Civic Intelligence

Traverse City Convention and Visitors Bureau Education Foundati

990 • Fiscal year 2023 • EIN 38-3223846

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 01, 2024

Organization Profile
101 W Grandview PkwyTraverse City, MI 49684

(231) 947-1120

Siviq Scores

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

Liabilities / Assets

99th percentile

2.59x

Higher debt load relative to assets than 99% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

100th percentile

28.11x

Higher debt load relative to revenue than 100% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

1st percentile

-482%

Higher net margin than 1% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

43rd percentile

1.9%

Faster asset growth than 43% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

47th percentile

4.8%

Faster revenue growth than 47% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets99th percentile

Assets

Up

$1,168,113

Up $22,230 (+1.9%) from 2022

Net Assets

Down

-$1,855,138

Down $518,983 (-39%) from 2022

Liabilities

Up

$3,023,251

Up $541,213 (+22%) from 2022

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Up

$107,562

Up $4,907 (+4.8%) from 2022

Expenses

Up

$626,545

Up $161,053 (+35%) from 2022

Net Income

Down

-$518,983

Down $156,146 (-43%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

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

$4.0M$2.0M$0-$2.0M-$4.0MAssets 2010: $1,203,171Liabilities 2010: $571,721Net Assets 2010: $631,4502010Assets 2011: $1,163,636Liabilities 2011: $543,099Net Assets 2011: $620,5372011Assets 2012: $1,138,057Liabilities 2012: $522,637Net Assets 2012: $615,4202012Assets 2013: $1,131,526Liabilities 2013: $503,519Net Assets 2013: $628,0072013Assets 2014: $1,076,884Liabilities 2014: $473,303Net Assets 2014: $603,5812014Assets 2015: $1,039,344Liabilities 2015: $439,748Net Assets 2015: $599,5962015Assets 2016: $919,053Liabilities 2016: $661,798Net Assets 2016: $257,2552016Assets 2017: $940,824Liabilities 2017: $766,110Net Assets 2017: $174,7142017Assets 2018: $911,129Liabilities 2018: $1,037,478Net Assets 2018: -$126,3492018Assets 2019: $928,953Liabilities 2019: $1,337,785Net Assets 2019: -$408,8322019Assets 2020: $971,879Liabilities 2020: $1,664,541Net Assets 2020: -$692,6622020Assets 2021: $942,173Liabilities 2021: $1,915,491Net Assets 2021: -$973,3182021Assets 2022: $1,145,883Liabilities 2022: $2,482,038Net Assets 2022: -$1,336,1552022Assets 2023: $1,168,113Liabilities 2023: $3,023,251Net Assets 2023: -$1,855,1382023Assets 2024: $1,099,718Liabilities 2024: $3,349,634Net Assets 2024: -$2,249,9162024

Highlighted filing

2023

Assets$1,168,113
Liabilities$3,023,251
Net Assets-$1,855,138
Open 2023 Filing

Operations Trend

Revenue Growth47th percentile

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

$1.0M$500K$0-$500K-$1.0MExpenses 2010: $163,0572010Expenses 2011: $144,8782011Expenses 2012: $142,3392012Revenue 2013: $158,058Expenses 2013: $145,471Net Income 2013: $12,5872013Revenue 2014: $178,979Expenses 2014: $203,405Net Income 2014: -$24,4262014Revenue 2015: $130,861Expenses 2015: $134,846Net Income 2015: -$3,9852015Revenue 2016: $128,891Expenses 2016: $342,665Net Income 2016: -$213,7742016Revenue 2017: $212,633Expenses 2017: $295,174Net Income 2017: -$82,5412017Revenue 2018: $96,395Expenses 2018: $397,458Net Income 2018: -$301,0632018Revenue 2019: $101,935Expenses 2019: $384,418Net Income 2019: -$282,4832019Revenue 2020: $82,948Expenses 2020: $366,778Net Income 2020: -$283,8302020Revenue 2021: $90,070Expenses 2021: $370,726Net Income 2021: -$280,6562021Revenue 2022: $102,655Expenses 2022: $465,492Net Income 2022: -$362,8372022Revenue 2023: $107,562Expenses 2023: $626,545Net Income 2023: -$518,9832023Revenue 2024: $244,896Expenses 2024: $639,674Net Income 2024: -$394,7782024

