Michigan Information Technology Center Foundation

Nonprofit profile at a glance

EIN
753078459
IRS 990 coverage
2010–2010
Forms available
Form 990 2010
Location
Ann Arbor, MI, USA
Phone
7349134250
Rating confidence
Limited
Sector
Computer Science

Reported finances

Revenue
$477,724
Expenses
$1,545,606
Assets
$279,169
Liabilities
$47,720

Source: IRS Form 990. Selected filing: tax year 2010. Amounts in USD.

Leadership & pay

5 people listed

Source: IRS Form 990. Selected filing: tax year 2010. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide funding support for the occupancy of a technological state-of-the-art building, formerly known as the Michigan information technology center, by leading research and educational high technology 501(c)(3) organizations.

What it reported doing in 2010

Providing funds for the development of the former Michigan information technology center that will provide space for leading research and educational high technology nonprofits to occupy, as well as lessen the burden of government.

Operating model

Revenue model
Other-operating. 74% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 64
  • Accountability: 32
  • Sustainability: 12
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 59th 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 40%; rating input score 40; 15th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -223.5%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0.18; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 9.3%; rating input score 39; 39th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 2 of 5 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.3M in reported program spending
  • Leadership: top reported pay $354K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Independent voting board scored 40/100.
  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.
  • Moderate — Sustainability: Officer compensation ratio scored 39/100.