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Southwest Michigan First Corp

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 382853785 ✦ Kalamazoo, MI ✦ Designated as a 501(c)(3)

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Overview

What is Southwest Michigan First Corp?

Southwest Michigan First Corp is a charitable organization based in Kalamazoo, Michigan. Its primary mission is to serve as a regional economic development agency for Southwest Michigan, attracting and retaining businesses, and reducing poverty and governmental burden by creating job opportunities. This nonprofit corporation operates on a non-profit basis, fostering partnerships between businesses, education, foundations, and the public sector. By pursuing new growth opportunities and advocating for development, Southwest Michigan First Corp aims to enhance the area's human, technical, and capital resources, ultimately contributing to the overall development of the region. The organization currently employs 31 individuals.


Official website here: www.southwestmichiganfirst.com

What are the reviews and ratings of this charity?

Charity Navigator Rating: 88% (Three-Star out of Four Stars)

Southwest Michigan First Corp has received a solid three-star rating from Charity Navigator, reflecting its strong performance in accountability and finance with an overall score of 88%. This rating is based entirely on its accountability and finance beacon, demonstrating a robust governance structure with 98% of its board members being independent, which enhances transparency and decision-making.

The organization excels in several key areas, including having a well-established audit and oversight committee and a comprehensive conflict of interest and whistleblower policy. Its program expense ratio is commendable at 70.28%, indicating that a significant portion of its resources is directed toward its core mission. Furthermore, the fundraising efficiency ratio is impressive, suggesting that the nonprofit is effective in raising funds with low costs.

However, there are some areas for improvement, notably the liabilities to assets ratio at 72.40%, which may raise concerns about financial sustainability. While the organization demonstrates strong operational governance, addressing its financial ratios could enhance its overall stability and attract more support from potential donors.


This AI summary has been generated from information found on Charity Navigator.

Is Southwest Michigan First Corp legitimate?

Southwest Michigan First Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southwest Michigan First Corp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.


Heare are some key statistics you may want to consider:

Executive Compensation: $1,265,353
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,034,372

For more financial information, click here


Official website here: www.southwestmichiganfirst.com

What is the mission statement of Southwest Michigan First Corp?

Southwest Michigan First Corp is organized with a charitable, educational, and scientific purpose, primarily functioning as a regional economic development agency. Its mission is to foster a collaborative partnership between business, education, foundations, and the public sector. The organization seeks to pursue new growth and development opportunities, act as a prominent advocate for development within the region, and actively participate in activities aimed at enhancing the area's human, technical, and capital resources.


Official website here: www.southwestmichiganfirst.com

Who is the CEO of Southwest Michigan First Corp?

Jonas Peterson is the CEO of Southwest Michigan First Corp The CEO's salary of Southwest Michigan First Corp is $376,973 and their total compensation is $478,928.


Official website here: www.southwestmichiganfirst.com

What is the revenue of Southwest Michigan First Corp?

Southwest Michigan First Corp's revenue in 2023 was $8,034,787.


Official website here: www.southwestmichiganfirst.com

Who are the executives of Southwest Michigan First Corp and what are their salaries?

The average compensation at Southwest Michigan First Corp during 2023 was $88,451. There are 26 employees and 61 volunteers at Southwest Michigan First Corp.

Here are 69 key members and their salaries (Southwest Michigan First Corp's CEO's salary is $376,973 and their total compensation is $478,928):


