Michigan Institute For Contemporary Art
EIN: 382575338 · Lansing, MI
| Metric | Value |
|---|---|
| Total Revenue | $183K |
| Total Expenses | $228K |
| Net Assets | $388K |
Is Michigan Institute For Contemporary Art Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Michigan Institute For Contemporary Art
Michigan Institute For Contemporary Art (EIN: 382575338) is a nonprofit organization based in Lansing, MI. The organization reported total revenue of $183K and total assets of $569K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Michigan Institute For Contemporary Art's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Michigan Institute For Contemporary Art is a small nonprofit that has been operating for 41 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -1.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $202K |
| Total Expenses | $228K |
| Surplus / Deficit | $-26,133 |
| Total Assets | $584K |
| Total Liabilities | $196K |
| Net Assets | $388K |
| Operating Margin | -12.9% |
| Debt-to-Asset Ratio | 33.5% |
| Months of Reserves | 30.7 months |
Financial Health Grade: B
In 2023, Michigan Institute For Contemporary Art reported a deficit of $26K with expenses exceeding revenue, holds 30.7 months of operating reserves (strong position), has a debt-to-asset ratio of 33.5% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Michigan Institute For Contemporary Art's revenue has declined at a compound annual growth rate (CAGR) of -1.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -4.9% | +22.3% | -6.1% |
| 2022 | +78.8% | +54.4% | +17.3% |
| 2021 | +184.2% | +123.6% | +2.5% |
| 2020 | -70.5% | -63.9% | +1938.0% |
| 2019 | +8.8% | -20.9% | +33.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Michigan Institute For Contemporary Art has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Michigan Institute For Contemporary Art with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $26K, with expenses exceeding revenue.
- Debt-to-asset ratio: 33.5%.
Frequently Asked Questions about Michigan Institute For Contemporary Art
Is Michigan Institute For Contemporary Art a legitimate charity?
Michigan Institute For Contemporary Art (EIN: 382575338) is a registered tax-exempt nonprofit based in Michigan. It has 13 years of IRS 990 filings on record. Total revenue: $183K. No red flags identified. Financial health grade: B.
How does Michigan Institute For Contemporary Art spend its money?
Michigan Institute For Contemporary Art reported $183K in total revenue in IRS 990 filings. 13 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Michigan Institute For Contemporary Art tax-deductible?
Michigan Institute For Contemporary Art is registered as a tax-exempt nonprofit (EIN: 382575338). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Michigan Institute For Contemporary Art located?
Michigan Institute For Contemporary Art is headquartered in Lansing, Michigan and files with the IRS under EIN 382575338.
How many years of IRS 990 filings does Michigan Institute For Contemporary Art have?
Michigan Institute For Contemporary Art has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $183K in total revenue.
Filing History
IRS 990 filing history for Michigan Institute For Contemporary Art showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Michigan Institute For Contemporary Art's revenue has declined by 16.2%, moving from $241K to $202K. Total assets increased by 5632.9% over the same period, from $10K to $584K. Total functional expenses fell by 3.6%, from $237K to $228K. In its most recent filing year (2023), Michigan Institute For Contemporary Art reported a deficit of $26K, with expenses exceeding revenue. The organization holds $196K in liabilities against $584K in assets (debt-to-asset ratio: 33.5%), resulting in net assets of $388K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $202K | $228K | $584K | $196K | — | — |
| 2022 | $213K | $187K | $622K | $207K | — | View 990 |
| 2021 | $119K | $121K | $530K | $142K | — | View 990 |
| 2020 | $42K | $54K | $517K | $127K | — | View 990 |
| 2019 | $142K | $150K | $25K | $113K | — | View 990 |
| 2018 | $130K | $189K | $19K | $99K | — | View 990 |
| 2017 | $189K | $195K | $16K | $38K | — | View 990 |
| 2016 | $222K | $236K | $4K | $20K | — | — |
| 2015 | $261K | $288K | $5K | $7K | — | View 990 |
| 2014 | $284K | $353K | $32K | $8K | — | View 990 |
| 2013 | $360K | $281K | $95K | $2K | — | View 990 |
| 2012 | $255K | $239K | $21K | $7K | — | View 990 |
| 2011 | $241K | $237K | $10K | $11K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $202K, expenses of $228K, and assets of $584K (revenue -4.9% year-over-year).
- 2022: Revenue of $213K, expenses of $187K, and assets of $622K (revenue +78.8% year-over-year).
- 2021: Revenue of $119K, expenses of $121K, and assets of $530K (revenue +184.2% year-over-year).
- 2020: Revenue of $42K, expenses of $54K, and assets of $517K (revenue -70.5% year-over-year).
- 2019: Revenue of $142K, expenses of $150K, and assets of $25K (revenue +8.8% year-over-year).
- 2018: Revenue of $130K, expenses of $189K, and assets of $19K (revenue -31.1% year-over-year).
- 2017: Revenue of $189K, expenses of $195K, and assets of $16K (revenue -14.5% year-over-year).
- 2016: Revenue of $222K, expenses of $236K, and assets of $4K (revenue -15.1% year-over-year).
- 2015: Revenue of $261K, expenses of $288K, and assets of $5K (revenue -8.2% year-over-year).
- 2014: Revenue of $284K, expenses of $353K, and assets of $32K (revenue -20.9% year-over-year).
- 2013: Revenue of $360K, expenses of $281K, and assets of $95K (revenue +41.1% year-over-year).
- 2012: Revenue of $255K, expenses of $239K, and assets of $21K (revenue +5.7% year-over-year).
- 2011: Revenue of $241K, expenses of $237K, and assets of $10K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Michigan Institute For Contemporary Art:
Data Sources and Methodology
This transparency report for Michigan Institute For Contemporary Art is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.