Michigan Community Capital

Organization Overview

Michigan Community Capital is located in Lansing, MI. The organization was established in 2004. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Michigan Community Capital employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan Community Capital 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 12/2022, Michigan Community Capital generated $4.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 29.5% each year . All expenses for the organization totaled $6.0m during the year ending 12/2022. While expenses have increased by 38.7% per year over the past 7 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.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE MISSION OF MICHIGAN COMMUNITY CAPITAL IS TO PROVIDE LOW-COST, FLEXIBLE FINANCIAL PRODUCTS COUPLED WITH ADVISORY SERVICES TO CREATE AND PRESERVE AFFORDABLE HOUSING AND INVEST IN JOB-CREATING, COMMUNITY-DRIVEN ECONOMIC DEVELOPMENT PROJECTS FOR THE BENEFIT OF LOW-AND MODERATE INCOME RESIDENTS AND COMMUNITIES IN MICHIGAN.

Describe the Organization's Program Activity:

FACILITATING AND MANAGING ALL NMTC INVESTMENTS


FACILITATING AND MANAGING INVESTMENTS IN AFFORDABLE HOUSING AND OTHER NON-NMTC COMMUNITY DEVELOPMENT PROJECTS


PROVIDING SUPPORT AND ADVISORY SERVICES TO OTHER COMMUNITY DEVELOPMENT ORGANIZATIONS


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Board, Officers & Key Employees

Name (title)Compensation
Eric Hanna
President & Ceo; Director
$225,426
Mark Morante
Chairperson
$0
Mary King
Vice Chairperson
$0
Jamie Schriner
Treasurer
$0
Richard Hosey
Secretary
$0
Karl Dorshimer
Director
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Mcshane Bowie
Legal Services
$220,644
Dk Design Group
Architect Services
$434,134
Sb Friedman Development Advisors Llc
Consulting Services
$762,250
Plante Moran
Accounting & Consulting Services
$115,335
Craftsman Technology Group
It Consulting Services
$204,911
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $752,079
All other contributions, gifts, grants, and similar amounts not included above$688,716
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,440,795
Total Program Service Revenue$3,944,254
Investment income $197,957
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$1,210,702
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $4,447,895

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