SOUTHWEST MICHIGAN FIRST 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

1988

Legal Domicile

Phone

2695539588

Tax Period

2025-01-01 to 2025-12-31

SOUTHWEST MICHIGAN FIRST CORP, founded in 1988, is a community nonprofit in the Community Improvement sector that reported $9.1M in total revenue in fiscal year 2025. Revenue surged 34% from the prior year, signaling strong growth momentum. Expenses of $8.8M left a modest 4% surplus.

Mission

Increase prosperity for all in Southwest Michigan.

Program Service Accomplishments

Program 1

Expenses: $4,115,604

SOUTHWEST MICHIGAN FIRST ADMINISTERED APPROXIMATELY $4,116,000 IN GRANTS TO BUSINESSES THROUGH FUNDING FROM THE MEDC (STATE ECONOMIC DEVELOPMENT CORPORATION) DURING 2025.

Program 2

Expenses: $2,406,587 Revenue: $710,272

OTHER ECONOMIC DEVELOPMENT - THE PURPOSE IS TO SERVE AS A REGIONAL ECONOMIC DEVELOPMENT ORGANIZATION TO ATTRACT BUSINESS TO AND RETAIN BUSINESS IN, AND TO REDUCE POVERTY AND THE BURDEN OF GOVERNMENT...

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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 (2025)

Revenue Breakdown

Contributions & Grants $8,331,893

Program Service Revenue $710,272

Investment Income $69,865

Other Revenue $34,911

TOTAL REVENUE $9,146,941

Expense Breakdown

Grants Paid $4,115,604

Salaries & Benefits $2,957,486

Fundraising Expenses $336,657

Program Expenses $6,522,191

Other Expenses $1,715,765

TOTAL EXPENSES $8,788,855

Year-over-Year Comparison

	2025	2024	Change
Revenue	$9,146,941	$6,829,723	+0.3%
Expenses	$8,788,855	$6,025,163	+0.5%
Net Income	$358,086	$804,560	-0.6%

