Civic Intelligence

Up Business Capital

EIN 45-2471096 • 501(c)3 • Marquette, MI

Profile

To provide tailored business solutions to advance and connect rural economies and their communities.

101 W Washington Street Ste 9Marquette, MI 49855

n/A

Siviq Scores

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

Liabilities / Assets

91st percentile

0.81x

Higher debt load relative to assets than 91% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

99th percentile

20.37x

Higher debt load relative to revenue than 99% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

3rd percentile

-167%

Higher net margin than 3% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

15th percentile

-16%

Faster asset growth than 15% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

25th percentile

-9.0%

Faster revenue growth than 25% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets91st percentile

Assets

Down

$509,955

Down $94,881 (-16%) from 2023

Liabilities

Down

$414,547

Down $59,709 (-13%) from 2023

Net Assets

Down

$95,408

Down $35,172 (-27%) from 2023

Operations
Liabilities / Revenue99th percentileNet Margin3rd percentile

Revenue

Down

$20,354

Down $2,001 (-9.0%) from 2023

Expenses

Up

$54,301

Up $7,709 (+17%) from 2023

Net Income

Down

-$33,947

Down $9,710 (-40%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth15th percentile

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

$1.5M$1.0M$500K$0Assets 2015: $1,009,819Liabilities 2015: $907,224Net Assets 2015: $102,5952015Assets 2016: $985,717Liabilities 2016: $853,677Net Assets 2016: $132,0402016Assets 2017: $928,451Liabilities 2017: $799,636Net Assets 2017: $128,8152017Assets 2018: $907,983Liabilities 2018: $744,962Net Assets 2018: $163,0212018Assets 2019: $864,555Liabilities 2019: $689,721Net Assets 2019: $174,8342019Assets 2020: $769,229Liabilities 2020: $633,985Net Assets 2020: $135,2442020Assets 2021: $686,201Liabilities 2021: $577,689Net Assets 2021: $108,5122021Assets 2022: $679,908Liabilities 2022: $525,861Net Assets 2022: $154,0472022Assets 2023: $604,836Liabilities 2023: $474,256Net Assets 2023: $130,5802023Assets 2024: $509,955Liabilities 2024: $414,547Net Assets 2024: $95,4082024

Highlighted filing

2024

Assets$509,955
Liabilities$414,547
Net Assets$95,408
Open 2024 Filing

Operations Trend

Revenue Growth25th percentile

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

$300K$200K$100K$0-$100K-$200KRevenue 2015: $68,255Expenses 2015: $219,671Net Income 2015: -$151,4162015Revenue 2016: $60,798Expenses 2016: $31,353Net Income 2016: $29,4452016Revenue 2017: $62,307Expenses 2017: $65,532Net Income 2017: -$3,2252017Revenue 2018: $56,271Expenses 2018: $22,065Net Income 2018: $34,2062018Revenue 2019: $54,559Expenses 2019: $42,746Net Income 2019: $11,8132019Revenue 2020: $53,375Expenses 2020: $92,965Net Income 2020: -$39,5902020Revenue 2021: $47,133Expenses 2021: $73,865Net Income 2021: -$26,7322021Revenue 2022: $35,049Expenses 2022: $48,790Net Income 2022: -$13,7412022Revenue 2023: $22,355Expenses 2023: $46,592Net Income 2023: -$24,2372023Revenue 2024: $20,354Expenses 2024: $54,301Net Income 2024: -$33,9472024

Highlighted filing

2024

Revenue$20,354
Expenses$54,301
Net Income-$33,947
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$509,955
Liabilities
$414,547
Net assets
$95,408
Revenue
$20,354
Expenses
$54,301
Net income
-$33,947
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.51$0.41$0.10$0.02$0.05$0.03
2023Summary only. Only limited summary data is available for this year.$0.60$0.47$0.13$0.02$0.05$0.02
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.68$0.53$0.15$0.04$0.05$0.01
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.69$0.58$0.11$0.05$0.07$0.03
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.77$0.63$0.14$0.05$0.09$0.04
2019Summary only. Only limited summary data is available for this year.$0.86$0.69$0.17$0.05$0.04$0.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.91$0.74$0.16$0.06$0.02$0.03
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.93$0.80$0.13$0.06$0.07$0.00
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.99$0.85$0.13$0.06$0.03$0.03
2015Detailed filing. Detailed filing data is available for this year.$1.01$0.91$0.10$0.07$0.22$0.15
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 16, 2025
Return Version
2024v5.0
Gross Receipts
$20,354
Mission and Program Overview

Mission

To provide tailored business solutions to advance and connect rural economies and their communities.

