Civic Intelligence

Folds of Honor Michigan Inc

EIN 81-3386786 • 501(c)3 • Grand Haven, MI

Profile

To fund educational scholarships for the dependents of fallen and disabled active duty military service members.

PO Box 73Grand Haven, MI 49417

www.michigan.foldsofhonor.org

Siviq Scores

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

Liabilities / Assets

90th percentile

0.78x

Higher debt load relative to assets than 90% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

48th percentile

0.07x

Higher debt load relative to revenue than 48% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

24th percentile

-7.9%

Higher net margin than 24% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

9th percentile

-22%

Faster asset growth than 9% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

95th percentile

182%

Faster revenue growth than 95% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$98,641

Down $27,571 (-22%) from 2023

Liabilities

Up

$76,520

Up $76,520 from 2023

Net Assets

Down

$22,121

Down $104,091 (-82%) from 2023

Revenue

Up

$1,147,462

Up $739,922 (+182%) from 2023

Expenses

Up

$1,238,074

Up $816,258 (+194%) from 2023

Net Income

Down

-$90,612

Down $76,336 (-535%) from 2023

Trend Graphs

Balance Sheet Trend

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

$150K$100K$50K$0Assets 2018: $55,340Liabilities 2018: $0Net Assets 2018: $55,3402018Assets 2019: $74,183Liabilities 2019: $0Net Assets 2019: $74,1832019Assets 2020: $13,434Liabilities 2020: $0Net Assets 2020: $13,4342020Assets 2021: $39,999Liabilities 2021: $0Net Assets 2021: $39,9992021Assets 2022: $140,488Liabilities 2022: $0Net Assets 2022: $140,4882022Assets 2023: $126,212Liabilities 2023: $0Net Assets 2023: $126,2122023Assets 2024: $98,641Liabilities 2024: $76,520Net Assets 2024: $22,1212024

Highlighted filing

2024

Assets$98,641
Liabilities$76,520
Net Assets$22,121

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2018: $73,073Expenses 2018: $80,356Net Income 2018: -$7,2832018Revenue 2019: $123,679Expenses 2019: $104,836Net Income 2019: $18,8432019Revenue 2020: $72,493Expenses 2020: $133,242Net Income 2020: -$60,7492020Revenue 2021: $246,885Expenses 2021: $220,320Net Income 2021: $26,5652021Revenue 2022: $671,859Expenses 2022: $571,370Net Income 2022: $100,4892022Revenue 2023: $407,540Expenses 2023: $421,816Net Income 2023: -$14,2762023Revenue 2024: $1,147,462Expenses 2024: $1,238,074Net Income 2024: -$90,6122024

Highlighted filing

2024

Revenue$1,147,462
Expenses$1,238,074
Net Income-$90,612

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 12, 2025
Return Version
2024v5.0
Gross Receipts
$1,352,913
Mission and Program Overview

Mission

To fund educational scholarships for the dependents of fallen and disabled active duty military service members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$126,212$95,416▼ $30,796
Prepaid Expenses and Deferred Charges-$3,225-
Total Assets$126,212$98,641▼ $27,571
Liabilities
Deferred Revenue-$76,520-
Total Liabilities$0$76,520▲ $76,520
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$126,212$22,121▼ $104,091
Total Net Assets Fund Balance$126,212$22,121▼ $104,091
Total Liabilities and Net Assets / Fund Balance$126,212$98,641▼ $27,571
Compensation and Service Providers

Board Members and Trustees

NameTitle
Chris StrengBoard Direct
Don KaliszBoard Direct
Doreen SmithBoard Direct
Gary McinerneyBoard Direct
Mark ArminioBoard Direct
Mark KelleyBoard Direct
Ryan FoleyBoard Direct
Scott SmithBoard Direct
Skip StrzeleckiBoard Direct
Ann DavisBoard Member
John SomersBoard Presid
Madonna KramerBoard Seceta
Scott WagaskyBoard Treasu
Doug BellBoard Vice P
Revenue and Support

