Totals
- Total revenue
- $20,705,355
- Total expenses
- $14,627,996
- Contributions and grants received
- $16,284,778
- Grants paid
- $13,689,913
- Program service revenue
- $0
- Investment income
- $4,301,965
- Other revenue
- $118,612
- Total assets, end of year
- $222,223,366
- Total liabilities, end of year
- $16,302,749
- Net assets or fund balances, end of year
- $205,920,617
- Program services expenses (Part IX)
- $13,689,913
- Management and general expenses
- $873,083
- Fundraising expenses
- $65,000
- Program service expenses (Part III)
- $13,689,913
Program services were 93.6% 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
$16,284,778
-
1g · Noncash contributions included above
$2,131,846
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $3,385,429 · excluded $3,385,429
-
6c · Rental income or loss
real property $0 · personal property $0
-
7a · Gross sales of assets other than inventory
securities $29,260,381
-
7b · Less cost or other basis and sales expenses
securities $28,343,845
-
7c · Gain or loss
securities $916,536 · other assets $0
-
7d · Net gain or loss
total $916,536 · excluded $916,536
-
11a · Other revenue: Miscellaneous
total $118,612 · related or exempt $118,612
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$118,612
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $13,689,913 · program services $13,689,913
-
11f · Fees: investment management
total $485,556 · management and general $485,556
-
11g · Fees: other
total $366,620 · program services $0 · management and general $366,620 · fundraising $0
-
13 · Office expenses
total $85,907 · management and general $20,907 · fundraising $65,000
-
24e · All other expenses
total $0 · program services $0 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,222 · end of year $2,222
-
2 · Savings and temporary cash investments
beginning of year $10,225,371 · end of year $11,841,663
-
3 · Pledges and grants receivable
beginning of year $19,068,420 · end of year $19,227,172
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$0
-
10b · Land, buildings and equipment: accumulated depreciation
$0
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $0
-
11 · Investments: publicly traded securities
beginning of year $122,049,547 · end of year $126,811,692
-
12 · Investments: other securities
beginning of year $49,765,647 · end of year $55,324,326
-
13 · Investments: program-related
beginning of year $0
-
15 · Other assets
beginning of year $9,477,507 · end of year $9,016,291
-
17 · Accounts payable and accrued expenses
beginning of year $292,965 · end of year $18,721
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $16,416,477 · end of year $16,284,028
-
27 · Net assets without donor restrictions
beginning of year $9,189,209 · end of year $9,916,770
-
28 · Net assets with donor restrictions
beginning of year $184,690,063 · end of year $196,003,847
Mission and programs · 2022
Mission
Receives, invests, and disburse contributions raised to support Michigan Technological University.
Activities or mission (Part I)
Receives, invests, and disburses contributions raised to support Michigan Technological University.
-
The Michigan Tech Fund provides financial support to all Michigan Technological University's academic units and to its infrastructure.
Expenses $10,122,012 · Grants $10,122,012
-
The Michigan Tech Fund awards approximately 1,000 scholarships and fellowships to Michigan Technological University.
Expenses $3,567,901 · Grants $3,567,901
As filed on the 2022 return.
Listed in Part VII
-
Richard Koubek
President
- Total calculated
- $0
-
William Roberts
Vice President
- Total calculated
- $0
-
David Reed
Director
- Total calculated
- $0
-
James Parm
Director
- Total calculated
- $0
-
Jeffrey Littmann
Director
- Total calculated
- $0
-
Jon Jipping
Director
- Total calculated
- $0
-
Karl LaPeer
Director
- Total calculated
- $0
-
Matthew Johnson
Director
- Total calculated
- $0
-
Michael Pulick
Chair
- Total calculated
- $0
-
Robert Tripp
Director
- Total calculated
- $0
-
Julie Seppala
Treasurer
- Total calculated
- $0
-
Karla Aho
Secretary
- Total calculated
- $0
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
-
Michigan Technological University
$12,468,567
support programs
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 Technological University
501(c)(1) · Higher education · MI
Directly controlled by NA
-
Michigan Tech Fund Support Organization
501(c)(3) · Supporting org · MI
Directly controlled by MI Tech Fund
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202401369349310665
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