Civic Intelligence

Midland Charter Initiative

990 • Fiscal year 2017 • EIN 38-3184678

Jul 01, 2016 to Jun 30, 2017 • Filed on Nov 09, 2017

Organization Profile

View Organization Page

4653 Bailey Bridge RoadMidland, MI 48640

(989) 496-2403

Siviq Scores

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

Liabilities / Assets

87th percentile

0.73x

Higher debt load relative to assets than 87% of similar nonprofits.

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

Liabilities / Revenue

76th percentile

0.46x

Higher debt load relative to revenue than 76% of similar nonprofits.

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

Net Margin

27th percentile

-5.3%

Higher net margin than 27% of similar nonprofits.

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

Top Officer Pay

51st percentile

$65,797

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 4.5% of source-year revenue.

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

Asset Growth

36th percentile

-0.6%

Faster asset growth than 36% of similar nonprofits.

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

Revenue Growth

23rd percentile

-7.8%

Faster revenue growth than 23% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets87th percentile

Assets

Down

$909,383

Down $5,300 (-0.6%) from 2016

Net Assets

Down

$242,844

Down $77,703 (-24%) from 2016

Liabilities

Up

$666,539

Up $72,403 (+12%) from 2016

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin27th percentile

Revenue

Down

$1,462,693

Down $123,668 (-7.8%) from 2016

Expenses

Down

$1,540,396

Down $170,189 (-9.9%) from 2016

Net Income

Up

-$77,703

Up $46,521 (+37%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth36th percentile

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

$1.5M$1.0M$500K$0Assets 2011: $1,135,282Liabilities 2011: $371,245Net Assets 2011: $764,0372011Assets 2012: $1,129,229Liabilities 2012: $376,489Net Assets 2012: $752,7402012Assets 2013: $1,089,174Liabilities 2013: $344,315Net Assets 2013: $744,8592013Assets 2014: $1,030,097Liabilities 2014: $371,895Net Assets 2014: $658,2022014Assets 2015: $971,680Liabilities 2015: $526,909Net Assets 2015: $444,7712015Assets 2016: $914,683Liabilities 2016: $594,136Net Assets 2016: $320,5472016Assets 2017: $909,383Liabilities 2017: $666,539Net Assets 2017: $242,8442017Assets 2018: $958,851Liabilities 2018: $718,612Net Assets 2018: $240,2392018

Highlighted filing

2017

Assets$909,383
Liabilities$666,539
Net Assets$242,844
Open 2017 Filing

Operations Trend

Revenue Growth23rd percentile

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

$2.0M$1.0M$0-$1.0MExpenses 2011: $1,720,6672011Expenses 2012: $1,815,9012012Revenue 2013: $1,855,258Expenses 2013: $1,863,139Net Income 2013: -$7,8812013Revenue 2014: $1,703,362Expenses 2014: $1,790,050Net Income 2014: -$86,6882014Revenue 2015: $1,564,793Expenses 2015: $1,778,224Net Income 2015: -$213,4312015Revenue 2016: $1,586,361Expenses 2016: $1,710,585Net Income 2016: -$124,2242016Revenue 2017: $1,462,693Expenses 2017: $1,540,396Net Income 2017: -$77,7032017Revenue 2018: $1,485,235Expenses 2018: $1,487,840Net Income 2018: -$2,6052018

Highlighted filing

2017

Revenue$1,462,693
Expenses$1,540,396
Net Income-$77,703
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 9, 2017
Return Version
2016v3.0
Gross Receipts
$1,462,693
Mission and Program Overview

Mission

To promote and encourage research into and of systems of instruction and elementary and secondary education and schools to promote, foster, carry on, sponsor, ecourage or participate in any activities designed to investigate, provide for, promote or encourage research into methods designed to operate, acquire, establish, sponsor, and/or develop instructional and/or educational systems and/or programs.

To promote and encourage research into and of systems of instruction and elementary and secondary education and schools to promote, foster, carry on, sponsor, encourage or participate in any activities designed to investigate, provide for, promote or encourage research into methods designed to operate, acquire, establish, sponsor, and/or develop instructional and/or educational systems and/or programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$702,199$643,270▼ $58,929
Accounts Receivable$189,346$231,833▲ $42,487
Cash and Non-Interest-Bearing Accounts$23,138$25,875▲ $2,737
Prepaid Expenses and Deferred Charges-$8,405-
Total Assets$914,683$909,383▼ $5,300
Liabilities
Mortgage Notes Payable Secured by Investment Property$575,626$661,334▲ $85,708
Accounts Payable and Accrued Expenses$18,510$5,205▼ $13,305
Total Liabilities$594,136$666,539▲ $72,403
Net Assets / Fund Balance
Unrestricted Net Assets$220,547$142,844▼ $77,703
Temporarily Rstr Net Assets$100,000$100,000→ $0
Total Net Assets Fund Balance$320,547$242,844▼ $77,703
Total Liabilities and Net Assets / Fund Balance$914,683$909,383▼ $5,300

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$568,058$967,479$1,535,537
Equipment$15,212$68,166$83,378
Land$60,000-$60,000
Compensation and Service Providers
Top Officer Pay51st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kathryn ShickPresidentFT$64,733$1,064$65,797

