Michigan Israel Business Accelerator Foundation
- Assets
- $1.0m
- Revenue
- $293.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Southfield, MI
- Founding
- 01/2011
- Data as of
- 12/2021
- EIN
- 27-3157523
Organization Overview
Michigan Israel Business Accelerator Foundation is located in Southfield, MI. The organization was established in 2011. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan Israel Business Accelerator Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Michigan Israel Business Accelerator Foundation generated $293.8k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 35.1% each year . All expenses for the organization totaled $272.0k during the year ending 12/2021. While expenses have increased by 30.3% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MICHIGAN ISRAEL BUSINESS ACCELERATOR FOUNDATION ("MIBAF") IS A NON-PROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ESTABLISHED TO PROMOTE COMMERCE AND INDUSTRY BETWEEN ISRAEL AND MICHIGAN. SINCE ESTABLISHMENT, MIBAF HAS WORKED TO ATTRACT HIGH-GROWTH ISRAELI TECHNOLOGY COMPANIES FROM ISRAEL TO PURSUE BUSINESS EXPANSION OPPORTUNITIES IN MICHIGAN, AS WELL AS TO EDUCATE AND ATTRACT MICHIGAN HIGH-GROWTH TECHNOLOGY COMPANIES TO PURSUE BUSINESS IN ISRAEL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE PANDEMIC IN 2021, MIBAF AND ITS AFFLIATED ORGANIZATION, THE MICHIGAN ISRAEL BUSINESS ACCELERATOR ("MIBA"), SUPPORTED OVER 400 COMPANIES, FOSTERING 212 CONNECTS, 206 CONNECTIONS, AND 16 SUCCESSFUL COLLABORATIONS. THROUGH BUSINESS CONNECTIONS AND VIRTUAL PROGRAMMING, MIBAF AND MIBA CONTINUED ADVANCING WORKING RELATIONSHIPS WITH ECONOMIC DEVELOPMENT ENTITIES ACROSS THE STATE OF MICHIGAN AND IN ISRAEL AND HELD MULTIPLE VIRTUAL COMMUNITY ENGAGEMENT EVENTS DESIGNED TO PROMOTE A BETTER UNDERSTANDING OF THE BUSINESS OPPORTUNITIES BETWEEN MICHIGAN AND ISRAEL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beth Chappell Secretary | OfficerTrustee | 1 | $0 |
Mark Davidoff Chair | OfficerTrustee | 2.5 | $0 |
Mike Dergis Treasurer | OfficerTrustee | 1.5 | $0 |
Scott Hiipakka Chief Executive Officer | Officer | 20 | $0 |
Diane Smith Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $32,000 |
| Fundraising events | $49,350 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $230,994 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $312,344 |
| Total Program Service Revenue | $0 |
| Investment income | $380 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$18,875 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $293,849 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $270,808 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,185 |
| Total functional expenses | $271,993 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,025,038 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $8,935 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,033,973 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $5,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $129,550 |
| Total liabilities | $134,550 |
| Net assets without donor restrictions | $899,423 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,033,973 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Michigan Israel Business Accelerator Foundation has recieved totaling $5.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Automation Alley Troy, MI | $10,050,141 | $14,162,417 |
International Automotive Oversight Bureau Southfield, MI | $23,323,319 | $7,456,066 |
Ohio Community Development Finance Fund Columbus, OH | $57,278,842 | $7,712,446 |
Cincinnati Better Business Bureau Inc Cincinnati, OH | $1,847,305 | $4,143,788 |
Battle Creek Unlimited Inc Battle Creek, MI | $30,442,185 | $6,639,976 |
American Academy Of Emergency Medicine Inc Milwaukee, WI | $5,226,963 | $3,404,237 |
Better Business Bureau Of Wisconsin Inc Milwaukee, WI | $5,171,220 | $3,579,852 |
Uptown Reinvestment Corporation Inc Flint, MI | $86,466,656 | $7,223,856 |
Great Lakes Womens Business Council Livonia, MI | $4,549,211 | $2,702,361 |
American Alliance Of Orthopaedic Executives Inc Indianapolis, IN | $1,277,728 | $2,372,301 |
Better Business Bureau Of Western Michigan Inc Grand Rapids, MI | $2,011,016 | $2,272,274 |
Better Business Bureau Of Toledo Inc Toledo, OH | $3,159,147 | $2,296,874 |