MICHIGAN TECH ENTERPRISE CORPORATI… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2002

Legal Domicile

Principal Officer

DAVID ROWE

Phone

9064877000

Tax Period

2024-07-01 to 2025-06-30

MICHIGAN TECH ENTERPRISE CORPORATION, founded in 2002, is a community nonprofit in the Community Improvement sector that reported $3.3M in total revenue in fiscal year 2024. Revenue surged 54% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.3M, a strong 41% operating margin.

Mission

TO PROMOTE ECONOMIC AND INDUSTRIAL DEVELOPMENT IN HOUGHTON COUNTY AND IN THE STATE OF MICHIGAN.

Program Service Accomplishments

Program 1

Expenses: $1,407,916 Revenue: $214,026

TO EXPAND OPPORTUNITY AND KNOWLEDGE PERTAINING TO SCIENTIFIC AND TECHNOLOGICAL RESEARCH AND DEVELOPMENT AMONG PUBLIC AND PRIVATE ENTITIES. THE ENTITY CREATED 8 NEW COMPANIES, HOUSED 10 COMPANIES...

TO EXPAND OPPORTUNITY AND KNOWLEDGE PERTAINING TO SCIENTIFIC AND TECHNOLOGICAL RESEARCH AND DEVELOPMENT AMONG PUBLIC AND PRIVATE ENTITIES. THE ENTITY CREATED 8 NEW COMPANIES, HOUSED 10 COMPANIES, CREATED 50 NEW JOBS AND RETAINED 286 JOBS IN FISCAL YEAR 2025.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,915,703

Program Service Revenue $214,026

Investment Income $173,011

Other Revenue $13,618

TOTAL REVENUE $3,316,358

Expense Breakdown

Grants Paid $0

Salaries & Benefits $967,769

Fundraising Expenses $0

Program Expenses $1,407,916

Other Expenses $1,004,726

TOTAL EXPENSES $1,972,495

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,316,358	$2,154,560	+0.5%
Expenses	$1,972,495	$1,431,852	+0.4%
Net Income	$1,343,863	$722,708	+0.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$212,638

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIC WAARA	CHAIR	1.00	Officer Director	$0	$0	$0
MARY BABCOCK	SECRETARY	1.00	Officer Director	$0	$0	$0
ANDREW BARNARD	TREASURER	1.00	Officer Director	$0	$0	$0
JEFF RATCLIFFE	VICE-CHAIR	1.00	Officer Director	$0	$0	$0
WAYNE GERSIE	BOARD MEMBER	0.50	Director	$0	$0	$0
ALAN WEST	BOARD MEMBER	0.50	Director	$0	$0	$0
LEE ROUSE	BOARD MEMBER	0.50	Director	$0	$0	$0
BRENT PETERSON	BOARD MEMBER	0.50	Director	$0	$0	$0
KEITH MEYERS	BOARD MEMBER	0.50	Director	$0	$0	$0
DAVE NYBERG	BOARD MEMBER	0.50	Director	$0	$0	$0
DAVID ROWE	CHIEF EXECUT	40.00	Officer	$165,002	$47,636	$212,638

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$3,316,358	$1,972,495	$6,270,356	$1,343,863
2024	$2,154,560	$1,431,852	$5,912,043	$722,708
2023	$1,718,234	$1,309,229	$3,491,836	$409,005
2022	$1,536,787	$1,237,493	$2,993,171	$299,294
2021	$1,494,875	$1,071,016	$3,191,054	$423,859
2020	$1,356,499	$1,283,739	$2,306,565	$72,760
2019	$1,374,193	$1,316,758	$2,208,777	$57,435
2018	$1,246,101	$1,234,175	$2,173,587	$11,926

MICHIGAN TECH ENTERPRISE CORPORATION