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Nonprofiteer
← MICHIGAN STATE CHAMBER FOUNDATION

Form 990 for tax year 2023

Filed by MICHIGAN STATE CHAMBER FOUNDATION.

Totals

Total revenue
$1,092,955
Total expenses
$1,025,733
Contributions and grants received
$1,087,671
Grants paid
$0
Program service revenue
$4,795
Investment income
$0
Other revenue
$489
Total assets, end of year
$369,510
Total liabilities, end of year
$182,325
Net assets or fund balances, end of year
$187,185
Program services expenses (Part IX)
$770,183
Management and general expenses
$255,550
Fundraising expenses
$0
Program service expenses (Part III)
$770,183

Program services were 75.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $56,715

  • 1e · Government grants (contributions)

    $780,110

  • 1f · All other contributions, gifts and grants

    $250,846

  • 2a · Program service revenue: PROGRAM SERVICES

    total $4,795 · related or exempt $4,795

  • 11a · Other revenue: OTHER INCOME

    total $489 · related or exempt $489

  • 11e · Other revenue, total

    $489

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $177,090 · management and general $177,090

  • 11b · Fees: legal

    total $13,520 · management and general $13,520

  • 11c · Fees: accounting

    total $12,715 · management and general $12,715

  • 12 · Advertising and promotion

    total $3,312 · management and general $3,312

  • 13 · Office expenses

    total $3,229 · management and general $3,229

  • 16 · Occupancy

    total $44,000 · management and general $44,000

  • 17 · Travel

    total $925 · management and general $925

  • 19 · Conferences, conventions and meetings

    total $8,150 · program services $8,150

  • 24a · Other expenses: PROGRAM EXPENSES

    total $762,033 · program services $762,033

  • 24b · Other expenses: DUES & SUBSCRIPTIONS

    total $669 · management and general $669

  • 24c · Other expenses: MISCELLANEOUS EXPENSE

    total $90 · management and general $90

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $168,187 · end of year $323,010

  • 3 · Pledges and grants receivable

    beginning of year $43,569 · end of year $44,325

  • 4 · Accounts receivable

    beginning of year $249 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,500 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $2,175

  • 17 · Accounts payable and accrued expenses

    beginning of year $79,317 · end of year $150,303

  • 19 · Deferred revenue

    end of year $16,794

  • 25 · Other liabilities

    beginning of year $17,225 · end of year $15,228

  • 27 · Net assets without donor restrictions

    beginning of year $119,963 · end of year $187,185

Mission and programs · 2023

Mission

1) TO PLAN AND CONDUCT NONPARTISAN PUBLIC EDUCATION PROGRAMS REGARDING FREE ENTERPRISE, PRODUCTIVITY AND BASIC ECONOMIC ISSUES AFFECTING THE STATE OF MICHIGAN.2) TO ESTABLISH AND OPERATE A LEADERSHIP INSTITUTE DESIGNED TO PROVIDE PROMISING FUTURE LEADERS IN BUSINESS, POLITICS, THE ARTS, EDUCATION, AND SOCIAL SERVICES WITH AN ASSESSMENT OF MICHIGAN'S ASSETS, CHALLENGES, AND OPPORTUNITIES IN ORDER TO GIVE PARTICIPANTS THE BACKGROUND AND NETWORK OF CONTACTS NECESSARY TO MAKE A POSITIVE IMPACT ON MICHIGAN'S FUTURE.3) TO CONDUCT NONPARTISAN RESEARCH AND DISTRIBUTE POLICY STUDIES ON ISSUES FACING MICHIGAN INCLUDING, BUT NOT LIMITED TO TAXATION, GOVERNMENT REGULATION, HEALTH CARE, HAZARDOUS WASTE, CRIME, TOURISM AND RECREATION, WELFARE, GOVERNMENT SPENDING AND TRANSPORTATION.4) TO ENCOURAGE AND SUPPORT THE MISSION OF THE MICHIGAN CHAMBER TO PROMOTE CONDITIONS FAVORABLE TO JOB CREATION AND BUSINESS GROWTH IN MICHIGAN.

