2024-06-21T14:08:28-05:00 2023-12-31 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2023-01-01 382853785 SOUTHWEST MICHIGAN FIRST CORP SOUT 2695539588 180 EAST WATER STREET 2690 KALAMAZOO MI 49007 JONAS PETERSON CHIEF EXECUTIVE OFFICER 2695539588 2024-06-17 1 JONAS PETERSON 999009999 0 SAMANTHA L BECKER P01344887 2695674500 2024-06-17 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z JONAS PETERSON 180 EAST WATER STREET 2690 KALAMAZOO MI 49007 8034787 0 X SOUTHWESTMICHIGANFIRST.COM X 1988 MI TO SERVE AS A REGIONAL ECONOMIC DEVELOPMENT ORGANIZATION FOR SOUTHWEST MICHIGAN. 61 60 26 61 0 0 4068887 6837766 1238576 994163 13692 60422 131750 142436 5452905 8034787 273006 2749078 0 0 2993296 2814446 0 0 274181 1875726 1915482 5142028 7479006 310877 555781 10780961 13622051 7519774 9862816 3261187 3759235 X THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR CHARITABLE, RELIGIOUS, EDUCATIONAL, AND SCIENTIFIC PURPOSES, INCLUDING THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT ARE TAX-EXEMPT UNDER INTERNAL REVENUE CODE ("CODE") SECTION 501 (C)(3), AND WITHIN THOSE LIMITED PURPOSES, TO SERVE ON A NON-PROFIT BASIS AS A REGIONAL ECONOMIC DEVELOPMENT AGENCY FOR SOUTHWEST MICHIGAN. ITS MISSION WILL BE TO BUILD AN EFFECTIVE PARTNERSHIP AMONG BUSINESS, EDUCATION, FOUNDATIONS AND THE PUBLIC SECTOR, PURSUE NEW OPPORTUNITIES FOR GROWTH AND DEVELOPMENT, SERVE AS THE PRIMARY PRO-DEVELOPMENT ADVOCATE WITHIN SOUTHWEST MICHIGAN, AND TAKE AN ACTIVE ROLE IN ACTIVITIES DESIGNED TO DEVELOP THE AREA'S HUMAN, TECHNICAL AND CAPITAL RESOURCES. 0 0 2632205 0 994163 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 BY GROWING JOBS IN SOUTHWEST MICHIGAN. 2749078 2749078 0 SOUTHWEST MICHIGAN FIRST ADMINISTERED APPROXIMATELY $2,749,000 IN GRANTS TO BUSINESSES THROUGH FUNDING FROM THE MEDC (STATE ECONOMIC DEVELOPMENT CORPORATION) DURING 2023. 5381283 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 1 0 0 1 30 0 26 1 0 0 0 0 0 0 0 0 0 0 0 0 X 61 60 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MI X JONAS PETERSON 2695539588 180 EAST WATER STREET STE 2690 KALAMAZOO MI 49007 AARON ZEIGLER CHAIR 1.30 0.00 X X 0 0 0 JOE CEKOLA VICE CHAIR 1.30 0.00 X X 0 0 0 KELLY PRESTA VICE CHAIR 1.30 0.00 X X 0 0 0 MARK JONES SECRETARY 1.30 0.00 X X 0 0 0 TOM WEBB TREASURER 1.30 0.00 X X 0 0 0 DANIELLE MASON ANDERSON DIRECTOR 1.00 0.00 X 0 0 0 DAN BARTHOLOMAE DIRECTOR 1.00 0.00 X 0 0 0 BRIAN BELLWARE DIRECTOR 1.00 0.00 X 0 0 0 FRITZ BROWN DIRECTOR 1.00 0.00 X 0 0 0 LYNN CHEN-ZHANG DIRECTOR 1.00 0.00 X 0 0 0 JAMIE CLARK DIRECTOR 1.00 0.00 X 0 0 0 WYATT CLINE DIRECTOR 1.00 0.00 X 0 0 0 DANIEL