Civic Intelligence

Michigan Seed Potato Association

990 • Fiscal year 2017 • EIN 38-3302973

Jun 01, 2016 to May 31, 2017 • Filed on Jan 31, 2017

Organization ProfileWWW.MIPOTATO.COM/MSPA
PO Box 1865Gaylord, MI 49734

(989) 732-4433

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.05x

Higher debt load relative to assets than 73% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

77th percentile

0.05x

Higher debt load relative to revenue than 77% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

32nd percentile

-3.8%

Higher net margin than 32% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

95th percentile

$63,753

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 28.5% of source-year revenue.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

36th percentile

-4.2%

Faster asset growth than 36% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

50th percentile

1.1%

Faster revenue growth than 50% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Down

$230,277

Down $10,164 (-4.2%) from 2016

Net Assets

Up

$218,616

Up $2,382 (+1.1%) from 2016

Liabilities

Down

$11,661

Down $12,546 (-52%) from 2016

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin32nd percentile

Revenue

Up

$223,620

Up $2,431 (+1.1%) from 2016

Expenses

Up

$232,121

Up $9,900 (+4.5%) from 2016

Net Income

Down

-$8,501

Down $7,469 (-724%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth36th percentile

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

$300K$200K$100K$0Assets 2010: $222,241Liabilities 2010: $22,103Net Assets 2010: $200,1382010Assets 2011: $220,934Liabilities 2011: $9,289Net Assets 2011: $211,6452011Assets 2012: $220,435Liabilities 2012: $6,658Net Assets 2012: $213,7772012Assets 2013: $237,326Liabilities 2013: $16,028Net Assets 2013: $221,2982013Assets 2014: $235,479Liabilities 2014: $11,486Net Assets 2014: $223,9932014Assets 2015: $241,119Liabilities 2015: $20,260Net Assets 2015: $220,8592015Assets 2016: $240,441Liabilities 2016: $24,207Net Assets 2016: $216,2342016Assets 2017: $230,277Liabilities 2017: $11,661Net Assets 2017: $218,6162017Assets 2018: $244,395Liabilities 2018: $20,069Net Assets 2018: $224,3262018Assets 2019: $235,923Liabilities 2019: $24,804Net Assets 2019: $211,1192019Assets 2020: $237,203Liabilities 2020: $15,631Net Assets 2020: $221,5722020Assets 2021: $247,839Liabilities 2021: $7,001Net Assets 2021: $240,8382021Assets 2022: $227,628Liabilities 2022: $8,646Net Assets 2022: $218,9822022Assets 2023: $204,229Liabilities 2023: $13,345Net Assets 2023: $190,8842023

Highlighted filing

2017

Assets$230,277
Liabilities$11,661
Net Assets$218,616
Open 2017 Filing

Operations Trend

Revenue Growth50th percentile

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

$300K$200K$100K$0-$100KRevenue 2010: $201,683Expenses 2010: $185,629Net Income 2010: $16,0542010Expenses 2011: $199,1062011Expenses 2012: $206,8422012Revenue 2013: $218,265Expenses 2013: $210,744Net Income 2013: $7,5212013Revenue 2014: $200,702Expenses 2014: $209,266Net Income 2014: -$8,5642014Revenue 2015: $209,372Expenses 2015: $212,168Net Income 2015: -$2,7962015Revenue 2016: $221,189Expenses 2016: $222,221Net Income 2016: -$1,0322016Revenue 2017: $223,620Expenses 2017: $232,121Net Income 2017: -$8,5012017Revenue 2018: $256,893Expenses 2018: $258,344Net Income 2018: -$1,4512018Revenue 2019: $233,561Expenses 2019: $248,305Net Income 2019: -$14,7442019Revenue 2020: $276,351Expenses 2020: $270,731Net Income 2020: $5,6202020Revenue 2021: $263,812Expenses 2021: $267,245Net Income 2021: -$3,4332021Revenue 2022: $248,848Expenses 2022: $273,198Net Income 2022: -$24,3502022Revenue 2023: $261,692Expenses 2023: $287,714Net Income 2023: -$26,0222023

Highlighted filing

2017

Revenue$223,620
Expenses$232,121
Net Income-$8,501
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2016 to May 31, 2017
Signed
Jan 31, 2017
Return Version
2016v3.0
Gross Receipts
$223,620
Mission and Program Overview

Mission

To function as a seed certifying agency and to carry out educational and scientific activities to further the production and use of improved seed stock.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$160,387$154,825▼ $5,562
Accounts Receivable$57,461$57,301▼ $160
Land, Buildings, and Equipment, Net$19,090$9,930▼ $9,160
Prepaid Expenses and Deferred Charges$1,092$6,976▲ $5,884
Cash and Non-Interest-Bearing Accounts$2,411$1,245▼ $1,166
Total Assets$240,441$230,277▼ $10,164
Liabilities
Accounts Payable and Accrued Expenses$21,590$11,661▼ $9,929
Mortgage Notes Payable Secured by Investment Property$2,617--
Total Liabilities$24,207$11,661▼ $12,546
Net Assets / Fund Balance
Unrestricted Net Assets$216,234$218,616▲ $2,382
Total Net Assets Fund Balance$216,234$218,616▲ $2,382
Total Liabilities and Net Assets / Fund Balance$240,441$230,277▼ $10,164

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$9,930$35,868$45,798
Equipment-$8,196$8,196
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jeff AxfordExecutive DiFT$60,183$3,570$63,753

