Michigan Future Inc

Analysis

Michigan Future Inc is a registered charity in United States, based in Ann Arbor, MI. It received its IRS tax-exemption ruling in December 1991, 35 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Michigan Future Inc reported income of $488k and spending of $721k, spending 148% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $333k to $488k (+47%), an average of +7.9% a year. The sharpest change came in the year to June 2023, when income rose by 241%. Over the whole period it spent 82% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Michigan Future Inc sits at the 68th percentile: it is larger than about 68% 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 Young Womens Christian Association ($488k), Ridge Fire Company No 1 ($488k) and West Warwick Assistance Agency Inc ($488k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $225k (31% of expenses). Other salaries and wages came to $250k. At year end it held assets of $1.1m against liabilities of $20k, net assets of $1.1m. It reported 3 employees.