Invest Michigan

Analysis

Invest Michigan is a registered charity in United States, based in Northville, MI. It received its IRS tax-exemption ruling in May 2015, 11 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Invest Michigan reported income of $88k and spending of $587k, spending 669% of what it took in. Across the 4 years on record, from March 2020 to March 2023, income fell from $992k to $88k (-91%), an average of -56% a year. The sharpest change came in the year to March 2022, when income dropped by 193%. Over the whole period it spent 279% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Invest Michigan sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 33rd percentile within MI. Charities of a similar size with the same main cause include N C Minoritywomen Business Enterprise Coordinators Network ($87k), Belpre Homecoming Festival ($88k) and Valdosta Rotary Foundation Inc ($87k).

Compensation of current officers, directors and key employees was $494k (84% of expenses). At year end it held assets of $16.1m against liabilities of $46k, net assets of $16.1m. It reported 2 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.