LOCAL FIRST OF WEST MICHIGAN

EIN: 372042023 Community Improvement

GRAND RAPIDS, MI

Total Revenue
$395,072
Total Expenses
$407,010
Total Assets
$43,785
Net Assets
$-15,817
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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
2004
Legal Domicile
MI
Principal Officer
CARLOS MARTINEZ
Phone
6168083788
Tax Period
2025-01-01 to 2025-12-31

LOCAL FIRST OF WEST MICHIGAN, founded in 2004, is a small nonprofit in the Community Improvement sector that reported $395K in total revenue in fiscal year 2025. Revenue fell 33% from the prior year — a significant decline worth monitoring.

Mission

WE LEAD THE DEVELOPMENT OF AN ECONOMY GROUNDED IN LOCAL OWNERSHIP THAT MEETS THE BASIC NEEDS OF PEOPLE, BUILDS LOCAL WEALTH AND SOCIAL CAPITAL, FUNCTIONS IN HARMONY WITH OUR ECOSYSTEM, AND ENCOURAGES JOYFUL COMMUNITY.

Program Service Accomplishments

Program 1

CONDUCT MONTHLY MEETINGS FOR BUSINESS MEMBERS TO LEARN FROM EACH OTHER AND SHARE BEST PRACTICES.

Program 2

PROVIDE TOOLS AND RESOURCES TO PROMOTE THE CONCEPT OF SUPPORTING LOCALLY OWNED BUSINESSES.

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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%)

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Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $23,120
Program Service Revenue $371,952
Investment Income $0
Other Revenue $0
TOTAL REVENUE $395,072

Expense Breakdown

Grants Paid $0
Salaries & Benefits $381,556
Fundraising Expenses $0
Other Expenses $25,454
TOTAL EXPENSES $407,010

Year-over-Year Comparison

2025 2024 Change
Revenue $395,072 $593,683 -0.3%
Expenses $407,010 $537,508 -0.2%
Net Income $-11,938 $56,175 -1.2%
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

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Governance

Voting Members
7
Independent Members
N/A
Employees
6
Volunteers
20

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
5
$112,411
Total Directors
7
$112,411
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TAMMY KARAS BOARD CHAIR 1.00
Officer Director
$0 $0 $0
CARLOS MARTINEZ EXECUTIVE DIRECTOR 40.00
Officer Director
$98,247 $14,164 $112,411
PABLO GARCIA SECRETARY 1.00
Officer Director
$0 $0 $0
KAYLEE MORENO BURKE PRESIDENT 1.00
Officer Director
$0 $0 $0
CAITLYN MEYERS TREASURER 1.00
Officer Director
$0 $0 $0
DANIEL VANDERMOLEN BOARD MEMBER 1.00
Director
$0 $0 $0
BENJAMIN COCHRAN BOARD MEMBER 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
2025 $395,072 $407,010 $43,785 $-11,938
2024 $593,683 $537,508 $60,751 $56,175
2023 $645,889 $592,322 $23,980 $53,567
2022 $384,531 $530,552 $53,078 $-146,021
2021 $505,347 $402,905 $167,932 $102,442
2020 $419,071 $356,544 $131,859 $62,527
2019 $376,763 $416,080 $77,436 $-39,317
2018 $306,349 $456,464 $43,774 $-150,115
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