Civic Intelligence

Michigan Tech Fund

990 • Fiscal year 2023 • EIN 38-1554664

Jul 01, 2022 to Jun 30, 2023 • Filed on May 15, 2024

Organization Profilewww.mtu.edu/giving

View Organization Page

1400 Townsend DriveHoughton, MI 49931

(906) 487-1931

Siviq Scores

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

Liabilities / Assets

24th percentile

0.07x

Higher debt load relative to assets than 24% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Liabilities / Revenue

65th percentile

0.79x

Higher debt load relative to revenue than 65% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Net Margin

86th percentile

29%

Higher net margin than 86% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Top Officer Pay

5th percentile

$0

Higher top officer pay than 5% of similar nonprofits.

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

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Asset Growth

48th percentile

5.5%

Faster asset growth than 48% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Revenue Growth

23rd percentile

-10%

Faster revenue growth than 23% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets24th percentile

Assets

Up

$222,223,366

Up $11,634,652 (+5.5%) from 2022

Net Assets

Up

$205,920,617

Up $12,041,345 (+6.2%) from 2022

Liabilities

Down

$16,302,749

Down $406,693 (-2.4%) from 2022

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin86th percentile

Revenue

Down

$20,705,355

Down $2,312,490 (-10%) from 2022

Expenses

Down

$14,627,996

Down $1,238,547 (-7.8%) from 2022

Net Income

Down

$6,077,359

Down $1,073,943 (-15%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth48th percentile

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

$300M$200M$100M$0Assets 2011: $113,274,597Liabilities 2011: $5,935,551Net Assets 2011: $107,339,0462011Assets 2012: $109,960,306Liabilities 2012: $5,180,845Net Assets 2012: $104,779,4612012Assets 2013: $119,837,134Liabilities 2013: $4,946,569Net Assets 2013: $114,890,5652013Assets 2014: $128,602,262Liabilities 2014: $5,599,112Net Assets 2014: $123,003,1502014Assets 2015: $130,895,429Liabilities 2015: $5,838,662Net Assets 2015: $125,056,7672015Assets 2016: $134,171,601Liabilities 2016: $5,764,685Net Assets 2016: $128,406,9162016Assets 2017: $144,405,065Liabilities 2017: $7,255,647Net Assets 2017: $137,149,4182017Assets 2018: $154,522,438Liabilities 2018: $6,849,177Net Assets 2018: $147,673,2612018Assets 2019: $157,527,890Liabilities 2019: $7,122,177Net Assets 2019: $150,405,7132019Assets 2020: $159,622,685Liabilities 2020: $5,927,623Net Assets 2020: $153,695,0622020Assets 2021: $217,061,508Liabilities 2021: $17,967,238Net Assets 2021: $199,094,2702021Assets 2022: $210,588,714Liabilities 2022: $16,709,442Net Assets 2022: $193,879,2722022Assets 2023: $222,223,366Liabilities 2023: $16,302,749Net Assets 2023: $205,920,6172023Assets 2024: $238,523,751Liabilities 2024: $16,928,381Net Assets 2024: $221,595,3702024

Highlighted filing

2023

Assets$222,223,366
Liabilities$16,302,749
Net Assets$205,920,617
Open 2023 Filing

Operations Trend

Revenue Growth23rd percentile

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

$60M$40M$20M$0Revenue 2011: $20,934,675Expenses 2011: $15,671,025Net Income 2011: $5,263,6502011Revenue 2012: $19,329,005Expenses 2012: $16,219,717Net Income 2012: $3,109,2882012Revenue 2013: $23,670,986Expenses 2013: $14,677,559Net Income 2013: $8,993,4272013Revenue 2014: $16,530,540Expenses 2014: $16,512,539Net Income 2014: $18,0012014Revenue 2015: $26,687,385Expenses 2015: $19,555,787Net Income 2015: $7,131,5982015Revenue 2016: $24,864,870Expenses 2016: $16,757,980Net Income 2016: $8,106,8902016Revenue 2017: $18,573,622Expenses 2017: $15,739,032Net Income 2017: $2,834,5902017Revenue 2018: $21,591,954Expenses 2018: $16,055,654Net Income 2018: $5,536,3002018Revenue 2019: $26,937,297Expenses 2019: $15,557,005Net Income 2019: $11,380,2922019Revenue 2020: $15,450,374Expenses 2020: $15,132,307Net Income 2020: $318,0672020Revenue 2021: $42,674,434Expenses 2021: $12,119,429Net Income 2021: $30,555,0052021Revenue 2022: $23,017,845Expenses 2022: $15,866,543Net Income 2022: $7,151,3022022Revenue 2023: $20,705,355Expenses 2023: $14,627,996Net Income 2023: $6,077,3592023Revenue 2024: $27,066,650Expenses 2024: $20,325,951Net Income 2024: $6,740,6992024

