Civic Intelligence

Michigan Future Inc.

990 • Fiscal year 2017 • EIN 38-3001180

Jul 01, 2016 to Jun 30, 2017 • Filed on Dec 19, 2017

Organization Profilewww.Michiganfuture.org
P O 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

66th percentile

0.13x

Higher debt load relative to assets than 66% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

82nd percentile

0.36x

Higher debt load relative to revenue than 82% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

1st percentile

-341%

Higher net margin than 1% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

99th percentile

$510,925

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 262.2% of source-year revenue.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Asset Growth

2nd percentile

-53%

Faster asset growth than 2% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

2nd percentile

-74%

Faster revenue growth than 2% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets66th percentile

Assets

Down

$554,720

Down $622,258 (-53%) from 2016

Net Assets

Down

$483,605

Down $665,188 (-58%) from 2016

Liabilities

Up

$71,115

Up $42,930 (+152%) from 2016

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin1st percentile

Revenue

Down

$194,849

Down $563,784 (-74%) from 2016

Expenses

Down

$860,038

Down $586,461 (-41%) from 2016

Net Income

Up

-$665,189

Up $22,677 (+3.3%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

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

2017

Assets$554,720
Liabilities$71,115
Net Assets$483,605
Open 2017 Filing

Operations Trend

Revenue Growth2nd percentile

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

2017

Revenue$194,849
Expenses$860,038
Net Income-$665,189
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Dec 19, 2017
Return Version
2016v3.0
Gross Receipts
$194,849
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$711,613$499,561▼ $212,052
Pledges and Grants Receivable$460,883$50,555▼ $410,328
Prepaid Expenses and Deferred Charges$4,482$4,604▲ $122
Total Assets$1,176,978$554,720▼ $622,258
Liabilities
Accounts Payable and Accrued Expenses$28,185$36,115▲ $7,930
Deferred Revenue-$35,000-
Total Liabilities$28,185$71,115▲ $42,930
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,109,850$415,336▼ $694,514
Unrestricted Net Assets$38,943$68,269▲ $29,326
Total Net Assets Fund Balance$1,148,793$483,605▼ $665,188
Total Liabilities and Net Assets / Fund Balance$1,176,978$554,720▼ $622,258
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Louis GlazerPresidentFT$194,167$15,500$209,667
Kimberly Trentpolicy associateFT$105,000$8,400$113,400

Board Members and Trustees

NameTitle
Paul HillegondsDirector
Steven WilsonDirector
Tonya AllenDirector
Vernice AnthonySecretary
Sandy K BaruahTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
New Solutions Group LLCConsulting4444 SECOND AVENUE, Detroit, MI 48201$106,193
Revenue and Support

Revenue Composition

Contributions and Grants
$194,662
Program Service Revenue
$0
Investment Income
$187
Other Revenue
$0
All Other Contributions
$194,662
Change in Net Assets
$-665,189

Audited Revenue Reconciliation

Revenue per Audited Statements
$194,849
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$194,849
Total Revenue per Form 990
$194,849
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$461,694
Other Expenses$373,037
Grants and Similar Amounts Paid$25,307
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$195,525$1,975-$197,500
Other Salaries and Wages$195,000--$195,000
Fees for Services Other$110,535--$110,535
Fees for Services Accounting-$47,500-$47,500
Other Employee Benefits$31,480$318-$31,798
Payroll Taxes$25,365$256-$25,621
Grants to Domestic Orgs$25,307--$25,307
Travel$21,606--$21,606
Pension Plan Contributions$11,657$118-$11,775
Insurance$3,193$32-$3,225
Office Expenses$2,089--$2,089
Other Expenses$1,955$20-$1,975
All Other Expenses$160--$160
Total Functional Expenses$809,819$50,219$0$860,038

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$860,038
Total Expenses per Audited Statements$860,038
Total Expenses per Form 990$860,038
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
detroit public schools foundationdetroit, MI501(c)(3)to support the Dr. Benjamin Carson High School for Health & Medicine and its$20,307
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 11B

