Business Leaders for Michigan Foundation

Analysis

Business Leaders for Michigan Foundation is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in April 1971, 55 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Business Leaders for Michigan Foundation reported income of $490k and spending of $531k, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $977k to $490k (-50%), an average of -16% a year. The sharpest change came in the year to December 2021, when income rose by 51%. Over the whole period it spent 80% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Business Leaders for Michigan Foundation sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 70th percentile within MI. Charities of a similar size with the same main cause include Woodcreek Outreach Rehabilitation Development ($490k), Albany Center for Economic Success Inc ($490k) and Terracycle Global Foundation Inc ($490k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. Other salaries and wages came to $232k. At year end it held assets of $2.2m against liabilities of $3,103, net assets of $2.2m.