COFFMAN DIRECTOR 1.00 0.00 X 0 0 0 TROY CUVELIER DIRECTOR 1.00 0.00 X 0 0 0 MATT DAVIS DIRECTOR 1.00 0.00 X 0 0 0 GREG DOBSON DIRECTOR 1.00 0.00 X 0 0 0 JACK ENDRES DIRECTOR 1.00 0.00 X 0 0 0 JAMES ESCAMILLA DIRECTOR 1.00 0.00 X 0 0 0 JIM FELTCH DIRECTOR 1.00 0.00 X 0 0 0 BJORN GREEN DIRECTOR 1.00 0.00 X 0 0 0 BILL HUIZENGA DIRECTOR 1.00 0.00 X 0 0 0 AIMEE JACHYM DIRECTOR 1.00 0.00 X 0 0 0 DAN JAQUA DIRECTOR 1.00 0.00 X 0 0 0 BILL JOHNSTON DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL A JONES SR DIRECTOR 1.00 0.00 X 0 0 0 IAN KENNEDY DIRECTOR 1.00 0.00 X 0 0 0 JOHN KERR DIRECTOR 1.00 0.00 X 0 0 0 SCOTT LEBEAU DIRECTOR 1.00 0.00 X 0 0 0 PATRICK LENNON DIRECTOR 1.00 0.00 X 0 0 0 JAMES LIGGINS JR DIRECTOR 1.00 0.00 X 0 0 0 RICH MACDONALD DIRECTOR 1.00 0.00 X 0 0 0 BILL MANNS DIRECTOR 1.00 0.00 X 0 0 0 DAVID MAURER DIRECTOR 1.00 0.00 X 0 0 0 TODD MCDONALD DIRECTOR 1.00 0.00 X 0 0 0 RUSS MCFEE DIRECTOR 1.00 0.00 X 0 0 0 KEN MILLER DIRECTOR 1.00 0.00 X 0 0 0 MATT MOLITOR DIRECTOR 1.00 0.00 X 0 0 0 ED MONTGOMERY DIRECTOR 1.00 0.00 X 0 0 0 KEVIN MURPHY DIRECTOR 1.00 0.00 X 0 0 0 BEN NOBIS DIRECTOR 1.00 0.00 X 0 0 0 TG NULTY DIRECTOR 1.00 0.00 X 0 0 0 JEFF O'BRIEN DIRECTOR 1.00 0.00 X 0 0 0 GREG O'NIEL DIRECTOR 1.00 0.00 X 0 0 0 MARK OLSON DIRECTOR 1.00 0.00 X 0 0 0 BILL PARFET DIRECTOR 1.00 0.00 X 0 0 0 SHAWN PREMER DIRECTOR 1.00 0.00 X 0 0 0 MIKE ROZEWICZ DIRECTOR 1.00 0.00 X 0 0 0 GREG SALISBURY DIRECTOR 1.00 0.00 X 0 0 0 FRED SCHUBKEGEL DIRECTOR 1.00 0.00 X 0 0 0 GARY SCHULTZ DIRECTOR 1.00 0.00 X 0 0 0 MARC SCHUPAN DIRECTOR 1.00 0.00 X 0 0 0 TYLER SHEERER DIRECTOR 1.00 0.00 X 0 0 0 ROBB SMALLDON DIRECTOR 1.00 0.00 X 0 0 0 PAULA TERMUHLEN DIRECTOR 1.00 0.00 X 0 0 0 BECKY THOMPSON DIRECTOR 1.00 0.00 X 0 0 0 NANCY TURTLE DIRECTOR 1.00 0.00 X 0 0 0 NATALIE VALENTINE DIRECTOR 1.00 0.00 X 0 0 0 MICHELLE VANTORRE-WERME DIRECTOR 1.00 0.00 X 0 0 0 MARK WELCH DIRECTOR 1.00 0.00 X 0 0 0 SEAN WELSH DIRECTOR 1.00 0.00 X 0 0 0 PERRY WOLFE DIRECTOR 1.00 0.00 X 0 0 0 JONAS PETERSON CHIEF EXECUTIVE OFFICER 39.00 1.00 X 376973 0 101955 CARLA SONES PRESIDENT 14.00 26.00 X 235156 0 36855 KIM WEISHAAR CHIEF FINANCIAL OFFICER 40.00 0.00 X 187653 0 30237 JILL BLAND EXECUTIVE VP - ECONOMIC DEVELOPMENT 40.00 0.00 X 256503 0 40021 NICHOLAS RIASHI SENIOR DIRECTOR 13.00 27.00 X 148019 0 31612 ABBIE RUMERY VICE PRESIDENT 40.00 0.00 X 136367 0 28092 CLARENCE LLOYD VICE PRESIDENT 40.00 0.00 X 129091 0 33240 BRONWYN DROST SENIOR DIRECTOR 40.00 0.00 X 106525 0 21246 1576287 0 323258 8 0 1 0 0 3173419 3664347 6837766 CATALYST UNIVERSITY 611430 537736 537736 CHAMBER MEMBERSHIP FEE 561499 260943 