The Right Place Inc
- Assets
- $8.2m
- Revenue
- $9.2m
- Investments
- $0.0
- Employees
- 48
- Location
- Grand Rapids, MI
- Founding
- 06/1997
- Data as of
- 12/2023
- EIN
- 38-3262801
Organization Overview
The Right Place Inc is located in Grand Rapids, MI. The organization was established in 1997. 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. As of 12/2023, Right Place Inc employed 48 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Right Place Inc 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 12/2023, Right Place Inc generated $9.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $10.2m during the year ending 12/2023. While expenses have increased by 8.5% 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.
Since 2020, Right Place Inc has awarded 1,270 individual grants totaling $15,540,135. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE RIGHT PLACE IS THE ECONOMIC DEVELOPMENT ORGANIZATION THAT DRIVES CURRENT AND LONG-TERM ECONOMIC PROSPERITY IN WEST MICHIGAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PEOPLE / TALENT INITIATIVES - ASPIRE TO BE A REGION WHERE EVERYONE CAN ACHIEVE THEIR HIGHEST POTENTIAL. THE RIGHT PLACE TEAM WORKS TOWARD THIS ASPIRATION BY STRATEGIZING WITH REGIONAL TALENT PARTNERS, LEVERAGING OUR BUSINESS NETWORK TO AMPLIFY BEST PRACTICES, AND BENCHMARK AREA TALENT DEVELOPMENT, RETENTION, AND ATTRACTION EFFORTS. PROVIDE OPPORTUNITIES FOR VARIOUS STAKEHOLDERS - COMPANIES ACROSS INDUSTRIES, COMMUNITY - BASED ORGANIZATIONS & PROGRAMS, K-12, POSTSECONDARY INSTITUTIONS, AND OTHERS TO COLLARBORATE TO ATTRACT, RECRUIT, AND RETAIN TALENT IN AN INCLUSIVE ENVIRONMENT WHERE ALL BELONG AND FLOURISH IN WEST MICHIGAN.
PROSPERITY / BUSINESS DEVELOPMENT - PERFORMS ECONOMIC DEVELOPMENT WORK FOR A REGIONAL COLLABORATIVE OF EIGHT COUNTIES IN THE GREATER GRAND RAPIDS REGION. THE TEAM DRIVES STRATEGIC, LONG TERM ECONOMIC PROSPERITY FOR THE REGION THROUGH BUSINESS RETENTION, EXPANSION AND ATTRACTION EFFORTS.
PROSPERITY / MICHIGAN MANUFACTURING TECHNOLOGY CENTER - WEST: THROUGH CONSULTING, USER GROUPS, COUNCILS AND TRAINING, THE CENTER - WEST WORKS TO ASSIST MANUFACTURERS TO IMPROVE THE WAY THEY WORK, IMPROVE, AND GROW THROUGH ASSISTING WITH THE DEVELOPMENT OF LEADERSHIP, PROCESSES, SYSTEMS, AND THE USE OF TECHNOLOGY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Thelen President | OfficerTrustee | 36.5 | $495,985 |
Tina Freese Decker Chair | OfficerTrustee | 1 | $0 |
Bill Pink Vice Chair | OfficerTrustee | 1 | $0 |
Steve Downing Treasurer | OfficerTrustee | 1 | $0 |
Stephen M Abbott Director | Trustee | 1 | $0 |
Sara Armbruster Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Grand Rapids Community College Tassell M Contracted Client Services | 12/30/23 | $1,162,706 |
Vibrant Futures Project Coordination/planning | 12/30/23 | $159,020 |
Montcalm Community College Contracted Client Services | 12/30/23 | $149,653 |
Terranox Llc Contracted Techonology Improvements | 12/30/23 | $118,750 |
Muskegon Community College Contracted Client Services | 12/30/23 | $146,658 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,331,675 |
| Government grants | $2,153,106 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,086,956 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,571,737 |
| Total Program Service Revenue | $4,475,354 |
| Investment income | $176,482 |
| 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 | $9,225,403 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,503,446 |
| Grants and other assistance to domestic individuals. | $6,050 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $718,864 |
| Compensation of current officers, directors, key employees. | $412,598 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,278,376 |
| Pension plan accruals and contributions | $137,817 |
| Other employee benefits | $411,348 |
| Payroll taxes | $279,367 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $80,886 |
| Fees for services: Accounting | $38,642 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,329,399 |
| Advertising and promotion | $78,236 |
| Office expenses | $396,048 |
| Information technology | $29,655 |
| Royalties | $0 |
| Occupancy | $153,610 |
| Travel | $234,799 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $232,537 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $135,557 |
| Insurance | $29,983 |
| All other expenses | $0 |
| Total functional expenses | $10,225,956 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $119,237 |
| Savings and temporary cash investments | $4,281,185 |
| Pledges and grants receivable | $2,630,083 |
| Accounts receivable, net | $711,887 |
| 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 | $84,417 |
| Net Land, buildings, and equipment | $135,083 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $209,330 |
| Total assets | $8,171,222 |
| Accounts payable and accrued expenses | $652,310 |
| Grants payable | $0 |
| Deferred revenue | $1,067,700 |
| 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 | $315,591 |
| Total liabilities | $2,035,601 |
| Net assets without donor restrictions | $4,120,945 |
| Net assets with donor restrictions | $2,014,676 |
| 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 | $8,171,222 |
Grants Awarded
Over the last fiscal year, The Right Place Inc has awarded $1,485,534 in support to 39 organizations.
| Grant Recipient | Amount |
|---|---|
PATTERSON PRECISION MANUFACTURING INC PURPOSE: INDUSTRY 4.0 IMPLEMTATION | $9,404 |
SCHERDEL SALES & TECHNOLOGY PURPOSE: INDUSTRY 4.0 IMPLEMTATION | $12,500 |
IMPERIAL METAL PRODUCTS PURPOSE: INDUSTRY 4.0 IMPLEMTATION | $25,000 |
RSI OF WEST MICHIGAN PURPOSE: INDUSTRY 4.0 IMPLEMTATION | $25,000 |
BURTON PRECISION CO PURPOSE: INDUSTRY 4.0 IMPLEMTATION | $24,098 |
PROGRESS MACHINING PURPOSE: INDUSTRY 4.0 IMPLEMTATION | $7,082 |