Civic Intelligence

Adams Township School District Foundation Inc.

990 • Fiscal year 2016 • EIN 38-3563510

Jul 01, 2015 to Jun 30, 2016 • Filed on Sep 28, 2016

PO Box 37Painesdale, MI 49955

(906) 482-0599

Siviq Scores

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

Liabilities / Assets

19th percentile

0.00x

Higher debt load relative to assets than 19% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

24th percentile

0.02x

Higher debt load relative to revenue than 24% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

3rd percentile

-125%

Higher net margin than 3% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

8th percentile

-15%

Faster asset growth than 8% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

5th percentile

-55%

Faster revenue growth than 5% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Down

$1,773,327

Down $312,034 (-15%) from 2015

Net Assets

Down

$1,768,732

Down $316,629 (-15%) from 2015

Liabilities

Up

$4,595

Up $4,595 from 2015

Revenue

Down

$253,875

Down $314,079 (-55%) from 2015

Expenses

Up

$570,504

Up $359,935 (+171%) from 2015

Net Income

Down

-$316,629

Down $674,014 (-189%) from 2015

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2012: $1,634,007Liabilities 2012: $0Net Assets 2012: $1,634,0072012Assets 2013: $1,697,582Liabilities 2013: $0Net Assets 2013: $1,697,5822013Assets 2014: $1,727,976Liabilities 2014: $0Net Assets 2014: $1,727,9762014Assets 2015: $2,085,361Liabilities 2015: $0Net Assets 2015: $2,085,3612015Assets 2016: $1,773,327Liabilities 2016: $4,595Net Assets 2016: $1,768,7322016Assets 2017: $1,834,159Liabilities 2017: $0Net Assets 2017: $1,834,1592017Assets 2018: $1,655,393Liabilities 2018: $0Net Assets 2018: $1,655,3932018Assets 2019: $1,719,776Liabilities 2019: $0Net Assets 2019: $1,719,7762019Assets 2020: $1,654,069Liabilities 2020: $0Net Assets 2020: $1,654,0692020Assets 2021: $1,836,854Liabilities 2021: $0Net Assets 2021: $1,836,8542021Assets 2022: $1,877,453Liabilities 2022: $0Net Assets 2022: $1,877,4532022Assets 2023: $1,939,149Liabilities 2023: $0Net Assets 2023: $1,939,1492023Assets 2024: $2,168,203Liabilities 2024: $0Net Assets 2024: $2,168,2032024

Highlighted filing

2016

Assets$1,773,327
Liabilities$4,595
Net Assets$1,768,732

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2012: $65,220Expenses 2012: $63,314Net Income 2012: $1,9062012Revenue 2013: $141,828Expenses 2013: $78,253Net Income 2013: $63,5752013Revenue 2014: $190,659Expenses 2014: $160,265Net Income 2014: $30,3942014Revenue 2015: $567,954Expenses 2015: $210,569Net Income 2015: $357,3852015Revenue 2016: $253,875Expenses 2016: $570,504Net Income 2016: -$316,6292016Revenue 2017: $189,623Expenses 2017: $124,196Net Income 2017: $65,4272017Revenue 2018: $123,054Expenses 2018: $301,820Net Income 2018: -$178,7662018Revenue 2019: $183,666Expenses 2019: $119,283Net Income 2019: $64,3832019Revenue 2020: $106,527Expenses 2020: $172,234Net Income 2020: -$65,7072020Revenue 2021: $316,055Expenses 2021: $133,270Net Income 2021: $182,7852021Revenue 2022: $177,033Expenses 2022: $136,434Net Income 2022: $40,5992022Revenue 2023: $173,527Expenses 2023: $111,831Net Income 2023: $61,6962023Revenue 2024: $382,450Expenses 2024: $153,396Net Income 2024: $229,0542024

Highlighted filing

2016

Revenue$253,875
Expenses$570,504
Net Income-$316,629
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Sep 28, 2016
Return Version
2015v2.1
Gross Receipts
$543,803
Mission and Program Overview

Mission

Assist in the development, implementation, or maintenance of educational programs which significantly contribute to the education of students in the adams township school district.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,074,517$1,146,067▲ $71,550
Savings and Temporary Cash Investments$1,010,843$627,260▼ $383,583
Cash and Non-Interest-Bearing Accounts$1--
Total Assets$2,085,361$1,773,327▼ $312,034
Liabilities
Accounts Payable and Accrued Expenses-$4,595-
Total Liabilities$0$4,595▲ $4,595
Net Assets / Fund Balance
Unrestricted Net Assets$2,085,361$1,768,732▼ $316,629
Total Net Assets Fund Balance$2,085,361$1,768,732▼ $316,629
Total Liabilities and Net Assets / Fund Balance$2,085,361$1,773,327▼ $312,034
Compensation and Service Providers

Board Members and Trustees

NameTitle
Martin IskraPresident
Bette HeikkilaBoard Member
Chris IskraBoard Member
Greg SeppanenBoard Member
Jay RuohonenBoard Member
Lorraine TomasiBoard Member
Marti RashleighBoard Member
Martin JohnsonBoard Member
Mary Bergdahl LehtoBoard Member
Nancy RuganiBoard Member
Ray Bosley JrBoard Member
Robert MarcheschiBoard Member
Ron AntilaBoard Member
Steve NicholasBoard Member
Steve SabatiniBoard Member
Dr Frank RuganiPast-preside
Tim KeteriSecretary
John BaimaTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Dp ConstructionConstruction41353 US-41, Chassell, MI 49916$365,238
Revenue and Support

