Midland Business Alliance Foundation
- Assets
- $9.7m
- Revenue
- $5.0m
- Investments
- $308.1k
- Employees
- 0
- Location
- Midland, MI
- Founding
- 12/1985
- Data as of
- 12/2023
- EIN
- 38-2600199
Organization Overview
Midland Business Alliance Foundation is located in Midland, MI. The organization was established in 1985. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midland Business Alliance 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 12/2023, Midland Business Alliance Foundation generated $5.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 21.2% each year . All expenses for the organization totaled $2.9m during the year ending 12/2023. While expenses have increased by 15.0% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE THE QUALITY OF LIFE FOR MIDLAND COUNTY RESIDENTS THROUGH THE RETENTION AND CREATION OF QUALITY JOBS AND DIVERSIFICATION OF THE ECONOMIC BASE.
Describe the Organization's Program Activity:
ECONOMIC DEVELOPMENT - PROVIDES SERVICES AND ADMINISTERS PROJECTS DESIGNED TO ENCOURAGE ECONOMIC DEVELOPMENT WITHIN THE COUNTY OF MIDLAND, MICHIGAN.
THE MIDLAND BUSINESS ALLIANCE FOUNDATION, PROVIDES SERVICES AND ADMINISTERS PROJECTS DESIGNED TO SUPPORT THE ATTRACTION, DEVELOPMENT, AND GROWTH OF BUSINESSES AND INDIVIDUALS THROUGHOUT THE COUNTY OF MIDLAND, MICHIGAN BY PROVIDING AN INTEGRATED PORTFOLIO OF TOOLS AND RESOURCES. WORKS FOR THE GENERAL BETTERMENT AND IMPROVEMENT OF THE COUNTY.
TECHNOLOGY SUPPORT CONSISTS OF MITCON, LLC, A CONSORTIUM BASED IT SERVICE PROVIDER PRIMARILY SERVICING NON-PROFIT ORGANIZATIONS. STAFF PROVIDES IT SUPPORT, HELPDESK, LOW COST FIBER AND EQUIPMENT SALES AND SERVICES.
BLOOMS - ANNUAL BEAUTIFICATION PROGRAM WHERE 2.5 MILES OF A MAIN MIDLAND CITY STREET (EASTMAN ROAD CORRIDOR) IS PLANTED WITH FLOWERS ON BOTH SIDES OF THE ROAD. THIS PROGRAM BRINGS HUNDREDS OF COMMUNITY VOLUNTEERS TOGETHER FOR A ONE-DAY SERVICE PROJECT. THE FLOWERS ARE MAINTAINED THROUGH AN AGREEMENT WITH THE CITY OF MIDLAND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tony Stamas President | Officer | 1 | $0 |
Roger Chamberlin CFO | Officer | 1 | $0 |
Mark Bone Director | Trustee | 1 | $0 |
Diane Bristol Director | Trustee | 1 | $0 |
Jenni Bush Director | Trustee | 1 | $0 |
Rob Chadwick Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $335,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,226,293 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,561,293 |
| Total Program Service Revenue | $820,953 |
| Investment income | $182,880 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $34,713 |
| Net Gain/Loss on Asset Sales | -$20,355 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $17,962 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,986,528 |
| 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 | $950,572 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $72,015 |
| Payroll taxes | $138,106 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,576 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $297,526 |
| Advertising and promotion | $31,611 |
| Office expenses | $20,108 |
| Information technology | $2,355 |
| Royalties | $0 |
| Occupancy | $44,329 |
| Travel | $3,953 |
| 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 | $111,642 |
| Insurance | $12,987 |
| All other expenses | $11,534 |
| Total functional expenses | $2,929,108 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,715,698 |
| Savings and temporary cash investments | $430,766 |
| Pledges and grants receivable | $843,050 |
| Accounts receivable, net | $897,509 |
| 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 | $61,872 |
| Net Land, buildings, and equipment | $3,269,075 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $308,086 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $154,853 |
| Total assets | $9,680,909 |
| Accounts payable and accrued expenses | $1,124,694 |
| Grants payable | $0 |
| Deferred revenue | $19,033 |
| 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 | $0 |
| Total liabilities | $1,143,727 |
| Net assets without donor restrictions | $6,972,493 |
| Net assets with donor restrictions | $1,564,689 |
| 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 | $9,680,909 |