Civic Intelligence

Start Garden LLC

990 • Fiscal year 2019 • EIN 81-1987459

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 13, 2020

40 Pearl Street NWGrand Rapids, MI 49503

(616) 669-4141

Siviq Scores

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

Liabilities / Assets

77th percentile

0.39x

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

67th percentile

0.22x

Higher debt load relative to revenue than 67% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

54th percentile

4.8%

Higher net margin than 54% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

83rd percentile

$146,618

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 3.8% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

87th percentile

35%

Faster asset growth than 87% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

84th percentile

38%

Faster revenue growth than 84% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$2,164,329

Up $558,317 (+35%) from 2018

Net Assets

Up

$1,317,029

Up $183,436 (+16%) from 2018

Liabilities

Up

$847,300

Up $374,881 (+79%) from 2018

Revenue

Up

$3,815,777

Up $1,047,595 (+38%) from 2018

Expenses

Up

$3,632,341

Up $862,233 (+31%) from 2018

Net Income

Up

$183,436

Up $185,362 (+9624%) from 2018

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$0-$1.0MAssets 2016: $336,296Liabilities 2016: $366,092Net Assets 2016: -$29,7962016Assets 2017: $804,012Liabilities 2017: $17,058Net Assets 2017: $786,9542017Assets 2018: $1,606,012Liabilities 2018: $472,419Net Assets 2018: $1,133,5932018Assets 2019: $2,164,329Liabilities 2019: $847,300Net Assets 2019: $1,317,0292019Assets 2020: $1,184,501Liabilities 2020: $267,885Net Assets 2020: $916,6162020Assets 2021: $2,322,407Liabilities 2021: $331,940Net Assets 2021: $1,990,4672021Assets 2022: $2,309,768Liabilities 2022: $877,286Net Assets 2022: $1,432,4822022Assets 2023: $1,026,706Liabilities 2023: $706,024Net Assets 2023: $320,6822023Assets 2024: $2,150,744Liabilities 2024: $437,177Net Assets 2024: $1,713,5672024

Highlighted filing

2019

Assets$2,164,329
Liabilities$847,300
Net Assets$1,317,029

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2016: $1,422,473Expenses 2016: $1,452,269Net Income 2016: -$29,7962016Revenue 2017: $2,777,612Expenses 2017: $2,104,122Net Income 2017: $673,4902017Revenue 2018: $2,768,182Expenses 2018: $2,770,108Net Income 2018: -$1,9262018Revenue 2019: $3,815,777Expenses 2019: $3,632,341Net Income 2019: $183,4362019Revenue 2020: $2,747,194Expenses 2020: $3,147,607Net Income 2020: -$400,4132020Revenue 2021: $3,395,121Expenses 2021: $2,321,270Net Income 2021: $1,073,8512021Revenue 2022: $1,857,506Expenses 2022: $2,415,491Net Income 2022: -$557,9852022Revenue 2023: $1,291,217Expenses 2023: $2,403,017Net Income 2023: -$1,111,8002023Revenue 2024: $4,456,215Expenses 2024: $3,063,330Net Income 2024: $1,392,8852024

Highlighted filing

2019

Revenue$3,815,777
Expenses$3,632,341
Net Income$183,436
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 13, 2020
Return Version
2019v5.1
Gross Receipts
$3,815,777
Mission and Program Overview

Mission

The mission of Start Garden is to bring together financial, intellectual and social capital to entrepreneurs to empower the startup ecosystem of West Michigan.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$268,383$778,749▲ $510,366
Pledges and Grants Receivable$443,700$749,853▲ $306,153
Savings and Temporary Cash Investments$426,347$429,054▲ $2,707
Accounts Receivable$426,375$122,685▼ $303,690
Prepaid Expenses and Deferred Charges$35,309$79,460▲ $44,151
Land, Buildings, and Equipment, Net$5,898$4,528▼ $1,370
Total Assets$1,606,012$2,164,329▲ $558,317
Liabilities
Accounts Payable and Accrued Expenses$99,786$458,967▲ $359,181
Deferred Revenue$372,633$388,333▲ $15,700
Total Liabilities$472,419$847,300▲ $374,881
Net Assets / Fund Balance
Net Assets With Donor Restrictions$601,793$669,450▲ $67,657
Net Assets Without Donor Restrictions$531,800$647,579▲ $115,779
Total Net Assets Fund Balance$1,133,593$1,317,029▲ $183,436
Total Liabilities and Net Assets / Fund Balance$1,606,012$2,164,329▲ $558,317