260943 OTHER PROGRAM SERVICES 561499 174720 174720 OTHER CONTRACTS/GRANTS 561499 20764 20764 994163 60422 60422 136187 0 136187 136187 136187 REBATES & REIMBURSEMEN 561499 6249 6249 6249 8034787 994163 0 202858 2749078 2749078 1265353 635036 538010 92307 1034372 519115 439800 75457 73709 36992 31340 5377 267883 134441 113900 19542 173129 86887 73612 12630 21041 14922 6119 35045 35045 9745 9745 14273 7163 6069 1041 24366 18028 6338 50405 50405 98729 98729 121483 121483 343650 172466 146115 25069 77671 71368 3627 2676 812637 755904 16651 40082 37070 35450 1620 207524 108792 98732 17800 17800 DUES AND MEMBERSHIPS 34181 25896 8285 STAFF APPRECIATION 6235 6235 BAD DEBT EXPENSE 3627 3627 7479006 5381283 1823542 274181 2131533 2620160 968613 4417131 106132 140828 106136 96327 304521 142333 4883423 1287422 3771637 3596001 53 32 474488 0 2917848 2609239 10780961 13622051 224698 242914 2475439 648137 910212 3581438 3475856 3065501 2758395 7519774 9862816 X 2914687 2962635 346500 796600 3261187 3759235 10780961 13622051 555781 -57733 0 X X 0 1 X 1 0 X 4219375 11712557 8129800 4068887 6837766 34968385 4219375 11712557 8129800 4068887 6837766 34968385 7186502 27781883 105151 103099 107482 144039 196609 656380 30725 164391 4893 1403 6249 207661 35832426 5164904 0.77530 0.73710 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS REVENUE - 2019 AMOUNT: $ 30,725. 2020 AMOUNT: $ 164,391. 2021 AMOUNT: $ 4,893. 2022 AMOUNT: $ 1,403. 2023 AMOUNT: $ 6,249. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 9745 0 0 9745 0 PART II-B, LINE 1: LOBBYING TO STATE LEGISLATURE ABOUT TAX AND BUSINESS ISSUES AFFECTING THE SEVEN-COUNTY REGION THAT MAKES UP SOUTHWEST MICHIGAN. 4250181 1042588 3207593 217741 52621 165120 390375 167087 223288 25126 25126 0 3596001 OPERATING RIGHT-OF-USE ASSET 2591931 FINANCE RIGHT-OF-USE ASSET 17308 2609239 RETIREMENT LIABILITY 148376 LEASE LIABILITIES - OPERATING 2591931 LEASE LIABILITIES - FINANCE 18088 2758395 1 LTW ERGONOMIC SOLUTIONS 311 S PAW PAW STREET LAWRENCE MI 49064 050548400 25000 0 N/A N/A INDUSTRY 4.0 GRANT (MEDC) PROGRESSIVE DYNAMICS INC 507 INDUSTRIAL ROAD MARSHALL MI 49068 381749179 25000 0 N/A N/A INDUSTRY 4.0 GRANT (MEDC) FRAME PRODUCTS 206 MAIN STREET SUITE 2 BUCHANAN MI 49017 383519423 25000 0 N/A N/A INDUSTRY 4.0 GRANT (MEDC) JOURNEYMAN DISTILLERY LLC 109 GENERATIONS DRIVE THREE OAKS MI 49128 272032104 11288 0 N/A N/A INDUSTRY 4.0 GRANT (MEDC) SISTER LAKES BREWING COMPANY LLC 92500 CO ROAD 690 DOWAGIAC MI 49047 473683488 14600 0 N/A N/A INDUSTRY 4.0 GRANT (MEDC) LAKESHORE DIE CAST 8829 STEVENSVILLE-BARODA ROAD PO BOX BARODA MI 49101 381749856 