Michigan Founders Fund

Analysis

Michigan Founders Fund is a registered charity in United States, based in Ann Arbor, MI. It received its IRS tax-exemption ruling in January 2022, 4 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 December 2023, Michigan Founders Fund reported income of $1.2m and spending of $1.1m, spending 98% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $937k to $1.2m (+25%), an average of +25% a year. The sharpest change came in the year to December 2023, when income rose by 25%. Over the whole period it spent 82% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Michigan Founders Fund sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within MI. Charities of a similar size with the same main cause include Speakup ($1.2m), Schowalter Foundation Inc ($1.2m) and Arham Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $302k. At year end it held assets of $421k against liabilities of $17k, net assets of $404k. It reported 4 employees.