Invest Michigan

Nonprofit profile at a glance

EIN
463865120
IRS 990 coverage
2014–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Northville, MI, US
Phone
3134054103
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Official website

Reported finances

Revenue
$-462,741
Expenses
$362,353
Assets
$13,797,677
Liabilities
$15,022

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

Leadership & pay

4 people listed

Executive titles in this filing

  • CHARLES MORET (PRESIDENT & CEO)

Highest reported compensation

  • CHARLES MORET (PRESIDENT & CEO): $250,000 total reported compensation

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

Overview

Mission

Invest Michigan invests in Michigan-based startup and early-stage companies.

What it reported doing in 2024

Organization's mission is to enhance technologicial innovation by creating a nurturing environment designed to attract start-up and emerging technology-oriented businesses in Michigan. Funding and investment facilitation program to identify, direct and operate programs associated with assisting in formation of start-up and early stage technology based companies in Michigan. Expanding and diversifying the local economy by increasing the number of high-tech companies in the state and to foster economic development by providing support and educational programming to early stage companies and entrepreneurs.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 82
  • Accountability: 70
  • Sustainability: 37
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.1%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 24th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -178.3%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 38.08; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 69%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 1% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: -20.4% per year; rating input score 0; 19th percentile among comparable filings
  • Asset growth: 9.2% per year; rating input score 100; 78th percentile among comparable filings

Details

  • What they do: 1 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 100% of revenue deployed · 96.1% of spending went to programs
  • Governance: 3 of 4 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $348K in reported program spending
  • Leadership: top reported pay $250K · 4 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 14/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.