philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Michigan Tech Fund FY2022 filing

Tax-deductible

Houghton, MI501(c)(3)Since 1965EducationEIN 38-1554664Revenue $23.0M in FY2022

On file with the IRSmtu.edu/giving1400 Townsend Dr, 49931-1295 · Houghton, MITax-exempt since Jul 1955Publicly supported charity — 170(b)(1)(A)(vi)

This page gets seen. Tell your story. Claim this org.

Receives, invests, and disburse contributions raised to support Michigan Technological University.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $11.4M a year · 40% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 7.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $55K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$16.7M
8% of total assets
Looks good: liabilities are 8% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 9 voting members
Worth a look: 4 of 9 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$23.0M
-46% vs prior year
Spent
$15.9M
To programs
94%
Net assets
$193.9M
By yearFY2021–FY2025
Revenue
$23.0M
FY2022▼ -46%
Tap a bar for its year
Revenue by fiscal year
FY2021$42.7M
FY2022$23.0M
FY2023$20.7M
FY2024$27.1M
FY2025$26.8M
Expenses
$15.9M
FY2022▲ +31%
Tap a bar for its year
Expenses by fiscal year
FY2021$12.1M
FY2022$15.9M
FY2023$14.6M
FY2024$20.3M
FY2025$20.5M
Net assets
$193.9M
FY2022▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2021$199.1M
FY2022$193.9M
FY2023$205.9M
FY2024$221.6M
FY2025$236.6M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

Give Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1955.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $14.9M Management & general 6% · $928K Fundraising 0% · $65K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? The org can add a note here. Claim this org to fix it.

Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Brenda Ryan
Director
$0Pt VII · Sec A
James Parm
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
John Bacon
Director
$0Pt VII · Sec A
Karl Lapeer
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Robert Tripp
Director
$0Pt VII · Sec A
See Michigan Tech Fund executive salaries →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Claim this org to fix it.

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Invests and disburses donations to support Michigan Technological University.

Questions for Michigan Tech Fund

Tap to ask. Michigan Tech Fund sees how many people are interested.

Your first name shows with your question. Michigan Tech Fund answers here, for everyone.

Provided by the organization

Know this organization? Claim it to add your story

2 programs · $14.9M · in their own filed words · FY2021
01

The Michigan Tech Fund provides financial support to all Michigan Technological University's academic units and to its infrastructure.

$11.8Mprogram expense
02

The Michigan Tech Fund awards approximately 1,000 scholarships and fellowships to Michigan Technological University.

$3.0Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
The Ayco Charitable FoundationFY2025$35K
Petoskey-Harbor Springs Area Community FoundationFY2025$20K
Total grants receivedfrom 2 funders$55K
Grants paid · 5 grants · $75.5M · 2020–2024
Michigan Technological UniversityFY2024$18,495,980
Michigan Tech UniversityFY2023$19,049,932
Michigan Technological UniversityFY2022$12,468,567
Michigan Technological UniversityFY2021$14,680,699
Michigan Technological UniversityFY2020$10,849,851

