INDUSTRIAL DEVELOPMENT CORPORATION OF MANISTEE COUNTY

EIN: 381645151

MANISTEE, MI

Total Revenue
$43,400
Total Expenses
$50,000
Total Assets
$1,227,490
Net Assets
$1,227,490
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1958
Principal Officer
DOUG PARKES
Phone
2317232575
Tax Period
2024-05-01 to 2025-04-30

INDUSTRIAL DEVELOPMENT CORPORATION OF MANISTEE COUNTY, founded in 1958, is a micro nonprofit that reported $43K in total revenue in fiscal year 2024. Revenue fell 24% from the prior year — a significant decline worth monitoring. Expenses of $50K exceeded revenue, resulting in a 15% operating deficit.

Mission

TO CONDUCT AN AGGRESSIVE PROGRAM FOR THE DEVELOPMENT AND ACQUISTION OF NEW INDUSTRIES, THE ENCOURAGEMENT AND EXPANSION OF EXISTING INDUSTRIES AND THEIR RELATED ECONOMIC DEVELOPMENT OF AND IN THE CITY OF MANISTEE AND IN THE COUNTY OF MICHIGAN, IN THE STATE OF MICHIGAN:

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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 (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $43,400
Other Revenue $0
TOTAL REVENUE $43,400

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $50,000
Other Expenses $50,000
TOTAL EXPENSES $50,000

Year-over-Year Comparison

2024 2023 Change
Revenue $43,400 $57,253 -0.2%
Expenses $50,000 $37,446 +0.3%
Net Income $-6,600 $19,807 -1.3%
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
11
Independent Members
11
Employees
N/A
Volunteers
N/A

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
3
$0
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEVE BROWER SECRETARY/TR N/A
Officer
$0 $0 $0
DAVE ADAMS DIRECTOR N/A
Director
$0 $0 $0
DARLA JONES DIRECTOR N/A
Director
$0 $0 $0
THOMAS STEGE DIRECTOR N/A
Director
$0 $0 $0
SCOTT WARD DIRECTOR N/A
Director
$0 $0 $0
MIKE ENNIS PRESIDENT N/A
Officer
$0 $0 $0
DOUG PARKES VICE PRESIDE N/A
Officer
$0 $0 $0
BRIAN MCCARTHY DIRECTOR N/A
Director
$0 $0 $0
BOB EVANS DIRECTOR N/A
Director
$0 $0 $0
CHUCK SMITH DIRECTOR N/A
Director
$0 $0 $0
MARK SANDSTEDT DIRECTOR N/A
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 $43,400 $50,000 $1,227,490 $-6,600
2024 $57,253 $37,446 $1,234,090 $19,807
2023 $39,671 $32,336 $1,214,283 $7,335
2022 $59,781 $71,639 $1,206,948 $-11,858
2021 $149,779 $125,681 $1,218,806 $24,098
2020 $91,752 $228,978 $1,195,023 $-137,226
2019 $48,433 $48,190 $1,332,249 $243
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