Highlighted filing

2023

Revenue$107,562
Expenses$626,545
Net Income-$518,983
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 1, 2024
Return Version
2023v5.0
Gross Receipts
$107,562
Mission and Program Overview

Mission

Educate the public about tourism in the grand traverse area

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,122,865$1,137,123▲ $14,258
Accounts Receivable$9,317$23,211▲ $13,894
Prepaid Expenses and Deferred Charges$3,786$4,463▲ $677
Cash and Non-Interest-Bearing Accounts$9,915$3,316▼ $6,599
Total Assets$1,145,883$1,168,113▲ $22,230
Liabilities
Other Liabilities$2,280,603$2,865,239▲ $584,636
Mortgage Notes Payable Secured by Investment Property$188,700$150,422▼ $38,278
Accounts Payable and Accrued Expenses$12,735$7,590▼ $5,145
Total Liabilities$2,482,038$3,023,251▲ $541,213
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,336,155$-1,855,138▼ $518,983
Total Net Assets Fund Balance$-1,336,155$-1,855,138▼ $518,983
Total Liabilities and Net Assets / Fund Balance$1,145,883$1,168,113▲ $22,230

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$548,911$867,429$1,416,340
Land$395,677-$395,677
Equipment$180,260$66,878$247,138
Leasehold Improvements$2,787$67,759$70,546
Other Land Buildings$9,488$9,470$18,958
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Frederick HellerChair
Justin MortierVice Chair
Chris MacinnesTrustee
Ron RobinsonTrustee
Jonathan PackSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$107,538
Investment Income
$5
Other Revenue
$19
Change in Net Assets
$-518,983
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$626,545
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
Interest-$243,005-$243,005
Fees for Services Management-$134,096-$134,096
Depreciation Depletion-$60,135-$60,135
Occupancy-$14,550-$14,550
Insurance-$5,534-$5,534
Other Expenses-$1,873-$1,873
Office Expenses-$387-$387
All Other Expenses-$20-$20
Total Functional Expenses$0$626,545$0$626,545
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
Payable to Related Organization$2,865,239
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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, Page 6, Part VI, Line 7A

“The board of directors for the related tax exempt 501(c) (6) organization, the traverse city convention & visitors bureau, elect from among themselves those who will serve on the education foundation's board of trustees.”

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

“Form 990 is reviewed by the president when presented by the foundation's auditing and tax preparation firm and made available to the members of the board on request.”

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

“Conflicts of interest are reviewed annually as well as on an as needed basis during a regularly scheduled meeting of the governing board.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Traverse City Convention and
EIN
38-3223846
Phone
2319471120
Address
101 W GRANDVIEW PKWY, TRAVERSE CITY, MI 49684

