4,906$3,424▼ $1,482
Accounts Receivable$150$0▼ $150
Total Assets$1,713,287$1,638,198▼ $75,089
Liabilities
Accounts Payable and Accrued Expenses$7,121$12,023▲ $4,902
Deferred Revenue$3,200$3,000▼ $200
Total Liabilities$10,321$15,023▲ $4,702
Net Assets / Fund Balance
Unrestricted Net Assets$1,702,966$1,623,175▼ $79,791
Total Net Assets Fund Balance$1,702,966$1,623,175▼ $79,791
Total Liabilities and Net Assets / Fund Balance$1,713,287$1,638,198▼ $75,089

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$733,358$849,261$1,582,619
Other Land Buildings$446,732$497,812$944,544
Land$296,992-$296,992
Equipment$10,534$160,396$170,930
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jerome YantzPresident
Al McfadyenVice President
Eileen CurtisDirector
Gary LabadieDirector
Mitzi DimitroffDirector
Suzann JensenTreasurer/secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$159
Other Revenue
$100,498
Change in Net Assets
$-79,791

Audited Revenue Reconciliation

Revenue per Audited Statements
$100,657
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$100,657
Total Revenue per Form 990
$100,657
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$180,448
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$62,695--$62,695
Fees for Services Other-$23,872-$23,872
Occupancy$20,008--$20,008
Insurance$10,233--$10,233
Fees for Services Accounting$312$938-$1,250
Other Expenses$28,314$392-$392
Office Expenses-$20-$20
Total Functional Expenses$153,808$26,640$0$180,448

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$180,448
Total Expenses per Audited Statements$180,448
Total Expenses per Form 990$180,448
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
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 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
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The form 990 is shared with the board of directors by either email or at a regular meeting. The board is asked to review and approve the filing of form 990.

Form 990, Part VI, Section B, Line 12C

The board members are provided a copy of the conflict of interest policy and are annually asked to sign a document stating they received and have read the policy. Also, they are required to list conflicts or duality of interest. These forms are reviewed by the secretary. Board members are asked to declare their conflict/duality when votes are taken.

Form 990, Part VI, Section B, Line 15

Great lakes center foundation currently does not have any employees, thus, no compensation is paid.

Form 990, Part VI, Section C, Line 19

The irs form 990 are posted on great lakes center foundation's supported organization's website. Other governing documents are available upon request at great lakes center foundation's offices.

Filing and Contact Details

Filer

Filer Name
Great Lakes Center Foundation
EIN
38-3106351
Phone
9898934438
Address
1000 ADAMS STREET NO 200, BAY CITY, MI 48708

Signing Officer

Name
Jerome Yantz
Title
President
Phone
9898934438
Signed
2018-10-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jerome Yantz
Formed
1992
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Rehmann Robson LLC
Address
5800 GRATIOT PO BOX 2025, SAGINAW, MI 48605-2025
Preparer
Jeffrey E Hert CPA
Phone
9897999580
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Contract services: program service expenses 0. Management and general expenses 23,872. Fundraising expenses 0. Total expenses 23,872.

FORM 990, PART XII, LINE 2C:

Bay area community foundation, the supported organization, is the entity responsible for the selection of an independent accountant and oversees the audit. Great lakes center foundation is included in the consolidated statements.

Financial Statement Notes

PART X, LINE 2:

The foundation has evaluated its income tax filing positions for years 2013 through 2017, the years which remain subject to examination as of december 31, 2017. The foundation concluded that there are no significant uncertain tax positions requiring recognition or disclosure in these consolidated financial statements. The foundation does not expect the total amount of unrecognized tax benefits ("utb") (e.g. Tax deductions, exclusions, or credits claimed or expected to be claimed) to significantly change in the next twelve months. The foundation does not have any amounts accrued for interest and penalties related to utbs at december 31, 2017 or 2016, and is not aware of any claims for such amounts by federal or state income tax authorities.

