Civic Intelligence

Michigan Tech Fund

990 • Fiscal year 2024 • EIN 38-1554664

Jul 01, 2023 to Jun 30, 2024 • Filed on May 15, 2025

Organization Profilewww.mtu.edu/giving

View Organization Page

1400 Townsend DriveHoughton, MI 49931

(906) 487-2642

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.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

61st percentile

0.63x

Higher debt load relative to revenue than 61% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

81st percentile

25%

Higher net margin than 81% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

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.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Asset Growth

54th percentile

7.3%

Faster asset growth than 54% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

82nd percentile

31%

Faster revenue growth than 82% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets24th percentile

Assets

Up

$238,523,751

Up $16,300,385 (+7.3%) from 2023

Net Assets

Up

$221,595,370

Up $15,674,753 (+7.6%) from 2023

Liabilities

Up

$16,928,381

Up $625,632 (+3.8%) from 2023

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin81st percentile

Revenue

Up

$27,066,650

Up $6,361,295 (+31%) from 2023

Expenses

Up

$20,325,951

Up $5,697,955 (+39%) from 2023

Net Income

Up

$6,740,699

Up $663,340 (+11%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth54th 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

2024

Assets$238,523,751
Liabilities$16,928,381
Net Assets$221,595,370
Open 2024 Filing

Operations Trend

Revenue Growth82nd 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

2024

Revenue$27,066,650
Expenses$20,325,951
Net Income$6,740,699
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 15, 2025
Return Version
2023v6.0
Gross Receipts
$50,560,304
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$126,811,692$130,372,401▲ $3,560,709
Investments Other Securities$55,324,326$65,925,530▲ $10,601,204
Pledges and Grants Receivable$19,227,172$21,529,650▲ $2,302,478
Savings and Temporary Cash Investments$11,841,663$11,413,666▼ $427,997
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$222,223,366$238,523,751▲ $16,300,385
Other Assets Total$9,016,291$9,280,282▲ $263,991
Liabilities
Other Liabilities$16,284,028$16,656,284▲ $372,256
Accounts Payable and Accrued Expenses$18,721$272,097▲ $253,376
Total Liabilities$16,302,749$16,928,381▲ $625,632
Net Assets / Fund Balance
Net Assets With Donor Restrictions$196,003,847$210,893,614▲ $14,889,767
Net Assets Without Donor Restrictions$9,916,770$10,701,756▲ $784,986
Total Net Assets Fund Balance$205,920,617$221,595,370▲ $15,674,753
Total Liabilities and Net Assets / Fund Balance$222,223,366$238,523,751▲ $16,300,385

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$6,493,741--
Closely Held Equity Interests$20,000--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$155,891,037$6,546,860▲ $13,620,252$2,022,074$169,088,791
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
Compensation and Service Providers
Top Officer Pay5th percentile

Board Members and Trustees

NameTitle
Michael PulickChair
Richard KoubekPresident
William RobertsVice President
Brenda RyanDirector
James ParmDirector
Jeffrey LittmannDirector
Jon JippingDirector
Karl LaPeerDirector
Nicolas StevensDirector
Steve TomaszewskiDirector
Karla AhoSecretary
Julie SeppalaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$20,453,786
Program Service Revenue
$0
Investment Income
$6,523,211
Other Revenue
$89,653
All Other Contributions
$20,453,786
Change in Net Assets
$6,740,699

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
Securities Publicly Traded54$995,234Other - Quoted price on established exchange
Other Non Cash Contri Table58$430,003Opinions of experts
Total Noncash Contributions112$1,425,237-

Audited Revenue Reconciliation

Revenue per Audited Statements
$26,563,956
Revenue Not Reported on Financial Statements
$502,694
Revenue Not Reported on Form 990
$8,934,054
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$35,498,010
Total Revenue per Form 990
$27,066,650
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$19,479,935
Other Expenses$846,016
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$19,479,935--$19,479,935
Fees for Service Investment Mgmnt Fees-$502,694-$502,694
Fees for Services Other$0$327,505$0$327,505
Office Expenses-$15,817-$15,817
Total Functional Expenses$19,479,935$846,016$0$20,325,951

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$20,325,951
Expenses per Audited Statements$19,823,257
Total Expenses per Audited Statements$19,823,257
Expenses Not Reported on Financial Statements$502,694
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Michigan Tech UniversityHoughton, MI115(a)support programs$19,049,932
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
Yes
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$11,878,972
Annuity obligations$4,556,103
Pooled income obligations$221,209
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, and 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
9064872642
Address
1400 Townsend Drive, Houghton, MI 49931

Signing Officer

Name
Julie Seppala
Title
Treasurer
Phone
9064872642
Signed
2025-05-15

Organization Details

Formed
1965
Legal Domicile
Mi
Voting Board Members
10
Independent Board Members
4
Employees
0
Volunteers
13
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 571 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.

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IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0Advocate in support of the university's legislative purpose.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$238,523,751
Liabilities
$16,928,381
Net assets
$221,595,370
Revenue
$27,066,650
Expenses
$20,325,951
Net income
$6,740,699
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$239$16.9$222$27.1$20.3$6.74
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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
Peer Organizations

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