Michigans Own Inc

Analysis

Michigans Own Inc is a registered charity in United States, based in Frankenmuth, MI. It received its IRS tax-exemption ruling in November 1976, 50 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Michigans Own Inc reported income of $370k and spending of $246k, leaving 34% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $194k to $370k (+91%), an average of +18% a year. The sharpest change came in the year to December 2021, when income rose by 72%. Over the whole period it spent 79% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Michigans Own Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 65th percentile within MI. Charities of a similar size with the same main cause include Paradise Garden Foundation Inc ($370k), Millburn Institute of Talent ($370k) and Natural History Institute ($370k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 61% and program service revenue 9.9% of the total. Compensation of current officers, directors and key employees was $68k (28% of expenses). Other salaries and wages came to $54k. At year end it held assets of $898k against liabilities of $4,372, net assets of $893k. It reported 7 employees.