Michigan Boating Industries Assoc
- Assets
- $8.2m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 5
- Location
- Commerce Township, MI
- Founding
- 03/1984
- Data as of
- 04/2024
- EIN
- 38-1707809
Organization Overview
Michigan Boating Industries Assoc is located in Commerce Township, MI. The organization was established in 1984. According to its NTEE Classification (N67) the organization is classified as: Swimming & Other Water Recreation, under the broad grouping of Recreation & Sports and related organizations. As of 04/2024, Michigan Boating Industries Assoc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan Boating Industries Assoc 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 04/2024, Michigan Boating Industries Assoc generated $3.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $3.0m during the year ending 04/2024. While expenses have increased by 5.9% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE AND PROMOTE THE ADVANCEMENT OF THE BOATING INDUSTRY IN THE STATE OF MICHIGAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MICHIGAN BOATING INDUSTRIES ASSOCIATION PRODUCES THREE BOAT SHOWS: THE DETROIT BOAT SHOW WITH 105 EXHIBITING FIRMS IN ATTENDANCE; THE NOVI BOAT SHOW WITH 94 EXHIBITING FIRMS IN ATTENDANCE; THE METRO BOAT SHOW WITH 102 EXHIBITING FIRMS IN ATTENDANCE. THE BOAT SHOWS ARE PRODUCED AS A SERVICE TO MBIA MEMBERS AND AS A BUYING OPPORTUNITY FOR CONSUMERS. THEY ALSO SERVE TO PROMOTE THE RECREATIONAL BOATING INDUSTRY IN THE METRO DETROIT AND SURROUNDING AREAS BRINGING AWARENESS TO BENEFITS OF BOATING AS A RECREATIONAL PASTIME AND THE AMPLE OPPORTUNITY TO ENJOY MICHIGAN'S 11,000 INLAND LAKES, GREAT LAKES AND RIVERS AND STREAMS.
THE ASSOCIATION UNDERTAKES A NUMBER OF MEMBERSHIP PROGRAMS WHICH INCLUDES EDUCATIONAL PROGRAMS AND SEMINARS, NEWSLETTER COMMUNICATIONS, INFORMATION DISTRIBUTION, AN ANNUAL PRODUCT GUIDE, BUSINESS ASSISTANCE, AND COST EFFECTIVE PROGRAMS.
THE ASSOCIATION UNDERTAKES GOVERNMENT RELATIONS AND LEGISLATIVE PROGRAMS TO DEVELOP FAVORABLE LEGISLATION TO BENEFIT THE RECREATIONAL BOATING INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Monique Nicki Polan Executive Director | Officer | 40 | $166,329 |
Bethany Sly Director Of Exhibitor Sales | 40 | $101,569 | |
Chris Anderson Director | Trustee | 2 | $0 |
Torre Miller Director | Trustee | 2 | $0 |
Warren Wolf Director | Trustee | 2 | $0 |
Amy Krueger Malow Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,600 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,600 |
| Total Program Service Revenue | $2,941,156 |
| Investment income | $198,153 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,167,884 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $197,772 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $343,962 |
| Pension plan accruals and contributions | $14,259 |
| Other employee benefits | $31,999 |
| Payroll taxes | $40,407 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,240 |
| Fees for services: Accounting | $10,500 |
| Fees for services: Lobbying | $54,439 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $30,300 |
| Fees for services: Other | $105,830 |
| Advertising and promotion | $730,006 |
| Office expenses | $279,253 |
| Information technology | $6,943 |
| Royalties | $0 |
| Occupancy | $470,089 |
| Travel | $28,411 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,965 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $39,979 |
| Insurance | $17,392 |
| All other expenses | $8,658 |
| Total functional expenses | $2,950,003 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,370,981 |
| Savings and temporary cash investments | $6,204,158 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $657,491 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,232,630 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $8,232,630 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $8,232,630 |