2024-02-27T14:31:51-06:00 2023-09-30 382157642 MANER COSTERISAN PC 2425 E GRAND RIVER SUITE 1 LANSING MI 489123291 990 2022-10-01 382476532 MICHIGAN CERTIFIED DEVELOPMENT CORP MICH 5178866612 3737 COOLIDGE RD 2ND FLOOR EAST LANSING MI 48823 MARK WILLIAMS PRESIDENT 5178866612 2024-02-22 1 MARK WILLIAMS 999009999 1 BRANDY L MIKULA CPA P00645694 5173237500 2024-02-22 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MARK WILLIAMS 3737 COOLIDGE RD 2ND FLOOR EAST LANSING MI 48823 4494357 0 X WWW.MICHIGANCDC.ORG X 1982 MI TO STIMULATE ECONOMIC DEVELOPMENT IN MICHIGAN BY HELPING BUSINESSES TO OBTAIN FINANCING. 11 8 26 0 0 0 0 0 3510270 3812939 -118739 -129505 -46068 0 3345463 3683434 0 0 0 0 2789236 2814770 0 0 0 932671 1096071 3721907 3910841 -376444 -227407 8289445 8735406 426011 768171 7863434 7967235 TO STIMULATE ECONOMIC DEVELOPMENT IN MICHIGAN BY PROMOTING AND ASSISTING IN THE GROWTH AND DEVELOPMENT OF BUSINESSES BY HELPING BUSINESSES TO OBTAIN FINANCING. 0 0 2814923 3812939 ASSISTED 82 SMALL BUSINESSES WITH OBTAINING FINANCING THROUGH THE SBA 504 PROGRAM THEREBY BENEFITING THE MICHIGAN ECONOMY BY THE CREATION AND/OR RETENTION OF 2,288 JOBS. ASSISTED 39 SMALL BUSINESSES WITH OBTAINING FINANCING THROUGH THE SBA 7(A) LOAN PROGRAM THEREBY BENEFITING THE MICHIGAN ECONOMY BY THE CREATION AND/OR RETENTION OF 593 JOBS. 536176 MONITORED REPAYMENTS FOR THE OUTSTANDING LOAN PORTFOLIO OF APPROXIMATELY 870 LOANS. 3351099 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 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 0 0 0 1 12 0 1 26 1 0 0 0 0 0 0 0 0 X 11 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X MARK WILLIAMS 5178866612 3737 COOLIDGE RD 2ND FLOOR EAST LANSING MI 48823 JOHN A JANICK DIRECTOR 2.00 X 6800 0 0 MARK MORANTE DIRECTOR 2.00 X 6960 0 0 JOSEPH CALVARUSO DIRECTOR 2.00 X 5440 0 0 TOM JOHNSON DIRECTOR 2.00 X 6780 0 0 JANET MCCLELLAND DIRECTOR 2.00 X 5260 0 0 ANTHONY REED DIRECTOR 2.00 X 6800 0 0 GREGORY NICHOLAS DIRECTOR 2.00 X 8028 0 0 CALVIN C CUPIDORE JR DIRECTOR 2.00 X 5780 0 0 DEBRA GAGLIARDI VICE CHAIR 5.00 X X 4420 0 0 JASON BARNETT CHAIR 5.00 X X 8452 0 0 JAMES FAY TREASURER/SECRETARY 5.00 X X 7300 0 0 MARK WILLIAMS PRESIDENT 40.00 X 220026 0 18358 MARNIE SPITZLEY VP- OPERATIONS 40.00 X 120842 0 14528 ERIC J KEHLER V.P. 504 LENDING 40.00 X 189633 0 24079 SCOTT VROEGINDEWEY SENIOR LOAN OFFICER 40.00 X 182031 0 26103 STEVEN PRICCO DIRECTOR OF 7A LENDING 40.00 X 149603 0 26285 JOHN JOHNSON SR. LOAN OFFICER 40.00 X 133779 0 26189 1067934 0 135542 8 0 1 0 0 503/504 SERVICE FEE 900099 2146300 2146300 PROCESSING FEES 518210 1134811 1134811 504 ESCROW FLOAT INT. 900099 521336 521336 MISCELLANEOUS 900099 8875 8875 LATE FEE INCOME 900099 1617 1617 3812939 186338 186338 495080 618223 192700 -123143 -192700 -315843 -315843 3683434 3812939 0 -129505 321768 257414 64354 2006587 1789977 216610 318854 282153 36701 167561 147454 20107 2746 2307 439 18731 15734 2997 21592 18137 3455 101483 85246 16237 133395 117388 16007 53178 27796 25382 112166 101837 10329 268911 199267 69644 130107 111586 18521 146806 129189 17617 37270 32798 4472 35090 35090 LOAN EXPENSE 19774 19774 MISCELLANEOUS 14822 13042 1780 3910841 3351099 