Board Members and Trustees

NameTitle
Edward ShafferTrustee
Richard CaldwellTrustee
John DateSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$1,223,758
Program Service Revenue
$185,000
Investment Income
$0
Other Revenue
$53,935
All Other Contributions
$1,015
Change in Net Assets
$-77,703

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,462,693
Total Revenue per Audited Statements
$1,462,693
Total Revenue per Form 990
$1,462,693
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,090,126
Other Expenses$450,270
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$820,127$89,357-$909,484
Other Employee Benefits$68,142$7,495-$75,637
Payroll Taxes$60,171$6,686-$66,857
Depreciation Depletion$56,035$6,226-$62,261
Occupancy$38,567$19,969-$58,536
Pension Plan Contributions$32,674$3,495-$36,169
All Other Expenses$23,685$8,306-$31,991
Interest-$31,900-$31,900
Advertising$31,336--$31,336
Office Expenses$19,471--$19,471
Other Expenses$12,939--$12,939
Fees for Services Other-$11,949-$11,949
Fees for Services Accounting-$10,575-$10,575
Fees for Services Legal-$8,929-$8,929
Conferences and Meetings$5,448$60-$5,508
Current Officers, Directors, Trustees, and Key Employees-$1,979-$1,979
Total Functional Expenses$1,333,470$206,926$0$1,540,396

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,540,396
Total Expenses per Audited Statements$1,540,396
Total Expenses per Form 990$1,540,396
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
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

“Form 990 is provided to board for their review prior to filing.”

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

“Members are asked to abstain from any activity where a known conflict of interest exists.”

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

“Comparables of other non-profit and educational corporations are reviewed for the midland charter initiative board of directors to use as a basis in determining salary.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Midland Charter Initiative
EIN
38-3184678
Phone
9894962403
Address
4653 BAILEY BRIDGE ROAD, MIDLAND, MI 48640

Signing Officer

Name
Kathryn Shick
Title
President
Phone
9894962403
Signed
2017-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathryn Shick
Formed
1994
Legal Domicile
Mi
Voting Board Members
4
Independent Board Members
3
Employees
49
Volunteers
95

Preparer

Firm
Yeo & Yeo Pc
Address
6018 EASTMAN AVE, MIDLAND, MI 48640-2518
Preparer
David R Youngstrom
Phone
9896316060
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To promote and encourage research into and of systems of instruction and elementary and secondary education and schools to promote, foster, carry on, sponsor, encourage or participate in any activities designed to investigate, provide for, promote or encourage research into methods designed to operate, acquire, establish, sponsor, and/or develop instructional and/or educational systems and/or programs.”

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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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IRS990ScheduleD/EquipmentGrp/DepreciationAmt068166
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO PROMOTE AND ENCOURAGE RESEARCH INTO AND OF SYSTEMS OF INSTRUCTION AND ELEMENTARY AND SECONDARY EDUCATION AND SCHOOLS TO PROMOTE, FOSTER, CARRY ON, SPONSOR, ENCOURAGE OR PARTICIPATE IN ANY ACTIVITIES DESIGNED TO INVESTIGATE, PROVIDE FOR, PROMOTE OR ENCOURAGE RESEARCH INTO METHODS DESIGNED TO OPERATE, ACQUIRE, ESTABLISH, SPONSOR, AND/OR DEVELOP INSTRUCTIONAL AND/OR EDUCATIONAL SYSTEMS AND/OR PROGRAMS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS PROVIDED TO BOARD FOR THEIR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEMBERS ARE ASKED TO ABSTAIN FROM ANY ACTIVITY WHERE A KNOWN CONFLICT OF INTEREST EXISTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPARABLES OF OTHER NON-PROFIT AND EDUCATIONAL CORPORATIONS ARE REVIEWED FOR THE MIDLAND CHARTER INITIATIVE BOARD OF DIRECTORS TO USE AS A BASIS IN DETERMINING SALARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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 19
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ReturnHeader/BuildTS02017-02-10 21:41:12Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0KATHRYN SHICK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09894962403
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-09
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0YEO & YEO PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06018 EASTMAN AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MIDLAND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
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ReturnHeader/PreparerPersonGrp/PhoneNum09896316060
ReturnHeader/PreparerPersonGrp/PreparationDt02017-11-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID R YOUNGSTROM
ReturnHeader/ReturnTs02017-11-13T16:14:24-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$909,383
Liabilities
$666,539
Net assets
$242,844
Revenue
$1,462,693
Expenses
$1,540,396
Net income
-$77,703
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018Detailed filing. Detailed filing data is available for this year.$0.96$0.72$0.24$1.49$1.49$0.00
2017Detailed filing. Detailed filing data is available for this year.$0.91$0.67$0.24$1.46$1.54$0.08
2016Summary only. Only limited summary data is available for this year.$0.91$0.59$0.32$1.59$1.71$0.12
2015Detailed filing. Detailed filing data is available for this year.$0.97$0.53$0.44$1.56$1.78$0.21
2014Detailed filing. Detailed filing data is available for this year.$1.03$0.37$0.66$1.70$1.79$0.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.09$0.34$0.74$1.86$1.86$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.13$0.38$0.75$1.82
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.14$0.37$0.76$1.72