Totals
- Total revenue
- $22,355
- Total expenses
- $46,592
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $22,291
- Investment income
- $64
- Other revenue
- $0
- Total assets, end of year
- $604,836
- Total liabilities, end of year
- $474,256
- Net assets or fund balances, end of year
- $130,580
- Program services expenses (Part IX)
- $29,594
- Management and general expenses
- $16,998
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $29,594
Program services were 63.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: LOAN INTEREST
total $20,978 · related or exempt $20,978
-
2b · Program service revenue: LOAN FEES
total $1,313 · related or exempt $1,313
-
3 · Investment income
total $64 · excluded $64
Functional expenses
Part IX, the statement of functional expenses.
-
11a · Fees: management
total $40,000 · program services $23,002 · management and general $16,998
-
13 · Office expenses
total $11 · program services $11
-
20 · Interest
total $4,899 · program services $4,899
-
24a · Other expenses: OTHER OPERATING
total $1,682 · program services $1,682
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $339,174 · end of year $357,635
-
7 · Other notes and loans receivable
beginning of year $338,922 · end of year $245,764
-
15 · Other assets
beginning of year $1,812 · end of year $1,437
-
23 · Secured mortgages and notes payable
beginning of year $520,790 · end of year $463,381
-
25 · Other liabilities
beginning of year $5,071 · end of year $10,875
-
27 · Net assets without donor restrictions
beginning of year $154,047 · end of year $130,580
Mission and programs · 2023
Mission
TO PROVIDE TAILORED BUSINESS SOLUTIONS TO ADVANCE AND CONNECT RURAL ECONOMIES AND THEIR COMMUNITIES.
Activities or mission (Part I)
TO PROVIDE TAILORED BUSINESS SOLUTIONS TO ADVANCE AND CONNECT RURAL ECONOMIES.
-
PROVIDED AFFORDABLE ACCESS TO CAPITAL TO RURAL UNDERSERVED MARKETS FROM THE CORPORATION'S REVOLVING LOAN FUND.
Expenses $29,594 · Revenue $22,291
As filed on the 2023 return.
Listed in Part VII
-
Elizabeth SangalliELIZABETH SANGALLI
PRESIDENT, B
- Total calculated
- $193,930
- From this org
- $0
- From related orgs
- $176,200
- Other
- $17,730
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- not reported + $176,200 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $11,453 related
- Nontaxable benefits
- not reported + $6,277 related
- Filer's total
- not reported + $193,930 related
-
Charles H HurstCHARLES H HURST
BOARD SECRET
- Total calculated
- $131,332
- From this org
- $0
- From related orgs
- $120,785
- Other
- $10,547
- Hours/week
- 1 + 40 related
-
Alfred Joyal IIIALFRED JOYAL III
BOARD DIRECT
- Total calculated
- $0
- Hours/week
- 0.02 + 0.5 related
-
Carol JohnsonCAROL JOHNSON
BOARD DIRECT
- Total calculated
- $0
- Hours/week
- 0.02 + 0.5 related
-
Wes Maurer JrWES MAURER JR
BOARD DIRECT
- Total calculated
- $0
- Hours/week
- 0.02 + 0.5 related
-
Peter GravesPETER GRAVES
BOARD DIRECT
- Total calculated
- $0
- Hours/week
- 0.02 + 0.5 related
-
Brian SheridanBRIAN SHERIDAN
BOARD DIRECT
- Total calculated
- $0
- Hours/week
- 0.02
-
Thomas VearTHOMAS VEAR
BOARD DIRECT
- Total calculated
- $0
- Hours/week
- 0.02 + 0.5 related
-
Jill MillerJILL MILLER
BOARD DIRECT
- Total calculated
- $125,306
- From this org
- $0
- From related orgs
- $92,310
- Other
- $32,996
- Hours/week
- 1 + 40 related
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
NORTHERN GREAT LAKES INITIATIVES
501C3 · LENDING · MI
-
UP CERTIFIED DEVELOPMENT COMPANY
501C4 · LENDING · MI
Directly controlled by NGLI
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 13 November 2024
- IRS schema version
- 2023v5.0
- Source object
- 202443209349313524
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.