Civic Intelligence

Oceana County Development Corporation

EIN 92-0351744 • 501(c)3 • Shelby, MI

Profile

To construct single family homes for low and moderate income individuals in oceana county.

2999 S Timber Dunes RoadShelby, MI 49455

n/A

Siviq Scores

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

Liabilities / Assets

95th percentile

1.07x

Higher debt load relative to assets than 95% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

95th percentile

6.08x

Higher debt load relative to revenue than 95% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

2nd percentile

-142%

Higher net margin than 2% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

97th percentile

135%

Faster asset growth than 97% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

35th percentile

0.7%

Faster revenue growth than 35% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets95th percentile

Assets

Up

$10,432,522

Up $5,987,205 (+135%) from 2023

Liabilities

Up

$11,153,920

Up $8,599,141 (+337%) from 2023

Net Assets

Down

-$721,398

Down $2,611,936 (-138%) from 2023

Operations
Liabilities / Revenue95th percentileNet Margin2nd percentile

Revenue

Up

$1,833,178

Up $12,979 (+0.7%) from 2023

Expenses

Up

$4,445,114

Up $4,323,684 (+3561%) from 2023

Net Income

Down

-$2,611,936

Down $4,310,705 (-254%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth97th percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2022: $191,769Liabilities 2022: $0Net Assets 2022: $191,7692022Assets 2023: $4,445,317Liabilities 2023: $2,554,779Net Assets 2023: $1,890,5382023Assets 2024: $10,432,522Liabilities 2024: $11,153,920Net Assets 2024: -$721,3982024

Highlighted filing

2024

Assets$10,432,522
Liabilities$11,153,920
Net Assets-$721,398
Open 2024 Filing

Operations Trend

Revenue Growth35th percentile

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

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MRevenue 2022: $200,007Expenses 2022: $8,238Net Income 2022: $191,7692022Revenue 2023: $1,820,199Expenses 2023: $121,430Net Income 2023: $1,698,7692023Revenue 2024: $1,833,178Expenses 2024: $4,445,114Net Income 2024: -$2,611,9362024

Highlighted filing

2024

Revenue$1,833,178
Expenses$4,445,114
Net Income-$2,611,936
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$10,432,522
Liabilities
$11,153,920
Net assets
-$721,398
Revenue
$1,833,178
Expenses
$4,445,114
Net income
-$2,611,936
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.4$11.2$0.72$1.83$4.45$2.61
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.45$2.55$1.89$1.82$0.12$1.70
2022Detailed filing. Detailed filing data is available for this year.$0.19$0.00$0.19$0.20$0.01$0.19
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 7, 2025
Return Version
2024v5.2
Gross Receipts
$1,833,178
Mission and Program Overview

Mission

To construct single family homes for low and moderate income individuals in oceana county.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$560,370$1,403,354▲ $842,984
Land, Buildings, and Equipment, Net$1,020,000$1,020,000→ $0
Pledges and Grants Receivable-$10,000-
Total Assets$4,445,317$10,432,522▲ $5,987,205
Other Assets Total$2,864,947$7,999,168▲ $5,134,221
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,545,208$11,150,420▲ $8,605,212
Accounts Payable and Accrued Expenses$9,571$3,500▼ $6,071
Total Liabilities$2,554,779$11,153,920▲ $8,599,141
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,890,538$-721,398▼ $2,611,936
Total Net Assets Fund Balance$1,890,538$-721,398▼ $2,611,936
Total Liabilities and Net Assets / Fund Balance$4,445,317$10,432,522▲ $5,987,205

Asset Categories

AssetBook ValueDepreciationBasis
Land$1,020,000-$1,020,000
Other Assets Org$10,440--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Earl L PetersonPresident/treasurer
Linda a PetersonVice President/secretary
Curt VanderwallDirector
Gabriela PetersonDirector
Jon BumsteadDirector
Mishelle ComstockDirector
Richard RaffaelliDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Full Throttle ExcavatingConstruction3590 SOUTH 88TH AVENUE, New Era, MI 49446$1,379,093
Revenue and Support

