Civic Intelligence

Michigan Braille Transcribing Fund Inc

990 • Fiscal year 2018 • EIN 38-3387837

Jan 01, 2018 to Dec 31, 2018 • Filed on Mar 11, 2019

Organization ProfileWWW.MI-BRAILLE.ORG
3500 North Elm RoadJackson, MI 49201

(517) 780-5096

Siviq Scores

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

Liabilities / Assets

30th percentile

0.02x

Higher debt load relative to assets than 30% of similar nonprofits.

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

Liabilities / Revenue

50th percentile

0.09x

Higher debt load relative to revenue than 50% of similar nonprofits.

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

Net Margin

6th percentile

-53%

Higher net margin than 6% of similar nonprofits.

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

Top Officer Pay

74th percentile

$112,601

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 15.3% of source-year revenue.

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

Asset Growth

10th percentile

-13%

Faster asset growth than 10% of similar nonprofits.

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

Revenue Growth

24th percentile

-7.9%

Faster revenue growth than 24% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets30th percentile

Assets

Down

$4,152,377

Down $609,061 (-13%) from 2017

Net Assets

Down

$4,083,881

Down $612,593 (-13%) from 2017

Liabilities

Up

$68,496

Up $3,532 (+5.4%) from 2017

Revenue And Expenses
Liabilities / Revenue50th percentileNet Margin6th percentile

Revenue

Down

$736,521

Down $62,959 (-7.9%) from 2017

Expenses

Up

$1,125,074

Up $115,467 (+11%) from 2017

Net Income

Down

-$388,553

Down $178,426 (-85%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth10th percentile

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

$6.0M$4.0M$2.0M$0Assets 2011: $4,299,042Liabilities 2011: $19,112Net Assets 2011: $4,279,9302011Assets 2012: $4,569,116Liabilities 2012: $56,990Net Assets 2012: $4,512,1262012Assets 2013: $4,994,147Liabilities 2013: $131,497Net Assets 2013: $4,862,6502013Assets 2014: $4,916,999Liabilities 2014: $115,920Net Assets 2014: $4,801,0792014Assets 2015: $4,671,217Liabilities 2015: $62,820Net Assets 2015: $4,608,3972015Assets 2016: $4,515,840Liabilities 2016: $44,859Net Assets 2016: $4,470,9812016Assets 2017: $4,761,438Liabilities 2017: $64,964Net Assets 2017: $4,696,4742017Assets 2018: $4,152,377Liabilities 2018: $68,496Net Assets 2018: $4,083,8812018Assets 2019: $4,288,868Liabilities 2019: $146,351Net Assets 2019: $4,142,5172019Assets 2020: $4,114,724Liabilities 2020: $83,223Net Assets 2020: $4,031,5012020Assets 2021: $3,791,443Liabilities 2021: $60,719Net Assets 2021: $3,730,7242021Assets 2022: $3,240,063Liabilities 2022: $114,030Net Assets 2022: $3,126,0332022Assets 2023: $3,561,263Liabilities 2023: $210,410Net Assets 2023: $3,350,8532023Assets 2024: $3,558,406Liabilities 2024: $141,215Net Assets 2024: $3,417,1912024Assets 2025: $3,189,801Liabilities 2025: $100,047Net Assets 2025: $3,089,7542025

Highlighted filing

2018

Assets$4,152,377
Liabilities$68,496
Net Assets$4,083,881
Open 2018 Filing

Operations Trend

Revenue Growth24th percentile

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

$1.5M$1.0M$500K$0-$500K-$1.0MRevenue 2011: $1,103,494Expenses 2011: $1,101,568Net Income 2011: $1,9262011Revenue 2012: $1,072,419Expenses 2012: $1,034,916Net Income 2012: $37,5032012Revenue 2013: $936,142Expenses 2013: $1,161,450Net Income 2013: -$225,3082013Revenue 2014: $1,008,949Expenses 2014: $1,194,028Net Income 2014: -$185,0792014Revenue 2015: $1,026,638Expenses 2015: $1,192,650Net Income 2015: -$166,0122015Revenue 2016: $944,976Expenses 2016: $1,168,152Net Income 2016: -$223,1762016Revenue 2017: $799,480Expenses 2017: $1,009,607Net Income 2017: -$210,1272017Revenue 2018: $736,521Expenses 2018: $1,125,074Net Income 2018: -$388,5532018Revenue 2019: $773,033Expenses 2019: $1,136,440Net Income 2019: -$363,4072019Revenue 2020: $511,442Expenses 2020: $1,093,928Net Income 2020: -$582,4862020Revenue 2021: $561,926Expenses 2021: $1,095,344Net Income 2021: -$533,4182021Revenue 2022: $849,254Expenses 2022: $989,216Net Income 2022: -$139,9622022Revenue 2023: $1,159,678Expenses 2023: $1,173,588Net Income 2023: -$13,9102023Revenue 2024: $939,775Expenses 2024: $1,105,159Net Income 2024: -$165,3842024Revenue 2025: $539,758Expenses 2025: $1,096,421Net Income 2025: -$556,6632025

