Michigan Creditors Bar Association
- Assets
- $40.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Lansing, MI
- Founding
- 12/2005
- Data as of
- 12/2021
- EIN
- 20-1958407
Organization Overview
Michigan Creditors Bar Association is located in Lansing, MI. The organization was established in 2005. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan Creditors Bar Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Michigan Creditors Bar Association generated $35.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.2%) each year. All expenses for the organization totaled $45.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
THE MICHIGAN CREDITORS BAR ASSOCIATION PROVIDES ITS 43 FULL AND 11 ASSOCIATE MEMBER FIRMS WITH EDUCATIONAL SEMINARS AND NETWORKING OPPORTUNITIES. THIS YEAR THE ASSOCIATION HELD A SPRING MEMBER DINNER FOR 34 AND A FALL MEMBER EVENT FOR 49 AS WELL AS AN EDUCATIONAL SEMINAR FOR 70.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Jammal Director | 5 | $0 | |
Lori Frank President | 5 | $0 | |
Kathleen Klaus Director | 5 | $0 | |
Robert Goodman Director | 5 | $0 | |
Curtis Robertson Treasurersecretary | 5 | $0 | |
Stuart Best Director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $500 |
| Total Program Service Revenue | $0 |
| Membership dues | $22,650 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $11,200 |
| Other Revenue | $1,000 |
| Total Revenue | $35,350 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $16,963 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $28,496 |
| Total expenses | $45,459 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $40,114 |
| Other assets | $0 |
| Total assets | $40,114 |
| Total liabilities | $18,175 |
| Net assets or fund balances | $21,939 |
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