Business Leaders for Michigan Foundation

Nonprofit profile at a glance

EIN
237101167
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Detroit, MI, USA
Phone
3132595400
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$738,061
Expenses
$534,157
Assets
$2,431,091
Liabilities
$3,103

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

Leadership & pay

112 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
Membership-supported. 79% of the money available for current operations came from membership dues.
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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 65
  • Accountability: 86
  • Sustainability: 73
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.7%; rating input score 65
  • Program expense ratio: 85.4%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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; 26th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 27.6%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 4.55; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 79; 79th percentile among comparable filings
  • Officer compensation ratio: 53.3%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -6.1% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -6.9% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: 3.9% per year; rating input score 100; 34th percentile among comparable filings

Details

  • Where the money goes: 64.7% of revenue deployed · 85.4% of spending went to programs
  • Governance: 98 of 99 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $456K in reported program spending
  • Leadership: top reported pay $722K · 112 people listed · 0 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
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.