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Nonprofiteer
← THE MICHIGAN WOMENS FOUNDATION

Form 990 for tax year 2022

Filed by THE MICHIGAN WOMENS FOUNDATION.

Totals

Total revenue
$4,075,099
Total expenses
$3,410,744
Contributions and grants received
$3,174,154
Grants paid
$217,100
Program service revenue
$369,855
Investment income
$121,106
Other revenue
$409,984
Total assets, end of year
$12,044,313
Total liabilities, end of year
$9,091,042
Net assets or fund balances, end of year
$2,953,271
Program services expenses (Part IX)
$2,376,074
Management and general expenses
$634,412
Fundraising expenses
$400,258
Program service expenses (Part III)
$2,376,074

Program services were 69.7% 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.

  • 1c · Fundraising events

    $76,525

  • 1e · Government grants (contributions)

    $951,656

  • 1f · All other contributions, gifts and grants

    $2,145,973

  • 2a · Program service revenue: MICROLOAN INTEREST

    total $278,250 · related or exempt $278,250

  • 2b · Program service revenue: MICROLOAN FEES

    total $58,927 · related or exempt $58,927

  • 2c · Program service revenue: LOAN RECOVERY REVENUE

    total $32,678 · related or exempt $32,678

  • 3 · Investment income

    total $44,871 · excluded $44,871

  • 7a · Gross sales of assets other than inventory

    securities $1,248,525

  • 7b · Less cost or other basis and sales expenses

    securities $1,154,774 · other assets $17,516

  • 7c · Gain or loss

    securities $93,751 · other assets -$17,516

  • 7d · Net gain or loss

    total $76,235 · excluded $76,235

  • 8a · Fundraising events: gross income

    $576,744

  • 8a · Fundraising events: contributions included on line 1c

    $76,525

  • 8b · Fundraising events: direct expenses

    $170,680

  • 8c · Net income from fundraising events

    total $406,064 · excluded $406,064

  • 11a · Other revenue: OTHER INCOME

    total $3,920 · excluded $3,920

  • 11e · Other revenue, total

    $3,920

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $217,100 · program services $217,100

  • 5 · Compensation of officers, directors and key employees

    total $440,273 · program services $243,946 · management and general $113,003 · fundraising $83,324

  • 7 · Other salaries and wages

    total $1,051,880 · program services $582,825 · management and general $269,982 · fundraising $199,073

  • 8 · Pension plan contributions

    total $34,308 · program services $9,929 · management and general $22,618 · fundraising $1,761

  • 9 · Other employee benefits

    total $68,458 · program services $19,813 · management and general $45,132 · fundraising $3,513

  • 10 · Payroll taxes

    total $108,833 · program services $31,498 · management and general $71,750 · fundraising $5,585

  • 11b · Fees: legal

    total $94,589 · program services $75,648 · management and general $9,706 · fundraising $9,235

  • 11c · Fees: accounting

    total $101,625 · program services $68,393 · management and general $17,480 · fundraising $15,752

  • 11g · Fees: other

    total $99,974 · program services $79,955 · management and general $10,259 · fundraising $9,760

  • 13 · Office expenses

    total $57,189 · program services $33,379 · management and general $12,983 · fundraising $10,827

  • 14 · Information technology

    total $5,951 · program services $3,910 · management and general $1,428 · fundraising $613

  • 16 · Occupancy

    total $100,769 · program services $65,500 · management and general $16,123 · fundraising $19,146

  • 17 · Travel

    total $16,141 · program services $8,165 · management and general $6,179 · fundraising $1,797

  • 19 · Conferences, conventions and meetings

    total $15,336 · program services $7,758 · management and general $5,871 · fundraising $1,707

  • 20 · Interest

    total $118,495 · program services $100,453 · management and general $6,332 · fundraising $11,710

  • 22 · Depreciation, depletion and amortization

    total $7,012 · program services $579 · management and general $2,446 · fundraising $3,987

  • 23 · Insurance

    total $32,591 · program services $21,933 · management and general $5,606 · fundraising $5,052

  • 24a · Other expenses: BAD DEBTS

    total $589,651 · program services $572,021 · management and general $2,496 · fundraising $15,134

  • 24b · Other expenses: PROGRAM/EVENT EXPENSES

    total $223,949 · program services $224,790 · management and general -$229 · fundraising -$612

  • 24c · Other expenses: MEMBERSHIPS/SUBSCRIPTIO

    total $15,159 · program services $4,243 · management and general $10,635 · fundraising $281

  • 24d · Other expenses: EQUIPMENT LEASE

    total $4,255 · program services $1,473 · management and general $1,272 · fundraising $1,510

  • 24e · All other expenses

    total $7,206 · program services $2,763 · management and general $3,340 · fundraising $1,103

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,170,285 · end of year $5,264,863

