Michigan Chamber Foundation
Nonprofit profile at a glance
- EIN
- 382647323
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024, Form 990-EZ 2018
- Location
- Lansing, MI, USA
- Phone
- 5173712100
- Rating
- 51
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Printing, Publishing
Reported finances
- Revenue
- $819,651
- Expenses
- $478,456
- Assets
- $599,096
- Liabilities
- $104,904
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- JAMES HOLCOMB (PRESIDENT)
Highest reported compensation
- JAMES HOLCOMB (PRESIDENT): $556,409 total reported compensation
- BOB THOMAS (TREASURER): $256,412 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
1) to plan and conduct nonpartisan public education programs regarding free enterprise, productivity and basic economic issues affecting the state of Michigan.2) to establish and operate a leadership institute designed to provide promising future leaders in business, politics, the arts, education, and social services with an assessment of Michigan's assets, challenges, and opportunities in order to give participants the background and network of contacts necessary to make a positive impact on Michigan's future.3) to conduct nonpartisan research and distribute policy studies on issues facing Michigan including, but not limited to taxation, government regulation, health care, hazardous waste, crime, tourism and recreation, welfare, government spending and transportation.4) to encourage and support the mission of the Michigan chamber to promote conditions favorable to job creation and business growth in Michigan.
What it reported doing in 2024
Michigan chamber foundation (the "foundation") provides access to information and nonpartisan educational programs for the business community of Michigan through programs and events.chamber day at the capitol: an annual event to convene chambers of commerce staff and volunteers and provide education on issues of mutual interest.diversity, equity, and inclusion series: a series of events to help employers navigate and model best practices for an inclusive workplace.sustainability summit: an annual event to connect business leaders with strategies and insights on key environmental sustainability issues.economic workforce summit: an annual event for business leaders to forecast key economic, business and workforce trends.Michigan athena series: an annual series of events to connect women business leaders and provide learning opportunities to support women in leadership.training & education: a monthly series of education events to connect business leaders with timely information to meet regulatory and legal requirements.Michigan energy workforce development consortium: an industry-led partnership to address current and future workforce issues affecting Michigan's energy workforce including efforts to grow and diversify career opportunities.
Operating model
- Revenue model
- Affiliate-supported. 61% of the money available for current operations came from contributions from related organizations.
- 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
MIXED - Most voting board members are independent and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 29
- Transparency & Controls: 44
- Accountability: 92
- Sustainability: 64
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 25.5%; rating input score 26
- Program expense ratio: 43.8%; rating input score 44
- 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: Scored; rating input score 0
- Grant itemization coverage: Scored; rating input score 0
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 85.7%; rating input score 86; 20th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- 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: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 41.6%; rating input score 90; 90th percentile among comparable filings
- Total-asset coverage ratio: 1.25; rating input score 50; 50th percentile among comparable filings
- Liabilities to assets ratio: 0.18; rating input score 34; 34th percentile among comparable filings
- Officer compensation ratio: 16%; rating input score 21; 21st percentile among comparable filings
Growth
- Program expense growth: 7.1% per year; rating input score 100; 52nd percentile among comparable filings
- Revenue growth: 13.3% per year; rating input score 100; 75th percentile among comparable filings
- Asset growth: 5.3% per year; rating input score 100; 40th percentile among comparable filings
Details
- Where the money goes: 25.5% of revenue deployed · 43.8% of spending went to programs
- Governance: 6 of 7 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $209K in reported program spending
- Leadership: top reported pay $556K · 7 people listed · 0 of 6 pay-setting controls reported
- Consistency: 20 of 20 current checks pass
- Schedules: 7 filed schedules · includes major donors, foreign activity, and executive pay
- Filing history: 10 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Related organizations: 7 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 — Financial Efficiency: Mission deployment rate scored 26/100.
- Moderate — Financial Efficiency: Program expense ratio scored 44/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- High — Transparency & Controls: Grant itemization coverage scored 0/100.
- Review — Sustainability: Total-asset coverage ratio scored 50/100.
- High — Sustainability: Officer compensation ratio scored 21/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 34/100.