Southwest Michigan First Corp

Community development organization based in Kalamazoo, MI. 26 employees. Exempt under §501(c)(3).

MissionTHE 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

Financial snapshot · TY 2024

$6.8M
Total revenue
$6.0M
Total expenses
$9.2M
Net assets

Financial health · TY 2024

40
Financial health needs attention
Composite score out of 100 based on reserve ratio, program efficiency, and revenue diversification.
Reserve ratio
45
8.1 months of expenses
Program efficiency
37
64.7% spent on programs
Revenue diversity
38
Mix of program fees, grants & contributions

Leadership compensation

Jonas Peterson
CHIEF EXECUTIVE OFFICER
$575,497
98th percentile vs. peers
Jill Bland
EXECUTIVE VP-ECONOMIC DEVELOPMENT
$303,140
97th percentile vs. peers
Clarence Lloyd
VICE PRESIDENT
$170,030
97th percentile vs. peers
Abbie Rumery
VICE PRESIDENT
$166,140
97th percentile vs. peers
Michael Jensen
VP OF FINANCE AND OPERATIONS
$22,697
2th percentile vs. peers

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