Michigan Retailers Foundation

Nonprofit profile at a glance

EIN
386159732
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Lansing, MI, USA
Phone
5173725656
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Business and Industry

Reported finances

Revenue
$173,219
Expenses
$118,367
Assets
$2,431,731
Liabilities
$0

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

Leadership & pay

9 people listed

Executive titles in this filing

  • WILLIAM J HALLAN (PRESIDENT/CE)

Highest reported compensation

  • WILLIAM J HALLAN (PRESIDENT/CE): $579,595 total reported compensation
  • DAN MARSHALL (VICE CHAIR): $19,093 total reported compensation
  • PETER SOBELTON (TREASURER): $16,644 total reported compensation

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

Overview

Mission

The foundation is organized exclusively for charitable, educational, and scientific purposes, including the primary purpose of administering funds for educational and charitable purposes and the making of distributions to organizations that qualify as exempt organizations under section 501(c)(3) of the internal revenue code, or the corresponding section of any future federal code.

What it reported doing in 2024

The foundation awards scholarships to college undergrads to be applied to educational expenses at accredited nonprofit colleges, universities, or approved educational and professional training institutes, and provides sponsorships to 501(c)(3) educational programs.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 78% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 71
  • Accountability: 84
  • Sustainability: 77
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.3%; rating input score 84
  • Program expense ratio: 53%; rating input score 53
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd 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: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 24th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 31.7%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 20.54; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 63.4%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 2.1% per year; rating input score 100; 40th percentile among comparable filings
  • Revenue growth: 3.4% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 4.9% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 84.3% of revenue deployed · 53% of spending went to programs
  • Governance: 8 of 9 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $63K in reported program spending
  • Leadership: top reported pay $580K · 9 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 16 of 17 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 6 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.
  • Review — Financial Efficiency: Program expense ratio scored 53/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 2/100.