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,528$4,009$8,537
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mike MorinPresidentFT$125,835$20,783$146,618
Darel RossDirectorFT$126,421$18,310$144,731
Paul MooreDirectorFT$101,290$20,812$122,102
Jorge GonzalezDirectorFT$97,496$20,617$118,113

Board Members and Trustees

NameTitle
Bill LawrenceDirector
Craig HallDirector
Daniel WilliamsDirector
Larry HinesDirector
Luciano HernandezDirector
Mary ONeilDirector
Hannah NaltnerSecretary
Joe LampenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,451,489
Program Service Revenue
$1,361,581
Investment Income
$2,707
Other Revenue
$0
All Other Contributions
$1,626,489
Change in Net Assets
$183,436

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,815,777
Total Revenue per Audited Statements
$3,815,777
Total Revenue per Form 990
$3,815,777
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,026,208
Salaries, Compensation, and Employee Benefits$1,253,633
Grants and Similar Amounts Paid$352,500
Total Fundraising Expense$250,816
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$621,972--$621,972
Current Officers, Directors, Trustees, and Key Employees$367,753$39,198$124,612$531,563
Other Salaries and Wages$472,229$50,962$4,992$528,183
Occupancy$317,635$33,877$44,189$395,701
Fees for Services Other$317,224$1,867$2,460$321,551
Grants to Domestic Individuals$269,500--$269,500
Conferences and Meetings$185,071$10,362$13,516$208,949
Advertising$124,164$16,337$22,872$163,373
Travel$95,713$10,208$13,315$119,236
Other Employee Benefits$91,273$9,556$2,326$103,155
Grants to Domestic Orgs$83,000--$83,000
Office Expenses$56,170$8,119$7,814$72,103
Payroll Taxes$57,407$6,123$7,986$71,516
Fees for Services Accounting-$67,966-$67,966
Information Technology$36,340$4,719$6,235$47,294
Pension Plan Contributions$17,649$1,486$81$19,216
Fees for Services Legal-$4,323-$4,323
Insurance$1,902$203$265$2,370
Depreciation Depletion$1,100$117$153$1,370
Total Functional Expenses$3,116,102$265,423$250,816$3,632,341

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,632,341
Total Expenses per Audited Statements$3,632,341
Total Expenses per Form 990$3,632,341
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
GR Noir LLCGrand Rapids, MI-Start up expenses$21,000
Polished CrownGrand Rapids, MI-Start up expenses$21,000
Wareologie LLCNorthville, MI-Start up expenses$21,000
Life is DigitalSouthfield, MI-Idea winner$5,000
Mindset MealsGrandville, MI-Idea winner$5,000
Rise Salon LLCGrand Rapids, MI-Idea winner$5,000
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
No
Annual disclosure for covered persons
Yes
Audit committee
No
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 governing body review Part VI line 11

The 990 is reviewed by the executive director and board treasurer and provided to all board members prior to filing.

Conflict of interest policy compliance Part VI line 12C

After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. If the board or committee members determine that a conflict exists, the board chair shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the board or committee shall determine by a majority vote of the disinterested members whether the transaction or arrangement is in the best interest of the corporation.

Governing documents etc available to public Part VI line 19

The governing documents, conflict of interest policy and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Start Garden Inc
EIN
81-1987459
Address
40 Pearl Street NW, Grand Rapids, MI 49503

Signing Officer

Name
Mike Morin
Title
President
Signed
2020-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mike Morin
Formed
2016
Legal Domicile
Mi
Voting Board Members
8
Independent Board Members
8
Employees
24

Preparer

Firm
James H Quist CPA PLC
Address
2425 Avon Ave SW, Wyoming, MI 49519
Preparer
James H Quist CPA
Phone
6164435344
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