Civic Intelligence

The Right Place Inc

EIN 38-3262801 • 501(c)6 • Grand Rapids, MI

Profile

The right place is the economic development organization that drives current and long-term economic prosperity in west michigan.

Refreshing map…

125 Ottawa Ave NW Ste 450Grand Rapids, MI 49503-2837

www.rightplace.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

94th percentile

0.82x

Higher debt load relative to assets than 94% of similar nonprofits.

501(c)6 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

83rd percentile

0.89x

Higher debt load relative to revenue than 83% of similar nonprofits.

501(c)6 • $25M-$50M nonprofits • Source year 2024

Net Margin

34th percentile

1.0%

Higher net margin than 34% of similar nonprofits.

501(c)6 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

92nd percentile

$532,841

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 8.3% of source-year revenue.

$25M-$50M nonprofits • Source year 2022

Asset Growth

99th percentile

351%

Faster asset growth than 99% of similar nonprofits.

501(c)6 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

97th percentile

268%

Faster revenue growth than 97% of similar nonprofits.

501(c)6 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Up

$36,829,217

Up $28,657,995 (+351%) from 2023

Liabilities

Up

$30,354,860

Up $28,319,259 (+1391%) from 2023

Net Assets

Up

$6,474,357

Up $338,736 (+5.5%) from 2023

Revenue

Up

$33,920,441

Up $24,695,038 (+268%) from 2023

Expenses

Up

$33,581,705

Up $23,355,749 (+228%) from 2023

Net Income

Up

$338,736

Up $1,339,289 (+134%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$40M$30M$20M$10M$0Assets 2010: $5,343,902Liabilities 2010: $170,221Net Assets 2010: $5,173,6812010Assets 2011: $4,444,146Liabilities 2011: $128,852Net Assets 2011: $4,315,2942011Assets 2012: $3,479,164Liabilities 2012: $210,827Net Assets 2012: $3,268,3372012Assets 2013: $2,200,995Liabilities 2013: $219,615Net Assets 2013: $1,981,3802013Assets 2014: $4,082,908Liabilities 2014: $1,090,977Net Assets 2014: $2,991,9312014Assets 2015: $5,229,674Liabilities 2015: $903,857Net Assets 2015: $4,325,8172015Assets 2016: $6,195,847Liabilities 2016: $893,077Net Assets 2016: $5,302,7702016Assets 2017: $5,632,253Liabilities 2017: $949,866Net Assets 2017: $4,682,3872017Assets 2018: $7,936,775Liabilities 2018: $1,321,535Net Assets 2018: $6,615,2402018Assets 2019: $7,527,576Liabilities 2019: $906,520Net Assets 2019: $6,621,0562019Assets 2020: $8,197,204Liabilities 2020: $1,021,498Net Assets 2020: $7,175,7062020Assets 2021: $10,135,241Liabilities 2021: $1,152,103Net Assets 2021: $8,983,1382021Assets 2022: $8,970,896Liabilities 2022: $1,834,722Net Assets 2022: $7,136,1742022Assets 2023: $8,171,222Liabilities 2023: $2,035,601Net Assets 2023: $6,135,6212023Assets 2024: $36,829,217Liabilities 2024: $30,354,860Net Assets 2024: $6,474,3572024

Highlighted filing

2024

Assets$36,829,217
Liabilities$30,354,860
Net Assets$6,474,357

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$40M$30M$20M$10M$0-$10MExpenses 2010: $3,168,3962010Expenses 2011: $3,287,3912011Revenue 2012: $2,946,859Expenses 2012: $3,895,053Net Income 2012: -$948,1942012Revenue 2013: $2,957,891Expenses 2013: $4,238,560Net Income 2013: -$1,280,6692013Revenue 2014: $5,413,158Expenses 2014: $4,436,127Net Income 2014: $977,0312014Revenue 2015: $6,246,432Expenses 2015: $4,910,861Net Income 2015: $1,335,5712015Revenue 2016: $7,219,755Expenses 2016: $6,242,802Net Income 2016: $976,9532016Revenue 2017: $6,013,788Expenses 2017: $6,634,171Net Income 2017: -$620,3832017Revenue 2018: $9,502,475Expenses 2018: $7,569,622Net Income 2018: $1,932,8532018Revenue 2019: $8,469,231Expenses 2019: $8,463,415Net Income 2019: $5,8162019Revenue 2020: $16,982,064Expenses 2020: $16,627,414Net Income 2020: $354,6502020Revenue 2021: $14,178,677Expenses 2021: $12,371,245Net Income 2021: $1,807,4322021Revenue 2022: $6,457,185Expenses 2022: $8,304,149Net Income 2022: -$1,846,9642022Revenue 2023: $9,225,403Expenses 2023: $10,225,956Net Income 2023: -$1,000,5532023Revenue 2024: $33,920,441Expenses 2024: $33,581,705Net Income 2024: $338,7362024

