2020-11-03T07:46:46-06:00 2019-12-31 382806590 MAKELA TOUTANT HILL NARDI & KATONA PC 201 W BLUFF STREET MARQUETTE MI 49855 990 2019-01-01 473130767 NORTHERN GREAT LAKES INITIATIVES NORT 9062285571 1401 PRESQUE ISLE JACOBETTI NO 2 MARQUETTE MI 49855 CHARLES H HURST VICE PRESIDENT LENDING 9062285571 2020-10-28 1 ROBIN RAUVALA CPA P00070626 9062283600 2020-10-28 71.13.97.2 2020-10-28 15:54:39 ED P C34178C4AD196BEDDF05D8A64894AD230430D76C ED16A8CD629A649499B569876F265A38B76BDBDB 2019 2021-01-29 14:40:06Z ELISSA SANGALLI 1401 PRESQUE ISLE JACOBETTI NO 202 MARQUETTE MI 49855 4240397 0 X WWW.NORTHERNINITIATIVES.ORG X 2014 MI TO ENCOURAGE, PROMOTE, AND FOSTER COMMUNITY REVITALIZATION PROJECTS AND PROGRAMS. 20 19 31 20 0 0 13169841 2420183 93747 1588062 1461 91219 0 0 13265049 4099464 0 0 0 0 0 1938528 0 0 0 672816 1950919 672816 3889447 12592233 210017 26168418 30290395 13662965 17574925 12505453 12715470 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. 0 0 2573653 1303928 FINANCE SERVICES: PROVIDED AFFORDABLE ACCESS TO CAPITAL TO RURAL AND UNDERSERVED MARKETS FROM ITS REVOLVING LOAN FUND AND ASSOCIATED GRANTS. 824448 296771 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. 3398101 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 21 0 1 31 1 0 0 0 0 0 0 0 0 0 0 0 0 X 20 19 0 0 1 0 0 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 MI X TERRI GOVERN 9062285571 1401 PRESQUE ISLE JACOBETTI COMPLEX MARQUETTE MI 49855 DENNIS J WEST PRESIDENT 47.00 X X 145295 0 35181 ALFRED JOYAL III CHAIRPERSON 0.50 X X 0 0 0 THOMAS VEAR VICE CHAIRPERSON 0.50 X X 0 0 0 KATHY MASON TREASURER 0.50 X X 0 0 0 CHARLES VAN LOAN ASSISTANT TREASURER 0.50 X 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 ASSISTANT SECRETARY 0.50 X X 0 0 0 KEVIN BOYLE TRUSTEE 0.50 X 0 0 0 ROBERT ESLINGER 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 ELISSA SANGALLI HILLARY 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 CHARLES H HURST VICE PRESIDENT LENDING 40.30 X 102515 0 8158 247810 0 43339 2 0 1 0 0 1189573 1230610 2420183 LOAN INTEREST 525990 1112856 1112856 PROGRAM FEES 541900 296771 296771 LOAN FEES 525990 178435 178435 1588062 78582 78582 153570 140933 12637 12637 12637 4099464 1600699 0 78582 292347 214496 77851 1274077 1104313 169764 81963 73158 8805 175274 155686 19588 114867 99556 15311 30155 25816 4339 50471 40575 9896 28124 22672 5452 4000 3216 784 341309 283148 58161 16598 11225 5373 101751 77915 23836 119013 94209 24804 76019 60410 15609 47623 25347 22276 283419 282653 766 573 573 35274 32065 3209 BAD DEBT EXPENSE 571113 571113 LOAN FUND RECAPTURE 166777 166777 FEES AND LICENSES 71748 48524 23224 6952 5227 1725 3889447 3398101 491346 0 12720182 13035897 336360 278637 12950018 16502942 18162 25052 105605 105605 573 0 143123 447867 26168418 30290395 417942 534065 541835 536545 3535 10355 7649653 9318960 5050000 7175000 13662965 17574925 X 5168386 5943188 7337067 6772282 12505453 12715470 26168418 30290395 210017 0 X 0 1 X 1 1 1 X 86222 115607 13169841 2420183 15791853 86222 115607 13169841 2420183 15791853 1137075 14654778 1461 78582 80043 15871896 1720595 0.92330 0.94810 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 1 18500 1 1616 0 0 20116 0 PART II-B, LINE 1: LINE 1F REPRESENTS PAYMENTS TO RAPOZA FOR LOBBYING ACTIVITIES. LINE 1G REPRESENTS REIMBURSMENTS TO EMPLOYEES FOR TRAVEL EXPENSES FOR MEETINGS WITH GOVERNMENT LEGISLATORS. 0 1 X 105605 105605 0 0 X PART IV, LINE 2B: THE ESCROW LIABILITY ACCOUNT CONSISTS OF $3,355 OF REAL ESTATE TAXES AND $7,000 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, AND FORM 990-T, EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN, 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 DENNIS J WEST PRESIDENT 143693 0 0 0 1602 0 9724 0 26017 0 181036 0 0 0 FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION'S BYLAWS WERE AMENDED WHICH INCREASED THE NUMBER OF BOARD MEMBERS FROM 5 TO 16, AND CHANGED THE CLASSIFICATION OF TRUSTEES AS OUTLINED BELOW IN THE ANSWER FOR PART VI, SECTION A, LINE 7A. THE REMOVAL OF TRUSTEES OR THE PRESIDENT NOW REQUIRES A VOTE OF 75% BY THE TRUSTEES AND SPECIFIC CONTRACTS, CONVEYANCES AND MORTGAGES MUST NOW BE REVIEWED BY THE BOARD OF TRUSTEES BEFORE EXECUTION. THE POSITIONS OF CHAIRPERSON AND VICE CHAIRPERSON WERE ADDED AND OFFICERS SHALL NOW FURNISH SECURITY BONDS FOR FAITHFUL PERFORMANCE OF THEIR DUTIES. THE REVISED BYLAWS ALSO PROVIDE FOR THE CREATION OF AN EXECUTIVE COMMITTEE AND A PROVISION STATING DISTRIBUTIONS WILL BE MADE IN ACCORDANCE WITH IRC SECTION 501(C)(3). 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. UP BUSINESS CAPITAL INC 1401 PRESQUE ISLE JACOBETTI STE 202 MARQUETTE MI 49855 452471096 LENDING & EQUITY INVESTING MI 501(C)(3) LINE 7 NORTHERN GREAT LAKES INITIATIVES 1 UPPER PENINSULA CERTIFIED DEVELOPMENT COMPANY 1401 PRESQUE ISLE JACOBETTI STE 202 MARQUETTE MI 49855 462796593 LENDING MI 501(C)(4) NORTHERN GREAT LAKES INITIATIVES 1 0 0 0 1 0 0 0 0 0 0 0 1 0 1 1 0 1 0 0