Civic Intelligence

Michigan Future Inc.

990 • Fiscal year 2014 • EIN 38-3001180

Jul 01, 2013 to Jun 30, 2014 • Filed on Dec 12, 2014

PO Box 130416Ann Arbor, MI 48113-0416

(734) 747-8120

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.03x

Higher debt load relative to assets than 32% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

57th percentile

0.15x

Higher debt load relative to revenue than 57% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

1st percentile

-396%

Higher net margin than 1% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

98th percentile

$500,510

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 93.4% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

2nd percentile

-39%

Faster asset growth than 2% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

2nd percentile

-69%

Faster revenue growth than 2% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Assets

Down

$3,284,594

Down $2,129,312 (-39%) from 2013

Net Assets

Down

$3,201,731

Down $2,120,562 (-40%) from 2013

Liabilities

Down

$82,863

Down $8,750 (-9.6%) from 2013

Revenue

Down

$535,926

Down $1,182,036 (-69%) from 2013

Expenses

Down

$2,656,488

Down $1,749,280 (-40%) from 2013

Net Income

Up

-$2,120,562

Up $567,244 (+21%) from 2013

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2010: $12,035,067Liabilities 2010: $7,680Net Assets 2010: $12,027,3872010Assets 2011: $11,330,613Liabilities 2011: $31,512Net Assets 2011: $11,299,1012011Assets 2012: $8,078,672Liabilities 2012: $68,573Net Assets 2012: $8,010,0992012Assets 2013: $5,413,906Liabilities 2013: $91,613Net Assets 2013: $5,322,2932013Assets 2014: $3,284,594Liabilities 2014: $82,863Net Assets 2014: $3,201,7312014Assets 2015: $1,901,850Liabilities 2015: $65,191Net Assets 2015: $1,836,6592015Assets 2016: $1,176,978Liabilities 2016: $28,185Net Assets 2016: $1,148,7932016Assets 2017: $554,720Liabilities 2017: $71,115Net Assets 2017: $483,6052017Assets 2018: $440,149Liabilities 2018: $17,236Net Assets 2018: $422,9132018Assets 2019: $419,662Liabilities 2019: $45,042Net Assets 2019: $374,6202019Assets 2020: $547,285Liabilities 2020: $28,675Net Assets 2020: $518,6102020Assets 2021: $840,731Liabilities 2021: $17,891Net Assets 2021: $822,8402021Assets 2022: $671,908Liabilities 2022: $29,828Net Assets 2022: $642,0802022Assets 2023: $1,339,963Liabilities 2023: $24,644Net Assets 2023: $1,315,3192023Assets 2024: $1,101,763Liabilities 2024: $19,629Net Assets 2024: $1,082,1342024Assets 2025: $1,251,326Liabilities 2025: $16,872Net Assets 2025: $1,234,4542025

Highlighted filing

2014

Assets$3,284,594
Liabilities$82,863
Net Assets$3,201,731

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MExpenses 2010: $1,188,6692010Expenses 2011: $1,786,4592011Expenses 2012: $3,660,0712012Revenue 2013: $1,717,962Expenses 2013: $4,405,768Net Income 2013: -$2,687,8062013Revenue 2014: $535,926Expenses 2014: $2,656,488Net Income 2014: -$2,120,5622014Revenue 2015: $709,003Expenses 2015: $2,074,075Net Income 2015: -$1,365,0722015Revenue 2016: $758,633Expenses 2016: $1,446,499Net Income 2016: -$687,8662016Revenue 2017: $194,849Expenses 2017: $860,038Net Income 2017: -$665,1892017Revenue 2018: $626,521Expenses 2018: $687,213Net Income 2018: -$60,6922018Revenue 2019: $333,045Expenses 2019: $381,338Net Income 2019: -$48,2932019Revenue 2020: $519,500Expenses 2020: $375,510Net Income 2020: $143,9902020Revenue 2021: $758,000Expenses 2021: $453,770Net Income 2021: $304,2302021Revenue 2022: $341,000Expenses 2022: $521,760Net Income 2022: -$180,7602022Revenue 2023: $1,162,640Expenses 2023: $489,401Net Income 2023: $673,2392023Revenue 2024: $488,065Expenses 2024: $721,250Net Income 2024: -$233,1852024Revenue 2025: $813,412Expenses 2025: $661,092Net Income 2025: $152,3202025

