Civic Intelligence

Energy Innovation Business Council

EIN 45-3631792 • 501(c)6 • Lansing, MI

Profile

The mission of the corporation is to grow michigan's advanced energy economy by fostering opportunities for innovation and business growth and offering a unified voice in creating a business-friendly environment for the advanced energy industry in michigan.

115 W Allegan Ste 710Lansing, MI 48933-1619

mieibc.org

Siviq Scores

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

Liabilities / Assets

44th percentile

0.11x

Higher debt load relative to assets than 44% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

53rd percentile

0.19x

Higher debt load relative to revenue than 53% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Net Margin

93rd percentile

35%

Higher net margin than 93% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

52nd percentile

$144,937

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 16.4% of source-year revenue.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Asset Growth

91st percentile

34%

Faster asset growth than 91% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

23rd percentile

-4.0%

Faster revenue growth than 23% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$1,507,011

Up $381,485 (+34%) from 2023

Liabilities

Up

$165,765

Up $71,466 (+76%) from 2023

Net Assets

Up

$1,341,246

Up $310,019 (+30%) from 2023

Revenue

Down

$885,860

Down $37,286 (-4.0%) from 2023

Expenses

Down

$575,841

Down $12,649 (-2.1%) from 2023

Net Income

Down

$310,019

Down $24,637 (-7.4%) from 2023

Trend Graphs

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2015: $73,245Liabilities 2015: $64,801Net Assets 2015: $8,4442015Assets 2016: $84,205Liabilities 2016: $35,533Net Assets 2016: $48,6722016Assets 2017: $126,303Liabilities 2017: $24,100Net Assets 2017: $102,2032017Assets 2018: $143,725Liabilities 2018: $41,822Net Assets 2018: $101,9032018Assets 2019: $223,700Liabilities 2019: $16,650Net Assets 2019: $207,0502019Assets 2020: $295,711Liabilities 2020: $21,799Net Assets 2020: $273,9122020Assets 2021: $558,196Liabilities 2021: $48,947Net Assets 2021: $509,2492021Assets 2022: $754,260Liabilities 2022: $57,689Net Assets 2022: $696,5712022Assets 2023: $1,125,526Liabilities 2023: $94,299Net Assets 2023: $1,031,2272023Assets 2024: $1,507,011Liabilities 2024: $165,765Net Assets 2024: $1,341,2462024

Highlighted filing

2024

Assets$1,507,011
Liabilities$165,765
Net Assets$1,341,246

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2015: $113,566Expenses 2015: $201,391Net Income 2015: -$87,8252015Revenue 2016: $261,173Expenses 2016: $220,945Net Income 2016: $40,2282016Revenue 2017: $227,133Expenses 2017: $173,602Net Income 2017: $53,5312017Revenue 2018: $285,960Expenses 2018: $286,260Net Income 2018: -$3002018Revenue 2019: $370,481Expenses 2019: $265,334Net Income 2019: $105,1472019Revenue 2020: $324,532Expenses 2020: $257,670Net Income 2020: $66,8622020Revenue 2021: $569,681Expenses 2021: $334,344Net Income 2021: $235,3372021Revenue 2022: $558,491Expenses 2022: $371,169Net Income 2022: $187,3222022Revenue 2023: $923,146Expenses 2023: $588,490Net Income 2023: $334,6562023Revenue 2024: $885,860Expenses 2024: $575,841Net Income 2024: $310,0192024

Highlighted filing

2024

Revenue$885,860
Expenses$575,841
Net Income$310,019

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Sep 4, 2025
Return Version
2024v5.0
Gross Receipts
$933,464
Mission and Program Overview

Mission

The mission of the corporation is to grow michigan's advanced energy economy by fostering opportunities for innovation and business growth and offering a unified voice in creating a business-friendly environment for the advanced energy industry in michigan.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$928,696$1,258,123▲ $329,427
Cash and Non-Interest-Bearing Accounts$138,803$128,830▼ $9,973
Accounts Receivable$54,777$118,863▲ $64,086
Prepaid Expenses and Deferred Charges$3,250$1,195▼ $2,055
Total Assets$1,125,526$1,507,011▲ $381,485
Liabilities
Deferred Revenue$28,900$109,050▲ $80,150
Accounts Payable and Accrued Expenses$65,399$56,715▼ $8,684
Total Liabilities$94,299$165,765▲ $71,466
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,031,227$1,341,246▲ $310,019
Total Net Assets Fund Balance$1,031,227$1,341,246▲ $310,019
Total Liabilities and Net Assets / Fund Balance$1,125,526$1,507,011▲ $381,485
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Laura ShermanPresidentPT$144,937$144,937