Signing Officer

Name
Jonathan Pack
Title
Secretary/treasurer
Phone
2319471120
Signed
2024-07-01

Organization Details

Principal Officer
Frederick Heller
Formed
1995
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Tobin & Co Pc
Address
2301 GARFIELD RD N, TRAVERSE CITY, MI 49686
Preparer
Jonathan J Poortenga
Phone
2319470151
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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS FOR THE RELATED TAX EXEMPT 501(C) (6) ORGANIZATION, THE TRAVERSE CITY CONVENTION & VISITORS BUREAU, ELECT FROM AMONG THEMSELVES THOSE WHO WILL SERVE ON THE EDUCATION FOUNDATION'S BOARD OF TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY THE PRESIDENT WHEN PRESENTED BY THE FOUNDATION'S AUDITING AND TAX PREPARATION FIRM AND MADE AVAILABLE TO THE MEMBERS OF THE BOARD ON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONFLICTS OF INTEREST ARE REVIEWED ANNUALLY AS WELL AS ON AN AS NEEDED BASIS DURING A REGULARLY SCHEDULED MEETING OF THE GOVERNING BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 7A
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 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0MARKETING
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0TRAVERSE CITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd0496842252
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
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IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
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IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0true
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0LEASE AGREEMENT
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1COST ACCOUNTING
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2PROMISSORY NOTE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0TC CONVENTION & VISITORS BUREAU
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1TC CONVENTION & VISITORS BUREAU
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2TC CONVENTION & VISITORS BUREAU
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IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1O
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IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/EOYAmt01168113
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0626545
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0626545
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02482038
IRS990/TotalLiabilitiesEOYAmt03023251
IRS990/TotalLiabilitiesGrp/BOYAmt02482038
IRS990/TotalLiabilitiesGrp/EOYAmt03023251
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1336155
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1855138
IRS990/TotalProgramServiceRevenueAmt0107538
IRS990/TotalRevenueGrp/ExclusionAmt0107557
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0107562
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01168113
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JONATHAN PACK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02319471120
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-07-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TRAVERSE CITY CONVENTION AND
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0VISITORS BUREAU EDUCATION FOUNDATI
ReturnHeader/Filer/BusinessNameControlTxt0TRAV
ReturnHeader/Filer/EIN0383223846
ReturnHeader/Filer/PhoneNum02319471120
ReturnHeader/Filer/USAddress/AddressLine1Txt0101 W GRANDVIEW PKWY
ReturnHeader/Filer/USAddress/CityNm0TRAVERSE CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd049684
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0382595646
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0TOBIN & CO PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02301 GARFIELD RD N
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0TRAVERSE CITY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd049686
ReturnHeader/PreparerPersonGrp/PhoneNum02319470151
ReturnHeader/PreparerPersonGrp/PreparationDt02024-07-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JONATHAN J POORTENGA
ReturnHeader/ReturnTs02024-08-05T10:39:06-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,168,113
Liabilities
$3,023,251
Net assets
-$1,855,138
Revenue
$107,562
Expenses
$626,545
Net income
-$518,983
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.10$3.35$2.25$0.24$0.64$0.39
2023Detailed filing. Detailed filing data is available for this year.$1.17$3.02$1.86$0.11$0.63$0.52
2022Detailed filing. Detailed filing data is available for this year.$1.15$2.48$1.34$0.10$0.47$0.36
2021Detailed filing. Detailed filing data is available for this year.$0.94$1.92$0.97$0.09$0.37$0.28
2020Detailed filing. Detailed filing data is available for this year.$0.97$1.66$0.69$0.08$0.37$0.28
2019Detailed filing. Detailed filing data is available for this year.$0.93$1.34$0.41$0.10$0.38$0.28
2018Detailed filing. Detailed filing data is available for this year.$0.91$1.04$0.13$0.10$0.40$0.30
2017Detailed filing. Detailed filing data is available for this year.$0.94$0.77$0.17$0.21$0.30$0.08
2016Detailed filing. Detailed filing data is available for this year.$0.92$0.66$0.26$0.13$0.34$0.21
2015Detailed filing. Detailed filing data is available for this year.$1.04$0.44$0.60$0.13$0.13$0.00
2014Detailed filing. Detailed filing data is available for this year.$1.08$0.47$0.60$0.18$0.20$0.02
2013Detailed filing. Detailed filing data is available for this year.$1.13$0.50$0.63$0.16$0.15$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.14$0.52$0.62$0.14
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.16$0.54$0.62$0.14
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.20$0.57$0.63$0.16
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2023 filings • 501(c)3 • $1M-$5M nonprofits