Civic Intelligence

Midland Charter Initiative

990 • Fiscal year 2018 • EIN 38-3184678

Jul 01, 2017 to Jun 30, 2018 • Filed on Mar 21, 2019

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

0.75x

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

78th percentile

0.48x

Higher debt load relative to revenue than 78% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

39th percentile

-0.2%

Higher net margin than 39% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

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.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

64th percentile

5.4%

Faster asset growth than 64% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

44th percentile

1.5%

Faster revenue growth than 44% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets87th percentile

Assets

Up

$958,851

Up $49,468 (+5.4%) from 2017

Net Assets

Down

$240,239

Down $2,605 (-1.1%) from 2017

Liabilities

Up

$718,612

Up $52,073 (+7.8%) from 2017

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin39th percentile

Revenue

Up

$1,485,235

Up $22,542 (+1.5%) from 2017

Expenses

Down

$1,487,840

Down $52,556 (-3.4%) from 2017

Net Income

Up

-$2,605

Up $75,098 (+97%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth64th 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

2018

Assets$958,851
Liabilities$718,612
Net Assets$240,239
Open 2018 Filing

Operations Trend

Revenue Growth44th 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

2018

Revenue$1,485,235
Expenses$1,487,840
Net Income-$2,605
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Mar 21, 2019
Return Version
2017v2.3
Gross Receipts
$1,485,235
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$643,270$584,992▼ $58,278
Accounts Receivable$231,833$242,941▲ $11,108
Cash and Non-Interest-Bearing Accounts$25,875$130,918▲ $105,043
Prepaid Expenses and Deferred Charges$8,405--
Total Assets$909,383$958,851▲ $49,468
Liabilities
Mortgage Notes Payable Secured by Investment Property$661,334$664,974▲ $3,640
Accounts Payable and Accrued Expenses$5,205$53,638▲ $48,433
Total Liabilities$666,539$718,612▲ $52,073
Net Assets / Fund Balance
Unrestricted Net Assets$142,844$140,239▼ $2,605
Temporarily Rstr Net Assets$100,000$100,000→ $0
Total Net Assets Fund Balance$242,844$240,239▼ $2,605
Total Liabilities and Net Assets / Fund Balance$909,383$958,851▲ $49,468

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$515,885$1,019,652$1,535,537
Equipment$9,107$74,271$83,378
Land$60,000-$60,000
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$1,169,326
Program Service Revenue
$265,879
Investment Income
$0
Other Revenue
$50,030
All Other Contributions
$25,021
Change in Net Assets
$-2,605

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,485,235
Total Revenue per Audited Statements
$1,485,235
Total Revenue per Form 990
$1,485,235
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,030,627
Other Expenses$457,213
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$789,547$87,727-$877,274
Other Employee Benefits$66,992$7,444-$74,436
Payroll Taxes$56,266$6,252-$62,518
Depreciation Depletion$52,450$5,828-$58,278
Occupancy$49,862$1,343-$51,205
Interest$40,888$4,543-$45,431
Advertising$34,204$3,800-$38,004
Office Expenses$29,050$3,228-$32,278
All Other Expenses$24,938$843-$25,781
Other Expenses$19,665$5,549-$19,665
Fees for Services Legal$15,123$1,680-$16,803
Pension Plan Contributions$14,759$1,640-$16,399
Fees for Services Other$10,473$1,164-$11,637
Fees for Services Accounting$8,243$916-$9,159
Conferences and Meetings$2,733$304-$3,037
Total Functional Expenses$1,355,579$132,261$0$1,487,840

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,487,840
Total Expenses per Audited Statements$1,487,840
Total Expenses per Form 990$1,487,840
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
2019-03-21
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
47
Volunteers
91

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.”

Form 990, Page 12, Part XII, Line 2C

“Board of directors receives a draft copy of the 990 annually and reviews and approves the return prior to filing.”

Raw XML Appendix394 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 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/ExplanationTxt5BOARD OF DIRECTORS RECEIVES A DRAFT COPY OF THE 990 ANNUALLY AND REVIEWS AND APPROVES THE RETURN PRIOR TO FILING.
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
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ReturnHeader/BusinessOfficerGrp/SignatureDt02019-03-21
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ReturnHeader/ReturnTs02019-04-23T11:16:27-05:00
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ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$958,851
Liabilities
$718,612
Net assets
$240,239
Revenue
$1,485,235
Expenses
$1,487,840
Net income
-$2,605
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