“Form 990 is prepared by an independent cpa firm and is reviewed by the president of the Michigan Future, inc. ("MFI"), as well as the chief financial officer and the sr. director of accounting of the Detroit regional chamber (the "chamber"). Prior to submission of the 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 the 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

Filer Name
Michigan Future Inc
EIN
38-3001180
Phone
7347478120
Address
P O Box 130416, Ann Arbor, MI 48113-0416

Signing Officer

Name
Louis Glazer
Title
President
Phone
7347478120
Signed
2017-12-19
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
6
Volunteers
0

Preparer

Firm
Rehmann Robson LLC
Address
555 Briarwood Circle Ste 300, Ann Arbor, MI 48108
Preparer
Adam P Williams CPA
Phone
7347612005
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

“Other Operating Expenses: Program service expenses 110,535. Management and general expenses 0. Fundraising expenses 0. Total expenses 110,535.”

Form 990, Part XII, Line 2C:

“The organization did not make any changes to its oversight process or selection process during the tax year.”

Financial Statement Notes

Part X, Line 2:

“Michigan Future, Inc concluded that there are no significant uncertain tax positions requiring recognition in Michigan Future, Inc's financial statements.”

Part X, Line 2

“MFI's Management is not aware of any unrecognized tax benefits as of June 30, 2017 or 2016”

Raw XML AppendixShowing 400 of 535 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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IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgQualifiedInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind01
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtExclusivelySec170c2BInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Michigan Future, Inc ("MFI") and the Detroit regional chamber (the "chamber") have common management teams. Management has a copy of the internal revenue service determination letter indicating that the chamber qualifies under internal revenue code section 501(c)(3). Management Annually reviews the chamber's financial activity to ascertain that the chamber continues to satisfy the public support tests under internal revenue code section 509(A)(2)
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1Any funds provided by MFI to the chamber are used by the programs for which they are intended all programs of both MFI and the chamber have their own cost centers to keep financial activity segregated. This activity is monitored by the organizations' common management teams.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Part IV, Section A, Line 3b:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1Part IV, Section A, Line 3c:
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0380477570
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd010
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0Detroit Regional Chamber
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/ExpensesSubtotalAmt0860038
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0194849
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Michigan Future, Inc concluded that there are no significant uncertain tax positions requiring recognition in Michigan Future, Inc's financial statements.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1MFI's Management is not aware of any unrecognized tax benefits as of June 30, 2017 or 2016
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part X, Line 2
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0860038
IRS990ScheduleD/TotalRevenuePerForm990Amt0194849
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0194849
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0860038
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt020307
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(c)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0n/a
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0to support the Dr. Benjamin Carson High School for Health & Medicine and its
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0detroit public schools foundation
IRS990ScheduleI/RecipientTable/RecipientEIN0300134550
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0west grand blvd fisher building
IRS990ScheduleI/RecipientTable/USAddress/AddressLine2Txt0suite 1004 3001
IRS990ScheduleI/RecipientTable/USAddress/CityNm0detroit
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MI
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd048202
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0n/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/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0194167
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt1107312
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1362476
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt015500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt118550
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt110587
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt112000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Louis Glazer
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1Sandy K Baruah
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0President
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1Treasurer
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0209667
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1510925
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990 is prepared by an independent cpa firm and is reviewed by the president of the Michigan Future, inc. ("MFI"), as well as the chief financial officer and the sr. director of accounting of the Detroit regional chamber (the "chamber"). Prior to submission of the 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 the 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/ExplanationTxt3Other Operating Expenses: Program service expenses 110,535. Management and general expenses 0. Fundraising expenses 0. Total expenses 110,535.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The organization did not make any changes to its oversight process or selection process during the tax year.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XII, Line 2c:
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
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0382479423
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN1203796295
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt1C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0MI
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd1MI
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0Affinity services
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt1Affinity services
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0Detroit regional chamber services inc
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt1National Commerce Group
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0PO Box 33840
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt1One woodward avenue ste 1900
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0Detroit
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm1Detroit
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0MI

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$554,720
Liabilities
$71,115
Net assets
$483,605
Revenue
$194,849
Expenses
$860,038
Net income
-$665,189
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