Civic Intelligence

Michigan Biosciences Industry Assoc

990 • Fiscal year 2014 • EIN 38-3142021

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 09, 2015

Organization ProfileWWW.MICHBIO.ORG
3520 Green Court Suite 450Ann Arbor, MI 48105-1579

(734) 527-9150

Siviq Scores

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

Liabilities / Assets

96th percentile

1.00x

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

2014 filings • 501(c)6 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

90th percentile

0.32x

Higher debt load relative to revenue than 90% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Source year 2014

Net Margin

26th percentile

-6.2%

Higher net margin than 26% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Source year 2014

Top Officer Pay

98th percentile

$125,000

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 26.5% of source-year revenue.

2014 filings • 501(c)6 • <$500k nonprofits • Source year 2014

Asset Growth

80th percentile

26%

Faster asset growth than 80% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

14th percentile

-22%

Faster revenue growth than 14% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$152,690

Up $31,091 (+26%) from 2013

Net Assets

Down

-$25

Down $18,823 (-100%) from 2013

Liabilities

Up

$152,715

Up $49,914 (+49%) from 2013

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin26th percentile

Revenue

Down

$471,363

Down $132,398 (-22%) from 2013

Expenses

Down

$500,655

Down $115,552 (-19%) from 2013

Net Income

Down

-$29,292

Down $16,846 (-135%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

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

$600K$400K$200K$0-$200KAssets 2010: $84,855Liabilities 2010: $87,584Net Assets 2010: -$2,7292010Assets 2011: $75,238Liabilities 2011: $100,934Net Assets 2011: -$25,6962011Assets 2012: $121,465Liabilities 2012: $90,221Net Assets 2012: $31,2442012Assets 2013: $121,599Liabilities 2013: $102,801Net Assets 2013: $18,7982013Assets 2014: $152,690Liabilities 2014: $152,715Net Assets 2014: -$252014Assets 2015: $120,219Liabilities 2015: $94,922Net Assets 2015: $25,2972015Assets 2016: $201,620Liabilities 2016: $84,471Net Assets 2016: $117,1492016Assets 2017: $260,121Liabilities 2017: $63,278Net Assets 2017: $196,8432017Assets 2018: $306,232Liabilities 2018: $93,038Net Assets 2018: $213,1942018Assets 2019: $290,567Liabilities 2019: $36,206Net Assets 2019: $254,3612019Assets 2020: $391,819Liabilities 2020: $5,917Net Assets 2020: $385,9022020Assets 2021: $489,894Liabilities 2021: $33,120Net Assets 2021: $456,7742021Assets 2022: $519,497Liabilities 2022: $37,768Net Assets 2022: $481,7292022Assets 2023: $445,723Liabilities 2023: $14,376Net Assets 2023: $431,3472023Assets 2024: $403,951Liabilities 2024: $26,882Net Assets 2024: $377,0692024

Highlighted filing

2014

Assets$152,690
Liabilities$152,715
Net Assets-$25
Open 2014 Filing

Operations Trend

Revenue Growth14th percentile

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

$1.0M$500K$0-$500KExpenses 2010: $565,4692010Expenses 2011: $519,0302011Expenses 2012: $546,2462012Revenue 2013: $603,761Expenses 2013: $616,207Net Income 2013: -$12,4462013Revenue 2014: $471,363Expenses 2014: $500,655Net Income 2014: -$29,2922014Revenue 2015: $465,582Expenses 2015: $403,921Net Income 2015: $61,6612015Revenue 2016: $475,637Expenses 2016: $414,789Net Income 2016: $60,8482016Revenue 2017: $589,117Expenses 2017: $509,648Net Income 2017: $79,4692017Revenue 2018: $576,280Expenses 2018: $559,929Net Income 2018: $16,3512018Revenue 2019: $597,651Expenses 2019: $606,484Net Income 2019: -$8,8332019Revenue 2020: $618,460Expenses 2020: $486,919Net Income 2020: $131,5412020Revenue 2021: $631,783Expenses 2021: $560,915Net Income 2021: $70,8682021Revenue 2022: $710,410Expenses 2022: $685,457Net Income 2022: $24,9532022Revenue 2023: $770,986Expenses 2023: $821,369Net Income 2023: -$50,3832023Revenue 2024: $703,979Expenses 2024: $798,858Net Income 2024: -$94,8792024

Highlighted filing

2014

Revenue$471,363
Expenses$500,655
Net Income-$29,292
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 9, 2015
Return Version
2014v5.0
Gross Receipts
$471,363
Mission and Program Overview

