The Michigan Womens Foundation
- Assets
- $9.0m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 22
- Location
- Detroit, MI
- Founding
- 11/1986
- Data as of
- 09/2022
- 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 09/2022, Michigan Women Forward employed 22 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 09/2022, Michigan Women Forward generated $2.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $2.7m during the year ending 09/2022. While expenses have increased by 9.3% 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
2022
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 WOMEN ENTREPRENEURS AND SMALL BUSINESS OWNERS FOR UP TO $50,000.
GIRLS PROGRAMS - MWF CREATES AND SUPPORTS PROGRAMS TO DEVELOP LEADERSHIP, FOSTER SOCIAL CHANGE AND EMPOWER MIDDLE AND HIGH SCHOOL GIRLS. THESE IMPACTFUL PROGRAMS FOCUS ON BARRIER-FREE OPPORTUNITIES FOR COLLEGE AND CAREER, SELF-ESTEEM, FINANCIAL LITERACY AND SOCIAL RESPONSIBILITY IN YEAR ROUND PROGRAMMING AND SUMMER CAMPS.
MICHIGAN WOMEN HISTORICAL CENTER & HALL OF FAME - ITS MISSION IS TO INSPIRE AND ENGAGE ADULTS AND CHILDREN BY CELEBRATING MICHIGAN WOMEN'S HISTORY, PROMOTING EDUCATIONAL OPPORTUNITIES AND HONORING THE ACCOMPLISHMENTS OF MICHIGAN WOMEN.
ALL OTHER PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carolyn Cassin President & CEO | OfficerTrustee | 40 | $251,947 |
Allyson Boyle Chief Financial Officer | Officer | 40 | $160,305 |
Alexis Dishman Chief Lending Officer | 40 | $155,680 | |
Denise Christy Immediate Past Chair | OfficerTrustee | 1 | $0 |
Stephanie Naito Chair | OfficerTrustee | 2 | $0 |
Regine Beauboeuf Vice Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $43,722 |
| Related organizations | $0 |
| Government grants | $135,770 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,901,094 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,080,586 |
| Total Program Service Revenue | $294,266 |
| Investment income | $12,592 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$194,139 |
| Net Income from Fundraising Events | $359,056 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,557,642 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $191,850 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $433,377 |
| Compensation of current officers, directors, key employees. | $174,414 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,045,222 |
| Pension plan accruals and contributions | $34,559 |
| Other employee benefits | $80,616 |
| Payroll taxes | $100,967 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,872 |
| Fees for services: Accounting | $109,038 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $62,411 |
| Advertising and promotion | $29,693 |
| Office expenses | $67,150 |
| Information technology | $20,400 |
| Royalties | $0 |
| Occupancy | $79,264 |
| Travel | $8,409 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,814 |
| Interest | $56,421 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,142 |
| Insurance | $21,814 |
| All other expenses | $0 |
| Total functional expenses | $2,744,229 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,170,285 |
| Savings and temporary cash investments | $871,089 |
| Pledges and grants receivable | $112,344 |
| 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 | $62,570 |
| Net Land, buildings, and equipment | $36,369 |
| Investments—publicly traded securities | $904,361 |
| Investments—other securities | $0 |
| Investments—program-related | $3,725,333 |
| Intangible assets | $0 |
| Other assets | $157,163 |
| Total assets | $9,039,514 |
| Accounts payable and accrued expenses | $151,690 |
| Grants payable | $0 |
| Deferred revenue | $643,208 |
| 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 | $1,205,049 |
| Unsecured mortgages and notes payable | $4,750,651 |
| Other liabilities | $0 |
| Total liabilities | $6,750,598 |
| Net assets without donor restrictions | $864,353 |
| Net assets with donor restrictions | $1,424,563 |
| 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 | $9,039,514 |
Grants Awarded
Over the last fiscal year, The Michigan Womens Foundation has awarded $20,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Detroit, MI PURPOSE: SUPPORT | $10,000 |
FIERCE PURPOSE: SUPPORT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that The Michigan Womens Foundation has recieved totaling $865,687.
| Awarding Organization | Amount |
|---|---|
Consumers Energy Foundation Jackson, MI PURPOSE: WOMEN'S ENTREPRENEURIAL INITIATIVE SUPPORTING WOMEN AND MINORITY ENTREPRENEURS | $200,000 |
Community Foundation For Southeast Michigan Detroit, MI PURPOSE: EDUCATION, CAPITAL, TECHNICAL ASSISTANCE AND MENTORING TO UNDER RESOURCED WOMEN ENTREPRENEURS IN THE DETROIT REGION | $150,000 |
Kresge Foundation Troy, MI PURPOSE: GENERAL OPERATING SUPPORT TO BUILD THE CAPACITY OF MICHIGAN WOMEN FORWARD (MWF) TO EXPAND MICRO-LENDING PROGRAMS FOR WOMEN WITH LOW TO MODERATE INCOMES IN DETROIT NEIGHBORHOODS. | $150,000 |
Consumers Energy Foundation Jackson, MI PURPOSE: MWF STATEWIDE WOMANUP PITCH COMPETITIONS | $150,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION | $60,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION | $60,000 |
Endowment Analysis
| Beg. Balance | $1,066,462 |
| Earnings | -$194,139 |
| Net Contributions | $20,838 |
| Other Expense | $54,563 |
| Ending Balance | $838,598 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rocket Giving Fund Detroit, MI | $2,590,205 | $13,264,068 |
Veterans Of Foreign Wars Of Ohio Charities Columbus, OH | $6,551,466 | $8,213,931 |
Asias Hope Columbus, OH | $3,429,786 | $3,149,980 |
The Michigan Womens Foundation Detroit, MI | $9,039,514 | $2,557,642 |
Voice Of Judah Israel Inc Fort Wayne, IN | $1,559,331 | $3,178,865 |
Ohio Living Foundation Westerville, OH | $93,570,662 | $6,381,940 |
American Warrior Initiative Inc Madison, WI | $3,298,583 | $1,806,705 |
Sealkids Inc Dublin, OH | $263,356 | $1,692,009 |
Kalamazoo County Ready 4s Kalamazoo, MI | $2,733,635 | $1,299,899 |
The World Orphan Fund Inc Randolph, WI | $777,063 | $1,129,281 |
Sunshine Place Inc Sun Prairie, WI | $2,711,848 | $1,376,571 |
Eagles For Children Incorporated Novi, MI | $20,849 | $982,056 |