Highlighted filing

2014

Revenue$535,926
Expenses$2,656,488
Net Income-$2,120,562
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Dec 12, 2014
Return Version
2013v3.0
Gross Receipts
$535,926
Mission and Program Overview

Mission

To be a source of new ideas on how michigan's people, enterprises, and communities can succeed in the information age.

Develop and advance a practical vision of michigan's social, educational, and economic future

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,717,114$2,311,945▲ $594,831
Pledges and Grants Receivable$3,692,300$891,700▼ $2,800,600
Prepaid Expenses and Deferred Charges$4,492$80,949▲ $76,457
Total Assets$5,413,906$3,284,594▼ $2,129,312
Liabilities
Accounts Payable and Accrued Expenses$91,613$82,863▼ $8,750
Total Liabilities$91,613$82,863▼ $8,750
Net Assets / Fund Balance
Temporarily Rstr Net Assets$5,374,899$3,161,930▼ $2,212,969
Unrestricted Net Assets$-52,606$39,801▲ $92,407
Total Net Assets Fund Balance$5,322,293$3,201,731▼ $2,120,562
Total Liabilities and Net Assets / Fund Balance$5,413,906$3,284,594▼ $2,129,312
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Louis GlazerPresidentFT$171,288$171,288
Kimberly TrentStudent Recruitment ManagerFT$105,981$105,981

Board Members and Trustees

NameTitle
David EgnerChair
Paul HillegondsDirector
Tonya AllenDirector
Vernice AnthonySecretary
Sandy K BaruahTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Equity Education Management Solutions LConsulting-$564,666
RedesignConsulting-$450,435
Ray's Consultant GroupConsulting-$195,000
Innovative Consulting In EducationConsulting-$171,831
New Solutions Group LLCConsulting-$106,527
Revenue and Support

Revenue Composition

Contributions and Grants
$534,400
Program Service Revenue
$0
Investment Income
$1,526
Other Revenue
$0
All Other Contributions
$534,400
Change in Net Assets
$-2,120,562

Audited Revenue Reconciliation

Revenue per Audited Statements
$535,926
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$535,926
Total Revenue per Form 990
$535,926
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,821,463
Salaries, Compensation, and Employee Benefits$435,025
Grants and Similar Amounts Paid$400,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$593,172--$593,172
Grants to Domestic Orgs$400,000--$400,000
Current Officers, Directors, Trustees, and Key Employees$163,841$18,205-$182,046
Other Salaries and Wages$181,990--$181,990
Fees for Services Accounting-$40,450-$40,450
Other Employee Benefits$32,588$3,621-$36,209
Travel$24,787--$24,787
Payroll Taxes$21,720$2,413-$24,133
Fees for Services Legal-$11,646-$11,646
Pension Plan Contributions$9,582$1,065-$10,647
Insurance$2,443$272-$2,715
Office Expenses$2,191$243-$2,434
Other Expenses$1,637$182-$1,819
Interest$980--$980
Total Functional Expenses$2,578,391$78,097$0$2,656,488

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,656,488
Total Expenses per Audited Statements$2,656,488
Total Expenses per Form 990$2,656,488
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
27-1837383-501(c)(3)Planning and Operating Grant for New High School in the Detroit Area$300,000
38-3417883-Detroit Edison PsaGrant to Provide Assistance to Students Dual-enrolled in High School and College$100,000
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

Form 990 is prepared by an independent c.p.a. Firm and is reviewed by the president of michigan future, inc. ("mfi"), as well as the chief financial officer and the director of accounting of the detroit regional chamber (the "chamber"). Prior to submission of form 990, the return is reviewed with the chair of the chamber's audit committee and is provided to mfi's board of directors.