Highlighted filing

2023

Revenue$20,705,355
Expenses$14,627,996
Net Income$6,077,359
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 15, 2024
Return Version
2022v5.0
Gross Receipts
$49,049,200
Mission and Program Overview

Mission

Receives, invests, and disburse contributions raised to support Michigan Technological University.

Receives, invests, and disburses contributions raised to support Michigan Technological University.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$122,049,547$126,811,692▲ $4,762,145
Investments Other Securities$49,765,647$55,324,326▲ $5,558,679
Pledges and Grants Receivable$19,068,420$19,227,172▲ $158,752
Savings and Temporary Cash Investments$10,225,371$11,841,663▲ $1,616,292
Cash and Non-Interest-Bearing Accounts$2,222$2,222→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0--
Land, Buildings, and Equipment, Net$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$210,588,714$222,223,366▲ $11,634,652
Other Assets Total$9,477,507$9,016,291▼ $461,216
Liabilities
Other Liabilities$16,416,477$16,284,028▼ $132,449
Accounts Payable and Accrued Expenses$292,965$18,721▼ $274,244
Total Liabilities$16,709,442$16,302,749▼ $406,693
Net Assets / Fund Balance
Net Assets With Donor Restrictions$184,690,063$196,003,847▲ $11,313,784
Net Assets Without Donor Restrictions$9,189,209$9,916,770▲ $727,561
Total Net Assets Fund Balance$193,879,272$205,920,617▲ $12,041,345
Total Liabilities and Net Assets / Fund Balance$210,588,714$222,223,366▲ $11,634,652

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$2,330,624--
Closely Held Equity Interests$20,000--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$147,630,662$5,650,768▲ $8,204,280$1,118,048$155,891,037
2022$151,519,725$7,571,242▼ $5,265,420$1,417,523$147,630,662
2021$117,623,889$9,069,630▲ $29,326,931$744,767$151,519,725
2020$113,644,897$5,467,724▲ $3,973,130$558,500$117,623,889
2019$115,253,684$2,647,675▲ $1,883,079$971,680$113,644,897
Compensation and Service Providers
Top Officer Pay5th percentile

Board Members and Trustees

NameTitle
-Chair
-President
-Vice President
-Director
-Secretary
-Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$16,284,778
Program Service Revenue
$0
Investment Income
$4,301,965
Other Revenue
$118,612
All Other Contributions
$16,284,778
Change in Net Assets
$6,077,359

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table56$1,221,346Opinions of experts
Securities Publicly Traded47$910,500Other - Quoted price on established exchange
Total Noncash Contributions103$2,131,846-

Audited Revenue Reconciliation

Revenue per Audited Statements
$20,219,799
Revenue Not Reported on Financial Statements
$485,556
Revenue Not Reported on Form 990
$5,963,986
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$26,183,785
Total Revenue per Form 990
$20,705,355
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$13,689,913
Other Expenses$938,083
Total Fundraising Expense$65,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$13,689,913--$13,689,913
Fees for Service Investment Mgmnt Fees-$485,556-$485,556
Fees for Services Other$0$366,620$0$366,620
Office Expenses-$20,907$65,000$85,907
Total Functional Expenses$13,689,913$873,083$65,000$14,627,996

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$14,627,996
Expenses per Audited Statements$14,142,440
Total Expenses per Audited Statements$14,142,440
Expenses Not Reported on Financial Statements$485,556
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Michigan Technological UniversityHoughton, MI115(a)support programs$12,468,567
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
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
Deferred inflows$11,070,270
Annuity obligations$4,675,418
Pooled income obligations$538,340
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

“The business and affairs of the Michigan Tech Fund are managed by a board of ten Directors, consisting of three individuals appointed from the Michigan Technological University's Board of Trustees, the President of the University, the Chief Financial Officer, the Vice President for Advancement, and four at-large members.”

