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Nonprofiteer
← MICHIGAN FOUNDERS FUND

Form 990 for tax year 2023

Filed by MICHIGAN FOUNDERS FUND.

Totals

Total revenue
$1,171,501
Total expenses
$1,148,589
Contributions and grants received
$1,168,392
Grants paid
$200,000
Program service revenue
$0
Investment income
$3,109
Other revenue
$0
Total assets, end of year
$420,972
Total liabilities, end of year
$16,794
Net assets or fund balances, end of year
$404,178
Program services expenses (Part IX)
$898,729
Management and general expenses
$193,722
Fundraising expenses
$56,138
Program service expenses (Part III)
$898,729

Program services were 78.2% 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.

  • 1f · All other contributions, gifts and grants

    $1,168,392

  • 3 · Investment income

    total $3,109 · excluded $3,109

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $200,000 · program services $200,000

  • 7 · Other salaries and wages

    total $301,975 · program services $192,149 · management and general $60,394 · fundraising $49,432

  • 9 · Other employee benefits

    total $40,134 · program services $25,402 · management and general $8,026 · fundraising $6,706

  • 10 · Payroll taxes

    total $23,492 · management and general $23,492

  • 11g · Fees: other

    total $56,851 · program services $16,931 · management and general $39,920

  • 12 · Advertising and promotion

    total $61,175 · program services $61,175

  • 13 · Office expenses

    total $16,194 · program services $10,549 · management and general $5,645

  • 16 · Occupancy

    total $72,910 · program services $70,498 · management and general $2,412

  • 19 · Conferences, conventions and meetings

    total $306,337 · program services $306,337

  • 23 · Insurance

    total $1,932 · program services $264 · management and general $1,668

  • 24a · Other expenses: MISCELLANEOUS

    total $52,165 · management and general $52,165

  • 24b · Other expenses: OTHER EXPENSE

    total $7,761 · program services $7,761

  • 24c · Other expenses: GUEST SPEAKERS

    total $5,250 · program services $5,250

  • 24d · Other expenses: SUPPLIES AND MATERIALS

    total $2,413 · program services $2,413

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $347,216 · end of year $408,456

  • 4 · Accounts receivable

    beginning of year $40,337 · end of year $12,516

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $10,271

  • 24 · Unsecured notes and loans payable

    beginning of year $6,287 · end of year $6,523

  • 27 · Net assets without donor restrictions

    beginning of year $381,266 · end of year $404,178

Mission and programs · 2023

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.

  • 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.

    Expenses $898,729 · Grants $200,000

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

Listed in Part VII

  • Trista Van Tine

    EXECUTIVE DIRECTOR

    Total calculated
    $134,303
    From this org
    $134,303
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Dug Song

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Bhushan Kulkarni

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Adrian Fortino

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Katy Locker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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.

Grants on this return

  • TOTAL REENTRY SOLUTIONS

    $50,000

    2023 MTW PITCH WINNER - MFF COMPETITION

  • PEADBO INC

    $50,000

    2022 VENTURE COMP WINNER

  • BETTERPLAY STUDIOS

    $50,000

    2023 MTW PITCH WINNER - MFF COMPETITION

  • EPISLS INC

    $15,000

    2023 MTW PITCH WINNER - MLSEA COMPETITION

Provenance

Return type
form_990
Tax year
2023
Filed
5 November 2024
IRS schema version
2023v5.1
Source object
202403129349303910

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