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

$1,052,695

Total Directors

$644,052

Key Employees

$306,587

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIELLE MASON ANDERSON	SECRETARY	1.3	Officer Director	$0	$0	$0
GREG DOBSON	CHAIR	1.3	Officer Director	$0	$0	$0
JOE CEKOLA	VICE CHAIR	1.3	Officer Director	$0	$0	$0
JONAS PETERSON	CHIEF EXECUTIVE OFFICER	40.0	Officer Director	$494,194	$149,858	$644,052
TOM WEBB	TREASURER	1.3	Officer Director	$0	$0	$0
AARON ZEIGLER	DIRECTOR	1.0	Director	$0	$0	$0
AIMEE JACHYM	DIRECTOR	1.0	Director	$0	$0	$0
ANDREA HAAS	DIRECTOR	1.0	Director	$0	$0	$0
ANGELA GILDEA	DIRECTOR	1.0	Director	$0	$0	$0
BECKY THOMPSON	DIRECTOR	1.0	Director	$0	$0	$0
BEN NOBIS	DIRECTOR	1.0	Director	$0	$0	$0
BETH STEWART	DIRECTOR	1.0	Director	$0	$0	$0
BILL HUIZENGA	DIRECTOR	1.0	Director	$0	$0	$0
BILL JOHNSTON	DIRECTOR	1.0	Director	$0	$0	$0
BILL MANNS	DIRECTOR	1.0	Director	$0	$0	$0
BILL PARFET	DIRECTOR	1.0	Director	$0	$0	$0
BJORN GREEN	DIRECTOR	1.0	Director	$0	$0	$0
BRANDON HOGGARD	DIRECTOR	1.0	Director	$0	$0	$0
BRIAN BELLWARE	DIRECTOR	1.0	Director	$0	$0	$0
DAN BARTHOLOMAE	DIRECTOR	1.0	Director	$0	$0	$0
DAN JAQUA	DIRECTOR	1.0	Director	$0	$0	$0
DANIEL COFFMAN	DIRECTOR	1.0	Director	$0	$0	$0
DAVID MAURER	DIRECTOR	1.0	Director	$0	$0	$0
DEVON VOSTER	DIRECTOR	1.0	Director	$0	$0	$0
FRED SCHUBKEGEL	DIRECTOR	1.0	Director	$0	$0	$0
FRITZ BROWN	DIRECTOR	1.0	Director	$0	$0	$0
GREG O'NIEL	DIRECTOR	1.0	Director	$0	$0	$0
GREG SALISBURY	DIRECTOR	1.0	Director	$0	$0	$0
IAN KENNEDY	DIRECTOR	1.0	Director	$0	$0	$0
JACK ENDRES	DIRECTOR	1.0	Director	$0	$0	$0
JAMES ESCAMILLA	DIRECTOR	1.0	Director	$0	$0	$0
JAMES LIGGINS	DIRECTOR	1.0	Director	$0	$0	$0
JAMIE CLARK	DIRECTOR	1.0	Director	$0	$0	$0
JEFF O'BRIEN	DIRECTOR	1.0	Director	$0	$0	$0
JIM FELTCH	DIRECTOR	1.0	Director	$0	$0	$0
JOHN KERR	DIRECTOR	1.0	Director	$0	$0	$0
JOHN WALDRON	DIRECTOR	1.0	Director	$0	$0	$0
JOSE GOMEZ	DIRECTOR	1.0	Director	$0	$0	$0
KEVIN MURPHY	DIRECTOR	1.0	Director	$0	$0	$0
LYNN CHEN-ZHANG	DIRECTOR	1.0	Director	$0	$0	$0
MARC SCHUPAN	DIRECTOR	1.0	Director	$0	$0	$0
MARGIE SIMMONS	DIRECTOR	1.0	Director	$0	$0	$0
MARK JONES	DIRECTOR	1.0	Director	$0	$0	$0
MARK OLSON	DIRECTOR	1.0	Director	$0	$0	$0
MARLEE D'ARCO	DIRECTOR	1.0	Director	$0	$0	$0
MATT WEISHAAR	DIRECTOR	1.0	Director	$0	$0	$0
MICHAEL A JONES SR	DIRECTOR	1.0	Director	$0	$0	$0
MIKE ODAR	DIRECTOR	1.0	Director	$0	$0	$0
MIKE ROZEWICZ	DIRECTOR	1.0	Director	$0	$0	$0
MITCH MOLDOVAN	DIRECTOR	1.0	Director	$0	$0	$0
NANCY TURTLE	DIRECTOR	1.0	Director	$0	$0	$0
NATALIE VALENTINE	DIRECTOR	1.0	Director	$0	$0	$0
PERRY WOLFE	DIRECTOR	1.0	Director	$0	$0	$0
RICH MACDONALD	DIRECTOR	1.0	Director	$0	$0	$0
ROBERT SAWYER	DIRECTOR	1.0	Director	$0	$0	$0
RUSS KAVALHUNA	DIRECTOR	1.0	Director	$0	$0	$0
RUSSELL LAUDERDALE	DIRECTOR	1.0	Director	$0	$0	$0
SCOTT LEBEAU	DIRECTOR	1.0	Director	$0	$0	$0
SEAN WELSH	DIRECTOR	1.0	Director	$0	$0	$0
SHAWN PREMER	DIRECTOR	1.0	Director	$0	$0	$0
STEVE CARLISLE	DIRECTOR	1.0	Director	$0	$0	$0
TERRY RUBENTHALER	DIRECTOR	1.0	Director	$0	$0	$0
TG NULTY	DIRECTOR	1.0	Director	$0	$0	$0
TIM RAYMAN	DIRECTOR	1.0	Director	$0	$0	$0
TODD MCDONALD	DIRECTOR	1.0	Director	$0	$0	$0
TROY CUVELIER	DIRECTOR	1.0	Director	$0	$0	$0
WYATT CLINE	DIRECTOR	1.0	Director	$0	$0	$0
CARLA SONES	PRESIDENT	11.0	Officer	$260,231	$43,290	$303,521
MICHAEL JENSEN	VP OF FINANCE AND OPERATIONS (PART YEAR)	40.0	Officer	$48,712	$7,417	$56,129
TWAYNE HOWARD	CHIEF FINANCIAL OFFICER	40.0	Officer	$29,249	$19,744	$48,993
JILL BLAND	EXECUTIVE VP-ECONOMIC DEVELOPMENT	40.0	Key Emp	$260,474	$46,113	$306,587
ABBIE RUMERY	VICE PRESIDENT	40.0	Highest	$141,174	$31,891	$173,065
CLARENCE LLOYD	VICE PRESIDENT	40.0	Highest	$136,715	$39,279	$175,994
HEATHER BURNETT	DIRECTOR	40.0	Highest	$103,054	$23,373	$126,427
JUSTINE LAUX	SENIOR DIRECTOR	39.0	Highest	$111,622	$6,792	$118,414
NICHOLAS RIASHI	SENIOR DIRECTOR	6.0	Highest	$141,111	$35,329	$176,440

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	$9,146,941	$8,788,855	$12,738,808	$358,086
2024	$6,829,723	$6,025,163	$9,206,842	$804,560
2023	$8,034,787	$7,479,006	$13,622,051	$555,781
2022	$5,452,905	$5,142,028	$10,780,961	$310,877
2021	$8,560,798	$7,932,397	$10,945,070	$628,401
2020	$12,966,578	$12,514,351	$7,200,644	$452,227
2019	$5,986,965	$5,832,070	$6,827,878	$154,895
2018	$5,429,959	$5,582,788	$6,592,690	$-152,829