Form 990, Part VI, Line 11B Review of form 990 by governing body

“The Board does not review form 990. They are aware that it is available upon request.”

Form 990, Part VI, Line 19 Required documents available to the public

“The Michigan Tech Fund posts it's policy manual and it's audited financial statements on it's website.”

Filing and Contact Details

Filer

Filer Name
Michigan Tech Fund
EIN
38-1554664
Phone
9064871931
Address
1400 Townsend Drive, Houghton, MI 49931

Signing Officer

Name
Julie Seppala
Title
Treasurer
Phone
9064872642
Signed
2024-05-15

Organization Details

Formed
1965
Legal Domicile
Mi
Voting Board Members
10
Independent Board Members
4
Employees
0
Volunteers
15
Supplemental Narrative

Financial Statement Notes

Schedule D, Part V, Line 4 Intended uses of endowment funds

“The Michigan Tech Fund uses its endowment funds to award financial aid to Michigan Technological University students and to provide support to other University programs.”

Raw XML AppendixShowing 400 of 550 raw XML fields

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

Path#Value
IRS990/AccountantCompileOrReviewInd0false
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt0292965
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt018721
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0Receives, invests, and disburses contributions raised to support Michigan Technological University.
IRS990/AllOtherContributionsAmt016284778
IRS990/AllOtherExpensesGrp/FundraisingAmt00
IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt00
IRS990/AllOtherExpensesGrp/ProgramServicesAmt00
IRS990/AllOtherExpensesGrp/TotalAmt00
IRS990/AnnualDisclosureCoveredPrsnInd0false
IRS990/AuditCommitteeInd0true
IRS990/BackupWthldComplianceInd0true
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0Julie Seppala
IRS990/BooksInCareOfDetail/PhoneNum09064872642
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt01400 Townsend Drive
IRS990/BooksInCareOfDetail/USAddress/CityNm0Houghton
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MI
IRS990/BooksInCareOfDetail/USAddress/ZIPCd049931
IRS990/BusinessRlnWith35CtrlEntInd0false
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CashNonInterestBearingGrp/BOYAmt02222
IRS990/CashNonInterestBearingGrp/EOYAmt02222
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd0false
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0false
IRS990/CompensationProcessOtherInd0false
IRS990/ConflictOfInterestPolicyInd0true
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0true
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt016284778
IRS990/CYGrantsAndSimilarPaidAmt013689913
IRS990/CYInvestmentIncomeAmt04301965
IRS990/CYOtherExpensesAmt0938083
IRS990/CYOtherRevenueAmt0118612
IRS990/CYProgramServiceRevenueAmt00
IRS990/CYRevenuesLessExpensesAmt06077359
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt014627996
IRS990/CYTotalFundraisingExpenseAmt065000
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt020705355
IRS990/DecisionsSubjectToApprovaInd0false
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0true
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/Desc0The Michigan Tech Fund provides financial support to all Michigan Technological University's academic units and to its infrastructure.
IRS990/DescribedInSection501c3Ind0true
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0true
IRS990/DonorAdvisedFundInd0false
IRS990/DonorRestrictionNetAssetsGrp/BOYAmt0184690063
IRS990/DonorRestrictionNetAssetsGrp/EOYAmt0196003847
IRS990/DonorRstrOrQuasiEndowmentsInd0true
IRS990/ElectionOfBoardMembersInd0true
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd0false
IRS990/ExpenseAmt010122012
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FederalGrantAuditRequiredInd0false
IRS990/FeesForServicesOtherGrp/FundraisingAmt00
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt0366620
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt00
IRS990/FeesForServicesOtherGrp/TotalAmt0366620
IRS990/FeesForSrvcInvstMgmntFeesGrp/ManagementAndGeneralAmt0485556
IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt0485556
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignOfficeInd0false
IRS990/Form8282PropertyDisposedOfInd0false
IRS990/Form8899Filedind0false
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt0Richard Koubek
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt1William Roberts
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt2David Reed
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt3James Parm
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt4Jeffrey Littmann
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt5Jon Jipping
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt6Karl LaPeer
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt7Matthew Johnson
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt8Michael Pulick
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt9Robert Tripp
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt10Julie Seppala
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt11Karla Aho
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd9X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/TitleTxt0President
IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt11Secretary
IRS990/Form990ProvidedToGvrnBodyInd0false
IRS990/FormationYr01965
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GainOrLossGrp/OtherAmt00
IRS990/GainOrLossGrp/SecuritiesAmt0916536
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt010
IRS990/GrantAmt010122012
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt013689913
IRS990/GrantsToDomesticOrgsGrp/TotalAmt013689913
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0true
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt029260381
IRS990/GrossReceiptsAmt049049200
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt04
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InvestmentIncomeGrp/ExclusionAmt03385429
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt03385429
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt049765647
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt055324326
IRS990/InvestmentsProgramRelatedGrp/BOYAmt00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt0122049547
IRS990/InvestmentsPubTradedSecGrp/EOYAmt0126811692
IRS990/IRPDocumentCnt040
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt00
IRS990/LandBldgEquipBasisNetGrp/BOYAmt00
IRS990/LandBldgEquipBasisNetGrp/EOYAmt00
IRS990/LandBldgEquipCostOrOtherBssAmt00
IRS990/LegalDomicileStateCd0MI
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt028343845
IRS990/LoanOutstandingInd0false
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt00
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt00
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MiscellaneousRevenueGrp/ExclusionAmt00
IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt00
IRS990/MiscellaneousRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/MissionDesc0Receives, invests, and disburse contributions raised to support Michigan Technological University.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0193879272
IRS990/NetAssetsOrFundBalancesEOYAmt0205920617
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0916536
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0916536
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt05963986
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt09189209
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt09916770
IRS990/NoncashContributionsAmt02131846
IRS990/NondeductibleContributionsInd0true
IRS990/NondeductibleContriDisclInd0true
IRS990/OfficeExpensesGrp/FundraisingAmt065000
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt020907
