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← MICHIGAN STATE CHAMBER FOUNDATION

Form 990 for tax year 2022

Filed by MICHIGAN STATE CHAMBER FOUNDATION.

Totals

Total revenue
$780,858
Total expenses
$752,859
Contributions and grants received
$739,008
Grants paid
$0
Program service revenue
$41,226
Investment income
$0
Other revenue
$624
Total assets, end of year
$216,505
Total liabilities, end of year
$96,542
Net assets or fund balances, end of year
$119,963
Program services expenses (Part IX)
$565,847
Management and general expenses
$187,012
Fundraising expenses
$0
Program service expenses (Part III)
$565,847

Program services were 75.2% 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

    $67,092

  • 1e · Government grants (contributions)

    $471,460

  • 1f · All other contributions, gifts and grants

    $200,456

  • 2a · Program service revenue: PROGRAM SERVICES

    total $41,226 · related or exempt $41,226

  • 11a · Other revenue: OTHER INCOME

    total $624 · related or exempt $624

  • 11e · Other revenue, total

    $624

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $146,903 · management and general $146,903

  • 9 · Other employee benefits

    total $14 · management and general $14

  • 11b · Fees: legal

    total $15,000 · management and general $15,000

  • 11c · Fees: accounting

    total $9,810 · management and general $9,810

  • 12 · Advertising and promotion

    total $11,605 · management and general $11,605

  • 13 · Office expenses

    total $3,492 · management and general $3,492

  • 17 · Travel

    total $90 · management and general $90

  • 19 · Conferences, conventions and meetings

    total $26,589 · program services $26,589

  • 24a · Other expenses: PROGRAM EXPENSES

    total $539,258 · program services $539,258

  • 24b · Other expenses: MISCELLANEOUS EXPENSE

    total $83 · management and general $83

  • 24c · Other expenses: BAD DEBT

    total $15 · management and general $15

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $50,967 · end of year $168,187

  • 3 · Pledges and grants receivable

    beginning of year $156,922 · end of year $43,569

  • 4 · Accounts receivable

    end of year $249

  • 9 · Prepaid expenses and deferred charges

    end of year $4,500

  • 17 · Accounts payable and accrued expenses

    beginning of year $28,330 · end of year $79,317

  • 19 · Deferred revenue

    beginning of year $4,385

  • 25 · Other liabilities

    beginning of year $16,118 · end of year $17,225

  • 27 · Net assets without donor restrictions

    beginning of year $149,056 · end of year $119,963

  • 28 · Net assets with donor restrictions

    beginning of year $10,000 · end of year $0

Mission and programs · 2022

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 $565,847 · Revenue $41,850

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

Listed in Part VII

  • James Holcomb

    PRESIDENT

    Total calculated
    $487,057
    From this org
    $0
    From related orgs
    $435,427
    Other
    $51,630
    Hours/week
    10 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $432,877 related
    Bonus
    $0
    Other
    $0 + $2,550 related
    Deferred
    $0 + $27,000 related
    Nontaxable benefits
    $0 + $24,630 related
    Filer's total
    $0 + $487,057 related

  • Mike Puerner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.1 related

  • Mark Lockwood

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.1 related

  • Patrick Duerr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.1 related

  • Robert Mannes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.1 related

  • Nancy Hagan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.1 related

  • Kevin Kolevar

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.1 related

  • David Lewis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.1 related

  • Angela McBride

    CHAIR (ENDED 12/31/22)

    Total calculated
    $0
    Hours/week
    0.1 + 0.1 related

  • Kurtis Wilder

    CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 0.1 related

  • Eric Eishen

    TREASURER

    Total calculated
    $0
    Hours/week
    0.2 + 0.6 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.

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
2022
Filed
25 April 2024
IRS schema version
2022v5.0
Source object
202441299349301514

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