Highlighted filing

2024

Revenue$33,920,441
Expenses$33,581,705
Net Income$338,736

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$36.8$30.4$6.47$33.9$33.6$0.34
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.17$2.04$6.14$9.23$10.2$1.00
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.97$1.83$7.14$6.46$8.30$1.85
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.1$1.15$8.98$14.2$12.4$1.81
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.20$1.02$7.18$17.0$16.6$0.35
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.53$0.91$6.62$8.47$8.46$0.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.94$1.32$6.62$9.50$7.57$1.93
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.63$0.95$4.68$6.01$6.63$0.62
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.20$0.89$5.30$7.22$6.24$0.98
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.23$0.90$4.33$6.25$4.91$1.34
2014Detailed filing. Detailed filing data is available for this year.$4.08$1.09$2.99$5.41$4.44$0.98
2013Detailed filing. Detailed filing data is available for this year.$2.20$0.22$1.98$2.96$4.24$1.28
2012Summary only. Only limited summary data is available for this year.$3.48$0.21$3.27$2.95$3.90$0.95
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.44$0.13$4.32$3.29
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.34$0.17$5.17$3.17
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Aug 14, 2023
Return Version
2022v5.0
Gross Receipts
$6,457,185
Mission and Program Overview

Mission

The right place is the economic development organization that drives current and long-term economic prosperity in west michigan.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$5,309,735$3,751,976▼ $1,557,759
Savings and Temporary Cash Investments$3,414,734$3,386,089▼ $28,645
Accounts Receivable$513,056$773,837▲ $260,781
Land, Buildings, and Equipment, Net$388,254$270,641▼ $117,613
Cash and Non-Interest-Bearing Accounts$349,548$239,772▼ $109,776
Prepaid Expenses and Deferred Charges$159,914$202,579▲ $42,665
Total Assets$10,135,241$8,970,896▼ $1,164,345
Other Assets Total$0$346,002▲ $346,002
Liabilities
Accounts Payable and Accrued Expenses$807,287$861,509▲ $54,222
Other Liabilities$154,461$522,783▲ $368,322
Deferred Revenue$190,355$450,430▲ $260,075
Total Liabilities$1,152,103$1,834,722▲ $682,619
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,907,948$4,492,561▼ $415,387
Net Assets With Donor Restrictions$4,075,190$2,643,613▼ $1,431,577
Total Net Assets Fund Balance$8,983,138$7,136,174▼ $1,846,964
Total Liabilities and Net Assets / Fund Balance$10,135,241$8,970,896▼ $1,164,345

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$193,146$668,157$861,303
Equipment$77,495$260,039$337,534
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Randy ThelenPresidentFT$408,175$124,666$532,841
Twayne HowardAssistant Treasurer & COOFT$228,348$34,930$263,278
Brent CaseVP AttractionFT$143,164$37,079$180,243
Brad CommentSr VP of Investor RelationsFT$139,866$28,905$168,771
Timothy MrozSr VP of Strategic InitativesFT$141,582$21,361$162,943
Tarita JohnsonSr VP of Talent InitiativesFT$130,892$23,258$154,150
Jane TierneyInterim VP of FinanceFT$127,662$17,550$145,212

Highest Paid Contractors

ContractorServicesLocationCompensation
Grand Rapids Community College Tassell MContracted Client Services622 GODFREY AVENUE SW, Grand Rapids, MI 49503$918,944
Muskegon Community CollegeContracted Client Services221 QUARTERLINE RD, Muskegon, MI 49442$140,255
Montcalm Community CollegeContracted Client Services2800 COLLEGE DR, Sidney, MI 48885$114,162
Hr Select LLCHr Services678 FRONT AVE SUITE 190, Grand Rapids, MI 49504$109,064
Ernst And Young US LLPStrategic Planning171 MONROE AVE NW STE 600, Grand Rapids, MI 49503$103,500
Revenue and Support