IRS990/OfficeExpensesGrp/TotalAmt085907
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt09477507
IRS990/OtherAssetsTotalGrp/EOYAmt09016291
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherLiabilitiesGrp/BOYAmt016416477
IRS990/OtherLiabilitiesGrp/EOYAmt016284028
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0Miscellaneous
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0118612
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0118612
IRS990/OtherRevenueTotalAmt0118612
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt019068420
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt019227172
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0Julie Seppala
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgSrvcAccomActy2Grp/Desc0The Michigan Tech Fund awards approximately 1,000 scholarships and fellowships to Michigan Technological University.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt03567901
IRS990/ProgSrvcAccomActy2Grp/GrantAmt03567901
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt017259222
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt014873381
IRS990/PYInvestmentIncomeAmt05648230
IRS990/PYOtherExpensesAmt0993162
IRS990/PYOtherRevenueAmt0110393
IRS990/PYRevenuesLessExpensesAmt07151302
IRS990/PYTotalExpensesAmt015866543
IRS990/PYTotalRevenueAmt023017845
IRS990/QuidProQuoContributionsInd0true
IRS990/QuidProQuoContriDisclInd0true
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt06077359
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt010225371
IRS990/SavingsAndTempCashInvstGrp/EOYAmt011841663
IRS990ScheduleA/CollegeOrganizationInd0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt016284778
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt017259222
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt034977235
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt012761242
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt014610300
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt095892777
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt03385429
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt02554135
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt02218131
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt02791232
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt02959819
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt013908746
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicSupportCY170Pct00.8232
IRS990ScheduleA/PublicSupportPY170Pct00.7970
IRS990ScheduleA/PublicSupportTotal170Amt090384264
IRS990ScheduleA/SubstantialContributorsTotAmt05508513
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt016284778
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt017259222
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt034977235
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt012761242
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt014610300
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt095892777
IRS990ScheduleA/TotalSupportAmt0109801523
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.0
IRS990ScheduleD/CloselyHeldEquityInterestsGrp/BookValueAmt020000
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt02697240
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0147630662
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt05650768
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0155891037
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt01779385
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt08204280
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt01118048
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt02952085
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt0151519725
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt07571242
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0147630662
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt01825277
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-5265420
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt01417523
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt02514502
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt0117623889
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt09069630
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0151519725
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt01241456
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt029326931
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt0744767
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt03481195
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt0113644897
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt05467724
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt0117623889
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt01422167
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt03973130
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt0558500
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt03421544
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt0115253684
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt02647675
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt0113644897
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt01746317
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01883079
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt0971680
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0485556
IRS990ScheduleD/ExpensesSubtotalAmt014142440
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt0485556
IRS990ScheduleD/InvestmentExpensesNotIncldAmt0485556
IRS990ScheduleD/NetUnrealizedGainsInvstAmt05963986
IRS990ScheduleD/OtherExpensesIncludedAmt00
IRS990ScheduleD/OtherExpensesNotIncludedAmt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04675418
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1538340
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt211070270
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Annuity obligations
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Pooled income obligations
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Deferred inflows
IRS990ScheduleD/OtherRevenueAmt00
IRS990ScheduleD/OtherRevenuesNotIncludedAmt00
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt010300610
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt114117572
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt228555520
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt32330624
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Hedge funds
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Real estate and natural resources
IRS990ScheduleD/OtherSecuritiesGrp/Desc2Private equity
IRS990ScheduleD/OtherSecuritiesGrp/Desc3Global credit
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct01.0
IRS990ScheduleD/RevenueNotReportedAmt05963986
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0485556
IRS990ScheduleD/RevenueSubtotalAmt020219799
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Michigan Tech Fund uses its endowment funds to award financial aid to Michigan Technological University students and to provide support to other University programs.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part V, Line 4 Intended uses of endowment funds
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.0
IRS990ScheduleD/TotalBookValueSecuritiesAmt055324326
IRS990ScheduleD/TotalExpensesPerForm990Amt014627996
IRS990ScheduleD/TotalLiabilityAmt016284028
IRS990ScheduleD/TotalRevenuePerForm990Amt020705355
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt026183785
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt014142440
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt012468567
IRS990ScheduleI/RecipientTable/IRCSectionDesc0115(a)

