Michigan Tech Enterprise Corporation

Analysis

Michigan Tech Enterprise Corporation is a registered charity in United States, based in Houghton, MI. It received its IRS tax-exemption ruling in July 2003, 23 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 June 2023, Michigan Tech Enterprise Corporation reported income of $1.7m and spending of $1.3m, leaving 24% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.4m to $1.7m (+25%), an average of +5.7% a year. Over the whole period it spent 83% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Michigan Tech Enterprise Corporation sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within MI. Charities of a similar size with the same main cause include Creating an Environment of Success Inc ($1.7m), Community Empowerment Ass PTA ($1.7m) and St Andrews Mission ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 84% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $159k (12% of expenses). Other salaries and wages came to $389k. At year end it held assets of $3.5m against liabilities of $374k, net assets of $3.1m. It reported 5 employees.