NORTHERN MICHIGAN GEOLOGICAL REPOS… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2008

Legal Domicile

Principal Officer

THOMAS WAGGONER

Phone

9064754761

Tax Period

2018-01-01 to 2018-12-31

NORTHERN MICHIGAN GEOLOGICAL REPOSITORY ASSOCIATION, founded in 2008, is a small nonprofit that reported $225K in total revenue in fiscal year 2018. Expenses of $252K exceeded revenue, resulting in a 12% operating deficit.

Mission

TO LOCATE AND PURCHASE SUITABLE REAL ESTATE FOR A DIAMOND DRILL CORE AND DIAMOND LIBRARY

Program Service Accomplishments

Program 1

Expenses: $251,577 Revenue: $-1,660

IN OCTOBER OF 2018 A GRANT WAS RECEIVED TO ALLOW THE ORGANIZATION TO PURCHASE THE BUILDING THAT WILL BE USED TO HOUSE A DIAMOND DRILL CORE AND DIAMOND DRILL LIBRARY OPEN TO THE PUBLIC, FACILITATION ECONOMIC DEVELOPMENT. THIS BUILDING WAS THEN DONATED TO THE STATE OF MICHIGAN AT THE END OF 2018 TO COMPLETE THE MISSION OF THE ORGANIZATION. THIS WAS THE SOLE PURPOSE OF THE ORGANIZATION

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2018)

Revenue Breakdown

Contributions & Grants $226,700

Program Service Revenue $0

Investment Income $5

Other Revenue $-1,660

TOTAL REVENUE $225,045

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $251,577

Other Expenses $251,577

TOTAL EXPENSES $251,577

Year-over-Year Comparison

	2018	2017	Change
Revenue	$225,045	N/A	N/A
Expenses	$251,577	N/A	N/A
Net Income	$-26,532	N/A	N/A

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS WAGGONER	DIRECTOR SECRETARY AND TREASURER	1.00	Director	$0	$0	$0
DAVID HOLLI	DIRECTOR	1.00	Director	$0	$0	$0
ALLEN JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
MILT GERE	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT MAHIN	VICE PRESIDENT	1.00	Director	$0	$0	$0
MICHAEL CARR	PRESIDENT	1.00	Director	$0	$0	$0
ROBERT SCHELLENBERG	DIRECTOR	1.00	Director	$0	$0	$0
RICK KAUPPILA	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2018	$225,045	$251,577	$30,116	$-26,532

NORTHERN MICHIGAN GEOLOGICAL REPOSITORY ASSOCIATION