Invest Up

Nonprofit profile at a glance

EIN
822441360
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Marquette, MI, USA
Phone
9062510592
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$2,498,859
Expenses
$1,175,553
Assets
$2,705,062
Liabilities
$1,158,651

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

Leadership & pay

34 people listed

Executive titles in this filing

  • MARTIN F FITTANTE (CEO)

Highest reported compensation

  • MARTIN F FITTANTE (CEO): $179,398 total reported compensation

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

Overview

Mission

To enhance the vitality of the communities affected by the Michigan's upper peninsula by leveraging local resources with capital and expertise and fostering economic opportunity throughout the area.

What it reported doing in 2024

Investup undertook a number of activities and actions as well as pursued a number of initiatives in furtherance of its four strategic objectives which include promoting the region as the place to work and live, assisting with the hiring challenges that are impacting employers, and helping businesses develop, grow and expand.

Operating model

Revenue model
Grant-funded. 65% of the money available for current operations came from government grants.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 38
  • Transparency & Controls: 65
  • Accountability: 84
  • Sustainability: 68
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 30.2%; rating input score 30
  • Program expense ratio: 64%; rating input score 64
  • 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: 100%; rating input score 100; 63rd 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: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 53%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 2.3; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0.43; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 15.3%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: 22.9% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 35% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 47.7% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 30.2% of revenue deployed · 64% of spending went to programs
  • Governance: 33 of 33 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $753K in reported program spending
  • Leadership: top reported pay $179K · 34 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 30/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 18/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.