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$23.0M
Ln 12
Gifts and grantsLn 1h$17.3M
Investment incomeLn 3$5.6M
Other incomeLn 4–11$110K
Money outPt IX
$15.9M
Ln 25
Programscol B$14.9M
Managementcol C$928K
Fundraisingcol D$65K
Owns and owesPt X
$193.9M
net assets · Ln 32
Cash and savingsLn 1–2$10.2M
Total assetsLn 16$210.6M
LiabilitiesLn 26$16.7M
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$17.3M
Noncash giftsLn 1g$3.1M
Investment incomeLn 3$5.6M
Other incomeLn 4–11$110K
Gains on assetsLn 7$3.1M
Total revenueLn 12$23.0M
Assets in detailPt X, end of year
CashLn 1$2K
SavingsLn 2$10.2M
Cash and savings togetherLn 1–2$10.2M
InvestmentsLn 11–13$171.8M
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$9.5M
Total assetsLn 16$210.6M
LiabilitiesLn 26$16.7M
Net assetsLn 32$193.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 612
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$11.2M$10.2M
InvestmentsLn 11–13$177.4M$171.8M
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$217.1M$210.6M
LiabilitiesLn 26$18.0M$16.7M
Net assetsLn 32$199.1M$193.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$14.9M$14.9M
Investment management feesLn 11f$509K$509K
Other fees for servicesLn 11g$395K$0$395K$0
Office expensesLn 13$89K$24K$65K
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$15.9M$14.9M$928K$65K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $26.8M$20.5M$6.3M$236.6M 990 PDF
FY2024 $27.1M$20.3M$6.7M$221.6M 990 PDF
FY2023 $20.7M$14.6M$6.1M$205.9M 990 PDF
FY2022 Viewing $23.0M$15.9M$7.2M$193.9M 990 PDF
FY2021 $42.7M$12.1M$30.6M$199.1M 990 PDF

Want to add your own materials alongside these filings? Claim this org

Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $23,017,845 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $34,977,235$17,259,222
I-9 Program service revenue$0
I-10 Investment incomePrior year $7,636,168$5,648,230
I-11 Other revenuePrior year $61,031$110,393
I-12 Total revenuePrior year $42,674,434$23,017,845
I-13 Grants and similar amounts paidPrior year $11,114,994$14,873,381
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,004,435$993,162
I-18 Total expensesPrior year $12,119,429$15,866,543
I-19 Revenue less expensesPrior year $30,555,005$7,151,302
Part VI · Governance 4 of 9 board members independent, 1 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members4
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $23,017,845 across 7 lines filed
VIII-1f All other contributions, gifts and grants$17,259,222
VIII-1g Noncash contributions (included above)$3,127,906
VIII-1h Total contributions, gifts and grants$17,259,222
VIII-3 Investment incomeExcluded from tax $2,554,135$2,554,135
VIII-7 Net gain or loss on sales of assetsExcluded from tax $3,094,095$3,094,095
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $110,393$110,393
VIII-12 Total revenueRelated to mission $110,393 · Unrelated business $0 · Excluded from tax $5,648,230$23,017,845
Part IX · Statement of functional expenses $15,866,543 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $14,873,381$14,873,381
IX-11f Investment management feesManagement $508,638$508,638
IX-11g Other fees for servicesPrograms $0 · Management $395,353 · Fundraising $0$395,353
IX-13 Office expensesManagement $24,171 · Fundraising $65,000$89,171
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $14,873,381 · Management $928,162 · Fundraising $65,000$15,866,543
Part X · Balance sheet $210,588,714 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $3,110$2,222
X-2 Savings and temporary cash investmentsStart of year $11,165,150$10,225,371
X-3 Pledges and grants receivableStart of year $19,038,677$19,068,420
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $140,187,691$122,049,547
X-12 Other securitiesStart of year $37,201,590$49,765,647
X-15 Other assetsStart of year $9,465,290$9,477,507
X-16 Total assetsStart of year $217,061,508$210,588,714
X-17 Accounts payable and accrued expensesStart of year $200,388$292,965
X-25 Other liabilitiesStart of year $17,766,850$16,416,477
X-26 Total liabilitiesStart of year $17,967,238$16,709,442
X-27 Net assets without donor restrictionsStart of year $8,799,716$9,189,209
X-28 Net assets with donor restrictionsStart of year $190,294,554$184,690,063
X-32 Total net assets or fund balancesStart of year $199,094,270$193,879,272
X-33 Total liabilities and net assetsStart of year $217,061,508$210,588,714
Part XI · Reconciliation of net assets $193,879,272 net assets at year end
XI-1 Total revenue$23,017,845
XI-2 Total expenses$15,866,543
XI-3 Revenue less expenses$7,151,302
XI-4 Net assets at start of year$199,094,270
XI-5 Net unrealized gains (losses) on investments−$12,366,300
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$193,879,272

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.