The Michigan China Business Development Group
- Assets
- $486.0k
- Revenue
- $406.6k
- Investments
- $0.0
- Employees
- 5
- Location
- Troy, MI
- Founding
- 12/2016
- Data as of
- 09/2021
- EIN
- 81-1789490
Organization Overview
The Michigan China Business Development Group is located in Troy, MI. The organization was established in 2016. 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. As of 09/2021, Michigan China Business Development Group employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan China Business Development Group 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 09/2021, Michigan China Business Development Group generated $406.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (16.5%) each year. All expenses for the organization totaled $624.6k during the year ending 09/2021. 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
THE MICHIGN CHINA INNOVATION CENTER IS A NON-PROFIT ORGANIZATION BUILDING BUSINESS TIES AND ENHANCING COOPERATION BETWEEN MICHIGAN AND CHINA. FOUNDED IN 2016 WITH A GRANT FROM THE STATE OF MICHIGAN, OUR WORK, CARRIED OUT IN BOTH MICHIGAN AND CHINA, INCLUDES: *ATTRACTING CHINESE INVESTMENT TO MICHIGAN *MARKETING MICHIGAN IN CHINA *BUILDING RELATIONSHIPS WITH INDIVIDUALS, BUSINESSES, BUSINESS GROUPS, AND GOVERNMENTAL UNITS IN CHINA *ORGANIZING A WIDE VARIETY OF COLLABORATIONS BETWEEN MICHIGAN AND CHINESE PARTNERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICE #1DESCRIPTION OF PROGRAM SERVICE:PROMOTING THE STATE OF MICHIGAN AS AN INVESTMENT DESTINATION TO CHINESE COMPANIES AND CONVINCING THEM TO MAKE JOB-CREATING INVESTMENTS IN MICHIGAN, ON A NON-PROFIT BASIS, FOR THE PURPOSE OF ECONOMIC DEVELOPMENT IN MICHIGAN. THE PRIMARY PROGRAM SERVICE, UNDERTAKEN BOTH IN MICHIGAN AND CHINA, CONSISTS OF ATTENDING INDUSTRY EVENTS, BUILDING BUSINESS RELATIONSHIPS, MAKING TAILORED PRESENTATIONS, CONVENING MEETINGS TOGETHER WITH PARTNERS IN MICHIGAN AND CHINA, AND EXCHANGING FREE INFORMATION WITH POTENTIAL INVESTORS, TO FURTHER THESE AIMS. MICHIGAN-CHINA INNOVATION CENTER CARRIES OUT TAILORED RECRUITMENT CAMPAIGNS TARGETING COMPANIES FROM CHINA, NOT ALL OF WHICH RESULT IN WINS.APPROXIMATELY, THE RATIO OF COMPANIES SERVED TO 'WINS' IS: 100 PROSPECTS CONVERT TO 10 LEADS (10%); 10 LEADS CONVERT TO 1 WIN (10%); THEREFORE, APPROXIMATELY 100 PROSPECTS CONVERT TO 1 WIN (1%).MICHIGAN-CHINA INNOVATION CENTER FYE 9/30/2021 WINS(JOB-CREATING PROJECTS LOCATED IN MICHIGAN AFTER MULTI-STATE COMPETITIONS)PROJECT NAME JOBS INVESTMENT(MILLION $)DICASTAL NORTH AMERICA 137 60.5CAMEL BATTERY 41 4.6DUHOME 10 3.0TOTALS 188 68.1TOTAL REVENUE ASSOCIATED WITH PROGRAM SERVICE: $276,159TOTAL GRANTS ASSOCIATED WITH PROGRAM SERVICE: $262,500EXPENDITURE ON PROGRAM SERVICE: $364,317PROGRAM SERVICE #2DESCRIPTION OF PROGRAM SERVICE:BUILDING BUSINESS TIES IN THE CLEAN TECH INDUSTRY BETWEEN MICHIGAN AND CHINA. PROGRAMS INVOLVED CONDUCTING EXPLORATORY CONVERSATIONS