MICHIGAN EDUCATION EXCELLENCE FOUN… - Form 990 Financial Data

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2011

Legal Domicile

Principal Officer

PETER REMINGTON

Phone

2487239570

Tax Period

2023-01-01 to 2023-12-31

MICHIGAN EDUCATION EXCELLENCE FOUNDATION, founded in 2011, is a small nonprofit in the Education sector that reported $350K in total revenue in fiscal year 2023. Revenue surged 250% from the prior year, signaling strong growth momentum. Expenses of $643K exceeded revenue, resulting in a 84% operating deficit.

Mission

DEDICATED TO SUPPORTING INNOVATIVE, TRANSFORMATIVE LEARNING FOR ALL STUDENTS IN MICHIGAN, THE FOUNDATION COLLECTS, INVESTS, AND DISTRIBUTES FUNDS TO BOARD DESIGNATED INITIATIVES, LIKE THE DETROIT PROMISE, AS PART OF OUR MISSION TO IMPROVE AND REFORM EDUCATION IN MICHIGAN.

Program Service Accomplishments

Program 1

Expenses: $540,593 Revenue: $74,553

FUNDING TO THE DETROIT REGIONAL CHAMBER FOUNDATION FOR THE DETROIT PROMISE, WHICH GIVES SCHOLARSHIPS TO ANY GRADUATE IN DETROIT TO ATTEND A TWO-YEAR COMMUNITY COLLEGE OR A FOUR-YEAR UNIVERSITY IN THE STATE OF MICHIGAN. AS PART OF THE DETROIT PROMISE, MEEF ALSO FUNDS THE DETROIT PROMISE PATH, THE COACHING PROGRAM AT THE COMMUNITY COLLEGES.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $275,284

Program Service Revenue $74,553

Investment Income $0

Other Revenue $0

TOTAL REVENUE $349,837

Expense Breakdown

Grants Paid $375,000

Salaries & Benefits $0

Fundraising Expenses $40,000

Program Expenses $540,593

Other Expenses $227,558

TOTAL EXPENSES $642,558

Year-over-Year Comparison

	2023	2022	Change
Revenue	$349,837	$100,025	+2.5%
Expenses	$642,558	$135,087	+3.8%
Net Income	$-292,721	$-35,062	+7.3%

Key Indicators

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

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SANDY BARUAH	DIRECTOR	1.00	Director	$0	$0	$0
JEFF DONOFRIO	DIRECTOR	1.00	Director	$0	$0	$0
FAYE NELSON	DIRECTOR	1.00	Director	$0	$0	$0
MONICA RODRIGUEZ	DIRECTOR	1.00	Director	$0	$0	$0
ASHLEY AIDENBAUM	DIRECTOR	1.00	Director	$0	$0	$0
EVAN WEINER	TREASURER	1.00	Officer Director	$0	$0	$0
LARRY SIMMONS	VICE CHAIR	1.00	Officer Director	$0	$0	$0
STEVEN HAMP	CHAIR	1.00	Officer Director	$0	$0	$0
PETER REMINGTON	PRESIDENT/CEO	10.00	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	$349,837	$642,558	$8,715	$-292,721
2022	$100,025	$135,087	$271,261	$-35,062
2021	$242,013	$648,128	$206,323	$-406,115
2020	$649,074	$1,983,469	$542,438	$-1,334,395
2019	$2,045,060	$1,523,419	$1,871,833	$521,641
2018	$3,237,068	$2,319,358	$1,375,192	$917,710

MICHIGAN EDUCATION EXCELLENCE FOUNDATION