Civic Intelligence

Invest Michigan

990 • Fiscal year 2017 • EIN 46-3865120

Apr 01, 2016 to Mar 31, 2017 • Filed on Aug 04, 2017

Organization ProfileWWW.INVESTMICHIGAN.ORG

View Organization Page

500 Griswold No 1640Detroit, MI 48226

(313) 456-9413

Siviq Scores

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

Liabilities / Assets

91st percentile

0.97x

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

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

99th percentile

27.41x

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

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

7th percentile

-40%

Higher net margin than 7% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

74th percentile

$190,391

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 56.6% of source-year revenue.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

90th percentile

39%

Faster asset growth than 90% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

11th percentile

-21%

Faster revenue growth than 11% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$9,508,431

Up $2,644,181 (+39%) from 2016

Net Assets

Up

$290,420

Up $218,694 (+305%) from 2016

Liabilities

Up

$9,218,011

Up $2,425,487 (+36%) from 2016

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin7th percentile

Revenue

Down

$336,307

Down $91,564 (-21%) from 2016

Expenses

Up

$469,488

Up $121,587 (+35%) from 2016

Net Income

Down

-$133,181

Down $213,151 (-267%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

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

$20M$15M$10M$5.0M$0Assets 2015: $2,466,512Liabilities 2015: $2,455,930Net Assets 2015: $10,5822015Assets 2016: $6,864,250Liabilities 2016: $6,792,524Net Assets 2016: $71,7262016Assets 2017: $9,508,431Liabilities 2017: $9,218,011Net Assets 2017: $290,4202017Assets 2018: $9,776,080Liabilities 2018: $100,894Net Assets 2018: $9,675,1862018Assets 2019: $13,816,641Liabilities 2019: $75,665Net Assets 2019: $13,740,9762019Assets 2020: $15,463,449Liabilities 2020: $454,865Net Assets 2020: $15,008,5842020Assets 2021: $15,931,853Liabilities 2021: $752,938Net Assets 2021: $15,178,9152021Assets 2022: $16,280,622Liabilities 2022: $17,164Net Assets 2022: $16,263,4582022Assets 2023: $16,125,245Liabilities 2023: $46,024Net Assets 2023: $16,079,2212023Assets 2024: $14,987,401Liabilities 2024: $20,637Net Assets 2024: $14,966,7642024Assets 2025: $13,797,677Liabilities 2025: $15,022Net Assets 2025: $13,782,6552025

Highlighted filing

2017

Assets$9,508,431
Liabilities$9,218,011
Net Assets$290,420
Open 2017 Filing

Operations Trend

Revenue Growth11th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2015: $431,045Expenses 2015: $420,513Net Income 2015: $10,5322015Revenue 2016: $427,871Expenses 2016: $347,901Net Income 2016: $79,9702016Revenue 2017: $336,307Expenses 2017: $469,488Net Income 2017: -$133,1812017Revenue 2018: $630,112Expenses 2018: $556,842Net Income 2018: $73,2702018Revenue 2019: $4,091,653Expenses 2019: $592,814Net Income 2019: $3,498,8392019Revenue 2020: $991,918Expenses 2020: $960,798Net Income 2020: $31,1202020Revenue 2021: $331,402Expenses 2021: $805,070Net Income 2021: -$473,6682021Revenue 2022: -$309,731Expenses 2022: $722,704Net Income 2022: -$1,032,4352022Revenue 2023: $87,646Expenses 2023: $586,605Net Income 2023: -$498,9592023Revenue 2024: -$659,221Expenses 2024: $434,761Net Income 2024: -$1,093,9822024Revenue 2025: -$462,741Expenses 2025: $362,353Net Income 2025: -$825,0942025

Highlighted filing

2017

Revenue$336,307
Expenses$469,488
Net Income-$133,181
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2016 to Mar 31, 2017
Signed
Aug 4, 2017
Return Version
2016v3.0
Gross Receipts
$532,439
Mission and Program Overview

Mission

To enhance technological innovation by creating a nurturing environment designed to attract start-up and emerging technology-oriented businesses in michigan.

To enhance technological innovation by creating a supportive financing environment in mi.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$4,665,890$5,420,345▲ $754,455
Investments Program Related$2,091,171$3,905,236▲ $1,814,065
Cash and Non-Interest-Bearing Accounts$40,090$85,313▲ $45,223
Total Assets$6,864,250$9,508,431▲ $2,644,181
Other Assets Total$67,099$97,537▲ $30,438
Liabilities
Deferred Revenue$6,778,346$9,148,339▲ $2,369,993
Accounts Payable and Accrued Expenses$14,178$69,672▲ $55,494
Total Liabilities$6,792,524$9,218,011▲ $2,425,487
Net Assets / Fund Balance
Unrestricted Net Assets$71,726$290,420▲ $218,694
Total Net Assets Fund Balance$71,726$290,420▲ $218,694
Total Liabilities and Net Assets / Fund Balance$6,864,250$9,508,431▲ $2,644,181

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$3,905,236--
Compensation and Service Providers
Top Officer Pay74th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Charles MoretPresidentFT$165,000$25,391$190,391

Board Members and Trustees

NameTitle
David GregorkaDirector
Marianne FeyDirector
Mark J BennettSecretary
Martin DoberTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$420,006
Program Service Revenue
$0
Investment Income
$-115,449
Other Revenue
$31,750
Change in Net Assets
$-133,181
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$319,650
Other Expenses$149,838
Total Fundraising Expense$4,737
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$152,769$33,860$3,762$190,391
Other Salaries and Wages$108,140$331$24$108,495
Other Expenses$49,482--$49,482
Office Expenses$42,861$2,755$308$45,924
Fees for Services Other$30,688$3,623$401$34,712
Payroll Taxes$16,772$2,185$242$19,199
Travel$12,053--$12,053
Advertising$7,667--$7,667
Other Employee Benefits$1,565--$1,565
Total Functional Expenses$421,997$42,754$4,737$469,488
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
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, Part VI, Section B, Line 11B

“The board of directors engages a certified public accounting firm to prepare the form 990. Upon completion, it is reviewed by the board of directors and the organization's president.”