  • 2 · Savings and temporary cash investments

    beginning of year $871,089 · end of year $1,174,383

  • 3 · Pledges and grants receivable

    beginning of year $112,344 · end of year $101,292

  • 4 · Accounts receivable

    beginning of year $0 · end of year $12,509

  • 9 · Prepaid expenses and deferred charges

    beginning of year $62,570 · end of year $53,427

  • 10a · Land, buildings and equipment: cost or other basis

    $96,777

  • 10b · Land, buildings and equipment: accumulated depreciation

    $79,614

  • 10c · Land, buildings and equipment, net

    beginning of year $36,369 · end of year $17,163

  • 11 · Investments: publicly traded securities

    beginning of year $904,361 · end of year $894,949

  • 13 · Investments: program-related

    beginning of year $3,725,333 · end of year $4,191,442

  • 15 · Other assets

    beginning of year $157,163 · end of year $334,285

  • 17 · Accounts payable and accrued expenses

    beginning of year $151,690 · end of year $218,475

  • 19 · Deferred revenue

    beginning of year $643,208 · end of year $2,648,846

  • 23 · Secured mortgages and notes payable

    beginning of year $1,205,049 · end of year $840,456

  • 24 · Unsecured notes and loans payable

    beginning of year $4,750,651 · end of year $5,048,980

  • 25 · Other liabilities

    beginning of year $0 · end of year $334,285

  • 27 · Net assets without donor restrictions

    beginning of year $864,353 · end of year $1,305,291

  • 28 · Net assets with donor restrictions

    beginning of year $1,424,563 · end of year $1,647,980

Mission and programs · 2022

Mission

MWF IS A COMMUNITY DEVELOPMENT ORGANIZATION WHOSE MISSION IS TO EXPAND ECONOMIC OPPORTUNITY, EMPOWER THE NEXT GENERATION, AND CELEBRATE AND HONOR THE ACCOMPLISHMENTS OF MICHIGAN WOMEN. ITS VISION IS TO CREATE AN INCLUSIVE ECONOMY FOR THE STATE OF MICHIGAN SO THAT ALL WOMEN AND GIRLS CAN REACH THEIR FULL POTENTIAL.

Activities or mission (Part I)

MWF IS A NON-PROFIT COMMUNITY DEVELOPMENT ORGANIZATION WHOSE MISSION IS TO EXPAND ECONOMIC OPPORTUNITY, EMPOWER THE NEXT GENERATION, AND CELEBRATE AND HONOR THE ACCOMPLISHMENTS OF MICHIGAN WOMEN. ITS VISION IS TO CREATE AN INCLUSIVE ECONOMY FOR THE STATE OF MICHIGAN SO THAT ALL WOMEN AND GIRLS CAN REACH THEIR FULL POTENTIAL.

  • ENTREPRENEURSHIP - INCLUDES PITCH COMPETITIONS, LENDING, PRE- AND POST- LENDING TRAINING, COACHING AND FACILITATION. THE NON-LENDING ACTIVITIES OF ENTREPRENEURSHIP ARE DESIGNED TO INTRODUCE THE BASICS OF STARTING AND BUILDING A BUSINESS. LENDING IS A FINANCING PROGRAM AVAILABLE TO ENTREPRENEURS AND SMALL BUSINESS OWNERS FOR UP TO $50,000. AS A CDFI, MWF TARGETS LOW TO MODERATE INCOME INDIVIDUALS, AFRICAN AMERICAN ENTREPRENEURS AND BUSINESS OWNERS WHO CONDUCT BUSINESS IN QUALIFYING INVESTMENT AREAS IN MICHIGAN AS DEFINED BY THE CDFI.

    Expenses $2,154,322 · Grants $217,100 · Revenue $369,855

  • ALL OTHER PROGRAMS - THIS PROGRAM IS MADE UP OF VARIOUS SMALL OTHER PROGRAMS THE ORGANIZATION CONDUCTS SUCH AS ITS MUSEUM THAT SHOWCASE THE NAMES AND STORIES OF WOMEN THAT HELPED SHAPE THE HISTORY OF MICHIGAN.

    Expenses $221,752

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Carolyn Cassin

    PRESIDENT & CEO

    Total calculated
    $266,189
    From this org
    $256,715
    From related orgs
    $0
    Other
    $9,474
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $240,715
    Bonus
    $0
    Other
    $16,000
    Deferred
    $6,459
    Nontaxable benefits
    $3,015
    Filer's total
    $266,189

  • Stephanie Naito

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Regine Beauboeuf

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Kelly Springer

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Dawn Tylkowski

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Mary Beth Kuderik

    TREASURER (TERM. 02/2023)

    Total calculated
    $0
    Hours/week
    1

  • Tonya Wells

    TREASURER (EFFECTIVE 03/2023)

    Total calculated
    $0
    Hours/week
    1

  • Alyse Martinelli

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Denise Christy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Denise Quarles

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Eleanor Walker

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jessica Hayes-Stallings

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Julie Hegedus

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kerri Miller

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kim Kersten

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kimle Nailer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Nancy Moody

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Sarah Earley

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Teresa Bingman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Tiffany Albert

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Allyson Boyle

    CHIEF FINANCIAL OFFICER

    Total calculated
    $174,084
    From this org
    $160,694
    From related orgs
    $0
    Other
    $13,390
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,694
    Bonus
    $0
    Other
    $0
    Deferred
    $4,642
    Nontaxable benefits
    $8,748
    Filer's total
    $174,084

  • Alexis Dishman

    CHIEF LENDING OFF. (TERM. 07/2023)

    Total calculated
    $165,237
    From this org
    $155,271
    From related orgs
    $0
    Other
    $9,966
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,271
    Bonus
    $0
    Other
    $0
    Deferred
    $4,553
    Nontaxable benefits
    $5,413
    Filer's total
    $165,237

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

  • 1a · Health or social club dues or initiation fees
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Approval by the board or compensation committee

Answered no

  • 1b · Written policy on the line-1a expenses
  • 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)

PART I, LINE 1B
PAYMENT FOR DAC SOCIAL CLUB FEE IS PART OF THE CEO CONTRACT EFF 1/1/2022.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
27 March 2024
IRS schema version
2022v5.0
Source object
202420879349301402

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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