Civic Intelligence

Venture Michigan Fund

990 • Fiscal year 2018 • EIN 20-1443645

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 15, 2019

Organization Profilewww.venturemichigan.com
767 Fifth Avenue 14th FloorNew York, NY 10153

(646) 362-3700

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

83rd percentile

0.74x

Higher debt load relative to assets than 83% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Liabilities / Revenue

98th percentile

22.52x

Higher debt load relative to revenue than 98% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Net Margin

1st percentile

-88%

Higher net margin than 1% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Top Officer Pay

2nd percentile

$0

Higher top officer pay than 2% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Asset Growth

36th percentile

1.0%

Faster asset growth than 36% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Revenue Growth

15th percentile

-6.2%

Faster revenue growth than 15% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$359,734,507

Up $3,498,746 (+1.0%) from 2017

Net Assets

Up

$92,930,618

Up $19,506,080 (+27%) from 2017

Liabilities

Down

$266,803,889

Down $16,007,334 (-5.7%) from 2017

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin1st percentile

Revenue

Down

$11,849,180

Down $778,085 (-6.2%) from 2017

Expenses

Down

$22,309,563

Down $168,261 (-0.7%) from 2017

Net Income

Down

-$10,460,383

Down $609,824 (-6.2%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth36th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600M$400M$200M$0-$200MAssets 2010: $159,691,032Liabilities 2010: $203,629,349Net Assets 2010: -$43,938,3172010Assets 2011: $182,412,898Liabilities 2011: $246,477,474Net Assets 2011: -$64,064,5762011Assets 2012: $264,209,270Liabilities 2012: $335,555,323Net Assets 2012: -$71,346,0532012Assets 2013: $263,380,122Liabilities 2013: $360,575,551Net Assets 2013: -$97,195,4292013Assets 2014: $281,044,287Liabilities 2014: $403,646,015Net Assets 2014: -$122,601,7282014Assets 2015: $352,566,089Liabilities 2015: $349,776,221Net Assets 2015: $2,789,8682015Assets 2016: $364,722,390Liabilities 2016: $371,611,986Net Assets 2016: -$6,889,5962016Assets 2017: $356,235,761Liabilities 2017: $282,811,223Net Assets 2017: $73,424,5382017Assets 2018: $359,734,507Liabilities 2018: $266,803,889Net Assets 2018: $92,930,6182018Assets 2019: $343,074,204Liabilities 2019: $266,618,291Net Assets 2019: $76,455,9132019Assets 2020: $423,885,343Liabilities 2020: $210,242,481Net Assets 2020: $213,642,8622020Assets 2021: $479,759,499Liabilities 2021: $73,663,491Net Assets 2021: $406,096,0082021Assets 2022: $339,849,528Liabilities 2022: $10,914,646Net Assets 2022: $328,934,8822022Assets 2023: $254,515,626Liabilities 2023: $5,769,503Net Assets 2023: $248,746,1232023Assets 2024: $255,676,228Liabilities 2024: $4,209,438Net Assets 2024: $251,466,7902024

Highlighted filing

2018

Assets$359,734,507
Liabilities$266,803,889
Net Assets$92,930,618
Open 2018 Filing

Operations Trend

Revenue Growth15th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$150M$100M$50M$0-$50MExpenses 2010: $14,797,2272010Expenses 2011: $20,976,9032011Expenses 2012: $25,234,2852012Revenue 2013: $3,752,031Expenses 2013: $28,079,501Net Income 2013: -$24,327,4702013Revenue 2014: -$1,135,273Expenses 2014: $39,147,447Net Income 2014: -$40,282,7202014Revenue 2015: $5,969,421Expenses 2015: $33,501,972Net Income 2015: -$27,532,5512015Revenue 2016: $8,546,299Expenses 2016: $29,168,105Net Income 2016: -$20,621,8062016Revenue 2017: $12,627,265Expenses 2017: $22,477,824Net Income 2017: -$9,850,5592017Revenue 2018: $11,849,180Expenses 2018: $22,309,563Net Income 2018: -$10,460,3832018Revenue 2019: $18,161,323Expenses 2019: $21,246,592Net Income 2019: -$3,085,2692019Revenue 2020: $78,875,591Expenses 2020: $18,403,439Net Income 2020: $60,472,1522020Revenue 2021: $100,484,897Expenses 2021: $18,483,171Net Income 2021: $82,001,7262021Revenue 2022: $26,346,078Expenses 2022: $2,196,899Net Income 2022: $24,149,1792022Revenue 2023: $11,679,447Expenses 2023: $1,499,758Net Income 2023: $10,179,6892023Revenue 2024: $30,782,882Expenses 2024: $1,790,345Net Income 2024: $28,992,5372024

Highlighted filing

2018

Revenue$11,849,180
Expenses$22,309,563
Net Income-$10,460,383
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 15, 2019
Return Version
2018v3.1
Gross Receipts
$11,849,180
Mission and Program Overview