To provide tailored business solutions to advance and connect rural economies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$357,635$306,363▼ $51,272
Other Notes and Loans Receivable, Net$245,764$202,404▼ $43,360
Total Assets$604,836$509,955▼ $94,881
Other Assets Total$1,437$1,188▼ $249
Liabilities
Mortgage Notes Payable Secured by Investment Property$463,381$405,329▼ $58,052
Other Liabilities$10,875$9,218▼ $1,657
Total Liabilities$474,256$414,547▼ $59,709
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$130,580$95,408▼ $35,172
Total Net Assets Fund Balance$130,580$95,408▼ $35,172
Total Liabilities and Net Assets / Fund Balance$604,836$509,955▼ $94,881
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleOtherTotal
Elizabeth SangalliPresident, B$215,019$215,019
Jill MillerBoard Direct$161,327$161,327
Charles H HurstBoard Secret$134,440$134,440

Board Members and Trustees

NameTitle
Elizabeth SangalliPresident, Brd Chair
Alfred Joyal IiiBoard Direct
Brian SheridanBoard Direct
Nadia BrighamBoard Direct
Peter GravesBoard Direct
Thomas VearBoard Direct
Wes Maurer JrBoard Direct
Jill MillerBoard Director
Carol JohnsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$20,193
Investment Income
$161
Other Revenue
$0
Change in Net Assets
$-33,947
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$54,301
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
Fees for Services Management$23,248$21,751-$44,999
Interest$4,257--$4,257
Office Expenses$4,040--$4,040
Other Expenses$1,005--$1,005
Total Functional Expenses$32,550$21,751$0$54,301
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
Due to Other Funds$9,218
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The organization has a management services contract with northern great lakes initiatives (ngli), which is a related entity as disclosed on schedule r, for management of its loan operations. Three persons received compensation from ngli which is reported in part vii.”

Form 990, Page 6, Part VI, Line 7A

“All members of the board of directors are appointed by northern great lakes initiatives.”

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

“The organization does not have committees with authority to act on behalf of the governing body.”

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

“A draft of the form 990 is reviewed by the accounting manager and management team. A copy of the form 990 is then made available to all board members via email to review before filing.”

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

“The organization's officers and directors sign the conflict of interest policy on an annual basis.”

Form 990, Page 6, Part VI, Line 19

“Governing documents, conflict of interest policy and financial statements are not made available to the public.”

Filing and Contact Details

Filer

Filer Name
Up Business Capital
EIN
45-2471096
Phone
9062285571
Address
101 W WASHINGTON STREET STE 9, MARQUETTE, MI 49855

Signing Officer

Name
Elizabeth Sangalli
Title
President, Brd Chair
Phone
9062285571
Signed
2025-10-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Elizabeth Sangalli
Formed
2002
Legal Domicile
Mi
Voting Board Members
10
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Andrews Hooper Pavlik Plc
Address
2311 EAST BELTLINE AVE SE STE 200, GRAND RAPIDS, MI 49546
Preparer
Maggie M Tucholski
Phone
6169426440
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Recovery of bad debts 0 change in allowance for loan losses -1,225 total -1,225”

Financial Statement Notes

Schedule D, Page 3, Part X

“Up business capital is exempt from federal income taxes under 501(c)(3) of the internal revenue code. However, income from certain activities not directly related to up business capitals tax exempt purpose may be subject to taxation as unrelated business income. Since up business capital is exempt from federal income taxes, no provision for income taxes is included in the accompanying consolidated financial statements. Up business capital did not receive any unrelated business income in 2024. Generally, the prior three tax years remain open to examination. Up business capital does not believe that the results from the examination of any open years would have a material adverse effect on up business capital.”

Raw XML AppendixShowing 400 of 444 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/ExplanationTxt0UP BUSINESS CAPITAL IS EXEMPT FROM FEDERAL INCOME TAXES UNDER 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO UP BUSINESS CAPITALS TAX EXEMPT PURPOSE MAY BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. SINCE UP BUSINESS CAPITAL IS EXEMPT FROM FEDERAL INCOME TAXES, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. UP BUSINESS CAPITAL DID NOT RECEIVE ANY UNRELATED BUSINESS INCOME IN 2024. GENERALLY, THE PRIOR THREE TAX YEARS REMAIN OPEN TO EXAMINATION. UP BUSINESS CAPITAL DOES NOT BELIEVE THAT THE RESULTS FROM THE EXAMINATION OF ANY OPEN YEARS WOULD HAVE A MATERIAL ADVERSE EFFECT ON UP BUSINESS CAPITAL.
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1JILL MILLER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT, BRD CHAIR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS A MANAGEMENT SERVICES CONTRACT WITH NORTHERN GREAT LAKES INITIATIVES (NGLI), WHICH IS A RELATED ENTITY AS DISCLOSED ON SCHEDULE R, FOR MANAGEMENT OF ITS LOAN OPERATIONS. THREE PERSONS RECEIVED COMPENSATION FROM NGLI WHICH IS REPORTED IN PART VII.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL MEMBERS OF THE BOARD OF DIRECTORS ARE APPOINTED BY NORTHERN GREAT LAKES INITIATIVES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION DOES NOT HAVE COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A DRAFT OF THE FORM 990 IS REVIEWED BY THE ACCOUNTING MANAGER AND MANAGEMENT TEAM. A COPY OF THE FORM 990 IS THEN MADE AVAILABLE TO ALL BOARD MEMBERS VIA EMAIL TO REVIEW BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S OFFICERS AND DIRECTORS SIGN THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6RECOVERY OF BAD DEBTS 0 CHANGE IN ALLOWANCE FOR LOAN LOSSES -1,225 TOTAL -1,225
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