Overview
What is Michigan Technology Commercialization Corporation?
Michigan Technology Commercialization Corporation, operating under the name Michigan Research Institute, is a nonprofit organization situated in Ann Arbor, Michigan. Their primary mission is to foster basic and applied research, aligning it with high-priority needs across various branches of the U.S. military, such as the Army, Marine Corps, Navy, Air Force, and National Guard. This encompasses areas like military vehicles, aircraft, and general medical requirements. In addition to research, Michigan Research Institute offers educational opportunities for graduates in Michigan. The organization employs a team of 3 individuals, contributing to the advancement of technology and research in the state.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 57%, One-Star out of Four Stars
The Michigan Technology Commercialization Corporation has received a One-Star rating from Charity Navigator, reflecting concerns regarding its financial accountability and transparency. With an overall score of 57%, the organization has strengths in areas such as having a majority of independent board members and maintaining a conflict of interest policy. However, significant weaknesses are evident in its financial reporting, including missing financial statements and tax forms posted on its website.
A notable strength is the organization’s program expense ratio, which stands at an impressive 94.85%, indicating a strong commitment to its programmatic activities. This suggests that a large portion of its resources is devoted to its mission-related work. However, the liabilities to assets ratio of 95.26% raises red flags about its financial health and sustainability.
Overall, while the organization demonstrates some accountability protocols and a focus on program spending, the lack of financial transparency and documentation could pose risks. Potential donors and stakeholders may want to seek additional information before engaging with or contributing to the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Michigan Technology Commercialization Corporation legitimate?
Michigan Technology Commercialization Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Michigan Technology Commercialization Corporation 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: $624,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Michigan Technology Commercialization Corporation?
Michigan Technology Commercialization Corporation's mission involves promoting both basic and applied research to support federal and state programs. Additionally, they provide educational opportunities for graduates in Michigan. In specific terms, they collaborate with The Michigan Research Institute to identify basic research and development that aligns with high-priority needs across various defense services, including the Army, Marine Corps, Navy, Air Force, and National Guard. This encompasses various aspects such as military vehicles, aircraft, and general medical requirements. Furthermore, they offer educational opportunities to nurture the knowledge base of Michigan's graduates.
Who is the CEO of Michigan Technology Commercialization Corporation?
James A Richter is the President of Michigan Technology Commercialization Corporation.
What is the revenue of Michigan Technology Commercialization Corporation?
Michigan Technology Commercialization Corporation's revenue in 2022 was $4,271,855.
Who are the executives of Michigan Technology Commercialization Corporation and what are their salaries?
The average compensation at Michigan Technology Commercialization Corporation during 2022 was $208,000. There are 3 employees at Michigan Technology Commercialization Corporation.
Here are 5 key members and their salaries:
- Compensation: $262,500
- Related: $0
- Other: $68,732
- Compensation: $187,500
- Related: $0
- Other: $41,248
- Compensation: $174,000
- Related: $0
- Other: $29,000
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Michigan Technology Commercialization Corporation?
Michigan Technology Commercialization Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Michigan Technology Commercialization Corporation
Michigan Technology Commercialization Corporation, in its mission, focuses on promoting both basic and applied research to support federal and state programs. The organization aims to provide educational opportunities for graduates residing in Michigan. In more detail, Michigan Technology Commercialization Corporation collaborates with The Michigan Research Institute to identify fundamental research and development that can be aligned with high-priority needs within various departments of defense, such as the Army, Marine Corps, Navy, Air Force, and National Guard. This collaboration encompasses military vehicles, aircraft, and general medical requirements. The corporation's mission is to foster innovation and technological advancements, thereby contributing to the success of these federal programs and providing valuable educational opportunities for Michigan's graduates.
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Impact
July, 2024
Michigan Technology Commercialization Corporation (MTCC) plays a crucial role in promoting basic and applied research to support federal and state programs. By identifying essential research and development that aligns with high-priority Department of Defense needs, MTCC contributes significantly to the advancement of military vehicles, aircraft, and general medical requirements for various branches of the armed forces. Through its efforts in supporting federal programs, MTCC fosters innovation and knowledge transfer that benefits both the defense sector and society at large. Additionally, by providing educational opportunities for graduates in Michigan, MTCC contributes to the growth and development of the state's workforce in science research and related fields.
This information is meant to be a general summary of Michigan Technology Commercialization Corporation. 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: $24,971
- Program Service Revenue: $3,979,304
- Gross Receipts: $4,382,148
Assets and Liabilities:
- Total Assets: $3,986,800
- Total Liabilities: $3,798,009
- Net Assets: $188,791
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEDERAL PROGRAMS
Revenue
$3,979,304
Organization Details
Founding Year
2001
Principal Officer
James A Richter
Main Address
401 WEST MORGAN ROAD, ANN ARBOR, MI, 48108
NTEE Category
Code: U192 - Science research
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