Overview
What is Michigan Economic Development Foundation?
The Michigan Economic Development Foundation is a nonprofit organization situated in Okemos, Michigan. Its primary mission is to position Michigan as an exceptional destination for international companies in specific industry sectors. To accomplish this, key economic development officials conduct targeted missions abroad, engaging with select companies and events. The aim is to lessen the burden on the Michigan government, enhance public welfare, and alleviate high unemployment in the state. The organization's work ultimately contributes to fostering a prosperous business environment in Michigan.
Official website here: www.medf.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%
The Michigan Economic Development Foundation has achieved a remarkable Four-Star out of Four Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial health. With an overall score of 96%, the foundation's evaluation is heavily weighted on the accountability and finance beacon, showcasing its sound management practices and transparency in fiscal matters.
The foundation stands out for having a fully independent board, with 95% of its members meeting this criterion. It has robust financial oversight, with all necessary policies and committees in place, including an audit and oversight committee. Additionally, the organization demonstrates a solid program expense ratio of 74.34%, indicating that a significant portion of its funds is directed towards its programs rather than administrative costs.
There are no noted limitations in the data regarding the foundation's performance, which suggests a well-run organization with effective governance structures. Overall, the Michigan Economic Development Foundation exemplifies best practices in nonprofit management, making it a trustworthy option for potential donors and supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Michigan Economic Development Foundation legitimate?
Michigan Economic Development Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Michigan Economic Development 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: $93,250
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.medf.org
What is the mission statement of Michigan Economic Development Foundation?
The Michigan Economic Development Foundation's mission is mainly focused on alleviating the burden on the government and improving public welfare. Additionally, it aims to address high unemployment rates within the state. To achieve these goals, the foundation conducts investment missions, positioning Michigan as a top location for international companies in targeted industries. This is done by sending key economic development officials on missions abroad to target specific companies and events, as demonstrated by the six missions conducted in 2022.
Official website here: www.medf.org
Who is the CEO of Michigan Economic Development Foundation?
Ashley Van Ek - Ten Brink is the Chairman of Michigan Economic Development Foundation.
Official website here: www.medf.org
What is the revenue of Michigan Economic Development Foundation?
Michigan Economic Development Foundation's revenue in 2022 was $934,993.
Official website here: www.medf.org
Who are the executives of Michigan Economic Development Foundation and what are their salaries?
There 19 volunteers at Michigan Economic Development Foundation.
Here are 23 key members and their salaries:
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Official website here: www.medf.org
Where can I find the form 990 for Michigan Economic Development Foundation?
Michigan Economic Development Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.medf.org
Learn more at the official website: www.medf.org
Mission Statement of Michigan Economic Development Foundation
Michigan Economic Development Foundation, in its mission, aims to alleviate the financial burden on the state government while promoting the overall public welfare. More specifically, its objective is to reduce high unemployment rates within Michigan. To accomplish this, the foundation focuses on positioning Michigan as a top destination for international companies in specific industry sectors. This is achieved through targeted investment missions conducted by key economic development officials, who engage with select companies and events abroad. These missions, as seen in 2022 with six such missions, are a crucial part of the foundation's strategy to attract and retain international businesses, ultimately contributing to Michigan's economic growth and job creation.
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Impact
July, 2024
Michigan Economic Development Foundation's impact can be seen in its efforts to position Michigan as the premier location in North America for international companies in targeted industry sectors. Through investment missions conducted by key economic development officials, the foundation works to target select companies and events abroad, with six missions occurring in 2022. By focusing on attracting international businesses to Michigan, the foundation is contributing to economic growth, job creation, and overall prosperity in the state.
This information is meant to be a general summary of Michigan Economic Development 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: $769
- Gross Receipts: $934,993
Assets and Liabilities:
- Total Assets: $1,233,709
- Total Liabilities: $155
- Net Assets: $1,233,554
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Organization Details
Founding Year
1984
Phone
(517) 374-9111Principal Officer
Ashley Van Ek - Ten Brink
Main Address
2145 COMMONS PKWY, OKEMOS, MI, 48864
Website
www.medf.orgNTEE Category
Code: S46Z - Community improvement
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