Nonprofit · EIN 45-2471096
UP BUSINESS CAPITAL
Tax-exempt · MARQUETTE, MI 49855
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $20,354 | $54,301 | -$33,947 | $509,955 | $414,547 | $95,408 |
| December 31, 2023 | 990 | $22,355 | $46,592 | -$24,237 | $604,836 | $474,256 | $130,580 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $20,193
- Investment income
- $161
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Program services (functional)
- $32,550
- Management and general (functional)
- $21,751
Balance sheet and other
- Total assets, start of year
- $604,836
- Total assets, end of year
- $509,955
- Total liabilities, end of year
- $414,547
- Net assets, end of year
- $95,408
- Net assets without donor restrictions
- $95,408
- Gross receipts
- $20,354
- Employees
- 0
- Volunteers
- 7
- Year formed
- 2002
- State of legal domicile
- MI
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| ELIZABETH SANGALLI | PRESIDENT, B Trustee or director, Officer | 1 | $0 | $197,450 | $17,569 |
| JILL MILLER | BOARD DIRECT Trustee or director | 1 | $0 | $128,357 | $32,970 |
| CHARLES H HURST | BOARD SECRET Trustee or director, Officer | 1 | $0 | $124,826 | $9,614 |
| NADIA BRIGHAM | BOARD DIRECT Trustee or director | 0.02 | $0 | $0 | $0 |
| PETER GRAVES | BOARD DIRECT Trustee or director | 0.02 | $0 | $0 | $0 |
| ALFRED JOYAL III | BOARD DIRECT Trustee or director | 0.02 | $0 | $0 | $0 |
| CAROL JOHNSON | TREASURER Trustee or director, Officer | 0.02 | $0 | $0 | $0 |
| WES MAURER JR | BOARD DIRECT Trustee or director | 0.02 | $0 | $0 | $0 |
| BRIAN SHERIDAN | BOARD DIRECT Trustee or director | 0.02 | $0 | $0 | $0 |
| THOMAS VEAR | BOARD DIRECT Trustee or director | 0.02 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| ELIZABETH SANGALLI | PRESIDENT, B Trustee or director, Officer | 1 | $0 | $176,200 | $17,730 |
| CHARLES H HURST | BOARD SECRET Trustee or director, Officer | 1 | $0 | $120,785 | $10,547 |
| JILL MILLER | BOARD DIRECT Trustee or director | 1 | $0 | $92,310 | $32,996 |
| ALFRED JOYAL III | BOARD DIRECT Trustee or director | 0.02 | $0 | $0 | $0 |
| CAROL JOHNSON | BOARD DIRECT Trustee or director | 0.02 | $0 | $0 | $0 |
| WES MAURER JR | BOARD DIRECT Trustee or director | 0.02 | $0 | $0 | $0 |
| PETER GRAVES | BOARD DIRECT Trustee or director | 0.02 | $0 | $0 | $0 |
| BRIAN SHERIDAN | BOARD DIRECT Trustee or director | 0.02 | $0 | $0 | $0 |
| THOMAS VEAR | BOARD DIRECT Trustee or director | 0.02 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 101 W WASHINGTON ST STE 9, MARQUETTE, MI 49855-4407
- In care of
- % DENNIS WEST
- Mailing address (990-N for 2014)
- PO Box 7009, Marquette MI 49855
- Principal officer (990 for 2024)
- ELIZABETH SANGALLI, 101 W WASHINGTON STREET, MARQUETTE, MI 49855
- Principal officer (990-N for 2014)
- Dennis West, PO Box 7009, Marquette MI 49855
- Signed the 990
- ELIZABETH SANGALLI, PRESIDENT, BRD CHAIR
- Phone
- (906) 228-5571
- Website
- www.northerninitiatives.org
- Return prepared by
- ANDREWS HOOPER PAVLIK PLC
Mission
TO PROVIDE TAILORED BUSINESS SOLUTIONS TO ADVANCE AND CONNECT RURAL ECONOMIES AND THEIR COMMUNITIES.
Program accomplishments
- PROVIDED AFFORDABLE ACCESS TO CAPITAL TO RURAL UNDERSERVED MARKETS FROM THE CORPORATION'S REVOLVING LOAN FUND.Expenses $32,550 · revenue $20,193
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 45-2471096
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2011
- Accounting year ends
- December
- Files
- Form 990-N (e-Postcard)
- Category (NTEE)
- Community improvement and capacity building (S40)
- Assets (IRS master file)
- $509,955
- Income (IRS master file)
- $20,354
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $20,354 | $54,301 | $509,955 | XML |
| 990 | December 2023 | $22,355 | $46,592 | $604,836 | XML |
| 990 | December 2022 | $35,049 | $48,790 | $679,908 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990-N for 2014 Officer: Dennis West | December 31, 2014 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 45-2471096).
Questions about UP BUSINESS CAPITAL
- What is the EIN of UP BUSINESS CAPITAL?
- The employer identification number (EIN) of UP BUSINESS CAPITAL is 45-2471096.
- Is UP BUSINESS CAPITAL tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2011.
- Are donations to UP BUSINESS CAPITAL tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does UP BUSINESS CAPITAL file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of UP BUSINESS CAPITAL due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did UP BUSINESS CAPITAL last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of UP BUSINESS CAPITAL?
- The 990 for the year ended December 31, 2024 names ELIZABETH SANGALLI.
- Who are the officers and directors of UP BUSINESS CAPITAL?
- The 990 for the year ended December 31, 2024 lists 10 people; 0 received compensation from the organization.
- How much revenue does UP BUSINESS CAPITAL have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $20,354, expenses of $54,301 and total assets of $509,955 at year end.
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