Business Leaders For Michigan
- Assets
- $7.3m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 10
- Location
- Detroit, MI
- Founding
- 04/1971
- Data as of
- 12/2021
- EIN
- 38-1941576
Organization Overview
Business Leaders For Michigan is located in Detroit, MI. The organization was established in 1971. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Business Leaders For Michigan employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Business Leaders For Michigan is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Business Leaders For Michigan generated $5.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $3.7m during the year ending 12/2021. While expenses have increased by 1.5% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
BUSINESS LEADERS FOR MICHIGAN, THE STATE'S BUSINESS ROUNDTABLE, IS DEDICATED TO MAKING MICHIGAN A "TOP TEN" STATE FOR JOBS, PERSONAL INCOME AND A HEALTHY ECONOMY. THE ORGANIZATION IS COMPOSED EXCLUSIVELY OF THE CHAIRPERSONS, CHIEF EXECUTIVE OFFICERS, OR MOST SENIOR EXECUTIVES OF MICHIGAN'S LARGEST COMPANIES AND UNIVERSITIES. OUR MEMBERS DRIVE NEARLY ONE-THIRD OF THE STATE'S ECONOMY, PROVIDE 390,000 DIRECT JOBS IN MICHIGAN, GENERATE OVER $1 TRILLION IN ANNUAL REVENUE AND SERVE NEARLY HALF OF ALL MICHIGAN PUBLIC UNIVERSITY STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADVANCED THE MICHIGAN ROAD TO TOP TEN PLAN: - CREATED LAUNCH MICHIGAN COALITION OF BUSINESS, LABOR AND PHILANTHROPY.- TO IMPROVE K-12 EDUCATION OUTCOMES AND DIRECT MORE FUNDING TO THE CLASSROOM.- DEVELOPED ADDITIONAL STRATEGIES TO IMPROVE THE WORKFORCE DEVELOPMENT SYSTEM.- CREATED A SPECIAL COVID-19 WEBSITE, MATERIALS, BEST PRACTICES AND OTHER TOOLS FOR MEMBERS AND OTHER BUSINESSES TO USE; HELD TOWN HALLS TO SHARE UP-TO-DATE INFORMATION ON THE PANDEMIC AND BEST PRACTICES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Donorfio President | OfficerTrustee | 40 | $427,728 |
Sabrina Keeley Coo/treasurer/secretary | Officer | 40 | $299,861 |
Jennifer Nelson Vice President | Officer | 40 | $227,803 |
Timothy Sowton Vice President | Officer | 40 | $223,928 |
Gabriel Rodriguez-Garriga Vice President | 40 | $115,044 | |
Gerard M Anderson Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Futureworks Consulting Services | 12/30/20 | $105,951 |
Korn Ferry Executive Search Services | 12/30/20 | $176,885 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,726,075 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,726,075 |
| Total Program Service Revenue | $450 |
| Investment income | $1,592,411 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,318,936 |
| 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. | $1,396,728 |
| Compensation of current officers, directors, key employees. | $462,971 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $208,882 |
| Pension plan accruals and contributions | $231,159 |
| Other employee benefits | $244,340 |
| Payroll taxes | $90,609 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,110 |
| Fees for services: Accounting | $164,824 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $168,692 |
| Advertising and promotion | $0 |
| Office expenses | $101,583 |
| Information technology | $46,549 |
| Royalties | $0 |
| Occupancy | $50,328 |
| Travel | $74,671 |
| 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 | $18,684 |
| Insurance | $0 |
| All other expenses | $30,670 |
| Total functional expenses | $3,666,573 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $849,693 |
| Savings and temporary cash investments | $94,906 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $92 |
| 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 | $42,084 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,349,337 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,336,112 |
| Accounts payable and accrued expenses | $403,851 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $87,500 |
| Total liabilities | $491,351 |
| Net assets without donor restrictions | $6,844,761 |
| 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 | $7,336,112 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Business Leaders For Michigan has recieved totaling $3,000.
| Awarding Organization | Amount |
|---|---|
Wolverine World Wide Foundation Rockford, MI PURPOSE: OTHER - GENERAL PURPOSES CONTRIBUTION TO SUPPORT THE EXEMPT PURPOSES OF THE ORGANIZATION. NOT LIMITED TO ANY SPECIFIC PROGRAM OF THE ORGANIZATION. | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Circle Incorporated Cleveland, OH | $134,622,719 | $18,118,457 |
Foundation For Detroits Future Detroit, MI | $47,892,805 | $26,320,980 |
Economic And Community Development Institute Inc Columbus, OH | $78,355,876 | $19,971,101 |
West Ohio Community Action Partnership Lima, OH | $6,981,623 | $15,279,840 |
Community Action Program Commission Of The Lancaster-Fairfield County Lancaster, OH | $11,087,648 | $12,770,614 |
West Central Wisconsin Community Action Agency Inc Glenwood City, WI | $21,268,900 | $13,007,959 |
Community Action Coaltion For South Central Wisconsin Inc Madison, WI | $4,809,920 | $12,236,312 |
Leads Newark, OH | $16,589,702 | $10,298,274 |
Blue Water Community Action Port Huron, MI | $3,539,859 | $9,991,743 |
Community Action Commission Of Fayette County Washington Court House, OH | $10,620,828 | $9,688,038 |
Downtown Cleveland Alliance Cleveland, OH | $4,884,612 | $9,424,862 |
Community Action Inc Of Rock And Walworth Counties Beloit, WI | $10,640,793 | $9,364,558 |