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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0497812
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0944544
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0100657
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION HAS EVALUATED ITS INCOME TAX FILING POSITIONS FOR YEARS 2013 THROUGH 2017, THE YEARS WHICH REMAIN SUBJECT TO EXAMINATION AS OF DECEMBER 31, 2017. THE FOUNDATION CONCLUDED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION OR DISCLOSURE IN THESE CONSOLIDATED FINANCIAL STATEMENTS. THE FOUNDATION DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS ("UTB") (E.G. TAX DEDUCTIONS, EXCLUSIONS, OR CREDITS CLAIMED OR EXPECTED TO BE CLAIMED) TO SIGNIFICANTLY CHANGE IN THE NEXT TWELVE MONTHS. THE FOUNDATION DOES NOT HAVE ANY AMOUNTS ACCRUED FOR INTEREST AND PENALTIES RELATED TO UTBS AT DECEMBER 31, 2017 OR 2016, AND IS NOT AWARE OF ANY CLAIMS FOR SUCH AMOUNTS BY FEDERAL OR STATE INCOME TAX AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01487616
IRS990ScheduleD/TotalExpensesPerForm990Amt0180448
IRS990ScheduleD/TotalRevenuePerForm990Amt0100657
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0100657
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0180448
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS SHARED WITH THE BOARD OF DIRECTORS BY EITHER EMAIL OR AT A REGULAR MEETING. THE BOARD IS ASKED TO REVIEW AND APPROVE THE FILING OF FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD MEMBERS ARE PROVIDED A COPY OF THE CONFLICT OF INTEREST POLICY AND ARE ANNUALLY ASKED TO SIGN A DOCUMENT STATING THEY RECEIVED AND HAVE READ THE POLICY. ALSO, THEY ARE REQUIRED TO LIST CONFLICTS OR DUALITY OF INTEREST. THESE FORMS ARE REVIEWED BY THE SECRETARY. BOARD MEMBERS ARE ASKED TO DECLARE THEIR CONFLICT/DUALITY WHEN VOTES ARE TAKEN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GREAT LAKES CENTER FOUNDATION CURRENTLY DOES NOT HAVE ANY EMPLOYEES, THUS, NO COMPENSATION IS PAID.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE IRS FORM 990 ARE POSTED ON GREAT LAKES CENTER FOUNDATION'S SUPPORTED ORGANIZATION'S WEBSITE. OTHER GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST AT GREAT LAKES CENTER FOUNDATION'S OFFICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 23,872. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 23,872.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BAY AREA COMMUNITY FOUNDATION, THE SUPPORTED ORGANIZATION, IS THE ENTITY RESPONSIBLE FOR THE SELECTION OF AN INDEPENDENT ACCOUNTANT AND OVERSEES THE AUDIT. GREAT LAKES CENTER FOUNDATION IS INCLUDED IN THE CONSOLIDATED STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0BAY AREA COMMUNITY FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0382418086
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0COMMUNITY FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt09
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01000 ADAMS ST SUITE 200
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0BAY CITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd048708
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt062138
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0BAY AREA COMMUNITY FOUNDATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0J
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MI
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01713287
IRS990/TotalAssetsEOYAmt01638198
IRS990/TotalAssetsGrp/BOYAmt01713287
IRS990/TotalAssetsGrp/EOYAmt01638198
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt026640
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0153808
IRS990/TotalFunctionalExpensesGrp/TotalAmt0180448
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010321
IRS990/TotalLiabilitiesEOYAmt015023
IRS990/TotalLiabilitiesGrp/BOYAmt010321
IRS990/TotalLiabilitiesGrp/EOYAmt015023
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01702966
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01623175
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0153808
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0159
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0100498
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0100657
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01713287
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01638198
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01702966
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01623175
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01000 ADAMS STREET NO 200
IRS990/USAddress/CityNm0BAY CITY
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd048708
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JEROME YANTZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09898934438
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-10-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GREAT LAKES CENTER FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0GREA
ReturnHeader/Filer/EIN0383106351
ReturnHeader/Filer/PhoneNum09898934438
ReturnHeader/Filer/USAddress/AddressLine1Txt01000 ADAMS STREET NO 200
ReturnHeader/Filer/USAddress/CityNm0BAY CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd048708
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId06B63B5289454C84CED47E59C1F0FDA2150384606
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt066.188.13.38
ReturnHeader/FilingSecurityInformation/IPDt02018-10-16

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