Michigan Government Finance Officers Association
- Assets
- $289.5k
- Revenue
- $201.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Traverse City, MI
- Founding
- 09/1998
- Data as of
- 06/2022
- EIN
- 38-6351045
Organization Overview
Michigan Government Finance Officers Association is located in Traverse City, MI. The organization was established in 1998. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan Government Finance Officers Association is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Michigan Government Finance Officers Association generated $201.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $221.1k during the year ending 06/2022. While expenses have increased by 1.4% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO UNITE MICHIGAN FINANCE PROFESSIONALS FOR THE PURPOSE OF PROVIDING EFFECTIVE AND PROFESSIONAL FINANCIAL MANAGEMENT OF PUBLIC ENTITY RESOURCES AND TO PROMOTE AND SUPPORT THE PROFESSIONAL DEVELOPMENT OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FALL TRAINING INSTITUTE WHICH SERVED OVER 210 MEMBERS WITH ONE DAY OF TRAINING. TOPICS INCLUDED GFOA WASHINGTON UPDATE, INFRASTRUCTURE AND JOBS ACT, ECONOMIC UPDATE, BOND RATINGS PROCESS GASB UPDATE, ETC.
SPRING SEMINAR WHICH SERVED OVER 185 MEMBERS WITH A ONE-DAY TRAINING SESSION WITH THE PRIMARY FOCUS ON ECONOMIC AND MARKET UPDATE, ARPA OVERVIEW, FINAL RULE, BUDGETING AND GASB UPDATES.
PROFESSIONAL DEVELOPMENT COURSES CONSISTING OF SEVERAL TRAINING OPPORTUNITIES FOR MEMBERS IN FULL AND 1/2 DAY SESSIONS AND WEBINARS. TOPICS INCLUDED BACK TO BASICS SERIES YEAR-END FINANCIAL STATEMENTS CLOSING ADVANCED ACCOUNTING FINANCIAL REPORTING ADVANCED FINANCIAL MANAGEMENT-PUBLIC BUDGETING FORECASTING.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adam Bonarek Treasurer | Officer | 5 | $0 |
Jody Weissler Defoe Vice Pres/secretary | Officer | 5 | $0 |
Kim Garland President | Officer | 5 | $0 |
Heidi Scheppe Past President | Officer | 5 | $0 |
Susan Dryden-Hogan Director | Trustee | 2 | $0 |
Eric Mcglothlin Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $89,265 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $89,265 |
| Total Program Service Revenue | $109,742 |
| Investment income | $41 |
| 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 | $201,860 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $52,988 |
| Fees for services: Legal | $2,100 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,233 |
| Office expenses | $0 |
| Information technology | $9,434 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,164 |
| All other expenses | $110 |
| Total functional expenses | $221,082 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $131,973 |
| Savings and temporary cash investments | $150,941 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,125 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,402 |
| Prepaid expenses and deferred charges | $2,100 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $289,541 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $6,597 |
| 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 | $6,597 |
| Net assets without donor restrictions | $274,080 |
| Net assets with donor restrictions | $8,864 |
| 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 | $289,541 |
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