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Venture Michigan Fund
Venture Michigan Fund reported $30.8 million in revenue and $1.8 million in expenses for calendar year 2024. Of every $100 it spent, $94.37 went to program services, $5.63 to management and general costs and $0.00 to fundraising. Its largest source of revenue was investment income: 23.1% of the total. Revenue rose 69% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $1.8MFor context, the median across 479 covered community improvement & capacity building charities: $90.45 programs, $9.31 management, $0.24 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $31MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 94.4% | 89.1% |
| Management & general Part IX 25(C) ÷ 25(A) | 5.6% | 9.2% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.2% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | Not reported | $0.00 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 0.0% | 80.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 14.9% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.0% | 11.9% |
| Highest reported compensation Part VII-A, columns D–F | Not reported | $291,103 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | Not reported | 1.49% |
| People paid over $100,000 Part VII, line 2 | 0 | 5 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 1,685.5 | 9.2 |
| Independent voting board members Part VI 1a–1b | 7 of 7 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expense6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b7 · 7 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13No
- Document retention policy Part VI 14No
- Independent process for top executive pay Part VI 15aNo
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 50
- Volunteers Part I, line 67
Correct a figure or respond
Every number above is copied from Venture Michigan Fund's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Venture Michigan Fund, you can publish a response that is linked from this page.
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Of every $100 Venture Michigan Fund spent in 2024, $94.37 went to programs. The full breakdown, from its IRS Form 990:
Questions people ask
How much of Venture Michigan Fund's spending goes to programs?
In calendar year 2024, Venture Michigan Fund reported that 94.4% of its $1.8 million in expenses went to program services, 5.6% to management and general and 0.0% to fundraising (Form 990, Part IX).
Where does Venture Michigan Fund get its money?
Of $30.8 million in revenue in calendar year 2024, 0.0% came from contributions and grants and 0.0% from program service revenue (Form 990, Part VIII).
Is Venture Michigan Fund a registered charity?
The IRS lists EIN 20-1443645 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202543219349313649 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202433199349317183 · read the filing
- 2022: Form 990 for calendar year 2022, object 202313199349307081 · read the filing
- 2021: Form 990 for calendar year 2021, object 202203199349315025 · read the filing
- 2020: Form 990 for calendar year 2020, object 202143099349301284 · read the filing
- 2019: Form 990 for calendar year 2019, object 202003109349302510 · read the filing
All filings for EIN 20-1443645: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.