Form 990 for tax year 2022
Filed by MICHIGAN ECONOMIC DEVELOPMENT FOUNDATION.
Totals
- Total revenue
- $934,993
- Total expenses
- $757,498
- Contributions and grants received
- $929,750
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $769
- Other revenue
- $4,474
- Total assets, end of year
- $1,233,709
- Total liabilities, end of year
- $155
- Net assets or fund balances, end of year
- $1,233,554
- Program services expenses (Part IX)
- $611,697
- Management and general expenses
- $52,551
- Fundraising expenses
- $93,250
- Program service expenses (Part III)
- $611,697
Program services were 80.8% 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
$929,750
-
3 · Investment income
total $769 · excluded $769
-
11a · Other revenue: MISCELLANEOUS
total $4,474 · excluded $4,474
-
11e · Other revenue, total
$4,474
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $93,250 · fundraising $93,250
-
11a · Fees: management
total $3,998 · management and general $3,998
-
11b · Fees: legal
total $3,465 · management and general $3,465
-
11c · Fees: accounting
total $37,150 · management and general $37,150
-
12 · Advertising and promotion
total $1,544 · management and general $1,544
-
19 · Conferences, conventions and meetings
total $316,753 · program services $316,753
-
23 · Insurance
total $4,916 · management and general $4,916
-
24a · Other expenses: CLIENT DEVELOPMENT
total $294,944 · program services $294,944
-
24b · Other expenses: MISCELLANEOUS
total $1,478 · management and general $1,478
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $959,857 · end of year $1,174,347
-
3 · Pledges and grants receivable
beginning of year $96,250 · end of year $25,000
-
4 · Accounts receivable
end of year $30,060
-
9 · Prepaid expenses and deferred charges
beginning of year $4,302 · end of year $4,302
-
17 · Accounts payable and accrued expenses
beginning of year $4,350 · end of year $155
-
27 · Net assets without donor restrictions
beginning of year $1,049,809 · end of year $1,033,554
-
28 · Net assets with donor restrictions
beginning of year $6,250 · end of year $200,000
Mission and programs · 2022
Mission
TO LESSEN THE BURDEN OF THE GOVERNMNT OF THE STATE OF MICHIGAN, TO PROMOTE THE PUBLIC WELFARE, AND TO RELIEVE THE CONDITION OF HIGH UNEMPLOYMENT IN THE STATE OF MICHIGAN.
Activities or mission (Part I)
TO LESSEN THE BURDEN OF THE GOVERNMENT OF THE STATE OF MICHIGAN, TO PROMOTE THE PUBLIC WELFARE
-
IINVESTMENT MISSIONS TO POSITION MICHIGAN AS THE PREMIER LOCATION IN NORTH AMERICA FOR INTERNATIONAL COMPANIES IN TARGETED INDUSTRY SECTORS. THESE MISSIONS ARE CONDUCTED BY KEY ECONOMIC DEVELOPMENT OFFICIALS TO TARGET SELECT COMPANIES AND EVENTS ABROAD, INCLUDING SIX MISSIONS THAT OCCURED IN 2022.
Expenses $316,753
-
EVENTS, RECEPTIONS, & CONFERENCES TO PROMOTE ECONOMIC DEVELOPMENT IN MICHIGAN. IN 2022 THESE EVENTS WERE ATTENDED BY MORE THAN 7,500 PARTICIPANTS, INCLUDING BUSINESS REPS AND NATIONAL AND INTERNATIONAL AUTOMOTIVE SUPPLIERS.
Expenses $294,944
-
COLLABORATION WITH OTHER LOCAL AND PRIVATE ENTITIES STRIVING TO ENSURE GROWTH AND PROVIDE AN ECONOMIC BOOST AND ENTERTAINMENT TO LOCAL COMMUNITIES.
As filed on the 2022 return.
Listed in Part VII
-
GRETCHEN WHITMER
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 0.5
-
TRICIA A KEITH
PRESIDENT
- Total calculated
- $0
- Hours/week
- 0.5
-
JEFF STOUTENBURG
VICE PRESIDEN
- Total calculated
- $0
- Hours/week
- 0.5
-
RICK LANTZ
TREASURER
- Total calculated
- $0
- Hours/week
- 0.5
-
JOSEPH ROHATYNSKI
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
MARK A JONES
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
KELLY M HALL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
SARAH GONZALES
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
ROBERT F TOWNSEND
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
LYNETTE DOWLER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
GABBY BRUNO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
BRIAN O'CONNELL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
MARC R CORRIVEAU
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
SHELLEY KLUG
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
CYNTHIA STUMP
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
JOHN VANFOSSEN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
JAMES E COLEMAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
PHIL YEITER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
MIKE VANGESSEL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
VALERIE KNOL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
NICK SITARSKI
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
ELEANOR REECE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
ASHLEY VAN EK - TEN BRINK
SECRETARY/ EXECUTIVE DIRECTOR
- Total calculated
- $93,250
- From this org
- $93,250
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.5
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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 1 August 2023
- IRS schema version
- 2022v5.0
- Source object
- 202332279349301438
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