Overview
What is Michigan Community Capital?
Michigan Community Capital is a nonprofit organization with a mission to support affordable housing and community development projects in Michigan. They provide low-cost, flexible financial products and advisory services to create and preserve affordable housing and stimulate job creation in low-income communities. Additionally, they offer support and advisory services to other community development organizations, aiming to foster economic growth in these communities.
Official website here: www.michigancommunitycapital.org
Is Michigan Community Capital legitimate?
Michigan Community Capital is a legitimate nonprofit organization registered as a 501(c)(3) entity. Michigan Community Capital 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: $1,051,506
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.michigancommunitycapital.org
What is the mission statement of Michigan Community Capital?
Michigan Community Capital's mission is centered around promoting economic growth and job creation in low-income communities. Their primary objective is to provide flexible financial products alongside advisory services, with the aim of creating and preserving affordable housing and investing in community-driven economic development projects. These initiatives are designed to benefit low-income residents across the state. Additionally, the organization offers support and advisory services to other community development organizations.
Official website here: www.michigancommunitycapital.org
Who is the CEO of Michigan Community Capital?
Eric Hanna is the CEO of Michigan Community Capital The CEO's salary of Michigan Community Capital is $244,209 and their total compensation is $281,644.
Official website here: www.michigancommunitycapital.org
What is the revenue of Michigan Community Capital?
Michigan Community Capital's revenue in 2023 was $6,661,371.
Official website here: www.michigancommunitycapital.org
Who are the executives of Michigan Community Capital and what are their salaries?
The average compensation at Michigan Community Capital during 2023 was $42,060. There are 25 employees at Michigan Community Capital.
Here are 18 key members and their salaries (Michigan Community Capital's CEO's salary is $244,209 and their total compensation is $281,644):
- Compensation: $244,209
- Related: $0
- Other: $37,435
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- Compensation: $196,456
- Related: $0
- Other: $33,133
- Compensation: $162,190
- Related: $0
- Other: $18,619
- Compensation: $121,320
- Related: $0
- Other: $32,645
- Compensation: $119,111
- Related: $0
- Other: $26,666
Official website here: www.michigancommunitycapital.org
Where can I find the form 990 for Michigan Community Capital?
Michigan Community Capital's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.michigancommunitycapital.org
Learn more at the official website: www.michigancommunitycapital.org
Mission Statement of Michigan Community Capital
Michigan Community Capital, a nonprofit organization, is dedicated to serving low-income communities across the state. Their primary mission is to facilitate investments in affordable housing and community development projects. By providing low-cost, flexible financial products and advisory services, they aim to create and preserve affordable housing. Additionally, they invest in job-creating, community-driven economic development projects. This initiative is designed to boost economic growth in disadvantaged areas, ultimately benefiting these communities and their residents. Beyond financial support, Michigan Community Capital also offers programs to provide support and advisory services to other community development organizations.
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Impact
October, 2024
Michigan Community Capital significantly impacts local communities by providing low-cost, flexible financial products and advisory services aimed at fostering affordable housing and stimulating job creation. By facilitating investments in community-driven economic development projects, they enhance the quality of life for low- and moderate-income residents across Michigan.
Their initiatives focus on preserving affordable housing options and supporting various community development organizations. This approach not only creates immediate employment opportunities but also cultivates long-term economic growth in low-income areas. The ongoing support from Michigan Community Capital plays a crucial role in revitalizing communities, ensuring that residents have access to essential resources, and promoting overall community improvement.
This information is meant to be a general summary of Michigan Community Capital. 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: $382,158
- Program Service Revenue: $4,368,761
- Gross Receipts: $8,708,689
Assets and Liabilities:
- Total Assets: $77,994,723
- Total Liabilities: $60,312,769
- Net Assets: $17,681,954
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NMTC SUBALLOCATION FEE
Revenue
$1,980,000
RELATED PARTY RENTAL
Revenue
$1,303,577
ASSET MANAGEMENT FEE
Revenue
$923,059
AUDIT & TAX REVENUE
Revenue
$162,125
Organization Details
Founding Year
2003
Principal Officer
Adrianne Jenkins
NTEE Category
Code: S30 - Community improvement
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