Business Leaders for Michigan

Nonprofit profile at a glance

EIN
381941576
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Detroit, MI, USA
Phone
3132595400
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$4,495,456
Expenses
$4,764,332
Assets
$7,671,835
Liabilities
$1,374,814

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

114 people listed

Executive titles in this filing

  • JEFFREY DONOFRIO (PRESIDENT)
  • RANDI BERRIS (VICE PRESIDENT)
  • TIMOTHY SOWTON (VICE PRESIDENT)
  • LINDSAY CASE-PALSROK (VICE PRESIDENT)

Highest reported compensation

  • JEFFREY DONOFRIO (PRESIDENT): $721,763 total reported compensation
  • JACQUELINE WIGGINS (COO/TREASURER/SECRETARY): $351,729 total reported compensation
  • RANDI BERRIS (VICE PRESIDENT): $333,919 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Business leaders for Michigan is a nonprofit, nonpartisan statewide organization driven by ceos from the state's leading employers, all working toward a shared goal: making Michigan a top 10 state for jobs, talent and a thriving economy. Guided by research and diverse perspectives, we develop strategies, shape public policy and drive initiatives that bring people and ideas together to ignite change - for growth, shared prosperity and lasting progress.

What it reported doing in 2024

- bolster business climate: preserve flexibility in the workplace for employers and employees. Spearhead advocacy efforts and/or support coalitions opposing harmful proposals. Build coalitions; identify and promote alternatives to extreme proposals. Champion long-term solutions that uplift michiganders.- holistic economic development: strengthen and streamline the state's toolbox around business attraction/retention, entrepreneurship, and innovation. Link to holistic needs (i.e., tax credits, site development, access to talent, etc.).- k-12 education reform: launch Michigan debuted the blm-designed district comparison dashboard to help build awareness of our public-school system's underperformance.

Operating model

Revenue model
Earned-program. 81% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 79
  • Accountability: 95
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.7%; rating input score 82
  • Program expense ratio: 84.8%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 99%; rating input score 99; 27th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -6%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 1.61; rating input score 54; 54th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 47; 47th percentile among comparable filings
  • Officer compensation ratio: 55.7%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 3.4% per year; rating input score 100; 30th percentile among comparable filings
  • Revenue growth: 3% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: 9.7% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 81.7% of revenue deployed · 84.8% of spending went to programs
  • Governance: 98 of 99 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $4M in reported program spending
  • Leadership: top reported pay $722K · 114 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 18/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 54/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 47/100.