Revenue Composition

Contributions and Grants
$203,183
Program Service Revenue
$0
Investment Income
$44,520
Other Revenue
$6,172
All Other Contributions
$203,183
Change in Net Assets
$-316,629
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$547,042
Other Expenses$23,462
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$494,408--$494,408
Grants to Domestic Individuals$52,634--$52,634
Fees for Service Investment Mgmnt Fees-$12,115-$12,115
Office Expenses-$8,859-$8,859
Fees for Services Accounting-$2,223-$2,223
Insurance-$265-$265
Total Functional Expenses$547,042$23,462$0$570,504
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Adams Township School DistrictPainesdale, MIGovAssist Education$494,408
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$10,910
Fundraising Direct Expenses$4,738
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
No
Annual disclosure for covered persons
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

During quarterly meeting, the finance committee reports to the board of governors on the form 990.

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

Directors are required to excuse themselves from any vote upon which they have a conflict of interest.

Form 990, Page 6, Part VI, Line 19

Governing documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Adams Twp School District
EIN
38-3563510
Phone
9064820599
Address
PO BOX 37, PAINESDALE, MI 49955

Signing Officer

Name
Tim Keteri
Title
Secretary
Phone
9064820599
Signed
2016-09-28

Organization Details

Principal Officer
Tim Keteri
Formed
2000
Legal Domicile
Mi
Voting Board Members
18
Independent Board Members
18
Employees
0
Volunteers
10

Preparer

Firm
Rukkila Negro and Associates Cpas Pc
Address
310 SHELDEN AVENUE, HOUGHTON, MI 49931-1964
Preparer
Peter a Negro
Phone
9064826601
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Assist in the development, implementation, or maintenance of educational programs which significantly contribute to the education of students in the adams township school district.

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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt08859
IRS990/OfficeExpensesGrp/TotalAmt08859
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IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0TIM KETERI
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0485498
IRS990/PYExcessBenefitTransInd0false
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IRS990/PYOtherRevenueAmt07690
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IRS990/ReconcilationRevenueExpnssAmt0-316629
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IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01010843
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0627260
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0203183
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt050304
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt021988
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0558320
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt044440
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt049365
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt047870
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt046313
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt047542
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0235530
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt031912
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IRS990ScheduleA/PublicSupportCY170Pct00.49300
IRS990ScheduleA/PublicSupportPY170Pct00.48280
IRS990ScheduleA/PublicSupportTotal170Amt0391372
IRS990ScheduleA/SubstantialContributorsTotAmt0166948
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0160498
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0122347
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt050304
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt021988
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0558320
IRS990ScheduleA/TotalSupportAmt0793850
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt052634
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt027
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IRS990ScheduleI/RecipientTable/IRCSectionDesc0GOV
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0ASSIST EDUCATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0ADAMS TOWNSHIP SCHOOL DISTRICT
IRS990ScheduleI/RecipientTable/RecipientEIN0386001475
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt043084 GOODELL STREET
IRS990ScheduleI/RecipientTable/USAddress/CityNm0PAINESDALE
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION PROVIDES GRANTS TO ADAMS TOWNSHIP SCHOOL DISTRICT TO SUPPORT PROGRAMMING IN THE SCHOOL. ADAMS TOWNSHIP SCHOOL IS RESPONSIBLE FOR SELECTING INDIVIDUAL STUDENTS WHO ARE ELIGIBLE FOR SCHOLARSHIP DISTRIBUTIONS. THE SCHOOL MAINTAINS RECORDS PERTAINING TO THE SELECTION CRITERIA USED AND MONITORS THE USE OF THE SCHOLARSHIPS. ADAMS TOWNSHIP SCHOOL DISTRICT PROVIDES CHECKS IN THE NAMES OF THE INDIVIDUAL STUDENTS AT THE DIRECTION OF THE SCHOOL.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 4, PART IV
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ASSIST IN THE DEVELOPMENT, IMPLEMENTATION, OR MAINTENANCE OF EDUCATIONAL PROGRAMS WHICH SIGNIFICANTLY CONTRIBUTE TO THE EDUCATION OF STUDENTS IN THE ADAMS TOWNSHIP SCHOOL DISTRICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DURING QUARTERLY MEETING, THE FINANCE COMMITTEE REPORTS TO THE BOARD OF GOVERNORS ON THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DIRECTORS ARE REQUIRED TO EXCUSE THEMSELVES FROM ANY VOTE UPON WHICH THEY HAVE A CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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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IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0547042
IRS990/TotalFunctionalExpensesGrp/TotalAmt0570504
IRS990/TotalGrossUBIAmt00
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0253875
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
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IRS990/UnrestrictedNetAssetsGrp/BOYAmt02085361
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IRS990/UponRequestInd0X
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IRS990/VotingMembersGoverningBodyCnt018
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