Revenue Composition

Contributions and Grants
$149,975
Program Service Revenue
$1,683,000
Investment Income
$203
Other Revenue
$0
Change in Net Assets
$-2,611,936
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,402,314
Grants and Similar Amounts Paid$42,800
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$355,212--$355,212
Fees for Services Accounting-$55,849-$55,849
Grants to Domestic Individuals$42,800--$42,800
Occupancy$29,956--$29,956
Insurance$23,961--$23,961
Fees for Services Legal-$19,235-$19,235
Fees for Services Other-$2,848-$2,848
Other Expenses$2,250--$2,250
All Other Expenses$100$1,218-$1,318
Office Expenses-$91-$91
Total Functional Expenses$4,365,873$79,241$0$4,445,114
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
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
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 A, Line 2

“Earl peterson, linda peterson, and gabriela peterson have a family relationship. Richard raffaelli has a business relationship with the petersons.”

Form 990, Part VI, Section B, Line 11B

“The form 990, including all required schedules, is provided to the board of trustees prior to being filed with the irs. Members are asked to submit any questions or comments regarding the form 990 within a specified time period prior to the date the return is to be filed.”

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

“At any meeting of the board of directors, any director who has a personal financial interest in the action being discussed or taken by the board of directors (including without limitation matters of compensation) shall, upon request of the board, recuse himself or herself from at least a portion of the board discussion of that matter, and from the vote on the proposed action. This recusal shall be reflected in the minutes of the meeting. In situations where a director has so recused himself or herself, the recused director shall be counted for purposes of determining whether a quorum is present, but shall not be counted for purposes of determining the majority necessary to approve the action.”

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

“No compensation shall be paid to the officers for services rendered to the corporation as officers. Nothing contained in this section, however, shall be construed to preclude any officer from serving the corporation in any other capacity and receiving compensation therefore.”

Form 990, Part VI, Section C, Line 19

“The organization's conflict of interest policy, 990, and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Oceana County Development Corporation
EIN
92-0351744
Phone
6163366587
Address
2999 S TIMBER DUNES ROAD, SHELBY, MI 49455

Signing Officer

Name
Earl Peterson
Title
President
Phone
6163366587
Signed
2025-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Earl Peterson
Formed
2022
Legal Domicile
Mi
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Plante & Moran Pllc
Address
8181 E TUFTS AVE SUITE 600, DENVER, CO 80237
Preparer
Dori J Eggett
Phone
3037409400
Raw XML Appendix390 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.

