Michigan Credit Union Foundation

Analysis

Michigan Credit Union Foundation is a registered charity in United States, based in Royal Oak, MI. It received its IRS tax-exemption ruling in March 2017, 9 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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 December 2023, Michigan Credit Union Foundation reported income of $433k and spending of $242k, leaving 44% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $256k to $433k (+69%), an average of +14% a year. The sharpest change came in the year to December 2020, when income rose by 139%. Over the whole period it spent 68% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Michigan Credit Union Foundation sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within MI. Charities of a similar size with the same main cause include Advocare Trust Inc ($433k), Carlsbad Battered Families Shelter ($433k) and Shelter Island Historical Society ($433k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% of the total. At year end it held assets of $1.3m against liabilities of $10k, net assets of $1.3m.