The Michigan Womens Foundation
- Assets
- $12.0m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 25
- Location
- Detroit, MI
- Founding
- 11/1986
- Data as of
- 09/2023
- EIN
- 38-2689979
Organization Overview
The Michigan Womens Foundation, operating under the name Michigan Women Forward, is located in Detroit, MI. The organization was established in 1986. According to its NTEE Classification (P12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Human Services and related organizations. As of 09/2023, Michigan Women Forward employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan Women Forward 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 09/2023, Michigan Women Forward generated $4.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $3.4m during the year ending 09/2023. While expenses have increased by 11.1% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
MWF IS A NON-PROFIT COMMUNITY DEVELOPMENT ORGANIZATION WHOSE MISSION IS TO EXPAND ECONOMIC OPPORTUNITY, EMPOWER THE NEXT GENERATION, AND CELEBRATE AND HONOR THE ACCOMPLISHMENTS OF MICHIGAN WOMEN. ITS VISION IS TO CREATE AN INCLUSIVE ECONOMY FOR THE STATE OF MICHIGAN SO THAT ALL WOMEN AND GIRLS CAN REACH THEIR FULL POTENTIAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENTREPRENEURSHIP - INCLUDES PITCH COMPETITIONS, LENDING, PRE- AND POST- LENDING TRAINING, COACHING AND FACILITATION. THE NON-LENDING ACTIVITIES OF ENTREPRENEURSHIP ARE DESIGNED TO INTRODUCE THE BASICS OF STARTING AND BUILDING A BUSINESS. LENDING IS A FINANCING PROGRAM AVAILABLE TO ENTREPRENEURS AND SMALL BUSINESS OWNERS FOR UP TO $50,000. AS A CDFI, MWF TARGETS LOW TO MODERATE INCOME INDIVIDUALS, AFRICAN AMERICAN ENTREPRENEURS AND BUSINESS OWNERS WHO CONDUCT BUSINESS IN QUALIFYING INVESTMENT AREAS IN MICHIGAN AS DEFINED BY THE CDFI.
ALL OTHER PROGRAMS - THIS PROGRAM IS MADE UP OF VARIOUS SMALL OTHER PROGRAMS THE ORGANIZATION CONDUCTS SUCH AS ITS MUSEUM THAT SHOWCASE THE NAMES AND STORIES OF WOMEN THAT HELPED SHAPE THE HISTORY OF MICHIGAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carolyn Cassin President & CEO | OfficerTrustee | 40 | $256,715 |
Stephanie Naito Immediate Past Chair | OfficerTrustee | 2 | $0 |
Regine Beauboeuf Chair | OfficerTrustee | 1 | $0 |
Kelly Springer Vice Chair | OfficerTrustee | 1 | $0 |
Dawn Tylkowski Secretary | OfficerTrustee | 1 | $0 |
Mary Beth Kuderik Treasurer (term. 02/2023) | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $76,525 |
| Related organizations | $0 |
| Government grants | $951,656 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,145,973 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,174,154 |
| Total Program Service Revenue | $369,855 |
| Investment income | $44,871 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $76,235 |
| Net Income from Fundraising Events | $406,064 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,075,099 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $217,100 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $440,273 |
| Compensation of current officers, directors, key employees. | $113,003 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,051,880 |
| Pension plan accruals and contributions | $34,308 |
| Other employee benefits | $68,458 |
| Payroll taxes | $108,833 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $94,589 |
| Fees for services: Accounting | $101,625 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $99,974 |
| Advertising and promotion | $0 |
| Office expenses | $57,189 |
| Information technology | $5,951 |
| Royalties | $0 |
| Occupancy | $100,769 |
| Travel | $16,141 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,336 |
| Interest | $118,495 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,012 |
| Insurance | $32,591 |
| All other expenses | $7,206 |
| Total functional expenses | $3,410,744 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,264,863 |
| Savings and temporary cash investments | $1,174,383 |
| Pledges and grants receivable | $101,292 |
| Accounts receivable, net | $12,509 |
| 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 | $53,427 |
| Net Land, buildings, and equipment | $17,163 |
| Investments—publicly traded securities | $894,949 |
| Investments—other securities | $0 |
| Investments—program-related | $4,191,442 |
| Intangible assets | $0 |
| Other assets | $334,285 |
| Total assets | $12,044,313 |
| Accounts payable and accrued expenses | $218,475 |
| Grants payable | $0 |
| Deferred revenue | $2,648,846 |
| 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 | $840,456 |
| Unsecured mortgages and notes payable | $5,048,980 |
| Other liabilities | $334,285 |
| Total liabilities | $9,091,042 |
| Net assets without donor restrictions | $1,305,291 |
| Net assets with donor restrictions | $1,647,980 |
| 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 | $12,044,313 |
Grants Awarded
Over the last fiscal year, The Michigan Womens Foundation has awarded $20,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GIRL SCOUTS OF SOUTHEASTERN MICHIGAN PURPOSE: SUPPORT | $10,000 |
FIERCE PURPOSE: SUPPORT | $10,000 |