UPPER PENINSULA ECONOMIC DEVELOPMENT CORPORATION

EIN: 931644302 501(c)(3) Community Improvement

MARQUETTE, MI

Total Revenue
$500,370
Total Expenses
$312,310
Total Assets
$7,414,537
Net Assets
$188,060
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2023
Legal Domicile
MI
Principal Officer
DAVID NYBERG
Phone
9062506339
Tax Period
2023-01-01 to 2023-12-31

UPPER PENINSULA ECONOMIC DEVELOPMENT CORPORATION, founded in 2023, is a small nonprofit in the Community Improvement sector that reported $500K in total revenue in fiscal year 2023. The organization ran a surplus of $188K, a strong 38% operating margin.

Mission

ADDRESS THE UPPER PENINSULAS IMMEDIATE NEED FOR HOUSING AND PROVIDE THE REGION WITH A LONG-TERM, SUSTAINABLE FUND TO SOLVE FUTURE HOUSING CHALLENGES.

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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 $375,000
Program Service Revenue $0
Investment Income $125,370
Other Revenue $0
TOTAL REVENUE $500,370

Expense Breakdown

Grants Paid $0
Salaries & Benefits $17,500
Fundraising Expenses $0
Program Expenses $177,144
Other Expenses $294,810
TOTAL EXPENSES $312,310

Year-over-Year Comparison

2023 2022 Change
Revenue $500,370 N/A N/A
Expenses $312,310 N/A N/A
Net Income $188,060 N/A N/A
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
5
Independent Members
5
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
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TODD LAFAVE TREASUER 2.00
Officer Director
$0 $0 $0
RONALD MEISTER MEMBER 1.00
Director
$0 $0 $0
DAVID NYBERG PRESIDENT 2.00
Officer Director
$0 $0 $0
STEPHEN VAIRO VICE CHAIR 2.00
Officer Director
$0 $0 $0
DAVID VLAHOS 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
2023 $500,370 $312,310 $7,414,537 $188,060
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