Highlighted filing

2018

Revenue$736,521
Expenses$1,125,074
Net Income-$388,553
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Mar 11, 2019
Return Version
2018v3.1
Gross Receipts
$736,521
Mission and Program Overview

Mission

To produce the best braille materials essential for the educational needs and pursuit of independence for the blind and visually impaired.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,452,762$2,109,488▼ $343,274
Intangible Assets$1,737,021$1,680,567▼ $56,454
Savings and Temporary Cash Investments$423,427$195,162▼ $228,265
Accounts Receivable$74,466$68,940▼ $5,526
Inventories for Sale or Use$25,617$56,378▲ $30,761
Land, Buildings, and Equipment, Net$48,145$41,842▼ $6,303
Total Assets$4,761,438$4,152,377▼ $609,061
Liabilities
Deferred Revenue-$34,260-
Accounts Payable and Accrued Expenses$64,964$34,236▼ $30,728
Total Liabilities$64,964$68,496▲ $3,532
Net Assets / Fund Balance
Unrestricted Net Assets$4,696,474$4,083,881▼ $612,593
Total Net Assets Fund Balance$4,696,474$4,083,881▼ $612,593
Total Liabilities and Net Assets / Fund Balance$4,761,438$4,152,377▼ $609,061

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$41,842$544,813$586,655
Compensation and Service Providers
Top Officer Pay74th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Cindy OlmsteadCEO/pres.FT$112,601$112,601

Board Members and Trustees

NameTitle
Richard FoustChairman
Philip HoffmanVice Chairma
Crystal YachcikDirector
Dr Alicia LiDirector
James PhiloDirector
Jeffrey RoutsonDirector
Kevin LindseyDirector
Michael BrownDirector
Shawn BrewerDirector
Robert BeatonSecretary
David DesnoyerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,690
Program Service Revenue
$679,473
Investment Income
$54,358
Other Revenue
$0
Change in Net Assets
$-388,553

Audited Revenue Reconciliation

Revenue per Audited Statements
$700,214
Revenue Not Reported on Financial Statements
$36,307
Revenue Not Reported on Form 990
$272,139
Total Revenue per Audited Statements
$972,353
Total Revenue per Form 990
$736,521
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$801,020
Salaries, Compensation, and Employee Benefits$286,207
Grants and Similar Amounts Paid$37,847
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$534,417$1,789-$536,206
Fees for Services Other$372,422$15,923-$388,345
Other Salaries and Wages$63,060$63,061-$126,121
Current Officers, Directors, Trustees, and Key Employees$56,300$56,301-$112,601
Information Technology-$48,220-$48,220
Grants to Domestic Orgs$37,847--$37,847
Fees for Service Investment Mgmnt Fees-$36,307-$36,307
Office Expenses$27,025$2,040-$29,065
Pension Plan Contributions$13,368$13,369-$26,737
Payroll Taxes$10,374$10,374-$20,748
Fees for Services Lobbying-$13,200-$13,200
Fees for Services Legal-$12,751-$12,751
Fees for Services Accounting-$11,673-$11,673
Other Expenses$6,038$10,327-$10,327
Travel$8,129$2,032-$10,161
Conferences and Meetings$2,440--$2,440
Advertising-$469-$469
All Other Expenses$-452,576$15,796-$-436,780
Total Functional Expenses$772,492$352,582$0$1,125,074

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,584,946
Total Expenses per Form 990$1,125,074
Expenses per Audited Statements$1,088,767
Expenses Not Reported on Form 990$496,179
Expenses Not Reported on Financial Statements$36,307
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Lions Club Bear LakeLake Orion, MI3Set Up Endowment$25,000
Seedlings Braille Books for ChildreLivonia, MI3Program Support$8,666
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
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Craig GilbertBoard MemberTechnical AdvisorNo-
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
Yes
Business relationship with organization members
Yes
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

“Upon completion of form 990, a copy is provided to the treasurer for approval prior to filing. Copies are made available to all members of the governing body both before and after the form has been filed.”

