Milestone Growth Capital Institute
Nonprofit profile at a glance
- EIN
- 933076680
- IRS 990 coverage
- 2024–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-N 2023
- Location
- Detroit, MI, USA
- Phone
- 3133005977
- Rating
- 58
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Economic Development
Reported finances
- Revenue
- $244,356
- Expenses
- $174,711
- Assets
- $92,359
- Liabilities
- $299
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
3 people listed
Executive titles in this filing
- DAWN BATTS (PRESIDENT AND C.E.O.)
Highest reported compensation
- DAWN BATTS (PRESIDENT AND C.E.O.): $36,450 total reported compensation
- ANNE MAGHAS (CHIEF OPERATING OFFICER): $24,300 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
We are champions of an ACCESSIBLE ecosystem. We support angel investors and founders on parallel journeys to understand pathways to the early-stage ecosystem.
What it reported doing in 2024
Milestone growth capital institute ("mgci") advances its mission through education, research, and community-building programs that strengthen the early-stage entrepreneurial ecosystem. During the reporting year, the institute offered two multi-week cohort programs for emerging investors and founders, with training on critical business milestones, early stage investing, and funding options. See schedule o for additional information.mgci's data-driven research generated actionable insights to increase the plurality of ecosystem participants; this included completing one major research study in collaboration with a local university. This study included 55 in-depth interviews with entrepreneurial ecosystem stakeholders. To foster meaningful connections among angel investors, mgci hosted an angel forum, engaging nearly 100 participants. Together, these efforts build and support innovation, deepen knowledge about navigating the entrepreneurial ecosystem, and contribute to building a more collaborative entrepreneurial community.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 81% 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 - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.
Rating breakdown
- Financial Efficiency: 53
- Transparency & Controls: 94
- Accountability: 28
- Sustainability: 53
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 52.3%; rating input score 52
- Program expense ratio: 73.2%; rating input score 73
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 98.9%; rating input score 99; 59th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 33.3%; rating input score 33; 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: 28.5%; rating input score 81; 81st percentile among comparable filings
- Total-asset coverage ratio: 0.53; rating input score 26; 26th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 52; 52nd percentile among comparable filings
- Officer compensation ratio: 34.8%; rating input score 8; 8th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- What they do: 3 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 52.3% of revenue deployed · 73.2% of spending went to programs
- Governance: 1 of 3 board members independent · 2 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $128K in reported program spending
- Leadership: top reported pay $36K · 3 people listed
- Consistency: 25 of 25 current checks pass
- Schedules: 5 filed schedules · includes major donors and grants
- Filing history: 1 filing year from 2024
- Contacts: How to reach this organization
- Money network: 5 filed money-flow records
- Related organizations: 3 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.
- Review — Financial Efficiency: Mission deployment rate scored 52/100.
- Moderate — Accountability: Independent voting board scored 33/100.
- High — Accountability: Governance controls: 6 of 8 not reported.
- High — Sustainability: Total-asset coverage ratio scored 26/100.
- High — Sustainability: Officer compensation ratio scored 8/100.
- Review — Sustainability: Liabilities to assets ratio scored 52/100.