559742 0 2367352 872822 214274 344424 600000 600000 23361 5941 1661199 336127 1432182 1325072 3649092 5225124 3184 362023 8289445 8735406 408623 387107 17388 381064 426011 768171 X 7863434 7967235 7863434 7967235 8289445 8735406 -227407 331208 0 X 0 1 X 1 0 1544240 223454 1320786 112753 110396 2357 4206 2277 1929 1325072 MAY FUNDING 8560 DEPOSITS 7076 OPERATING LEASE LIABILITY 365428 381064 X 3993050 331208 331208 3661842 21592 21592 3683434 3889249 0 3889249 21592 21592 3910841 PART X, LINE 2: IN THE PREPARATION OF TAX RETURNS, TAX POSITIONS ARE TAKEN BASED ON INTERPRETATION OF FEDERAL, STATE AND LOCAL INCOME TAX LAWS. MANAGEMENT PERIODICALLY REVIEWS AND EVALUATES THE STATUS OF UNCERTAIN TAX POSITIONS AND MAKES ESTIMATES OF AMOUNTS, INCLUDING INTEREST AND PENALTIES, ULTIMATELY DUE OR OWED. NO AMOUNTS HAVE BEEN IDENTIFIED, OR RECORDED, AS UNCERTAIN TAX POSITIONS. FEDERAL, STATE AND LOCAL TAX RETURNS GENERALLY REMAIN OPEN FOR EXAMINATION BY THE VARIOUS TAXING AUTHORITIES FOR A PERIOD OF THREE TO FOUR YEARS. X X X X X 0 0 0 0 0 0 0 0 0 MARK WILLIAMS PRESIDENT 220026 0 0 0 0 0 6773 0 11585 0 238384 0 0 0 ERIC J KEHLER V.P. 504 LENDING 189633 0 0 0 0 0 5647 0 18432 0 213712 0 0 0 SCOTT VROEGINDEWEY SENIOR LOAN OFFICER 182031 0 0 0 0 0 5389 0 20714 0 208134 0 0 0 STEVEN PRICCO DIRECTOR OF 7A LENDING 149603 0 0 0 0 0 4596 0 21689 0 175888 0 0 0 JOHN JOHNSON SR. LOAN OFFICER 133779 0 0 0 0 0 4123 0 22066 0 159968 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS RECEIVED BY THE ORGANIZATION'S PRESIDENT WHO REVIEWS THE RETURN FOR ACCURACY. UPON THE PRESIDENT'S APPROVAL, THE 990 IS MADE AVAILABLE TO THE FINANCE COMMITTEE AND THE BOARD OF DIRECTORS. AFTER ANY CONCERNS PRESENTED BY THE FINANCE COMMITTEE AND BOARD ARE ADDRESSED, THE PRESIDENT SIGNS AND FILES THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS ARE REQUIRED TO ANNUALLY SIGN A WRITTEN CONFLICT OF INTEREST STATEMENT DETAILING ANY POTENTIAL CONFLICTS. ANY NOTED CONFLICTS ARE REPORTED TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION PARTICIPATES IN AND RECEIVES RESULTS OF A SURVEY CONDUCTED EVERY 2 YEARS BY AN OUTSIDE CONSULTANT ENGAGED BY THE NATIONAL ASSOCIATION OF DEVELOPMENT COMPANIES (NADCO). THE SURVEY COMPILES INFORMATION FOR ALL CDCS NATIONWIDE THEN BREAKS THE INFORMATION DOWN BY REGION, CDC MANAGED PORTFOLIO SIZE AND CDC ANNUAL REVENUE WITH INFORMATION FOR MANY POSITIONS WITHIN CDCS INCLUDING PRESIDENT/CEO. THE BOARD ALSO UTILIZES THE MICHIGAN BANKER'S ASSOCIATION (MBA) ANNUAL SALARY SURVEY FOR MANY SIMILAR POSITIONS. BOTH SURVEYS ARE REVIEWED AND COMPILED BY THE ORGANIZATION'S HR CONSULTANT WHO THEN STRATIFIES THE INFORMATION INTO WAGE RANGES (60% NADCO, REGION 5 (MIDWEST) AND 40% FROM MBA DATA) FOR ALL POSITIONS, INCLUDING THE PRESIDENT/CEO TO COMPARE TOTAL COMPENSATION BY POSITION AND WHERE IT FALLS IN THE SALARY RANGE. THE ANNUAL REVIEW PROCESS IS OVERSEEN BY THE CHAIRPERSON OF THE BOARD WITH INPUT FROM THE HUMAN RESOURCES COMMITTEE CHAIR AND THE VICE-CHAIR. THE FULL BOARD RETAINS FINAL APPROVAL AUTHORITY. THE ABOVE PROCESS IS OUTLINED IN OUR EXECUTIVE COMPENSATION POLICY. FORM 990, PART VI, SECTION C, LINE 19 ALL INFORMATION IS AVAILABLE UPON REQUEST.