25000 0 N/A N/A INDUSTRY 4.0 GRANT (MEDC) THREE BLONDES BREWING LLC 1875 PHOENIX ST SUITE B SOUTH HAVEN MI 49090 812480391 7125 0 N/A N/A INDUSTRY 4.0 GRANT (MEDC) LYONS INDUSTRIES 3000 M-62 WEST DOWAGIAC MI 49047 381867638 25000 0 N/A N/A INDUSTRY 4.0 GRANT (MEDC) AFFINITY CUSTOM MOLDING INC 21198 M60 PO BOX 9 MENDON MI 49072 383194877 25000 0 N/A N/A INDUSTRY 4.0 GRANT (MEDC) GAISHIN MANUFACTURING LLC 240 URBANDALE AVE BENTON HARBOR MI 49022 853862708 25000 0 N/A N/A INDUSTRY 4.0 GRANT (MEDC) BATTLE CREEK UNLIMITED 4950 WEST DICKMAN ROAD A-1 BATTLE CREEK MI 49037 381951806 2379369 0 N/A N/A REVITALIZATION AND PLACEMAKING GRANT (MEDC) JUNIPER RAYNE STUDIOS INC 42304 W RED ARROW HIGHWAY PAW PAW MI 49079 873083812 96070 0 N/A N/A REVITALIZATION AND PLACEMAKING GRANT (MEDC) CORNERSTONE ALLIANCE 80 W MAIN STREET BENTON HARBOR MI 49022 382772476 65625 0 N/A N/A COLLABORATIVE DEVELOPMENT COUNCIL GRANT (MEDC) 0 13 PART I, LINE 2: THE ORGANIZATION ISSUED GRANTS ON BEHALF OF THE MICHIGAN ECONOMIC DEVELOPMENT CORPORATION (MEDC). THE MEDC ALLOCATED FUNDS TO REGIONAL ECONOMIC DEVELOPMENT ORGANIZATIONS FOR VARIOUS ECONOMIC DEVELOPMENT INITIATIVES SUCH AS PLACEMAKING AND INDUSTRY 4.0 GRANTS. SOUTHWEST MICHIGAN FIRST WAS THE FIDUCIARY RESPONSIBLE FOR ALLOCATING FUNDS TO SMALL BUSINESSES IN SOUTHWEST MICHIGAN. THE ORGANIZATION REGULARLY FOLLOWS-UP WITH THE GRANT RECIPIENTS TO DETERMINE IF THE FUNDS HAVE BEEN USED IN ACCORDANCE WITH THE RESPECTIVE GRANT AGREEMENTS. X 1 1 X X X X 0 0 0 0 0 0 0 1 0 JONAS PETERSON CHIEF EXECUTIVE OFFICER 361478 0 0 0 15495 0 80000 0 21955 0 478928 0 0 0 JILL BLAND EXECUTIVE VP - ECONOMIC DEVELOPMENT 241019 0 4924 0 10560 0 13065 0 26956 0 296524 0 0 0 CARLA SONES PRESIDENT 220808 0 13776 0 572 0 11983 0 24872 0 272011 0 0 0 KIM WEISHAAR CHIEF FINANCIAL OFFICER 178784 0 8516 0 353 0 9619 0 20618 0 217890 0 0 0 NICHOLAS RIASHI SENIOR DIRECTOR 101479 0 46000 0 540 0 7550 0 24062 0 179631 0 0 0 ABBIE RUMERY VICE PRESIDENT 116198 0 14041 0 6128 0 7013 0 21079 0 164459 0 0 0 CLARENCE LLOYD VICE PRESIDENT 106129 0 21000 0 1962 0 6533 0 26707 0 162331 0 0 0 PART I, LINE 1A ALL KEY EMPLOYEES LISTED ON FORM 990, PART VII RECEIVE THE HEALTH CLUB DUES BENEFIT. THIS IS TREATED AS TAXABLE COMPENSATION. PART I, LINE 7 THE BONUS FOR THE CEO IS BASED ON PERFORMANCE AT DISCRETION OF THE PEOPLE & COMPENSATION COMMITTEE AND APPROVED BY THE BOARD. THE BONUSES FOR THE REMAINDER OF THE TEAM ARE BASED ON PERFORMANCE AT THE DISCRETION OF THE CEO. CATALYST DEVELOPMENT MORE THAN 35% OWNED BY BILL JOHNSTON, DIRECTOR. 415175 180 E WATER STREET RENT AND PARKING CHARGES. FINANCIAL ARRANGEMENT IS COMPETITIVELY PRICED. 