Civic Intelligence

Michigan State University College of Law Foundation

990 • Fiscal year 2016 • EIN 38-3254574

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 20, 2017

648 N Shaw Lane Room 368East Lansing, MI 48824

(517) 432-6813

Siviq Scores

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

Liabilities / Assets

60th percentile

0.34x

Higher debt load relative to assets than 60% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

95th percentile

6.33x

Higher debt load relative to revenue than 95% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

1st percentile

-317%

Higher net margin than 1% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

82nd percentile

$326,215

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 45.7% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

10th percentile

-9.0%

Faster asset growth than 10% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

3rd percentile

-63%

Faster revenue growth than 3% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Assets

Down

$13,196,170

Down $1,306,324 (-9.0%) from 2015

Net Assets

Down

$8,673,618

Down $3,570,079 (-29%) from 2015

Liabilities

Up

$4,522,552

Up $2,263,755 (+100%) from 2015

Revenue

Down

$714,208

Down $1,235,919 (-63%) from 2015

Expenses

Down

$2,975,740

Down $483,279 (-14%) from 2015

Net Income

Down

-$2,261,532

Down $752,640 (-50%) from 2015

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2010: $20,666,693Liabilities 2010: $1,821,706Net Assets 2010: $18,844,9872010Assets 2011: $23,648,398Liabilities 2011: $3,234,441Net Assets 2011: $20,413,9572011Assets 2012: $21,912,541Liabilities 2012: $4,653,966Net Assets 2012: $17,258,5752012Assets 2013: $20,425,691Liabilities 2013: $4,882,928Net Assets 2013: $15,542,7632013Assets 2014: $17,460,910Liabilities 2014: $2,363,471Net Assets 2014: $15,097,4392014Assets 2015: $14,502,494Liabilities 2015: $2,258,797Net Assets 2015: $12,243,6972015Assets 2016: $13,196,170Liabilities 2016: $4,522,552Net Assets 2016: $8,673,6182016Assets 2017: $12,008,505Liabilities 2017: $4,325,107Net Assets 2017: $7,683,3982017Assets 2018: $10,389,964Liabilities 2018: $4,435,052Net Assets 2018: $5,954,9122018Assets 2019: $8,460,569Liabilities 2019: $4,705,825Net Assets 2019: $3,754,7442019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2016

Assets$13,196,170
Liabilities$4,522,552
Net Assets$8,673,618

Operations Trend

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

$4.0M$2.0M$0-$2.0M-$4.0MExpenses 2010: $760,0602010Expenses 2011: $2,117,1362011Expenses 2012: $3,276,3982012Revenue 2013: $1,385,562Expenses 2013: $3,998,437Net Income 2013: -$2,612,8752013Revenue 2014: $2,242,848Expenses 2014: $3,415,008Net Income 2014: -$1,172,1602014Revenue 2015: $1,950,127Expenses 2015: $3,459,019Net Income 2015: -$1,508,8922015Revenue 2016: $714,208Expenses 2016: $2,975,740Net Income 2016: -$2,261,5322016Revenue 2017: $1,385,911Expenses 2017: $2,582,415Net Income 2017: -$1,196,5042017Revenue 2018: $1,256,374Expenses 2018: $2,586,591Net Income 2018: -$1,330,2172018Revenue 2019: $895,668Expenses 2019: $2,777,910Net Income 2019: -$1,882,2422019Revenue 2020: $0Expenses 2020: $0Net Income 2020: $02020

Highlighted filing

2016

Revenue$714,208
Expenses$2,975,740
Net Income-$2,261,532
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 20, 2017
Return Version
2015v3.0
Gross Receipts
$714,208
Mission and Program Overview

Mission

Support of a tax exempt college

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$13,019,237$11,781,643▼ $1,237,594
Cash and Non-Interest-Bearing Accounts$16,853$197▼ $16,656
Total Assets$14,502,494$13,196,170▼ $1,306,324
Other Assets Total$1,466,404$1,414,330▼ $52,074
Liabilities
Accounts Payable and Accrued Expenses$1,162,486$3,519,700▲ $2,357,214
Other Liabilities$1,096,311$1,002,852▼ $93,459
Total Liabilities$2,258,797$4,522,552▲ $2,263,755
Net Assets / Fund Balance
Unrestricted Net Assets$11,873,604$8,262,140▼ $3,611,464
Temporarily Rstr Net Assets$370,093$411,478▲ $41,385
Total Net Assets Fund Balance$12,243,697$8,673,618▼ $3,570,079
Total Liabilities and Net Assets / Fund Balance$14,502,494$13,196,170▼ $1,306,324

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$1,414,330--
Other Securities$11,781,643--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Richard C LametiTreasurer/se$222,486$222,486

Board Members and Trustees

NameTitle
Douglas LaycockChair
Maurice G JenkinsPresident
Linda M OrlansVice-chair
Charles a JanssenDirector
Clifton E HaleyDirector
Joan W HowarthDirector
Mark HaasDirector
Scott RomneyDirector
Richard C LametiTreasurer/secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$41,385
Program Service Revenue
$0
Investment Income
$672,823
Other Revenue
$0
All Other Contributions
$41,385
Change in Net Assets
$-2,261,532

Audited Revenue Reconciliation

Revenue per Audited Statements
$714,088
Revenue Not Reported on Financial Statements
$120
Revenue Not Reported on Form 990
$-1,308,547
Total Revenue per Audited Statements
$-594,459
Total Revenue per Form 990
$714,208
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,975,740
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
Payments to Affiliates$2,969,000--$2,969,000
Fees for Services Accounting$6,600--$6,600
Other Expenses$20--$20
Total Functional Expenses$2,975,740$0$0$2,975,740

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,975,740
Expenses per Audited Statements$2,975,620
Total Expenses per Audited Statements$2,975,620
Expenses Not Reported on Financial Statements$120
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
Liabilities Under Trust Agreements$1,002,852
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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

Group one directors consist incumbent members of the board of trustees of the michigan state university college law. Group two directors consist of the dean of the michigan state university college of law and the chief financial officer of the michigan state university college of law.

