Overview
What is The Michigan Women's Foundation?
The Michigan Women's Foundation, operating under the name Michigan Women Forward, is a nonprofit community development organization based in Detroit, Michigan. With a mission to expand economic opportunities, empower the next generation, and celebrate the achievements of Michigan women, they strive to create an inclusive economy for the state. Their activities focus on entrepreneurship, providing pitch competitions, lending, pre- and post-lending training, coaching, and facilitation. They offer financing programs up to $50,000 for women entrepreneurs and small business owners. With a team of 22 employees, they are committed to fostering a supportive environment for women's business growth and empowerment.
Official website here: www.miwf.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Star rating)
The Michigan Women's Foundation has received an 83% rating from Charity Navigator, which reflects a solid performance in accountability and finance. The organization showcases a strong governance structure with 94% of its board members being independent and 18 members overall. Effective financial oversight is evident through a well-rated audit committee and no material diversion of assets.
Strengths include a high program expense ratio of 67.86%, indicating a significant portion of funds directed toward fulfilling its mission, along with excellent fundraising efficiency at just $0.13 for every dollar raised. The foundation upholds robust policies, including conflict of interest and whistleblower protections, which contribute to transparency and ethical governance.
However, while the overall rating is commendable, there is always room for improvement in operational efficiency and ensuring even higher percentages in program expenses. Continuous monitoring and enhancement of these areas could further solidify the organization’s impact and financial health.
This AI summary has been generated from information found on Charity Navigator.
Is The Michigan Women's Foundation legitimate?
The Michigan Women's Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Michigan Women's 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: $433,377
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,045,222
For more financial information, click here
Official website here: www.miwf.org
What is the mission statement of The Michigan Women's Foundation?
The Michigan Women's Foundation is a non-profit community development organization with a mission to expand economic opportunities, empower the next generation, and celebrate and honor the accomplishments of Michigan women. Their vision is to establish an inclusive economy in Michigan, enabling all women and girls to realize their full potential. This organization undertakes various activities, including entrepreneurship initiatives such as pitch competitions, lending, training, coaching, and facilitation. The lending program, available up to $50,000, supports women entrepreneurs and small business owners. The Michigan Women's Foundation aims to foster a supportive environment that empowers women and drives economic growth in the state.
Official website here: www.miwf.org
Who is the CEO of The Michigan Women's Foundation?
Carolyn Cassin is the President & Ceo of The Michigan Women's Foundation. The CEO's salary of The Michigan Women's Foundation is $251,947 and their total compensation is $260,572.
Official website here: www.miwf.org
What is the revenue of The Michigan Women's Foundation?
The Michigan Women's Foundation's revenue in 2022 was $2,557,642.
Official website here: www.miwf.org
Who are the executives of The Michigan Women's Foundation and what are their salaries?
The average compensation at The Michigan Women's Foundation during 2022 was $67,209. There are 22 employees and 236 volunteers at The Michigan Women's Foundation.
Here are 20 key members and their salaries (The Michigan Women's Foundation's CEO's salary is $251,947 and their total compensation is $260,572):
- Compensation: $251,947
- Related: $0
- Other: $8,625
- Compensation: $160,305
- Related: $0
- Other: $12,500
- Compensation: $155,680
- Related: $0
- Other: $9,126
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Official website here: www.miwf.org
Where can I find the form 990 for The Michigan Women's Foundation?
The Michigan Women's Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.miwf.org
Learn more at the official website: www.miwf.org
Mission Statement of The Michigan Women's Foundation
The Michigan Women's Foundation, a non-profit community development organization, is dedicated to expanding economic opportunities, empowering the next generation, and celebrating the accomplishments of Michigan women. With a vision to create an inclusive economy for the state, this foundation aims to enable all women and girls in Michigan to reach their full potential.
In pursuit of its mission, The Michigan Women's Foundation offers various programs and initiatives. One of its key activities is entrepreneurship, which includes pitch competitions, lending, pre- and post-lending training, coaching, and facilitation. The non-lending aspects of entrepreneurship are designed to introduce the fundamentals of starting and building a business. Furthermore, The Michigan Women's Foundation offers a financing program called lending, available to women entrepreneurs and small business owners, providing up to $50,000 in financing.
By fostering entrepreneurship and providing financial support, The Michigan Women's Foundation contributes to the economic empowerment of women in Michigan. Its mission is to create an environment where women can thrive, both personally and professionally, and ultimately, contribute to a more inclusive and prosperous state economy.
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Impact
July, 2024
The Michigan Women's Foundation's impact is focused on expanding economic opportunity, empowering the next generation, and celebrating the accomplishments of Michigan women. Through its initiatives in entrepreneurship, including pitch competitions, lending programs, training, coaching, and facilitation, the foundation aims to equip women with the tools and resources to start and grow successful businesses. By fostering a supportive environment for female entrepreneurs and small business owners, The Michigan Women's Foundation contributes to building a more inclusive economy in the state of Michigan, allowing all women and girls to reach their full potential.
This information is meant to be a general summary of The Michigan Women's 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: -$181,547
- Program Service Revenue: $294,266
- Gross Receipts: $3,300,240
Assets and Liabilities:
- Total Assets: $9,039,514
- Total Liabilities: $6,750,598
- Net Assets: $2,288,916
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MICROLOAN INTEREST
Revenue
$229,779
MICROLOAN FEES
Revenue
$64,487
Organization Details
Founding Year
1986
Phone
(313) 962-1920Principal Officer
Carolyn Cassin
Main Address
1155 BREWERY PARK BLVD 350, DETROIT, MI, 48207
Website
www.miwf.orgNTEE Category
Code: S20 - Community improvement
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