Civic Intelligence

Northern Great Lakes Initiatives

EIN 47-3130767 • 501(c)3 • Marquette, MI

Profile

To encourage, promote, and foster revitalization projects and programs by offering loans, strategic planning and other support to economically disadvantaged communities in the great lakes watershed region that are unable to access support from traditional sources. Business development resources are available to users outside of the great lakes watershed region.

101 W Washington Street Ste 9Marquette, MI 49855

www.northerninitiatives.org

Siviq Scores

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

Liabilities / Assets

77th percentile

0.57x

Higher debt load relative to assets than 77% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

89th percentile

2.47x

Higher debt load relative to revenue than 89% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

88th percentile

44%

Higher net margin than 88% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

37th percentile

$215,019

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

45th percentile

3.8%

Faster asset growth than 45% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

73rd percentile

22%

Faster revenue growth than 73% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Up

$46,586,763

Up $1,695,687 (+3.8%) from 2023

Liabilities

Down

$26,713,190

Down $2,456,372 (-8.4%) from 2023

Net Assets

Up

$19,873,573

Up $4,152,059 (+26%) from 2023

Revenue

Up

$10,798,417

Up $1,923,951 (+22%) from 2023

Expenses

Up

$5,993,380

Up $363,702 (+6.5%) from 2023

Net Income

Up

$4,805,037

Up $1,560,249 (+48%) from 2023

Trend Graphs

Balance Sheet Trend

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

$60M$40M$20M$0-$20MAssets 2017: $1,019,240Liabilities 2017: $1,106,020Net Assets 2017: -$86,7802017Assets 2018: $26,168,418Liabilities 2018: $13,662,965Net Assets 2018: $12,505,4532018Assets 2019: $30,290,395Liabilities 2019: $17,574,925Net Assets 2019: $12,715,4702019Assets 2020: $33,507,545Liabilities 2020: $20,816,049Net Assets 2020: $12,691,4962020Assets 2021: $39,536,700Liabilities 2021: $25,531,950Net Assets 2021: $14,004,7502021Assets 2022: $40,128,234Liabilities 2022: $27,503,881Net Assets 2022: $12,624,3532022Assets 2023: $44,891,076Liabilities 2023: $29,169,562Net Assets 2023: $15,721,5142023Assets 2024: $46,586,763Liabilities 2024: $26,713,190Net Assets 2024: $19,873,5732024

Highlighted filing

2024

Assets$46,586,763
Liabilities$26,713,190
Net Assets$19,873,573

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2017: $139,600Expenses 2017: $210,209Net Income 2017: -$70,6092017Revenue 2018: $13,265,049Expenses 2018: $672,816Net Income 2018: $12,592,2332018Revenue 2019: $4,099,464Expenses 2019: $3,889,447Net Income 2019: $210,0172019Revenue 2020: $5,032,659Expenses 2020: $5,056,633Net Income 2020: -$23,9742020Revenue 2021: $5,262,373Expenses 2021: $3,949,119Net Income 2021: $1,313,2542021Revenue 2022: $8,055,442Expenses 2022: $5,036,597Net Income 2022: $3,018,8452022Revenue 2023: $8,874,466Expenses 2023: $5,629,678Net Income 2023: $3,244,7882023Revenue 2024: $10,798,417Expenses 2024: $5,993,380Net Income 2024: $4,805,0372024

Highlighted filing

2024

Revenue$10,798,417
Expenses$5,993,380
Net Income$4,805,037

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 6, 2025
Return Version
2024v5.0
Gross Receipts
$11,021,872
Mission and Program Overview

Mission

To encourage, promote, and foster revitalization projects and programs by offering loans, strategic planning and other support to economically disadvantaged communities in the great lakes watershed region that are unable to access support from traditional sources.

To encourage, promote, and foster community revitalization projects and programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$23,613,616$26,157,037▲ $2,543,421
Savings and Temporary Cash Investments$12,270,895$17,315,332▲ $5,044,437
Cash and Non-Interest-Bearing Accounts$7,370,521$540,993▼ $6,829,528
Receivables From Officers Etc$65,873$473,998▲ $408,125
Pledges and Grants Receivable$279,835$138,701▼ $141,134
Prepaid Expenses and Deferred Charges$43,762$58,759▲ $14,997
Accounts Receivable$35,000$22,500▼ $12,500
Total Assets$44,891,076$46,586,763▲ $1,695,687
Other Assets Total$1,211,574$1,879,443▲ $667,869
Liabilities
Unsecured Notes Loans Payable$10,742,763$12,200,816▲ $1,458,053
Mortgage Notes Payable Secured by Investment Property$9,273,909$7,774,678▼ $1,499,231
Deferred Revenue$8,261,396$5,962,929▼ $2,298,467
Other Liabilities$443,110$403,023▼ $40,087
Accounts Payable and Accrued Expenses$448,384$371,744▼ $76,640
Total Liabilities$29,169,562$26,713,190▼ $2,456,372
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$15,721,514$19,873,573▲ $4,152,059
Total Net Assets Fund Balance$15,721,514$19,873,573▲ $4,152,059
Total Liabilities and Net Assets / Fund Balance$44,891,076$46,586,763▲ $1,695,687
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Elizabeth SangalliPresident/ceFT$197,450$17,569$215,019
Elizabeth SangalliPresident/CEO-$197,450$17,569$215,019
Jill MillerCFOFT$128,357$32,970$161,327
Amanda BlondeauChief StrateFT$121,513$19,235$140,748
Charles HurstVP of LendinFT$124,826$9,614$134,440