Revenue Composition

Contributions and Grants
$1,104,527
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$42,935
All Other Contributions
$835,517
Change in Net Assets
$-90,612

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table216$22,280Retail Price
Other Non Cash Contri Table470$7,373Retail Price
Total Noncash Contributions686$29,653-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,352,913
Revenue Not Reported on Financial Statements
$-205,451
Other Revenue Adjustments
$-205,451
Total Revenue per Audited Statements
$1,352,913
Total Revenue per Form 990
$1,147,462
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,199,762
Other Expenses$38,312
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,199,762--$1,199,762
Fees for Services Accounting-$13,327-$13,327
Advertising$9,451$2,362-$11,813
Office Expenses$8,992$2,248-$11,240
Insurance$1,044$261-$1,305
Travel$377$94-$471
Other Expenses$32$8-$40
Total Functional Expenses$1,219,751$18,323$0$1,238,074

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,443,525
Total Expenses per Audited Statements$1,443,525
Total Expenses per Form 990$1,238,074
Expenses Not Reported on Financial Statements$-205,451
Other Expense Adjustments$-205,451
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Annual National TransferOwasso, OK501c3Scholarships$1,199,762
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$247,938
Fundraising Direct Expenses$205,451
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Febuary Gala$170,576$86,799$21,107$65,692
Roll Call$186,871$26,000$56,593$-30,593
Total Events$516,948$247,938$205,451$42,487
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
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
No
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 11B

A copy of the form 990 is provided to the board for review prior to filing. In addition, the national organization is provided a copy for review prior to filing.

Form 990, Page 6, Part VI, Line 19

Documents are available for public inspection upon request.

Filing and Contact Details

Filer

Filer Name
Folds of Honor Michigan Inc
EIN
81-3386786
Phone
6166387724
Address
PO BOX 73, GRAND HAVEN, MI 49417

Signing Officer

Name
John Somers
Title
Board President
Phone
6166387724
Signed
2025-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Somers
Formed
2016
Legal Domicile
Mi
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
20

Preparer

Firm
De Boer Baumann & Company Plc
Address
110 N THIRD STREET, GRAND HAVEN, MI 49417
Preparer
Kristin Hibbard
Phone
6168463350
Supplemental Narrative

Additional Explanations

Form 990, Page 12, Part XII, Line 1

Audit requirement for state license to solicit renewal includes requirement for accrual basis financial statements. 990 prepared in accordance with same basis of accounting.

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 4B

Direct fundraising expenses -205,451

Schedule D, Page 4, Part XII, Line 4B

Direct fundraising expenses -205,451

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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0624290
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0246885
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt072493
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0DIRECT FUNDRAISING EXPENSES -205,451
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1DIRECT FUNDRAISING EXPENSES -205,451
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0SCHOLARSHIPS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0ANNUAL NATIONAL TRANSFER
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt05971 PATRIOT DRIVE
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IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0OK
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd074055
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0USE OF FUNDS IS DETERMINED AND MONITORED BY THE NATIONAL ORGANIZATION.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
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IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0GOLF FEES
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc1MERCH DISCOUNT
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt0RETAIL PRICE
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt1RETAIL PRICE
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD FOR REVIEW PRIOR TO FILING. IN ADDITION, THE NATIONAL ORGANIZATION IS PROVIDED A COPY FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DOCUMENTS ARE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AUDIT REQUIREMENT FOR STATE LICENSE TO SOLICIT RENEWAL INCLUDES REQUIREMENT FOR ACCRUAL BASIS FINANCIAL STATEMENTS. 990 PREPARED IN ACCORDANCE WITH SAME BASIS OF ACCOUNTING.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 12, PART XII, LINE 1
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IRS990/TotalRevenueGrp/ExclusionAmt042935
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IRS990/TotalVolunteersCnt020

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