Michigan Veterans Foundation Inc
- Assets
- $11.8m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 36
- Location
- Detroit, MI
- Founding
- 09/1989
- Data as of
- 09/2023
- EIN
- 38-2857628
Organization Overview
Michigan Veterans Foundation Inc is located in Detroit, MI. The organization was established in 1989. According to its NTEE Classification (W30) the organization is classified as: Military & Veterans Organizations, under the broad grouping of Public & Societal Benefit and related organizations. As of 09/2023, Michigan Veterans Foundation Inc employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan Veterans Foundation Inc 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 Veterans Foundation Inc generated $1.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.6%) each year. All expenses for the organization totaled $2.2m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (6.0%) per year over the past 8 years. 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
PROVIDES AT RISK, AND HOMELESS VETERANS WITH TEMPORARY HOUSING AND SUPPORTIVE SERVICES, E.G., MEDICAL, VOCATIONAL, PSYCHOLOGICAL, AND EDUCATIONAL TRAINING TO REGAIN OR IMPROVE THEIR STATUS IN SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MVF HAS A TRANSITIONAL HOUSING GRANT UNDER THE VAS HOMELESS PROVIDERS GPD PROGRAM. MVF CAPITALIZES ON THE UNIQUE NEEDS AND STRENGTHS OF FORMER MILITARY MEMBERS WHO WERE ACCUSTOMED TO THE COMRADESHIP OF LIVING WITHIN A UNIT/SQUAD BY PROVIDING TRANSITIONAL LIVING QUARTERS FOR 104 MALE VETERANS IN 26 IDENTICAL IN MEASUREMENT 24X 16 FOUR-MAN SQUAD ROOMS. EACH ROOM CONTAINS 4 BEDS, 4 WALL LOCKERS, 4-FOOT LOCKERS THAT SERVE AS NIGHTSTANDS AND A STUDY TABLE WITH 4 CHAIRS. COMMON AREAS OF THE FACILITY INCLUDE A CERTIFIED COMMERCIAL GRADE KITCHEN THAT PREPARES THREE MEALS DAILY INCLUDING A DINING HALL WITH SEATING FOR UP TO 160 PEOPLE. VETERANS ALSO HAVE AN ON-SITE COURTYARD AND FITNESS CENTER TO ADDRESS THEIR PHYSICAL WELLBEING.
MVF PROVIDES PERMANENT SUPPORTIVE HOUSING TO VETERANS WHO HAVE GRADUATED FROM THE TRANSITIONAL HOUSING PROGRAM. THE THREE HOMES WERE DONATED TO MVF AND ARE PROVIDED TO VETERANS AT BELOW-MARKET RENTAL RATES. THE RENTAL PAYMENTS RECEIVED ARE USED TO MAINTAIN THE PROPERTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raeda Dabaja Chief Executive Officer | Officer | 40 | $186,475 |
Thomas Armstrong Director Of Programs | 40 | $118,044 | |
Vida Frost Member | Trustee | 1 | $0 |
Ronnie Nellon Member | Trustee | 1 | $0 |
Ivy Lee Reinhardt Member | Trustee | 1 | $0 |
Dan Robinson Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ls Brinker Company Building Construction Manager | 9/29/17 | $3,948,292 |
Interior Environments Building Furniture | 9/29/17 | $491,792 |
Great Lakes Hotel Supply Kitchen Equipment And Supplies | 9/29/17 | $354,156 |
Bright Ledgers Llc Accounting | 9/29/17 | $148,000 |
Ferndale Electric Company Inc Building Electrical Services | 9/29/17 | $126,462 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,497,053 |
| All other contributions, gifts, grants, and similar amounts not included above | $172,807 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,669,860 |
| Total Program Service Revenue | $26,731 |
| Investment income | $0 |
| 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 | $1,696,591 |
| 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. | $212,651 |
| Compensation of current officers, directors, key employees. | $14,607 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $673,039 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $88,284 |
| Payroll taxes | $58,593 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $155,730 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $51,358 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $214,347 |
| Travel | $9,351 |
| 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 | $403,950 |
| Insurance | $71,238 |
| All other expenses | $4,646 |
| Total functional expenses | $2,178,627 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $266,742 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $189,497 |
| 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 | $47,020 |
| Net Land, buildings, and equipment | $11,296,893 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,800,152 |
| Accounts payable and accrued expenses | $35,752 |
| 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 | $0 |
| Total liabilities | $35,752 |
| Net assets without donor restrictions | $11,764,400 |
| 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 | $11,800,152 |