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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0200007
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt03853384
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/LandGrp/BookValueAmt01020000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01020000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt07988728
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt110440
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CONSTRUCTION IN PROGRESS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1REFUNDABLE HOA DUES
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01020000
IRS990ScheduleD/TotalBookValueOtherAssetsAmt07999168
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt042800
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0DOWNPAYMENT ASSISTANCE
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt01
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0POTENTIAL RECIPIENTS NEED TO BE PRE-QUALIFIED FROM A MORTGAGE LENDER AND APPLY FOR DOWN PAYMENT ASSISTANCE. APPROVALS ARE MADE BY A 3-MEMBER COMMITTEE CONSISTING OF REPRESENTATIVES FROM THE OCEANA COUNTY DEVELOPMENT CORPORATION (OCDC), THE COMMUNITY FOUNDATION FOR OCEANA COUNTY, AND SHELBY STATE BANK. APPROVAL WILL BE BASED UPON A REVIEW OF THE APPLICANT'S INCOME SOURCES, HISTORY AND STABILITY OF INCOME EARNINGS, WITH THE REWARD CONTINGENT UPON THE APPLICANT CLOSING ON THE PURCHASE OF A HOME FROM OCDC. ACCEPTANCE OF THE DPA REQUIRES A 5-YEAR COMMITMENT TO LIVE IN THE SELECTED HOME. THE HOMEOWNER WILL BE REQUIRED TO SIGN A "REPURCHASE OPTION AGREEMENT" AT THE TIME OF CLOSING. DOWN PAYMENT ASSISTANCE IS A CREDIT ON THE BUYER'S STATEMENT AT TIME OF CLOSING.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EARL PETERSON, LINDA PETERSON, AND GABRIELA PETERSON HAVE A FAMILY RELATIONSHIP. RICHARD RAFFAELLI HAS A BUSINESS RELATIONSHIP WITH THE PETERSONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990, INCLUDING ALL REQUIRED SCHEDULES, IS PROVIDED TO THE BOARD OF TRUSTEES PRIOR TO BEING FILED WITH THE IRS. MEMBERS ARE ASKED TO SUBMIT ANY QUESTIONS OR COMMENTS REGARDING THE FORM 990 WITHIN A SPECIFIED TIME PERIOD PRIOR TO THE DATE THE RETURN IS TO BE FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AT ANY MEETING OF THE BOARD OF DIRECTORS, ANY DIRECTOR WHO HAS A PERSONAL FINANCIAL INTEREST IN THE ACTION BEING DISCUSSED OR TAKEN BY THE BOARD OF DIRECTORS (INCLUDING WITHOUT LIMITATION MATTERS OF COMPENSATION) SHALL, UPON REQUEST OF THE BOARD, RECUSE HIMSELF OR HERSELF FROM AT LEAST A PORTION OF THE BOARD DISCUSSION OF THAT MATTER, AND FROM THE VOTE ON THE PROPOSED ACTION. THIS RECUSAL SHALL BE REFLECTED IN THE MINUTES OF THE MEETING. IN SITUATIONS WHERE A DIRECTOR HAS SO RECUSED HIMSELF OR HERSELF, THE RECUSED DIRECTOR SHALL BE COUNTED FOR PURPOSES OF DETERMINING WHETHER A QUORUM IS PRESENT, BUT SHALL NOT BE COUNTED FOR PURPOSES OF DETERMINING THE MAJORITY NECESSARY TO APPROVE THE ACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO COMPENSATION SHALL BE PAID TO THE OFFICERS FOR SERVICES RENDERED TO THE CORPORATION AS OFFICERS. NOTHING CONTAINED IN THIS SECTION, HOWEVER, SHALL BE CONSTRUED TO PRECLUDE ANY OFFICER FROM SERVING THE CORPORATION IN ANY OTHER CAPACITY AND RECEIVING COMPENSATION THEREFORE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S CONFLICT OF INTEREST POLICY, 990, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MI
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt04445317
IRS990/TotalAssetsEOYAmt010432522
IRS990/TotalAssetsGrp/BOYAmt04445317
IRS990/TotalAssetsGrp/EOYAmt010432522
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0149975
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt079241
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt04365873
IRS990/TotalFunctionalExpensesGrp/TotalAmt04445114
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02554779
IRS990/TotalLiabilitiesEOYAmt011153920
IRS990/TotalLiabilitiesGrp/BOYAmt02554779
IRS990/TotalLiabilitiesGrp/EOYAmt011153920
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01890538
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-721398
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt04365873
IRS990/TotalProgramServiceRevenueAmt01683000
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0203
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01683000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01833178
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04445317
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt010432522
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02999 S TIMBER DUNES ROAD
IRS990/USAddress/CityNm0SHELBY
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd049455
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0EARL PETERSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06163366587
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OCEANA COUNTY DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0OCEA
ReturnHeader/Filer/EIN0920351744
ReturnHeader/Filer/PhoneNum06163366587
ReturnHeader/Filer/USAddress/AddressLine1Txt02999 S TIMBER DUNES ROAD
ReturnHeader/Filer/USAddress/CityNm0SHELBY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd049455
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0331498605
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PLANTE & MORAN PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt08181 E TUFTS AVE SUITE 600
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DENVER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd080237
ReturnHeader/PreparerPersonGrp/PhoneNum03037409400
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DORI J EGGETT
ReturnHeader/ReturnTs02025-11-11T08:17:37-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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