Skip to content
Nonprofiteer
← MICHIGAN TECH FUND

Form 990 for tax year 2023

Filed by MICHIGAN TECH FUND.

Totals

Total revenue
$27,066,650
Total expenses
$20,325,951
Contributions and grants received
$20,453,786
Grants paid
$19,479,935
Program service revenue
$0
Investment income
$6,523,211
Other revenue
$89,653
Total assets, end of year
$238,523,751
Total liabilities, end of year
$16,928,381
Net assets or fund balances, end of year
$221,595,370
Program services expenses (Part IX)
$19,479,935
Management and general expenses
$846,016
Fundraising expenses
$0
Program service expenses (Part III)
$19,479,935

Program services were 95.8% 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

    $20,453,786

  • 1g · Noncash contributions included above

    $1,425,237

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $3,884,866 · excluded $3,884,866

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $26,131,999

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

    securities $23,493,654

  • 7c · Gain or loss

    securities $2,638,345 · other assets $0

  • 7d · Net gain or loss

    total $2,638,345 · excluded $2,638,345

  • 11a · Other revenue: Miscellaneous

    total $89,653 · related or exempt $89,653

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $89,653

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $19,479,935 · program services $19,479,935

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 11f · Fees: investment management

    total $502,694 · management and general $502,694

  • 11g · Fees: other

    total $327,505 · program services $0 · management and general $327,505 · fundraising $0

  • 13 · Office expenses

    total $15,817 · management and general $15,817

  • 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 $11,841,663 · end of year $11,413,666

  • 3 · Pledges and grants receivable

    beginning of year $19,227,172 · end of year $21,529,650

  • 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 $126,811,692 · end of year $130,372,401

  • 12 · Investments: other securities

    beginning of year $55,324,326 · end of year $65,925,530

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $9,016,291 · end of year $9,280,282

  • 17 · Accounts payable and accrued expenses

    beginning of year $18,721 · end of year $272,097

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $16,284,028 · end of year $16,656,284

  • 27 · Net assets without donor restrictions

    beginning of year $9,916,770 · end of year $10,701,756

  • 28 · Net assets with donor restrictions

    beginning of year $196,003,847 · end of year $210,893,614

Mission and programs · 2023

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 $14,722,223 · Grants $14,722,223

  • The Michigan Tech Fund awards approximately 1,000 scholarships and fellowships to Michigan Technological University.

    Expenses $4,757,712 · Grants $4,757,712

As filed on the 2023 return.

Listed in Part VII

  • Richard Koubek

    President

    Total calculated
    $0

  • William Roberts

    Vice President

    Total calculated
    $0

  • Brenda Ryan

    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

  • Michael Pulick

    Chair

    Total calculated
    $0

  • Nicolas Stevens

    Director

    Total calculated
    $0

  • Steve Tomaszewski

    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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202531359349309268

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

The source document this was parsed from is served over the API, which is where bulk and document access live.