Council of Michigan Foundations Inc

Analysis

Council of Michigan Foundations Inc is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in June 1976, 50 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general 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 March 2023, Council of Michigan Foundations Inc reported income of $5.8m and spending of $7.8m, spending 135% of what it took in. Across the 4 years on record, from March 2020 to March 2023, income fell from $8.3m to $5.8m (-31%), an average of -12% a year. The sharpest change came in the year to March 2022, when income rose by 42%. Over the whole period it spent 114% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Council of Michigan Foundations Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within MI. Charities of a similar size with the same main cause include Virgin Unite USA Inc ($5.8m), Denver Broncos Foundation ($5.8m) and Flinthills Services Inc ($5.8m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 84% and program service revenue 39% of the total. Compensation of current officers, directors and key employees was $562k (7.2% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $38.3m against liabilities of $1.7m, net assets of $36.6m. It reported 35 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.