NORTHERN SHORES COMMUNITY DEVELOPM… - 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

2007

Legal Domicile

Principal Officer

SHANNA SHANANAQUET

Phone

2313476753

Tax Period

2023-01-01 to 2023-12-31

NORTHERN SHORES COMMUNITY DEVELOPMENT, founded in 2007, is a small nonprofit in the Community Improvement sector that reported $299K in total revenue in fiscal year 2023. Revenue surged 138% from the prior year, signaling strong growth momentum. Expenses of $452K exceeded revenue, resulting in a 51% operating deficit.

Mission

TO ASSIST PRIMARILY AMERICAN INDIAN COMMUNITIES AND OTHER UNDERSERVED MICHIGAN RESIDENTS WITH TRAINING, BUSINESS INCUBATION AND ACCESS TO CAPITAL.

Program Service Accomplishments

Program 1

Expenses: $310,449 Revenue: $29,124

PROVIDED LOANS TO TARGET POPULATIONS IN NORTHERN MICHIGAN. THERE WERE 82 LOANS OUTSTANDING AS OF DECEMBER 31, 2023.

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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 (2023)

Revenue Breakdown

Contributions & Grants $270,137

Program Service Revenue $27,712

Investment Income $78

Other Revenue $1,412

TOTAL REVENUE $299,339

Expense Breakdown

Grants Paid $22,000

Salaries & Benefits $149,549

Fundraising Expenses $0

Program Expenses $310,449

Other Expenses $280,736

TOTAL EXPENSES $452,285

Year-over-Year Comparison

	2023	2022	Change
Revenue	$299,339	$125,673	+1.4%
Expenses	$452,285	$310,265	+0.5%
Net Income	$-152,946	$-184,592	-0.2%

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

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

$56,982

Total Directors

$3,178

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHANNA SHANANAQUET	EXECUTIVE DIRECTOR (STARTED 8/23)	40.00	Officer	$29,612	$0	$29,612
CINDY HENDRICKSON	EXECUTIVE DIRECTOR (ENDED 8/23)	40.00	Officer	$27,370	$0	$27,370
SONYA ZOTIGH	TRUSTEE	1.00	Director	$3,178	$0	$3,178
ROBERT ELLERMAN	TRUSTEE	1.00	Director	$0	$0	$0
HARLEY LUPLOW	TRUSTEE (ENDED 8/23)	1.00	Director	$0	$0	$0
PATRICK SCHMIDT	TREASURER	1.00	Officer Director	$0	$0	$0
STEVEN SOCHAY	SECERTARY	1.00	Officer Director	$0	$0	$0
PAT DYER-DECKROW	VICE-CHAIR	1.00	Officer Director	$0	$0	$0
LAURA BLUMBERG	CHAIR	1.00	Officer 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
2024	No data	No data	No data	No data
2023	$299,339	$452,285	$1,313,725	$-152,946
2022	$125,673	$310,265	$1,439,114	$-184,592
2021	$743,057	$198,473	$1,553,913	$544,584
2020	$449,308	$313,795	$993,471	$135,513
2019	$319,038	$213,730	$859,436	$105,308
2018	$19,403	$221,310	$754,308	$-201,907

NORTHERN SHORES COMMUNITY DEVELOPMENT