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$222,223,366
Liabilities
$16,302,749
Net assets
$205,920,617
Revenue
$20,705,355
Expenses
$14,627,996
Net income
$6,077,359
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$239$16.9$222$27.1$20.3$6.74
2023Detailed filing. Detailed filing data is available for this year.$222$16.3$206$20.7$14.6$6.08
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$211$16.7$194$23.0$15.9$7.15
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$217$18.0$199$42.7$12.1$30.6
2020Summary only. Only limited summary data is available for this year.$160$5.93$154$15.5$15.1$0.32
2019Summary only. Only limited summary data is available for this year.$158$7.12$150$26.9$15.6$11.4
2018Summary only. Only limited summary data is available for this year.$155$6.85$148$21.6$16.1$5.54
2017Summary only. Only limited summary data is available for this year.$144$7.26$137$18.6$15.7$2.83
2016Summary only. Only limited summary data is available for this year.$134$5.76$128$24.9$16.8$8.11
2015Summary only. Only limited summary data is available for this year.$131$5.84$125$26.7$19.6$7.13
2014Summary only. Only limited summary data is available for this year.$129$5.60$123$16.5$16.5$0.02
2013Summary only. Only limited summary data is available for this year.$120$4.95$115$23.7$14.7$8.99
2012Summary only. Only limited summary data is available for this year.$110$5.18$105$19.3$16.2$3.11
2011Summary only. Only limited summary data is available for this year.$113$5.94$107$20.9$15.7$5.26