Form 990, Part VI, Section B, Line 15A

The salary of mfi's president is set each year by mfi's board of directors during its annual board meeting as part of his performance review; increases are determined and approved by mfi's board of directors, with verification that the salary does not exceed salary amounts allowed under existing grant agreements.

Form 990, Part VI, Section C, Line 19

The governing documents and financial statements are available on request as posted on the website.

Filing and Contact Details

Filer

EIN
38-3001180
Phone
7347478120

Signing Officer

Name
Louis Glazer
Title
President
Phone
7347478120
Signed
2014-12-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Louis Glazer
Formed
1991
Legal Domicile
Mi
Voting Board Members
6
Independent Board Members
5
Employees
3
Volunteers
0

Preparer

Preparer
Michael R Nicholas
Phone
3139652655
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Consulting fees: program service expenses 593,172. Management and general expenses 0. Fundraising expenses 0. Total expenses 593,172.

Financial Statement Notes

PART X, LINE 2:

Mfi's management is not aware of any unrecognized tax benefits as of june 30, 2014. Mfi is no longer subject to federal income tax examinations by the irs for years prior to the year ended june 30, 2008.

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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/OtherExpensesGrp/TotalAmt2180167
IRS990/OtherExpensesGrp/TotalAmt31819
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0181990
IRS990/OtherSalariesAndWagesGrp/TotalAmt0181990
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02413
IRS990/PayrollTaxesGrp/ProgramServicesAmt021720
IRS990/PayrollTaxesGrp/TotalAmt024133
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt01065
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt09582
IRS990/PensionPlanContributionsGrp/TotalAmt010647
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt03692300
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0891700
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt04492
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt080949
IRS990/PrincipalOfficerNm0LOUIS GLAZER
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01710000
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt02513594
IRS990/PYInvestmentIncomeAmt01912
IRS990/PYOtherExpensesAmt01477195
IRS990/PYOtherRevenueAmt06050
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-2687806
IRS990/PYSalariesCompEmpBnftPaidAmt0414979
IRS990/PYTotalExpensesAmt04405768
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01717962
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-2120562
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01717114
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02311945
IRS990ScheduleA/CertificationInd0X
IRS990ScheduleA/Contribution35ControlledInd00
IRS990ScheduleA/ContributionControllerInd00
IRS990ScheduleA/ContributionFamilyInd00
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0380477570
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeDesc0501(C)(6)
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine10DETROIT REGIONAL CHAMBER
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrgNotifiedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/USOrganizedInd01
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt00
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/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt02656488
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0535926
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MFI'S MANAGEMENT IS NOT AWARE OF ANY UNRECOGNIZED TAX BENEFITS AS OF JUNE 30, 2014. MFI IS NO LONGER SUBJECT TO FEDERAL INCOME TAX EXAMINATIONS BY THE IRS FOR YEARS PRIOR TO THE YEAR ENDED JUNE 30, 2008.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt02656488
IRS990ScheduleD/TotalRevenuePerForm990Amt0535926
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0535926
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02656488
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0300000
IRS990ScheduleI/RecipientTable/CashGrantAmt1100000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1DETROIT EDISON PSA
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0N/A
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc1N/A
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0PLANNING AND OPERATING GRANT FOR NEW HIGH SCHOOL IN THE DETROIT AREA
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1GRANT TO PROVIDE ASSISTANCE TO STUDENTS DUAL-ENROLLED IN HIGH SCHOOL AND COLLEGE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine10UNIVERSITY YES ACADEMY HIGH SCHOOL
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine11DETROIT EDISON PUBLIC SCHOOL ACADEMY
IRS990ScheduleI/RecipientTable/RecipientEIN0271837383
IRS990ScheduleI/RecipientTable/RecipientEIN1383417883
IRS990ScheduleI/RecipientTable/USAddress/AddressLine10600 ANTOINETTE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine111903 WILKINS
IRS990ScheduleI/RecipientTable/USAddress/City0DETROIT
IRS990ScheduleI/RecipientTable/USAddress/City1DETROIT
IRS990ScheduleI/RecipientTable/USAddress/State0MI
IRS990ScheduleI/RecipientTable/USAddress/State1MI
IRS990ScheduleI/RecipientTable/USAddress/ZIPCode0482023416
IRS990ScheduleI/RecipientTable/USAddress/ZIPCode1482072112
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0N/A
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc1N/A
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0MFI'S PRESIDENT AND STAFF, AS WELL AS THE MICHIGAN FUTURE SCHOOLS' GOVERNING COUNCIL, REVIEW, APPROVE, AND DOCUMENT ALL GRANTS GIVEN BY THE ORGANIZATION TO ENSURE THEY ARE USED FOR THEIR INTENDED PURPOSES. THESE RECORDS ARE MAINTAINED AT THE ORGANIZATION.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt02
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0171288
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt1113558
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1329854
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt118418
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt125685
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt112995
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0LOUIS GLAZER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1SANDY K BARUAH
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0171288
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1500510
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS PREPARED BY AN INDEPENDENT C.P.A. FIRM AND IS REVIEWED BY THE PRESIDENT OF MICHIGAN FUTURE, INC. ("MFI"), AS WELL AS THE CHIEF FINANCIAL OFFICER AND THE DIRECTOR OF ACCOUNTING OF THE DETROIT REGIONAL CHAMBER (THE "CHAMBER"). PRIOR TO SUBMISSION OF FORM 990, THE RETURN IS REVIEWED WITH THE CHAIR OF THE CHAMBER'S AUDIT COMMITTEE AND IS PROVIDED TO MFI'S BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SALARY OF MFI'S PRESIDENT IS SET EACH YEAR BY MFI'S BOARD OF DIRECTORS DURING ITS ANNUAL BOARD MEETING AS PART OF HIS PERFORMANCE REVIEW; INCREASES ARE DETERMINED AND APPROVED BY MFI'S BOARD OF DIRECTORS, WITH VERIFICATION THAT THE SALARY DOES NOT EXCEED SALARY AMOUNTS ALLOWED UNDER EXISTING GRANT AGREEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE ON REQUEST AS POSTED ON THE WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONSULTING FEES: PROGRAM SERVICE EXPENSES 593,172. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 593,172.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd1N/A