WITH COMPANIES IN MICHIGAN AND CHINA ABOUT OPPORTUNITIES TO CONNECT WITH TECHNOLOGY, MARKETS, OR CAPITAL IN THE OTHER REGION, AND FORMS OF COLLABORATION THEY MIGHT HAVE WITH PLAYERS FROM THE OTHER REGION. ONE IMPORTANT RESULT HAS BEEN PROMOTION OF THE STATE OF MICHIGAN'S NEXTCYCLE PROGRAM, A RECYCLING BUSINESS ACCELERATOR, TO COMPANIES FROM CHINA AND TAIWAN.TOTAL REVENUE ASSOCIATED WITH PROGRAM SERVICE: $187,500TOTAL GRANTS ASSOCIATED WITH PROGRAM SERVICE: $187,500EXPENDITURE ON PROGRAM SERVICE: $260,227
BUILDING BUSINESS TIES IN THE CLEAN TECH INDUSTRY BETWEEN MICHIGAN AND CHINA. ROGRAMS INVOLVED CONDUCTING EXPLORATORY CONVERSATIONS WITH COMPANIES IN MICHIGAN AND CHINA ABOUT OPPORTUNITIES TO CONNECT WITH TECHNOLOGY, MARKETS, OR CAPITAL IN THE OTHER REGION, AND FORMS OF COLLABORATION THEY MIGHT HAVE WITH PLAYERS FROM THE OTHER REGION. ONE IMPORTANT RESULT HAS BEEN PROMOTION OF THE STATE OF MICHIGAN'S NEXT CYCLE PROGRAM, A RECYCLING BUSINESS ACCELERATOR, TO COMPANIES FROM CHINA AND TAIWAN.EXPENSES NOT SEPARATELY STATED.
PROGRAM SERVICE #1DESCRIPTION OF PROGRAM SERVICE:PROMOTING THE STATE OF MICHIGAN AS AN INVESTMENT DESTINATION TO CHINESE COMPANIES AND CONVINCING THEM TO MAKE JOB-CREATING INVESTMENTS IN MICHIGAN, ON A NON-PROFIT BASIS, FOR THE PURPOSE OF ECONOMIC DEVELOPMENT IN MICHIGAN. THE PRIMARY PROGRAM SERVICE, UNDERTAKEN BOTH IN MICHIGAN AND CHINA, CONSISTS OF ATTENDING INDUSTRY EVENTS, BUILDING BUSINESS RELATIONSHIPS, MAKING TAILORED PRESENTATIONS, CONVENING MEETINGS TOGETHER WITH PARTNERS IN MICHIGAN AND CHINA, AND EXCHANGING FREE INFORMATION WITH POTENTIAL INVESTORS, TO FURTHER THESE AIMS. MICHIGAN-CHINA INNOVATION CENTER CARRIES OUT TAILORED RECRUITMENT CAMPAIGNS TARGETING COMPANIES FROM CHINA, NOT ALL OF WHICH RESULT IN WINS.APPROXIMATELY, THE RATIO OF COMPANIES SERVED TO 'WINS' IS: 100 PROSPECTS CONVERT TO 10 LEADS (10%); 10 LEADS CONVERT TO 1 WIN (10%); THEREFORE, APPROXIMATELY 100 PROSPECTS CONVERT TO 1 WIN (1%).MICHIGAN-CHINA INNOVATION CENTER FYE 9/30/2021 WINS(JOB-CREATING PROJECTS LOCATED IN MICHIGAN AFTER MULTI-STATE COMPETITIONS)PROJECT NAME JOBS INVESTMENT(MILLION $)DICASTAL NORTH AMERICA 137 60.5CAMEL BATTERY 41 4.6DUHOME 10 3.0TOTALS 188 68.1TOTAL REVENUE ASSOCIATED WITH PROGRAM SERVICE: $276,159TOTAL GRANTS ASSOCIATED WITH PROGRAM SERVICE: $262,500EXPENDITURE ON PROGRAM SERVICE: $364,317PROGRAM SERVICE #2DESCRIPTION OF PROGRAM SERVICE:BUILDING BUSINESS TIES IN THE CLEAN TECH INDUSTRY BETWEEN MICHIGAN AND CHINA. PROGRAMS INVOLVED CONDUCTING EXPLORATORY CONVERSATIONS WITH COMPANIES IN MICHIGAN AND CHINA ABOUT OPPORTUNITIES TO CONNECT WITH TECHNOLOGY, MARKETS, OR CAPITAL IN THE OTHER REGION, AND FORMS OF COLLABORATION THEY MIGHT HAVE WITH PLAYERS FROM THE OTHER REGION. ONE IMPORTANT RESULT HAS BEEN PROMOTION OF THE STATE OF MICHIGAN'S NEXTCYCLE PROGRAM, A RECYCLING BUSINESS ACCELERATOR, TO COMPANIES FROM CHINA AND TAIWAN.TOTAL REVENUE ASSOCIATED WITH PROGRAM SERVICE: $187,500TOTAL GRANTS ASSOCIATED WITH PROGRAM SERVICE: $187,500EXPENDITURE ON PROGRAM SERVICE: $260,227