Mission

To drive life sciences industry growth in michigan by providing its members with networking & educational opportunities, recruitement, and information services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$58,297$116,278▲ $57,981
Savings and Temporary Cash Investments$50,000$22,006▼ $27,994
Prepaid Expenses and Deferred Charges-$8,814-
Cash and Non-Interest-Bearing Accounts$13,302$4,938▼ $8,364
Land, Buildings, and Equipment, Net-$654-
Total Assets$121,599$152,690▲ $31,091
Liabilities
Accounts Payable and Accrued Expenses$68,132$76,658▲ $8,526
Deferred Revenue$12,260$50,000▲ $37,740
Other Liabilities$22,409$26,057▲ $3,648
Total Liabilities$102,801$152,715▲ $49,914
Net Assets / Fund Balance
Unrestricted Net Assets$18,798$-25▼ $18,823
Total Net Assets Fund Balance$18,798$-25▼ $18,823
Total Liabilities and Net Assets / Fund Balance$121,599$152,690▲ $31,091

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$654$116$770
Compensation and Service Providers
Top Officer Pay98th percentile

Employees

NameTitleBaseTotal
Stephen RapundaloPresident$125,000$125,000

Board Members and Trustees

NameTitle
Kevin MccurrenVice Chair
David ZimmermanVice Chairma
Arik AndersonDirector
Charles Hasemann PhdDirector
Christopher SteinDirector
Dale GroganDirector
David Serota PhdDirector
George WilsonDirector
John Jh Schwarz MdDirector
Kevin McleodDirector
Ned StaeblerDirector
Paul MorrisDirector
Sanjay GuptaDirector
Tim MaylebenDirector
Michael HagenChariman
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$466,124
Investment Income
$10
Other Revenue
$5,229
Change in Net Assets
$-29,292
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$261,858
Other Expenses$238,797
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$148,707
Conferences and Meetings---$112,158
Comp Disqual Persons---$87,498
Payroll Taxes---$20,393
Travel---$18,100
Fees for Services Lobbying---$16,969
Occupancy---$15,703
All Other Expenses---$12,835
Office Expenses---$11,079
Information Technology---$10,822
Other Employee Benefits---$5,260
Other Expenses---$3,669
Fees for Services Accounting---$2,088
Fees for Services Other---$1,751
Advertising---$1,520
Insurance---$1,176
Depreciation Depletion---$116
Total Functional Expenses$0$0$0$500,655
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
In-house lobbying only
No
Subject to proxy tax
Yes

Reported Spending and Taxes

Line ItemAmount
Total Nondeductible Lobbying and Political Cost$21,494
Current Year Nondeductible Lobbying and Political Cost$16,969
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Mastercard Comerica Mastercard$26,057
Payroll Liabilities-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Other officer compensation reviewed
Yes
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 6

“There is only one class of membership but the membership dues are determined by the type of business category.”

Form 990, Page 6, Part VI, Line 11B

“The form 990 is reviewed first by the finance committee. Once the finance committee has approved the return, it is then forwarded to the board of directors for approval and signature.”

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

“For each interest disclosed to the chairman of the board of directors, the chairman will determine whether to (a) take no action; (b) assure full disclosure to the board of directors and other individuals covered by the policy; (c) ask the person to recuse from participation in related discussions or decisions within the organization; or (d) ask the person to resign from his or her position in the organization or, if the person refuses to resign, become subject to possible removal in accordance with the organization's removal procedures.”

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

“First a market research is conducted for comparable salaries. The results of the market research are reviewed by the compensation committee which then makes a recommendation for compensation to the board for approval.”

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

“First a market research is conducted for comparable salaries. The results of the market research are reviewed by the compensation committee which then makes a recommendation for compensation to the board for approval.”

Form 990, Page 6, Part VI, Line 19

“The governing documents are made available to the public through the organization's website.”

Filing and Contact Details

Filer

Filer Name
Michigan Biosciences Industry
EIN
38-3142021
Phone
7345279150
Address
3520 GREEN COURT SUITE 450, ANN ARBOR, MI 48105-1579
Doing Business As
Michbio

Signing Officer

Name
Stephen Rapundalo
Title
President
Phone
7345279150
Signed
2015-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen Rapundalo
Formed
1993
Legal Domicile
Mi
Voting Board Members
15
Independent Board Members
15
Employees
5

Preparer

Firm
Pietrasiuk Kelley & Kelley Pc
Address
2395 S HURON PKWY STE 100, ANN ARBOR, MI 48104-5170
Preparer
Todd T Kelley
Phone
7349718500
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Change in reserve for bad debt 60,469 timing in grant recognition 50,000 there was a change to the recognition of revenue on the timing of a grant management fee. During 2013, the fee was in included in program revenue. During 2014, the fee was moved to unearned revenue.”

