MICHIGAN CERTIFIED DEVELOPMENT CORP

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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

1982

Legal Domicile

Principal Officer

MARK WILLIAMS

Phone

5178866612

Tax Period

2024-10-01 to 2025-09-30

MICHIGAN CERTIFIED DEVELOPMENT CORP, founded in 1982, is a community nonprofit that reported $4.3M in total revenue in fiscal year 2024. Net assets of $9.4M represent 26 months of operating reserves.

Mission

TO STIMULATE ECONOMIC DEVELOPMENT IN MICHIGAN BY PROMOTING AND ASSISTING IN THE GROWTH AND DEVELOPMENT OF BUSINESSES BY HELPING BUSINESSES TO OBTAIN FINANCING.

Program Service Accomplishments

Program 1

Expenses: $3,147,810 Revenue: $3,963,748

ASSISTED 67 SMALL BUSINESSES WITH OBTAINING FINANCING THROUGH THE SBA 504 PROGRAM THEREBY BENEFITING THE MICHIGAN ECONOMY BY THE CREATION AND/OR RETENTION OF 1,829 JOBS. ASSISTED 46 SMALL BUSINESSES WITH OBTAINING FINANCING THROUGH THE SBA 7(A) LOAN PROGRAM THEREBY BENEFITING THE MICHIGAN ECONOMY BY THE CREATION AND/OR RETENTION OF 717 JOBS. ASSISTED 8 SMALL BUSINESSES WITH OBTAINING FINANCING THROUGH THE SBA 7(A) COMMUNITY ADVANTAGE PROGRAM TOTALING $2,509,000.

Program 2

Expenses: $599,583

MONITORED REPAYMENTS FOR THE OUTSTANDING LOAN PORTFOLIO OF APPROXIMATELY 885 LOANS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,963,748

Investment Income $381,850

Other Revenue $0

TOTAL REVENUE $4,345,598

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,166,708

Fundraising Expenses $0

Program Expenses $3,747,393

Other Expenses $1,090,970

TOTAL EXPENSES $4,257,678

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,345,598	$4,148,673	+0.0%
Expenses	$4,257,678	$4,034,729	+0.1%
Net Income	$87,920	$113,944	-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

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

$303,834

Total Directors

$66,220

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN A JANICK	DIRECTOR	2.00	Director	$5,100	$0	$5,100
MARK MORANTE	VICE CHAIR	2.00	Officer Director	$6,280	$0	$6,280
JOSEPH CALVARUSO	DIRECTOR	2.00	Director	$4,760	$0	$4,760
TOM JOHNSON	DIRECTOR	2.00	Director	$4,420	$0	$4,420
JANET MCCLELLAND	DIRECTOR	2.00	Director	$5,600	$0	$5,600
ANTHONY REED	DIRECTOR	2.00	Director	$6,460	$0	$6,460
GREGORY NICHOLAS	DIRECTOR	2.00	Director	$6,120	$0	$6,120
CALVIN C CUPIDORE JR	DIRECTOR	2.00	Director	$4,420	$0	$4,420
DEBRA GAGLIARDI	CHAIR	5.00	Officer Director	$6,800	$0	$6,800
JASON BARNETT	DIRECTOR	5.00	Director	$9,640	$0	$9,640
JAMES FAY	TREASURER/SECRETARY	5.00	Officer Director	$6,620	$0	$6,620
MARK WILLIAMS	PRESIDENT	40.00	Officer	$247,921	$36,213	$284,134
MARNIE SPITZLEY	VP OF OPERATIONS	40.00	Highest	$136,210	$29,570	$165,780
ERIC J KEHLER	VP OF 504 LENDING	40.00	Highest	$156,349	$44,328	$200,677
SCOTT VROEGINDEWEY	SENIOR LOAN OFFICER	40.00	Highest	$181,233	$35,590	$216,823
STEVEN PRICCO	DIRECTOR OF 7A LENDING	40.00	Highest	$136,554	$42,631	$179,185
JOHN JOHNSON	SENIOR LOAN OFFICER	40.00	Highest	$151,461	$38,927	$190,388

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	$4,345,598	$4,257,678	$10,188,009	$87,920
2024	$4,148,673	$4,034,729	$9,654,851	$113,944
2023	$3,683,434	$3,910,841	$8,735,406	$-227,407
2022	$3,345,463	$3,721,907	$8,289,445	$-376,444
2021	$6,129,522	$3,304,674	$9,158,589	$2,824,848
2020	$3,825,592	$3,345,344	$7,505,824	$480,248
2019	$3,185,851	$3,270,484	$6,712,727	$-84,633
2018	$3,098,033	$2,676,412	$6,766,588	$421,621