Revenue Composition

Contributions and Grants
$2,924,602
Program Service Revenue
$3,499,673
Investment Income
$31,009
Other Revenue
$1,901
All Other Contributions
$1,007,448
Change in Net Assets
$-1,846,964
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,720,092
Other Expenses$3,245,600
Grants and Similar Amounts Paid$338,457
Total Fundraising Expense$259,219
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,259,471$651,848$137,692$3,049,011
Fees for Services Other$1,765,219$206,055$17,400$1,988,674
Current Officers, Directors, Trustees, and Key Employees$253,100$511,349$31,671$796,120
Other Employee Benefits$318,165$137,538$13,021$468,724
Office Expenses$247,200$109,000$8,028$364,228
Grants to Domestic Orgs$338,457--$338,457
Payroll Taxes$185,585$68,824$12,400$266,809
Conferences and Meetings$133,903$22,585$321$156,809
Occupancy$108,172$39,356$7,931$155,459
Travel$98,189$49,209$1,175$148,573
Pension Plan Contributions$78,769$55,916$4,743$139,428
Depreciation Depletion-$117,118$16,284$133,402
Advertising$58,916$7,353-$66,269
Fees for Services Accounting-$50,110-$50,110
Information Technology$12,309$18,922-$31,231
Insurance$12,235$14,218$1,596$28,049
Fees for Services Legal$3,088$6,039$3,432$12,559
Other Expenses$344$-6,886$-597$-7,483
Total Functional Expenses$5,894,760$2,150,170$259,219$8,304,149
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Montcalm Community CollegeSidney, MI501(c)(3)Workforce Training Equipment Grant and Talent Pathways Grant$49,000
West Michigan Construction InstituteGrand Rapids, MI-Workfoce Training Equipment Grant$45,000
West Shore Community CollegeScottville, MI-Workforce Training Equipment Grant$45,000
West Michigan Center for Arts and TechnologyGrand Rapids, MI-Workforce Training Equipment$41,040
Muskegon Community CollegeMuskegon, MI-Workforce Training Equipment Grant$40,000
Grand Rapids Urban LeagueGrand Rapids, MI501(c)(6)Workforce Training Equipment Grant and Talent Pathways Grant$36,000
Feyen Zylstra LLCGrand Rapids, MI501(c)(3)Workforce Training Equipment Grant$30,000
Legacy Precision MoldsGrandville, MI501(c)(3)Industry Implementation Grant$25,000
Lakeshore AdvantageZeeland, MI501(c)(6)Talent Pathways Grant$16,392
Muskegon Area FirstMuskegon, MI-Talent Pathways Grant$9,000
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$522,783
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
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, Part VI, Section B, Line 11B

A draft of the form 990 is reviewed by the right place, inc's interim vp of finance prior to filing.

Form 990, Part VI, Section B, Line 12C

Members of the board of directors must sign a statement concerning potential conflicts of interest. These statements are reviewed by the president who has pertinent knowledge of any such relationships.

Form 990, Part VI, Section B, Line 15

The ceo's compensation is annually reviewed by a committee. The committee is comprised of the current, former, and next chair of the board of directors. They use peformance to established goals and benchmarking of other similar organizations in setting the compensation package. All other staff members are reviewed by their immediate supervisor in november and december. The ceo and senior vice presidents work together on changes in compensation annually. Performance to established goals, and general performance are considered in the staff member evaluations.

Form 990, Part VI, Section C, Line 18

The organization makes its 990 available for public inspection upon request.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policy, and financial statements are made available upon request.

Filing and Contact Details

Filer

Filer Name
The Right Place Inc
EIN
38-3262801
Phone
6167710325
Address
125 OTTAWA AVE NW STE 450, GRAND RAPIDS, MI 49503-2837

Signing Officer

Name
Randy Thelen
Title
President & CEO
Phone
6167710324
Signed
2023-08-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Randy Thelen
Formed
1995
Legal Domicile
Mi
Voting Board Members
44
Independent Board Members
43
Employees
52
Volunteers
40

Preparer

Firm
Doeren Mayhew
Address
56 CESAR E CHAVEZ AVE SW STE 100, GRAND RAPIDS, MI 49503-4078
Preparer
Roxanne M Page
Phone
6162355200
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Product delivery for project consulting work, workshops, user groups,etc.: program service expenses 1,765,219. Management and general expenses 206,055. Fundraising expenses 17,400. Total expenses 1,988,674.