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IRS990/ProgramServiceRevenueGrp/Desc2AFFINITY PROGRAMS
IRS990/ProgramServiceRevenueGrp/Desc3ADVERTISING
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt219085
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt325835
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt410000
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IRS990/PYSalariesCompEmpBnftPaidAmt0291554
IRS990/PYTotalExpensesAmt0616207
IRS990/PYTotalRevenueAmt0603761
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MASTERCARD COMERICA MASTERCARD
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PAYROLL LIABILITIES
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0654
IRS990ScheduleD/TotalLiabilityAmt026057
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE IS ONLY ONE CLASS OF MEMBERSHIP BUT THE MEMBERSHIP DUES ARE DETERMINED BY THE TYPE OF BUSINESS CATEGORY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED FIRST BY THE FINANCE COMMITTEE. ONCE THE FINANCE COMMITTEE HAS APPROVED THE RETURN, IT IS THEN FORWARDED TO THE BOARD OF DIRECTORS FOR APPROVAL AND SIGNATURE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FOR EACH INTEREST DISCLOSED TO THE CHAIRMAN OF THE BOARD OF DIRECTORS, THE CHAIRMAN WILL DETERMINE WHETHER TO (A) TAKE NO ACTION; (B) ASSURE FULL DISCLOSURE TO THE BOARD OF DIRECTORS AND OTHER INDIVIDUALS COVERED BY THE POLICY; (C) ASK THE PERSON TO RECUSE FROM PARTICIPATION IN RELATED DISCUSSIONS OR DECISIONS WITHIN THE ORGANIZATION; OR (D) ASK THE PERSON TO RESIGN FROM HIS OR HER POSITION IN THE ORGANIZATION OR, IF THE PERSON REFUSES TO RESIGN, BECOME SUBJECT TO POSSIBLE REMOVAL IN ACCORDANCE WITH THE ORGANIZATION'S REMOVAL PROCEDURES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FIRST A MARKET RESEARCH IS CONDUCTED FOR COMPARABLE SALARIES. THE RESULTS OF THE MARKET RESEARCH ARE REVIEWED BY THE COMPENSATION COMMITTEE WHICH THEN MAKES A RECOMMENDATION FOR COMPENSATION TO THE BOARD FOR APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FIRST A MARKET RESEARCH IS CONDUCTED FOR COMPARABLE SALARIES. THE RESULTS OF THE MARKET RESEARCH ARE REVIEWED BY THE COMPENSATION COMMITTEE WHICH THEN MAKES A RECOMMENDATION FOR COMPENSATION TO THE BOARD FOR APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC THROUGH THE ORGANIZATION'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CHANGE IN RESERVE FOR BAD DEBT 60,469 TIMING IN GRANT RECOGNITION 50,000 THERE WAS A CHANGE TO THE RECOGNITION OF REVENUE ON THE TIMING OF A GRANT MANAGEMENT FEE. DURING 2013, THE FEE WAS IN INCLUDED IN PROGRAM REVENUE. DURING 2014, THE FEE WAS MOVED TO UNEARNED REVENUE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
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 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9
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IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0ANN ARBOR
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd048105
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IRS990/WebsiteAddressTxt0WWW.MICHBIO.ORG
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ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0STEPHEN RAPUNDALO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07345279150
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-11-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MICHIGAN BIOSCIENCES INDUSTRY
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0MICH
ReturnHeader/Filer/EIN0383142021
ReturnHeader/Filer/PhoneNum07345279150
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ReturnHeader/Filer/USAddress/ZIPCd0481051579
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0383393542
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PIETRASIUK KELLEY & KELLEY PC

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$152,690
Liabilities
$152,715
Net assets
-$25
Revenue
$471,363
Expenses
$500,655
Net income
-$29,292
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.04$0.27$3.77$7.04$7.99$0.95
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.46$0.14$4.31$7.71$8.21$0.50
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.19$0.38$4.82$7.10$6.85$0.25
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.90$0.33$4.57$6.32$5.61$0.71
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.92$0.06$3.86$6.18$4.87$1.32
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.91$0.36$2.54$5.98$6.06$0.09
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.06$0.93$2.13$5.76$5.60$0.16
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.60$0.63$1.97$5.89$5.10$0.79
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.02$0.84$1.17$4.76$4.15$0.61
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.20$0.95$0.25$4.66$4.04$0.62
2014Detailed filing. Detailed filing data is available for this year.$1.53$1.53$0.00$4.71$5.01$0.29
2013Detailed filing. Detailed filing data is available for this year.$1.22$1.03$0.19$6.04$6.16$0.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.21$0.90$0.31$5.46
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.75$1.01$0.26$5.19
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.85$0.88$0.03$5.65
Peer Organizations

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