Board Members and Trustees

NameTitle
Lauren BigelowBoard Chair
Amy HeartBoard Member
Anand GangadharanBoard Member
Brian PageauBoard Member
Carla Walker-millerBoard Member
Danielle ChangalaBoard Member
Kwafo AdarkwaBoard Member
Max SchusterBoard Member
Scott VicianaBoard Member
Erin KricherBorad Member
Bruce GoodmanSecretary
KEVIN O'CONNELLTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$580,955
Program Service Revenue
$280,659
Investment Income
$49,522
Other Revenue
$-25,276
All Other Contributions
$30,000
Change in Net Assets
$310,019
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$575,841
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 Other---$326,895
Conferences and Meetings---$96,847
Fees for Services Lobbying---$60,813
Fees for Services Management---$43,437
Fees for Services Accounting---$17,075
Office Expenses---$11,580
Occupancy---$6,289
Travel---$6,250
Other Expenses---$4,044
Information Technology---$1,817
Insurance---$694
Advertising---$100
Total Functional Expenses$0$0$0$575,841
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$47,604
Fundraising Gross Income$21,573
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Gala$21,573$21,573$16,677$4,896
Total Events$21,573$21,573$47,604$-26,031
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes

Reported Spending and Taxes

Line ItemAmount
Current Year Nondeductible Lobbying and Political Cost$60,813
Total Nondeductible Lobbying and Political Cost$60,813
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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 7A

Michigan eibc members meet annually to elect board members.

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

Board members received a copy of the 990 prior to filing of the form.

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

The organization's conflict of interest policy is set forth in the bylaws. The policy requires an interested director to disclose the conflict of interest, and to recuse himself or herself from at least part of the discussion, and from the vote on the conflicted matter.the policy further requires that the recusal be reflected in the minutes of the meeting.

Form 990, Page 6, Part VI, Line 19

Energy innovation business council's governing documents and financial statements are made available upon request of the public.

Filing and Contact Details

Filer

Filer Name
Energy Innovation Business Council
EIN
45-3631792
Phone
6075923026
Address
115 W ALLEGAN STE 710, LANSING, MI 48933-1619

Signing Officer

Name
Laura Sherman
Title
President
Phone
6075923026
Signed
2025-09-04

Organization Details

Principal Officer
Laura Sherman
Formed
2011
Legal Domicile
Mi
Voting Board Members
12
Independent Board Members
12
Employees
0

Preparer

Firm
Wells CPA LLC
Address
215 N FRONT ST STE 110, COLUMBUS, OH 43215
Preparer
Donald Wells
Phone
6143968974
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The mission of the corporation is to grow michigan's advanced energy economy by fostering opportunities for innovation and business growth and offering a unified voice in creating a business-friendly environment for the advanced energy industry in michigan.

Form 990, Part IX, Line 11G

Shared salary costs 326,895 0 0

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IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt021573
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IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-26031
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt016677
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt016677
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MISSION OF THE CORPORATION IS TO GROW MICHIGAN'S ADVANCED ENERGY ECONOMY BY FOSTERING OPPORTUNITIES FOR INNOVATION AND BUSINESS GROWTH AND OFFERING A UNIFIED VOICE IN CREATING A BUSINESS-FRIENDLY ENVIRONMENT FOR THE ADVANCED ENERGY INDUSTRY IN MICHIGAN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MICHIGAN EIBC MEMBERS MEET ANNUALLY TO ELECT BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD MEMBERS RECEIVED A COPY OF THE 990 PRIOR TO FILING OF THE FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S CONFLICT OF INTEREST POLICY IS SET FORTH IN THE BYLAWS. THE POLICY REQUIRES AN INTERESTED DIRECTOR TO DISCLOSE THE CONFLICT OF INTEREST, AND TO RECUSE HIMSELF OR HERSELF FROM AT LEAST PART OF THE DISCUSSION, AND FROM THE VOTE ON THE CONFLICTED MATTER.THE POLICY FURTHER REQUIRES THAT THE RECUSAL BE REFLECTED IN THE MINUTES OF THE MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ENERGY INNOVATION BUSINESS COUNCIL'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST OF THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5SHARED SALARY COSTS 326,895 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0INSTITUTE FOR ENERGY INNOVATION -
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C 3
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0EDUCATION
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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0AMOUNT PAID
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IRS990/SubjectToProxyTaxInd0true
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01125526
IRS990/TotalAssetsEOYAmt01507011
IRS990/TotalAssetsGrp/BOYAmt01125526
IRS990/TotalAssetsGrp/EOYAmt01507011
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0580955
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0575841
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt094299
IRS990/TotalLiabilitiesEOYAmt0165765
IRS990/TotalLiabilitiesGrp/BOYAmt094299
IRS990/TotalLiabilitiesGrp/EOYAmt0165765
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01031227
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01341246
IRS990/TotalOtherCompensationAmt015207
IRS990/TotalProgramServiceRevenueAmt0280659
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0330936
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0885860
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01125526
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01507011
IRS990/TotReportableCompRltdOrgAmt0129730
IRS990/TravelGrp/TotalAmt06250
IRS990/TypeOfOrganizationOtherInd0X
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0115 W ALLEGAN STE 710
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IRS990/WebsiteAddressTxt0MIEIBC.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0LAURA SHERMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06075923026
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-09-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ENERGY INNOVATION BUSINESS COUNCIL
ReturnHeader/Filer/BusinessNameControlTxt0ENER
ReturnHeader/Filer/EIN0453631792
ReturnHeader/Filer/PhoneNum06075923026
ReturnHeader/Filer/USAddress/AddressLine1Txt0115 W ALLEGAN STE 710
ReturnHeader/Filer/USAddress/CityNm0LANSING

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