Civic Intelligence

Michigan Founders Fund

990 • Fiscal year 2022 • EIN 86-3992946

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 15, 2023

Organization ProfileMICHIGANFOUNDERSFUND.ORG

View Organization Page

206 E Huron Street 305Ann Arbor, MI 48104

(734) 926-7020

Siviq Scores

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

Liabilities / Assets

49th percentile

0.02x

Higher debt load relative to assets than 49% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

40th percentile

0.01x

Higher debt load relative to revenue than 40% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

84th percentile

38%

Higher net margin than 84% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

92nd percentile

$125,435

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 13.4% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Balance Sheet
Liabilities / Assets49th percentile

Assets

$387,553

No earlier filing loaded for comparison.

Net Assets

$381,266

No earlier filing loaded for comparison.

Liabilities

$6,287

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue40th percentileNet Margin84th percentile

Revenue

$936,800

No earlier filing loaded for comparison.

Expenses

$583,538

No earlier filing loaded for comparison.

Net Income

$353,262

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$1.5M$1.0M$500K$0Assets 2022: $387,553Liabilities 2022: $6,287Net Assets 2022: $381,2662022Assets 2023: $420,972Liabilities 2023: $16,794Net Assets 2023: $404,1782023Assets 2024: $1,396,799Liabilities 2024: $786,119Net Assets 2024: $610,6802024

Highlighted filing

2022

Assets$387,553
Liabilities$6,287
Net Assets$381,266
Open 2022 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$2.0M$1.5M$1.0M$500K$0Revenue 2022: $936,800Expenses 2022: $583,538Net Income 2022: $353,2622022Revenue 2023: $1,171,501Expenses 2023: $1,148,589Net Income 2023: $22,9122023Revenue 2024: $1,887,693Expenses 2024: $1,681,191Net Income 2024: $206,5022024

Highlighted filing

2022

Revenue$936,800
Expenses$583,538
Net Income$353,262
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$936,800
Mission and Program Overview

Mission

Michigan founders fund (mff) helps entrepreneurs and their teams become active participants in the communities where they operate throughout the state of michigan. Mff will provide educational programming and resources that equip entrepreneurs to become stronger leaders and help them build diverse, equitable and inclusive company cultures. Mff programming will enable entrepreneurs to consider the impact of the business on multiple stakeholders, society and the environment. Mff will provide evidenced-based data that empowers entrepreneurs to make charitable financial and service contributions to support the ongoing work of mff and other nonprofit 501(c)(3) organizations dedicated to advancing entrepreneurs and students in stem and generating positive, sustainable public benefits to communities throughout michigan. Mff will collaborate with other 501(c)(3) organizations to promote their work and organize service activities for entrepreneurs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$28,003$347,216▲ $319,213
Accounts Receivable-$40,337-
Total Assets$28,003$387,553▲ $359,550
Liabilities
Unsecured Notes Loans Payable-$6,287-
Total Liabilities$0$6,287▲ $6,287
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$28,003$381,266▲ $353,263
Total Net Assets Fund Balance$28,003$381,266▲ $353,263
Total Liabilities and Net Assets / Fund Balance$28,003$387,553▲ $359,550
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Trista Van TineExecutive DirectorFT$125,435$125,435

Board Members and Trustees

NameTitle
Bhushan KulkarniCo-chair
Dug SongCo-chair
Adrian FortinoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$936,115
Program Service Revenue
$0
Investment Income
$685
Other Revenue
$0
All Other Contributions
$936,115
Change in Net Assets
$353,262
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$240,251
Other Expenses$228,285
Grants and Similar Amounts Paid$115,002
Total Fundraising Expense$25,347
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$72,919$24,306$24,306$121,531
Grants to Domestic Orgs$115,002--$115,002
Conferences and Meetings$94,574--$94,574
Other Salaries and Wages$73,443$18,361-$91,804
Occupancy$77,535$1,506-$79,041
Payroll Taxes$9,981$6,654-$16,635
Advertising$15,050--$15,050
Other Employee Benefits$7,184$2,056$1,041$10,281
Office Expenses$5,045$3,144-$8,189
Fees for Services Legal$1,779$1,779-$3,558
Fees for Services Other-$2,254-$2,254
Fees for Services Accounting-$1,617-$1,617
All Other Expenses-$549-$549
Other Expenses$466--$466
Insurance$117--$117
Travel-$41-$41
Total Functional Expenses$495,924$62,267$25,347$583,538
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Evenscore IncFarmington Hills, MI501(c)(3)2022 Venture Comp Winner$33,334
Justair Solutions IncGrand Rapids, MI-2022 Venture Comp Winner$33,334
Life Magnetics IncPlymouth, MI-2022 Venture Comp Winner$33,334
Keep Growing DetroitDetroit, MI-Community Trailblazer Grant$10,000
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
Annual disclosure for covered persons
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The board reviews the form 990 prior to filing.”

Form 990, Part VI, Section B, Line 12C

“The organization directly shared and requested review of the conflict of interest policy to the mff board and advisory council at the beginning of the year. The organization engaged in reminders and the executive director conducted review for any potential conflicts of interest during two of the quarterly board meetings later in the year.”

Form 990, Part VI, Section B, Line 15

“The board sets the executive director salary based on comparability data and adjusts as they see fit. Comparability data is used when determining compensation of key employees.”

Form 990, Part VI, Section C, Line 18

“The organization makes these documents available upon request.”

Form 990, Part VI, Section C, Line 19

“The organization makes these documents available upon request.”

