OAKLAND COUNTY BUSINESS FINANCE CORPORAT

EIN: 382391435

WATERFORD, MI

Total Revenue
$532,937
Total Expenses
$531,532
Total Assets
$1,209,231
Net Assets
$1,186,104
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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
1981
Legal Domicile
MI
Principal Officer
CATHERINE RASEGAN
Phone
2488585101
Tax Period
2023-10-01 to 2024-09-30

OAKLAND COUNTY BUSINESS FINANCE CORPORAT, founded in 1981, is a small nonprofit that reported $533K in total revenue in fiscal year 2023. Revenue decreased 16% compared to the prior year. Net assets of $1.2M represent 27 months of operating reserves.

Mission

THE COMPANY IS A U.S. SMALL BUSINESS ADMINISTRATION (SBA) APPROVED CERTIFIED DEVELOPMENT COMPANY AND AN AUTHORIZED LENDER UNDER THE SBA SECTION 504 GUARANTEED LOAN PROGRAM THAT PROVIDES PARTIAL FINANCING OF FIXED ASSETS TO SMALL 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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $512,708
Investment Income $20,229
Other Revenue $0
TOTAL REVENUE $532,937

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $486,309
Other Expenses $531,532
TOTAL EXPENSES $531,532

Year-over-Year Comparison

2023 2022 Change
Revenue $532,937 $632,276 -0.2%
Expenses $531,532 $535,120 0.0%
Net Income $1,405 $97,156 -1.0%
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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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
5
$0
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID P ELLIS CHAIRPERSON 0.20
Officer Director
$0 $0 $0
ANGIE WILLIAMS PRESIDENT 0.20
Officer Director
$0 $0 $0
DAVID H SHINDEL VICE-PRESIDENT 0.20
Officer Director
$0 $0 $0
CATHERINE RASEGAN SECRETARY (NON-VOTING) 0.20
Officer Director
$0 $0 $0
ROBERT WITTENBERG TREASURER (NON-VOTING) 0.10
Officer Director
$0 $0 $0
STEVE BALL TRUSTEE 0.20
Director
$0 $0 $0
DAVID WYNN TRUSTEE 0.10
Director
$0 $0 $0
KATHERINE BROWN TRUSTEE 0.10
Director
$0 $0 $0
BARRY LEVINE TRUSTEE 0.20
Director
$0 $0 $0
KRIS PAWLOWSKI TRUSTEE 0.20
Director
$0 $0 $0
WAYNE CHAN TRUSTEE 0.10
Director
$0 $0 $0
NICHOLE SMITH TRUSTEE 0.10
Director
$0 $0 $0
ELIZABETH MASSERANG TRUSTEE 0.10
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 $532,937 $531,532 $1,209,231 $1,405
2023 $632,276 $535,120 $1,194,699 $97,156
2022 $565,445 $497,342 $1,101,011 $68,103
2021 $672,142 $537,233 $1,034,223 $134,909
2020 $542,999 $571,925 $909,199 $-28,926
2019 $577,395 $540,594 $932,646 $36,801
2018 $678,602 $660,572 $894,406 $18,030
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