Michigan Tech Fund

Analysis

Michigan Tech Fund is a registered charity in United States, based in Houghton, MI. It received its IRS tax-exemption ruling in July 1955, 71 years ago. Its declared purposes cover education, which this site groups under education and training. 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 Fund reported income of $20.7m and spending of $14.6m, leaving 29% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $26.9m to $20.7m (-23%), an average of -6.4% a year. The sharpest change came in the year to June 2021, when income rose by 176%. Over the whole period it spent 57% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Michigan Tech Fund sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within MI. Charities of a similar size with the same main cause include Vermont College of Fine Arts Inc ($20.7m), Madison-Ridgeland Academy ($20.7m) and Goodwin College Magnet Schools Inc ($20.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 79% of the total. At year end it held assets of $222.2m against liabilities of $16.3m, net assets of $205.9m.