Filing and Contact Details

Filer

Filer Name
Michigan Founders Fund
EIN
86-3992946
Phone
7349267020
Address
206 E HURON STREET 305, ANN ARBOR, MI 48104

Signing Officer

Name
Trista Van Tine
Title
Executive Director
Phone
7349267020
Signed
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Trista Van Tine
Formed
2021
Legal Domicile
Mi
Voting Board Members
4
Independent Board Members
3
Employees
2
Volunteers
25

Preparer

Firm
Croskey Lanni Pc
Address
345 DIVERSION STREET SUITE 400, ROCHESTER, MI 48307
Preparer
Patrick M Sweeney CPA
Phone
2486595300
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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/MissionDesc0MICHIGAN FOUNDERS FUND (MFF) HELPS ENTREPRENEURS AND THEIR TEAMS BECOME ACTIVE PARTICIPANTS IN THE COMMUNITIES WHERE THEY OPERATE THROUGHOUT THE STATE OF MICHIGAN. MFF WILL PROVIDE EDUCATIONAL PROGRAMMING AND RESOURCES THAT EQUIP ENTREPRENEURS TO BECOME STRONGER LEADERS AND HELP THEM BUILD DIVERSE, EQUITABLE AND INCLUSIVE COMPANY CULTURES. MFF PROGRAMMING WILL ENABLE ENTREPRENEURS TO CONSIDER THE IMPACT OF THE BUSINESS ON MULTIPLE STAKEHOLDERS, SOCIETY AND THE ENVIRONMENT. MFF WILL PROVIDE EVIDENCED-BASED DATA THAT EMPOWERS ENTREPRENEURS TO MAKE CHARITABLE FINANCIAL AND SERVICE CONTRIBUTIONS TO SUPPORT THE ONGOING WORK OF MFF AND OTHER NONPROFIT 501(C)(3) ORGANIZATIONS DEDICATED TO ADVANCING ENTREPRENEURS AND STUDENTS IN STEM AND GENERATING POSITIVE, SUSTAINABLE PUBLIC BENEFITS TO COMMUNITIES THROUGHOUT MICHIGAN. MFF WILL COLLABORATE WITH OTHER 501(C)(3) ORGANIZATIONS TO PROMOTE THEIR WORK AND ORGANIZE SERVICE ACTIVITIES FOR ENTREPRENEURS.
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2LIFE MAGNETICS INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3KEEP GROWING DETROIT
IRS990ScheduleI/RecipientTable/RecipientEIN0872958466
IRS990ScheduleI/RecipientTable/RecipientEIN1874112332
IRS990ScheduleI/RecipientTable/RecipientEIN2463926488
IRS990ScheduleI/RecipientTable/RecipientEIN3800892277
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt030707 CREST FOREST
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt135 OAKS STREET SW SUITE 500
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt246701 COMMERCE CENTER DR
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt31445 ADELAIDE ST
IRS990ScheduleI/RecipientTable/USAddress/CityNm0FARMINGTON HILLS
IRS990ScheduleI/RecipientTable/USAddress/CityNm1GRAND RAPIDS
IRS990ScheduleI/RecipientTable/USAddress/CityNm2PLYMOUTH
IRS990ScheduleI/RecipientTable/USAddress/CityNm3DETROIT
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0FOR ALL GRANT DISTRIBUTIONS, THERE WAS AN APPLICATION PROCESS PUBLISHED ONLINE WITH A LIST OF SPECIFIC ELIGIBILITY REQUIREMENTS TO BE SATISFIED FOR CONSIDERATION. A COMBINED STAFF AND INDEPENDENT REVIEW COMMITTEE DETERMINED THE GRANT AWARDS TO THE SELECTED COMMUNITY TRAILBLAZERS (KEEP GROWING DETROIT) AND A JUDGING PANEL OF INDEPENDENT VENTURE CAPITALISTS DETERMINED THE GRANT RECIPIENTS FOR THE VENTURE COMPETITION (EVENSCORE, JUSTAIR, LIFE MAGNETICS). THE ORGANIZATION PERIODICALLY HELD CALLS AND REQUESTED UPDATES FROM THE GRANTEES IN THE FORM OF EMAILS AND WRITTEN BLOG POSTS IN THE MONTHS UP TO A YEAR FOLLOWING THEIR AWARDS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD REVIEWS THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DIRECTLY SHARED AND REQUESTED REVIEW OF THE CONFLICT OF INTEREST POLICY TO THE MFF BOARD AND ADVISORY COUNCIL AT THE BEGINNING OF THE YEAR. THE ORGANIZATION ENGAGED IN REMINDERS AND THE EXECUTIVE DIRECTOR CONDUCTED REVIEW FOR ANY POTENTIAL CONFLICTS OF INTEREST DURING TWO OF THE QUARTERLY BOARD MEETINGS LATER IN THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD SETS THE EXECUTIVE DIRECTOR SALARY BASED ON COMPARABILITY DATA AND ADJUSTS AS THEY SEE FIT. COMPARABILITY DATA IS USED WHEN DETERMINING COMPENSATION OF KEY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES THESE DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES THESE DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt062267
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0495924
IRS990/TotalFunctionalExpensesGrp/TotalAmt0583538
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IRS990/WebsiteAddressTxt0MICHIGANFOUNDERSFUND.ORG
IRS990/WhistleblowerPolicyInd00
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
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ReturnHeader/PreparerPersonGrp/PhoneNum02486595300
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PATRICK M SWEENEY CPA
ReturnHeader/ReturnTs02023-11-15T07:02:43-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0TRISTA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0VAN TINE
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$387,553
Liabilities
$6,287
Net assets
$381,266
Revenue
$936,800
Expenses
$583,538
Net income
$353,262
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.40$0.79$0.61$1.89$1.68$0.21
2023Detailed filing. Detailed filing data is available for this year.$0.42$0.02$0.40$1.17$1.15$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.39$0.01$0.38$0.94$0.58$0.35