MICHIGAN VENTURE CAPITAL ASSOCIATI… - 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

ARA TOPOUZIAN

Phone

8445001014

Tax Period

2024-01-01 to 2024-12-31

MICHIGAN VENTURE CAPITAL ASSOCIATION, founded in 2002, is a small nonprofit that reported $508K in total revenue in fiscal year 2024. Expenses of $458K left a modest 10% surplus.

Mission

THE MISSION OF THE ORGANIZATION IS TO GROW AND SUSTAIN A VIBRANT VENTURE CAPITAL COMMUNITY IN MICHIGAN BY PROMOTING AN ENTREPENURIAL ENVIRONMENT THROUGH ENCOURAGING INVESTMENTS IN NEW AND EMERGING COMPANIES, EDUCATING THE COMMUNITY TO THE BENEFITS OF VENTURE CAPITAL INVESTING AND PROMOTING PROFESSIONAL DEVELOPMENT OF MEMBERS THROUGH RESEARCH AND PROFESSIONAL DEVELOPMENT OPPORTUNITIES.

Program Service Accomplishments

Program 1

THE VENTURE FELLOWS PROGRAM IS DESIGNED TO INCREASE THE NUMBER OF VENTURE PROFESSIONALS IN MICHIGAN AND ACCELERATE FUNDRAISING AND DEPLOYMENT OF CAPITAL INTO EARLY STAGE COMPANIES. THE PROGRAM IS...

THE VENTURE FELLOWS PROGRAM IS DESIGNED TO INCREASE THE NUMBER OF VENTURE PROFESSIONALS IN MICHIGAN AND ACCELERATE FUNDRAISING AND DEPLOYMENT OF CAPITAL INTO EARLY STAGE COMPANIES. THE PROGRAM IS DESIGNED TO CREATE THE NEXT GENERATION OF VENTURE CAPITALISTS WITH TRACK RECORDS IN MICHIGAN BY EXPANDING JOB OPPORTUNITIES AT MICHIGAN VENTURE CAPITAL FIRMS.

Program 2

EXECUTIVE CONNECT PROGRAM AIMS TO SIGNIFICANTLY IMPACT AN EARLY-STAGE COMPANY'S CHANCE OF SUCCESS BY PROVIDING ACCESS TO CORPORATE EXECUTIVES WITH RELEVANT MARKET OR INDUSTRY EXPERTISE OR STRONG...

EXECUTIVE CONNECT PROGRAM AIMS TO SIGNIFICANTLY IMPACT AN EARLY-STAGE COMPANY'S CHANCE OF SUCCESS BY PROVIDING ACCESS TO CORPORATE EXECUTIVES WITH RELEVANT MARKET OR INDUSTRY EXPERTISE OR STRONG DOMAIN KNOWLEDGE IN KEY AREAS. STARTUPS CAN EXPECT TO BE MATCHED WITH EXPERIENCED LEADERS WHO CAN SERVE AS BOARD MEMBERS, MENTORS AND ADVISORS AS THEY PLAN AND EXECUTE THEIR SALES, PRODUCTIVITY, AND FINANCIAL GROWTH STRATEGIES.

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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 $292,345

Program Service Revenue $166,585

Investment Income $48,681

Other Revenue $0

TOTAL REVENUE $507,611

Expense Breakdown

Grants Paid $0

Salaries & Benefits $284,515

Fundraising Expenses $0

Other Expenses $173,844

TOTAL EXPENSES $458,359

Year-over-Year Comparison

	2024	2023	Change
Revenue	$507,611	$476,104	+0.1%
Expenses	$458,359	$575,723	-0.2%
Net Income	$49,252	$-99,619	-1.5%

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

$194,820

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATTI GLAZA	IMMEDIATE PAST CHAIR	5.00	Officer Director	$0	$0	$0
KIM PASQUINO	CHAIRPERSON	5.00	Officer Director	$0	$0	$0
PAUL MCCREADIE	TREASURER	5.00	Officer Director	$0	$0	$0
JEFF RINVELT	DIRECTOR	5.00	Officer Director	$0	$0	$0
ADRIAN FORTINO	DIRECTOR	5.00	Director	$0	$0	$0
KURT BAUMGARTEN	DIRECTOR	5.00	Director	$0	$0	$0
BEN BERNSTEIN	VICE CHAIRPERSON	5.00	Director	$0	$0	$0
MEGAN MALM	DIRECTOR	5.00	Director	$0	$0	$0
DOUG NEAL	DIRECTOR	5.00	Director	$0	$0	$0
CAMILA NOORDELOOS	DIRECTOR	5.00	Director	$0	$0	$0
KELLY SEXTON PHD	DIRECTOR	5.00	Director	$0	$0	$0
ALISON TODAK	DIRECTOR	5.00	Director	$0	$0	$0
JEFF WESLEY	DIRECTOR	5.00	Director	$0	$0	$0
ARA TOPOUZIAN	EXECUTIVE DIRECTOR	40.00	Officer	$194,820	$0	$194,820

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	$507,611	$458,359	$1,231,283	$49,252
2023	$476,104	$575,723	$1,149,463	$-99,619
2022	$481,551	$646,768	$1,357,564	$-165,217
2021	$446,166	$564,062	$1,604,069	$-117,896
2020	$339,276	$430,042	$1,748,238	$-90,766
2019	$488,446	$661,729	$1,534,939	$-173,283
2018	$937,732	$686,845	$1,711,828	$250,887

MICHIGAN VENTURE CAPITAL ASSOCIATION