Overview
What is Michigan Israel Business Accelerator Foundation?
The Michigan Israel Business Accelerator Foundation (MIBAF) is a nonprofit organization, classified under Section 501(C)(3) of the Internal Revenue Code. Established with the purpose of fostering commerce and industry between Michigan and Israel, MIBAF has been instrumental in attracting high-growth Israeli technology companies to explore business expansion opportunities in Michigan. Conversely, they also aim to educate and attract Michigan's own high-growth technology companies to pursue business in Israel. In 2022, MIBAF and its affiliated organization, the Michigan Israel Business Accelerator (MIBA), supported over 400 companies, facilitating numerous connections and collaborations. Their efforts extended to strengthening working relationships with economic development entities across Michigan and Israel, through a series of business connections, trade missions, and community engagement events. The ultimate goal of MIBAF is to enhance Michigan's innovation ecosystem, one Israeli connection at a time.
Official website here: www.michiganisrael.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92%, Four-Star out of Four Stars
The Michigan Israel Business Accelerator Foundation has achieved a notable Four-Star rating from Charity Navigator, reflecting a strong commitment to Accountability and Finance. With an overall score of 92%, the foundation demonstrates a robust financial health and operational transparency, which is crucial for building trust with donors and stakeholders.
Strengths of the organization include a fully independent board and high scores in areas such as financial statements and program expenses, where they allocate 87.14% of their budget towards programs. Additionally, they possess comprehensive policies addressing conflicts of interest, whistleblower protections, and maintain documented board meeting minutes, all contributing to effective governance.
While the foundation has demonstrated financial stability and accountability, the focus on financial metrics may overshadow other potential aspects of performance and impact not covered by the rating system. However, the absence of significant asset diversion and clear communication of financial practices suggest a well-managed organization.
This AI summary has been generated from information found on Charity Navigator.
Is Michigan Israel Business Accelerator Foundation legitimate?
Michigan Israel Business Accelerator Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Michigan Israel Business Accelerator Foundation 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.michiganisrael.com
What is the mission statement of Michigan Israel Business Accelerator Foundation?
The Michigan Israel Business Accelerator Foundation, abbreviated as MIBAF, is a non-profit organization under Section 501(C)(3) of the Internal Revenue Code. Its primary mission is to foster commerce and industry between Michigan and Israel. MIBAF achieves this by attracting high-growth Israeli technology companies to explore business expansion opportunities in Michigan, and conversely, by encouraging Michigan's high-growth technology companies to venture into Israel's business landscape. The organization's goal is to advance Michigan's innovation ecosystem by building connections with Israel, one relationship at a time. In 2022, MIBAF and its affiliated organization, the Michigan Israel Business Accelerator, supported over 400 companies, facilitated numerous connections, and fostered successful collaborations between the two regions.
Official website here: www.michiganisrael.com
Who is the CEO of Michigan Israel Business Accelerator Foundation?
Scott Hiipakka is the Chair of Michigan Israel Business Accelerator Foundation. The CEO's salary of Michigan Israel Business Accelerator Foundation is $0 and their total compensation is $167,515.
Official website here: www.michiganisrael.com
What is the revenue of Michigan Israel Business Accelerator Foundation?
Michigan Israel Business Accelerator Foundation's revenue in 2022 was $556,601.
Official website here: www.michiganisrael.com
Who are the executives of Michigan Israel Business Accelerator Foundation and what are their salaries?
Here are 5 key members and their salaries (Michigan Israel Business Accelerator Foundation's CEO's salary is $0 and their total compensation is $167,515):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $167,515
- Other: $0
Official website here: www.michiganisrael.com
Where can I find the form 990 for Michigan Israel Business Accelerator Foundation?
Michigan Israel Business Accelerator Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.michiganisrael.com
Learn more at the official website: www.michiganisrael.com
Mission Statement of Michigan Israel Business Accelerator Foundation
The Michigan Israel Business Accelerator Foundation, a 501(c)(3) organization, has adopted a mission to foster commerce and industry connections between Michigan and Israel, one Israeli relationship at a time. This non-profit entity works tirelessly to attract high-growth technology companies from Israel to explore business expansion opportunities in Michigan, while simultaneously encouraging Michigan's own high-growth technology companies to venture into business in Israel. By advancing Michigan's innovation ecosystem, one Israeli connection at a time, the Michigan Israel Business Accelerator Foundation aims to promote mutual growth and understanding between these two dynamic regions.
In the year 2022, the Michigan Israel Business Accelerator Foundation, alongside its affiliated organization, the Michigan Israel Business Accelerator, supported over 400 companies. This support resulted in 201 connects, 1,006 individual connections, and 23 successful collaborations. The foundation continued to strengthen its relationships with economic development entities across both Michigan and Israel through business connections, trade missions, and various community engagement events. These events were designed to enhance understanding of the vast business opportunities available to both Michigan and Israel, ultimately promoting a mutually beneficial relationship between the two regions.
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Impact
July, 2024
The Michigan Israel Business Accelerator Foundation has made a significant impact by fostering over 400 companies, facilitating 201 connects, 1,006 connections, and 23 successful collaborations. Through its efforts, it has played a crucial role in advancing working relationships with economic development entities across the state of Michigan and Israel. By organizing business connections, trade missions, and various community engagement events, the foundation promotes a better understanding of the business opportunities between Michigan and Israel. Overall, the foundation is dedicated to advancing Michigan's innovation ecosystem one Israeli connection at a time.
This information is meant to be a general summary of Michigan Israel Business Accelerator Foundation. 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 2022.
- Investment Income: $761
- Program Service Revenue: $131,123
- Gross Receipts: $592,475
Assets and Liabilities:
- Total Assets: $1,350,588
- Total Liabilities: $300,537
- Net Assets: $1,050,051
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM INCOME
Revenue
$131,123
Organization Details
Founding Year
2010
Phone
(248) 303-4618Principal Officer
Scott Hiipakka
Main Address
407 EAST FORT STREET 205, DETROIT, MI, 482262958
Website
www.michiganisrael.comNTEE Category
Code: S40 - Community improvement
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