2019-11-13T14:29:02-06:00 2018-12-31 382806590 MAKELA TOUTANT HILL NARDI & KATONA PC 201 W BLUFF STREET MARQUETTE MI 49855 990 2018-01-01 473130767 NORTHERN GREAT LAKES INITIATIVES NORT 9062285571 1401 PRESQUE ISLE JACOBETTI NO 202 MARQUETTE MI 49855 CHARLES H HURST VICE PRESIDENT LENDING 9062285571 2019-11-13 1 ROBIN RAUVALA CPA P00070626 9062283600 2019-11-12 71.13.97.2 2019-11-13 08:27:24 ES P ED16A8CD629A649499B569876F265A38B76BDBDB ED16A8CD629A649499B569876F265A38B76BDBDB 2018 2020-04-17 16:48:07Z DENNIS J WEST 1401 PRESQUE ISLE JACOBETTI NO 202 MARQUETTE MI 49855 13265049 0 X WWW.NORTHERNINITIATIVES.ORG X 2014 MI TO ENCOURAGE, PROMOTE, AND FOSTER COMMUNITY REVITALIZATION PROJECTS AND PROGRAMS. 12 12 0 12 0 0 115607 13169841 23993 93747 0 1461 0 0 139600 13265049 0 0 0 0 0 0 0 0 0 210209 672816 210209 672816 -70609 12592233 1019240 26168418 1106020 13662965 -86780 12505453 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 499998 93747 FINANCE AND BUSINESS ADVANCEMENT SERVICES: PROVIDED AFFORDABLE ACCESS TO CAPITAL TO UNDERSERVED MARKETS AND CONSULTING, TRAINING AND TECHNICAL ASSISTANCE TO BUSINESSES. 499998 1 1 0 0 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 1 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MI X TERRI GOVERN 9062285571 1401 PRESQUE ISLE JACOBETTI COMPLEX MARQUETTE MI 49855 CHARLES VAN LOAN TRUSTEE, ASSISTANT TREASURER 0.50 X X 0 0 0 MARY HOUGHTON TRUSTEE, 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 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 DENNIS J WEST PRESIDENT 0.50 45.90 X 0 140794 33525 RON GRZYWINSKI ASSISTANT SECRETARY 0.50 X 0 0 0 ALFRED JOYAL III CHAIRMAN OF THE BOARD 0.50 X 0 0 0 KATHY MASON TREASURER 0.50 X 0 0 0 WES MAURER JR ASSISTANT SECRETARY 0.50 X 0 0 0 CHRISTINE RECTOR ASSISTANT SECRETARY 0.50 40.90 X 0 71842 29695 THOMAS VEAR VICE CHAIRMAN 0.50 X 0 0 0 0 212636 63220 0 0 1 0 NORTHERN ECONOMIC INITIATIVES CORP 1401 PRESQUE ISLE 202 MARQUETTE MI 49855 SPACE AND STAFFING 553691 1 130143 13039698 1218524 13169841 LOAN INTEREST 525990 59839 59839 LOAN FEES 525990 33908 33908 93747 1461 1461 13265049 93747 0 1461 X 62404 51136 11268 4188 3128 1060 4080 3047 1033 279321 231888 47433 19708 13067 6641 18919 11973 6946 22756 15995 6761 22444 6593 15851 39778 39778 BAD DEBT EXPENSE 78923 78923 FEES AND LICENSES 63763 23572 40191 56532 20898 35634 672816 499998 172818 0 614295 12720182 336360 47771 355749 12950018 18162 145646 145073 0 573 1425 143123 1019240 26168418 88499 417942 17521 541835 3535 1000000 7649653 5050000 1106020 13662965 X 5168386 7337067 -86780 -86780 12505453 1019240 26168418 12592233 0 X 0 1 X 0 0 X 86222 115607 13169841 13371670 86222 115607 13169841 13371670 692537 12679133 1461 1461 13373131 132533 0.94810 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 145646 145073 573 573 X PART IV, LINE 2B: THE ORGANIZATION COLLECTED AND HELD REAL ESTATE TAXES IN ESCROW FOR LOAN CUSTOMERS. 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. 0 0 0 0 0 0 0 0 0 DENNIS J WEST PRESIDENT 0 139207 0 0 0 1587 0 9419 0 24744 0 174957 0 0 X NET ASSETS 1 1218524 CARRYING VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION HAD A SPACE, STAFFING AND CONSULTING SERVICES AGREEMENT WITH NORTHERN ECONOMIC INITIATIVES CORPORATION (NEIC), WHICH WAS A RELATED ENTITY AS DISCLOSED ON SCHEDULE R. EFFECTIVE DECEMBER 26, 2018, THE ORGANIZATION MERGERED WITH NEIC. THE ASSETS AND LIABILITIES OF NEIC WERE TRANSFERED TO THIS ORGANIZATION, NORTHERN GREAT LAKES INITIATIVES, WHICH WILL OPERATE AS THE SURVIVING ENTITY. 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 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 LENDING AND UNDERWRITING SERVICES: PROGRAM SERVICE EXPENSES 223,991. MANAGEMENT AND GENERAL EXPENSES 46,808. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 270,799. MARKETING SERVICES: PROGRAM SERVICE EXPENSES 1,415. MANAGEMENT AND GENERAL EXPENSES 625. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,040. LOAN SYSTEM CONSULTING: PROGRAM SERVICE EXPENSES 4,356. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,356. PORTAL MANAGEMENT AND COACHING: PROGRAM SERVICE EXPENSES 2,126. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,126. NORTHERN ECONOMIC INITIATIVES CORPORATION 1401 PRESQUE ISLE JACOBETTI STE 202 MARQUETTE MI 49855 383024786 LENDING, ECONOMIC DEVELOPMENT MI 501(C)(3) LINE 7 0 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 0 1 0 0 0 0 0 1 0 1 1 0 1 0 0 1