Mission

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$245,618,144$281,722,899▲ $36,104,755
Savings and Temporary Cash Investments$82,831,571$66,303,645▼ $16,527,926
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$356,235,761$359,734,507▲ $3,498,746
Other Assets Total$27,786,046$11,707,963▼ $16,078,083
Liabilities
Mortgage Notes Payable Secured by Investment Property$250,000,000$250,000,000→ $0
Other Liabilities$32,713,653$16,708,978▼ $16,004,675
Accounts Payable and Accrued Expenses$97,570$94,911▼ $2,659
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$282,811,223$266,803,889▼ $16,007,334
Net Assets / Fund Balance
Unrestricted Net Assets$73,424,538$92,930,618▲ $19,506,080
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$73,424,538$92,930,618▲ $19,506,080
Total Liabilities and Net Assets / Fund Balance$356,235,761$359,734,507▲ $3,498,746

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$216,275,469--
Compensation and Service Providers
Top Officer Pay2nd percentile

Board Members and Trustees

NameTitle
No CompensationN/a
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$2,861,133
Other Revenue
$8,988,047
Change in Net Assets
$-10,460,383

Audited Revenue Reconciliation

Revenue per Audited Statements
$990,086
Revenue Not Reported on Financial Statements
$10,859,093
Revenue Not Reported on Form 990
$37,001,040
Other Revenue Adjustments
$10,859,093
Total Revenue per Audited Statements
$37,991,126
Total Revenue per Form 990
$11,849,179
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$22,309,563
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$18,417,117--$18,417,117
Fees for Services Legal-$106,554$0$106,554
Insurance-$20,767-$20,767
Other Expenses$15--$15
Total Functional Expenses$22,182,242$127,321$0$22,309,563

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$22,309,563
Expenses per Audited Statements$18,485,047
Total Expenses per Audited Statements$18,485,047
Expenses Not Reported on Financial Statements$3,824,516
Other Expense Adjustments$3,824,516
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Swap Contract$11,707,963
Accrued Interest Payable on No$4,425,972
Minority Interest$575,043
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B:

“The organization did not hold any meetings that would require a committee to act on behalf of the governing body.”

Form 990, Part VI, Section B, Line 11B:

“Form 990 Review Process: KPMG LLP prepared form 990. It was then submitted to the organization's key officers for review and signature before the form was filed.”

Form 990, Part VI, Section C, Line 19:

“The organization's governing documents and financial statements are available to the public upon request only.”

Filing and Contact Details

Filer

Filer Name
Venture Michigan Fund
EIN
20-1443645
In Care Of
% L LAYNE GLUNT
Phone
6463623700
Address
767 Fifth Avenue 14th Floor, NEW YORK, NY 10153

Signing Officer

Name
L Layne Glunt
Title
Authorized Signatory
Phone
6463623700
Signed
2019-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
L Layne Glunt
Formed
2004
Legal Domicile
Mi
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Kpmg Llp
Address
150 John F Kennedy Parkway, Short Hills, NJ 07078
Preparer
danielle d'aloia
Phone
9734679650
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1, Description of organization mission:

“To raise capital and invest that capital in venture capital firms with the intent to benefit the state of Michigan's early or seed stage businesses.”

Form 990, Part III, Line 1, Description of organization mission:

“The fund was formed as a non-profit, non-stock corporation for the purpose of qualifying as a michigan early stage investment corporation within the meaning of act no. 296 of the michigan public acts of 2003. The fund was organized to raise capital and invest that capital in venture capital funds with the goal of generating a strong internal rate of return and to promote the economic health of the state Michigan by assisting in the creation of jobs, new businesses, and new industries within the state through the investment in early and seed stage businesses.”

Financial Statement Notes

Part XI, Line 4B - Other Adjustments:

“Revenue from Limited Partnerships: $ 10,859,093”

Part XII, Line 4B - Other Adjustments:

“Expenses from Pass-throughs: 3,824,516”

Part XI, Line 4B:

“Amount is the revenue from investments in limited partnerships reported on k-1s received from limited partnerships.”

Part XII, Line 4B:

“Amount represents deductions from investments in limited partnerships reported on K-1s received from limited partnerships.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-9850559
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt022477824
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt012627265
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-10460383
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0true
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0true
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt01108
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt02216
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt01108
IRS990/SavingsAndTempCashInvstGrp/BOYAmt082831571
IRS990/SavingsAndTempCashInvstGrp/EOYAmt066303645
IRS990ScheduleA/GovernmentalUnitInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt03824516
IRS990ScheduleD/ExpensesSubtotalAmt018485047
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt065447430
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1216275469
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVESTMENT IN VMF I, LP
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1INVESTMENT IN VMF II, LP
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0F
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1F
IRS990ScheduleD/NetUnrealizedGainsInvstAmt037001040
IRS990ScheduleD/OtherExpensesNotIncludedAmt03824516
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04425972
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt111707963
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2575043
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTEREST PAYABLE ON NO
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SWAP CONTRACT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2MINORITY INTEREST
IRS990ScheduleD/OtherRevenuesNotIncludedAmt010859093
IRS990ScheduleD/RevenueNotReportedAmt037001040
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt010859093
IRS990ScheduleD/RevenueSubtotalAmt0990086
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Revenue from Limited Partnerships: $ 10,859,093
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Expenses from Pass-throughs: 3,824,516
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Amount is the revenue from investments in limited partnerships reported on k-1s received from limited partnerships.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3Amount represents deductions from investments in limited partnerships reported on K-1s received from limited partnerships.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XI, Line 4B - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XII, Line 4B - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XI, Line 4B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3Part XII, Line 4B:
IRS990ScheduleD/TotalBookValueProgramRltdAmt0281722899
IRS990ScheduleD/TotalExpensesPerForm990Amt022309563
IRS990ScheduleD/TotalLiabilityAmt016708978
IRS990ScheduleD/TotalRevenuePerForm990Amt011849179
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt037991126
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt018485047
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0To raise capital and invest that capital in venture capital firms with the intent to benefit the state of Michigan's early or seed stage businesses.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The fund was formed as a non-profit, non-stock corporation for the purpose of qualifying as a michigan early stage investment corporation within the meaning of act no. 296 of the michigan public acts of 2003. The fund was organized to raise capital and invest that capital in venture capital funds with the goal of generating a strong internal rate of return and to promote the economic health of the state Michigan by assisting in the creation of jobs, new businesses, and new industries within the state through the investment in early and seed stage businesses.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization did not hold any meetings that would require a committee to act on behalf of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Form 990 Review Process: KPMG LLP prepared form 990. It was then submitted to the organization's key officers for review and signature before the form was filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The organization's governing documents and financial statements are available to the public upon request only.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part I, Line 1, Description of organization mission:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part III, Line 1, Description of organization mission:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, Line 8B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 11B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19:
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0true
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0true
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt1NA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd0false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd1false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN0205038329
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN1274498166
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd0MI
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd1MI
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/OwnershipPct00.99800
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/OwnershipPct10.99800
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt1INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0VENTURE MICHIGAN FUND I LP
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt1VENTURE MICHIGAN FUND II LP
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/UBICodeVAmt0-13772
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/UBICodeVAmt1-46251
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt0767 Fifth Avenue 14th Floor
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt1767 Fifth Avenue 14th Floor
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0NEW YORK
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm1NEW YORK
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd1NY
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd010153
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd110153
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0true
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0168765
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt12320159
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt2232483
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt35386252
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt4521898
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt59303658
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt6284371
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt77207259
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0K-1 Received
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1K-1 Received
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2K-1 Received
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt3K-1 Received
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt4K-1 Received
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt5K-1 Received
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt6K-1 Received
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt7K-1 Received
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0VENTURE MICHIGAN FUND I LP
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1VENTURE MICHIGAN FUND I LP
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2VENTURE MICHIGAN FUND I LP
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt3Venture Michigan Fund I LP
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt4VENTURE MICHIGAN FUND II LP
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt5VENTURE MICHIGAN FUND II LP
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt6VENTURE MICHIGAN FUND II LP
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt7VENTURE MICHIGAN FUND II LP
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0A
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1B
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt2F
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt3S
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt4A
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt5B
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt6F
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt7S
IRS990ScheduleR/TransferFromOtherOrgInd0true
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/StatesWhereCopyOfReturnIsFldCd1IL
IRS990/StatesWhereCopyOfReturnIsFldCd2MI
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt00
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt00
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt00
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0356235761
IRS990/TotalAssetsEOYAmt0359734507
IRS990/TotalAssetsGrp/BOYAmt0356235761
IRS990/TotalAssetsGrp/EOYAmt0359734507
IRS990/TotalCompGreaterThan150KInd0false

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$359,734,507
Liabilities
$266,803,889
Net assets
$92,930,618
Revenue
$11,849,180
Expenses
$22,309,563
Net income
-$10,460,383
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$256$4.21$251$30.8$1.79$29.0
2023Detailed filing. Detailed filing data is available for this year.$255$5.77$249$11.7$1.50$10.2
2022Detailed filing. Detailed filing data is available for this year.$340$10.9$329$26.3$2.20$24.1
2021Detailed filing. Detailed filing data is available for this year.$480$73.7$406$100$18.5$82.0
2020Detailed filing. Detailed filing data is available for this year.$424$210$214$78.9$18.4$60.5
2019Detailed filing. Detailed filing data is available for this year.$343$267$76.5$18.2$21.2$3.09
2018Detailed filing. Detailed filing data is available for this year.$360$267$92.9$11.8$22.3$10.5
2017Detailed filing. Detailed filing data is available for this year.$356$283$73.4$12.6$22.5$9.85
2016Detailed filing. Detailed filing data is available for this year.$365$372$6.89$8.55$29.2$20.6
2015Summary only. Only limited summary data is available for this year.$353$350$2.79$5.97$33.5$27.5
2014Detailed filing. Detailed filing data is available for this year.$281$404$123$1.14$39.1$40.3
2013Summary only. Only limited summary data is available for this year.$263$361$97.2$3.75$28.1$24.3
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$264$336$71.3$25.2
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$182$246$64.1$21.0
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$160$204$43.9$14.8