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Atomic Object LLCSoftware Devel.1034 WEALTHY ST SE, Grand Rapids, MI 49506$214,693
Revenue and Support

Revenue Composition

Contributions and Grants
$7,047,897
Program Service Revenue
$3,140,008
Investment Income
$610,512
Other Revenue
$0
All Other Contributions
$1,556,380
Change in Net Assets
$4,805,037
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,303,557
Other Expenses$1,977,893
Grants and Similar Amounts Paid$711,930
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,516,930$413,993-$1,930,923
Grants to Domestic Individuals$711,930--$711,930
Fees for Services Other$556,445$119,059-$675,504
Current Officers, Directors, Trustees, and Key Employees$564,355$87,179-$651,534
Other Employee Benefits$336,856$52,054-$388,910
Interest$348,744--$348,744
Travel$122,036$97,338-$219,374
Payroll Taxes$173,605$26,827-$200,432
Office Expenses$115,709$27,819-$143,528
Pension Plan Contributions$114,123$17,635-$131,758
Conferences and Meetings$60,662$27,335-$87,997
Occupancy$75,114$5,746-$80,860
Fees for Services Legal$78,921--$78,921
All Other Expenses$62,116$12,577-$74,693
Advertising$42,683$5,958-$48,641
Other Expenses$35,014$291-$35,014
Fees for Services Accounting$23,885$4,249-$28,134
Insurance$23,789$661-$24,450
Total Functional Expenses$5,031,985$961,395$0$5,993,380
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

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$65,873$473,998▲ $408,125
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$403,023
Governance and Compliance

Governance Checklist

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

Governance Explanations

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

The organization has four classes of trustees. Class a, b and c trustees have equal voting rights. Five class a trustees are appointed by northern michigan university (a tax-exempt organization). Ten class b trustees are appointed by a majority vote of the class b trustees. One class c trustee is appointed by the michigan strategic fund. Class d trustees are non-voting and are considered an emeritus and training class. Up to five class d trustees are appointed by a majority vote of class a and b trustees. In addition, the president of the organization is an ex-officio board member with one voting right.

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

A copy of the form 990 is provided to the board of trustees via email prior to filing and a final copy of the return is included in the november board packet.

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

The code of ethics policy is annually signed by trustees and requires them to attach a list of all ownership interests/activities which may constitute a conflict of interest with the organization. In addition, no employee, officer or credit committee member shall participate in any processing, review, approval or documentation affecting any potential loan in which they have a conflict or could be prerceived to have a conflict.

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

The presidents compensation is determined by the executive committee of the board of trustees. A wage and salary study was done by an independent company for all employees a few years ago.

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

Compensation for other officers is reviewed by the president and included in the budget process that is provided to the board of trustees. A wage and salary study was done by an independent company for all employees a few years ago.

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
Northern Great Lakes Initiatives
EIN
47-3130767
Phone
9062285571
Address
101 W WASHINGTON STREET STE 9, MARQUETTE, MI 49855

Signing Officer

Name
Elizabeth Sangalli
Title
President/CEO
Phone
9062285571
Signed
2025-10-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Elizabeth Sangalli
Formed
2014
Legal Domicile
Mi
Voting Board Members
18
Independent Board Members
17
Employees
36
Volunteers
20

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 - ORGANIZATION'S MISSION

To encourage, promote, and foster revitalization projects and programs by offering loans, strategic planning and other support to economically disadvantaged communities in the great lakes watershed region that are unable to access support from traditional sources. Business development resources are available to users outside of the great lakes watershed region.

Form 990, Part IX, Line 11G

Professional service contract 556,445 119,059 0

Form 990, Part XI, Line 9

Change in allowance for loan losses -652,978

Financial Statement Notes

Schedule D, Page 3, Part X

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

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