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

“All members of the governing body are required to disclose any potential conflicts of interest annually. All conflicts of interest are evaluated by the governing body, who then determines the best course of action on a case by case basis.”

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

“The executive committee makes an annual recommendation for the ceo's salary and benefit package. The recommendation is based on market surveys and salary ranges for comparable positions in the area, as well as an evaluation of economic conditions and the performance of the ceo over the past year. The full governing body makes a decision to accept or modify the executive committee's recommendation.”

Form 990, Page 6, Part VI, Line 19

“The company's governing documents, confilct of interest policy, and financial statements are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Michigan Braille Transcribing Fund
EIN
38-3387837
Phone
5177805096
Address
3500 NORTH ELM ROAD, JACKSON, MI 49201

Signing Officer

Name
Cindy Olmstead
Title
CEO/pres.
Phone
5177805096
Signed
2019-03-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cindy Olmstead
Formed
1997
Legal Domicile
Mi
Voting Board Members
11
Independent Board Members
11
Employees
5

Preparer

Firm
Condon Hecht Bisher Wade & Co Pc
Address
184 W CARLETON ROAD, HILLSDALE, MI 49242
Preparer
Jason M Wade CPA
Phone
5174399331
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Inmate wages 128,834 15,923 0 officer wages 53,500 0 0 original braille production 97,446 0 0 proofreader fees 92,642 0 0 total 372,422 15,923 0”

Form 990, Part XI, Line 9

“Unrealized losses -453,325”

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 2D

“Unrealized losses 453,325”

Raw XML AppendixShowing 400 of 521 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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IRS990/ProgSrvcAccomActy2Grp/Desc0TO ADVANCE THE PURSUIT OF INDEPENDENCE FOR THE BLIND AND VISUALLY IMPAIRED THROUGH THE FUNDING OF VARIOUS PROGRAMS AIMED AT ENHANCING THE LIVES OF BLIND AND VISUALLY IMPAIRED INDIVIDUALS, INCLUDING SCHOLARSHIP PROGRAMS FOR BRAILLE EDUCATION.
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IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0MICHIGAN BRAILLE TRANSCRIBING FUND, INC PAYS A CONSULTANT TO MEET WITH SENATORS AND LEGISLATORS IN ORDER TO ENSURE THE COMPANY IS INCLUDED IN THE ANNUAL APPROPRIATIONS BILL FOR THE MICHIGAN DEPARTMENT OF CORRECTIONS. IF MICHIGAN BRAILLE TRANSCRIBING FUND, INC WERE NOT INCLUDED IN THE APPROPRIATIONS BILL, THEY WOULD NOT BE ABLE TO CONTINUE OPERATIONS AT THEIR CURRENT LOCATION (INSIDE DEPARTMENT OF CORRECTIONS FACILITY). IN ADDITION, THE CONSULTANT INFORMS THE ORGANIZATION OF ANY HOUSE/SENATE BILLS THAT MAY BE PASSED THAT WILL HAVE A DIRECT EFFECT ON THEM.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0UNREALIZED LOSSES 453,325
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0PROGRAM SUPPORT
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0SEEDLINGS BRAILLE BOOKS FOR CHILDRE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1LIONS CLUB BEAR LAKE
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt11873 HUNTERS LANE
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$4,152,377
Liabilities
$68,496
Net assets
$4,083,881
Revenue
$736,521
Expenses
$1,125,074
Net income
-$388,553
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.19$0.10$3.09$0.54$1.10$0.56
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.56$0.14$3.42$0.94$1.11$0.17
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.56$0.21$3.35$1.16$1.17$0.01
2022Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$3.24$0.11$3.13$0.85$0.99$0.14
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.79$0.06$3.73$0.56$1.10$0.53
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.11$0.08$4.03$0.51$1.09$0.58
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.29$0.15$4.14$0.77$1.14$0.36
2018Detailed filing. Detailed filing data is available for this year.$4.15$0.07$4.08$0.74$1.13$0.39
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.76$0.06$4.70$0.80$1.01$0.21
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.52$0.04$4.47$0.94$1.17$0.22
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.67$0.06$4.61$1.03$1.19$0.17
2014Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$4.92$0.12$4.80$1.01$1.19$0.19
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$4.99$0.13$4.86$0.94$1.16$0.23
2012Summary only. Only limited summary data is available for this year.$4.57$0.06$4.51$1.07$1.03$0.04
2011Summary only. Only limited summary data is available for this year.$4.30$0.02$4.28$1.10$1.10$0.00