Board Members and Trustees

NameTitle
Greg IottPresident
Larry JensenDirector
Matt SkogmanDirector
Rodney KruegerDirector
Elizabeth DormanEx-officio
Mike WenkelEx-officio
Gary WaltherSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$275
Program Service Revenue
$221,789
Investment Income
$1,556
Other Revenue
$0
Change in Net Assets
$-8,501
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$122,117
Other Expenses$110,004
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$48,731$12,183-$60,914
Other Salaries and Wages$39,867--$39,867
Depreciation Depletion$8,368$792-$9,160
Occupancy$4,301$4,047-$8,348
Other Expenses$7,880$754-$7,880
Payroll Taxes$6,778$932-$7,710
Other Employee Benefits$7,129$491-$7,620
All Other Expenses$3,254$3,843-$7,097
Pension Plan Contributions$5,280$726-$6,006
Travel$5,734--$5,734
Fees for Services Accounting$1,224$4,436-$5,660
Conferences and Meetings$3,713--$3,713
Advertising$2,384--$2,384
Office Expenses$1,500--$1,500
Insurance$437$765-$1,202
Interest$22--$22
Total Functional Expenses$203,152$28,969$0$232,121
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
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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

“A certified public accounting firm prepares the form 990 and related compiled financial statements. A draft of each document is provided to the executive director and the executive committee for review. After changes to documents are made, if necessary, each member of the board of directors receives these documents for review and formal approval. The executive director then signs the form 8879-eo authorizing the cpa to electronically file the return.”

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

“A director who believes that he/she may be perceived as having a conflict of interest in a discussion or decision must disclose that conflict to the group making the decision. On an annual basis, all members of the board of directors and the executive director shall inform, in writing, the president of the board of all reportable conflicts.”

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

“The executive director's compensation is determined annually by the board of directors after considering factors such as job performance, job adherence and budget constraints.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Michigan Seed Potato Association
EIN
38-3302973
Phone
9897324433
Address
PO BOX 1865, GAYLORD, MI 49734

Signing Officer

Name
Jeff Axford
Title
Executive Director
Phone
9897324433
Signed
2017-01-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Greg Iott
Formed
1998
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
5
Employees
2

Preparer

Firm
H&s Companies Pc
Address
4970 CASCADE RD SE, GRAND RAPIDS, MI 49546
Preparer
Curt a Reppuhn CPA
Phone
6169569016
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The accounting standard on accounting for uncertainty in income taxes addresses the determination whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, the association may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. Examples of tax positions include the tax- exempt status of the association and various positions related to the potential sources of unrelated business taxable income (ubit). The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. There were no unrecognized tax benefits identified or recorded as liabilities for fiscal year ended may 31, 2017.”

Raw XML AppendixShowing 400 of 406 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESSES THE DETERMINATION WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THAT GUIDANCE, THE ASSOCIATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX- EXEMPT STATUS OF THE ASSOCIATION AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME (UBIT). THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THERE WERE NO UNRECOGNIZED TAX BENEFITS IDENTIFIED OR RECORDED AS LIABILITIES FOR FISCAL YEAR ENDED MAY 31, 2017.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A CERTIFIED PUBLIC ACCOUNTING FIRM PREPARES THE FORM 990 AND RELATED COMPILED FINANCIAL STATEMENTS. A DRAFT OF EACH DOCUMENT IS PROVIDED TO THE EXECUTIVE DIRECTOR AND THE EXECUTIVE COMMITTEE FOR REVIEW. AFTER CHANGES TO DOCUMENTS ARE MADE, IF NECESSARY, EACH MEMBER OF THE BOARD OF DIRECTORS RECEIVES THESE DOCUMENTS FOR REVIEW AND FORMAL APPROVAL. THE EXECUTIVE DIRECTOR THEN SIGNS THE FORM 8879-EO AUTHORIZING THE CPA TO ELECTRONICALLY FILE THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A DIRECTOR WHO BELIEVES THAT HE/SHE MAY BE PERCEIVED AS HAVING A CONFLICT OF INTEREST IN A DISCUSSION OR DECISION MUST DISCLOSE THAT CONFLICT TO THE GROUP MAKING THE DECISION. ON AN ANNUAL BASIS, ALL MEMBERS OF THE BOARD OF DIRECTORS AND THE EXECUTIVE DIRECTOR SHALL INFORM, IN WRITING, THE PRESIDENT OF THE BOARD OF ALL REPORTABLE CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE DIRECTOR'S COMPENSATION IS DETERMINED ANNUALLY BY THE BOARD OF DIRECTORS AFTER CONSIDERING FACTORS SUCH AS JOB PERFORMANCE, JOB ADHERENCE AND BUDGET CONSTRAINTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$230,277
Liabilities
$11,661
Net assets
$218,616
Revenue
$223,620
Expenses
$232,121
Net income
-$8,501
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$2.04$0.13$1.91$2.62$2.88$0.26
2022Detailed filing. Detailed filing data is available for this year.$2.28$0.09$2.19$2.49$2.73$0.24
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.48$0.07$2.41$2.64$2.67$0.03
2020Detailed filing. Detailed filing data is available for this year.$2.37$0.16$2.22$2.76$2.71$0.06
2019Detailed filing. Detailed filing data is available for this year.$2.36$0.25$2.11$2.34$2.48$0.15
2018Detailed filing. Detailed filing data is available for this year.$2.44$0.20$2.24$2.57$2.58$0.01
2017Detailed filing. Detailed filing data is available for this year.$2.30$0.12$2.19$2.24$2.32$0.09
2016Detailed filing. Detailed filing data is available for this year.$2.40$0.24$2.16$2.21$2.22$0.01
2015Detailed filing. Detailed filing data is available for this year.$2.41$0.20$2.21$2.09$2.12$0.03
2014Detailed filing. Detailed filing data is available for this year.$2.35$0.11$2.24$2.01$2.09$0.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.37$0.16$2.21$2.18$2.11$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.20$0.07$2.14$2.07
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.21$0.09$2.12$1.99
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.22$0.22$2.00$2.02$1.86$0.16