Aaron Zeigler (Chair)
  • Compensation: $0
  • Related: $0
  • Other: $0
Joe Cekola (Vice Chair)
  • Compensation: $0
  • Related: $0
  • Other: $0
Kelly Presta (Vice Chair)
  • Compensation: $0
  • Related: $0
  • Other: $0
Mark Jones (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Tom Webb (Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Danielle Mason Anderson (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Dan Bartholomae (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Brian Bellware (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Fritz Brown (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Lynn Chen-Zhang (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jamie Clark (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Wyatt Cline (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Daniel Coffman (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Troy Cuvelier (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Matt Davis (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Greg Dobson (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jack Endres (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
James Escamilla (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jim Feltch (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Bjorn Green (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Bill Huizenga (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Aimee Jachym (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Dan Jaqua (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Bill Johnston (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Michael A Jones Sr (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ian Kennedy (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
John Kerr (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Scott Lebeau (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Patrick Lennon (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
James Liggins Jr (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Rich Macdonald (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Bill Manns (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
David Maurer (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Todd Mcdonald (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Russ Mcfee (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ken Miller (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Matt Molitor (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ed Montgomery (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Kevin Murphy (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ben Nobis (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Tg Nulty (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jeff O'Brien (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Greg O'Niel (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Mark Olson (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Bill Parfet (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Shawn Premer (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Mike Rozewicz (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Greg Salisbury (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Fred Schubkegel (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Gary Schultz (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Marc Schupan (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Tyler Sheerer (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Robb Smalldon (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Paula Termuhlen (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Becky Thompson (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Nancy Turtle (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Natalie Valentine (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Michelle Vantorre-Werme (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Mark Welch (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Sean Welsh (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Perry Wolfe (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jonas Peterson (Chief Executive Officer)
  • Compensation: $376,973
  • Related: $0
  • Other: $101,955
Carla Sones (President)
  • Compensation: $235,156
  • Related: $0
  • Other: $36,855
Kim Weishaar (Chief Financial Officer)
  • Compensation: $187,653
  • Related: $0
  • Other: $30,237
Jill Bland (Executive Vp - Economic Development)
  • Compensation: $256,503
  • Related: $0
  • Other: $40,021
Nicholas Riashi (Senior Director)
  • Compensation: $148,019
  • Related: $0
  • Other: $31,612
Abbie Rumery (Vice President)
  • Compensation: $136,367
  • Related: $0
  • Other: $28,092
Clarence Lloyd (Vice President)
  • Compensation: $129,091
  • Related: $0
  • Other: $33,240
Bronwyn Drost (Senior Director)
  • Compensation: $106,525
  • Related: $0
  • Other: $21,246


Official website here: www.southwestmichiganfirst.com

Where can I find the form 990 for Southwest Michigan First Corp?

Southwest Michigan First Corp's most recent form 990 was submitted in 2023 and can be accessed here.


Official website here: www.southwestmichiganfirst.com

Learn more at the official website: www.southwestmichiganfirst.com

Mission Statement of Southwest Michigan First Corp

Southwest Michigan First Corp, a regional economic development organization, is dedicated to serving a charitable, educational, scientific, and religious purpose. The corporation's mission is to establish a strong partnership among businesses, education institutions, foundations, and the public sector. By doing so, it aims to pursue new opportunities for growth and development in the region. Southwest Michigan First Corp also acts as the primary advocate for pro-development within the area. The organization takes an active role in activities designed to enhance the region's human, technical, and capital resources. In essence, Southwest Michigan First Corp works tirelessly to foster a thriving and prosperous economic environment in its region.

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Impact



July, 2024

Southwest Michigan First Corp serves as a regional economic development organization for Southwest Michigan, aiming to attract and retain businesses in the area while also working to reduce poverty and government burdens by fostering job growth. Their mission is centered around building effective partnerships among business, education, foundations, and the public sector, pursuing new growth opportunities, advocating for pro-development initiatives, and actively participating in activities to develop the region's human, technical, and capital resources. Through their efforts, Southwest Michigan First Corp plays a significant role in driving economic development and community improvement in the region.



This information is meant to be a general summary of Southwest Michigan First Corp. Please take the time to review official sources before making any decisions based upon the content provided here.


Financials

This financial information is from Propublica.

Revenue
$8,034,787 (2023)
Expenses
$7,479,006 (2023)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2023.

  • Investment Income: $60,422
  • Program Service Revenue: $994,163
  • Gross Receipts: $8,034,787

Assets and Liabilities:

  • Total Assets: $10,780,961
  • Total Liabilities: $7,519,774
  • Net Assets: $3,261,187

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

CATALYST UNIVERSITY

Revenue

$537,736

CHAMBER MEMBERSHIP FEE

Revenue

$260,943

OTHER PROGRAM SERVICES

Revenue

$174,720

OTHER CONTRACTS/GRANTS

Revenue

$20,764

Organization Details

Founding Year

1988

Principal Officer

Jonas Peterson

Website

www.southwestmichiganfirst.com

NTEE Category

Code: S300 - Community improvement

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