FORM 990, PART XII, LINE 2C:

The finance committee reviews the audit and recommends it to the board for approval. The board of directors approve the audit. There have been no changes in the approval process from the prior year.

Financial Statement Notes

PART X, LINE 2:

The internal revenue service has determined the organization is a not-for-profit organization exempt from income tax under section 501(c)(6) of the internal revenue code. Tax positions taken are assessed for uncertainty and a position may be recorded if a tax position is not likely to be sustained upon examination.

Raw XML AppendixShowing 400 of 1,099 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt0807287
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0861509
IRS990/AccountsReceivableGrp/BOYAmt0513056
IRS990/AccountsReceivableGrp/EOYAmt0773837
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0THE RIGHT PLACE IS THE ECONOMIC DEVELOPMENT ORGANIZATION THAT DRIVES CURRENT AND LONG-TERM ECONOMIC PROSPERITY IN WEST MICHIGAN.
IRS990/AdvertisingGrp/ManagementAndGeneralAmt07353
IRS990/AdvertisingGrp/ProgramServicesAmt058916
IRS990/AdvertisingGrp/TotalAmt066269
IRS990/AllOtherContributionsAmt01007448
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IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0JANE TIERNEY
IRS990/BooksInCareOfDetail/PhoneNum06167710325
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0125 OTTAWA AVE NW STE 450
IRS990/BooksInCareOfDetail/USAddress/CityNm0GRAND RAPIDS
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MI
IRS990/BooksInCareOfDetail/USAddress/ZIPCd049503
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IRS990/CollectionsOfArtInd00
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IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0796120
IRS990/CompensationFromOtherSrcsInd00
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IRS990/CompensationProcessOtherInd01
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IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd01
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IRS990/ContractorCompensationGrp/CompensationAmt2114162
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IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt22800 COLLEGE DR
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IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt4171 MONROE AVE NW STE 600
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IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm1MUSKEGON
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IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm4GRAND RAPIDS
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0MI
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd1MI
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IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt3HR SELECT LLC
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IRS990/ContractorCompensationGrp/ServicesDesc2CONTRACTED CLIENT SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc3HR SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc4STRATEGIC PLANNING
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IRS990/CYContributionsGrantsAmt02924602
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IRS990/CYInvestmentIncomeAmt031009
IRS990/CYOtherExpensesAmt03245600
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IRS990/CYTotalExpensesAmt08304149
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IRS990/CYTotalRevenueAmt06457185
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
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IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/FundraisingAmt016284
IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt0117118
IRS990/DepreciationDepletionGrp/TotalAmt0133402
IRS990/Desc0PEOPLE / TALENT INITIATIVES - ASPIRE TO BE A REGION WHERE EVERYONE CAN ACHIEVE THEIR HIGHEST POTENTIAL. THE RIGHT PLACE TEAM WORKS TOWARD THIS ASPIRATION BY STRATEGIZING WITH REGIONAL TALENT PARTNERS, LEVERAGING OUR BUSINESS NETWORK TO AMPLIFY BEST PRACTICES, AND BENCHMARK AREA TALENT DEVELOPMENT, RETENTION, AND ATTRACTION EFFORTS. PROVIDE OPPORTUNITIES FOR VARIOUS STAKEHOLDERS - COMPANIES ACROSS INDUSTRIES, COMMUNITY - BASED ORGANIZATIONS & PROGRAMS, K-12, POSTSECONDARY INSTITUTIONS, AND OTHERS TO COLLARBORATE TO ATTRACT, RECRUIT, AND RETAIN TALENT IN AN INCLUSIVE ENVIRONMENT WHERE ALL BELONG AND FLOURISH IN WEST MICHIGAN.
IRS990/DescribedInSection501c3Ind00
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IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt052
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/ExpenseAmt0895460
IRS990/FamilyOrBusinessRlnInd00
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IRS990/FeesForServicesAccountingGrp/TotalAmt050110
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IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
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