Michigan Economic Developers Association

Nonprofit profile at a glance

EIN
382900929
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Lansing, MI, USA
Phone
5172410011
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$528,291
Expenses
$430,471
Assets
$513,074
Liabilities
$3,361

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • MARY MYERS (PRESIDENT)
  • NICK POSAVETZ (VICE PRESIDENT)
  • MEGHAN SWAIN (EXECUTIVE DIRECTOR)

People named in this filing

  • MARY MYERS (PRESIDENT)
  • JOHN WOLF-MYER (MEMBER)
  • NORA BALGOYEN (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To advance economic development throughout Michigan and increase an individuals (both member and non-member) effectiveness in the economic development profession through educational programs, meetings and literature.

What it reported doing in 2025

Membership meetings, seminars, lunches, speakers, tours, publications, newsletters, directories to provide economic development services. Approximately 500 members benefitted.

Operating model

Revenue model
Earned-program. 98% 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 - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 51
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 64
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 51.9%; rating input score 52
  • Program expense ratio: 64.9%; rating input score 65
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 18.5%; rating input score 70; 70th percentile among comparable filings
  • Total-asset coverage ratio: 1.19; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 63; 63rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 0.2% per year; rating input score 100; 16th percentile among comparable filings
  • Revenue growth: 1.1% per year; rating input score 100; 15th percentile among comparable filings
  • Asset growth: 5.3% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 51.9% of revenue deployed · 64.9% of spending went to programs
  • Governance: 10 of 10 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $279K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 52/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.