BUILDING BUSINESS TIES IN THE CLEAN TECH INDUSTRY BETWEEN MICHIGAN AND CHINA. ROGRAMS INVOLVED CONDUCTING EXPLORATORY CONVERSATIONS WITH COMPANIES IN MICHIGAN AND CHINA ABOUT OPPORTUNITIES TO CONNECT WITH TECHNOLOGY, MARKETS, OR CAPITAL IN THE OTHER REGION, AND FORMS OF COLLABORATION THEY MIGHT HAVE WITH PLAYERS FROM THE OTHER REGION. ONE IMPORTANT RESULT HAS BEEN PROMOTION OF THE STATE OF MICHIGAN'S NEXT CYCLE PROGRAM, A RECYCLING BUSINESS ACCELERATOR, TO COMPANIES FROM CHINA AND TAIWAN.EXPENSES NOT SEPARATELY STATED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Connors President, Treasurer, Dire | OfficerTrustee | 40 | $174,980 |
Courtney Henderson Employee | Officer | 40 | $156,090 |
Matthew X Roling Secretary, Director | OfficerTrustee | 0 | $0 |
Antonio Luck Director | Trustee | 0 | $0 |
Gwendolyn Butler Director | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mbc Shanghai Co Ltd Marketing, Consulting | 9/29/18 | $80,000 |
Skidmore Studios Website Design And Support | 9/29/18 | $50,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $13,659 |
| Government grants | $450,000 |
| 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 | $463,659 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$57,051 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $406,608 |
| 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. | $331,070 |
| Compensation of current officers, directors, key employees. | $66,214 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,490 |
| Pension plan accruals and contributions | $49,269 |
| Other employee benefits | $0 |
| Payroll taxes | $24,300 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,302 |
| Fees for services: Accounting | $9,135 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $34,500 |
| Advertising and promotion | $10,702 |
| Office expenses | $1,100 |
| Information technology | $5,759 |
| Royalties | $0 |
| Occupancy | $60,440 |
| Travel | $2,106 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,755 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,301 |
| Insurance | $3,830 |
| All other expenses | $3,401 |
| Total functional expenses | $624,601 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $444,725 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,117 |
| Loans from Officers, Directors, or Controlling Persons | $38,162 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,026 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $486,030 |
| Accounts payable and accrued expenses | $6,007 |
| 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 | $6,007 |
| Net assets without donor restrictions | $0 |
| 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 | $480,023 |
| Total liabilities and net assets/fund balances | $486,030 |
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