Michigan Student Financial Aid Association Inc

Analysis

Michigan Student Financial Aid Association Inc is a registered charity in United States, based in Ann Arbor, MI. It received its IRS tax-exemption ruling in May 1996, 30 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Michigan Student Financial Aid Association Inc reported income of $105k and spending of $99k, spending 94% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $74k to $105k (+41%), an average of +41% a year. The sharpest change came in the year to December 2023, when income rose by 41%. Over the whole period it spent 112% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Michigan Student Financial Aid Association Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 38th percentile within MI. Charities of a similar size with the same main cause include Twinsburg Band Boosters ($105k), Foundation for Reformed Theology ($105k) and Legacy Endowment Fund for Preaching Scholarships Inc ($105k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 14% and program service revenue 61% of the total. At year end it held assets of $172k against liabilities of $0, net assets of $172k.