Michigan Veterans Foundations Inc

EIN: 382857628 501(c)(3)

Detroit, MI

Total Revenue
$1,527,944
Total Expenses
$1,930,306
Total Assets
$11,484,114
Net Assets
$11,362,038
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1989
Legal Domicile
MI
Principal Officer
Raeda Dabaja CEO
Tax Period
2023-10-01 to 2024-09-30

Michigan Veterans Foundations Inc, founded in 1989, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. Expenses of $1.9M exceeded revenue, resulting in a 26% operating deficit.

Mission

Provides at risk, and homeless veterans with temporary housing and supportive services, e.g., medical, vocational, psychological, and educational training to regain or improve their status in society.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,502,483
Program Service Revenue $25,461
Investment Income $0
Other Revenue $0
TOTAL REVENUE $1,527,944

Expense Breakdown

Grants Paid $0
Salaries & Benefits $790,147
Fundraising Expenses $0
Program Expenses $1,572,704
Other Expenses $1,140,159
TOTAL EXPENSES $1,930,306

Year-over-Year Comparison

2023 2022 Change
Revenue $1,527,944 $1,696,591 -0.1%
Expenses $1,930,306 $2,178,627 -0.1%
Net Income $-402,362 $-482,036 -0.2%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
9
Employees
27
Volunteers
77

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
5
$94,231
Total Directors
9
$0
Key Employees
1
$94,231
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Raeda Dabaja Chief Executive Officer 40.00
Officer Key Emp
$94,231 $0 $94,231
Ronnie Nellon Member 1.00
Director
$0 $0 $0
Judy Valdez Member 1.00
Director
$0 $0 $0
Dan Robinson Member 1.00
Director
$0 $0 $0
Vida Frost Member 1.00
Director
$0 $0 $0
James Camden Member 1.00
Director
$0 $0 $0
Linda Hamlet Vice President 1.00
Officer Director
$0 $0 $0
Suhail Abueita President 1.00
Officer Director
$0 $0 $0
Marian Belaire Secretary 1.00
Officer Director
$0 $0 $0
Rose Solak Treasurer 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 $1,527,944 $1,930,306 $11,484,114 $-402,362
2023 $1,696,591 $2,178,627 $11,800,152 $-482,036
2022 $2,236,161 $2,823,853 $12,270,365 $-587,692
2021 $2,381,059 $2,720,080 $12,857,454 $-339,021
2020 $1,763,809 $2,715,648 $13,414,553 $-951,839
2019 $1,889,718 $2,858,470 $14,170,043 $-968,752
2018 $2,085,561 $3,028,949 $15,129,303 $-943,388
2017 $7,491,800 $3,255,681 $16,131,522 $4,236,119
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