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.25$0.02$1.23$0.81$0.66$0.15
2024Detailed filing. Detailed filing data is available for this year.$1.10$0.02$1.08$0.49$0.72$0.23
2023Detailed filing. Detailed filing data is available for this year.$1.34$0.02$1.32$1.16$0.49$0.67
2022Detailed filing. Detailed filing data is available for this year.$0.67$0.03$0.64$0.34$0.52$0.18
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.84$0.02$0.82$0.76$0.45$0.30
2020Detailed filing. Detailed filing data is available for this year.$0.55$0.03$0.52$0.52$0.38$0.14
2019Detailed filing. Detailed filing data is available for this year.$0.42$0.05$0.37$0.33$0.38$0.05
2018Detailed filing. Detailed filing data is available for this year.$0.44$0.02$0.42$0.63$0.69$0.06
2017Detailed filing. Detailed filing data is available for this year.$0.55$0.07$0.48$0.19$0.86$0.67
2016Detailed filing. Detailed filing data is available for this year.$1.18$0.03$1.15$0.76$1.45$0.69
2015Detailed filing. Detailed filing data is available for this year.$1.90$0.07$1.84$0.71$2.07$1.37
2014Detailed filing. Detailed filing data is available for this year.$3.28$0.08$3.20$0.54$2.66$2.12
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.41$0.09$5.32$1.72$4.41$2.69
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.08$0.07$8.01$3.66
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.3$0.03$11.3$1.79
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.0$0.01$12.0$1.19