2022-08-30T10:02:39-05:00 2021-12-31 382806590 MAKELA TOUTANT HILL NARDI & KATONA PC 201 W BLUFF STREET MARQUETTE MI 49855 990 2021-01-01 473130767 NORTHERN GREAT LAKES INITIATIVES NORT 9062285571 101 W WASHINGTON STREET 9 MARQUETTE MI 49855 ELISSA SANGALLI PRESIDENT 9062285571 2022-08-23 1 ELISSA SANGALLI 999009999 KARA A KATONA CPA P00726523 9062283600 2022-08-23 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z X ELISSA SANGALLI 101 W WASHINGTON STREET 9 MARQUETTE MI 49855 5625955 0 X WWW.NORTHERNINITIATIVES.ORG X 2014 MI TO ENCOURAGE, PROMOTE, AND FOSTER COMMUNITY REVITALIZATION PROJECTS AND PROGRAMS. 21 19 33 20 0 0 3204688 3005441 1823804 2252453 4167 4479 0 0 5032659 5262373 0 10000 0 0 2117973 2312241 0 0 0 2938660 1626878 5056633 3949119 -23974 1313254 33507545 39536700 20816049 25531950 12691496 14004750 X 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. 0 0 2109731 1684343 FINANCE SERVICES: PROVIDED AFFORDABLE ACCESS TO CAPITAL TO RURAL AND UNDERSERVED MARKETS FROM ITS REVOLVING LOAN FUND AND ASSOCIATED GRANTS. 995865 10000 557207 BUSINESS DEVELOPMENT SERVICES: PROVIDED CONSULTING, TRAINING AND TECHNICAL ASSISTANCE TO BUSINESSES FOR PROCESS IMPROVEMENTS, SYSTEMS DEVELOPMENT, MARKET RESEARCH SERVICES, E-COMMERCE SERVICES, ACCOUNTING AND MARKETING ASSISTANCE. 3105596 1 1 0 1 0 0 0 0 1 0 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 29 0 1 33 1 0 0 0 0 0 0 0 0 0 0 0 0 X 21 19 0 0 0 0 0 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 MI X JILL MILLER 9062285571 101 W WASHINGTON STREET SUITE 9 MARQUETTE MI 49855 ELISSA SANGALLI PRESIDENT 48.58 X X 141908 0 14639 DR ERIC TRAVAN TRUSTEE 0.50 X 0 0 0 ALFRED JOYAL III CHAIRPERSON 0.50 X X 0 0 0 THOMAS VEAR TRUSTEE 0.50 X 0 0 0 KATHY MASON TREASURER 0.50 X X 0 0 0 CHARLES VAN LOAN TRUSTEE 0.50 X 0 0 0 MARY HOUGHTON SECRETARY 0.50 X X 0 0 0 RON GRZYWINSKI ASSISTANT SECRETARY 0.50 X X 0 0 0 WES MAURER JR SECRETARY 0.50 X X 0 0 0 KEVIN BOYLE TRUSTEE 0.50 X 0 0 0 R GAVIN LEACH TRUSTEE 0.50 X 0 0 0 JESSE SCHRAMM TRUSTEE 0.50 X 0 0 0 BOB VALENTINE TRUSTEE 0.50 X 0 0 0 CHANDRA MCMILLION TRUSTEE 0.50 X 0 0 0 PETER GRAVES TRUSTEE 0.50 X 0 0 0 MARK WILLIAMS TRUSTEE 0.50 X 0 0 0 SARA PROANO TRUSTEE 0.50 X 0 0 0 MEREDITH FREEMAN TRUSTEE 0.50 X 0 0 0 GREG WEST TRUSTEE 0.50 X 0 0 0 CAROL JOHNSON TRUSTEE 0.50 X 0 0 0 CHARLES H HURST VICE PRESIDENT LENDING 40.42 X 103291 0 9461 245199 0 24100 2 0 1 0 SITINGRAY ADVISORY 225 MICHIGAN AVE NW 1007 GRAND RAPIDS MI 49501 BUSINESS COACHING 104568 1 1668322 1337119 3005441 LOAN INTEREST 525990 1342150 1342150 PROGRAM FEES 541900 557207 557207 LOAN FEES 525990 353096 353096 2252453 15382 15382 352679 363582 -10903 -10903 -10903 5262373 2241550 0 15382 X 10000 10000 270604 195322 75282 1576244 1175621 400623 100286 75697 24589 226693 170701 55992 138414 103860 34554 46795 37130 9665 32354 28552 3802 31149 27488 3661 4000 3530 470 485489 378709 106780 19935 13067 6868 151022 108826 42196 101134 94439 6695 47120 15680 31440 18177 6524 11653 396743 396743 28636 26861 1775 BAD DEBT EXPENSE 180630 180630 FEES AND LICENSES 69087 45286 23801 14607 10930 3677 3949119 3105596 843523 0 15143660 22259966 305016 695288 17567216 16168362 18170 41916 105605 105605 0 0 473483 371168 33507545 39536700 343137 485537 1510262 4776023 19000 31000 11242150 11012445 7701500 9226945 20816049 25531950 X 6739195 9501536 5952301 4503214 12691496 14004750 33507545 39536700 1313254 0 X 0 1 X 1 1 1 X 115607 13169841 2420183 3204688 3005441 21915760 115607 13169841 2420183 3204688 3005441 21915760 2410544 19505216 1461 78582 41199 15382 136624 22052384 5782059 0.88450 0.90870 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 11250 0 0 0 11250 0 PART II-B, LINE 1: LINE 1F REPRESENTS PAYMENTS TO RAPOZA FOR LOBBYING ACTIVITIES. 0 1 X 105605 105605 0 0 X PART IV, LINE 2B: THE ESCROW LIABILITY ACCOUNT CONSISTS OF $31,000 FOR REPLACEMENT OF AN UNDERGROUND GAS TANK. PART X, LINE 2: NORTHERN INITIATIVES IS A NONPROFIT CORPORATION UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND, AS SUCH, IS NOT SUBJECT TO INCOME TAXES. NORTHERN INITIATIVES HAS FILED INTERNAL REVENUE SERVICE FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, AS REQUIRED. NORTHERN INITIATIVES BELIEVES THAT ITS INCOME TAX FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE EFFECT ON NORTHERN INITIATIVES' FINANCIAL CONDITION, RESULTS OF OPERATIONS, OR CASH FLOWS. X X 0 0 0 0 0 0 0 0 0 ELISSA SANGALLI PRESIDENT 140654 0 0 0 1254 0 9225 0 6081 0 157214 0 0 0 FORM 990, PART VI, SECTION A, 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, PART VI, SECTION B, 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, PART VI, SECTION B, 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, PART VI, SECTION B, LINE 15 THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. COMPENSATION FOR THE OTHER OFFICER 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, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G OTHER FEES: PROGRAM SERVICE EXPENSES 347,791. MANAGEMENT AND GENERAL EXPENSES 90,531. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 438,322. LOAN CLOSING FEES: PROGRAM SERVICE EXPENSES 30,918. MANAGEMENT AND GENERAL EXPENSES 16,249. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 47,167. UP BUSINESS CAPITAL INC 101 W WASHINGTON STREET STE 9 MARQUETTE MI 49855 452471096 LENDING & EQUITY INVESTING MI 501(C)(3) LINE 7 NORTHERN GREAT LAKES INITIATIVES 1 UPPER PENINSULA CERTIFIED DEVELOPMENT COMPANY 101 W WASHINGTON STREET STE 9 MARQUETTE MI 49855 462796593 LENDING MI 501(C)(4) NORTHERN GREAT LAKES INITIATIVES 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 0