MICHIGAN TECHNOLOGY COMMERCIALIZAT… - 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

2001

Legal Domicile

Principal Officer

JAMES A RICHTER

Tax Period

2023-01-01 to 2023-12-31

MICHIGAN TECHNOLOGY COMMERCIALIZATION CORPORATION, founded in 2001, is a community nonprofit in the Science & Technology sector that reported $1.9M in total revenue in fiscal year 2023. Revenue fell 55% from the prior year — a significant decline worth monitoring.

Mission

PROMOTE BASIC AND APPLIED RESEARCH TO SUPPORT FEDERAL AND STATE PROGRAMS. PROVIDE EDUCATIONAL OPPORTUNITIES FOR GRADUATES IN MICHIGAN.

Program Service Accomplishments

Program 1

Expenses: $1,568,993 Revenue: $1,573,940

SUPPORTING FEDERAL PROGRAMS: THE MICHIGAN RESEARCH INSTITUTE IDENTIFIES BASIC RESEARCH AND DEVELOPMENT THAT CAN BE MATCHED TO HIGH PRIORITY DEPARTMENT OF DEFENSE NEEDS THROUGHOUT THE SERVICES...

SUPPORTING FEDERAL PROGRAMS: THE MICHIGAN RESEARCH INSTITUTE IDENTIFIES BASIC RESEARCH AND DEVELOPMENT THAT CAN BE MATCHED TO HIGH PRIORITY DEPARTMENT OF DEFENSE NEEDS THROUGHOUT THE SERVICES INCLUDING ARMY, MARINE CORPS, NAVY, AIR FORCE AND NATIONAL GUARD. THIS INCLUDES MILITARY VEHICLES, AIRCRAFT AND GENERAL MEDICAL REQUIREMENTS.

Program 2

SUPPORT STATE OF MICHIGAN INITIATIVES: THE MICHIGAN RESEARCH INSTITUTE SUPPORTS THIS AREA BY PROVIDING A BUSINESS INCUBATOR FOR ADVANCED TECHNOLOGY STARTUP COMPANIES INCLUDING SUPPORTING SERVICES...

SUPPORT STATE OF MICHIGAN INITIATIVES: THE MICHIGAN RESEARCH INSTITUTE SUPPORTS THIS AREA BY PROVIDING A BUSINESS INCUBATOR FOR ADVANCED TECHNOLOGY STARTUP COMPANIES INCLUDING SUPPORTING SERVICES. THE ORGANIZATION ALSO PROMOTES APPLICATION OF RESEARCH AND DEVELOPMENT TO MICHIGAN DEFENSE COMPANIES PROVIDING SOLUTIONS TO THE DEPARTMENT OF DEFENSE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,573,940

Investment Income $24,508

Other Revenue $325,186

TOTAL REVENUE $1,923,634

Expense Breakdown

Grants Paid $1,507,673

Salaries & Benefits $190,831

Fundraising Expenses $0

Program Expenses $1,568,993

Other Expenses $366,562

TOTAL EXPENSES $2,065,066

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,923,634	$4,271,855	-0.5%
Expenses	$2,065,066	$5,679,082	-0.6%
Net Income	$-141,432	$-1,407,227	-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

N/A

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

$88,035

Total Directors

$88,035

Key Employees

$102,796

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES A RICHTER	PRESIDENT	40.00	Officer Director	$0	$88,035	$88,035
ANDREW C TAYLOR	OPERATIONS	40.00	Key Emp	$0	$59,296	$59,296
ROBERT C LAW	DEVELOPMENT	40.00	Key Emp	$0	$43,500	$43,500
ANDREA B DARDEN	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES A FIEDLER	SECY TREAS	1.00	Officer Director	$0	$0	$0

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
2024	No data	No data	No data	No data
2023	$1,923,634	$2,065,066	$3,652,364	$-141,432
2022	$4,271,855	$5,679,082	$3,986,800	$-1,407,227
2021	$12,527,491	$10,989,738	$6,134,107	$1,537,753
2020	$14,546,758	$14,452,677	$4,604,131	$94,081

MICHIGAN TECHNOLOGY COMMERCIALIZATION CORPORATION