Form 990, Part VI, Section B, Line 12C

“All possible conflicts of interest must be disclosed. The board or committee shall determine by a majority vote of the disinterested directors whether the transaction is fair and reasonable and shall make its decision as to whether to enter into the transaction or arrangement in conformity with such determination.”

Form 990, Part VI, Section B, Line 15A

“The president's salary and benefit package is subject to annual review and approval by the board of directors.”

Form 990, Part VI, Section C, Line 19

“Requests for access to documents, which by law are open to public access, may be made by application to the organization.”

Filing and Contact Details

Filer

Filer Name
Invest Michigan
EIN
46-3865120
Phone
3134569413
Address
500 GRISWOLD NO 1640, DETROIT, MI 48226

Signing Officer

Name
Charles Moret
Title
President
Phone
3134569413
Signed
2017-08-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charles Moret
Formed
2013
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
4
Employees
3
Volunteers
56

Preparer

Firm
Boisvenu & Company Pc
Address
30600 TELEGRAPH ROAD SUITE 1300, BINGHAM FARMS, MI 48025
Preparer
Michael B Boisvenu
Phone
2486477200
Raw XML Appendix378 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.

Path#Value
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IRS990/Form990PartVIISectionAGrp/TitleTxt1SECRETARY
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IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0CHARLES MORET
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0190391
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS ENGAGES A CERTIFIED PUBLIC ACCOUNTING FIRM TO PREPARE THE FORM 990. UPON COMPLETION, IT IS REVIEWED BY THE BOARD OF DIRECTORS AND THE ORGANIZATION'S PRESIDENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL POSSIBLE CONFLICTS OF INTEREST MUST BE DISCLOSED. THE BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION IS FAIR AND REASONABLE AND SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT IN CONFORMITY WITH SUCH DETERMINATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PRESIDENT'S SALARY AND BENEFIT PACKAGE IS SUBJECT TO ANNUAL REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3REQUESTS FOR ACCESS TO DOCUMENTS, WHICH BY LAW ARE OPEN TO PUBLIC ACCESS, MAY BE MADE BY APPLICATION TO THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MI
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt06864250
IRS990/TotalAssetsEOYAmt09508431
IRS990/TotalAssetsGrp/BOYAmt06864250
IRS990/TotalAssetsGrp/EOYAmt09508431
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt0420006
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt04737
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt042754
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0421997
IRS990/TotalFunctionalExpensesGrp/TotalAmt0469488
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06792524
IRS990/TotalLiabilitiesEOYAmt09218011
IRS990/TotalLiabilitiesGrp/BOYAmt06792524
IRS990/TotalLiabilitiesGrp/EOYAmt09218011
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt071726
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0290420
IRS990/TotalOtherCompensationAmt08891
IRS990/TotalProgramServiceExpensesAmt0421997
IRS990/TotalReportableCompFromOrgAmt0181500
IRS990/TotalRevenueGrp/ExclusionAmt0-115449
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt031750
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0336307
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt056
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06864250
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09508431
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt012053
IRS990/TravelGrp/TotalAmt012053
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IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.INVESTMICHIGAN.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CHARLES MORET
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03134569413
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-08-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INVEST MICHIGAN
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ReturnHeader/Filer/EIN0463865120
ReturnHeader/Filer/PhoneNum03134569413
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0173.15.249.46
ReturnHeader/FilingSecurityInformation/IPDt02017-08-09
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm011:58:00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0382857129
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BOISVENU & COMPANY PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt030600 TELEGRAPH ROAD SUITE 1300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BINGHAM FARMS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd048025
ReturnHeader/PreparerPersonGrp/PhoneNum02486477200
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL B BOISVENU
ReturnHeader/ReturnTs02017-08-09T10:58:53-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-04-01
ReturnHeader/TaxPeriodEndDt02017-03-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$9,508,431
Liabilities
$9,218,011
Net assets
$290,420
Revenue
$336,307
Expenses
$469,488
Net income
-$133,181
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.8$0.02$13.8$0.46$0.36$0.83
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.0$0.02$15.0$0.66$0.43$1.09
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.1$0.05$16.1$0.09$0.59$0.50
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.3$0.02$16.3$0.31$0.72$1.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.9$0.75$15.2$0.33$0.81$0.47
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.5$0.45$15.0$0.99$0.96$0.03
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.8$0.08$13.7$4.09$0.59$3.50
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.78$0.10$9.68$0.63$0.56$0.07
2017Detailed filing. Detailed filing data is available for this year.$9.51$9.22$0.29$0.34$0.47$0.13
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.86$6.79$0.07$0.43$0.35$0.08
2015Detailed filing. Detailed filing data is available for this year.$2.47$2.46$0.01$0.43$0.42$0.01