0 FORM 990, PART VI, SECTION B, LINE 11B THE ACCOUNTING TEAM (INCLUDING THE CFO AND SENIOR DIRECTOR) REVIEWS THE FORM 990 PRIOR TO THE AUDIT & FINANCE COMMITTEE'S REVIEW. A COPY OF FORM 990 IS PROVIDED TO ALL AUDIT & FINANCE COMMITTEE MEMBERS (COMMITTEE CHAIR AND AT LARGE) FOR REVIEW PRIOR TO THE DUE DATE OF THE RETURN. AFTER THE AUDIT & FINANCE COMMITTEE REVIEWS AND APPROVES THE FORM 990, PUBLIC DISCLOSURE COPIES OF THE RETURN ARE MADE AVAILABLE TO THE ENTIRE BOARD FOR REVIEW. THE FORM 990 IS THEN PRESENTED AND APPROVED AT THE NEXT BOARD MEETING PRIOR TO FILING THE RETURN WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES AND BOARD MEMBERS ARE COVERED UNDER THE CONFLICT OF INTEREST POLICY. WHEN A BOARD MEMBER JOINS, THE MEMBER IS REQUIRED TO FILL OUT A CONFLICT OF INTEREST QUESTIONNAIRE. BOARD MEMBERS ARE THEN REMINDED ANNUALLY TO UPDATE THE QUESTIONNAIRE IF THEY BELIEVE THERE IS A CONFLICT NOT PREVIOUSLY DISCLOSED. THE CHIEF FINANCIAL OFFICER REVIEWS THE CONFLICT OF INTEREST QUESTIONNAIRES FOR POTENTIAL CONFLICTS OF INTEREST. IF A MATTER IS UNDER CONSIDERATION BY THE BOARD IN WHICH THERE IS A POSSIBLE CONFLICT OF INTEREST, THE BOARD MEMBER IS EXCUSED FROM ALL DELIBERATIONS AND VOTING ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION OF THE CEO INCLUDES A REVIEW AND APPROVAL BY INDEPENDENT PERSONS, INCLUDING THE PEOPLE AND COMPENSATION COMMITTEE AS WELL AS A COMPENSATION STUDY WHICH IS PERFORMED BY AN EXTERNAL SEARCH FIRM EVERY FEW YEARS. FORM 990, PART VI, SECTION C, LINE 19 ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, ETC. AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 2C: THERE WAS NO CHANGE IN OVERSIGHT PROCESS OR SELECTION FOR THE CURRENT YEAR. SOUTHWEST MICHIGAN PARTNERSHIPS LLC 180 EAST WATER STREET STE 2690 KALAMAZOO MI 49007 451449942 ECONOMIC DEVELOPMENT MI SOUTHWEST MICHIGAN FIRST CORP SOUTHWEST MICHIGAN BUILDINGS LLC 180 EAST WATER STREET STE 2690 KALAMAZOO MI 49007 462319546 ECONOMIC DEVELOPMENT MI 100000 3710043 SOUTHWEST MICHIGAN FIRST CORP MICHIGAN MEDICAL DEVICE ACCELERATOR 180 EAST WATER STREET STE 2690 KALAMAZOO MI 49007 611641195 ECONOMIC DEVELOPMENT MI SOUTHWEST MICHIGAN FIRST CORP SOUTHWEST MICHIGAN FIRST CORPORATION NO 2 180 EAST WATER STREET STE 2690 KALAMAZOO MI 49007 383437867 ECONOMIC DEVELOPMENT MI 501(C)(3) LINE 7 N/A 0 CONSULTANT CONNECT PO BOX 50664 KALAMAZOO MI 49005 472851823 CONSULTING MI SOUTHWEST MICHIGAN FIRST CORP C 2697507 1319838 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 CONSULTANT CONNECT N 157079 REVENUE AND TIMESHEETS CONSULTANT CONNECT O 548932 TIMESHEETS