  • MICHIGAN CHAMBER FOUNDATION (THE "FOUNDATION") PROVIDES ACCESS TO INFORMATION AND NONPARTISAN EDUCATIONAL PROGRAMS FOR THE BUSINESS COMMUNITY OF MICHIGAN THROUGH PROGRAMS AND EVENTS.CHAMBER DAY AT THE CAPITOL: AN ANNUAL EVENT TO CONVENE CHAMBERS OF COMMERCE STAFF AND VOLUNTEERS AND PROVIDE EDUCATION ON ISSUES OF MUTUAL INTEREST.DIVERSITY, EQUITY, AND INCLUSION SERIES: A SERIES OF EVENTS TO HELP EMPLOYERS NAVIGATE AND MODEL BEST PRACTICES FOR AN INCLUSIVE WORKPLACE.SUSTAINABILITY SUMMIT: AN ANNUAL EVENT TO CONNECT BUSINESS LEADERS WITH STRATEGIES AND INSIGHTS ON KEY ENVIRONMENTAL SUSTAINABILITY ISSUES.ECONOMIC WORKFORCE SUMMIT: AN ANNUAL EVENT FOR BUSINESS LEADERS TO FORECAST KEY ECONOMIC, BUSINESS AND WORKFORCE TRENDS.MICHIGAN ATHENA SERIES: AN ANNUAL SERIES OF EVENTS TO CONNECT WOMEN BUSINESS LEADERS AND PROVIDE LEARNING OPPORTUNITIES TO SUPPORT WOMEN IN LEADERSHIP.TRAINING & EDUCATION: A MONTHLY SERIES OF EDUCATION EVENTS TO CONNECT BUSINESS LEADERS WITH TIMELY INFORMATION TO MEET REGULATORY AND LEGAL REQUIREMENTS.MICHIGAN ENERGY WORKFORCE DEVELOPMENT CONSORTIUM: AN INDUSTRY-LED PARTNERSHIP TO ADDRESS CURRENT AND FUTURE WORKFORCE ISSUES AFFECTING MICHIGAN'S ENERGY WORKFORCE INCLUDING EFFORTS TO GROW AND DIVERSIFY CAREER OPPORTUNITIES.

    Expenses $770,183 · Revenue $5,284

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • James Holcomb

    PRESIDENT

    Total calculated
    $543,065
    From this org
    $0
    From related orgs
    $507,679
    Other
    $35,386
    Hours/week
    10 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $451,923 related
    Bonus
    $0 + $31,000 related
    Other
    $0 + $24,756 related
    Deferred
    $0 + $30,000 related
    Nontaxable benefits
    $0 + $5,386 related
    Filer's total
    $0 + $543,065 related

  • Jeff Stoutenberg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.1 related

  • Mark Lockwood

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.1 related

  • Bob Thomas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.1 related

  • Allie Walker

    CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 0.1 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART II
JAMES HOLCOMB RECEIVES NO COMPENSATION FROM THE MICHIGAN CHAMBER FOUNDATION. THE SALARY LISTED ON SCHEDULE J, PART II IS COMPENSATION THAT JAMES HOLCOMB RECEIVES AS PRESIDENT OF THE MICHIGAN CHAMBER OF COMMERCE, A RELATED ORGANIZATION.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • MICHIGAN CHAMBER OF COMMERCE

    501(C)(6) · TO PROMOTE CONDITIONS FAVORABLE TO JOB CREATION AND BUSINESS GROWTH IN MI. · MI

  • MICHIGAN CHAMBER POLITICAL ACTION COMMITTEE I

    527 · PROMOTE THE ELECTION OF PRO-BUSINESS CANDIDATES TO MICHIGAN PUBLIC OFFICE · MI

    Directly controlled by MICHIGAN CHAMBER OF COMMERCE

  • MICHIGAN CHAMBER POLITICAL ACTION COMMITTEE II

    501(C)(4) · FUND PRO-BUSINESS POSITIONS RELATED TO BALLOT QUESTIONS · MI

    Directly controlled by MICHIGAN CHAMBER OF COMMERCE

  • MICHIGAN CHAMBER POLITICAL ACTION COMMITTEE III

    527 · MAKE INDEPENDENT EXPENDITURES RELATED TO CANIDATES FOR STATE · MI

    Directly controlled by MICHIGAN CHAMBER OF COMMERCE

  • MICHIGAN CHAMBER LITIGATION CENTER

    501(C)(6) · ADVOCATE FAIR TREATMENT OF BUSINESS IN THE COURTS AND REGULATORY AGENCIES · MI

    Directly controlled by MICHIGAN CHAMBER OF COMMERCE

  • MICHIGAN CHAMBER FEDERAL PAC

    527 · TO ELECT PRO-BUSINESS CANIDATES TO FEDERAL PUBLIC OFFICE · MI

    Directly controlled by MICHIGAN CHAMBER OF COMMERCE

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • MICHIGAN CHAMBER SERVICES INC

    C · MEMBER SERVICES · MI

Provenance

Return type
form_990
Tax year
2023
Filed
5 March 2025
IRS schema version
2023v6.0
Source object
202500689349300255

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