Michigan Founders Fund
- Assets
- $387.6k
- Revenue
- $936.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Ann Arbor, MI
- Founding
- Data as of
- 12/2022
- EIN
- 86-3992946
Organization Overview
Michigan Founders Fund is located in Ann Arbor, MI. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Michigan Founders Fund employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan Founders Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
MICHIGAN FOUNDERS FUND (MFF) HELPS ENTREPRENEURS AND THEIR TEAMS BECOME ACTIVE PARTICIPANTS IN THE COMMUNITIES WHERE THEY OPERATE THROUGHOUT THE STATE OF MICHIGAN. MFF WILL PROVIDE EDUCATIONAL PROGRAMMING AND RESOURCES THAT EQUIP ENTREPRENEURS TO BECOME STRONGER LEADERS AND HELP THEM BUILD DIVERSE, EQUITABLE AND INCLUSIVE COMPANY CULTURES. MFF PROGRAMMING WILL ENABLE ENTREPRENEURS TO CONSIDER THE IMPACT OF THE BUSINESS ON MULTIPLE STAKEHOLDERS, SOCIETY AND THE ENVIRONMENT. MFF WILL PROVIDE EVIDENCED-BASED DATA THAT EMPOWERS ENTREPRENEURS TO MAKE CHARITABLE FINANCIAL AND SERVICE CONTRIBUTIONS TO SUPPORT THE ONGOING WORK OF MFF AND OTHER NONPROFIT 501(C)(3) ORGANIZATIONS DEDICATED TO ADVANCING ENTREPRENEURS AND STUDENTS IN STEM AND GENERATING POSITIVE, SUSTAINABLE PUBLIC BENEFITS TO COMMUNITIES THROUGHOUT MICHIGAN. MFF WILL COLLABORATE WITH OTHER 501(C)(3) ORGANIZATIONS TO PROMOTE THEIR WORK AND ORGANIZE SERVICE ACTIVITIES FOR ENTREPRENEURS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MICHIGAN FOUNDERS FUND (MFF) HELPS ENTREPRENEURS AND THEIR TEAMS BECOME ACTIVE PARTICIPANTS IN THE COMMUNITIES WHERE THEY OPERATE THROUGHOUT THE STATE OF MICHIGAN. MFF WILL PROVIDE EDUCATIONAL PROGRAMMING AND RESOURCES THAT EQUIP ENTREPRENEURS TO BECOME STRONGER LEADERS AND HELP THEM BUILD DIVERSE, EQUITABLE AND INCLUSIVE COMPANY CULTURES. MFF PROGRAMMING WILL ENABLE ENTREPRENEURS TO CONSIDER THE IMPACT OF THE BUSINESS ON MULTIPLE STAKEHOLDERS, SOCIETY AND THE ENVIRONMENT. MFF WILL PROVIDE EVIDENCED-BASED DATA THAT EMPOWERS ENTREPRENEURS TO MAKE CHARITABLE FINANCIAL AND SERVICE CONTRIBUTIONS TO SUPPORT THE ONGOING WORK OF MFF AND OTHER NONPROFIT 501(C)(3) ORGANIZATIONS DEDICATED TO ADVANCING ENTREPRENEURS AND STUDENTS IN STEM AND GENERATING POSITIVE, SUSTAINABLE PUBLIC BENEFITS TO COMMUNITIES THROUGHOUT MICHIGAN. MFF WILL COLLABORATE WITH OTHER 501(C)(3) ORGANIZATIONS TO PROMOTE THEIR WORK AND ORGANIZE SERVICE ACTIVITIES FOR ENTREPRENEURS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Trista Van Tine Executive Director | OfficerTrustee | 40 | $125,435 |
Dug Song Co-Chair | OfficerTrustee | 2 | $0 |
Bhushan Kulkarni Co-Chair | OfficerTrustee | 2 | $0 |
Adrian Fortino Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $936,115 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $936,115 |
| Total Program Service Revenue | $0 |
| Investment income | $685 |
| 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 | $936,800 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $115,002 |
| 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. | $121,531 |
| Compensation of current officers, directors, key employees. | $24,306 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $91,804 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,281 |
| Payroll taxes | $16,635 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,558 |
| Fees for services: Accounting | $1,617 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,254 |
| Advertising and promotion | $15,050 |
| Office expenses | $8,189 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $79,041 |
| Travel | $41 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $94,574 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $117 |
| All other expenses | $549 |
| Total functional expenses | $583,538 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $347,216 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $40,337 |
| 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 | $0 |
| 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 | $387,553 |
| Accounts payable and accrued expenses | $0 |
| 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 | $6,287 |
| Other liabilities | $0 |
| Total liabilities | $6,287 |
| Net assets without donor restrictions | $381,266 |
| 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 | $387,553 |
Grants Awarded
Over the last fiscal year, Michigan Founders Fund has awarded $110,002 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
EVENSCORE INC PURPOSE: 2022 VENTURE COMP WINNER | $33,334 |
JUSTAIR SOLUTIONS INC PURPOSE: 2022 VENTURE COMP WINNER | $33,334 |
LIFE MAGNETICS INC PURPOSE: 2022 VENTURE COMP WINNER | $33,334 |
KEEP GROWING DETROIT PURPOSE: COMMUNITY TRAILBLAZER GRANT | $10,000 |