Form 990, Page 6, Part VI, Line 8B

NO COMMITTEES

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

The treasurer reviews the return prior to releasing the return for electronic filing to the department of the treasury.

Form 990, Page 6, Part VI, Line 19

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Michigan State University College
EIN
38-3254574
Phone
5174326813
Address
648 N SHAW LANE ROOM 368, EAST LANSING, MI 48824

Signing Officer

Name
Richard C Lameti
Title
Treasurer/secretary
Phone
5174326813
Signed
2017-02-20

Organization Details

Principal Officer
Maurice G Jenkins
Formed
1986
Legal Domicile
Mi
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
7

Preparer

Firm
Button Eddy Kolb & Sorrentino Pllc
Address
33515 STATE STREET, FARMINGTON, MI 48335
Preparer
Christopher M Rutowski
Phone
2488931030
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

BOARD OF DIRECTORS

Financial Statement Notes

Schedule D, Page 3, Part X

The foundation is exempt from federal income taxes under section 501(c)(3) of the internal revenue code, except for net income derived from unrelated business activities. The foundation believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain taxpositions that are material to the financial statements. The foundation is no longer subject to examination of its federal retrun of organization exempt from income tax, form 990, filed for years before june 30, 2012.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT FOR NET INCOME DERIVED FROM UNRELATED BUSINESS ACTIVITIES. THE FOUNDATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAXPOSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE FOUNDATION IS NO LONGER SUBJECT TO EXAMINATION OF ITS FEDERAL RETRUN OF ORGANIZATION EXEMPT FROM INCOME TAX, FORM 990, FILED FOR YEARS BEFORE JUNE 30, 2012.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01414330
IRS990ScheduleD/TotalBookValueSecuritiesAmt011781643
IRS990ScheduleD/TotalExpensesPerForm990Amt02975740
IRS990ScheduleD/TotalLiabilityAmt01002852
IRS990ScheduleD/TotalRevenuePerForm990Amt0714208
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0-594459
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02975620
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IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0289162
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1183690
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt026500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt118166
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt010553
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt120630
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOAN W HOWARTH
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1RICHARD C LAMETI
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TREASURER/SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0326215
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1222486
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GROUP ONE DIRECTORS CONSIST INCUMBENT MEMBERS OF THE BOARD OF TRUSTEES OF THE MICHIGAN STATE UNIVERSITY COLLEGE LAW. GROUP TWO DIRECTORS CONSIST OF THE DEAN OF THE MICHIGAN STATE UNIVERSITY COLLEGE OF LAW AND THE CHIEF FINANCIAL OFFICER OF THE MICHIGAN STATE UNIVERSITY COLLEGE OF LAW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO COMMITTEES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE TREASURER REVIEWS THE RETURN PRIOR TO RELEASING THE RETURN FOR ELECTRONIC FILING TO THE DEPARTMENT OF THE TREASURY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO DOCUMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0true
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0MSU COLLEGE OF LAW
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0381358000
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C 3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0COLLEGE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt02
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0368 COLLEGE LAW BUILDING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0EAST LANSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd048824
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0true
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt02969000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1LOAN GUARANTEE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0MSU COLLEGE OF LAW
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1MSU COLLEGE OF LAW
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0B
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1D
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MI
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0370093
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0411478
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt014502494
IRS990/TotalAssetsEOYAmt013196170
IRS990/TotalAssetsGrp/BOYAmt014502494
IRS990/TotalAssetsGrp/EOYAmt013196170
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt041385
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02975740
IRS990/TotalFunctionalExpensesGrp/TotalAmt02975740
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02258797
IRS990/TotalLiabilitiesEOYAmt04522552
IRS990/TotalLiabilitiesGrp/BOYAmt02258797
IRS990/TotalLiabilitiesGrp/EOYAmt04522552
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt012243697
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt08673618
IRS990/TotalOtherCompensationAmt075849
IRS990/TotalProgramServiceExpensesAmt02975740
IRS990/TotalRevenueGrp/ExclusionAmt0672823
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0714208
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt014502494
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt013196170
IRS990/TotReportableCompRltdOrgAmt0472852
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0true
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt011873604
IRS990/UnrestrictedNetAssetsGrp/EOYAmt08262140
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0368 LAW COLLEGE BUILDING
IRS990/USAddress/CityNm0EAST LANSING
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd048824
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0RICHARD C LAMETI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER/SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum05174326813
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MICHIGAN STATE UNIVERSITY COLLEGE
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0OF LAW FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0MICH
ReturnHeader/Filer/EIN0383254574
ReturnHeader/Filer/PhoneNum05174326813
ReturnHeader/Filer/USAddress/AddressLine1Txt0648 N SHAW LANE ROOM 368

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