Overview
What is Michigan Saves?
Michigan Saves is a nonprofit organization established for charitable, scientific, literary, and educational purposes, working within the state of Michigan. Their primary mission is to create a statewide, innovative energy efficiency and distributed renewable energy financing system, benefiting utility customers in Michigan. By engaging in various activities, Michigan Saves aims to improve the energy efficiency of homes and businesses, promoting the use of renewable energy sources, and ultimately enhancing the overall energy infrastructure of the state.
Official website here: www.michigansaves.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Michigan Saves has received a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial management. The organization scored a remarkable 96% in the Accountability & Finance category, indicating effective oversight and transparency in its operations. This high score is a testament to the nonprofit's rigorous governance practices, including having a fully independent board and comprehensive policies in place.
The organization demonstrates financial health through a low liabilities-to-assets ratio of 18.14%, which suggests prudent management of resources. Additionally, Michigan Saves allocates a significant portion of its budget, approximately 87.84%, directly to programs, showcasing a strong focus on fulfilling its mission. The presence of robust audit and oversight committees further reinforces its commitment to financial integrity.
While the rating reflects positively on Michigan Saves' operational practices, potential donors and stakeholders may consider the specific areas of programming impact and community engagement that are not captured in the financial metrics. Overall, the organization stands out for its strong governance and program efficiency, making it a trustworthy choice for support.
This AI summary has been generated from information found on Charity Navigator.
Is Michigan Saves legitimate?
Michigan Saves is a legitimate nonprofit organization registered as a 501(c)(3) entity. Michigan Saves submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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Official website here: www.michigansaves.org
What is the mission statement of Michigan Saves?
Michigan Saves is a charitable organization dedicated to promoting energy efficiency and distributed renewable energy. It aims to create an innovative statewide financing system to benefit utility customers across the state, with a focus on advancing these causes through various activities. The mission of Michigan Saves is to contribute to the wider community by fostering a more sustainable energy landscape, thereby supporting a greener future for all.
Official website here: www.michigansaves.org
What is the revenue of Michigan Saves?
Michigan Saves's revenue in 2023 was $17,758,875.
Official website here: www.michigansaves.org
Who are the executives of Michigan Saves and what are their salaries?
There 12 volunteers at Michigan Saves.
Here are 13 key members and their salaries:
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Official website here: www.michigansaves.org
Where can I find the form 990 for Michigan Saves?
Michigan Saves's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.michigansaves.org
Learn more at the official website: www.michigansaves.org
Mission Statement of Michigan Saves
Michigan Saves, a charitable organization, is dedicated to promoting energy efficiency and the use of renewable energy across the state. Established with a mission rooted in philanthropy, education, and science, the corporation seeks to create an innovative statewide financing system for utility customers in Michigan. The primary goal is to develop a system that encourages energy efficiency and the adoption of renewable energy, benefiting both the environment and the utility customers. Michigan Saves engages in various activities to achieve this purpose, working towards a future where energy efficiency and renewable energy are integral parts of the state's energy landscape.
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Impact
June, 2024
Michigan Saves has significantly impacted the energy efficiency landscape in the state of Michigan by creating a statewide, innovative energy efficiency and distributed renewable energy financing system. This initiative benefits utility customers in Michigan by providing access to financial resources for energy-saving upgrades and renewable energy installations. Through its efforts, Michigan Saves has helped reduce energy consumption, lower utility bills, and promote sustainability in the local community.
This information is meant to be a general summary of Michigan Saves. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $853,816
- Program Service Revenue: $3,291,578
- Gross Receipts: $18,644,813
Assets and Liabilities:
- Total Assets: $18,460,904
- Total Liabilities: $3,350,711
- Net Assets: $15,110,193
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTRACTOR/APPLICATION FEES
Revenue
$3,174,380
LOAN ADMIN FEES
Revenue
$117,198
Organization Details
Founding Year
2009
Principal Officer
Paul Schutt
Website
www.michigansaves.orgNTEE Category
Code: C35 - Environment
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